Search found 512 matches

by WorkToLive
Sat May 07, 2016 6:03 pm
Forum: Personal Consumer Issues
Topic: Kids gadget usage restrictions
Replies: 7
Views: 647

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: 4999

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: 292

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: 292

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: 870

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: 479

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: 479

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: 2498

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: 1361

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: 633

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: 633

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: 633

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: 1696

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: 1696

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: 458

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: 458

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: 9965

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: 1280

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: 1821

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: 414

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: 414

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: 2229

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: 1465

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: 90
Views: 6821

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: 414

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: 414

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: 5042

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: 7839

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: 5607

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: 14107

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: 17164

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: 3850

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: 4314

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: 1131

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: 489

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: 8448

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: 1418

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: 5481

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: 1738

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: 4319

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: 15508

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: 7487

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: 6921

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: 6723

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: 5947

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: 812

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).

Go to advanced search