Search found 1475 matches

by Carl53
Tue Jan 16, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Withholding Tables
Replies: 88
Views: 10906

Re: IRS announces new withholding tables for 2018

Trying to make sure I am figuring this right. Income of around $95,000 Married filing jointly Pre-Tax Payments of $22,500 ($18,500 to 403b, $4,000 in insurance premiums) Standard Deduction of $24,000 Taxable income ends up at $47,725 Tax liability is $5,346.02 Two child credits Tax bill of $1,346.0...
by Carl53
Mon Jan 15, 2018 7:03 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Critique for my Father
Replies: 16
Views: 1941

Re: Retirement Critique for my Father

If the pension and taxable income are additive, then they will be subject to some limitations on making IRA contributions. Also, when they take medicare *age 65', there are some thresholds of income that they apparently over with pension and taxable that will push up the medicare premiums. Beware th...
by Carl53
Mon Jan 15, 2018 5:48 am
Forum: Personal Consumer Issues
Topic: Are land line phones still being supported?
Replies: 60
Views: 3622

Re: Are land line phones still being supported?

I live in a rural area that has poor cellphone service. Consequently, I kept my land line telephone until last year. Verizon sold their land lines to Frontier Communications in my area. Frontier Communications is the worst service company that I have ever dealt with. My service had so much static t...
by Carl53
Fri Jan 12, 2018 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: 26, have a job, now what?! Seeking advice!
Replies: 43
Views: 2035

Re: 26, have a job, now what?! Seeking advice!

Wow, PMI is the pits! I guess for my specific situation, (wanting to get out of my 500 sq ft appt) my options are to move into a bigger rental (increasing my monthly bills by 800-1500 in rent/utilities) or just buy a place and pay that extra on property taxes, PMI and mortgage interest. We would st...
by Carl53
Fri Jan 12, 2018 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: 26, have a job, now what?! Seeking advice!
Replies: 43
Views: 2035

Re: 26, have a job, now what?! Seeking advice!

Be sure to have a full 20% down payment on the home when you go for it. Otherwise you will be paying for PMI (private mortgage insurance for the lender), a waste of money. I thought this as well, but what about the following scenario. I want to buy within 2 years. Assuming I plan to buy and stay in...
by Carl53
Fri Jan 12, 2018 7:30 am
Forum: Investing - Help with Personal Investments
Topic: 26, have a job, now what?! Seeking advice!
Replies: 43
Views: 2035

Re: 26, have a job, now what?! Seeking advice!

*edited for formating 1/12/18 This is my first time replying in one of these forums, hopefully I am doing this right First, I just want to thank you for taking the time to read through and respond to my portfolio, your responses were very attentive, kind, and helpful! My responses are below: You co...
by Carl53
Thu Jan 11, 2018 8:43 am
Forum: Investing - Help with Personal Investments
Topic: WSJ: Discount Brokers Win Bonuses to Push Costlier Products
Replies: 38
Views: 3130

Re: WSJ: Discount Brokers Win Bonuses to Push Costlier Products

Vanguard does not want to make money. Of course Vanguard wants to make money. The people running the company want to be paid, and they want to invest in their operations and expand their reach. They want to make money so they can lower the cost of their funds, attract more investors, and in that wa...
by Carl53
Wed Jan 10, 2018 9:42 am
Forum: Personal Consumer Issues
Topic: Early Retirement Incentive Plan is generating paranoia in a co-worker
Replies: 37
Views: 4495

Re: Early Retirement Incentive Plan is generating paranoia in a co-worker

My employer offered several rather generous severance packages over my last twenty years. I never bit on them as always viewing that I needed a bit more. The last one prior to my retirement (without any severance package), was the most generous. I could have received nearly a years pay and had a cou...
by Carl53
Wed Jan 10, 2018 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Is it a bad idea to have TIPs in Roth IRA?
Replies: 12
Views: 983

Re: Is it a bad idea to have TIPs in Roth IRA?

We only have acquired individual TIPs a couple of times. The first was a new issue in 2011, for over 2% real, in a Roth account. Bought with intent to keep long term, it was sold two years later after gaining more than 60% in value. Some other Bogleheads were talking about selling theirs, and we tal...
by Carl53
Tue Jan 09, 2018 12:27 pm
Forum: Personal Consumer Issues
Topic: 2006 subaru timing belt replacement
Replies: 37
Views: 1163

Re: 2006 subaru timing belt replacement

I have a 2006 subaru forester with 72,000 miles. The timing belt is starting to show signs of age so im going to have it replaced...along with water pump, tensioner and idler bearings (not really sure if everything needs replaced by while the mechanic is in there its just easier to do it all at onc...
by Carl53
Mon Jan 08, 2018 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 6897

Re: Lowball offer on a home

We offered 100k on our home which was listed at 139k back in 1989. Turned down flat. Realtor came back two months later asking if we would come back with a higher offer. Closed at 109k. House only needed painting to suit.
by Carl53
Mon Jan 08, 2018 5:43 am
Forum: Personal Finance (Not Investing)
Topic: Question about finding the best mortgage loan?
Replies: 3
Views: 374

Re: Question about finding the best mortgage loan?

I would look around to know what terms are available.
by Carl53
Mon Jan 08, 2018 5:09 am
Forum: Personal Finance (Not Investing)
Topic: Life at a crossroad: seeking advice
Replies: 54
Views: 6673

Re: Life at a crossroad: seeking advice

Your visa status if you quit is the elephant in the room. Can we assume that your spouse is in a similar situation? Several decades ago my spouse of five years and less than three years into a professional career that already nearly matched my engineering salary of several more years, decided to qui...
by Carl53
Sun Jan 07, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Identity Theft - Social Security Claim & Green Dot Bank Debit
Replies: 13
Views: 1349

Re: Identity Theft - Social Security Claim & Green Dot Bank Debit

I do have a mySSA account, protected with a unique password, fwiw. It did not protect me in this instance, and I have been told by an SSA employee that people can file for benefits online WITHOUT a mySSA account. I have not verified this. https://www.ssa.gov/planners/retire/applying8.html You Can A...
by Carl53
Sun Jan 07, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard ETF S&P 500 as at 1/5/2018
Replies: 24
Views: 1977

Re: Vanguard ETF S&P 500 as at 1/5/2018

I noticed upon logging into my VG account on 12/31 that the total account balance was a certain value. At the close of business on 1/2 I logged in again. Looking at the value portrayed when selecting from the "Balances and Holdings" the value as of 12/29/17, one gets a value about 0.25% lower now be...
by Carl53
Sun Jan 07, 2018 7:05 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio checkup- seeking Boglehead wisdom!
Replies: 4
Views: 668

Re: Portfolio checkup- seeking Boglehead wisdom!

Without any existing TIRA accounts (with deductible contributions), you seem to be in position for backdoor Roths.
by Carl53
Sun Jan 07, 2018 6:49 am
Forum: Personal Finance (Not Investing)
Topic: Identity Theft - Social Security Claim & Green Dot Bank Debit
Replies: 13
Views: 1349

Re: Identity Theft - Social Security Claim & Green Dot Bank Debit

Thanks for the update. Please advise us of new developments. Best wishes.
by Carl53
Sat Jan 06, 2018 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Million Dollar Refi Q
Replies: 12
Views: 1396

Re: Million Dollar Refi Q

Not certain, but I believe doing a refi would run you afoul of the deductibility rules for new mortgages limited to $750k.
by Carl53
Wed Jan 03, 2018 8:43 am
Forum: Personal Consumer Issues
Topic: Frozen Pipes
Replies: 30
Views: 3412

Re: Frozen Pipes

Start by opening up cabinet doors where plumbing may be along cold outer walls to prevent more freezing and possibly thawing what is frozen. Try getting portable electric heat (even a trouble light or two might be enough)near frozen lines. A proactive measure can be Inreal bad cold snaps to let fauc...
by Carl53
Tue Jan 02, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Embarrassment Preventing Retirement Work: A factor for you?
Replies: 131
Views: 11941

Re: Embarrassment Preventing Retirement Work: A factor for you?

I'd rather not look at others choices in what they are doing with their time or circumstances and feel that it means that person is beneath me, no matter what I've previously done.
by Carl53
Tue Jan 02, 2018 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Embarrassment Preventing Retirement Work: A factor for you?
Replies: 131
Views: 11941

Re: Embarrassment Preventing Retirement Work: A factor for you?

My spouse worked elections for the social aspect of it and because they were desperate for poll workers. It seems that not may younger folks were interested. I got pulled into repairing and distributing the election equipment a couple of times a year as once again they could not get anyone else to d...
by Carl53
Tue Jan 02, 2018 8:22 am
Forum: Investing - Theory, News & General
Topic: Roth Conversions without ability to Recharacterize
Replies: 45
Views: 2395

Re: Roth Conversions without ability to Recharacterize

For us, 2018 will be a year to utilize a strategy other than converting to the top of the 15% bracket. Most years we have converted several different different asset categories, keeping the best return. A small working income stream , allowed tweaking via Roth/TIRA contributions prior to filing to ...
by Carl53
Tue Jan 02, 2018 6:52 am
Forum: Investing - Theory, News & General
Topic: Roth Conversions without ability to Recharacterize
Replies: 45
Views: 2395

Re: Roth Conversions without ability to Recharacterize

For us, 2018 will be a year to utilize a strategy other than converting to the top of the 15% bracket. Most years we have converted several different different asset categories, keeping the best return. A small working income stream, allowed tweaking via Roth/TIRA contributions prior to filing to br...
by Carl53
Sun Dec 31, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: What is best tax software for free filing - low income retirees?
Replies: 16
Views: 716

Re: What is best tax software for free filing - low income retirees?

I am a low-income retiree. I use HRBlock with the 5% of refund bonus, so as long as my refund is at least $400, then I get the $20 for HRBlock w/state bonused back to me, so it is free. I run it on my laptop, so one would need a computer to run it. That may be a good idea for next year. Currently t...
by Carl53
Sun Dec 31, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: What is best tax software for free filing - low income retirees?
Replies: 16
Views: 716

Re: What is best tax software for free filing - low income retirees?

They sound like typical clients we see at TaxAide. You might look into sites near them where they can make an appointment and have their taxes done for free by trained volunteers. Thanks. Apparently the locations it would be available at are not listed until later in January. In any case it is diff...
by Carl53
Sun Dec 31, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: What is best tax software for free filing - low income retirees?
Replies: 16
Views: 716

What is best tax software for free filing - low income retirees?

I've helped my inlaws for several years by setting up their taxes on my copy of Turbotax and having them mail their federal forms and then redoing theirs via the state webpage to allow them to be filed for free. Their taxes are relatively simple, a few pensions, SS, couple of RMDs, interest, and sav...
by Carl53
Mon Dec 25, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions 2017 (Not all the crazy new stuff)
Replies: 16
Views: 1395

Re: Tax Questions 2017 (Not all the crazy new stuff)

Medical/dental premiums are only deductible to the extent they exceed 10% of your AGI. The tax bill reduced this to 7.5% for 2017 and 2018. For insurance premiums as well as medical expenses? Are you sure? Sure as long as your medical insurance premiums are deductible as an itemized deduction like ...
by Carl53
Mon Dec 25, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Tax Questions 2017 (Not all the crazy new stuff)
Replies: 16
Views: 1395

Re: Tax Questions 2017 (Not all the crazy new stuff)

If your medical and dental premiums are paid with pretax dollars, they will reduce your AGI. Note if they are, you do not get to include them in your medical itemized expenses since you have already got the tax break on them. On the other hand you might have had substantial medical out of pocket exp...
by Carl53
Sat Dec 23, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: CapitalOne new banking website hard to learn. Please help!
Replies: 14
Views: 1173

Re: CapitalOne new banking website hard to learn. Please help!

Just got off the CapitalOne site after trying to close my account. Took two phone calls and a chat. First CSR was asked about how to make the transfer so as to move the accrued interest. I followed those instructions, but was not availed of all the options that the CSR stated I would. Then a chat bo...
by Carl53
Sat Dec 23, 2017 10:55 am
Forum: Personal Finance (Not Investing)
Topic: 7.5% medical deduction for 2017 on billed amount or payed amount?
Replies: 14
Views: 599

Re: 7.5% medical deduction for 2017 on billed amount or payed amount?

I have used date of service when I have done this in the past. Seems pretty clear, at least in Turbotax, that it's the amount paid, not date of service. You are correct, generally my share is billed up front in the form of copays. The only time we get a bill due is when the insurance pay off has me...
by Carl53
Sat Dec 23, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: 7.5% medical deduction for 2017 on billed amount or payed amount?
Replies: 14
Views: 599

Re: 7.5% medical deduction for 2017 on billed amount or payed amount?

Chip wrote:
Sat Dec 23, 2017 10:44 am
Carl53 wrote:
Sat Dec 23, 2017 10:43 am
Medical expenses need to exceed 10% of AGI in 2017.
This isn't correct. The new tax bill reduced the floor to 7.5% for 2017 and 2018.

Did not realize that the tax bill had some retroactive components. Are there others?
by Carl53
Sat Dec 23, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: 7.5% medical deduction for 2017 on billed amount or payed amount?
Replies: 14
Views: 599

Re: 7.5% medical deduction for 2017 on billed amount or payed amount?

Medical expenses need to exceed 10% of AGI in 2017. I have used date of service when I have done this in the past. Generally copays are paid via cc upfront. Don't forget to include insurance premiums for dental, vision, and health.
by Carl53
Fri Dec 22, 2017 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Are pensions protected from sponsoring company's financial woes?
Replies: 8
Views: 972

Re: Are pensions protected from sponsoring company's financial woes?

Your organization should have a form 990 available on its website (which should provide financial statements). I think you can also pull this information up on sites like Guidestar. PBGC pays up to a limit, which I think is a little shy of $60K per year. I think a bunch of airline pilots have lost ...
by Carl53
Fri Dec 22, 2017 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion strategies for 2018 and beyond?
Replies: 13
Views: 1479

Re: Roth conversion strategies for 2018 and beyond?

I have been converting to the top of the 15% bracket and have often employed the horse race/recharacterize method of maximizing Roth returns. I could convert a few thousand extra next year and go to the top of the 12% bracket, but I am also now looking at reducing conversions (since without recharac...
by Carl53
Fri Dec 22, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 260
Views: 19999

Re: Do you see a meaningful change in your income with new Tax Bill?

Compared to the projected 2018 tax info prior to this change, looks like we will save perhaps 21%, nearly $2500 if I take advantage of converting a few thousand extra and convert up to the top of the 12% bracket. It would be more if I don't do that. I am also now looking at reducing conversions (sin...
by Carl53
Fri Dec 22, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard can only withhold 99% from RMD?
Replies: 18
Views: 1588

Re: Vanguard can only withhold 99% from RMD?

I wonder if this applies to QCDs?
by Carl53
Fri Dec 22, 2017 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48749

Re: Tax Bill Omnibus Thread

Did anyone else notice the differences between single and MFJ rates? Kitces has a horizontal bar chart on ~ page 5 of this article comparing current law and the final GOP plan. ... Higher income single filers are likely to have a higher marginal bracket over a wide range of taxable income. Here is ...
by Carl53
Thu Dec 21, 2017 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48749

Re: Tax Bill Omnibus Thread

Glad I'm reading this thread. Like many people, I make various charitable donations that are be deductible. In 2017 and earlier, my spouse and I (MFJ) were itemizers, but starting with 2018, I forecast that we will be right on the edge of itemizing vs taking the almost-doubled standard deduction. T...
by Carl53
Wed Dec 20, 2017 5:44 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 30911

Re: Ally Bank 1.25% 11 month with no EWP [1.75% and higher]

Ally Bank doesn't list rates from PenFed. If you go long-term, it's fairly close. --Ally Bank: 2.35% --PenFed: 2.27% (Same rate for 7-year CD) See: Money Market Certificates| PenFed I feel much better now, as I committed to a PenFed 7-year CD at 2.25% APY 2 months ago. If the rates go up again, I'l...
by Carl53
Wed Dec 20, 2017 5:29 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 30911

Re: Ally Bank 1.25% 11 month with no EWP [1.75% and higher]

Ally Bank doesn't list rates from PenFed. If you go long-term, it's fairly close. --Ally Bank: 2.35% --PenFed: 2.27% (Same rate for 7-year CD) See: Money Market Certificates| PenFed I feel much better now, as I committed to a PenFed 7-year CD at 2.25% APY 2 months ago. If the rates go up again, I'l...
by Carl53
Tue Dec 19, 2017 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 30911

Re: Ally no penalty 11 month CD rate increased to 1.50% this morning

I see that it is 1.75% today.
by Carl53
Tue Dec 19, 2017 5:43 am
Forum: Personal Finance (Not Investing)
Topic: House purchase considerations
Replies: 33
Views: 2702

Re: House purchase considerations

I wonder if the suggestion to rent a while might not be the best. OTOH, uncertainty with regards to potential tax changes might allow you to make a lowball offer that a motivated seller would be glad to take.
by Carl53
Tue Dec 12, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Any experience with Redneck Money Market? (1.5%)
Replies: 7
Views: 677

Re: Any experience with Redneck Money Market? (1.5%)

Had it for a number of years without any problems. Once upon a time it paid 3%. Eventually it drifted down to about 1% and is now back up to 1.5%. Balances above 35k only pay 0.5%. Personally, I use it primarily to autopay off CC bills and replenish it every few months.
by Carl53
Tue Dec 12, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 30911

Re: Ally no penalty 11 month CD rate increased to 1.50% this morning

sunny_socal wrote:
Tue Dec 12, 2017 2:10 pm
Why bother with a CD when there's a 1.5% Money Market account?

https://redneck.bank/mega-money-market/
I've had this account for a number of years, but it is limited to $35k, above which the interest rate drops to 0.5%.
by Carl53
Tue Dec 12, 2017 2:12 pm
Forum: Investing - Help with Personal Investments
Topic: High yield savings account
Replies: 13
Views: 1403

Re: High yield savings account

Considering helping my inlaws to open Ally no penalty CDs. 1.6% with no penalty, just about as good as savings account that they seldom need to access.
by Carl53
Tue Dec 12, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: best cashback credit card ?
Replies: 47
Views: 3833

Re: best cashback credit card ?

I dropped mine when earlier this year when the fee went to $95 (and announced that gift card purchases would no longer be rewarded). I believe they still waive the fee the first year. I switched to the no fee everyday version of the card as grocery purchases without any purchases of discounted gift...
by Carl53
Tue Dec 12, 2017 7:52 am
Forum: Personal Consumer Issues
Topic: Access to landlocked timber blocked by landowner
Replies: 30
Views: 3245

Re: Access to landlocked timber blocked by landowner

If it were me, and I wasn't too emotionally invested in the land, I'd sell it and walk away (if you don't get good news from your lawyer). Landlocked land is usually bad news, particularly if you don't have hard and fast legal access. Even if you get this sorted out and everything goes back to norm...
by Carl53
Tue Dec 12, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Year end review with less nerdy spouse
Replies: 72
Views: 8117

Re: Year end review with less nerdy spouse

We are years beyond doing the monthly budgets and tracking spending details which often left my spouse upset. We now keep each other in check by her mentioning certain desires or potential spending items which I often will readily endorse, or offer alternatives or me bringing up our current net wort...
by Carl53
Tue Dec 12, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: best cashback credit card ?
Replies: 47
Views: 3833

Re: best cashback credit card ?

I dropped mine when earlier this year when the fee went to $95 (and announced that gift card purchases would no longer be rewarded). I believe they still waive the fee the first year. I switched to the no fee everyday version of the card as grocery purchases without any purchases of discounted gift ...
by Carl53
Sun Dec 10, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for Filing Jointly
Replies: 6
Views: 457

Re: Preparing for Filing Jointly

You could use your tax software to do a dummy joint return based upon your current incomes and withholding. If your employer offers the option to have additional fixed $ amounts withheld for income taxes, just take the extra amount that you would need for next year out of one or both of your checks....