Search found 4584 matches

by cherijoh
Mon Apr 23, 2018 9:09 am
Forum: Investing - Help with Personal Investments
Topic: In-laws financial advisor rip off
Replies: 32
Views: 3177

Re: In-laws financial advisor rip off

Without going into too many unnecessary details, my in-laws are horrible with money. They lost almost all of their savings in a scam years ago. More recently they inherited some money. The estate attorney recommended his friend, a ML FA, to handle the inheritances (roughly 500k). The good news is t...
by cherijoh
Mon Apr 23, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

I don't think you understand how 72(t) distributions work. You are required to use one of 3 methods to determine your withdrawal and maintain it for at least five years or until you turn 59.5 whichever is longer . In OP's case that would be almost 20 years. This exception was really meant to cover ...
by cherijoh
Mon Apr 23, 2018 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Spreading Bond Safety to Taxable [Portfolio help]
Replies: 11
Views: 763

Re: From stock picker to boglehead -- how to divest

Hi all, just turned 30 and decided it was time I learned how to manage my investments. Previously, my dad was managing my taxable accounts and well turns out he was a stock picker. I'd like to move my money out of these individual stocks and into index funds in line with my desired AA, but I'm not ...
by cherijoh
Mon Apr 23, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

Despite being extremely motivated and achieved FI early, my wife is giving me the crap like the poster who thinks the thread is hilarious. I am bringing in freelance income on top of that - she wants me to continue working in my IT position so that she doesnt feel out of the way with everybody else...
by cherijoh
Mon Apr 23, 2018 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

If your premise were untrue (it is), would that change your advice? This is a genuine question. Yes, I would change. But what is untrue? The Op has $500k in taxable account, and expected expense is $120k a year. It is just math. So he can take about $80,000/year from the 401(k) in a 72(t) distribut...
by cherijoh
Mon Apr 23, 2018 6:31 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

[Also, many folks travel the world specifically to save even more money. You can live like a king in many parts of the world on less than $2k a month. Medical tourism and geo-arbitrage are things you should google. Flexibility adds a ton of options. Traveling for longer periods versus lots of short...
by cherijoh
Mon Apr 23, 2018 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

This thread is hilarious. Make sure to save enough for the divorce that will come when your wife works as a teacher while you sit at home. Not to mention the work ethic that you'll be instilling in your children. Find a different job. The beauty of your position is that it can pay less, so you have...
by cherijoh
Mon Apr 23, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

For clarity... I don't have 120,000 of expenses after taxes. I have 120,000 BEFORE taxes. Out of that money I pay $25,000 for health insurance for my family of 6 and have been making a mortgage payment and 2 car payments of roughly $2500 a month. That is all paid off so realistically my other expen...
by cherijoh
Sun Apr 22, 2018 9:17 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with an inherited Roth IRA
Replies: 8
Views: 754

Re: What to do with an inherited Roth IRA

My grandfather has amassed roughly 4.5M in a Roth IRA and he was asking me what the beneficiaries (my mom, aunt and uncle)should do with it once he passes. All of the beneficiaries are financially dependent but they are still working because they enjoy it. Im not sure if they should follow the 5 ye...
by cherijoh
Sun Apr 22, 2018 8:43 pm
Forum: Personal Consumer Issues
Topic: Traveling to italy.........
Replies: 13
Views: 927

Re: Traveling to italy.........

I haven't traveled by train in Italy for a long while. But on my last train trip in Germany a couple of years ago, I found it difficult to find a seat that wasn't reserved on the trip out of Frankfurt (on an intercity train). I wasn't sure when my flight would arrive or I would clear customs so I wa...
by cherijoh
Sun Apr 22, 2018 8:25 pm
Forum: Personal Consumer Issues
Topic: BH travel tips?
Replies: 146
Views: 8485

Re: BH travel tips?

Let’s share some BHish approaches to travel. Here are a couple to start... packing cubes available on amazon, these are thin canvas pouches (not actually cubes) that you load up with rolled clothing. staying at one hotel? Unload the cubes on arrival and reload them as clothing is “done”. Boom, pack...
by cherijoh
Sun Apr 22, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: DAF Suggested?
Replies: 13
Views: 822

Re: DAF Suggested?

Curious if anyone could share their wisdom to my particular situation. Our married income is somewhere near 80k with a pastoral job and side hustle. With housing allowance, (and retirement) our taxable number is much much smaller. We even qualified for the Savers Credit last year (and would like to...
by cherijoh
Sun Apr 22, 2018 7:45 pm
Forum: Investing - Help with Personal Investments
Topic: Small Roth, big RMD--advice?
Replies: 9
Views: 1092

Re: Small ROTH, big RMD--advice?

At what age are you thinking to retire and at what age will you start taking SS? I just retired and am planning to start doing Roth conversions between now and when I start SS in 2028 at 70. My investment mix is currently 24% taxable, 15% Roth and 61% traditional. (I did a modest amount of Roth conv...
by cherijoh
Sun Apr 22, 2018 3:57 pm
Forum: Investing - Help with Personal Investments
Topic: Should I consider Roth conversions while working?
Replies: 12
Views: 765

Re: Should I consider Roth conversions while working?

My husband and I gross over $200K a year. All of our investments are in real estate and traditional 401Ks at work. We will pay off the rental mortgages prior to retirement and then start saving in a VTSAX taxable account. We plan to retire in our late 40's. Our initial plan was for us to do a Roth ...
by cherijoh
Sun Apr 22, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Best Alternative to a Pension (DB )
Replies: 12
Views: 921

Re: Best Alternative to a Pension (DB )

There is no alternative, because the DB pension provides an unsustainable amount of income per dollar invested. Other plans you can buy won't offer that. So it comes down to whether the sponsor of the plan will make up for the shortfall. With other annuities you get about the same investment return...
by cherijoh
Sun Apr 22, 2018 10:27 am
Forum: Investing - Help with Personal Investments
Topic: My taxable account is banged up. Need some help!
Replies: 20
Views: 2115

Re: My taxable account is banged up. Need some help!

Thanks in advance. This forum has some incredible folks. 43 years old. Live in NJ. I have an IRA account that I cannot contribute to, so I recently been adding to my taxable. In February, I added a 30% bond allocation without realizing the tax consequences. I guess I will have to sell the bonds, le...
by cherijoh
Sun Apr 22, 2018 10:13 am
Forum: Investing - Help with Personal Investments
Topic: Best Alternative to a Pension (DB )
Replies: 12
Views: 921

Re: Best Alternative to a Pension (DB )

This would come close, but normally you would not receive the same benefit from a SPIA that you would from a DB. It would cost more to get the same benefit with a SPIA. The fact that it would be more expensive doesn't negate the fact that a SPIA would be the best alternative to a DB pension. You ca...
by cherijoh
Sun Apr 22, 2018 9:51 am
Forum: Investing - Help with Personal Investments
Topic: I am 62 year old with no bonds now. Need advice please.
Replies: 13
Views: 2050

Re: I am 62 year old with no bonds now. Need advice please.

I had all my 401K in bonds for 4 years at the advise of a financial advisor. I left this advisor for some other reason. I didn't think this was a wise investment since there is so little growth and I was not taking advantage of tax savings. My 401K advisor agreed so I asked him to put together a st...
by cherijoh
Sun Apr 22, 2018 9:45 am
Forum: Personal Consumer Issues
Topic: AAA? What to do in car emergencies?
Replies: 64
Views: 2921

Re: AAA? What to do in car emergencies?

We've stopped even trying to reach our insurer's "roadside" (or driveway!) "help". :happy I have had my battery die in my garage twice. One the first occasion, it was the weekend and i was on my way to the grocery store. So I went back in the house called AAA - they always ask if you are stranded o...
by cherijoh
Sun Apr 22, 2018 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Updated w2 from 2013-2017
Replies: 6
Views: 508

Re: Updated w2 from 2013-2017

I would like your suggestions on this My employer just discovered that my pay was wrong for the last 5 years (gov't). :oops: I ended up getting a cumulative check for a net of $600 after taxes. I figure they will just add this to my 2018 earnings until I got the updated W2s for those years. :shock:...
by cherijoh
Sun Apr 22, 2018 9:16 am
Forum: Personal Consumer Issues
Topic: AAA? What to do in car emergencies?
Replies: 64
Views: 2921

Re: AAA? What to do in car emergencies?

But as I was driving on the highway, I realized that, without my husband, I have no clue what to do if I have a flat or a breakdown or an accident. Is AAA still the thing to do? AAA is an expensive and bad idea. 30 yrs ago they were the only game in time and people are stuck in old habits. Any auto...
by cherijoh
Sat Apr 21, 2018 3:04 pm
Forum: Personal Consumer Issues
Topic: Relationship between Housing prices and wages
Replies: 3
Views: 552

Re: Relationship between Housing prices and wages

You might be interested in the Housing affordablity index which compares median home prices and median salaries and factors in the prevailing interest rates. It assumes a 20% down payment and then looks at how the house payment compares to cash flow assuming some maximum % towards a house payment - ...
by cherijoh
Sat Apr 21, 2018 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage payment frequency - Monthly vs. Weekly
Replies: 15
Views: 1795

Re: Mortgage payment frequency - Monthly vs. Weekly

Hello everyone. I've read that in the long run, you will save in interest and pay off your home quicker if you make weekly (or bi-weekly) mortgage payments... rather than just making your payment on the first of each month. Is this still a good move, even if you do not have a Daily Simple Interest ...
by cherijoh
Sat Apr 21, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Settlement Offer -- Accept or Wait?
Replies: 64
Views: 4472

Re: Settlement Offer -- Accept or Wait?

Have you contacted your insurance company? When I was rear-ended and my car was totaled, my insurance company paid my claim and then went after the at-fault driver's insurance for reimbursement. (I forget what this is called, but it is a common practice). I was told that I could still make claims fo...
by cherijoh
Sat Apr 21, 2018 7:38 am
Forum: Investing - Theory, News & General
Topic: NYT article: Everyone should hire a financial planner
Replies: 97
Views: 7188

Re: NYT article: Everyone should hire a financial planner

"What is the correct weight..." suggests to me that you think that there is a specific answer that can be known in advance. Whatever gave you that idea? IMO there are some answers that are definitely wrong (like performance chasing and buying at a peak and panic selling at a low), but there are a r...
by cherijoh
Fri Apr 20, 2018 8:23 pm
Forum: Investing - Theory, News & General
Topic: NYT article: Everyone should hire a financial planner
Replies: 97
Views: 7188

Re: NYT article: Everyone should hire a financial planner

Why do you need state of the art? There is real value in letting go of that requirement since investing results don't yield to the pursuit of expertise. It's fine if it's your hobby, or you have a complicated business or estate but the discussion is whether everyone should hire a financial planner....
by cherijoh
Fri Apr 20, 2018 3:53 pm
Forum: Personal Consumer Issues
Topic: New retirees: so whatdayathink ?
Replies: 76
Views: 7366

Re: New retirees: so whatdayathink ?

I'm several months away, but I use the analogy of a racehorse standing just behind the starting gate at the Kentucky Derby. All I can do is look across to the other side as I impatiently wait for the gun to sound off. I spent the week at a mandatory work related conference. I could not focus, it wa...
by cherijoh
Fri Apr 20, 2018 3:36 pm
Forum: Personal Consumer Issues
Topic: Refund on Extended Service Contract?
Replies: 8
Views: 499

Re: Refund on Extended Service Contract?

In my state you have only 3 days to rescind these things by law.
by cherijoh
Fri Apr 20, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Online Banking Question
Replies: 9
Views: 475

Re: Online Banking Question

I have used USAA exclusively as my bank and provider of insurance for the past 5 years. I currently have a checking and savings account, credit card, renters, car and umbrella insurance policy - all through USAA. I'm now finishing medical training and will be saving aggressively for a home downpaym...
by cherijoh
Fri Apr 20, 2018 11:18 am
Forum: Personal Consumer Issues
Topic: New car hit accident - loss of dimished value
Replies: 27
Views: 2109

Re: New car hit accident - loss of dimished value

Hi Thanks for looking out and giving suggestion. My one month old 2018 CRV EX AWD with just 1000 miles got rear ended by another car. No air bag deployed and other car got totalled. Since we both are in same insurance, fixing my car is not much pain and insurance/body shop gave life time warranty f...
by cherijoh
Fri Apr 20, 2018 10:21 am
Forum: Investing - Help with Personal Investments
Topic: Early Retirement - On the fence, need sanity check
Replies: 53
Views: 8712

Re: Early Retirement - On the fence, need sanity check

Retirement approved. +1. The way your pension is set up, you either have the pension or SS taking care of $50K. That means you need about 25 X $25K = $625K to support the balance of your expenses. You have that plus an extra $100K. $75K also sounds like a budget that likely has some flexibility. Co...
by cherijoh
Wed Apr 18, 2018 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 106
Views: 10838

Re: Quitting job - what to do if getting walked to the door

In many years as a manager at a large technology company I have never walked anyone the same day nor have I seen anyone getting walked to the door the same day even if they went to a direct competitor (which is very common). So it very much depends on the company. I have also never understood what ...
by cherijoh
Wed Apr 18, 2018 5:39 pm
Forum: Investing - Help with Personal Investments
Topic: need advice on retired mom's ira account
Replies: 10
Views: 596

Re: need advice on retired mom's ira account

She has to begin taking distributions (RMDs) at age 70.5 on a traditional IRA. Any money moved to a Roth isn’t subject to RMDs. Suggest that you do a search on “inherited Roth IRA.” If you inherit one, you’ll have to take withdrawals but not pay taxes as long as the Roth is 5 years old. There does ...
by cherijoh
Wed Apr 18, 2018 5:32 pm
Forum: Investing - Help with Personal Investments
Topic: need advice on retired mom's ira account
Replies: 10
Views: 596

Re: need advice on retired mom's ira account

I need your advice on my mom's retired IRA account. She doesn't need the money, she is 69 years old, its a traditional IRA . She has about 300K in traditional IRA money. She has enough in pension and social security money and wants to ultimately leave the money to her children (me and bro). We don'...
by cherijoh
Wed Apr 18, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes Question -- Help!
Replies: 14
Views: 920

Re: Estimated Taxes Question -- Help!

...so now I have a major mess on my hands. Do you really have a "major mess" or is the only problem that you didn't know estimated payments were made April, June, September and January? I would think you could somehow adjust your cash flow or borrow from Peter to pay Paul in order to make the four ...
by cherijoh
Wed Apr 18, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

I came up with the 6% based off half of this https://www.daveramsey.com/blog/the-12-reality And finding other data that seemed to reflect 8/10 average per year on average over time. Definitely realize that there are terrible times in the market. We are probably heading into one sometime in the next...
by cherijoh
Wed Apr 18, 2018 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

OP- Do it brother! I retired at age 42. Fortunately I didn't ask for advice- I'm sure I would've been told to keep working. My net worth has nearly tripled since I retired 9 years ago. Work sucks- don't wait until you're old to enjoy your money. So you retired near the beginning of a really long bu...
by cherijoh
Wed Apr 18, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

2.8 Mil? Yup. I sure as heck would give it a run. Try and live off of 80k a year and spend some time with the family. Love the folks who claim it's impossible to support a family of 5 on a $2.8 Mil best egg. I guess we all need someone paying into social security to keep it afloat. There is a big d...
by cherijoh
Wed Apr 18, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

Mid-life crisis. I'm there too. Find another position or scale back. Thank goodness your wife works for the school system? She should have a group health policy? My wife is a teacher and we do. It isn't the OP whose wife is a school teacher. OP hasn't said anything about his wife currently working ...
by cherijoh
Wed Apr 18, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 145
Views: 13467

Re: Can I retire at age 40?

work the stock market for my future finances. (Aka new job) We've been in a mostly bull market environment for the past 9 years. So sure, you've had a lot of winners. Are you ready for a bear market? The reason we say 3% or 4% is because a good chunk of your money should be in bonds or CDs to weath...
by cherijoh
Wed Apr 18, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Corporate Leveling
Replies: 22
Views: 2408

Re: Corporate Leveling

I’ve worked for several places where corporate leveling has happened. Never heard of anyone being offered a pay cut, though. Usually, pay grades have really wide salary bands, so they slot you where you fit and leave your salary the same. If you get slotted into a grade where your salary is near th...
by cherijoh
Wed Apr 18, 2018 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Tax day come and gone.....
Replies: 29
Views: 2920

Re: Tax day come and gone.....

My wife and I are deciding if we should consult with a CPA/Tax specialist based on the change in our income as well as tax efficiencies and AMT. We aren't sure if we really have any options to be more tax efficient- hence the hesitation to spend money with above specialist I believe the below is pe...
by cherijoh
Wed Apr 18, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 106
Views: 10838

Re: Quitting job - what to do if getting walked to the door

I can't say for your situation. I'll tell you about mine. I verified our health insurance was covered through the end of the month as long as you are insured on the first. I talked to the health insurance company, not HR. I made sure I was up to date on all my prescriptions. I stayed late on a Frid...
by cherijoh
Wed Apr 18, 2018 7:24 am
Forum: Investing - Theory, News & General
Topic: Your Money Or Your Life
Replies: 49
Views: 6543

Re: Your Money Or Your Life

I was scrolling through the internet today & found a article that the Bogleheads should really enjoy. Your Money Or Your Life & All The Flavors Of Fire. (Financial Independence Retire Early). This is what started it all for me. I hope you enjoy the article. Your looking at the future.... https://ww...
by cherijoh
Wed Apr 18, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Corporate Leveling
Replies: 22
Views: 2408

Re: Corporate Leveling

I’ve worked for several places where corporate leveling has happened. Never heard of anyone being offered a pay cut, though. Usually, pay grades have really wide salary bands, so they slot you where you fit and leave your salary the same. If you get slotted into a grade where your salary is near th...
by cherijoh
Tue Apr 17, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Can I *not* claim all the state tax in my itemized deduction?
Replies: 39
Views: 4036

Re: Can I *not* claim all the state tax in my itemized deduction?

As I understand the question, the OP doesn't want to claim all the non-business deductions to which he is lawfully entitled. Numerous responders have said, "No, that is illegal! You must claim all your [non-business] deductions." I'm here to say that is nonsense. If I donate $10k to charity and cho...
by cherijoh
Mon Apr 16, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Can I *not* claim all the state tax in my itemized deduction?
Replies: 39
Views: 4036

Re: Can I *not* claim all the state tax in my itemized deduction?

I'm using TaxAct. Normally each year, the software will claim all of the state tax I've paid (on my W-2) as itemized deduction in my 1040. But after filing state income tax, usually there will be some refund, and next year, they'll send me a form saying "this is how much state tax you've been refun...
by cherijoh
Mon Apr 16, 2018 1:16 pm
Forum: Investing - Theory, News & General
Topic: Higher bond allocations with riskier bonds
Replies: 10
Views: 544

Re: Higher bond allocations with riskier bonds

Why bother? If simplicity is the goal, why not have a portfolio that's 50% stocks and 50% long-term treasury bonds? Nice and simple, and has performed well over the past 30 years (vs. the same 70/30 portfolio with intermediate-term bonds as shown in the first post — the 50/50 portfolio is in red be...
by cherijoh
Sun Apr 15, 2018 12:58 pm
Forum: Personal Consumer Issues
Topic: Dealing with poorly assigned hotel rooms?
Replies: 41
Views: 3121

Re: Dealing with poorly assigned hotel rooms?

Not sure what you expect management to do if there are no rooms left. Evict the offenders, with the help of hotel security and/or the police. Always book a top floor - for that you may need to check in as soon as possible. Show up at 6 pm and your options are limited. Most hotels are so cheaply con...
by cherijoh
Sat Apr 14, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: 1040 goes into the ether. what now?
Replies: 21
Views: 1633

Re: 1040 goes into the ether. what now?

I do my taxes by hand and then mail them in with tracking. For the first time in like 50 years, the post office has apparently sent the return into the ether. It left Salt Lake on its way to the IRS at Ogden, and then the tracking number says delayed, every day for numerous days. Looking on the web...