Bogleheads.org

When I looked into these numbers a few months back, it follow's HUD's definition of income and poverty guidelines. So the income is truly gross and not AGI. I am a California resident and I found this CA document quite helpful! https://www.hcd.ca.gov/docs/grants-and-funding/inc2k22.pdf It explain how HUD defines as a median and low income for a region. What are the factors used for change in number of household. For ex, HUD uses 90% of 4 household median as median income for a household of size 3. Although the above document uses county medians, you can use city/zip median's which is on HUD's website for 2022 data. One data point of interest, a lot of federal programs use 50%, 80%, 100% and 120% median income in several calculations but no...

If TSP participants want to save any of their documents (annual statements, etc), they have to do so before the transition to the new interface in mid-May.

I’m just wondering if this is potentially a big deal for some folks. Is there any particular reason to save your own copies of statements and other documents??

I’ve personally downloaded what I want, but curious if this could bite any any coworkers down the line… TSP says you can call them in the future to request the old documents so this is probably not a big issue but could be an inconvenience at least

I’d do a target date for everything (except taxable brokerage) until you have inclination and time to look at your whole portfolio together to compare the funds and decide better if you want to strategically place different asset classes in different account types. Don’t but target date funds in brokerage account (risk of unexpected and significant tax gains and bonds in taxable not as good). You mentioned a large salary increase and that you contribute to a traditional IRA . The tax deductibility of a traditional IRA contribution for single filer has a phase out at $68-$78k, while a Roth IRA has a phase out around $125-140k. A back door Roth is an option at higher incomes, but the existing IRAs might need to be dealt with somehow (Roth con...

Target date funds aren’t ideal for a taxable brokerage account. You probably just want to hold the component parts separately, and your mom may want to balance stocks vs bonds across all accounts including tax deferred retirement accounts. Regarding the later point, i think generally people on these boards would suggest for her to increase the amount of bond holdings in her retirement account so as not to earn too much additional income from the taxable brokerage account due to bond funds. It should all be described on on this sites wiki. When helping my mom with a similar (much more modest) situation, she decided to use Vanguard’s Tax Managed Balanced Fund… not ideal (in part because there are no opportunities for tax loss harvesting), but...

Would definitely act if any adult is a current or former smoker or if kids in house.

trueblueky wrote: ↑Thu Aug 01, 2019 4:05 pm
Look at your payslip and understand each item.

---

If you wear contacts or have glasses, the vision insurance is good -- we have had vision centers say it is the best.

+1 on regularly reviewing paystubs and understanding all items. I've had to officially dispute some error to get money back.

Re vision plans: my HDHP (GEHA) has some okay vision coverage (and limited preventive dental). Nonetheless, every other year I enroll in a vision plan.

Check out the health FSA (or an HSA if you opt for a high deductible health plan -HDHP). Also check out the Dependent Care FSA if you have kid. Personally, I think the Dependent Care FSA is very easy to spend the full amount, while the health FSA is a bit annoying because you can only carry over 500 in unspent money each year. The HSA and HDHP has been good for me but YMMV (the HSA money can be saved and invested and has multiple unique tax benefits).

I waived the basic life insurance bc I qualified for a cheaper term life policy which means I don't lose coverage if I seek a different job.

And I like the public transit benefit (Go Card!).

I buy international, in part, because of currency risk. Living internationally and traveling a lot are important for us as options during retirement, and if international outperforms (especially emerging) i want to be able to travel, etc. Not sure if this makes sense, but it's how i think.

Bem vindo! I have minimal experience with the process of moving money from Brazil to US (especially at these higher amounts), so take my comments with a grain of salt. Your Brazilian bank will probably help you with this, but you might need to document any current year income that was not included on your Brazilian income taxes for the prior fiscal year. I think this process may cause an unexpected delay if you are trying to transfer a lump sum (i.e. ask around your bank and complete this documentation of current year income before you want to transfer. I think it could take one month to complete, but I don't know). I don't have any advice about how to minimize your transfer fees from the Brazilian bank into the US bank, but I would be conc...

Life insurance and long-term care insurance could also be considered.

So my spouse's work-related travel was reimbursed by a 3rd party (not the employer...), and I'm trying to understand the tax implications and reporting requirements. My spouse works for a non-profit, and she received reimbursement ($3,650) from a drug company to attend an international conference and present results. She presented itemized receipts within 90 days, but I think the reimbursement must be included as income (other income) on our taxes, since it wasn't paid by the employer (using an accountable plan). So the tax hit from this could be our marginal income tax rate (i.e. 31% or about $1,200). :shock: Apparently the correct way to process this would have been for the employer to pay my spouse through their accountable plan and to h...

Flew into MT, drove in on the Beartooth Hghwy (snow still on the ground and wildflowers in july) and flew out from Jackson Hole.

I was able to find lodging in some of the park accommodations for 1 to 2 nights at a time, even booking just 8 months out in 2010.

So, do write to FDA please.

Anyways, I'd consider reaching out to the brand name company and telling them what happened, etc. It's totally different, but I once accidentally bought a pirated DVD that wasn't playing correctly (from a chic mall in Latin America), and when I complained to the film distributor providing specific information about the shop where it was bought, the movie company then sent me a couple of freebies as a thanks.

leonard wrote:
Thanks. That is one old school, user unfriendly website.

Appreciate the information.

Sure, you're welcome. Thanks for the post.
I have to replace my fan, and this info helps.

leonard wrote: R-value on that?

EDIT: I don't see that product on batticdoor.com.

The website says it's R-8. It's listed as the 3rd or 4th product down on the right side of that website.

Re: insulation

We installed a piece of flexible insulation on the inside of the house, with velcro strips. Works well and looks discrete.
I think it's called the Battic Door - Whole House Attic Fan Ceiling Shutter Seal. Available from various vendors.

I live in the SE, and bought from a smaller regional company through a highly recommended reseller/installer. It was much cheaper than the big window companies, but everything is good quality, and the lifetime warranty is transferable one time. They were more expensive than big box stores, but... In an older home you may need to think about lead paint and testing requirements and potential extra costs of EPA requirements. My local company had an easy solution to not test, since i do not want to know if we have lead..i just assume it. So they just took the necessary precautions by sealing windows on inside with plastic sheeting and installing new windows from outside. Post installation testing for lead paint among any dust on the inside was ...

Lots of good suggestions. Keep it simple.
I second the suggestion to develop an investment policy statement.

Since you use the taxable brokerage for investing, I'd also read up on both tax gain harvesting and tax loss harvesting (see the wiki). Maybe include criteria in your IPS for when and how to use these strategies. But i think these can maybe be a secondary item (to add to your IPS at a later date) in comparison to other items on IPS, which are a priority. Again simplicity is valuable IMO.

Well, there's also the "true 5 year cost to own" which includes insurance, maintenance, and gas. I thought this thread was about that.

I have a 4 yo and 2 yo, and as parents we discuss personal finance issues in front of the older one. 4 yo has a piggy bank and a Sesame Street dvd called "for me, for you, for later" (used for $15) which she has watched a couple of times...it's okay. I want to start an allowance in a year or two. I think involving one's kids in the family's financial decisions and discussions is a very important thing to do. And there's some academic evidence to this effect. So a 9 yo could get some beneficial exposure this way. I think the most important things for younger kids are teaching the value of hard work, perseverance, emotional strength and delayed gratification...which are really more about professional competence and success. Sounds l...

~7% this year w income ~90k. May go up to 8.5% if we do another 4 day trip to the beach by driving. This includes a yearly 3 week international trip where we stay with various family for 2 weeks and also spend one week in a cheap B&B on a beach or elsewhere touristy. Then we spend a week on Florida panhandle in rented cabins (driving and taking lots of gear including bikes and trailer for 2 young kids). I include driving cost guestimatted at 30 cents per mile (insurance, maintenance, gas) and with a 6 yo Prius this is cheaper than average. It's nearly impossible for us to swing more vacation days than that. But it's plenty. Hopefully when the kids are older we can alternate our standard international trip with somewhere different, espec...

Since you like me are in the 15% bracket, you could also learn about tax gain harvesting (see the wiki). I will jump tax brackets next year, and so i just did the tax gain harvesting this year. Also I did not sell the losses to keep them for possible tax loss harvesting next year in higher bracket.

Edit: I second selling taxable to fund 401. You could sell gradually to make sure you are buying at similar prices.

LTC insurance probably would not have been a good bet even before her health deteriorated (based on assets and average length of stay around 6 months i think). I'd confirm that LTC insurance is not available due to current health status. If available which i doubt, I would only buy through a State Partnership-qualified program to increase the asset disregard.
http://longtermcare.gov/costs-how-to-pa ... insurance/

I'd find my state's "special income level group" which allows higher income ($2k+ a month) while still qualifying for Medicaid...but the assets level is still around $2k total.

I really have no idea, but wish you the best.

Good job!

I see the Roth IRA and IRS obligations as a good educational opportunity where kids can learn about (1) saving money and (2) taxes and the advantages of saving in tax advantaged vehicles. It could be viewed as two positives, if you just accept the small reporting burden.

And they won't approach the FAFSA "dependent student income protection allowance" of $6,400.

If you're close to an increase in step level, you could maybe delay relocation a bit.

And Texas doesn't have income tax compared to 4.6 percent in CO

larryswedroe wrote:. And I would note that the 2014 report is outdated and it has gotten worse since then.

Has it gotten worse, or is it just the update to GASB which introduced new accounting standards for pensions and was fully implemented recently (i think FY 15). I imagine the more recent increases in unfunded accrued pension liabilities is largely due to the GASB update.
For example a more conservative discount rate (20 yr Treasury) is now required to calculate the PV of any underfunded future years. Experts in the area probably do consider the recent changes, but I would like to know for sure if and how GASB 67 and 68 have been considered.

If you become married and file join taxes in the future, you're tax bracket could decrease so there could be more tax savings from using all your tax advantaged retirement space now. Also kids can bring additional tax credits. So again I'd maybe max out your 401k during the next couple of years and set aside the rest for housing etc.

Some modems come with the wireless router built-in, while others are just modems.
I bought separate devices.

Longtermcare.gov

Medicare doesn't cover LTC. To qualify for Medicaid requires spending down assets, so LTC insurance may make sense for folks at modest asset levels. If considering, verify that this would increase your asset protection given by your state. Finally the Medicaid cutoffs vart across states.

If you don't buy Medigap coverage initially then the insurance providers can later deny you. Therefore it can be best to first try out traditional Medicare w Medigap and to only pick MCR Advantage later.

Is it purely by new contributions or exchange of funds or both? Thanks! I front-loaded the 529s and will continue contributing for the next couple of years at least (with kids at 4 and 2 years old). I'm not planning to change the AA for 5 years (currently 75/25, balanced "growth portfolio"). Then I'll probably move to 50/50 over the following 5 years, in a straight line. When I start making the AA more conservative, I will do so mostly through transfers. Beyond 10 years, I haven't really thought about what I'll do. BTW, I think my 529 contributions will reduce greatly before I start becoming more conservative, and I will instead fund retirement with a more risky AA. Currently my 529 AA is more conservative than retirement, and I ...

I have a NY 529, and the glide path is more like two large steps. So I would be very tempted to do as you say (deviate from the plan and time the market) if there was a downturn just before one of the steps... So I planned to manually change the AA each year.

If it was a more gradual slope (like my target date retirement) I'd be far less tempted to deviate from my plan.

Shoot, maybe setup a 529 for the kid with a portion of your proceeds to make up for a worse school district. Though definitely estimate your legal savings in doing this.

Unfortunately, i may also try to find more viable rental housing in a comparable school district, which may involve moving fairly far from this house and might not even be possible.. Your SO should talk to her sister ASAP to get them into a new school over the summer. I would not care very much about angering a sibling but I'd be sad about the kid involved... Help them with moving expenses, logistics and rent until the house sells. Just dont cosign for the rental apt.

Obviously she needs a source of income beyond the house sale.

Get the mole checked out before you fill out the health questionnaire etc. Otherwise if you withhold info, they can try to not pay your family. And your initial quotes for comparison will be more accurate.

I had a family member who bought life insurance before getting diagnosed with a terminal illness, and the insurer certainly did their due diligence to make sure we did not withhold info and that they policy holder did not suspect that something was up.

Get the insurance.

Fernbank is not great compared to other science museums but Friday night has cocktails and imax which may be more interesting. The High museum also has Friday night events. Carlos museum on emory's campus is small but nice. We have some good music bars, but that's more hit or miss depending on the performers. Something cultural at night could be True Colors theatre group, for example. They have a play that ends Aug 7. The aquarium is a bit "too Sea Worldy" for my taste, but impressive nonetheless. You could do the segway tour. There's also a bike tour. Someone recommended you do the beltline and ponce city market and krogg st. I agree. You could rent a bike at Atlanta Beltline Bicycle (20 min walk from marta train) or Skate Escape...

Long-term care insurance is probably a non-starter for somebody with existing health conditions.

Maybe you can look into buying an annuity for her.

I know it's a bit disturbing but you can use an online calculator to estimate someone's life-expectancy. I would use this life-expectancy information in considering options for temporarily increasing her income (if income is expected to be insufficient) so she can defer SS payment to get the full payout.

As you know, Medicare kicks in at 65. There's supplemental insurance (Medigap), and it's critical to sign-up for it (if she wants it) during the first open enrollment period; otherwise her preexisting conditions would probably preclude a future purchase of Medigap supplemental insurance.

I use a reel mower.
But I also have a battery operated trimmer that I use to cut the lawn if the grass grows too tall for me to still push the mower.
There are also cord operated electric mowers and even battery operated mowers nowadays, but I like my setup.

If you want to do it yourself (and even if you don't, still) take soil samples to your local county extension office. They should provide instructions on how to gather samples, and they will recommend how much lime to apply and what types of fertilizers to use depending on what type of plants you intend to plant around the location of each soil sample. Generally, they give you a 3-year schedule, first to get things to the 'ideal' levels and then to maintain things going forward. I get soil samples every 5 years and coordinate the trip with other activities in the government buildings (like early voting or car registration). Getting organic matter into the soil (to help earthworms, water retention and plant health) is more difficult and usua...

Take home Income after 401K: $2,470 Expenses: $1,730 (Salary $42.5K/year) That comes out to about 70% on expenses, leaving about 30% or $740/month or ~$8,800 per year to build an emergency fund and direct to your savings. Maybe these numbers are wrong because the OP is talking about increasing the student debt payments by just some $85/month...if that's the case, where's the rest going? If I could go back in time to your age, I'd make a budget of after tax income and learn to stick to a 50/30/20 split for needs/wants/savings. Student debt payments and employer match can count as savings and both should be prioritized. I think the OP is on an excellent track with relatively low expenses and additional room to prioritize savings early on. Wa...

OP: Ignore the 18,000 number. Find a chart that lays it out in percentage terms, and I bet you'll feel a bit better.

Obviously, 5% of 18,000 is a bigger number than 5% of 3,000, but it still comes out to 5% of whatever you put in.

Apparently, there's no minimum contribution for a Roth IRA for Kids at Fidelity, but there's a $50 fee to close-out an account.

https://www.fidelity.com/retirement-ira/roth-ira-kids

As I said, as a foreign national I'm not sure if I will retire here. Employer match in 401k will offset the 10% penalty if I ever need to liquidate it. I'm not talking about the exit tax here - I hope that by the time I would be subject to it I'll make my mind about retiring more. If the OP became a permanent resident and lived here long-term (8+ years), they'd be subject to the 30% repatriation tax if giving up US residency. Leaving 401k space appears to therefore be part of the OP's risk mitigation strategy. I'm not clear on how the repatriation tax works (and nor do I have a crystal ball to divine what other retroactive laws that Congress may implement), but it appears complicated enough that the OP may also want to consider the option ...

Maybe install a Little Library with 'adult' books.
You can buy a pre-made one, including shipping costs, for like $300.

You're on record supporting a financial transactions tax.

Are there any modifications to standard FTT proposals that you think are particularly innovative for addressing high-frequency trading, front-running, etc?

Should tax-advantaged accounts be exempted from the tax, and if so, is a tax credit for qualified contributions the best mechanism? I assume the tax credit idea would involve extra paperwork for tax returns.

I'm in a similar situation in GA, and decided to fund a GA 529 up to the state deduction amount ($2,000/child) and then put extra money out of state.

Also, you might want to consider the different investment options between 529s. Oregon like Georgia has a "guaranteed option" of some sort (also backed by TIAA) which might be useful to balance against a more aggressive holding in the NV fund. I don't actually use the guaranteed option. As the kids get closer to college, perhaps I will rollover the out-of-state 529s into GA's guaranteed option.