Search found 913 matches

by jon-nyc
Tue Jul 19, 2022 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Confirm my understanding about bonuses and taxes
Replies: 3
Views: 607

Confirm my understanding about bonuses and taxes

My understanding is that the IRS has special rules about withholding rates for ‘Supplemental Income’ such as bonuses. However, the money is still ultimately taxed as part of wage income, so it isn’t actually subject to higher income tax rates. (Assuming of course the bonus didn’t put you in a different bracket).

So, again assuming no bracket change, the net pay one receives when they get, say, a 5k bonus should be the same as if they had received that same 5k as a pay raise.

Can anyone confirm my understanding or disabuse me of my errors?


Thanks in advance.
by jon-nyc
Tue Jan 01, 2019 3:56 pm
Forum: Investing - Theory, News & General
Topic: Will you contribute the max to your IRA and then invest it all in equities for the first market day of the new year?
Replies: 160
Views: 12610

Re: Will you contribute the max to your IRA and then invest it all in equities for the first market day of the new year?

I initiated the purchases today, 7k in each of mine and my wife's IRA. I also initiated the max (deductible in NYS) contribution on my 529 today, another 10k.
by jon-nyc
Fri Jan 26, 2018 6:54 am
Forum: Investing - Theory, News & General
Topic: Bitcoin bubble ending with a flat top rather than a sharp drop?
Replies: 33
Views: 3568

Re: Bitcoin bubble ending with a flat top rather than a sharp drop?

“Stocks appear to have reached a permanently high plateau”

- Irving Fischer, October 16th, 1929
by jon-nyc
Mon Jan 15, 2018 8:32 pm
Forum: Investing - Theory, News & General
Topic: Nostalgic about old online brokerages that no longer exist
Replies: 43
Views: 8131

Re: Nostalgic about old online brokerages that no longer exist

alpenglow wrote: Sun Jan 14, 2018 2:30 pm I worked for the trading arm of Datek Online. Ah, the good old days. :moneybag
I worked for Waterhouse securities. As a consultant. I was there when TD was sniffing around and when they bought them.
by jon-nyc
Wed Dec 13, 2017 1:31 pm
Forum: Investing - Theory, News & General
Topic: Accelerating deductions into 2017
Replies: 5
Views: 1096

Re: Accelerating deductions into 2017

CAsage wrote: Wed Dec 13, 2017 11:58 am Beat to death, and also explored well, in depth, etc:

viewtopic.php?f=2&t=233726
Thanks. Out of habit I tend to stay in this sub forum, so I totally missed it.
by jon-nyc
Wed Dec 13, 2017 11:56 am
Forum: Investing - Theory, News & General
Topic: Accelerating deductions into 2017
Replies: 5
Views: 1096

Accelerating deductions into 2017

Lets say you were interested in accelerating certain deductions from 2018 and even future years into this year. Please, lets not talk about why you might you might want to do that, as that would likely violate the forum rules. For the sake of this thread, just take it as a given that someone might want to do that. What are the possibilities and the constraints around each one? Three come to mind immediately: 1) State Income Tax - If you were scheduled to make a quarterly estimated payment on January 15th, it would be a no brainer to accelerate that into December. To my knowledge there's no way to front load this beyond the 2017 tax liability itself, since you have to add any overpayment refund or credit back as income in the following year....
by jon-nyc
Sat Nov 11, 2017 6:17 pm
Forum: Investing - Theory, News & General
Topic: Do you keep anything in your portfolio as a monument to your bad decisions?
Replies: 69
Views: 7564

Re: Do you keep anything in your portfolio as a monument to your bad decisions?

bob60014 wrote: Fri Nov 10, 2017 8:06 am My GE stock is getting close to that point! :(
Ha - GE is the only single stock in my portfolio. I bought in in 09, so the capital gains have prevented me from selling it. Based on advice from this forum, I decided several years ago to transfer it over time to a donor advised fund. So unfortunately the losses on the part I've yet to transfer are 'really' hitting my favorite charities.
by jon-nyc
Fri Jan 01, 2016 1:57 pm
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 5249
Views: 899970

Re: What are you up YTD? [Year To Date]

0.5% for the year, according to XIRR.
by jon-nyc
Sun May 17, 2015 5:45 am
Forum: Investing - Theory, News & General
Topic: Best Asset Allocation if you've "won the game"
Replies: 86
Views: 25094

Re: Best Asset Allocation if you've "won the game"

Van wrote:It depends on how much you have won by. If you are just a bit above the winning point, that is one thing, and, if you are way, way above the amount you can conceivably think you will ever need, that is another.

For the former, maybe 50/50 or 40/60 makes sense, but, for the later, 10/90 or 20/80 could be an adequate, stress-free allocation.

I have a different view. If you've won by a little, decrease your risk. If you've won by a lot, then you're really investing for the next generation so your timeframe and risk appetite expand accordingly.
by jon-nyc
Mon Apr 27, 2015 4:51 pm
Forum: Investing - Theory, News & General
Topic: iBond partial redemption question
Replies: 6
Views: 1143

Re: iBond partial redemption question

Thanks for the replies, all.
by jon-nyc
Mon Apr 27, 2015 3:24 pm
Forum: Investing - Theory, News & General
Topic: iBond partial redemption question
Replies: 6
Views: 1143

iBond partial redemption question

My assumption is, if you partially redeem an iBond, you are considered to have withdrawn principal and interest in proportion to what the makeup of the total bond balance is. In other words, say you had a 10k bond with 5k of interest accrued, so the balance is 15k. You redeem 3k. I assume it is considered to be 2k of principal, and 1k of interest upon which you'd owe tax (or not, depending on whether you used it for a qualified educational expense).

Can someone confirm that my understanding is accurate?

And does Treasury cut you a 1099-int at the end of the year?
by jon-nyc
Thu Mar 26, 2015 11:01 am
Forum: Personal Consumer Issues
Topic: Proactively replace water heater?
Replies: 54
Views: 12369

Re: Proactively replace water heater?

Ive had two different home inspectors say that, around here anyway, water heaters tend to last around 10 years. I moved in to a house with one that was 10 years old. I fully intended to swap it out before it went.

Then it went before i got around to it.

On thanksgiving night, when i had 6 overnight guests.

From now on i'll be a vigilant proactive replacer.
by jon-nyc
Wed Jan 21, 2015 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Deleted
Replies: 76
Views: 10492

Re: I'm thinking about making very large 529 contributions A

Mine will be smaller than usual. It's kind of full already. So I won't go beyond the 10k that the state of NY subsidizes.
by jon-nyc
Thu Jan 01, 2015 12:41 pm
Forum: Investing - Theory, News & General
Topic: [Annual POLL] What was your 2014 return?
Replies: 144
Views: 22707

Re: [Annual POLL] What was your 2014 return?

I got 7.38% using XIRR.


I'll take it.
by jon-nyc
Mon Dec 29, 2014 7:26 pm
Forum: Investing - Theory, News & General
Topic: Bond fund holding period to guarantee known Yield
Replies: 16
Views: 2332

Re: Bond fund holding period to guarantee known Yield

No such guarantee exists.

at least theoretically all the bonds could default right after you buy the fund.
by jon-nyc
Wed Nov 12, 2014 8:47 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239034

Re: If your networth is over $3 million, how did you do it?

I wasn't born to rich parents, far from it, but they valued education and the house was swarming with books. Lots of traits that help you do well in life also have reasonably high heritability (e.g. Intelligence, time preference, etc). So you can be part of the lucky sperm club even if your parents were regular middle class folks.
by jon-nyc
Wed Nov 12, 2014 8:14 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239034

Re: If your networth is over $3 million, how did you do it?

Grt2bOutdoors wrote:
jon-nyc wrote:High salary, LBYM, a fortuitous IPO at a young age, and Boglehead investing.
Or as Dandy says - Luck. Good for you. :sharebeer
Plenty of luck involved, of course. Starting with being born to the right parents in the right place at the right time, all the way through surviving 9-11 because of a scheduling conflict. And no doubt 1000 other things as well.
by jon-nyc
Wed Nov 12, 2014 7:21 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239034

Re: If your networth is over $3 million, how did you do it?

High salary, LBYM, a fortuitous IPO at a young age, and Boglehead investing.
by jon-nyc
Tue Nov 11, 2014 7:27 am
Forum: Investing - Theory, News & General
Topic: Fannie Mae and Freddie Mac, how did they finance?
Replies: 2
Views: 1064

Re: Fannie Mae and Freddie Mac, how did they finance?

azumz wrote:Hey everyone,

I understand the Fannie Mae and Freddie Mac bought mortgages from banks to open up credit in the market. But where did they get the $ to do so? I read that they get the $ by repackaging the mortgages and selling them out to other people, but I dont really know what that means. If someone can explain it, that would be great.

Thanks!
In general, it means selling bonds on which interest and principal payments are tied to payments made on the underlying mortgages.
by jon-nyc
Mon Nov 03, 2014 1:42 pm
Forum: Investing - Theory, News & General
Topic: iBonds at zero % fixed
Replies: 84
Views: 13173

Re: iBonds at zero % fixed

Fortunately I maxed out my 2014 purchases when it was at 0.2%. And half of 2013s allocation as well. I feel lucky to have 30k worth at that amount.
by jon-nyc
Mon Nov 03, 2014 11:06 am
Forum: Investing - Theory, News & General
Topic: iBonds at zero % fixed
Replies: 84
Views: 13173

iBonds at zero % fixed

I guess that's no surprise.

http://www.treasurydirect.gov/news/pres ... atespr.htm

(forgive me if there's a thread on this already, I didn't see one)
by jon-nyc
Fri Oct 03, 2014 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Assistance with Medicare costs for lowish income seniors
Replies: 13
Views: 2207

Re: Assistance with Medicare costs for lowish income seniors

Thanks for all this info. There's a lot for me to investigate. I wish there was a consultant I could hire to do this... does anyone know?

(FWIW, my in-laws are in PA, not NY)
by jon-nyc
Tue Sep 30, 2014 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Assistance with Medicare costs for lowish income seniors
Replies: 13
Views: 2207

Assistance with Medicare costs for lowish income seniors

Hi All - I'm in the process of trying to help my in-laws out of some ongoing financial difficulties. They spend an extraordinary percentage of their gross income on Medigap coverage, Medicare Part D premiums, and out of pocket drug expenses. I'm trying to see what I can find in terms of less expensive plans, but I'm not sure if I'll be able to get the total expense down that much. One obvious potential solution would be Medicaid. But by the looks of these criteria, their income will be too high to qualify: http://www.medicaid.gov/Medicaid-CHIP-Program-Information/By-Population/Medicare-Medicaid-Enrollees-Dual-Eligibles/Seniors-and-Medicare-and-Medicaid-Enrollees.html (their income is a tad under 3k/mo) Is there something i'm missing? I shou...
by jon-nyc
Tue Sep 23, 2014 6:23 pm
Forum: Personal Consumer Issues
Topic: Binoculars appropriate for a 6-year-old?
Replies: 11
Views: 1689

Re: Binoculars appropriate for a 6-year-old?

Hmmm.... Maybe a nice holiday gift for my 5 year old.
by jon-nyc
Sun Sep 14, 2014 6:26 am
Forum: Personal Consumer Issues
Topic: Recommended World War I book
Replies: 56
Views: 7132

Re: Recommended World War I book

In terms of the war's aftermath, I think there is no greater work than Paris 1919: Six months that changed the world by Margaret Macmillan. (She happens to be the great granddaughter of Lloyd George, FWIW).
by jon-nyc
Sun Sep 14, 2014 6:17 am
Forum: Personal Consumer Issues
Topic: Recommended World War I book
Replies: 56
Views: 7132

Re: Recommended World War I book

DesertResister wrote:
gkaplan wrote:Barbara Tuchman's The Guns of August
This is an outstanding book.

I think that particular book of hers is horribly overrated.

Even the abridged version of Churchill's WWI memoir offers a far superior treatment of the events leading up to the war.
by jon-nyc
Mon Aug 11, 2014 5:39 pm
Forum: Personal Consumer Issues
Topic: Dealership wants to buyback my car
Replies: 32
Views: 7056

Re: Dealership wants to buyback my car

I bought a new car last year. About 3 weeks later I got that same letter, except it seems to have been spit out of their computer in error. In place of '2013 Fit' it said '[year, model]' and in place of my name was '[customer name]'.
by jon-nyc
Sun Aug 10, 2014 5:19 am
Forum: Personal Consumer Issues
Topic: How do you address your inlaws and being addressed?
Replies: 84
Views: 9235

Re: How do you address your inlaws and being addressed?

I call my MIL by her first name. Other appellations come to mind, but would get me in trouble.
by jon-nyc
Sat Jun 28, 2014 10:37 am
Forum: Personal Consumer Issues
Topic: Health insurance coverage question
Replies: 2
Views: 510

Health insurance coverage question

For two years or so, my wife and I each had family healthcare plans provided by our respective employers, paid for partially by payroll deductions. They were two distinct plans from two distinct national carriers, each covered the entire family. (ignore for now the fact that we wasted money on duplicate coverage) I believe its the case that I should have used my carrier as primary and hers as secondary, and she should have used her plan as primary and mine as secondary. However, we were a bit more loose than that - my plan had a $0 copay so my wife tended to just use it, rather than use hers to its max and mine to cover the difference. Also, I had a very expensive treatment for a chronic condition that I charged to her plan for several mont...
by jon-nyc
Mon Jun 09, 2014 4:27 pm
Forum: Investing - Theory, News & General
Topic: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?
Replies: 59
Views: 7073

Re: 30 Yr TIPS auction 6/19: 1.25% real yield? any takers?

To the original question, I got my fill in February, like a always do. Last year that hurt me, this year it is helping so far.
by jon-nyc
Mon Jun 09, 2014 7:06 am
Forum: Personal Consumer Issues
Topic: Replacement checks?
Replies: 29
Views: 3334

Re: Replacement checks?

denovo wrote:
jon-nyc wrote:I just ordered 1000 checks for 30.45 at Costco. (costcochecks.com) It incuded tax and shipping.

Much cheaper than the other options.
Dang, that's a lot of checks. I think a 1000 checks would last me about 50 years.

I think i'll get 15 or so out of it at my current rate. But by then maybe we'll finally have a 21st century paymen system in place with universal acceptance. I'm hoping i never order checks again.
by jon-nyc
Fri Jun 06, 2014 10:57 am
Forum: Personal Consumer Issues
Topic: Replacement checks?
Replies: 29
Views: 3334

Re: Replacement checks?

I just ordered 1000 checks for 30.45 at Costco. (costcochecks.com) It incuded tax and shipping.

Much cheaper than the other options.
by jon-nyc
Fri Jun 06, 2014 5:12 am
Forum: Personal Consumer Issues
Topic: Replacement checks?
Replies: 29
Views: 3334

Re: Replacement checks?

Thanks for all the suggestions, everyone.
by jon-nyc
Wed Jun 04, 2014 10:37 am
Forum: Personal Consumer Issues
Topic: Replacement checks?
Replies: 29
Views: 3334

Replacement checks?

Yeah, yeah, I know... 'what's a check?'

Well, I write quite a few. And I need more.

Obviously I don't care what they look like, I just want to buy them cheap and in quantity.

Any recommendations?
by jon-nyc
Tue May 27, 2014 9:14 am
Forum: Personal Consumer Issues
Topic: NYC for the day… what to do with the car
Replies: 18
Views: 2035

Re: NYC for the day… what to do with the car

Tarrytown is a better option than White Plains if for no other reason than the train ride has fabulous scenery. The train goes right along the Hudson, with a view of the Pallisades. You will have no problem parking on weekends.
by jon-nyc
Fri Apr 11, 2014 7:20 pm
Forum: Personal Consumer Issues
Topic: heartbleed - widespread internet security problem
Replies: 175
Views: 39060

Re: heartbleed - widespread internet security problem

The folks at xkcd did this cartoon to explain how the bug works.


http://xkcd.com/1354/
by jon-nyc
Tue Apr 08, 2014 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Do I take the separation package offer?
Replies: 52
Views: 8678

Re: Do I take the separation package offer?

If you don't say yes to this I'm going to disguise myself as you, go into your boss' office, and say yes for you.
by jon-nyc
Sat Mar 29, 2014 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 101613

Re: What age did you reach 100K networth?

cflannagan wrote:A lot of 20's.

Did they all account for mortgages, student loans, auto loans, etc when calculating net worth?

I did. I had no mortgage, no student loans, and no auto loans at the time. Just assets.
by jon-nyc
Thu Mar 27, 2014 7:14 pm
Forum: Investing - Theory, News & General
Topic: IRS: bitcoins are property for tax purposes in U.S.
Replies: 28
Views: 5250

Re: IRS: bitcoins are property for tax purposes in U.S.

Examples of payment systems that are not US fiat, widely used already in the US, include: gift cards, paypal, frequent flier miles. People figure out how to charge & get paid in these ways, presumably not just for illicit activities (I've never heard of anyone selling dime bags for United miles :)). I wouldn't put paypal in the same category. It's a method of paying in dollars, there are no units of paypal that might be worth one dollar amount one day and another the next. Gift cards are denominated in dollars, though as a medium of exchange they'd be discounted since they can only be redeemed in limited places. Now you're left with frequent flier miles. Ok, they are 'widely used' but are as a 'payment system' they represent an infinit...
by jon-nyc
Thu Mar 27, 2014 2:07 pm
Forum: Investing - Theory, News & General
Topic: IRS: bitcoins are property for tax purposes in U.S.
Replies: 28
Views: 5250

Re: IRS: bitcoins are property for tax purposes in U.S.

Random Musings wrote:The biggest question is who is going to track all of this? The exchanges? The individual? Companies that take it in exchange for other goods and services?

If it is truly not a form of "cash", it would make me hesitiate to accept it as a form of payment.

RM

To your first point, I assume it's all traceable in the blockchain. Even by the IRS.


To your second point, this ruling means bitcoins are not fungible in the US. That would make it impractical to use it as a payment system here, except illicitly.
by jon-nyc
Tue Mar 11, 2014 8:36 am
Forum: Personal Consumer Issues
Topic: Anti-virus for Mac?
Replies: 80
Views: 7782

Re: Anti-virus for Mac?

How do you know if you have a virus? It hurts when you type 'P'.


Seriously, though, thanks for the recommendations and comments all.
by jon-nyc
Sun Mar 09, 2014 12:43 pm
Forum: Personal Consumer Issues
Topic: Anti-virus for Mac?
Replies: 80
Views: 7782

Anti-virus for Mac?

There have been previous threads on this but given the speed with which technology changes I thought I'd start another to get some more recent input.

What anti-virus or anti-malware programs can you recommend for the Mac? Our Macs have always gone bareback here but my wife's been nervous lately after getting a 'we detected suspicious activity' message from gmail.
by jon-nyc
Sat Mar 08, 2014 4:43 am
Forum: Investing - Theory, News & General
Topic: How do discount brokers make money from passive investors?
Replies: 19
Views: 6711

Re: How do discount brokers make money from passive investor

This reminds me of a story from years ago - a friend of mine was a trader in a small regional brokerage. They would berate the research guys over their 'hold' recommendations. His line was 'I've got buy and sell tickets, but I don't have any hold tickets'. (This was before automation so there really were tickets)
by jon-nyc
Fri Mar 07, 2014 5:57 pm
Forum: Investing - Theory, News & General
Topic: How do discount brokers make money from passive investors?
Replies: 19
Views: 6711

Re: How do discount brokers make money from passive investor

Securities lending. But it wouldn't be much. Then again, a passive investor shouldn't cost them much either.
by jon-nyc
Fri Mar 07, 2014 9:45 am
Forum: Personal Finance (Not Investing)
Topic: What was your dumbest financial decision?
Replies: 173
Views: 25545

Re: What was your dumbest financial decision?

Man you guys are all pretty dumb. To think I thought the Boglehead crowd was smart. :happy


(totally kidding)
by jon-nyc
Thu Mar 06, 2014 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Question re deductions for cap gains on residence
Replies: 6
Views: 586

Re: Question re deductions for cap gains on residence

My gain was in the 7 figures - a decade of Brooklyn gentrification was very very good to me.


I know, I know - first world problems. :)