Search found 6328 matches

by cherijoh
Sun Nov 10, 2019 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Do I Understand Safe Harbor rules correctly?
Replies: 27
Views: 2480

Re: Do I Understand Safe Harbor rules correctly?

As long as we pay 110% of the total tax that we owed last year, is this sufficient to avoid any issue with underpayment penalties? Unfortunately, NO. For high earners you must have 110% of the total tax bill you owed last year withheld from you pay checks. So estimated tax payments do not count. Th...
by cherijoh
Sun Nov 10, 2019 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7224

Re: Should I buy the family cottage?

Some complications that I didn't mention previously- My father currently has it in the will as split four ways. He doesn't like that option because of how that has gone with other families on the lake. This would result in a tenancy in common situation where anyone who wanted out could force the im...
by cherijoh
Sun Nov 10, 2019 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7224

Re: Should I buy the family cottage?

celia wrote:
Fri Nov 08, 2019 9:06 pm

But this is family. Your dad got it for a good deal, instead of his siblings.
You raise an interesting point, Celia. How did the original transfer work from OP's grandmother to OP's father. Was he an only child? If not was their resentment from his siblings?
by cherijoh
Sat Nov 02, 2019 12:18 pm
Forum: Personal Investments
Topic: What should I know before doing Roth conversion?
Replies: 7
Views: 865

Re: What should I know before doing Roth conversion?

DW & I are almost certainly in a lower tax bracket this year than we will be in retirement. We've used up 100k pretax space this year. A few questions before I convert: 1. What should I know? Current situation: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=293620 2. When is the deadline for ...
by cherijoh
Sat Nov 02, 2019 7:20 am
Forum: Personal Investments
Topic: Quick RMD Question
Replies: 14
Views: 1731

Re: Quick RMD Question

On a silly but practical side, how can I know the balance of my IRA or 401(k) on Dec. 31, last year if I don't keep track of them? Do I have to ask the account custodians, for example, Fidelity? Your custodian should have mailed you an end-of-year statement. If you opted for paperless, it will be p...
by cherijoh
Tue Oct 29, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: California Fires: Landlord/Tenant Question
Replies: 71
Views: 4122

Re: California Fires: Landlord/Tenant Question

I think there was talk of PG&E reimbursing the customers for the power shutdown. Who gets the reimbursement? The tenant or the landlord? The tenant would - assuming the utilities are in their name (i.e., not someone just renting a room in someone's house). If the furnace blew up or the hot water he...
by cherijoh
Tue Oct 29, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: California Fires: Landlord/Tenant Question
Replies: 71
Views: 4122

Re: California Fires: Landlord/Tenant Question

I live in Northern California but I'm not directly affected by the fires or the power outages. We happen to live in an area that isn't at risk, right near San Francisco. A couple that we are good friends with have a newborn baby and live in an area where the power was shut off. It gets too cold at ...
by cherijoh
Wed Oct 23, 2019 7:18 am
Forum: Personal Investments
Topic: How do you get over an investing mistake?
Replies: 42
Views: 2047

Re: How do you get over an investing mistake?

Less than two years ago, I invested a significant amount of money into a particular small-cap stock that I had researched very deeply. It has now roughly doubled in stock price over two years. But I sold slightly less than 15% of my position at the halfway mark, so I missed out on approximately 50%...
by cherijoh
Tue Oct 22, 2019 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11548

Re: Ok to go without health insurance?

Only as an individual one has to wait for open enrollment. If you are a business, business can shop for coverage any time. Information from insurance company and brokers. While we ( physicians) have been working harder each year for less money without any increase in our reimbursements, health insu...
by cherijoh
Tue Oct 22, 2019 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11548

Re: Ok to go without health insurance?

sleepysurf wrote:
Tue Oct 22, 2019 10:50 am
You're physicians, and seriously considering this? :confused

Certainly you've both seen catastrophic accidents or unanticipated bad diagnoses!
+1

My thoughts exactly!
by cherijoh
Tue Oct 22, 2019 4:46 pm
Forum: Personal Investments
Topic: Fidelity Disclosed Personal Account Information
Replies: 20
Views: 2689

Re: Fidelity Disclosed Personal Account Information

In an attempt to sell product(s), a Fidelity representative left a voicemail at my office disclosing how much I made in dividends ($45,000) so far this year. My office voicemails are disseminated to key employees. Now, I don’t know if this is illegal, but it certainly breaches my trust with the org...
by cherijoh
Sun Oct 06, 2019 9:17 pm
Forum: Personal Investments
Topic: Highly Compensated Employee & 401K limits
Replies: 41
Views: 4326

Re: Highly Compensated Employee & 401K limits

I am a HCE employee in a safe harbor 401k plan with a 4% match. While I am able to reach the annual elective deferral limit, plan discrimination testing prevents me from being able to direct any bonus/profit sharing to the 401k (to take advantage of the higher total limits on 401k plans). So a safe...
by cherijoh
Tue Oct 01, 2019 8:33 am
Forum: Personal Investments
Topic: Highly Compensated Employee & 401K limits
Replies: 41
Views: 4326

Re: Highly Compensated Employee & 401K limits

At my company I generally max out my 401K ($19K) and my Roth IRA ($6K), but a few months ago my accounting department asked me to switch my 401K percentage down since last year I hit the the "Highly compensated Employee" limit of $120,000 last year on our 401K and I can only do 2% more than the ave...
by cherijoh
Mon Sep 30, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: How to Avoid a Tax Penalty with a Roth Conversion
Replies: 50
Views: 4049

Re: How to Avoid a Tax Penalty with a Roth Conversion

Thanks everyone for the great advice! I didn't realize I could go straight from a 403B to a Roth IRA. I didn't know if this was possible, since I didn't see a simple way for this to fall in to the federal tax return. As far as I can tell, Form 8606 only talks about Roth conversions from an IRA, not...
by cherijoh
Mon Sep 30, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce tax exposure?
Replies: 14
Views: 1548

Re: How can I reduce tax exposure?

For your Taxable account: 1. Buy US and International equities with your $100k per year contributions. 2. Star/Wellesley/Wellington/LULU/EDU - these are either not tax efficient (due to bonds) or not diversified enough. Turn off dividend and capital gain reinvestment so you don’t buy more. Sell any...
by cherijoh
Fri Sep 27, 2019 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Half of Retirees Afraid to Use Savings
Replies: 111
Views: 12702

Re: Half of Retirees Afraid to Use Savings

After a brief time of me being reluctant to spend my retirement savings assets, I soon got over it and now DW and I spend away and keep an eye on the bottom line at the same time. What do most of you folks do? A 2009 study estimated that by the time middle-income retirees are in their 80s, they sti...
by cherijoh
Thu Sep 26, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20155

Re: financially clueless senior MIL who thinks she’s rich

.Her house is in a rural area and probably sells for $200k. They have $190k in savings ( my FIL had it all in CD ). Her SSI+pension is about $2200 per month. My MILis 84 I think you're far too conservative. Her likelihood to live another 20 years is insanely low. What do you consider "insanely low"...
by cherijoh
Wed Sep 25, 2019 5:33 am
Forum: Personal Consumer Issues
Topic: DFW to Tasmania - 15 hour time change
Replies: 51
Views: 3100

Re: DFW to Tasmania - 15 hour time change

I usually just stay up and crash when I arrive. I've never been able to sleep well on planes, even in lie flat seats, so a bit of sporadic dozing is all I can do anyway. The next morning, I get up and go for a walk. Getting some sunshine helps. Easing into the time difference a few days in advance ...
by cherijoh
Wed Sep 25, 2019 5:17 am
Forum: Investing - Theory, News & General
Topic: Success without 401k or Stocks?
Replies: 51
Views: 3927

Re: Success without 401k or Stocks?

Why would you bother maxing your Roth IRA, if the money won't be invested? :? I plan on investing it in a year or two when I find something I believe in and not just invest at the top of the market and lose half ( yes I know timing the market is bad). The roth will be my traditional retirement fund...
by cherijoh
Tue Sep 24, 2019 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take a pension buyout?
Replies: 15
Views: 1125

Re: Should I take a pension buyout?

My point was that anyone offered a pension buyout should validate that the buyout is a good deal for them and not just assume that it was actuarially fair. There's no federal requirement that the lump sum be based on the early (subsidized) benefit - evidently your employer's plan thought that a sub...
by cherijoh
Tue Sep 24, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Reasonable Accommodation Requests?
Replies: 48
Views: 3317

Re: Reasonable Accommodation Requests?

I wanted to get some thoughts as to seeking work accommodations. Up until recently, I was able to work from home, however, changes in my manager and a transfer to my current work location, is necessitating I start working in the office. The primary issue with working in the office relates to three ...
by cherijoh
Tue Sep 24, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take a pension buyout?
Replies: 15
Views: 1125

Re: Should I take a pension buyout?

I was offered a pension buyout a few years ago from a former employer. I ended up sticking with the regular pension because the lump sum calculation was based on the assumption that I'd take my pension starting at 65. Since I was entitled to draw the full pension at 60 (due to years of service), th...
by cherijoh
Tue Sep 24, 2019 1:02 pm
Forum: Personal Investments
Topic: retiring abroad with savings worth 200k...
Replies: 101
Views: 15341

Re: retiring abroad with savings worth 200k...

bhradbh wrote:
Thu Nov 01, 2018 5:22 pm
With no rent, car or medical expenses, a single person could live adequately on $1k per month, even in the US.
And how did you conclude the OP would have no rent, car, or medical expenses if he moved to Mexico? :oops:
by cherijoh
Tue Sep 24, 2019 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take a pension buyout?
Replies: 15
Views: 1125

Re: Should I take a pension buyout?

Long time lurker, but now I need some advice... I'm 66YOA. I'm currently employed, but I'm not sure how long the job will last. It could last 5 years, in could last 5 weeks. I'm in pretty good health. I have about $2 million invested in a 401k. The 401k is in a traditional 60-40 stock/bond split. I...
by cherijoh
Tue Sep 24, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: 2 weeks notice or No Notice ? save 3.5K or Reputation ?
Replies: 135
Views: 11227

Re: 2 weeks notice or No Notice ? save 3.5K or Reputation ?

Hi Everyone, Update: I notified my manager yesterday, Monday and I was surprised that he didnot let me go yesterday. He called me back and asked why am I leaving ? I said that I am very concerned with the outsourced company culture and not extending my contract date beyond 1 year. so 'uncertainty' ...
by cherijoh
Tue Sep 24, 2019 10:23 am
Forum: Personal Investments
Topic: Garrett Fee Only
Replies: 18
Views: 1979

Re: Garrett Fee Only

Looking for some opinions regarding the use of a Garrett Network fee-only planner. My wife and I are getting close to making a significant life change involving leaving our jobs and living on the road for a few years. While I have taken the liberty to run the numbers and make certain that we should...
by cherijoh
Tue Sep 24, 2019 9:49 am
Forum: Personal Investments
Topic: So, Wow [AA change after divorce]
Replies: 84
Views: 10887

Re: So, Wow

Agree that asset allocation for your portfolio is personal. Anywhere from 50/50 to 70/30 is reasonable IMO. The bigger impact on your portfolio is that your monthly expenses exceed your monthly income for the foreseeable future. Some of your expenses like childcare and parent support will go away i...
by cherijoh
Tue Sep 24, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Career Discussion / Options - Information Technology @ age 50
Replies: 22
Views: 2345

Re: Career Discussion / Options - Information Technology @ age 50

Call it mid life crisis or late life crisis, I am planning for a career change, so want your thoughts on how to proceed if you are in IT / Software Technology Product companies. Overall, from a financial perspective, we are well positioned if I can work for next 10 years, to keep up with the expens...
by cherijoh
Tue Sep 24, 2019 7:19 am
Forum: Personal Consumer Issues
Topic: Letter from Amex - scam?
Replies: 34
Views: 3877

Re: Letter from Amex - scam?

I worked Escheats at megacorp for a few years, and this is the exact process we used to try and confirm a current address so we could re-issue the payment or send the funds to the appropriate state. I am not surprised that Customer Service wasn't aware of the Escheat activity as most megacorps aren...
by cherijoh
Mon Sep 23, 2019 5:46 pm
Forum: Personal Investments
Topic: My "simple" Backdoor Roth Conversion
Replies: 4
Views: 768

Re: My "simple" Backdoor Roth Conversion

Both my spouse and I have modest amounts in "nondeductible" IRAs accumulated over the years 2013-2019. My spouse's situation is far more complex, so I'm trying to address my "simple" conversion first. If I retire as of the end of this year as planned, I will not be making further contributions to t...
by cherijoh
Mon Sep 23, 2019 4:02 pm
Forum: Personal Investments
Topic: Do I need to become more conservative as I age
Replies: 22
Views: 2978

Re: Do I need to become more conservative as I age

I am 60 and like what I do, so I don't plan to retire until 70. I have always been somewhat aggressive as an investor and in no economic downturn have I worried about the money or my investment philosophy. I have been reading about the need to become more conservative as I age. Does that apply to m...
by cherijoh
Mon Sep 23, 2019 2:07 pm
Forum: Personal Consumer Issues
Topic: First car for child
Replies: 129
Views: 8032

Re: First car for child

Newer vehicles have more safety features, and one that would have saved several fender benders in our circle of friends would be a back-up camera. In my anecdotal circle, backup cameras have not provided any panacea for inexperienced drivers. Friends and family have had a rash of backup fender bend...
by cherijoh
Mon Sep 23, 2019 10:54 am
Forum: Personal Finance (Not Investing)
Topic: How does a bank make money off you? How to ensure they don't
Replies: 69
Views: 8128

Re: How does a bank make money off you? How to ensure they don't

A $250k balance for low-interest banking seems unusually high. What is it about their banking that you find appealing especially if they continue with the sales pitches? Is this a U.S. bank? Do you require banking services above the “usual offerings” - checking/savings/mm accounts, safe deposit box...
by cherijoh
Mon Sep 23, 2019 10:03 am
Forum: Personal Consumer Issues
Topic: Email Compromised On The Dark Web
Replies: 20
Views: 3599

Re: Email Compromised On The Dark Web

This is a routine event nowadays, and you should be concerned if and only if you are reusing the same password. If you are, change that password on every account where you use it. CreditWise is likely using the same database as http://haveibeenpwned.com/. If you look up your email address on that s...
by cherijoh
Mon Sep 23, 2019 9:13 am
Forum: Personal Investments
Topic: Coming to the realization that Traditional is probably wiser
Replies: 42
Views: 6903

Re: Coming to the realization that Traditional is probably wiser

I do understand the taxable investing option when faced with non-deductible contributions. In my case, it takes every new dollar I have to rebalance into taxable bonds (munis) in an attempt to keep my AA in balance with the market run up since 2009. So my choices would be (assuming I were still emp...
by cherijoh
Mon Sep 23, 2019 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Suburbs or more expensive home closer to city center to maximize job opportunities (Nashville/Charlotte)
Replies: 13
Views: 1606

Re: Suburbs or more expensive home closer to city center to maximize job opportunities (Nashville/Charlotte)

I'm curious of people's opinions/experiences with this and whether this is an appropriate justification. We are considering relocating to either Nashville or Charlotte from Phoenix metropolitan area. We've had one too many summers and would like to get back to the east coast. In looking at homes an...
by cherijoh
Sun Sep 22, 2019 5:34 pm
Forum: Personal Consumer Issues
Topic: First car for child
Replies: 129
Views: 8032

Re: First car for child

Newer vehicles have more safety features, and one that would have saved several fender benders in our circle of friends would be a back-up camera. In my anecdotal circle, backup cameras have not provided any panacea for inexperienced drivers. Friends and family have had a rash of backup fender bend...
by cherijoh
Sun Sep 22, 2019 5:12 pm
Forum: Personal Investments
Topic: Old employer forcing out of 401k-rollover options?
Replies: 14
Views: 1029

Re: Old employer forcing out of 401k-rollover options?

1. Can her previous employer legally force her out of the old 401k? Is it possible for her to just continue to keep her funds there against their wishes? My recollection was that the former employer could only force closure for a low balance in the plan. This webpage on the IRS.gov appears to suppo...
by cherijoh
Sun Sep 22, 2019 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: When to give notice
Replies: 29
Views: 3830

Re: When to give notice

I wanted to thank everybody for the kind and sage advice. This forum is incredibly helpful and I plan to post more in the future. I gave notice on Friday and was prepared to be walked out the door. Conversation with supervisor went well and was respectful. I went back to my desk and continued worki...
by cherijoh
Sun Sep 22, 2019 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

The ability to recharacterize a conversion went away. You still have the ability to switch the designation for this year's contribution from Roth to Traditional or Traditional to Roth. Both were called recharacterizations which leads to some confusion. What you are saying is true, but it does not a...
by cherijoh
Sun Sep 22, 2019 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

Form 8606 Line 1 (Nondeductible contributions to IRA) $0.00 Line 2 (total basis in tIRA) $12,000.00 Based on the OP, I think the $12K goes on line 1 and $0 on line 2, but that was from only a quick glance. Doesn't change the bottom line. 2019 AGI $146,000 Deduction $27,400 Standard deduction is $24...
by cherijoh
Sun Sep 22, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

Do remember the taxes on those conversions are normally due at conversion time and must be paid in that quarter. Do they have to be paid in that quarter or could she just increase her withholding at work to cover the conversion? If you are using conversion $ to pay the taxes, just have the taxes wi...
by cherijoh
Sun Sep 22, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

Woo! :happy I thought I had made a colossal and irreversible mistake in doing the $12k conversion since I then assumed the $271k tIRA. From what I had read, it seemed like having a year end balance in the tIRA was a bad thing, and thus I was thinking I needed to empty it before end of 2019 to avoid...
by cherijoh
Sun Sep 22, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

GeekGal, welcome to the forum and condolences to you and the rest of the family for your husband. Question: Am I subject to the aggregation taxes in 2019 on the $271,000 currently held in my Traditional IRA, even though those funds were received after I did the $12,000 conversion to Roth? It will p...
by cherijoh
Sun Sep 22, 2019 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Conundrum
Replies: 99
Views: 7586

Re: Roth Conversion Conundrum

Now, since your husband died so early in the year, he didn’t have much wages (unless his employer paid out unused vacation and sick time). If you can project your joint wages for this year AND it is below $193K, you both could have made Roth contributions instead. https://www.rothira.com/roth-ira-l...
by cherijoh
Sun Sep 22, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: 2 weeks notice or No Notice ? save 3.5K or Reputation ?
Replies: 135
Views: 11227

Re: 2 weeks notice or No Notice ? save 3.5K or Reputation ?

I really don't understand the seemingly common view that employees owe their employers more than their employers owe them. If an employer does not give their employees two weeks notice or severance after firing or laying them off, then I see no purpose in giving them the same notice. And if failing...
by cherijoh
Sun Sep 22, 2019 12:16 pm
Forum: Personal Investments
Topic: I am being asked to retire. Am I ready?
Replies: 84
Views: 10578

Re: I am being asked to retire. Am I ready?

bertilak wrote:
Sun Sep 22, 2019 11:56 am
Looks comfortable to me. A $5M nest egg (includes your lump sum incentive) with no debt lets you do just about whatever you want. Take the money and run!
I think pension lump sum is already included in the $4.1M figure.
by cherijoh
Sun Sep 22, 2019 12:14 pm
Forum: Personal Investments
Topic: I am being asked to retire. Am I ready?
Replies: 84
Views: 10578

Re: I am being asked to retire. Am I ready?

Average Monthly Expenses (based on 3 year look back plus anticipated health insurance): $9,800 Emergency funds : $60,000 in Money Market Age: Me - 54, Spouse - 55 Desired Asset allocation : 60% stocks / 40% bonds (open to advice on this) Current retirement assets Taxable $568,000 14% cash (Much of ...
by cherijoh
Sun Sep 22, 2019 11:18 am
Forum: Personal Investments
Topic: Glide path vs Coming In Hot
Replies: 23
Views: 2828

Re: Glide path vs Coming In Hot

My wife and I are both 53, make around $350K per year total, have about $1.7M in mostly-401k retirement savings in 80/20 3-fund portfolios, and the kids will be out of college and hopefully on their own in another 5 years. (This isn’t a portfolio review, since this is I hope more a conceptual appro...
by cherijoh
Sun Sep 22, 2019 9:19 am
Forum: Personal Finance (Not Investing)
Topic: 2 weeks notice or No Notice ? save 3.5K or Reputation ?
Replies: 135
Views: 11227

Re: 2 weeks notice or No Notice ? save 3.5K or Reputation ?

Excellent analysis. I'm the OP. Yes, I am confirmed with the new job starting Oct 16. All background check cleared etc. so I will be in the intl trip for 7 business days, Company B gives 2 floating holidays + 2 accrued days + 3 CA sick days I could take = 7 days or they cant allow sick days and Com...