Search found 2541 matches

by cherijoh
Sun May 01, 2016 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Small Overpayment on Taxes?
Replies: 13
Views: 956

Re: Small Overpayment on Taxes?

I'd forget about it. Unless the lower-end tax prep software is better than I recall, you're going to have to research and do stuff on your own, and based on your questions I get the sense you don't want to do that. I'd agree with the others that it's a good opportunity to learn stuff, but there's l...
by cherijoh
Thu Apr 28, 2016 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire early
Replies: 29
Views: 5704

Re: Can I retire early

he "80% of gross income" rule of thumb is, IMO, more of a "rule of side of the barn." +1 I have always thought of that rule as being analogous to the "one size fits all" clothing that really fits no one well. How much you need (especially formulated as a % of your work...
by cherijoh
Mon Apr 25, 2016 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Using Roth IRA for Home Down Payment.
Replies: 23
Views: 1577

Re: Using Roth IRA for Home Down Payment.

@hafjell: I'm not sure I understand 'carry the cost'. Our current house is paid off - so I guess we have the utilities . . . and the property Taxes . . .. Is that what you are referring to - or were you thinking that we are still paying on our current home? I don't know how to determine if our hous...
by cherijoh
Mon Apr 25, 2016 5:43 pm
Forum: Investing - Help with Personal Investments
Topic: Using Roth IRA for Home Down Payment.
Replies: 23
Views: 1577

Re: Using Roth IRA for Home Down Payment.

We do not want to spend $20k - $30k on Private Mortgage Insurance [PMI]. Withdrawing money from your Roth to avoid PMI is a really BAD idea and extremely short-sighted IMO. How expensive is this house? $20-30K for PMI is way out of whack. You didn't by chance take the estimated monthly PMI and mult...
by cherijoh
Sun Apr 24, 2016 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Paying off mortgage instead of buying bonds
Replies: 33
Views: 3078

Re: Paying off mortgage instead of buying bonds

Don't confuse results (i.e., luck) with strategy. IMO only contributing up to the match while paying down the mortgage aggressively to zero is a bad strategy because you are giving away the unused tax advantaged space - which can never be recovered. Paying down the mortgage vs. investing after-tax ...
by cherijoh
Sun Apr 24, 2016 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: $150000 investment cleanup
Replies: 12
Views: 1794

Re: $150000 investment cleanup

Here's the scoop I have about $150000 in vangaurd mutial funds I've accumulated over the years. This is non retirement. I feel like I have a very cluttered account with making purchases. All the funds have long track records and have historical ror of 8 plus % but becuse there is so I many feel lik...
by cherijoh
Sun Apr 24, 2016 11:50 am
Forum: Investing - Help with Personal Investments
Topic: Paying off mortgage instead of buying bonds
Replies: 33
Views: 3078

Re: Paying off mortgage instead of buying bonds

Here's what my wife and I did: When we got our mortgage, we stopped all retirement contributions, except for contributions attracting an employer match . We threw everything else at the mortgage until we killed it. As it happens, we were lucky. In the same period that we got our mortgage killed, ha...
by cherijoh
Sun Apr 24, 2016 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 333
Views: 53215

Re: Anyone regret paying off mortgage early?

Stupid question but with ~7 pages to the thread now, did we actually find someone who regretted paying off early? Also, to Victoria's example of a disaster loss. It's a reasonable thought in a non-recourse state if your mortgage loan is still non-recourse (often becomes recoursable during refinance...
by cherijoh
Sun Apr 24, 2016 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Paying off mortgage instead of buying bonds
Replies: 33
Views: 3078

Re: Paying off mortgage instead of buying bonds

Hi everyone, I'm 30 years old, self employed, and currently max out a solo 401k and a Roth IRA each year (2050 target date fund for both. I also have a taxable account (Three Fund portfolio). And I have a $200K mortgage at 4%. No other debt. My desired AA is 80/20. I understand the argument against...
by cherijoh
Sat Apr 23, 2016 7:50 am
Forum: Investing - Help with Personal Investments
Topic: Hourly Financial Analysis--Where to Find
Replies: 16
Views: 1481

Re: Hourly Financial Analysis--Where to Find

goingup wrote:This organization, NAPFA, has been mentioned on the forum before. No personal experience with them. https://www.napfa.org


I found a planner to do a stand alone plan through NAPFA, but it was quite a while back. The firm has since moved to a strictly AUM fee structure.
by cherijoh
Fri Apr 22, 2016 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: 2014 Amended Return
Replies: 10
Views: 383

Re: 2014 Amended Return

I assume you mean the 1040X. All you send is the 1040X and any schedule that has changed. In your case it is probably Schedule B. So 2 packets: 1. 1040X, Schedule B, 1099-DIV to federal 2. MA CA-6, Schedule B, 1099-DIV to state? You don't generally mail a copy of your 1099-DIV with your taxes, so I...
by cherijoh
Fri Apr 22, 2016 4:50 pm
Forum: Investing - Theory, News & General
Topic: "The Index Card"
Replies: 19
Views: 2804

Re: "The Index Card"

Thanks for the info and the link to the article! I do have a question which I realize is uninformed/uneducated (which I am trying to remedy!) I do wonder though, how this can be: "One of the more pathetic studies shows that the stocks that people sold outperformed the stocks that people bought...
by cherijoh
Fri Apr 22, 2016 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Got laid off, when can I file for unemployment?
Replies: 44
Views: 4611

Re: Got laid off, when can I file for unemployment?

Cobra seems pretty expensive after reading through the documentation, I think obamacare is probably a better option, I filled out a form online and some guy called me immediately and tried to get me to get it asap, he seemed a bit pushy about it. Is Cobra and obamacare the only way to avoid that ta...
by cherijoh
Fri Apr 22, 2016 7:20 am
Forum: Investing - Help with Personal Investments
Topic: Is Backdoor Roth IRA correct for me?
Replies: 9
Views: 511

Re: Is Backdoor Roth IRA correct for me?

Hi, I am planning on buying a house in couple years. I am investing in 1. 401k upto company match (I will pay penalty, or atleast some interest if I withdraw for home buying purpose) 2. maxing out Roth IRA (I can withdraw principal anytime without penalty) 3. I have some taxable account. (I will pa...
by cherijoh
Fri Apr 22, 2016 7:10 am
Forum: Personal Consumer Issues
Topic: Quick, healthy dinner resources and tips
Replies: 15
Views: 1358

Re: Quick, healthy dinner resources and tips

I want to do a lot of family sit down dinners but with two young kids time is a premium. I may try a service like Blue Apron (here's a good comparison http://lifehacker.com/the-best-meal-kit-services-blue-apron-vs-hello-fresh-1682517921) but at ~$10 I want to make sure it's a hearty meal - not a 30...
by cherijoh
Wed Apr 20, 2016 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Why am I still scared ? Is it actually normal ?
Replies: 59
Views: 6588

Re: Why am I still scared ? Is it actually normal ?

I remember the time when I had a net worth of $2000 and thought that I would be a king with nothing to worry about ever, once I have 100 K :-) Fast forward to today and even with approx 1.6MM of net worth @ the age of 46 (not incl home equity , cars , 529 plans), why am I still worried ? Why don't ...
by cherijoh
Sun Apr 17, 2016 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: How Did You File Your Income Taxes for 2015?
Replies: 101
Views: 4167

Re: How Did You File Your Income Taxes for 2015?

I purchased a PC download version of TurboTax Deluxe from Amazon for $39.85 that included e-filing federal. It did my state return, but I wasn't going to pay an extra $29.95 to e-file it, so I printed my return and mailed it via snail mail. I used to fill everything out by hand but switched to Turbo...
by cherijoh
Sat Apr 16, 2016 5:59 pm
Forum: Investing - Help with Personal Investments
Topic: Missed a step with backdoor Roth
Replies: 3
Views: 537

Re: Missed a step with backdoor Roth

Hi, I discovered only last year about the backdoor enabling me to move my non-deductible contributions from my IRA to my Roth IRA. I tried it last year but I missed a step, I realize it now and this has an impact on my 2015 taxes. I need help to sort this out. What happened: ⋅ I have made...
by cherijoh
Sat Apr 16, 2016 7:31 am
Forum: Personal Consumer Issues
Topic: Buying the most expensive house on the street?
Replies: 34
Views: 4631

Re: Buying the most expensive house on the street?

I would be hesitant to buy the most expensive house on the street if the higher price was based on upgrades and features that were not related to useable space. That can limit the potential pool of people willing to pay more than for an equivalently-sized more modestly-priced house. Have you looked ...
by cherijoh
Fri Apr 15, 2016 9:07 pm
Forum: Investing - Help with Personal Investments
Topic: Now i get it - mortgage payoff
Replies: 35
Views: 5139

Re: Now i get it - mortgage payoff

If all or most of your eggs are now sitting as home equity in your paid off house, then you probably were too aggressive with your mortgage payoff. Especially if you bypassed maxing out your tax-advantaged retirement plans to do so. But I wouldn't consider the loss of the mortgage interest deduction...
by cherijoh
Fri Apr 15, 2016 8:32 pm
Forum: Investing - Theory, News & General
Topic: What are Pros and Cons to the "Four Hour Workweek?"
Replies: 99
Views: 10716

Re: What are Pros and Cons to the "Four Hour Workweek?"

Most entrepreneurs work a heck of a lot more than 4 hours per week launching their business(es). And the failure rate is extraordinarily high. So while there are some wildly successful entrepreneurs - especially in the tech world - these are the statistical outliers IMO. Either your friend was incre...
by cherijoh
Thu Apr 14, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion prior to RMD can be done!
Replies: 21
Views: 1892

Re: Conversion prior to RMD can be done!

Here is the ruling from the IRS's CFR 1.408A-4, Question 6: Thank you for that citation, chx . That probably explains why all the practitioners say the first distribution transaction of the year must not be a transfer to a Roth. But here is the weird thing. That answer appears to be in direct confl...
by cherijoh
Thu Apr 14, 2016 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion prior to RMD can be done!
Replies: 21
Views: 1892

Re: Conversion prior to RMD can be done!

radiowave wrote:A naïve question . . .

If I convert funds from a traditional (tax advantaged) IRA to a Roth IRA does that count towards my RMD ?


No. If your RMD for the year is 10K and you want to convert $X to a Roth, you would have to take a distribution of ($10K + $X).
by cherijoh
Thu Apr 14, 2016 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: grateful for any input on a major, urgent real estate decision
Replies: 75
Views: 5111

Re: grateful for any input on a major, urgent real estate decision

PS... we've had three realtors over this week who all told us it's a "great investment" at the price on the table. Yeah, I've heard that whopper before. Agreed! Which is why I put it in quotes (And why we've never actually bought a place before)! However, we invited these three realtors o...
by cherijoh
Wed Apr 13, 2016 8:43 pm
Forum: Personal Consumer Issues
Topic: Adding a large bedroom to existing house
Replies: 12
Views: 1256

Re: Adding a large bedroom to existing house

I am wondering how difficult, time-consuming and expensive to add a large bedroom to a house. we found a really nice house with good amount of land but it is a little small for our growing family. Adding a decent size bedroom would resolve the issue. I don't have any idea of what it involves though...
by cherijoh
Tue Apr 12, 2016 7:31 am
Forum: Personal Consumer Issues
Topic: Adding a large bedroom to existing house
Replies: 12
Views: 1256

Re: Adding a large bedroom to existing house

I am wondering how difficult, time-consuming and expensive to add a large bedroom to a house. we found a really nice house with good amount of land but it is a little small for our growing family. Adding a decent size bedroom would resolve the issue. I don't have any idea of what it involves though...
by cherijoh
Mon Apr 11, 2016 6:26 am
Forum: Investing - Help with Personal Investments
Topic: The 'cost' of retiring early. what's wrong with my math?
Replies: 36
Views: 5973

Re: The 'cost' of retiring early. what's wrong with my math?

OP here. It seems I am discounting social security too much. how much would you discount the previously mentioned 2.3MM nest egg? Down to 1.5MM? Still it is a huge difference between this and 200k in the second example. It seems in the third example, there is a high likelihood that you may end up w...
by cherijoh
Sun Apr 10, 2016 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: The 'cost' of retiring early. what's wrong with my math?
Replies: 36
Views: 5973

Re: The 'cost' of retiring early. what's wrong with my math?

Celia said: "In addition, if you are married for at least 10 years to the same person when you start SS, the spouse (at his/her FRA) can take 1/2 of the higher person's FRA SS." Will this still be true after April 29, 2016 if not already eligible by then? elgob I don't believe spousal ben...
by cherijoh
Sun Apr 10, 2016 5:07 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor over contribution
Replies: 6
Views: 674

Re: Mega Backdoor over contribution

This involves a mega-backdoor roth contribution for 2015. I've contributed to the pretax limit, my employer has contributed, and I've filled the rest with after-tax contributions and rolled those over to my ROTH. I guess my math was off because I got a call from my 401k provider saying I over contr...
by cherijoh
Sun Apr 10, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Error or Change in Rule of "Backdoor" IRA Conversion
Replies: 12
Views: 1034

Re: H&R Block Error or Change in Rule of "Backdoor" IRA Conversion

I'm using H&R Block software to file 2015 tax. In the final review, I notice that I incur $660 which is labeled as "retirement tax." This amount comes from my "backdoor" conversion of nondeductible traditional IRA to Roth IRA. I converted a total amount of $11,000 for both m...
by cherijoh
Sun Apr 10, 2016 9:30 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard local office???
Replies: 25
Views: 2086

Re: Vanguard local office???

The Vanguard office is in Malvern,Pennsylvania :happy They also have offices in Scottsdale AZ and Charlottesville NC. However, I don't know if they see clients at any of these offices. Charlottesville is in VA. The office is in Charlotte, NC - which is where I am. But I see no need to visit the off...
by cherijoh
Sun Apr 10, 2016 7:05 am
Forum: Personal Consumer Issues
Topic: Best crash course in Spanish?
Replies: 28
Views: 2196

Re: Best crash course in Spanish?

I have never studied Spanish but in talking with people I've heard that there is a lot of difference between things like Mexican Spanish, Spanish Spanish, Argentinian Spanish, and probably others as well. It would be good to focus in on which type of Spanish you want to learn. While this is true, I...
by cherijoh
Sun Apr 10, 2016 6:28 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard local office???
Replies: 25
Views: 2086

Re: Vanguard local office???

The Vanguard office is in Malvern,Pennsylvania :happy They also have offices in Scottsdale AZ and Charlottesville NC. However, I don't know if they see clients at any of these offices. Charlottesville is in VA. The office is in Charlotte, NC - which is where I am. But I see no need to visit the off...
by cherijoh
Sat Apr 09, 2016 5:36 pm
Forum: Investing - Help with Personal Investments
Topic: Help with 1099 R and 10% additional tax
Replies: 15
Views: 861

Re: Help with 1099 R and 10% additional tax

I don't think there is a code 81 for a 1099-R. Maybe it is code 8 and 1?

Did your IRA contain money from previous years? It looks like this was processed as an early withdrawal rather than a return of your contribution. Have you tried calling Vanguard?

Who did your taxes or did you use tax software?
by cherijoh
Sat Apr 09, 2016 5:19 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing to control risk doesn't make sense to me
Replies: 42
Views: 3013

Re: Rebalancing to control risk doesn't make sense to me

The common reply is that rebalancing isn't done to improve returns, but to control risk. Without rebalancing, your stocks would dominate over time, which would increase your risk, right? This doesn't make sense to me either. Or, I guess it does, if we define risk as volatility. But why do we need t...
by cherijoh
Fri Apr 08, 2016 6:09 am
Forum: Personal Finance (Not Investing)
Topic: How do I report the sale of a really old mutual fund where I have no purchase records?
Replies: 20
Views: 1834

Re: How do I report the sale of a really old mutual fund?

...Anyway the MAIN thing is that these have been on my books for several years so I can prove that they are long term. I'm perfectly willing to use $0.00 for the cost basis so I just want to make sure I don't have to pay short term gains. Somebody said I could just enter them into the LT part of th...
by cherijoh
Fri Apr 08, 2016 6:03 am
Forum: Personal Finance (Not Investing)
Topic: How do I report the sale of a really old mutual fund where I have no purchase records?
Replies: 20
Views: 1834

Re: How do I report the sale of a really old mutual fund?

No the links don't help because I only know that I bought these in the early 1980's. T Rowe Price has no way to look back to the 1980's. Anyway the MAIN thing is that these have been on my books for several years so I can prove that they are long term. I'm perfectly willing to use $0.00 for the cos...
by cherijoh
Mon Apr 04, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: 50/ can I cross the finish line?
Replies: 51
Views: 6769

Re: 50/ can I cross the finish line?

Ultimately, I want to be able to retire in 10 years with about $90k in income, today's dollars. Is it still reasonable given our amount we will likely save going forward is about $15-20k annually? Does the $90k need to come entirely from your investments? Or will you also be getting a pension and/o...
by cherijoh
Mon Apr 04, 2016 4:50 pm
Forum: Personal Consumer Issues
Topic: Credit card changes and how do merchants find out?
Replies: 4
Views: 564

Re: Credit card changes and how do merchants find out?

How were you paying for the Sirius radio contract? Yearly, quarterly, monthly? Yearly. The last time I paid was April 2015 with a different CC number. There are actually two account numbers. The one on the plastic changes when your card is reissued. There is also one that stays the same for the ent...
by cherijoh
Sun Apr 03, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax [Frustration]
Replies: 19
Views: 2316

Re: TurboTax [Frustration]

I don't mean to sound flip, but how long would it have taken you to do your state taxes? Or was it that it would cost $39.99 to e-file state taxes but you could still print them out for free? In my state, everything is predicated off the Federal tax form - I end up giving up most of my itemized ded...
by cherijoh
Sun Apr 03, 2016 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Big spenders, anybody successfully downsized?
Replies: 30
Views: 4096

Re: Big spenders, anybody successfully downsized?

Eating out: It's just shocking how much you spend eating out, especially if your child has moved off the kids menu. We ended bad habits like eating out because we were tired, and just switched to simple "tired" meals like soup and sandwiches, or breakfast for dinner. Dinners out are usual...
by cherijoh
Sun Apr 03, 2016 7:58 am
Forum: Investing - Theory, News & General
Topic: Expense Ratio Difference
Replies: 6
Views: 675

Re: Expense Ratio Difference

In general, the institutional share classes have lower expenses because the non-Vanguard institution is handling most of the administrative tasks (your 401k in this case). Having said that, the difference in actual expenses is pretty slight at this low level of expenses. In dollar terms, it is only...
by cherijoh
Sat Apr 02, 2016 7:17 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax [Frustration]
Replies: 19
Views: 2316

Re: TurboTax [Frustration]

Long story short, I was actually pleased with what I found to be an improved data uploading system for retrieving both Vanguard and Fidelity data. Instruction and help verbiage continued to be lacking and downright pathetic in many places, but it all went faster than ever before. But when I got to ...
by cherijoh
Sun Mar 27, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Unwanted cold call from Mass Mutual agent
Replies: 45
Views: 3294

Re: Unwanted cold call from Mass Mutual agent

You're enraged over one cold call? What would two do to you? As others have already said, don't answer it if you don't know who it is. And even if you do know, you're still under no obligation to answer it. If I got enraged over every unwanted call we get I'd probably be dead by now. Life's too sho...
by cherijoh
Sun Mar 27, 2016 7:41 am
Forum: Investing - Help with Personal Investments
Topic: $0.09 goof in back door Roth contribution
Replies: 4
Views: 914

Re: $0.09 goof in back door Roth contribution

Astonishingly, in the two days I had my traditional IRA open while funds cleared, I was paid a $0.09 dividend. I wasn't looking carefully and converted the whole thing to a backdoor Roth the same day the dividend posted. How will I have to handle the $0.09 gain on my taxes? Or will rounding to the ...
by cherijoh
Sun Mar 27, 2016 7:23 am
Forum: Investing - Help with Personal Investments
Topic: need some portfolio & mortgage advice
Replies: 23
Views: 1265

Re: need some portfolio & mortgage advice

Hello bogleheads, Been reading this board (love it!) for awhile and have posted in the past. I'd like to get some advice on our updated situation. As you will see I have a lot to learn... Emergency funds: About a years worth Debt: 213k mortgage at 3.875% <-- What was original mortgage amount, years...
by cherijoh
Sat Mar 26, 2016 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Bond fund selections in 401k
Replies: 5
Views: 513

Re: Bond fund selections in 401k

I am using the Vanguard Inflation protected bonds in my 401k.
by cherijoh
Sat Mar 26, 2016 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Home too small
Replies: 45
Views: 4149

Re: Home too small

Because, as cited in some posts, "going up" is more expensive and disruptive than "going out", I wonder of it is possible/practical to add a smaller footprint, two story addition "going out". So, for example, if you want 1,000 mor sq ft, then a 500 sq ft two story addi...
by cherijoh
Sat Mar 26, 2016 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Unwanted cold call from Mass Mutual agent
Replies: 45
Views: 3294

Re: Unwanted cold call from Mass Mutual agent

One, ignore it. Two, I had that experience mentioned above of being cold called at work. Megacorp has always considered the direct line to employees to be non-public information. A notice to Corporate Security resulted in that individual's firm having a conversation about the issue. This was clearl...
by cherijoh
Sat Mar 26, 2016 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Home too small
Replies: 45
Views: 4149

Re: Home too small

Because, as cited in some posts, "going up" is more expensive and disruptive than "going out", I wonder of it is possible/practical to add a smaller footprint, two story addition "going out". So, for example, if you want 1,000 mor sq ft, then a 500 sq ft two story addi...

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