Search found 467 matches

by Rainmaker41
Wed Nov 21, 2018 7:00 pm
Forum: Investing - Help with Personal Investments
Topic: Would you like to review our IPS?
Replies: 7
Views: 938

Re: Would you like to review our IPS?

Thank you KlangFool. I just now saw your response from last month. You raise good points that bear pondering. Maybe we will just keep cloning LifeStrategy Growth 80:20 until we approach our FI number. I’ve focused more on savings rate than on investment details since we wouldn’t change anything for ...
by Rainmaker41
Thu Nov 15, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 133
Views: 12286

Re: How Long / Hard To Become a Millionaire on Under $100k Income

This question speaks to me. We are a married couple (age 28) living in a high cost of living area. We have no kids and rent an economical studio apartment in the city for low commute costs. Our gross income is under $83k for 2018, but our health insurance costs are less than $1k per year due to good...
by Rainmaker41
Fri Nov 09, 2018 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: FreeTaxUSA.com now has 2018 Return available.
Replies: 32
Views: 3464

Re: FreeTaxUSA.com now has 2018 Return available.

Thanks. I checked our 2018 spreadsheet against FreeTaxUSA and they agreed.
by Rainmaker41
Fri Nov 09, 2018 8:24 am
Forum: Local Chapters and Bogleheads Community
Topic: December 9 DC Bogleheads Meeting with Stephen Goss, Chief Actuary of Soc Security
Replies: 22
Views: 2639

Re: Special DC Bogleheads Meeting with Steve Goss, Chief Actuary of Soc Security

My parents will be in town that weekend and are interested, so I may attend with them and my wife (4 people). I was last at a DC area Bogleheads meeting in early 2017 probably.
by Rainmaker41
Wed Oct 24, 2018 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: Would you like to review our IPS?
Replies: 7
Views: 938

Re: Would you like to review our IPS?

Thanks. The reason we plan to contribute to pre-tax IRAs is because we will need some of that to get under the saver’s credit cliff. Doing it all pre-tax on January 2, 2019 reflects the optimistic notion that we might need more in pre-tax than we project (have slightly higher income). At the end of ...
by Rainmaker41
Wed Oct 24, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: traditional IRA tax deduction, convert to ROTH
Replies: 3
Views: 298

Re: traditional IRA tax deduction, convert to ROTH

If he contributes $5,500 to a pre-tax IRA, and then converts $5,500 from the pre-tax IRA to a Roth IRA, he will deduct $5,500 from his income and and then add $5,500 to his income.

The tax filing could be slightly more complicated than that, but that is the gist of it.

There is no free lunch.
by Rainmaker41
Wed Oct 24, 2018 7:31 pm
Forum: Investing - Help with Personal Investments
Topic: Would you like to review our IPS?
Replies: 7
Views: 938

Would you like to review our IPS?

I thought it would be a good time to ask if our Investment Policy Statement seems reasonable. Thanks in advance. :sharebeer Investment Policy Statement - (uses 2019 tax figures) Investment Objective Financial Independence by age 60 (end of 2050), or if investments do well, in our 50s. Assume 25% red...
by Rainmaker41
Sun Oct 21, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 188
Views: 17066

Re: Where would you go for financial guidance if you win the Megamillions?

We'd use a top law firm for a trust or other suitable scheme to stay anonymous. Take the lump sum, then: - 20% to charities and Donor Advised Fund - 40% to taxes - 20% gifted to immediate family - 20% kept as our portfolio As for financial guidance, with that kind of money the asset allocation would...
by Rainmaker41
Fri Oct 19, 2018 5:52 pm
Forum: Personal Consumer Issues
Topic: How long for Social Security to issue new card for name change?
Replies: 1
Views: 273

Re: How long for Social Security to issue new card for name change?

Update: We sent sensitive documents to our local Social Security office 6 weeks ago by certified mail and have proof of delivery. SSA never processed them and told us when we called that they have no record of receipt or the action requested by mail in their computer system, that they would have pro...
by Rainmaker41
Fri Oct 19, 2018 5:49 pm
Forum: Personal Consumer Issues
Topic: How important is registered mail for important documents?
Replies: 28
Views: 1640

Re: How important is registered mail for important documents?

We sent sensitive documents to our local Social Security office 6 weeks ago by certified mail and have proof of delivery. SSA never processed them and told us when we called that they have no record of receipt or the action requested by mail in their computer system, that they would have processed w...
by Rainmaker41
Tue Oct 16, 2018 8:35 pm
Forum: Personal Consumer Issues
Topic: How long for Social Security to issue new card for name change?
Replies: 1
Views: 273

How long for Social Security to issue new card for name change?

I’m wondering what others’ experiences have been. Due to our marriage, my wife is changing her last name. We mailed the necessary application materials to the local SSA office by certified mail, and have proof they were delivered almost 6 weeks ago. The Social Security Administration’s website says ...
by Rainmaker41
Thu Sep 27, 2018 4:07 pm
Forum: Personal Consumer Issues
Topic: Am I the only one...[using multiple accounts]
Replies: 27
Views: 1442

Re: Am I the only one...[using multiple accounts]

We have the following cash accounts: A couple of credit cards Joint Online Checking Joint Online Savings/CDs His & Hers Brick and Mortar Checking (emergency/diversification; part of cash reserve) We don't have different accounts for different expenses, nor do we save up money for specific purchases....
by Rainmaker41
Sat Sep 22, 2018 7:59 am
Forum: Investing - Theory, News & General
Topic: Are We Headed For A Passive Index Meltdown?
Replies: 60
Views: 9423

Re: Are We Headed For A Passive Index Meltdown?

arsenalfan wrote:
Thu Sep 20, 2018 8:29 am
Author is CEO of Mutual Fund Company with ER in 1-3% range.
USGDX their US Government Ultra Short Term Bond Fund has ER 1.03%
Vanguard VUBFX Ultra Short Term Bond Fund ER is 0.2% (and 0.1% Admiral).
+1
by Rainmaker41
Wed Sep 19, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 33
Views: 3776

Re: General 2018 Tax Question

So... where do IRA deductions and the retirement savers credit amount go? I suppose on "Schedule 1" and "Schedule 3". I fail to see how this is a simplification which accomplishes anything.

https://www.irs.gov/pub/irs-dft/f1040--dft.pdf
by Rainmaker41
Thu Sep 13, 2018 7:28 am
Forum: Personal Finance (Not Investing)
Topic: reevaluating our life insurance needs
Replies: 6
Views: 572

Re: reevaluating our life insurance needs

Thanks for the input. This bears consideration. We are not homeowners. We might buy a house later on, but we are in a very high cost of living area. It seems more prudent to rent a cost-effective studio in the city that meets our needs. No plans for children but who knows. Our household income is $8...
by Rainmaker41
Wed Sep 12, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: reevaluating our life insurance needs
Replies: 6
Views: 572

reevaluating our life insurance needs

I am reevaluating our life insurance needs. We are married, in our late 20s, and have no children and no debt. Currently, we each have a $250k 30 year term policy with 29 years remaining. We got these last year when we were starting to organize our household, got married, etc. Our thinking was that ...
by Rainmaker41
Sat Aug 25, 2018 8:10 am
Forum: Personal Consumer Issues
Topic: Strange refund from gas co. on closed account
Replies: 7
Views: 918

Re: Strange refund from gas co. on closed account

Thanks all. I deposited the check without bothering to contact the gas company. The likely explanation that this was a government mandated refund of an overcharge of some kind makes sense.
by Rainmaker41
Mon Aug 20, 2018 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: When is interest income on family loans reported?
Replies: 2
Views: 482

When is interest income on family loans reported?

If we give a personal loan to someone in 2018, charge a given interest rate, but do not require any payments until a later tax year, in which year is the interest counted as taxable income? In 2018, because the interest is earned then but in effect lent out again immediately. Or In the later tax yea...
by Rainmaker41
Fri Aug 10, 2018 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: Thanks for first $100k - taxable next?
Replies: 2
Views: 976

Re: Thanks for first $100k - taxable next?

Thanks for the thoughts. That confirms my inclination to keep it simple. I’ll think about reformatting the portfolio, although my 403(b) could be getting some better funds (Vanguard Total Stock, Total International, etc.) this year. I might wait to see what happens there.
by Rainmaker41
Fri Aug 10, 2018 10:06 pm
Forum: Personal Consumer Issues
Topic: Strange refund from gas co. on closed account
Replies: 7
Views: 918

Strange refund from gas co. on closed account

About a year ago, I had moved to my new residence and closed my account with the gas utility company. The account was paid in full. My new residence has no gas, and I’ve had no contact with the gas company since then. I have now revived in the mail a refund check for less than $2. It has my utility ...
by Rainmaker41
Wed Aug 08, 2018 4:52 pm
Forum: Investing - Theory, News & General
Topic: Will rising inflation increase 401K and Roth contribution limits for 2019?
Replies: 29
Views: 7644

Re: Will rising inflation increase 401K and Roth contribution limits for 2019?

Thanks for the info. There’s another $2k / year in retirement space across 401(k)-type plans and IRAs for us MFJ households.
by Rainmaker41
Mon Aug 06, 2018 6:18 pm
Forum: Investing - Help with Personal Investments
Topic: Thanks for first $100k - taxable next?
Replies: 2
Views: 976

Thanks for first $100k - taxable next?

I would like to use the occasion of saving our first $100,000 in designated retirement funds to thank the Bogleheads community for my financial education over the past several years. The encouragement of this community, and the clear vision of what investing makes possible, has helped to bring us wh...
by Rainmaker41
Fri Aug 03, 2018 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 5901

Re: Comfort level with Credit Card Balance

I submit payments for everything owed to credit card issuers, including legitimate pending charges but less cashback simultaneously applied to the balance, on the 15th and last day of the month. It happens that one card's statement closes on the 15th and another on the 27th but that is technically i...
by Rainmaker41
Fri Jun 29, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 1.80%]
Replies: 246
Views: 42672

Re: ALLY BANK savings account RATE increase 1.75%

Funny how it never quite keeps up with inflation. Oh well- that’s the insurance premium for the stability of the emergency fund.
by Rainmaker41
Wed Jun 20, 2018 5:08 pm
Forum: Personal Consumer Issues
Topic: What will (or would) you tip when wages go up?
Replies: 53
Views: 3986

Re: What will (or would) you tip when wages go up?

I have never understood what makes restaurants different from every other kind of business. A company provides goods or services in exchange for the customer's price, out of which costs should be covered with the remainder being profit (assuming a good business model and prices set ‘correctly’ for t...
by Rainmaker41
Sun Jun 17, 2018 8:11 pm
Forum: Investing - Theory, News & General
Topic: What do you sell after the emergency fund?
Replies: 25
Views: 1709

Re: What do you sell after the emergency fund?

Our emergency fund is about 6 months of expenses including a bare-bones marketplace health insurance plan. That would be supplemented by unemployment insurance from the government, whose proceeds would extend our consumption ability by at least a few months, but I've never done the math on that sinc...
by Rainmaker41
Tue Jun 05, 2018 4:58 pm
Forum: Investing - Theory, News & General
Topic: WSJ:Social Security Expected to Dip Into Its Reserves This Year
Replies: 61
Views: 3563

Re: WSJ:Social Security Expected to Dip Into Its Reserves This Year

I plan on receiving the scheduled haircut to 75% of benefits paid for with my payroll taxes, since I will be old enough to claim long after 2034. “Fixes” to Social Security that give a bigger haircut than that to the middle class seem politically unlikely. My expectation is that there will be a fix ...
by Rainmaker41
Sat May 19, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: What’s your phone/internet bill?
Replies: 92
Views: 6989

Re: What’s your phone/internet bill?

$31.96 / month for Internet access up to 155 Gb. Will increase $10 / month in August and again in 2019 to $51.96 apparently. We own a combined modem-router.

$80 / month for service to two mobile phones. Goes up $10 per line if that line uses more than 2Gb in a month. We own the phones.
by Rainmaker41
Thu May 17, 2018 7:32 pm
Forum: Investing - Help with Personal Investments
Topic: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%
Replies: 26
Views: 4226

Re: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%

Or you could get 2% from a 6 month Treasury Bill state-tax free.
by Rainmaker41
Thu May 10, 2018 9:32 pm
Forum: Personal Consumer Issues
Topic: Do we spend too much on food?
Replies: 71
Views: 7009

Re: Do we spend too much on food?

2 adults in a high-cost city.

$400 /month groceries & household (anything eaten or used up like soap or paper towels).

$100 / month on eating out, takeout, etc.
by Rainmaker41
Sun May 06, 2018 2:35 pm
Forum: Personal Consumer Issues
Topic: MetroPCS vs. T-Mobile
Replies: 6
Views: 1474

MetroPCS vs. T-Mobile

Hi. We currently have phone service from T-Mobile for $80 / month. We own our phones outright. "2 Lines TMO ONE All In Promo" $110 monthly cost (10) with autopay (20) with kickback $10 off per line if less than 2 GB of data used (discontinued, but we are grandfathered in) $80 net monthly cost I am c...
by Rainmaker41
Mon Apr 23, 2018 4:58 pm
Forum: Investing - Help with Personal Investments
Topic: New Investor but have funds that were set up for me as a minor. Just now taking control of them.
Replies: 7
Views: 1001

Re: New Investor but have funds that were set up for me as a minor. Just now taking control of them.

I’d like to chime in and say that I think your commitment to living below your means, presumably taught to you by your dad if his provisions for you are any indication, is of great value. That you are showing this interest in those investments from the mindset of being a good steward of them demonst...
by Rainmaker41
Mon Apr 23, 2018 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Web Site Down?
Replies: 121
Views: 9496

Re: Vanguard Web Site Down?

Down for about 45 minutes since I started trying to get in. IT maintenance needed. Growth does existing customers-owners nothing; costs are already low but account access suffers.
by Rainmaker41
Thu Apr 19, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 32954

Re: How old are you and how much do you save for retirement a year

Married Filing Joint, age 27. In 2018 we’ll make $82k and contribute $48k to retirement accounts, with a cash on hand reduction of $5k, for net savings of $43k or about 51% of gross income.

No kids or mortgage, and we have a cheap apartment for our city.
by Rainmaker41
Wed Apr 18, 2018 7:26 pm
Forum: Investing - Help with Personal Investments
Topic: Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)
Replies: 4
Views: 810

Re: Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)

Thanks. I like that graph.

We'll re-characterize enough Roth IRA contributions at the end of 2017 to come just under the $38k AGI cliff and get a credit for all 2017 Federal tax as you suggested. I've halted Federal tax withholding going forward for that.
by Rainmaker41
Wed Apr 18, 2018 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: I want to pay off my mortgage. Am I crazy?
Replies: 54
Views: 6510

Re: I want to pay off my mortgage. Am I crazy?

Pay it off. If you decide you don't like not having a mortgage, you can always get another one from the bank later. Congratulations.
by Rainmaker41
Mon Apr 16, 2018 9:12 pm
Forum: Investing - Help with Personal Investments
Topic: Need advice with 2017 Roth IRA contribution
Replies: 2
Views: 283

Re: Need advice with 2017 Roth IRA contribution

Just get your 2017 contribution in by the deadline into a cash money market fund or something and then worry about the allocation if you can't decide now.
by Rainmaker41
Sat Apr 14, 2018 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 7125

Re: Could you support family on 1 income?

Yes, but we are married with no children. When we started our joint household & got married, we chose an apartment and built our expenses around one job, because the other person was moving and would look for work. The second job was secured more quickly than we had expected though. We joke that the...
by Rainmaker41
Sat Apr 14, 2018 6:12 am
Forum: Investing - Help with Personal Investments
Topic: Funding an IRA (Roth & SEP) at last-minute before tax deadline
Replies: 6
Views: 574

Re: Funding an IRA (Roth & SEP) at last-minute before tax deadline

Open and fund the Roth IRA anywhere. You can move the funds later. If you add funds to your Vanguard IRA, won’t it show as 2017 if you select that at the time the transaction is initiated, even if the transfer takes some time?
by Rainmaker41
Fri Apr 13, 2018 6:13 pm
Forum: Investing - Theory, News & General
Topic: Is it time to dump high yield savings for prime money market?
Replies: 140
Views: 28160

Re: Is it time to dump high yield savings for prime money market?

Cash is cash. Money Market Fund is near-cash, but is not the same. Is a 0.1% interest rate advantage worth the risk of the MMF having a redemption gate imposed during a financial crisis?
by Rainmaker41
Fri Apr 13, 2018 5:50 pm
Forum: Investing - Help with Personal Investments
Topic: Why traditional IRA better than Roth IRA
Replies: 87
Views: 9288

Re: Why traditional IRA better than Roth IRA

I agree with the above assessment that Roth is better than Traditional at low brackets. However, doesn't the calculus change substantially if you can get under one of the Saver's Credit tiers? Example: A married couple at at $38,000 AGI pays $1,400 in federal income taxes in 2018. If they get just u...
by Rainmaker41
Fri Apr 13, 2018 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)
Replies: 4
Views: 810

Re: Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)

Thanks for the input. It seems as though the optimum way to get the saver’s credit to knock out all federal income tax is to come in just below the $38,000 AGI cliff. Going any lower doesn’t save any Federal tax and only reduces state tax. So, I guess only recharacterize enough at the end of 2018 to...
by Rainmaker41
Thu Apr 12, 2018 9:35 pm
Forum: Investing - Help with Personal Investments
Topic: Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)
Replies: 4
Views: 810

Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes)

Change to all pre-tax for max Saver's Credit in 2018? (not 2017 taxes) Situation Cash: 6 months of expenses plus $9k surplus cash projected end of 2018 Debt: $0 Income: $81k Tax Filing Status: Married Filing Jointly Marginal Tax Rates: 10% Federal (most 403b savings in 12% bracket), 6% State Age: 2...
by Rainmaker41
Sat Apr 07, 2018 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much cash do you keep at any time on checking?
Replies: 183
Views: 17277

Re: How much cash do you keep at any time on checking?

1 month of expenses in checking at the start of the month.
6 months of expenses plus upcoming big items in savings.
by Rainmaker41
Sat Apr 07, 2018 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Parents have zero savings. What can I do?
Replies: 168
Views: 17470

Re: Parents have zero savings. What can I do?

I agree with the ideas expressed above that aid to family members should be: 1. Given only with agreement of spouse/family & big-picture/long-term understanding of what the end game is. 2. Necessary for the material well-being of the receiver (keeping them above poverty). 3. "Last-dollar" after publ...
by Rainmaker41
Fri Mar 09, 2018 12:20 pm
Forum: Personal Consumer Issues
Topic: No hot air or hot water, what are my options with the landlord?
Replies: 20
Views: 1096

Re: No hot air or hot water, what are my options with the landlord?

You may find this informative. I am not in the slightest a lawyer, but this seems to give you a lot to stand on.

http://www.state.nj.us/dca/divisions/co ... ablity.pdf

Source:

http://www.state.nj.us/dca/divisions/co ... ation.html
by Rainmaker41
Mon Mar 05, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: What will you do with your tax refund?
Replies: 87
Views: 6915

Re: What will you do with your tax refund?

Nothing. 2017 tax refunds were counted as 'cash receivable' on our end of 2017 household balance sheet. We do our annual budgeting of savings and expenses based on annual income & tax liability to end the year with the correct cash reserve, so any refunds are not windfalls. We'll get our 2018 refund...
by Rainmaker41
Wed Feb 28, 2018 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: How much cash do you keep at any time on checking?
Replies: 183
Views: 17277

Re: How much cash do you keep at any time on checking?

At the start of every month:

1 month’s expenses in checking (rent then paid out of this)
$0 on credit cards

6 months’ expenses in savings & CDs
$ for upcoming big purchases in savings

Everything else in retirement accounts
by Rainmaker41
Fri Feb 09, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Is there a way to figure 2018 taxes?
Replies: 18
Views: 2854

Re: Is there a way to figure 2018 taxes?

This one works well for regular Federal income, capital gains, etc. I'm not aware of a Social Security one.

https://www.calcxml.com/calculators/tru ... calculator