Search found 81 matches

by omega
Wed May 16, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Term life-is this reasonable price?
Replies: 10
Views: 963

Re: Term life-is this reasonable price?

Thank you all. My age is 42(male) and the medical condition was one time episode which was 5 years back and no issues after that. My health is overall good otherwise. I was never denied by any insurance companies. But getting higher amount because of one episode. This rate is after underwritten. Few...
by omega
Tue May 15, 2018 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Term life-is this reasonable price?
Replies: 10
Views: 963

Term life-is this reasonable price?

I have been searching for term life insurance for quiet sometime. I don't qualify for exceptional rate because of medical reasons. Recently, I got a quote for 135 USD/month with AIG (standard non-tobacco) for 20 years for 1 million. Is this acceptable price?

Thanks for your inputs!
by omega
Tue May 01, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: NJ tax filing question
Replies: 5
Views: 340

Re: NJ tax filing question

Yes. The account information provided is correct. I am unable to reach the state due to high volume of call. Not sure what I can do now. Can go to regional tax office?
by omega
Tue May 01, 2018 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: NJ tax filing question
Replies: 5
Views: 340

Re: NJ tax filing question

I opted for automatic payment from my bank.
by omega
Tue May 01, 2018 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: NJ tax filing question
Replies: 5
Views: 340

NJ tax filing question

I have filled tax return to NJ on April 12, 2018 through a local tax service and received a confirmation for filing. As of today, money was not taken from my account that I owe the state. Do I need to worry? Should I wait or send a check? Thanks.
by omega
Tue Apr 03, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 2120

Re: 8606 form - am I filling it correctly?

Thank you Fivek and retiredjg, The Excel is very helpful. This is what I got. Does this look good? I am using a tax man, who uses a software to do this. But he is getting it wrong, even I could tell that. I am not going back to him again. Form 8606 Line 1 Nondeduct. Contrib..........5500 2 tIRA basi...
by omega
Mon Apr 02, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 2120

Re: 8606 form - am I filling it correctly?

No. Apparently you also made a non-deductible contribution to Roth IRA for the year 2017 2016, but you do not mention having a Form 8606 for that contribution. Do you have one? You have reported you converted $11k but you are only showing $5,500 in in non-deductible contributions. That would mean t...
by omega
Mon Apr 02, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 2120

8606 form - am I filling it correctly?

I searched the forum, but want to double check with my filing. I contributed to t-IRA (non-deductible) USD 5500 in the year 2017 and converted USD 11000 (for the years 2016 and 2017) in the year 2017. Now, I am filling the form 8606 as follows. Is this correct? Line 1: 5500 Line 3: 5500 Line 14: 550...
by omega
Wed Feb 28, 2018 8:17 pm
Forum: Personal Consumer Issues
Topic: Office conflict - How to deal?
Replies: 7
Views: 822

Office conflict - How to deal?

Here is the situation. My coworker is having a tough time with our boss (both are equally at fault) and he is looking for opportunities to move as their relationship is beyond redemption at this point. Other members have some issues with the boss as well. But he has been good to others in the group ...
by omega
Mon Dec 18, 2017 9:15 am
Forum: Investing - Help with Personal Investments
Topic: New taxable account - ETF?
Replies: 1
Views: 288

New taxable account - ETF?

Hello all, I never invested in taxable account before and am planning to do so in 2018. I was reading the forum and online to understand the difference between mutual funds and ETFs. I think I understand the basic difference between the two (ETF is nothing but index but trades as stock and has low c...
by omega
Fri Dec 15, 2017 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: Assest allocation - inputs please
Replies: 11
Views: 881

Re: Assest allocation - inputs please

Thank you ruralavalon!
by omega
Fri Dec 15, 2017 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Assest allocation - inputs please
Replies: 11
Views: 881

Re: Assest allocation - inputs please

Thanks mhc, Engcap1 and ruralavalon. Ruralavalon, the calculation includes the following to arrive 70% stock. Previous rollover money: Van Ext Mkt Idx Adm (VEXAX with ER of 0.08%) - 13K Van Inst Index (VINIX with ER of 0.035%) - 33K Roth funds (25K): Fidelity Total Intl Index (FTIPX with ER of 0.1%)...
by omega
Fri Dec 15, 2017 10:07 am
Forum: Investing - Help with Personal Investments
Topic: Assest allocation - inputs please
Replies: 11
Views: 881

Assest allocation - inputs please

Hi all: I have about 143K in retirement account. I have placed the funds as follows, targeting about 70% stocks and 30% bonds in general. 401K funds (117K): Previous rollover money: Van Ext Mkt Idx Adm (VEXAX with ER of 0.08%) - 13K Van Inst Index (VINIX with ER of 0.035%) - 33K Van Tot Bd Mkt Adm (...
by omega
Tue Dec 05, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: backdoor Roth-2018 question
Replies: 5
Views: 1457

Re: backdoor Roth-2018 question

Thank you John, Compound, and ivk5 for your inputs. This is what I did this year. In March 2017, I made 5500 USD to tIRA for the year 2016 and converted that to Roth after few days. I was not aware that I cannot have any money in Rollover IRA and realized the mistake in few days and moved the money ...
by omega
Mon Dec 04, 2017 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: backdoor Roth-2018 question
Replies: 5
Views: 1457

backdoor Roth-2018 question

Hello all:

I did backdoor Roth for first time this year for 2016. Am I allowed to do backdoor for 2017 before December and should I wait for 2018 to do this?

Thank you!
by omega
Thu Nov 16, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth and $0.01 question
Replies: 6
Views: 811

Backdoor Roth and $0.01 question

First time this year I did backdoor Roth (this was for last year). I deposited 5500$ in tIRA and in two days later I did the Roth conversion (5500$). I filed 8606 form after filing tax. After conversion, 0.01$ was left in the account. Will this be an issue for future backdoor Roth conversion?

Thanks!
by omega
Sat Oct 28, 2017 6:02 pm
Forum: Personal Consumer Issues
Topic: bedroom color-current trend?
Replies: 55
Views: 3770

Re: bedroom color-current trend?

Wow..so many replies..thank you all for your inputs. More info..we just bought this house..had no intention of painting..but could not find a color match for the patch up work left unpainted by the seller..so started the painting project... Right now, the house has various sheds of tan/beige in diff...
by omega
Fri Oct 27, 2017 9:53 am
Forum: Personal Consumer Issues
Topic: bedroom color-current trend?
Replies: 55
Views: 3770

bedroom color-current trend?

Hi all,

Just curious to see what color folks are using nowadays for interior wall, especially bedrooms. I understand color is a personal choice, but wants to see what out there. I was told gray is the current trend. Also, do you prefer any specific brand of paint over other?

Thanks
by omega
Fri Sep 22, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance - Your inputs please!
Replies: 9
Views: 834

Life insurance - Your inputs please!

Here is my situation. Am in early 40s with two kids (10 and 5). Currently have life insurance about 4X of my salary through my employer. I shopped around for term life insurance for 20 years for 1 million. The issue is that I had a medical condition 5 years back. Although I am currently free of this...
by omega
Wed Sep 20, 2017 2:08 pm
Forum: Personal Consumer Issues
Topic: should we replace the subfloors when putting in hardwood floors
Replies: 9
Views: 1088

Re: should we replace the subfloors when putting in hardwood floors

What I mean by flaky is - kind of bouncy. If a heavy person jumps, I feel the floor vibrates.
by omega
Wed Sep 20, 2017 12:28 pm
Forum: Personal Consumer Issues
Topic: should we replace the subfloors when putting in hardwood floors
Replies: 9
Views: 1088

Re: should we replace the subfloors when putting in hardwood floors

The subfloors are plywood and not particle board. Will that mean that a re-screw will fix the bounciness/flaky/creaking issues
by omega
Wed Sep 20, 2017 11:45 am
Forum: Personal Consumer Issues
Topic: should we replace the subfloors when putting in hardwood floors
Replies: 9
Views: 1088

Re: should we replace the subfloors when putting in hardwood floors

Seems like if the edges are pressing up against each other, that needs to be fixed as it will create an unlevel surface. However, it also seems that it could be fixed without ripping out the current subfloor if there are only a few problematic areas. Wood expands and contracts, even plywood, so the...
by omega
Wed Sep 20, 2017 10:51 am
Forum: Personal Consumer Issues
Topic: should we replace the subfloors when putting in hardwood floors
Replies: 9
Views: 1088

should we replace the subfloors when putting in hardwood floors

We recently bought a 1950s built home and there are four bedrooms and a hallway in the second floor that has old carpet that we want to replace with hardwood. When I walk on the floor, I hear creaking sound and also feel like the floor is bouncy/flaky. A very heave flooring company guy bounced on th...
by omega
Sun Sep 17, 2017 6:28 pm
Forum: Personal Consumer Issues
Topic: brand of solid wood floor-Help!
Replies: 9
Views: 1140

Re: brand of solid wood floor-Help!

Thanks all. Yes. We are looking for prefinished red oak for our 4 bedrooms in the second floor. The company that quotes Mercier is expensive (9.5K) and the cost of company offering Armstrong is about 7K. Is it worth spending 2.5k more for the brand? In other words, does brand matters? Where can I fi...
by omega
Sun Sep 17, 2017 11:24 am
Forum: Personal Consumer Issues
Topic: brand of solid wood floor-Help!
Replies: 9
Views: 1140

brand of solid wood floor-Help!

Hello all: We are looking to replace carpet with solid wood floor on the second floor of newly purchased house (built in 1950s). we are focusing on red oak, but not sure about the brand. The quote ranges from 6K-10K for 750 Sq ft including carpet removal, material cost and installation. It seems the...
by omega
Wed Aug 16, 2017 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Help with mortgage rates-closing soon!
Replies: 11
Views: 1240

Re: Help with mortgage rates-closing soon!

Re-negotiate? Umm, no, you don't get to renegotiate your rate unless market rates come down below your 3.75% quoted. What gives you the impression you can have your rate lowered if the market is at or above your current rate that is locked in? What is the exact type of mortgage you signed up for? T...
by omega
Wed Aug 16, 2017 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Help with mortgage rates-closing soon!
Replies: 11
Views: 1240

Help with mortgage rates-closing soon!

Hi all, We are closing our first house on Sep 1 and are currently locked in at 3.75% for 30 year fixed with APR 3.841%. We negotiated with our lender to adjust to low rate once before closing without incurring any additional cost. I looked at bank rate and mortgagerate news and other sites on google...
by omega
Mon Aug 14, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Home insurance- Providence mutual
Replies: 0
Views: 320

Home insurance- Providence mutual

Hi all, We are in the process of closing our first home and are shopping around for home insurance. We got a quote from "Providence Mutual", which not only gives a better rate (885 USD per year), but also offers a better coverage in terms of personal liability (500K) and deductible (500 USD). We cur...
by omega
Sun Aug 13, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Please help, Public school(Move) or Private school(Stay-put) ?
Replies: 16
Views: 2101

Re: Please help, Public school(Move) or Private school(Stay-put) ?

You may also want to consider Bergen county (Fair Lawn, Ridgewood, Glen Rock etc). The commute to NYC is about 45 min to 1 hr by bus or train and the schools are very good in these areas.
by omega
Fri Aug 04, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: help with the appraisal process
Replies: 21
Views: 1747

Re: help with the appraisal process

IMO, you should have posted... The appraisal came in higher, so, YAY, we get to buy our first home without hiccups! :sharebeer That hope for negotiation could have gone badly and been a headache, so be glad it's not a worry. Lol..we were just worried about overpaying!..our realtor put the onus on a...
by omega
Fri Aug 04, 2017 10:27 am
Forum: Personal Finance (Not Investing)
Topic: help with the appraisal process
Replies: 21
Views: 1747

Re: help with the appraisal process

Update. The appraisal came 5K more than offered price. No room for price negotiation as we expected :( Thank you all for your comments.
by omega
Sun Jul 30, 2017 7:49 am
Forum: Personal Finance (Not Investing)
Topic: help with the appraisal process
Replies: 21
Views: 1747

Re: help with the appraisal process

Thanks everyone. It looks like we just have to wait and go through the process. Not having much hope on the process at this time though :(
by omega
Fri Jul 28, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: help with the appraisal process
Replies: 21
Views: 1747

Re: help with the appraisal process

Chevca, we are not hoping for any outcome but just want a fair process to know how much will the house appraise to without any external influences. What we will do with that information if the house doesn't appraise to our agreed upon price - we will cross that bridge when it comes. Does anyone know...
by omega
Fri Jul 28, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: help with the appraisal process
Replies: 21
Views: 1747

help with the appraisal process

We are in the process of buying our first home in NJ and have agreed to a sale price that is 30K above the asking price. If the appraisal comes 10K below the sale price, we have a window to negotiate the price with the seller. We found out that the seller's realtor, the seller and our realtor will b...
by omega
Tue Jul 25, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Did you shop for a title company
Replies: 4
Views: 646

Did you shop for a title company

We are in the process of closing our first home and wanted to know if others shop around for the title company. Our attorney has given the name for a title company and our realtor says that the title companies charge the same since these costs are federally regulated. We are wondering if we should j...
by omega
Wed Jul 12, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Borrower-Paid vs. Lender-Paid Compensation
Replies: 3
Views: 432

Borrower-Paid vs. Lender-Paid Compensation

I am in the process of buying first home. Which one you would choose - Borrower-Paid vs. Lender-Paid Compensation? Which is best for me in case of 30 year loan?

Thanks
by omega
Tue Jul 11, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage contingency vs Appraisal contingency
Replies: 9
Views: 1253

Re: Mortgage contingency vs Appraisal contingency

Thanks all. The seller agreed for appraisal contingency with an exception of 10K difference between appraisal and offer price. The negotiation will occur only when the difference is more than 10K and we agreed to that.
by omega
Tue Jul 11, 2017 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage contingency vs Appraisal contingency
Replies: 9
Views: 1253

Re: Mortgage contingency vs Appraisal contingency

Thanks for your comments. How close is Zillow estimate to appraisal value? Per zillow, the house is listed as 609K. Good houses in this area are selling above asking prices. The market is so hot that sellers are having a good sales.
by omega
Mon Jul 10, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage contingency vs Appraisal contingency
Replies: 9
Views: 1253

Mortgage contingency vs Appraisal contingency

First time home buyer here, currently in attorney review. The agreed price is 630K with 30% downpayment. The seller wants to have only mortgage contingency in the contract and wants to delete appraisal contingency. Can someone explain why this bad for me? I am not familiar with jargons. I have no do...
by omega
Sun Jul 09, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Re: Buying a house in FEMA flood zone X

Thanks 986racer. I will keep it mind when reviewing the policy. Thanks stan1 for your comments. I fail to see the house from that angle earlier. The brook in fact offers appeal to the house with lots of trees and one less neighbor. And location of the house is great. From these points, we felt comfo...
by omega
Sun Jul 09, 2017 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Re: Buying a house in FEMA flood zone X

Yes. I will get insurance just to be sure as suggested by many of you.

Thanks!
by omega
Sat Jul 08, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Re: Buying a house in FEMA flood zone X

Thanks all. I spoke with a neighbor and a friend who lives few houses down. They never seen any flooding situation in last 12 years. It seems all the houses in that area comes under flood X zone even though map does not show it. They told me it is not all an issue. so, we have decided to pursue the ...
by omega
Sat Jul 08, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Re: Buying a house in FEMA flood zone X

Thanks again. The certificate shared by the listing agent says "The subject property IS PARTIALLY WITHIN a Special Flood Hazard Area. The existing STRUCTURE, however, is not affected and is not in the floodplain" I am waiting to hear the cost of insurance in flood zone X500. It appears to be a very ...
by omega
Sat Jul 08, 2017 5:19 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Re: Buying a house in FEMA flood zone X

Thank you all. A little more detail. The house is located next to a brook and flood zone X (shaded) cuts through a front corner of the property including the one-third of the house. The house has no basement and the owner has experienced no flooding situation since 1994 (he bought in 1994) and I hav...
by omega
Fri Jul 07, 2017 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in FEMA flood zone X
Replies: 30
Views: 4555

Buying a house in FEMA flood zone X

Dear all: We put in an offer for a house in NJ and was accepted by the owner. Today, I found out that the house is in FEMA flood zone X and as per my real estate agent we don't need flood insurance. The house is in great condition and it fits all our needs. We are concerned about the flood zone X. S...
by omega
Sat May 13, 2017 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Roth457-is it worth in our case?
Replies: 10
Views: 998

Re: Roth457-is it worth in our case?

Great. Thank you all.
by omega
Sat May 13, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Roth457-is it worth in our case?
Replies: 10
Views: 998

Re: Roth457-is it worth in our case?

Thanks ruralavalon. we live in NJ and it does tax on 457 contributions. Thats true. We don't know where we will retire.
by omega
Sat May 13, 2017 1:18 pm
Forum: Investing - Help with Personal Investments
Topic: Roth457-is it worth in our case?
Replies: 10
Views: 998

Re: Roth457-is it worth in our case?

Thanks for the link.

My concern is that we have to pay state tax either way. Will this money in 457 will be double taxed (now and during withdrawal)?
by omega
Sat May 13, 2017 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Roth457-is it worth in our case?
Replies: 10
Views: 998

Re: Roth457-is it worth in our case?

BL wrote:You will probably be in a lower bracket when you retire, so take the tax deduction now.
Thanks BL. How can I determine that I will be in lower bracket?
by omega
Sat May 13, 2017 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: Roth457-is it worth in our case?
Replies: 10
Views: 998

Re: Roth457-is it worth in our case?

"Will either or both of you be eligible for a substantial pension?"

The answer is no. Thanks.