Search found 2572 matches

by cherijoh
Sat May 28, 2016 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces
Replies: 21
Views: 2071

Re: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces

I've been surprised at the number of our friends who have upgraded houses once the kids are gone. I can understand moving to a house with a master on the main level to prepare for older years but most also buy much bigger and nicer. It seems the motivation is usually described as "because we c...
by cherijoh
Sat May 28, 2016 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces
Replies: 21
Views: 2071

Re: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces

From the article: The bottom line, though, is simply this: perhaps it’s time to stop guilting parents in their 30s and 40s about not saving enough, and recognize the savings opportunity for empty nesters in their 50s and 60s. Because telling parents to save 10%-20% of their income during the child-...
by cherijoh
Sat May 28, 2016 11:22 am
Forum: Personal Finance (Not Investing)
Topic: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces
Replies: 21
Views: 2071

Re: "Why The Empty Nest Transition Is Crucial For Retirement Success" by Michael Kitces

I've been surprised at the number of our friends who have upgraded houses once the kids are gone. I can understand moving to a house with a master on the main level to prepare for older years but most also buy much bigger and nicer. It seems the motivation is usually described as "because we c...
by cherijoh
Thu May 26, 2016 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: RMD paid after a death to the incorrect person through a savings account with a different named beneficiary
Replies: 8
Views: 860

Re: RMD paid after a death to the incorrect person through a savings account with a different named beneficiary

My Father passed away last year on June 5th at the age of 83- he made me the sole beneficiary of his IRA back in 1986 before he had remarried- I didn't know that he had signed up for automatic RMD and had the funds transferred to a savings account in which his estranged wife was beneficiary (same f...
by cherijoh
Thu May 26, 2016 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA with RMDs in peak earning years -- other options?
Replies: 24
Views: 1531

Re: Inherited IRA with RMDs in peak earning years -- other options?

And you can't have a Roth conversion count as the RMD, though you can do a Roth conversion of inherited IRA. Only if you inherit your IRA from your spouse: Spouses Only Though death did part you and your spouse, the benefits of your marriage continue to live on in one financial way. Only an IRA inh...
by cherijoh
Wed May 25, 2016 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Expected Social Security Benefit if I Have No Income for Five Years Before Claiming at 70
Replies: 96
Views: 5234

Re: Expected Social Security Benefit if I Have No Income for Five Years Before Claiming at 70

I just finished spending a fair amount of time with the latest 2016 anypia software, loading my history, etc., dealing with what I felt were somewhat poorly documented data field terms and so forth, but my conclusion is that if about 6 years out from now I stop working at 65 but wait to collect at ...
by cherijoh
Wed May 25, 2016 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is Real Estate Market going crazy again?
Replies: 77
Views: 6072

Re: Is Real Estate Market going crazy again?

We didn't plan to sell our house and never listed our house anywhere, yet we have received three different letters in the last three months asking if we are willing to sell. The offers include cash payment, no inspection, buy as is, no appraisal. Is the market going crazy or is this some kind of sc...
by cherijoh
Tue May 24, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2 Big Companies merging = no severance package?
Replies: 24
Views: 2118

Re: 2 Big Companies merging = no severance package?

In general, when companies merge, you keep your seniority for things like vacation accrual, etc. Unless you are working under a collective bargaining agreement, severance pay is totally optional, and the company can and will change it anytime they want. It's a truism that if a company is going thro...
by cherijoh
Mon May 23, 2016 6:08 pm
Forum: Personal Consumer Issues
Topic: Canada driving [Oregon US to Novia Scotia - What to see?]
Replies: 25
Views: 1700

Re: Canada driving

The locks right there in Sault Ste. Marie is pretty interesting if you have never got close and seen them working before. Montreal is a must see (old citadel for sure). Cape Breton Island in Nova Scotia is pretty nice. +1 I really enjoyed a walking trip I did on Cape Breton Island. I also did a wee...
by cherijoh
Sun May 22, 2016 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Rollover - silly concern
Replies: 27
Views: 1710

Re: Rollover - silly concern

Unless I am missing something, under this plan Fidelity will cut a check for 80% of your balance and withhold the remaining 20% for taxes. You will have 60 days to effect the transfer and get all the monies to Vanguard, but why not simply have the check mailed directly to Vanguard and save the aggr...
by cherijoh
Sat May 21, 2016 11:20 pm
Forum: Personal Consumer Issues
Topic: How do Bogleheads TRAVEL?
Replies: 81
Views: 8134

Re: How to Bogleheads TRAVEL?

2011 was a Trafalgar Bus Tour that started in London and went to Amsterdam, Heidelberg, Lucerne, and then Paris. It was run with military precision and was pretty much late to bed and early to rise. I bought all the extras and so the time was fairly packed in. Did a lot, saw a lot in eight days but...
by cherijoh
Sat May 21, 2016 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Rebuilding our house for $1.5M: Bad Idea Financially?
Replies: 91
Views: 7961

Re: Rebuilding our house for $1.5M: Bad Idea Financially?

There seems to be a disconnect in some of these posts. While he will be house heavy, at least temporarily, it's not like the wealth vanished. He can downsize later and get his equity out. It is a 3000sq ft house, not some grotesque 15k sq ft disaster in the middle of nowhere that takes 3 years to s...
by cherijoh
Sat May 21, 2016 9:01 pm
Forum: Investing - Help with Personal Investments
Topic: Cost basis problem with Vanguard re inherited assets
Replies: 16
Views: 1297

Re: Cost basis problem with Vanguard re inherited assets

Hi, mcraepat9 - yes perhaps that's the way I should look at it. So - I could override Vangaurd's quoted cost basis when tax time comes around?? Gill - yes it is a corporate trustee, a bank. And yes, I thought that it would simply have been easier for Vanguard to accept the statements from the trust...
by cherijoh
Sat May 21, 2016 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 3632

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Hi all, We're finally deciding on buying a home in New Jersey. When I use different calculators, based on my salary of over 150k, no debt and just regular monthly bills, they all show that I can afford over 750K house. Being conservative with money, I am trying to be under 600K. My dilemma is that ...
by cherijoh
Sat May 21, 2016 7:34 pm
Forum: Personal Consumer Issues
Topic: series/ movies filmed in your home town?
Replies: 87
Views: 2633

Re: series/ movies filmed in your home town?

So: - have you noticed your town or city being used for filming? Which shows? - is it honestly attributed or do you stand in for somewhere else? - is the industry significant to your home town's economy, and to you personally? - any investment thesis one could create out of that? Homeland was (is?)...
by cherijoh
Sat May 21, 2016 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Rebuilding our house for $1.5M: Bad Idea Financially?
Replies: 91
Views: 7961

Re: Rebuilding our house for $1.5M: Bad Idea Financially?

Did you live there when the housing bubble burst in 2008? It sure feels like the rebuild is doubling down on the risks of owning homes in cyclical markets. How secure is your income? Is it exposed to the same risks? Like, the local economy :) +1 OP, you are currently in a good position financially ...
by cherijoh
Sat May 21, 2016 11:26 am
Forum: Personal Consumer Issues
Topic: Whats the point of MBA? Should I get it if I'm going to Cyber Security career?
Replies: 36
Views: 1960

Re: Whats the point of MBA? Should I get it if I'm going to Cyber Security career?

Background: I got laid off recently from a Fortune 50 company. I studied Management information systems and got my bachelors. I was making $65k at my job as an operations/event manager more directed towards service part of IT. I've always been interested in Cyber Security and looking to go that rou...
by cherijoh
Fri May 20, 2016 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: IRA-to-Roth conversion in Vanguard
Replies: 23
Views: 1445

Re: IRA-to-Roth conversion in Vanguard

Are the mechanics of converting some of my IRA to a Roth in my Vanguard account really as simple as clicking the Convert To Roth IRA button and selecting the shares that I want to convert? Yes, I did it a few weeks ago 1. Will the corresponding shares just show up under my Roth account (ie. I don't...
by cherijoh
Thu May 19, 2016 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 314

Re: Pride in no inheritance to kids?

Indeed it is part of a parent's responsibility and a labor of love, to assist children who would have difficulty thriving financially -- IF the parents are able. My two children, ages 19 and 20, will likely never attend college and I am not sure that they would be able to get jobs in a profession t...
by cherijoh
Wed May 18, 2016 7:41 pm
Forum: Personal Consumer Issues
Topic: Multi-destination trip---how to book
Replies: 10
Views: 840

Re: Multi-destination trip---how to book

I would book each leg separately to take advantage of different airlines. But I would first figure out the whole trip before I paid for anything. Warning: If you do this and something happens to delay you during one part of the trip, the rest of the trip will expect you to still show up. I recommen...
by cherijoh
Wed May 18, 2016 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 314

Re: Pride in no inheritance to kids?

I am not sure if "pride" is what you are seeing. I do think that many who are anti-inheritance, or anti-gifting while they are alive, believe that inheritance/gifts will be a disincentive for their kids to become productive, self-supporting adults. Not a point-of-view that I agree with, b...
by cherijoh
Sun May 15, 2016 9:31 am
Forum: Personal Consumer Issues
Topic: Buying a house for an adult child (child adult?)
Replies: 94
Views: 8162

Re: Buying a house for an adult child (child adult?)

Jobs are sometimes lost for completely innocent reasons, but just as often they are lost for avoidable reasons. For instance, did everyone at the company/business lose their job? If not, I bet whoever's running the place kept the best workers. You obviously don't work at a MegaCorp. It has been my ...
by cherijoh
Sun May 15, 2016 9:12 am
Forum: Personal Finance (Not Investing)
Topic: 25x income needs or 25x residual living expenses?
Replies: 24
Views: 3466

Re: 25x income needs or 25x residual living expenses?

Novicemoney, Forget about SWR. If you need $18K a year for 8 years (age 62 to 70), you only need $144K in today's dollars. After you turn 70, your SS and pension will cover your expenses. If you would like to leave something for your heirs, then the calculations would be different. SS is currently ...
by cherijoh
Sun May 15, 2016 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Pay down mortgage (remove MIP), invest, save?
Replies: 23
Views: 1336

Re: Pay down mortgage (remove MIP), invest, save?

OP, What is your marginal tax rate? Do you pay state income tax? If your marginal tax rate is 25% and you CHOOSE not to put more money into Trad. 401K, essentially you are paying 25% tax on those money. So, is it worthwhile to pay 25% tax to save 11.3%? One of the option is to put more money into y...
by cherijoh
Sat May 14, 2016 7:19 am
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage INSTEAD of Investing
Replies: 27
Views: 1935

Re: Intra-Family Mortgage INSTEAD of Investing

If your tax brackets are similar, there's no reason to mess around with a side deal on a mortgage. It would be better to simply gift some cash each year. When the tax brackets are significantly different, it is tempting to fiddle a bit to move money from the high tax bracket to the lower tax bracke...
by cherijoh
Sat May 14, 2016 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Retire Early -or- Not At All
Replies: 31
Views: 3443

Re: Retire Early -or- Not At All

I've thought about both. When I was employed my plan was to cash out at mid 40's at the latest as I was sick of being told what to do at work. I went on my own now as a solo physician and love it. I doubt I will ever retire. I will likely cut down when I hit my "Number" and just work when...
by cherijoh
Fri May 13, 2016 5:51 am
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage INSTEAD of Investing
Replies: 27
Views: 1935

Re: Intra-Family Mortgage INSTEAD of Investing

I did a quick search on intra-family mortgages, but it seems like most situations are for the borrower to get a lower -than-market interest rate. I want to charge higher -than-market interest rate. My mother has a loan on a commercial property. The interest rate is around 6%. Rather than pay intere...
by cherijoh
Fri May 13, 2016 5:30 am
Forum: Personal Finance (Not Investing)
Topic: Can someone explain to me how Term life is a better choice than WLI.
Replies: 69
Views: 5765

Re: Can someone explain to me how Term life is a better choice than WLI.

Term Life insurance pays only if you die. It does not build up a cash value. Whole Life basically is term insurance plus it builds up a cash value. Term insurance is cheaper than Whole Life. Most people would be better off getting Term Insurance to protect their family and investing the difference....
by cherijoh
Fri May 13, 2016 5:00 am
Forum: Personal Finance (Not Investing)
Topic: Advice on analyzing job offer when leaving stock behind?
Replies: 6
Views: 535

Re: Advice on analyzing job offer when leaving stock behind?

.. offers a lot of flexibility in terms of where and when I can work, which is very important to me (my current employer requires me to be based in a different part of the country ... What about the cost of living in your current vs. future location? If they aren't approximately the same you need t...
by cherijoh
Wed May 11, 2016 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: Feedback requested on Roth conversion situation & assessment
Replies: 10
Views: 1652

Re: Feedback requested on Roth conversion situation & assessment

Each situation is different, but I'm generally not in favor of conversions at 33%. It seems more likely than not that you will be in a lower bracket early in retirement unless you have a very generous pension. There is a reason you deferred taxes in the first place. Converting now could mean you ac...
by cherijoh
Tue May 10, 2016 9:09 pm
Forum: Personal Consumer Issues
Topic: Buying a house for an adult child (child adult?)
Replies: 94
Views: 8162

Re: Buying a house for an adult child (child adult?)

Yes, my wife is pushing this vehemently. The down payment is being extracted from their employee 401K plans. Their credit got whacked when one of them lost their job for a while and bills were not paid for a time. I think their scores are now in the low to mid 500 range. They've been told they do n...
by cherijoh
Sun May 01, 2016 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Small Overpayment on Taxes?
Replies: 13
Views: 1038

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: 5829

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: 1679

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: 1679

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: 3185

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: 1892

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: 3185

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: 54183

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: 3185

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: 1580

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: 424

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: 2970

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: 4843

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: 560

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: 1441

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: 6988

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: 4808

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: 562

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: 4844

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 ...

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