Search found 5423 matches

by celia
Thu Mar 30, 2017 3:28 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conv 15% bracket for 3yrs
Replies: 10
Views: 957

Re: Roth Conv 15% bracket for 3yrs

If I were to implement a Roth conversion plan, this is how I would go about it, based on my 2017 income: 1) I'm going to project that I will have a 50K "taxable income" for 2017 which suggest I could withdrawal 23k from my holdings and still stay under the 15% tax bracket of 73k 2) I woul...
by celia
Wed Mar 29, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Child Planning Checklist
Replies: 42
Views: 2413

Re: Child Planning Checklist

If a friend hosts a baby shower for you, you should be just about set. Pack a small suitcase or plastic bag for clothes that mommy and baby will wear home. Leave it at home until discharge day. We were getting ready to move out of our house for remodeling when the last one was born. Everything from ...
by celia
Wed Mar 29, 2017 2:03 pm
Forum: Investing - Theory, News & General
Topic: anyone factor in future inheritance?
Replies: 49
Views: 2211

Re: anyone factor in future inheritance?

Well, I guess I DID factor it in, in a way, into our Roth conversion plan. We started doing Roth conversions when DH retired. When I retired, I mapped out all our expected income until age 72 (after we will have both been on SS for a whole year), then tried to figure out how to "level" tha...
by celia
Wed Mar 29, 2017 12:32 pm
Forum: Investing - Theory, News & General
Topic: anyone factor in future inheritance?
Replies: 49
Views: 2211

Re: anyone factor in future inheritance?

Yes. I expect that the OP will die before me and leave me a large inheritance since I'm so helpful on this board. :sharebeer

Or, maybe the OP will die before the relative he/she expects to die first. It does happen!
by celia
Wed Mar 29, 2017 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Withdraw Roth Contributions for Taxable
Replies: 11
Views: 527

Re: Withdraw Roth Contributions for Taxable

But, can one just have the taxes taken out of the amount converted? Yes. ...It's going to take quite a good amount in taxable to cover that $9500 tax bill. The medical insurance and deductibles/co-pays can easily be more than that. Part-timers are often not covered by employer insurance. If things ...
by celia
Wed Mar 29, 2017 11:46 am
Forum: Investing - Help with Personal Investments
Topic: Withdraw Roth Contributions for Taxable
Replies: 11
Views: 527

Re: Withdraw Roth Contributions for Taxable

triceratop wrote:You are missing the tax treatment of Roth IRAs. Specifically: retirement withdrawals are not taxed while you are alive.

Withdrawal from Roths are not taxed once you are over 59.5 and an account has been opened for 5 years. Death has nothing to do with changing it. Heirs can also withdraw tax-free.
by celia
Wed Mar 29, 2017 11:32 am
Forum: Investing - Help with Personal Investments
Topic: Withdraw Roth Contributions for Taxable
Replies: 11
Views: 527

Re: Withdraw Roth Contributions for Taxable

Would it make sense to withdraw Roth CONTRIBUTIONS and reinvest in Taxable account? Seems to me that would be a way to fund first 5+ years of early retirement while doing much bigger Roth Conversions. If you retire early and have tax-deferred and Roth accounts, why aren't you withdrawing the CONTRI...
by celia
Wed Mar 29, 2017 4:45 am
Forum: Personal Finance (Not Investing)
Topic: Need advice/help selecting new health insurance company - Pregnancy
Replies: 8
Views: 516

Re: Need advice/help selecting new health insurance company - Pregnancy

I'm sorry that all these events are happening at the same time, but with mutual support for each other, you will get through it. When I was laid off in California (many years ago), COBRA only allowed you to continue the same insurance you were on before you were laid off. Before I was laid off, I th...
by celia
Wed Mar 29, 2017 3:48 am
Forum: Personal Finance (Not Investing)
Topic: Handling future healthcare expenses AFTER legal settlement?
Replies: 5
Views: 594

Re: Handling future healthcare expenses AFTER legal settlement?

If you needed an organ transplant (for example) or any subsequent surgery, wouldn't your current health insurance cover that? I don't have any answers, but just want to note that even though insurance companies can't currently exclude people with pre-existing conditions or charge them more, this ma...
by celia
Wed Mar 29, 2017 1:13 am
Forum: Investing - Help with Personal Investments
Topic: Closed Funds
Replies: 2
Views: 219

Re: Closed Funds

How do you find out if a mutual fund is closed BEFORE you attempt to buy and find out by being rejected. In general, how often do funds open and close? Is there any sense in waiting in the hopes of a closed fund opening again? On this page: https://investor.vanguard.com/mutual-funds/list#/mutual-fu...
by celia
Tue Mar 28, 2017 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it
Replies: 21
Views: 1741

Re: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it

I'm not an expert in this area, but think there is a good chance they are doing it correctly. I am assuming you still live outside the U.S. If so, you already benefit from a pretty good chunk of income not being taxed in the U.S., as I understand it. To make up for it, other items are probably trea...
by celia
Tue Mar 28, 2017 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Child Planning Checklist
Replies: 42
Views: 2413

Re: Child Planning Checklist

1. stock up on disposable diapers
2. stock up on extra sleep

Once (s)he arrives, life will never be the same! :beer
by celia
Tue Mar 28, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

Take all of the RMD immediately except the part of the RMD I will donate to charity . That part went into a MM fund to be doled out as QCDs over the course of the year. I'd rather spread the QCDs over the entire year rather than have the charity receiving it all at once. Saving it in the MM fund pr...
by celia
Tue Mar 28, 2017 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it
Replies: 21
Views: 1741

Re: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it

I'm not an expert in this area, but think there is a good chance they are doing it correctly. I am assuming you still live outside the U.S. If so, you already benefit from a pretty good chunk of income not being taxed in the U.S., as I understand it. To make up for it, other items are probably treat...
by celia
Tue Mar 28, 2017 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: Get money from IRA at brokerage A to Roth IRA at Brokerage B
Replies: 4
Views: 238

Re: Get money from IRA at brokerage A to Roth IRA at Brokerage B

I strongly recommend that both accounts be at the same brokerage since there are so many ways for a conversion to go wrong. This is not a transaction you want to simplify. (Let the brokerage process it normally.) There are also circumstances when you may want to re-characterize (un-do) a conversion,...
by celia
Tue Mar 28, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Daugther's Credit Card Windfall
Replies: 39
Views: 3547

Re: Daugther's Credit Card Windfall

KlingKlang wrote:The bank credited her checking account correctly, but Discover debited her account for $5,2xx.xx ($5,000.00 surplus).

I'm confused. Don't you mean the bank debited her checking account for $2xx.xx and Discover credited her credit card account for $5,2xx.xx?
by celia
Tue Mar 28, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter maxed out credit cards, needs help from me
Replies: 92
Views: 4258

Re: Daughter maxed out credit cards, needs help from me

It depends on what her income is, if any. If she has no income, I would help feed her and make sure she has medical insurance. But if she is earning $50K or more, why can't she whittle away at it herself? What will prevent this from happening again? At the end of the debt, will she know more about h...
by celia
Tue Mar 28, 2017 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

I agree with cheese breath & will take RMDs the first business day of the January, then take additional distributions as needed. Actually I need to modify what I wrote on this one. That was before I became aware of QCDs. I modified my behavior a little after that. I'd move whatever I planned to...
by celia
Tue Mar 28, 2017 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

What I want to do -- i.e., manage the portions that are distributed in 3 ways from an amount that is likely to be more than my RMD -- likely cannot be automated. That is why I am looking at a way I can simplify the process for me. My taxable account is in a fund that maintains my 60/40 AA, so I onl...
by celia
Tue Mar 28, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Send check for quickly amended return?
Replies: 18
Views: 675

Re: Send check for quickly amended return?

michaeljc70 wrote:I am going to do an amended return for them ASAP.

Take your time and don't be in such a hurry. Look over the return at your leisure to make sure there isn't an additional change to be made. For example, compare it to the previous year's return for omissions.

Haste makes waste!
by celia
Tue Mar 28, 2017 2:08 am
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

...I will make sure that I remind them to file my last year's tax return. That will be in my letter of instructions. I want to make things as simple as possible for my kids. Nice planning, Bill. Sometimes saving a few dollars (on complicated RMD schemes) is not worth it. But there is something to b...
by celia
Tue Mar 28, 2017 1:31 am
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

I think I stick with Taylor on this one. Deferral is the whole point in a tax deferred account. We defer the RMD to the last amount to allow the maximum tax advantage. We are taking out RMDs (and more) to the top of our current tax bracket (from an Inherited IRA) to bring the account balance down b...
by celia
Tue Mar 28, 2017 12:56 am
Forum: Investing - Help with Personal Investments
Topic: Consolidating IRAs Question
Replies: 8
Views: 487

Re: Consolidating IRAs Question

Is there any disadvantage to combining the 2 Rollover and one Traditional IRA into 1 account? Yes, if your wife is still working. If she should get (or has) a job with a 401k with good investment options, she might want to roll the rollover accounts back into a 401k (because they came from an emplo...
by celia
Tue Mar 28, 2017 12:22 am
Forum: Personal Finance (Not Investing)
Topic: An Edward Jones Financial Advisor stopped by my house and spoke with my wife
Replies: 93
Views: 8041

Re: An Edward Jones Financial Advisor stopped by my house and spoke with my wife

pondering wrote:An Edward Jones Financial Advisor stopped by my house and spoke with my wife.

If you know where he lives or can find out, why don't you stop at his house and speak to his wife!

While there, leave some Vanguard literature for him to read.
by celia
Mon Mar 27, 2017 6:42 pm
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

I didn't understand the following question: I was also asked whether I received a “Distribution Rolled over”? Did you roll over this distribution? ( I originally “rolled over” this funds in my IRAs from 401(k) accounts quite a number of years ago.) I clicked on NO – I didn’t roll over this distribu...
by celia
Mon Mar 27, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Boston apartment hunting advice/can I afford a studio?
Replies: 39
Views: 1921

Re: Boston apartment hunting advice/can I afford a studio?

Yes! Become familiar with public transportation options! On our last trip there, we used the rail and bus lines. Very clean and frequent. No worry about parking at all.
by celia
Mon Mar 27, 2017 2:30 pm
Forum: Investing - Theory, News & General
Topic: Why are international and US stocks down today?
Replies: 53
Views: 3109

Re: Why are international and US stocks down today?

I understand how volatile the market is both in the short and long term so I fully accept that this could happen (or worse) after investing a chunk into the market. Still, I find this behavior odd and irrational. And what would you be thinking if you hadn't made that investment Friday ? Do you real...
by celia
Mon Mar 27, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Need advice about massive changes in daughter's college program by dean
Replies: 52
Views: 3605

Re: Need advice about massive changes in daughter's college program by dean

I'm the daughter in question, hello! To give some more info, I'm currently president of a student club that's related to my major and I've gotten a few other presidents interested in making voices heard. We're going to meet with an assistant dean this week to discuss the issues my dad stated, and I...
by celia
Mon Mar 27, 2017 2:43 am
Forum: Investing - Help with Personal Investments
Topic: RMD in 2018
Replies: 46
Views: 2418

Re: RMD in 2018

Thank you everyone for your answers. I will turn 70 in April and perhaps start my withdrawals in January 2018. If you turn 70 in April, you will be required to take an RMD for 2017. If you wait until January 2018, you will be required to take two RMDs in 2018, the one for 2017 and the one for 2018....
by celia
Mon Mar 27, 2017 2:33 am
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Girlfriend
Replies: 86
Views: 6233

Re: Massive Student Loan Debt - Girlfriend

Assume the worst case happens financially. Would you still love her enough to work on that debt together?

If not, it is only fair to let her know so she can go find someone who will love her regardless.

Besides, it's not like each of you are bringing that amount of debt into the relationship.
by celia
Mon Mar 27, 2017 2:05 am
Forum: Personal Consumer Issues
Topic: Need advice about massive changes in daughter's college program by dean
Replies: 52
Views: 3605

Re: Need advice about massive changes in daughter's college program by dean

This is the time of year when teachers get lay-off warnings so they can start making their own plans. This often occurs when budgets need to be cut. Student and faculty opinion is not needed when that is the case. If that state university is experiencing budget problems, you can be sure the other un...
by celia
Sat Mar 25, 2017 1:31 am
Forum: Investing - Theory, News & General
Topic: When can you transfer in kind?
Replies: 23
Views: 1316

Re: When can you transfer in kind?

Ask your current custodian(s) if they allow in-kind transfers. Then ask the new custodian if they accept in-kind transfers AND if you will be able to hold the funds there that you currently own. My guess is that your current tax-deferred funds are more likely to be unique to the custodian (not avail...
by celia
Sat Mar 25, 2017 1:17 am
Forum: Personal Consumer Issues
Topic: Car Dealer Forgot to Charge Sales Tax - Ouch
Replies: 39
Views: 3466

Re: Car Dealer Forgot to Charge Sales Tax - Ouch

I'm thinking one way or another the OP will have to pay the sales tax. If not to the car dealer, then to the county. I read the original post as his wife went to the dealer to negotiate a purchase of 2 new cars while trading in 2 cars and was to keep the net (out-the-door) price at a specific amoun...
by celia
Fri Mar 24, 2017 5:57 pm
Forum: Personal Consumer Issues
Topic: Car Dealer Forgot to Charge Sales Tax - Ouch
Replies: 39
Views: 3466

Re: Car Dealer Forgot to Charge Sales Tax - Ouch

Hours go by and we did not hear anything so my wife called the finance guy. Turns out he was panicked, started talking about how he was worried for his job and family. This is the part that sounded fishy to me when I first read it. What reputable company will fire a employee over a $2,000 mistake.....
by celia
Fri Mar 24, 2017 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: New Allocations after Inherited IRA
Replies: 14
Views: 860

Re: New Allocations after Inherited IRA

DH inherited a mess like that. It resulted from splitting an IRA into many parts due to the number of heirs. We did the same by transferring and selling, only he was left with part of a Ginnie Mae bond that he couldn't sell since it was smaller than the minimum size needed for trading. When he turns...
by celia
Fri Mar 24, 2017 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: Very Sad - Loss of Backdoor Roth IRA all these years
Replies: 19
Views: 4495

Re: Very Sad - Loss of Backdoor Roth IRA all these years

Once confusion, why do I need my non-Roth IRAs to be empty on/before Dec. 31, 2017 for 2016 coversion ? Is not for 2017 coversion? We are now in 2017, right? Any conversion done this year will be reported on tax forms as a 2017 conversion. It doesn't matter when the contributions were done. (The co...
by celia
Fri Mar 24, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Administration of relative's estate
Replies: 36
Views: 2395

Re: Administration of relative's estate

If you don't want to do the recommended suggestions above, can you draw a family tree that shows relationships of people to each other, starting with the deceased's parents? We had another thread about a year ago about a deceased who apparently had sizable assets but had no heirs. A relative on the ...
by celia
Thu Mar 23, 2017 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Living Trust - Death of grantor/trustee
Replies: 18
Views: 1273

Re: Living Trust - Death of grantor/trustee

Assumedly, you are not paying bills from your investments, but from a checking account. Nowadays it is quite practical to use the cash portion of a brokerage account for the same purpose as a checking account. We found that setting up automatic payments was a bit simpler with our broker than doing ...
by celia
Thu Mar 23, 2017 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Administration of relative's estate
Replies: 36
Views: 2395

Re: Administration of relative's estate

Get the death certificate and see who the Informant was and contact him/her. Call the bank that held the mortgage and ask what happened. How much was owed? Was that amount fully paid off?. See if the local court's estate/wills section has a case on him/her. Is it open or closed? Who is the administr...
by celia
Thu Mar 23, 2017 11:20 am
Forum: Personal Consumer Issues
Topic: Kitchen island
Replies: 43
Views: 2121

Re: Kitchen island

This plan is definitely inviting stools to be there, but you didn't allow room for the stools with someone sitting on them (2 feet out from the edge of the countertop). I also don't think you want someone to get off a stool and bump into a cook at the stove who may be holding something hot or have t...
by celia
Thu Mar 23, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust - Death of grantor/trustee
Replies: 18
Views: 1273

Re: Living Trust - Death of grantor/trustee

2. A trust tax return does not have exemptions or standard deductions. There is no "age" associated with the "owner". To avoid having to file taxes again for the year after death, I had all undistributed assets remain as cash. The following year, I filed the two returns, and dist...
by celia
Thu Mar 23, 2017 3:37 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust - Death of grantor/trustee
Replies: 18
Views: 1273

Re: Living Trust - Death of grantor/trustee

This sounds like, once again, Vanguard is using some archaic process to make peoples' lives more difficult . Do they really make people create new accounts?! Once again, Vanguard is following the procedures that should be followed. I was a trustee for a relative's trust both before and after she di...
by celia
Thu Mar 23, 2017 2:43 am
Forum: Investing - Help with Personal Investments
Topic: Very Sad - Loss of Backdoor Roth IRA all these years
Replies: 19
Views: 4495

Re: Very Sad - Loss of Backdoor Roth IRA all these years

- Wife to Open Traditional non deductible self-directed Schwab IRA with post-tax-$ (Schwab checking account) before April 17,2017 Why is she opening this at Schwab? Does she want to pay the advisor more fees? Don't put it in a checking account. If she accidentally writes a check, it will be conside...
by celia
Thu Mar 23, 2017 1:55 am
Forum: Personal Finance (Not Investing)
Topic: Administration of relative's estate
Replies: 36
Views: 2395

Re: Administration of relative's estate

Try reaching out to the person that made the funeral arrangements. You can probably get their name from the funeral home. Presuming there was an obituary or death notice published. Another idea is to get a copy of the death certificate (which you will need anyways if you should become the executor)...
by celia
Thu Mar 23, 2017 1:24 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard cost basis during transfers: lessons learned
Replies: 2
Views: 699

Re: Vanguard cost basis during transfers: lessons learned

Thanks for sharing. It's good to know the details of what can/did go wrong.

I'm also sorry to hear that your headaches are "taxable". :D
by celia
Thu Mar 23, 2017 1:06 am
Forum: Personal Consumer Issues
Topic: Kitchen island
Replies: 43
Views: 2121

Re: Kitchen island

The island is interfering with the "work triangle", the distance between the stove, sink, and refrigerator. You need to detour to get from the fridge to stove!. Consider if all the appliance doors are open: oven, fridge, dishwasher. Can a person walk by to put leftovers in the fridge while...
by celia
Wed Mar 22, 2017 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: I thought I understood AA, now I have confused myself
Replies: 10
Views: 533

Re: I thought I understood AA, now I have confused myself

"Rebalancing" is the term used to bring your portfolio back to your desired asset allocation. As stated above, you can do this by selling some stock funds to buy more bond funds (this may have tax consequences if you have realized capital gains/losses in a taxable account) or re-directing ...
by celia
Wed Mar 22, 2017 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Moving TIAA CREF out of money market
Replies: 16
Views: 1103

Re: Moving TIAA CREF out of money market

The 403(b) account is tax-deferred. You haven't paid taxes on the contributions yet so when you withdraw the funds in retirement, you will pay taxes on the contributions and the growth. The Roth account is tax-free. You paid taxes on the contributions in the years the contributions were made. All th...
by celia
Tue Mar 21, 2017 11:08 pm
Forum: Investing - Help with Personal Investments
Topic: Pension
Replies: 11
Views: 936

Re: Pension

... I had believed that when you become vested, that you were entitled to do what you wish with the funds regardless of employment with the company? No. "Vesting" has nothing to do with how/where the money is invested. It means that when you are 100% vested (however that is defined at you...
by celia
Tue Mar 21, 2017 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 77
Views: 5670

Re: How did graduating out of daycare impact your finances?

It didn't. When one kid "graduated", another entered!

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