Search found 3771 matches

by cherijoh
Wed Jun 28, 2017 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Middle age job blues
Replies: 86
Views: 7570

Re: Middle age job blues

> What does being white have to do with any of this? Nothing apart from the fact that a great number of those studying IT-related things are from China or India. Anyway- there are some IT jobs (admittedly not high-paying) where reliable older employees are just fine. If your assets make you comfort...
by cherijoh
Tue Jun 27, 2017 10:55 am
Forum: Personal Consumer Issues
Topic: Two days in Vancouver - Suggestion...
Replies: 20
Views: 1032

Re: Two days in Vancouver - Suggestion...

OP's stay will be too short, but for anyone with a longer stay in Vancouver I would recommend taking the ferry over to Vancouver Island. The BC museum is great - I especially enjoyed the entire floor dedicated to the First Peoples (Canada's term for Native Americans). I also really enjoyed Butchart ...
by cherijoh
Tue Jun 27, 2017 10:35 am
Forum: Personal Consumer Issues
Topic: Stop saving and start spending
Replies: 63
Views: 7447

Re: Stop saving and start spending

I would like some advice on whether we still need to save every year or can start sending most of our disposable income. I am 43 and my wife is 39, and we have kids aged 12 and 9. We are fortunate to have an annual income of $400K. Our house is paid off and it is worth $1.2M. We have $1M in investe...
by cherijoh
Sun Jun 18, 2017 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16337

Re: Siblings in disagreement over mom's house.

It's not like his siblings don't understand what they're doing. They're not ignorant. They have just decided that they deserve to have their way more than the OP deserves his inheritance. The damage to family relationships is done. I agree. There is often some weird dynamics with larger families. S...
by cherijoh
Sun Jun 18, 2017 10:14 am
Forum: Investing - Theory, News & General
Topic: Best Financial Advice from Dad (in honor of father's day)
Replies: 79
Views: 4849

Re: Best Financial Advice from Dad (in honor of father's day)

My dad wasn't financially sophisticated - when he retired he asked me for investing advice. :happy But he modeled good Boglehead behavior. Both my parents grew up during the Great Depression and believed in living within your means. Dad was a proficient gardener and my mom canned the produce he grew...
by cherijoh
Sat Jun 17, 2017 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16337

Re: Siblings in disagreement over mom's house.

Sorry for the situation you find yourself in. It sounds like those that want to sell have a high level goal and plan. You might want to flesh that out in writing to describe how to get from here to there including potential distribution shares from the sale and a rough timeline. I would ask that th...
by cherijoh
Sat Jun 17, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion and IRS trying to tax it
Replies: 7
Views: 667

Re: Backdoor Roth Conversion and IRS trying to tax it

Anyone know what supporting information to use to support that there are no taxes on a backdoor Roth conversion? Am i right int that the conversion should not have triggered any taxes since it was 5500 into the IRA and then converted to Roth so there are no gains to tax? The supporting information ...
by cherijoh
Sat Jun 17, 2017 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Forced to Convert 401k to IRA?
Replies: 17
Views: 1179

Re: Forced to Convert 401k to IRA?

I am 60, and retired at 58 from a large corporation, where I worked for 32 years. I have a substantial 401k, and am contemplating starting to withdraw from it in the next year or two. The 401k is managed by Vanguard. I called Vanguard, and they said that in order to begin withdrawing, I'd have to c...
by cherijoh
Thu Jun 15, 2017 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth moving for a better public high school?
Replies: 32
Views: 2128

Re: Is it worth moving for a better public high school?

We are a family of 4 (one middle school-er and one in elementary). We currently live in a house that we bought brand new around 10 years ago. With the current payments we're scheduled to be mortgage free in the next 10 years (at most). The high school we're zoned in to is ranked in the 700s by US N...
by cherijoh
Thu Jun 15, 2017 5:17 am
Forum: Personal Consumer Issues
Topic: Cooktop died, not repairable, need recommendations
Replies: 36
Views: 1838

Re: Cooktop died, not repairable, need recommendations

I cannot live with an electric range. I have a single burner outside the house connected to a propane tank and a stove capable of 40,000 BTUs or something. When on full blast, it sounds like a dragon breathing fire. Quickly boils water or cooks veggies. We have gas heat Our winter heating bills are...
by cherijoh
Tue Jun 13, 2017 9:45 pm
Forum: Investing - Theory, News & General
Topic: Got a Question for the Experts Panel at the Bogleheads Conference?
Replies: 19
Views: 2189

Re: Got a Question for the Experts Panel at the Bogleheads Conference?

I'd love to hear any of the experts opinions on AA by tax treatment of the account (taxable, traditional retirement, Roth) and what makes sense as you approach retirement. I'm still working but plan to retire within next 2 years. I have been reducing my overall stock allocation, but to date all my b...
by cherijoh
Sun Jun 11, 2017 7:34 am
Forum: Investing - Help with Personal Investments
Topic: Capital gains in decedent trust after step-up
Replies: 7
Views: 509

Re: Capital gains in decedent trust after step-up

I'm the trustee and beneficiary of a trust, the owner of which is recently deceased. I had the stocks in the trust stepped-up in cost basis as of the date of death of the owner. About a month after that, the stocks were liquidated and the proceeds distributed to the beneficiaries. In the intervenin...
by cherijoh
Sat Jun 10, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4135

Re: Is there a calculator that solves for optimal Roth conversion

:shock: Well, I-ORP is probably the most sophisticated tool in this respect, so you answered your own question. Personally, I found it rather nebulous and non-intuitive, and ended up developing my own spreadsheet, tuned to my own circumstances. This helped me fully understand the ins and outs, but t...
by cherijoh
Sat Jun 10, 2017 8:29 am
Forum: Investing - Help with Personal Investments
Topic: Converting a Windfall to Tax Advantaged Accounts
Replies: 25
Views: 1885

Re: Converting a Windfall to Tax Advantaged Accounts

I guess I'll cheer for that big 50% correction! Still, I like the way you described it as a goal of transferring shares from one account to another. My wife has been a little skeptical of the risk/reward; this might be an effective way to re-frame the debate. Thanks and good luck on your similar si...
by cherijoh
Mon Jun 05, 2017 7:33 am
Forum: Personal Consumer Issues
Topic: Flying first class, business, versus economy.
Replies: 105
Views: 6850

Re: Flying first class, business, versus economy.

need to use economy plus next time bigger seats and more leg room small cost to upgrade I flew economy plus to Italy and it made a big difference in comfort - it is basically what economy used to be years ago. (Although I'm not sure the seats were actually bigger - just a lot more leg room). I like...
by cherijoh
Mon Jun 05, 2017 7:07 am
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 90
Views: 7776

Re: Worth it to buy expensive clothes?

I haven't really bought new work clothes in the last 8 years, and I've been thinking about completely overhauling my wardrobe. All of my dress shirts and pants have way too much fabric, and look baggy in general. My SO affectionately commented that I dress like I'm wearing a potato sack. I've picke...
by cherijoh
Sun Jun 04, 2017 8:46 am
Forum: Investing - Help with Personal Investments
Topic: WHAT!? Us! Double comma! Can I pull back?
Replies: 27
Views: 3926

Re: WHAT!? Us! Double comma! Can I pull back?

Another thing to keep in mind is that pensions are becoming as rare as the dodo bird. ERISA protects your accrued benefits but it doesn't cover projected future benefits. Defined benefit plans gain most of their value in the last 10 years or so before retirement since they usually involve a fixed p...
by cherijoh
Sat Jun 03, 2017 6:53 pm
Forum: Investing - Help with Personal Investments
Topic: WHAT!? Us! Double comma! Can I pull back?
Replies: 27
Views: 3926

Re: WHAT!? Us! Double comma! Can I pull back?

This will surely cause a firestorm of discussion, but I don't think it is wise to use your home equity in your analysis. It isn't like you are going to sell and know exactly the amount of profit. Even if you did then you would have to apply some of that money back into renting a place for the rest ...
by cherijoh
Sat Jun 03, 2017 7:08 am
Forum: Investing - Help with Personal Investments
Topic: Can I Safely Retire?
Replies: 56
Views: 5911

Re: Can I Safely Retire?

Take another Lawyer job in another state with half the stress and less pay. So what, you get to continue to work pay off you debt and increase your savings. Who knows maybe you will like the new job. Do this for another 10 years and you can retire and live well. They say your best income is your jo...
by cherijoh
Sat Jun 03, 2017 6:57 am
Forum: Investing - Help with Personal Investments
Topic: Can I Safely Retire?
Replies: 56
Views: 5911

Re: Can I Safely Retire?

Whatever you do, you have enough that you dont need to go day in and day out working in a job you hate. In other words, you can choose to switch jobs, switch states, or switch careers. You dont have to do it tomorrow though, so set some financial milestones or goals over the next year or two to get...
by cherijoh
Sat Jun 03, 2017 5:42 am
Forum: Investing - Help with Personal Investments
Topic: Can I Safely Retire?
Replies: 56
Views: 5911

Re: Can I Safely Retire?

knpstr wrote:I could live a comfortable life here in MI if I were single and debt free on $15,000/yr. You could pay for all basic living expenses and have a few thousand extra each year for fun purchases.


Does that $15K/year that you could get by with in MI include rent?
by cherijoh
Sat Jun 03, 2017 5:32 am
Forum: Investing - Help with Personal Investments
Topic: Is there a way on earth to reduce SS taxes?
Replies: 54
Views: 4530

Re: Is there a way on earth to reduce SS taxes?

Geologist wrote:The easiest way to reduce all taxes is to have no income period. This has other undesirable consequences.

Your aim should be maximizing after-tax income; that is not the same thing as minimizing taxes.


+1
by cherijoh
Wed May 31, 2017 6:37 am
Forum: Personal Finance (Not Investing)
Topic: i am my own "guy," but not sure I should advertise that
Replies: 107
Views: 13636

Re: i am my own "guy," but not sure I should advertise that

I had a mildly shocking experience in this regard a couple weeks ago. A few of us at work were having a casual chat moment. A gentleman I work with, in his early 60s and fairly high ranking in the org, mentioned that he's not at all familiar with the funds offered in our version of a 401K. He said ...
by cherijoh
Tue May 30, 2017 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Should I move or not?
Replies: 7
Views: 923

Re: Should I move or not?

The current city I live in within NY is going through a spike in real estate. Houses are going for asking prices and sometimes even a bidding war. I have the opportunity to move into a 2 bedroom apartment owned by my family for the all in price of $1425 a month. This is as we continue to save for o...
by cherijoh
Mon May 29, 2017 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Not Another Payoff The Mortgage Thread....
Replies: 38
Views: 4022

Re: Not Another Payoff The Mortgage Thread....

You have another option, since its a sellers market it may be a good time to sell your house and buy something smaller with the cash you have from the sale, perhaps within walking distance of work if you aren't already. Why would you suggest the OP - who posted that he hopes to grow his family in t...
by cherijoh
Mon May 29, 2017 8:02 am
Forum: Personal Consumer Issues
Topic: Retiring in southern college town
Replies: 78
Views: 5636

Re: Retiring in southern college town

Lived in both Chapel Hill and Charleston SC. Of course if the beach is a priority, Charleston is right there, Isle of Palms, Sullivan Island and Folly Beach. Cost of living is lower in Charleston than Chapel Hill. Both have university hospitals. Education available in both (more choices in CH/Durha...
by cherijoh
Sun May 28, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Not Another Payoff The Mortgage Thread....
Replies: 38
Views: 4022

Re: Not Another Payoff The Mortgage Thread....

I know that the question has been asked many times and the answer is that it's usually a matter of preference. Personally, I have made such a decision already, but I am starting to question it now. Perhaps some of you can provide some feedback and unbiased thought to help me sort through my confusi...
by cherijoh
Sun May 28, 2017 3:42 pm
Forum: Personal Consumer Issues
Topic: Retiring in southern college town
Replies: 78
Views: 5636

Re: Retiring in southern college town

I'm not sure how many places in these areas qualify as both "coastal" and "college town", but there may be a handful. Anyhow, I retired to the South Carolina coast from a bastion of liberalism (NJ) and have found the people to be wonderful. Just be aware, it is HOT from May to S...
by cherijoh
Sun May 28, 2017 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 7147

Re: Meeting with retirement guru, specializes in federal govt employees

Depending on your age I would ask a few targeted questions about the FERS supplement that is currently on the chopping block. Specifically, I would ask whether that benefit "vests" upon retirement or whether it can still be taken away from you if you've already retired. The answer to that...
by cherijoh
Sun May 28, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 7147

Re: Meeting with retirement guru, specializes in federal govt employees

It sounds like this guy is the real deal and he could inform you about things you had not ever considered. There are limits to trying to do this all yourself as there are some irrevocable decisions that must be made. I will caution you that near retirees with substantial retirement plan balances ha...
by cherijoh
Sat May 27, 2017 8:08 am
Forum: Investing - Help with Personal Investments
Topic: New to the forum and retiring this fall
Replies: 55
Views: 5456

Re: New to the forum and retiring this fall

Hi all, here's an update: Mortgage: 3.125 APR, 238,000 remains, pmt is 1690/mo but we pay 1800. Can pay more. It looks like you still have a way to go on that mortgage. If you continue paying it off at the current rate when will the mortgage be paid off? Had it been your intention to stay in this h...
by cherijoh
Sat May 27, 2017 7:18 am
Forum: Investing - Help with Personal Investments
Topic: Avoiding Taxes with RMD
Replies: 59
Views: 6714

Re: Avoiding Taxes with RMD

First RMD on $1.2M (assuming you turn 70.5 and 71 in the same year) is about $45.5K. With SS benefits of $40K, you get beyond the SS tax hump once you have non-SS income above $48,700. If the $1M taxable account throws off distributions in the range of 2% to 3% every year, that's another $20K to $3...
by cherijoh
Sat May 27, 2017 6:58 am
Forum: Investing - Help with Personal Investments
Topic: Avoiding Taxes with RMD
Replies: 59
Views: 6714

Re: Avoiding Taxes with RMD

You must be young. Roths are relatively new for my age. I used them when they became available. Conversions were reviewed and made no sense while working. After retirement, they made no sense in years with other taxable events, like selling rental property. Roths are not advisable for a number of r...
by cherijoh
Fri May 26, 2017 6:50 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conversions Post Retirement
Replies: 19
Views: 1904

Re: Roth Conversions Post Retirement

Dottie57 wrote:One point which I think is important is taxation of SS. Roth $ don't cause taxation of SS whereas taxable dollars do.
Consider how different income streams impact taxation.


OP is going to be at the maximum SS taxation just from pension and annuities.
by cherijoh
Fri May 26, 2017 6:12 am
Forum: Investing - Help with Personal Investments
Topic: Avoiding Taxes with RMD
Replies: 59
Views: 6714

Re: Avoiding Taxes with RMD

In 2016 I had a calm tax year, owed no taxes and only used the itemized deductions thanks to some medical costs. I have lived off of money that was already taxed and a small pension, and delay social security until 70. By "owed no taxes" do you mean you paid zero income tax in 2016? If so...
by cherijoh
Tue May 23, 2017 5:42 am
Forum: Investing - Help with Personal Investments
Topic: To me this is the most significant investment lesson ever
Replies: 16
Views: 2952

Re: To me this is the most significant investment lesson ever

whodidntante wrote: Tortured numbers will confess to anything.


:D Love it!!!
by cherijoh
Sun May 21, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1528

Re: Use 529 Money Or Not?

I appreciate that point of view. I DO feel like I'd be paying twice by NOT using the 529 money. And I can always superfund a 529 for grandkids as they arrive, assuming I live the 5 years that superfunding requires (in order to not be clawed back into a deceased estate for estate taxation counting)....
by cherijoh
Sun May 21, 2017 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Lump Sum Vs. Annuity?
Replies: 13
Views: 1793

Re: Lump Sum Vs. Annuity?

Trying to make a decision re lump sum vs annuity. .... Thanks for any thoughts you may have. Here is a link to my all-time favorite Boglehead thread on Lump Sum vs. Annuity. Besides the number crunching aspects, I would suggest giving some serious thought to the behavioral aspects. Does your wife h...
by cherijoh
Sun May 21, 2017 9:37 am
Forum: Investing - Help with Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 114
Views: 14983

Re: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)

Depends if you are looking at SS as trying to get your money back, in which case early withdrawal is probably best, or if you are looking at it as a hedge against losing ground to inflation and having such a long life that your savings dwindle. +1 This is it in a nutshell. I am in the latter camp. ...
by cherijoh
Sun May 21, 2017 9:10 am
Forum: Investing - Help with Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 114
Views: 14983

Re: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)

Bernstein's example is very helpful, for both sides of the issue in fact. If you have $288,000 in real income to spend over the next 8 years, then do Twin A's plan. But that's a lot of income! If you don't have that much income, you may have to go with Twin B's plan. But note that means you will pe...
by cherijoh
Sat May 20, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Re-characterization of Roth contribution "opportunity" issue
Replies: 23
Views: 1682

Re: Re-characterization of Roth contribution "opportunity" issue

[OT comment removed by moderator prudent] Celia, as far as I can see the required 1099s would not prevent this transfer of custodian idea from working. The entire amount of the money market Roth could be re-characterized. I'm sure celia will be along shortly to show you in detail why what you sugge...
by cherijoh
Fri May 12, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Help me reduce my capital gain from a condo I just sold...
Replies: 29
Views: 2383

Re: Help me reduce my capital gain from a condo I just sold...

Also, please correct me if I'm wrong, but doesn't capital gains contribute to your Adjusted Gross Income? In other words if your income was $75,899 (assuming married filling jointly) and then you had $20k in capital gains this would bump you from the 15% to the 25% bracket and Capital Gains from 0%...
by cherijoh
Fri May 12, 2017 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can I open a spousal i401K just for a rollover?
Replies: 6
Views: 501

Re: Can I open a spousal i401K just for a rollover?

I am planning to open an i401K for my wife who is self-employed and roll her SEP-IRA into that, which will allow her to do a backdoor Roth, as well as increase her contribution amount for retirement. I would also like to move my IRA (rolled over from a previous 401K before I knew about backdoor Rot...
by cherijoh
Fri May 12, 2017 7:03 pm
Forum: Personal Consumer Issues
Topic: Beware Citibank Bonus Promotion
Replies: 38
Views: 5754

Re: Beware Citibank Bonus Promotion

Interesting coincedence. I was on the phone with Citibank earlier tonight because my statement did not show up in the mail and they said it was because i recently changed to paperless statements. I know for a fact that I did not.. Banks are using "Opt Out" campaigns for paperless now - th...
by cherijoh
Sun May 07, 2017 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Acceptable Success Rate to Retire using Firecalc
Replies: 41
Views: 3126

Re: Acceptable Success Rate to Retire using Firecalc

Taxes are an expense, so part of spending. Good to know. I know in my spreadsheets as well as Fidelity's tool you can utilize an assume tax rate. But that is almost always an issue in retirement when you might be withdrawing money from various sources at distinctly different tax rates: ⋅ ...
by cherijoh
Sun May 07, 2017 8:12 am
Forum: Investing - Help with Personal Investments
Topic: About to retire
Replies: 18
Views: 2938

Re: About to retire

I will be taking lump sum of 700,000 plus 401k of 520000. Ameriprise advisor wants me to split it between Ameriprise Ira and a variable riversource annuity from Ameriprise. I have been learning about vanguard. Would like to do this on my own but not confident enough. Also have 3000,000 in cash and ...
by cherijoh
Sun May 07, 2017 7:59 am
Forum: Investing - Help with Personal Investments
Topic: Acceptable Success Rate to Retire using Firecalc
Replies: 41
Views: 3126

Re: Acceptable Success Rate to Retire using Firecalc

I think it depends on how you define 'failure'. Case 1: you set your retirement expenses so low that 'failure' means the day after you run out of money you are homeless, subsisting by foraging dandelions in the park and dumpster diving. I want the chances of that to be very, very low. Case 2: you s...
by cherijoh
Sun May 07, 2017 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Delayed Mega Backdoor Roth
Replies: 11
Views: 1416

Re: Delayed Mega Backdoor Roth

I don't have a TIRA and would like to keep it that way for regular backdoor purposes. I don't see any clauses for IRRs so that's probably not an option. I am aware that leaving the company would allow a Mega Backdoor opportunity but I have no plan for that now. It was the in-service withdrawals tha...
by cherijoh
Sun May 07, 2017 7:25 am
Forum: Personal Finance (Not Investing)
Topic: How to get out of a apartment renter lease? They want $3,600
Replies: 40
Views: 3220

Re: How to get out of a apartment renter lease? They want $3,600

Again, jurisdiction specific. This is not the case in all jurisdictions. It may well be in yours. But it's a reminder that you have to be careful looking for nationwide advice on an issue governed by local law. +1 Depending on the jurisdiction the law can strongly favor the landlord, strongly favor...
by cherijoh
Sat May 06, 2017 9:07 am
Forum: Investing - Theory, News & General
Topic: Tips From Older Bogleheads?
Replies: 52
Views: 4593

Re: Tips From Older Bogleheads?

Hello Bogleheads! For those of you that are older and more experienced. What are some things you have learned from investing over the years? What are some tips for young investors that have only experienced a bull market? Anything from the past that you wish you paid closer attention to? Thank you ...

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