Search found 3712 matches

by cherijoh
Wed Apr 26, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Using Roth IRA as a savings account?
Replies: 21
Views: 1672

Re: Using Roth IRA as a savings account?

Curious to know people's opinion on using a Roth IRA as a "savings" account in the event that you are unable to max it out by the end of the year. My wife and I are on a single income as she stays home with our little one, and it would be pushing it to max both our Roth IRAs for retiremen...
by cherijoh
Sun Apr 23, 2017 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Differential aggressiveness for ROTH vs 401K
Replies: 31
Views: 2326

Re: Differential aggressiveness for ROTH vs 401K

Ill be doing what I think you are alluding to. Put your growth-iest bets into your Roth. Why not? It all tax free. Because you are not adjusting your AA for after-tax return and risk. If you do so, it doesn't matter where you put your "growth-iest" bets.[/quote] Kevin, I understand what y...
by cherijoh
Sat Apr 22, 2017 1:15 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 51
Views: 3476

Re: Issue With Real Estate Agent (Seller)

My home has been listed since January. There have been very few showings in spite of lowering the price 5% then another 5% from where the listing agent suggested we start. I remembered that when I sold my prior home, 25 years ago, the selling agent insisted that she be there to show the property wh...
by cherijoh
Sat Apr 22, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: IRA One-Rollover-Per-Year Rule
Replies: 6
Views: 378

Re: IRA One-Rollover-Per-Year Rule

Twice this year I did a trustee to trustee transfer from an old 401k to a Vanguard IRA. I still have money left in the old 401k and want to do a third transfer. I am confused on the IRA one-Rollover-Per-Year Rule. I think I am fine because it appears that trustee to trustee transfers do not apply b...
by cherijoh
Sat Apr 22, 2017 12:27 pm
Forum: Personal Consumer Issues
Topic: Six pack for barbecue?
Replies: 77
Views: 4943

Re: Six pack for barbecue?

This being Bogleheads... you should diversify among the IBU's and styles :) :beer (Some places will allow you to build your own six- or twelve packs-- since you don't seem to have a full knowledge of beers, you might ask a more knowledgeable clerk at a store to help build a good assortment. ) {Here...
by cherijoh
Sat Apr 22, 2017 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage recast or higher down payment ?
Replies: 2
Views: 266

Re: Mortgage recast or higher down payment ?

Lender suggested that I recast my loan right away after closing , instead of paying the excess cash upfront as higher down payment. I believe he said that since I was already underwritten for a different down payment amount, and the lender did not want to introduce many changes later . I am wonderi...
by cherijoh
Sat Apr 22, 2017 8:28 am
Forum: Personal Consumer Issues
Topic: Terminal Cancer Diagnosis for 5 year old: What would you do?
Replies: 32
Views: 5379

Re: Terminal Cancer Diagnosis for 5 year old: What would you do?

You can go to https://www.mealtrain.com/ to set up a schedule for friends/family to bring them meals. Easy to set up and very helpful for the parents to not have to worry about it. Probably most useful in the first 30 days or so as they're figuring things out. +1 I was just going to post the same t...
by cherijoh
Sun Apr 16, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 10800

Re: My kids don't care about saving

Saving now instead of spending now is merely delaying present consumption for the sake of future consumption. Nothing wrong with that. Unfortunately, the people who often don't do this say things that don't make sense like, "Well what if I save all this money and then die before I get to use i...
by cherijoh
Sun Apr 16, 2017 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4291

Re: How to Avoid Tax Refund Being Seized

I understand your desire for privacy in an online forum. but it's easier to get good advice with complete information. As EATaxguy said, the seizure of tax refunds by the IRS (Treasury Offset) is only used for a limited number of things, and unless there was a court judgement, random consumer debt ...
by cherijoh
Sun Apr 16, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: General retirement questions
Replies: 24
Views: 3445

Re: General retirement questions

What is your Adjusted Gross Income (line 37 on your 1040 tax form)? If AGI is under 184K, you and your wife can make full Roth IRA contributions for tax year 2016. You should max out employee contributions your 401k at work. The max is 54K. If you max out employee contribution for 18K, that leaves ...
by cherijoh
Sun Apr 16, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: When need and want take different paths.......
Replies: 30
Views: 2246

Re: When need and want take different paths.......

It would be the almost daily driver ......... I guess you would be surprised how few miles you drive when you retire, your malls, doctors, grocery stores and such are not very far away and you travel frequently not even taking the car to the airport or seaport. Having had lots of fun over my life i...
by cherijoh
Sun Apr 16, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Carrying a mortgage into retirement
Replies: 39
Views: 4511

Re: Carrying a mortgage into retirement

In general I'm not opposed to having a mortgage in retirement - the monthly payment is just another expense you need to budget for. In fact I'm halfway retired (working half time) and we just took out a mortgage when we purchased our retirement home. I do have a couple of questions for OP: You say ...
by cherijoh
Thu Apr 13, 2017 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: When need and want take different paths.......
Replies: 30
Views: 2246

Re: When need and want take different paths.......

...You don't need it, you don't drive much anymore (5K annual)... Unless you are talking about a classic car, this actually would be a scenario where a lease makes sense. Think of it as an expensive 3 year rental trial period. If you really like it then you can buy it knowing you will be satisfied....
by cherijoh
Thu Apr 13, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: When need and want take different paths.......
Replies: 30
Views: 2246

Re: When need and want take different paths.......

Let's suppose you are retired and your financial future is secure. ... as in pension and SS pay all the bills and your investments pay for frills, toys and travel easily. Let's further suppose you had an unscratched car itch that could be handled without any strain despite being at a number that st...
by cherijoh
Wed Apr 12, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Severance
Replies: 16
Views: 1645

Re: Severance

Do you have access to someone who could actually make the decision to provide an exception for you? If so, you could ask that person about it. If not, then your chances of getting cash instead are slim to nil. You're on the way out the door and they have zero incentive to give you anything more tha...
by cherijoh
Wed Apr 12, 2017 4:54 pm
Forum: Investing - Help with Personal Investments
Topic: IRA for 2016 & Need some assistance with 401K funds changed by employer
Replies: 31
Views: 1516

Re: IRA for 2016 & Need some assistance with 401K funds changed by employer

That is not to say that this arrangement isn't potentially dangerous - it does make it easy for a borrower to get over his/her head. That's kind of what I thought. Making it easy for a borrower to get over his/her head is what I meant by "predatory". I was thinking of the dictionary defin...
by cherijoh
Tue Apr 11, 2017 7:24 am
Forum: Investing - Help with Personal Investments
Topic: IRA for 2016 & Need some assistance with 401K funds changed by employer
Replies: 31
Views: 1516

Re: IRA for 2016 & Need some assistance with 401K funds changed by employer

No. It's a recent HELOC with a 10 year draw period. The repayment period is 20 years. We have 9 more years to use the HELOC funds and then have to start paying back whatever the balance is at the end of the 10 years. We pay double - all interest due & same toward principal. Interesting set up. ...
by cherijoh
Sat Apr 08, 2017 7:04 am
Forum: Forum Issues and Administration
Topic: Disappearing posts?
Replies: 21
Views: 2849

Re: Disappearing posts?

Again, why don't you PM a moderator? Because I'm asking for a change in moderation behavior, not for someone to dig up one post. I think those discussions should happen in the light of day provided by the public forum, not in a PM with a single moderator. I think you're asking for too much. The mod...
by cherijoh
Sat Apr 01, 2017 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10434

Re: Saving 50% of salary; what does it really mean?

It is gross for us. We have 120K income and our before taxes are: 18K to his 401K, 18K to her 401K, 18K to her 457, $5500 to his traditional IRA, $5500 to her traditional IRA = 65K before taxes. Therefore 120K - 65K = 55K left but we live in no state income tax. Also, 9% to pension requirement. The...
by cherijoh
Sat Apr 01, 2017 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: Feel Behind -- Thoughts on my Strategy?
Replies: 17
Views: 1639

Re: Feel Behind -- Thoughts on my Strategy?

Trying to figure out how much more we should aim to save each year going forward if my strategy won't seem to be enough. We could maybe scrape up a little more than the $15K I've planned for, but unsure how much. I just want to be comfortable as we age and have options, that's all. You haven't prov...
by cherijoh
Sat Apr 01, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10434

Re: Saving 50% of salary; what does it really mean?

Jags4186 wrote:If you gross $100,000 a year, save $50,000 though any combination of taxable and tax deferred savings plans.

If you gross $500,000 a year, save $500,000 through any combination of taxable and tax deferred savings plans.


Shouldn't your second savings number by $250K?
by cherijoh
Sat Apr 01, 2017 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 10434

Re: Saving 50% of salary; what does it really mean?

It is gross for us. We have 120K income and our before taxes are: 18K to his 401K, 18K to her 401K, 18K to her 457, $5500 to his traditional IRA, $5500 to her traditional IRA = 65K before taxes. Therefore 120K - 65K = 55K left but we live in no state income tax. Also, 9% to pension requirement. The...
by cherijoh
Sat Apr 01, 2017 9:46 am
Forum: Investing - Theory, News & General
Topic: Kindle Specials on Four Pillars and If You Can
Replies: 22
Views: 3114

Re: Kindle Specials On Four Pillars and If You Can

Thanks for posting this info!
by cherijoh
Sat Apr 01, 2017 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Unemployed for 2-3 days- potential benefits
Replies: 24
Views: 2041

Re: Unemployed for 2-3 days- potential benefits

Since income and finances are handled annually... probably not. If you are not insured for those 2 days, don't get sick or hurt! Rolling over any 401k to new employer would have to be done... when you are employed. Why would anyone want to roll their 401k to a new company one? Wouldn't you always w...
by cherijoh
Sat Apr 01, 2017 8:36 am
Forum: Investing - Help with Personal Investments
Topic: Feel Behind -- Thoughts on my Strategy?
Replies: 17
Views: 1639

Re: Feel Behind -- Thoughts on my Strategy?

Trying to figure out how much more we should aim to save each year going forward if my strategy won't seem to be enough. We could maybe scrape up a little more than the $15K I've planned for, but unsure how much. I just want to be comfortable as we age and have options, that's all. You haven't prov...
by cherijoh
Fri Mar 31, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off Massive Student Loan Debt with Mortgage Refi?
Replies: 46
Views: 2209

Re: Pay of Massive Student Loan Debt with Mortgage Refi?

My husband is a Physical Therapist with a lengthy list of graduate loans with very high interest rates. He currently has about $153,000 in federal loans sitting at 8.5% and $100,000 sitting at 6.5%. A total of around $253,000. He has been making payments towards the Income Based Payment plan of $66...
by cherijoh
Fri Mar 31, 2017 5:13 pm
Forum: Investing - Theory, News & General
Topic: anyone factor in future inheritance?
Replies: 78
Views: 4776

Re: anyone factor in future inheritance?

I helped my widowed mother with her investments and taxes, so I had a fair idea of where her finances stood. Everyday expenses were covered by pension and SS, but large ticket items came out of investments - what she jokingly referred to as "our inheritance". After my dad passed away after...
by cherijoh
Fri Mar 31, 2017 3:59 pm
Forum: Investing - Help with Personal Investments
Topic: contributed after tax money to a roll over tira
Replies: 11
Views: 458

Re: contributed after tax money to a roll over tira

about 7 years ago You're probably stuck with your past mistakes, I think the maximum time to file an amended tax return is 3 years or so. Your CPA will be able to tell you specifically for your situation though. You don't need to amend your tax return to file an 8606. I don't know if there is a dea...
by cherijoh
Fri Mar 31, 2017 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Does estate pay tax on 401k when no 401k beneficiary?
Replies: 3
Views: 330

Re: Does estate pay tax on 401k when no 401k beneficiary?

Any clarifications would be helpful because my HR guy is suggesting I NOT specify a contingent beneficiary and let it flow into the estate and be governed by the Will. That seems like a bad idea because it forces the money to go through probate which adds time & expense. Don't let someone in HR...
by cherijoh
Fri Mar 31, 2017 5:42 am
Forum: Personal Finance (Not Investing)
Topic: Divorcing and handling shared and split assets after divorce
Replies: 55
Views: 3291

Re: Divorcing and handling shared and split assets after divorce

It seems like this arrangement is just too complicated. Have you considered trying to work out something that's much simpler and doesn't involve any sharing (except for the kids)? It's interesting to see a lot of replies basically questioning the nesting idea. I couldn't think of anything simpler. ...
by cherijoh
Thu Mar 30, 2017 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff?
Replies: 9
Views: 1235

Re: Mortgage payoff?

I recently moved to a new home. I bought it before selling the prior house. I intended to sell before buying and use the proceeds for the new house and not take out a mortgage, but it didn't work out that way. I could have paid cash, but would have had to liquidate IRAs and incur a large tax bill. ...
by cherijoh
Tue Mar 28, 2017 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Bonds in Inherited or Traditional IRA, or both?
Replies: 3
Views: 210

Re: Bonds in Inherited or Traditional IRA, or both?

Would you suggest bonds be 100% in inherited IRA, 100% traditional IRA, or 50/50? I would guess that 50/50 would be best from an ease-of-rebalancing perspective. Generally speaking, would bonds be best in an inherited IRA to keep its value down, from a required minimum distribution perspective? I w...
by cherijoh
Mon Mar 27, 2017 5:56 pm
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 159
Views: 19970

Re: Illusion of poverty/wealth

Or if look at it the boglehead way... "There is a whole 25% chance you will need it!" :oops: Sorry, but I consider a 25% chance of needing my portfolio to last at least xx years as NON trivial! I think the big issue is when you are very conservative and pile on safety margins all over the...
by cherijoh
Mon Mar 27, 2017 5:45 pm
Forum: Personal Consumer Issues
Topic: Virtual Private Networks (VPNs)
Replies: 149
Views: 10325

Re: Virtual Private Networks (VPNs)

Now seems to be a good time to get reacquainted with VPNs. I used one several years ago in conjunction with work, but don't really remember the particulars. Here are some starter questions: 1. Will a VPN cut down on broadband speeds? (Think DSL as well as FIOS) 2. What are some of the more reliable...
by cherijoh
Mon Mar 27, 2017 7:10 am
Forum: Personal Consumer Issues
Topic: Need advice about massive changes in daughter's college program by dean
Replies: 52
Views: 4105

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

How far into the degree is she? Junior or senior, I'd recommend she stick it out, get the degree and find a good school to go for a grad degree. Freshman or Sophomore, find a good school next year. Keep in mind, however that any merit aid is gone if she transfers. Backing up for a second....why are...
by cherijoh
Sun Mar 26, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Social Security earnings record
Replies: 5
Views: 636

Re: Social Security earnings record

I worked 1099 company1 in 2016 except for one week with an employer1. When does the self-employment taxes I paid show up in my Social Security earnings record? It might take a while. You don't actually pay the 2016 SE taxes until you file your 2016 taxes in 2017. Then IRS needs to send the data to ...
by cherijoh
Sun Mar 26, 2017 10:02 am
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA transfer question
Replies: 11
Views: 690

Re: Inherited IRA transfer question

I am helping a friend with some financial issues. Her father recently died. The father had an IRA at Merrill Lynch. She wants to move the money into an inherited IRA at Vanguard. She has two brothers and they all want to transfer the money out of Merrill into inherited IRAs at other places. Merrill...
by cherijoh
Sun Mar 26, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Is there any downside to Home Equity line of credit even if we won't use it immediately?
Replies: 24
Views: 2610

Re: Is there any downside to Home Equity line of credit even if we won't use it immediately?

I did use a Heloc on my old house as part of a way to make a cash offer for my current house. I was selling the old house in a few months anyway, so the higher interest rate didn't matter in any significant way. And it was obvious that absent a cash offer it was going to be challenging to buy a hou...
by cherijoh
Sun Mar 26, 2017 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Is there any downside to Home Equity line of credit even if we won't use it immediately?
Replies: 24
Views: 2610

Re: Is there any downside to Home Equity line of credit even if we won't use it immediately?

obgraham, Thanks, yes interest is slightly higher, but I suppose if I buy a 2nd home, the interest will still be higher or I would be required to put down more than usual to get that house, so it's either %1 higher interest or higher down paypayment, or whatever add'l interest bank will charge for ...
by cherijoh
Sun Mar 26, 2017 7:52 am
Forum: Investing - Help with Personal Investments
Topic: how to get a certified translation of bank statement
Replies: 8
Views: 437

Re: how to get a certified translation of bank statement

I am a Taiwanese citizen living in Taiwan and am required to provide a certified translation of my bank statement in order to open a trading account with a US brokerage firm. So, this will be from Chinese into English. Where do I go to get this done? A quick search on Google shows that many claim t...
by cherijoh
Sun Mar 26, 2017 6:54 am
Forum: Investing - Help with Personal Investments
Topic: Retire Early - Where to Place My Money With the Least Tax
Replies: 6
Views: 728

Re: Retire Early - Where to Place My Money With the Least Tax

I would like to retire before 59.5 years old. I am 42 and have saved at least 10% my entire working life so my retirement after the government lets me get at my money without penalty should be taken care of unless the market tanks. I recently started buying the Vangard 500 Index with after tax mone...
by cherijoh
Sat Mar 25, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Revokable Living Trust without telling the executor & beneficiary(s)?
Replies: 22
Views: 1469

Re: Revokable Living Trust without telling the executor & beneficiary(s)?

As for your executor being the main beneficiary, I would check with your lawyer about that. In VA, I don't' think that arrangement is legal. I am not a lawyer, so this is just one man's opinion, but I think there is some conflict of interest issue by having the main beneficiary also be executor. If...
by cherijoh
Sat Mar 25, 2017 8:33 am
Forum: Investing - Theory, News & General
Topic: When can you transfer in kind?
Replies: 23
Views: 1456

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 avai...
by cherijoh
Sat Mar 25, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Revokable Living Trust without telling the executor & beneficiary(s)?
Replies: 22
Views: 1469

Re: Revokable Living Trust without telling the executor & beneficiary(s)?

As for your executor being the main beneficiary, I would check with your lawyer about that. In VA, I don't' think that arrangement is legal. I am not a lawyer, so this is just one man's opinion, but I think there is some conflict of interest issue by having the main beneficiary also be executor. If...
by cherijoh
Fri Mar 24, 2017 7:49 am
Forum: Investing - Help with Personal Investments
Topic: Your Experiences with Risk Tolerance and having smaller versus larger account balances
Replies: 24
Views: 2047

Re: Your Experiences with Risk Tolerance and having smaller versus larger account balances

I am still convinced of the theoretical superiority of a 100% equity allocation for someone in my position, but I am wondering if I have false confidence as a result of never having had to watch "real" :moneybag disappear...Seeing a quarter million evaporate over the course of a few month...
by cherijoh
Fri Mar 24, 2017 7:20 am
Forum: Personal Finance (Not Investing)
Topic: brother managing mother's investments?
Replies: 7
Views: 1178

Re: brother managing mother's investments?

My brother has talked to my Mom about taking over her money management from the professional she's been using. He thinks she's in unduly conservative stuff given that she has a very generous pension that covers nearly all her living expenses and on top of that about $1 million in investments. He's ...
by cherijoh
Fri Mar 24, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 130
Views: 15427

Re: So someone drained $13k from my checking account...

The biggest question I would be asking of your credit union is why was the ACH ever approved in the first place. Mine requires two level authorization for larger (greater than 500) withdrawls (pushes) AND refuses any pull requests for accounts were the names don't match--they won't allow a push fro...
by cherijoh
Tue Mar 21, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Any downside in buying a brand new house ?
Replies: 71
Views: 4959

Re: Any downside in buying a brand new house ?

New houses can have problems too either from poor quality materials, poor workmanship or building site issues. Require a home warranty from the builder, make frequent visits to the site as the house is being constructed, and do a through inspection before accepting the completed house. I was able t...
by cherijoh
Tue Mar 21, 2017 6:59 am
Forum: Personal Consumer Issues
Topic: Northern Lights cruise, Norway, March 2018
Replies: 17
Views: 1562

Re: Northern Lights cruise, Norway, March 2018

Most (not all) of the regular cruise ships tend to sail up there in the warmer season. There is a reason for that! :wink: FYI - a couple I know vacationed at one of the ice hotels and brought back lots of photos. Brrrr! They had planned to stay a couple of nights, but their travel agent discouraged...
by cherijoh
Mon Mar 20, 2017 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended emergency fund for middle class households: $13,800
Replies: 64
Views: 6756

Re: Recommended emergency fund for middle class households: $13,800

I'm curious how many months of expenses the average Boglehead keeps in an emergency fund, and where they keep it. We have five months earmarked within a Roth IRA plus two months earmarked in a high yield savings account; we add to the savings account bucket each month. We fluctuate between 3 to 6 m...

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