Search found 2902 matches

by cherijoh
Tue Aug 23, 2016 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 2987

Re: H

I was thinking of donating appreciated stock, so instead of paying capital gains taxes, the charity gets the proceeds. And instead of paying an insurance company for the annuity, the charity gets that business. At least that's my simple way of understanding the complicated transaction. I'm still no...
by cherijoh
Mon Aug 22, 2016 3:09 pm
Forum: Personal Consumer Issues
Topic: Please, please advise...Health insurance terminated by insurance company
Replies: 40
Views: 2380

Re: Please, please advise...Health insurance terminated by insurance company

That is how my insurance works as well, which is why I was confused on how you could miss a checking account draft for $750! This suggests that nesting an automatic draft within an automatic draft is a good way to lose line of sight into a critical payment. All the individual insurance companies in ...
by cherijoh
Mon Aug 22, 2016 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 2987

H

Yes, so was their mistake to change the beneficiary or not informing the donor? If the latter, and they had informed the donor, would they have been in the clear as far as the lawsuit? Or was changing the beneficiary the (informing or not) the problem? And if that was the problem, why qualify it wi...
by cherijoh
Mon Aug 22, 2016 8:58 am
Forum: Personal Consumer Issues
Topic: Please, please advise...Health insurance terminated by insurance company
Replies: 40
Views: 2380

Re: Please, please advise...Health insurance terminated by insurance company

How did you not realize that $750/ month wasn't coming out of your account? :confused That is NOT a trivial sum.
by cherijoh
Mon Aug 22, 2016 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 2987

Re: Could I use a Donor Advised Fund as an alternative retirement vehicle?

How complicated. I'm not sure I'm following it all correctly, but my understanding is that they didn't actually break any laws. They went bankrupt because a decision went against them. Apparently, what they were doing was legal before 2006 law change. After the change, they couldn't have the benefi...
by cherijoh
Mon Aug 22, 2016 5:46 am
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 2987

Re: Could I use a Donor Advised Fund as an alternative retirement vehicle?

The situation gets more complicated with three primary people funding and directing the charity. Friends that you may be, with no one taking a salary, it might be presumptuous to assume your co-founders will agree that you should be paid. This is not a tax question, but an issue of how they view th...
by cherijoh
Sun Aug 21, 2016 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Get a mortgage even if not needed?
Replies: 41
Views: 3537

Re: Get a mortgage even if not needed?

You may want to look into the rules on whether or not a mortgage after a cash purchase will qualify for deductible interest. I believe there is a time limit on qualifying as "acquisition cost" (with a $1MM max limit to qualify for tax deductible interest) vs. "home equity" ( wit...
by cherijoh
Sun Aug 21, 2016 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Get a mortgage even if not needed?
Replies: 41
Views: 3537

Re: Get a mortgage even if not needed?

I'm 35. No pensions but ~$150k in my IRAs. My rent right now is $2300 so I like the idea of keeping the payments around there, although maybe that's silly since there are property taxes, other new expenses, as well as tax deductions to consider. Real estate is very expensive here. A starter home is...
by cherijoh
Sun Aug 21, 2016 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Get a mortgage even if not needed?
Replies: 41
Views: 3537

Re: Get a mortgage even if not needed?

I'm getting closer to buying my first house with cash but I wonder if it would be advantageous to finance part of the purchase even though I could afford to pay in cash. I don't have any debt. Is cash always the best way to pay if possible? It is not possible to say which is the "best" op...
by cherijoh
Sun Aug 21, 2016 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Get a mortgage even if not needed?
Replies: 41
Views: 3537

Re: Get a mortgage even if not needed?

One of the options that we are considering for a downsize retirement home. We own present home but our target home is Seattle which may be 2x our present house. We could swing a cash purchase but the I'll have to do more planning on where the cash will come from. I am looking more into a cash purch...
by cherijoh
Sat Aug 20, 2016 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: How should I manage relocation money from employer?
Replies: 6
Views: 387

Re: How should I manage relocation money from employer?

I'm making a move across the country with family and my employer (a hospital system) is providing $20k towards relocation. They told me it would be dispersed into two initial bi-weekly paychecks (both in 2016), and I can use it for whatever moving expenses are needed. This is nice, but I want to ca...
by cherijoh
Sat Aug 20, 2016 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting whole estate in life
Replies: 77
Views: 4035

W

A trust insures the family's wishes will be carried out and creates a legal obligation to do so. On the other hand, creating the expectation that multiple family members of several generations will abide by these wishes in spite of deaths, divorces, changing financial needs and other contingencies ...
by cherijoh
Sat Aug 20, 2016 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Fraud: How many times is 'normal'?
Replies: 24
Views: 1284

Re: Credit Card Fraud: How many times is 'normal'?

5 times in the last 8 years, my credit card account has been compromised with unauthorized charges. Am I to blame because I buy things online? Or, is it more likely that the card has been 'skimmed' or copied from physical transactions? I just signed up for citi double cash back card and they offer ...
by cherijoh
Sat Aug 20, 2016 8:08 am
Forum: Personal Consumer Issues
Topic: Airbnb rental review
Replies: 32
Views: 3342

Re: Airbnb rental review

But the op stated that it actually worked out fine even in summer. I would state the fact that in summer it gets down to 60s at night. It was fine without AC. As someone who has experienced a hotel room without A/C where it normally gets down to the 60's at night but it was actually north of 75 and...
by cherijoh
Sat Aug 20, 2016 7:33 am
Forum: Personal Finance (Not Investing)
Topic: How to fund down payment on second home.
Replies: 14
Views: 1514

Re: How to fund down payment on second home.

Long term capital gains should not affect your marginal tax rate as it is not income...it's LTCG . That said, you probably don't want to realize the taxes now so I would look into a bridge loan. LTCG are indeed income and are included in your total income (1040 line 22) and adjusted gross income (1...
by cherijoh
Sat Aug 20, 2016 7:10 am
Forum: Investing - Theory, News & General
Topic: High RMD’s, would you do anything different?
Replies: 54
Views: 4744

Re: High RMD’s, would you do anything different?

...Postponing the age you start taking social security can also backfire if it bumps you into higher tax/surcharge brackets. While I'm kicking myself for putting too much in my 401ks and it is annoying thinking about the extra tax I'll have to pay... It sounds like you are letting the tail (taxes) ...
by cherijoh
Fri Aug 19, 2016 6:22 am
Forum: Personal Consumer Issues
Topic: Medical Billing Question - Hospital Discharge Instructions led to acetaminophen OD
Replies: 68
Views: 4438

Re: Medical Billing Question - Hospital Discharge Instructions led to acetaminophen OD

First off, I'm sorry that this happened to your son. This is a good reminder to those of us in the medical field to be more specific with max dosage/length of treatment. Usually the problem is people not taking their prescribed medication. How much did they give your son? For children (assuming his...
by cherijoh
Fri Aug 19, 2016 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Christine Benz: "401(k) Loans: Mythbusters Edition"
Replies: 16
Views: 2163

Re: Christine Benz: "401(k) Loans: Mythbusters Edition"

I think there is a bit of a conundrum - people who are disciplined enough to make wise use of a 401k loan either have enough of a safety net not to need one or else they consider it a resource of last resort. My biggest concern is that it gives some people the illusion that they afford something the...
by cherijoh
Fri Aug 19, 2016 5:08 am
Forum: Personal Finance (Not Investing)
Topic: Large amount of home equity - tempting to cash out and FIRE?
Replies: 57
Views: 4107

Re: Large amount of home equity - tempting to cash out and FIRE?

That is one of the challenges with trying to treat your home as an investment as so many posters are wont to do. You can't realize your "profit" until you move somewhere else. I wouldn't necessarily assume that home values will continue to shoot straight up and I certainly think it would b...
by cherijoh
Fri Aug 19, 2016 4:49 am
Forum: Personal Finance (Not Investing)
Topic: What is the best way to send the direct rollover check to Vanguard?
Replies: 35
Views: 2815

Re: What is the best way to send the direct rollover check to Vanguard?

BTW, just curious, is it in fact a "direct" rollover? Going to you instead of a direct transfer from TRP to Vanguard seems odd. No taxes withheld for the 60 day window? This is a curious feature of rollovers from some 401k plans - not just TRP. I forget the exact wording as I did my direc...
by cherijoh
Wed Aug 17, 2016 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA to Roth conversion, how to pay tax and have 100% of it go to my Roth?
Replies: 30
Views: 1673

Re: Rollover IRA to Roth conversion, how to pay tax and have 100% of it go to my Roth?

No, VG doesn't have to withhold taxes if you have them do the conversion without you getting your hands on the money. Mandatory withholding only applies when the distribution is sent directly to you. No, no, and no. There is never mandatory withholding for IRA distributions. The only time it is man...
by cherijoh
Tue Aug 16, 2016 9:10 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA to Roth conversion, how to pay tax and have 100% of it go to my Roth?
Replies: 30
Views: 1673

Re: Rollover IRA to Roth conversion, how to pay tax and have 100% of it go to my Roth?

I don't understand how this works. My goal is to reduce my RMDs in 5 years. Say I take a distribution (and stay in the 15% tax bracket not that this should matter) from my Vanguard Rollover IRA and want to do a Roth conversion putting 100% of the distribution into my Vanguard Roth account. I have t...
by cherijoh
Tue Aug 16, 2016 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Getting out of my debt vs using tax advantaged space - which is better?
Replies: 18
Views: 1195

Re: Getting out of my debt vs using tax advantaged space - which is better?

I'd maybe look into refinancing the house (you might be able to get lower than 4.25% right now, although you've only been in it for a year), but not moving this quickly. OP probably needs to get rid of some debt before he can qualify for a better mortgage rate. Lenders heavily discount the amount o...
by cherijoh
Tue Aug 16, 2016 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Getting out of my debt vs using tax advantaged space - which is better?
Replies: 18
Views: 1195

Re: Getting out of my debt vs using tax advantaged space - which is better?

A little background stats: I'm 35, my wife is 26, and we have a 1 yr daughter with another expected early next year. We just built a house this year and while I did plenty of spreadsheets on the costs and budgets, I'm starting to feel overwhelmed and second guess myself. I used to be ok carrying de...
by cherijoh
Mon Aug 15, 2016 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Trust vs TOD on estate
Replies: 10
Views: 733

Re: Revocable Trust vs TOD on estate

My mom has an estate in the 1.5 million range- no federal issues. Her lawyer suggest a revocable trust to avoid probate & state taxes. Probably 25-30k due her home state (Delaware) Instead I was thinking about Transfer on Death orders on her main investment accounts. Her only other tangible ass...
by cherijoh
Mon Aug 15, 2016 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Double Income No Kids (but expect kids in future) - How much home can we afford?
Replies: 28
Views: 2738

Re: Double Income No Kids (but expect kids in future) - How much home can we afford?

My wife and I are software developers, and are planning to purchase a house. Have seen rules of thumb for how much we can afford - e.g., 2.5 times your income, or monthly payments ~ 0.36 of your monthly income. We eventually plan on having kids (no clue how many) and we are uncertain how long my wi...
by cherijoh
Mon Aug 15, 2016 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 260
Views: 28127

Re: Self-made Millionaires: how did hitting 7 figures change you?

A million dollars isn't what it used to be. A "millionaire" is no big deal, depending on your age. It puts you in the 1%. That's a pretty big deal. You are probably more wealthy and well off than 99.9% of persons throughout history. That's a pretty big deal. No, actually $1M doesn't put y...
by cherijoh
Mon Aug 15, 2016 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable account or non-deductible tIRA? [Portfolio help]
Replies: 16
Views: 673

Re: Taxable account or non-deductible tIRA? [Portfolio help]

This link will get you started. But don't just read it. Do the paperwork with pretend contributions for past years until you get it right. You can download old Forms from the internet. http://thefinancebuff.com/the-backdoor-roth-ira-a-complete-how-to.html Good idea. From what I recall of the "...
by cherijoh
Mon Aug 15, 2016 5:34 am
Forum: Investing - Help with Personal Investments
Topic: Should I backdoor Roth or just stick with taxable?
Replies: 17
Views: 1820

Re: Should I backdoor Roth or just stick with taxable?

You now see why having an outstanding 401k is such an important consideration. You will be saving $18k per year, every year (plus inflation) for up to 40 years. Having 1.1% fees instead of 0.1% fees will cost you about 1/5 to 1/4 of your final 401k value over your working career.* When you intervie...
by cherijoh
Sun Aug 14, 2016 10:50 am
Forum: Investing - Help with Personal Investments
Topic: Should I backdoor Roth or just stick with taxable?
Replies: 17
Views: 1820

Re: Should I backdoor Roth or just stick with taxable?

Wondering what the smart people here would recommend in my current financial situation. I'm currently single, 31, making ~$150K/year, firmly in the 28% tax bracket. I've reached the point where I can really start to invest above and beyond the 401(k) maximum. ⋅  Roth IRA: $67K, no contrib...
by cherijoh
Sun Aug 14, 2016 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Remote work W2, State Taxes?
Replies: 8
Views: 800

Re: Remote work W2, State Taxes?

Hi, I am currently working a W2 job for a company based in California, but am a 100% resident of another state. All the work is done remotely from home on my computer. On my stub, I noticed that CA state taxes are being withheld, and not for my current state of residence. Are there any others out t...
by cherijoh
Sun Aug 14, 2016 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Tried to get credit report - security questions don't match
Replies: 61
Views: 28510

Re: Tried to get credit report - security questions don't ma

These questions (the lunatic ones, like your address in third grade) are courtesy of the LexisNexis database. Unfortunately, most of our memories aren't as fine-tuned as their db, plus then you add in the errors that have crept onto our publicly accessible records, like credit reports and whatnot. ...
by cherijoh
Sun Aug 14, 2016 7:48 am
Forum: Personal Finance (Not Investing)
Topic: home equity loan interest for federal tax purposes on Sched A
Replies: 3
Views: 304

Re: home equity loan interest for federal tax purposes on Sched A

So I am looking at getting a home equity loan because the new advanced septic system required for my small waterfront lot will cost something like $35,000 and I would rather spread out the financial impact. Yes, this is very expensive, but it is the going rate from reputable designers/installers fo...
by cherijoh
Fri Aug 12, 2016 5:45 pm
Forum: Personal Consumer Issues
Topic: How much vacation time do you get at work?
Replies: 137
Views: 7471

Re: How much vacation time do you get at work?

How much paid time off (vacation/personal/sick) do you receive at your company? Do you typically take all of your allotted vacation time each year? ⋅ 20 days vacation/ year - I make sure I take all my vacation days, but I do sometimes put in extra hours for which I'm not compensated &sdot...
by cherijoh
Fri Aug 12, 2016 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Debt at Sacrifice of Leisure?
Replies: 77
Views: 4908

Re: Payoff Debt at Sacrifice of Leisure?

Student Loan 1 Interest Rate: 6.8% Student Loan 2 Interest Rate: Average 3.69% (It is a combination of 1 4.5%, 2 3.8%, 4 3.4% loans) Student Loan 3 Interest Rate: 0% Monthly expenses: $5k --- Yes, I just hit 30 years old and she will be 30 in January. Really hate having the burden of debt hanging o...
by cherijoh
Fri Aug 12, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Insight wanted on $$$ house purchase
Replies: 22
Views: 2328

Re: Insight wanted on $$$ house purchase

I see quite a few red flags in your post: The houses we are looking at are big enough that we shouldn't need to move for lack of space. Although cheaper townhouses are tempting, I know the transaction costs of selling a house and moving are very high, so I think it is best to just buy once and not n...
by cherijoh
Fri Aug 12, 2016 7:47 am
Forum: Personal Consumer Issues
Topic: Suppose one has been rear ended...
Replies: 33
Views: 2315

Re: Suppose one has been rear ended...

What you don't see is the unknown damage. File a claim with your insurance. If you file an insurance claim, wouldn't it be (primarily at least) with the other driver's insurance? If someone is rear-ended the other driver is deemed at fault. Your insurance will pay your claim then go after the other...
by cherijoh
Wed Aug 10, 2016 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Anyone have the BankAmericard Travel Rewards Credit Card?
Replies: 14
Views: 991

Re: Anyone have the BankAmericard Travel Rewards Credit Card?

I recently deposited a bunch of Euros into my US dollar Bank of America account and when I got home I looked at the receipt and realized that I had gotten totally hozed on the exchange rate. Every bank is going to hose you on the exchange rate for currency. It is a PITA for them and they want to be...
by cherijoh
Wed Aug 10, 2016 7:33 am
Forum: Personal Consumer Issues
Topic: Airbnb rental review
Replies: 32
Views: 3342

Re: Airbnb rental review

In airbnb culture, leaving less than 5 stars is like leaving a tip of less than 15%. You only do it if there was truly something wrong. The best place to address your unhappiness with the location of the AC is in the private comments to your host. They can use that information to improve their list...
by cherijoh
Tue Aug 09, 2016 10:50 pm
Forum: Personal Consumer Issues
Topic: new potential tenants negotiating on rent
Replies: 72
Views: 6421

Re: new potential tenants negotiating on rent

If you have not read this recent Boglehead post concerning nightmare tenants, I suggest you do. A thorough background check would have eliminated this potential renter from consideration. [url]=Evicting a tenant-Hire lawyer?[/url] Here's a working link to the thread mentioned above. It was an eye o...
by cherijoh
Tue Aug 09, 2016 10:37 pm
Forum: Personal Consumer Issues
Topic: new potential tenants negotiating on rent
Replies: 72
Views: 6421

Re: new potential tenants negotiating on rent

How many of you had tenants negotiate their monthly rent? I was already giving them a break with the security deposit, and now they want more. If anything,I feel insulted. So you're already unhappy with them as tenants. If it was me, I'd point out the (dangerously) low security deposit, not budge, ...
by cherijoh
Mon Aug 08, 2016 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Travel for a Year with Family - Career Impact?
Replies: 35
Views: 3474

Re: Travel for a Year with Family - Career Impact?

How does your wife feel about traveling the world with 6 young kids? It's a pretty different experience with 6 kids that young (and only two of you), and without the expense account you are used to. Finally, if you think your job is stressful, try travelling with 6 kids between the ages of 3-9 for ...
by cherijoh
Sun Aug 07, 2016 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor roth IRA conversion
Replies: 14
Views: 1141

Re: Backdoor roth IRA conversion

Now I need to convert this account to a Roth. This is a bit beyond semantics, because you will be moving funds from a tIRA to a rIRA, not converting the account. You need to open rIRAs in your and spouse's name. Move funds from tIRA to rIRA. File 8606 with your taxes. Leave the tIRA empty. Next yea...
by cherijoh
Sun Aug 07, 2016 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: 401K Contribution Discrepancy
Replies: 5
Views: 519

Re: 401K Contribution Discrepancy

Hi Bogleheads, I have a question about a discrepancy in my employer's reported 401K contributions vs the reported contributions in my Vanguard 401K account. Due to some "rollover contributions" that were credited in 2015 by my employer my current 2016 contributions are posting approximate...
by cherijoh
Sun Aug 07, 2016 10:30 am
Forum: Investing - Help with Personal Investments
Topic: I know about HSAs, but what about HRAs?
Replies: 12
Views: 980

Re: I know about HSAs, but what about HRAs?

I thought my employer was offering an HSA, but it is an "HRA" account for retirement. how do they differ? Interesting to hear from other members who may have first hand experience with this thing. Partiicuarlly is why an employer would offer to do such a thing (if other than for the non-t...
by cherijoh
Sat Aug 06, 2016 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: unexpected accelerated retirement (next week), checklist?
Replies: 25
Views: 2401

Re: unexpected accelerated retirement (next week), checklist?

Hi, I had expected to retire Q1 of next year, learned that my last date with my company will be in about 2 weeks. I'm trying to think through the immediate things I need to do to prepare for separation from my company and retirement. Once I have a handle on that, I'll move to short, med and long-te...
by cherijoh
Sat Aug 06, 2016 4:17 pm
Forum: Investing - Theory, News & General
Topic: how is a rental added to assest allocation in morning star porfolio??
Replies: 2
Views: 164

Re: how is a rental added to assest allocation in morning star porfolio??

Your paid for rental is part of your net worth, but NOT your asset allocation. IMO only liquid assets should be included in your AA. the whole point of the Morningstar portfolio analyzer is to track portfolio value, risk, determine if you are over or underweighted in certain asset classes, etc. Tryi...
by cherijoh
Sat Aug 06, 2016 1:15 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey over simplifying Roth vs. Traditional IRA?
Replies: 52
Views: 4718

Re: Dave Ramsey over simplifying Roth vs. Traditional IRA?

[ Read my post again. I had the person who invested in traditional put the "tax money" gone for the Roth IRA person in a taxable account. So yes pre-tax the amounts were greater in the traditional side, but because they had to pay taxes the post-tax money was lower on the traditional side...
by cherijoh
Sat Aug 06, 2016 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited half a house - how best to proceed?
Replies: 19
Views: 1941

Re: Inherited half a house - how best to proceed?

Yes, don't forget the fees. My sister and I are going through this now. Our parents left the house to us and she is buying me out, so it will be all hers. I/we agreed to take the appraisal amount, deduct 10% off that as if we sold it together now, and then split what's left. That seemed fair to me....
by cherijoh
Sat Aug 06, 2016 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Inherited half a house - how best to proceed?
Replies: 19
Views: 1941

Re: Inherited half a house - how best to proceed?

Why are you paying half appraised value without a discount? Houses generally sell for below appraised value and because you are purchasing it the other party saves on realtor and other fees. Very likely because the OP has a personal relationship with the person who currently owns the other half of ...

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