Search found 185 matches

by StretchArmstrong
Sun Jul 16, 2017 12:17 am
Forum: Investing - Theory, News & General
Topic: Vanguard 403b Changes
Replies: 191
Views: 36455

Re: Vanguard 403b Changes

I'm reading the letter again, seems like vanguard is turning its back on "35 years of service". Anyway, they were pretty restrictive with their plans (no Roth, no loans, no vesting calculations), looks like loans and Roth will be opened up. I have a question about this part from the letter (edited as I am typing on my phone)- 2. Newport Trust Company to serve as custodian. Vanguard resigning as custodian and appointing Newport as successor custodian. and a little later down- In the event you do not want to transition you may exchange your 403b contract or custodial account prior to the transition date, scheduled for the 4th quarter of 2017. So, what does this custodial transition mean? Right now when I log in to vanguard all my ac...
by StretchArmstrong
Mon Jul 03, 2017 6:57 pm
Forum: Personal Consumer Issues
Topic: $25 million reserve- conservative ways to invest
Replies: 9
Views: 2005

Re: $25 million reserve- conservative ways to invest

Thesaints wrote:If a 1% loss is too much, you've gotta stay in cash.

Do you consider oscillations on treasury holdings value as losses, even though you are guaranteed to get your money back at maturity ?
Technically it is at that point in time, but since you are guaranteed to get it back, I wouldn't consider it a loss.
by StretchArmstrong
Mon Jul 03, 2017 6:48 pm
Forum: Personal Consumer Issues
Topic: $25 million reserve- conservative ways to invest
Replies: 9
Views: 2005

Re: $25 million reserve- conservative ways to invest

DomDangelina wrote:See sig.
Does that mean do nothing?

Re: FDIC and banking- The banks enter into collateralization agreements for the excess account balances over FDIC limits. You get a monthly statement showing CUSIP and holding pledged as collateral, so you only need one bank.
by StretchArmstrong
Mon Jul 03, 2017 6:26 pm
Forum: Personal Consumer Issues
Topic: $25 million reserve- conservative ways to invest
Replies: 9
Views: 2005

$25 million reserve- conservative ways to invest

I'm looking at ways to invest a $25M reserve, in the most conservative fashion with no / minimal risk of losing money. We currently do not invest this money, and with rising costs and reduced funding I'd like to look at ways to bring in a small amount of return. I have obtained copies of investment policies of similar sized government units, and the main points are below- 1) safety of principal 2) liquid 3) diversified 4) act responsibly as custodian of public funds As a reference, the list of authorized investments include US Government treasuries and Agency notes, CDs, and highly rated publicly traded companies. The comparable governmental units do not invest in bond funds. They only purchase actual bonds to avoid losses. They also use br...
by StretchArmstrong
Tue Mar 28, 2017 6:59 pm
Forum: Non-US Investing
Topic: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it
Replies: 25
Views: 6844

Re: Fidelity issued 1042-S Instead of 1099R. They Refuse to Change it

You should probably invest in a US-based mail service or use a family member's address just to avoid this (hopefully in a no tax state). The foreign address really messes things up.
by StretchArmstrong
Fri Feb 10, 2017 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Incorrect 1099-G from state for income tax refund
Replies: 3
Views: 681

Re: Incorrect 1099-G from state for income tax refund

In box 2 it has my correct refund amount from tax year 2014 (which was paid to me in 2015). In box 3 for tax year it says "2014". So all the data matches up. Does not seem to be fraudulent activity. Just seems that the form should not have been printed at all.
by StretchArmstrong
Fri Feb 10, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Incorrect 1099-G from state for income tax refund
Replies: 3
Views: 681

Incorrect 1099-G from state for income tax refund

I received a 1099-G that is 100% incorrect.

It is for tax year 2016, and is reporting my refund, but it is off by one whole year.

In reality this was for my 2014 refund which was paid to me in 2015, so it should have been reported on a 2015 1099-G (and perhaps it was I don't generally save those). I haven't lived or worked there for a few years now, so was really surprised to get this.

If I don't itemize and have never itemized, should I even bother with trying to get it corrected?
by StretchArmstrong
Sun Nov 20, 2016 2:44 am
Forum: Personal Consumer Issues
Topic: Recommendations for External Hard Drive
Replies: 50
Views: 6672

Re: Recommendations for External Hard Drive

When you use an external hard drive for backup, do you-

1) just drag and drop files on it

or

2) use the "backup" feature (like set windows backup to the external hard drive)

I mostly use #1. I have done #2, but not sure how it works if you actually need to restore. Can you plug into any computer and get your files? Doesn't seem like it would be that easy.
by StretchArmstrong
Mon Oct 31, 2016 9:39 pm
Forum: Personal Consumer Issues
Topic: Visit Fairbanks, Alaska to see Northern Lights?
Replies: 10
Views: 2271

Re: Visit Fairbanks, Alaska to see Northern Lights?

The lights are hit or miss. You could make the trip up and not see a thing, and there are more times when I don't see them than when I do. I've had one spectacular night that you wouldn't believe, but most of the time when I do see them it is just "ok". Still really cool to see, just don't want you to set your expectations sky high and be disappointed. You can stand outside for hours (if you are prepared for weather) just watching the lights move across the sky. It's a very deep and amazing experience. The Natives say the lights are the spirits of those who came before looking down on us. The rental car places in Fairbanks are kinda strange in winter. They don't like you leaving town (i.e. No drives up the Dalton to Coldfoot), so ...
by StretchArmstrong
Sat Sep 24, 2016 3:51 am
Forum: Personal Finance (Not Investing)
Topic: When (or whether) to have a second child
Replies: 37
Views: 6508

Re: When (or if) to have a second child

If I were you, I would add more items to your scoring rubric besides "financial". You should have at least 5 items, take a wholistic view of it. This isn't an easy question and it is something that only you can answer because it's so personal.

From a pure financial standpoint, the answer is no. Skip the kid and go with vanguard ;)
by StretchArmstrong
Sat Sep 10, 2016 11:49 pm
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

It took about 15 minutes, but I was able to get Fidelity added as a vendor for the 457 with their index funds!!! I'm shocked at how easy it was. Took almost no effort. Just have to wait for Fidelity to finish signing the plan document paperwork on their end and it will be available for all employees. So once this is open, would that change your suggestion? Fund them all, and if constrained, fund the 457 before funding the 403b? Definitely fund them all, but I'd probably fund the 457 before the 403b if you had to pick one or the other. Would you mind sharing a bit more about adding Fidelity as a vendor? Fidelity used to have a requirement that they wouldn't participate in a 457 plan unless enough employees committed to having an account the...
by StretchArmstrong
Sat Sep 10, 2016 10:26 pm
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

So a follow up on this thread- All the paperwork is back from Fidelity and all employees can now benefit from having access to low cost index funds. I'm pretty excited about it. Whether any employees actually use it is another story... I will probably max out the 457 and hold off doing the 403b, keep more in taxable in case I need the money. Just got to the end of this thread. Congratulations!! We're the previous high fees related to vendor or does your 457 tack on its own fee in addition to the vendor? And be sure to check on the early withdrawal potential of the 457 if you plan to retire before 59.5. It is an excellent source of initial funds. The other vendor charged high fees, not the plan. It was an insurance company product, some sor...
by StretchArmstrong
Sat Sep 03, 2016 1:14 am
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

So a follow up on this thread-

All the paperwork is back from Fidelity and all employees can now benefit from having access to low cost index funds. I'm pretty excited about it. Whether any employees actually use it is another story...

I will probably max out the 457 and hold off doing the 403b, keep more in taxable in case I need the money.
by StretchArmstrong
Wed Jul 06, 2016 9:06 pm
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

I'm going to call and see if anything can be changed on the 457b choices, but the answer will probably be no since there isn't a lot of participation. All you need is one usable fund. It could be a stable value fund that you would use in place of bonds. Sometimes these funds are overlooked. See if you have one. It took about 15 minutes, but I was able to get Fidelity added as a vendor for the 457 with their index funds!!! I'm shocked at how easy it was. Took almost no effort. Just have to wait for Fidelity to finish signing the plan document paperwork on their end and it will be available for all employees. So once this is open, would that change your suggestion? Fund them all, and if constrained, fund the 457 before funding the 403b?
by StretchArmstrong
Wed Jul 06, 2016 9:10 am
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

In this case, I think I'd consider using taxable instead of the 457b. You say you have a mandatory defined contribution plan, but I wonder if that is a defined benefit plan (a pension). Either way, it is tax-deferred. And a 403b. That's already a lot in tax-deferred savings. And it "feels" like you have a pension coming. I'm not sure a bad 457b plan is a great choice in your case. It's a defined contribution plan. I'd love to be in the defined benefit plan, but that was cut off for all new employees entering the system a long time ago. The defined contribution plan is just like a 401k with a match and a vesting schedule. However it does have this complicated health care add on that is bundled with it, but you need 30 years for th...
by StretchArmstrong
Wed Jul 06, 2016 12:08 am
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

Re: 457(b) available- with high fees

grabiner wrote:My rule of thumb is to consider a taxable account over a bad employer plan only if the product of the extra fees and the number of years you expect to be stuck with the plan exceeds twice your tax rate on qualified dividends. Thus, if you pay the regular 15% tax on qualified dividends and no state tax, a 457(b) with 1.5% extra expenses is worthwhile unless you expect to stay with the employer more than 20 years.

The reason is that the tax benefit is permanent. When you leave the employer, you can roll the high-fee 457(b) into an IRA (or another employer's plan), keeping the tax deferral that you would lose if you had a taxable account.
That's great advice. Never thought of it like that, thanks!!
by StretchArmstrong
Tue Jul 05, 2016 10:54 pm
Forum: Personal Investments
Topic: 457(b) available- with high fees
Replies: 20
Views: 2632

457(b) available- with high fees

I have access to a governmental 457(b)- so no risk of losing assets in event of employer bankruptcy. However, the investment options are really bad (insurance company products stacked with high fees). There is also a 403b available with low cost index funds. I love the idea of contributing to a 457(b) because of penalty free early distribution, but I'm not in love with the high fees. Would you max the 457(b) or put that money in taxable? I currently max out everything else, and this would be a great opportunity to significantly increase my tax deferred space to $56k per year. Summary- 28% tax bracket 457(b) (government)- $18k 403b- $18k Mandatory defined contribution plan (tax deferred and does not count towards the total limits)- $15k Roth...
by StretchArmstrong
Sat Feb 06, 2016 11:01 pm
Forum: Personal Consumer Issues
Topic: Raw Honey?
Replies: 34
Views: 4332

Re: Raw Honey?

Raw milk or whole milk? Two very different things! The sale of raw milk varies by state, and some states it is very restrictive to purchase. We drank raw milk as a kid, but it came right from the cow. Cows can be kind of messy- poop everywhere, sometimes poop on the udders, I can easily see how people get sick from raw milk. Funny story about raw milk- Oregon allowed you to sell raw milk if you were a small farm, but you weren't allowed to advertise that it was for sale. There was a case winding its way through the courts where a farm was in trouble for posting the prices of raw milk and it was deemed advertising. Not sure how it was resolved. Most honey you buy at the regular store does not even meet the FDA's definition of honey because i...
by StretchArmstrong
Wed Feb 03, 2016 3:43 am
Forum: Personal Investments
Topic: Rolling over tiny Roth 401k
Replies: 4
Views: 776

Re: Rolling over tiny Roth 401k

Alan S. wrote:
You need keep tabs of the composition of your Roth IRA anyway should you need to take a non qualified distribution. The Roth 401k rollover just requires adjustment of the Roth IRA categories you are already keeping track of.
Oh boy. I should just leave it in the 401k forever then. I've never tracked anything with my Roth IRA.

I'll try and check with vanguard as well, but have been too busy to call or email.
by StretchArmstrong
Sat Jan 30, 2016 3:10 pm
Forum: Forum Issues and Administration
Topic: BOGLEHEADS.COM AND BOGLEHEADS.NET
Replies: 54
Views: 14991

Re: BOGLEHEADS.COM AND BOGLEHEADS.NET

I always found bogleheads.com (went there a few times on accident) to be a really annoying website. Glad to hear the former operation has been put down and it will now redirect to here!!
by StretchArmstrong
Sat Jan 30, 2016 3:05 pm
Forum: Personal Investments
Topic: Rolling over tiny Roth 401k
Replies: 4
Views: 776

Rolling over tiny Roth 401k

I'm locked out of one of my old 401k accounts, and I'm ready to just roll it over to vanguard to have everything in one place.

There's a nice balance in the regular 401k portion of the account. No concerns there.

My concern is with the Roth portion of the 401k. I did a couple contributions to the Roth side before I decided it wasn't a good idea and switched over to the traditional side. My Roth balance is around $500.

When I roll this over to vanguard, my understanding is it will go into a segregated sub account called rollover or something like that. Will the Roth portion also go into a "rollover Roth" sub account? If so, not sure what I would be able to do with $500 if I could even invest it due to fund minimums.

Thoughts?
by StretchArmstrong
Thu Jan 14, 2016 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: 29 and quitting job for long honeymoon. Is it a bad idea? Talk me out of it
Replies: 69
Views: 13530

Re: 29 and quitting job for long honeymoon. Is it a bad idea? Talk me out of it

Ok I'll take a stab. The Rio thing sounds pretty stupid. Logistically it doesn't make sense from where you are already at in your trip...you could do something much better with your time and money in Europe since you are already over there. Plenty of nice places to visit in Spain or somewhere on the Mediterranean. For a honeymoon do you really want to sit in a noisy, crowded stadium??
by StretchArmstrong
Sun Jan 10, 2016 8:24 pm
Forum: Personal Consumer Issues
Topic: Warm vacation in January.
Replies: 20
Views: 3362

Re: Warm vacation in January.

cfs wrote:San Juan, PR

Well, you can take a trip to "the second oldest continuously inhabited European established settlement in the Americas."

San Juan, PR
What about the oldest continuously inhabited European established settlement in the Americas? Or is it too dangerous?
by StretchArmstrong
Sun Jan 10, 2016 3:51 am
Forum: Personal Consumer Issues
Topic: Alaska in July, first time RV
Replies: 55
Views: 6012

Re: Alaska in July, first time RV

What will the RV rental cost? Alaska goes from dirt cheap in the winter to ripoff in the summer.

I got this list from a friend when I first moved to Alaska. I have not done any of these, and probably never will, so can't say how good any of them are (just too far from where I'm at)-

Seward- kayaking on the ocean, lots of sea life
Harding ice field- summer time
Homer
Denali NP (you got that one already)
Hope
Day cruise out of Valdez
Drive from Fairbanks to Valdez

One time I did the drive from Fairbanks to Tok in the dead of winter, and it was no fun at all due to ice on the road. I would love to do that drive in the summer. Looked like some cool places to see and camp, and lots of history along the way.
by StretchArmstrong
Fri Jan 08, 2016 8:23 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime Shipping Issues since move from UPS to USPS
Replies: 122
Views: 64813

Re: Amazon Prime Shipping Issues since move from UPS to USPS

Where I live it takes 2-3 weeks to get something via prime. If the weather is really bad it takes a little longer. If you don't have prime add 2-3 weeks on top of that.

And you guys are complaining about something taking three days instead of two??
by StretchArmstrong
Sat Dec 19, 2015 8:38 am
Forum: Personal Consumer Issues
Topic: Bogleheads: Share how you like to vacation
Replies: 113
Views: 15070

Re: Bogleheads: Share how you like to vacation

abuss368 wrote:No one selected the arctic circle?
I live in the Arctic and spend all of my vacation there, mostly doing subsistence activities which wouldn't be available to an outsider passing through for a short visit.

The problem with the Arctic is access. You are talking about a vast area, and it will take you forever to get to your destination and cost you a lot of money to get there. Very few services or supplies, and those that are available are extremely expensive. If you can put up with the endless swarms of mosquitos, the flesh-eating black flies that take chunks out of your arm, neck, or ears, or the tiny no-see-ums, then it's a pretty amazing place.
by StretchArmstrong
Fri Dec 11, 2015 11:37 am
Forum: Personal Consumer Issues
Topic: San Antonio vs. Morgantown, WV for 2 docs
Replies: 99
Views: 15069

Re: San Antonio vs. Morgantown, WV for 2 docs

I just got off a flight to Fairbanks, and the person next to me was a former San Antonio resident. He made San Antonio out to be the worst city ever, mostly due to traffic. He said it's a great city if you are retired and don't drive during rush hour. He was also lamenting the "tech invasion" and the changes that brings to a city (housing price increases). Sounds like you can get really fast internet there though.

Take it with a bag of salt, everyone in Alaska is a little odd (myself included).
by StretchArmstrong
Mon Nov 23, 2015 1:57 am
Forum: Personal Consumer Issues
Topic: Scottsdale Hotel Recommendations for Spring Training?
Replies: 11
Views: 2125

Re: Scottsdale Hotel Recommendations for Spring Training?

My 19 year old son If I still lived in Tempe I'd let you stay at my place for free (you'll have to come visit the Arctic now). He would probably enjoy the scenery of Scottsdale Old Town more than some cheap place out in Glendale or Mesa. I've stayed at Hyatt House Scottsdale/ Old Town and the Marriot Suites Old Town. Search Scottsdale Old Town and you'll find quite a few places to stay. Walking distance to lots of bars and restaurants. Lots of taxis and golf cart taxis. Nightlife seems to be 25-35 year olds. Lots of anti- boglehead behavior. You'll get to experience seeing the famous Scottsdale $30k millionaires. Tempe/ Mill Ave- same type of thing, real young crowd, nightlife is 21-25 year olds. If you can get out and hike Camelback Mount...
by StretchArmstrong
Sun Nov 22, 2015 2:12 am
Forum: Personal Consumer Issues
Topic: Car Lease Registration
Replies: 7
Views: 2325

Re: Car Lease Registration

What's the state?

Some states send them out really early. If it were me I wouldn't pay it. There has to be some provision for this because it happens all the time (like what happens if you sold a car right before the registration expired, or moved out of state), and you can generally write a reason for nonpayment on the renewal and send that in.
by StretchArmstrong
Sat Nov 21, 2015 5:22 pm
Forum: Personal Investments
Topic: Transferring $ from 403(b)??
Replies: 20
Views: 2140

Re: Transferring $ from 403(b)??

Legally you can transfer money from one 403(B) to another. I have done it years ago Most plan administrator contracts with the sponsor (your employer) prohibit such transfers. This is particularly true if your administrator is an insurance company. They don't want any of the assets "bleeding out" into a broker option or (God forbid) an index fund. Those assets would be lost to the insurance companies high expense mutual funds. Unfortunately, most companies agree to this because the insurance companies imply that most money transfers out of the 403(b) or 401(k) will be spent by the employee and " Defeat the reason you are providing your employees a retirement plan" Good luck getting changes to the plan. Most insurance co...
by StretchArmstrong
Sat Nov 21, 2015 3:47 pm
Forum: Personal Investments
Topic: Transferring $ from 403(b)??
Replies: 20
Views: 2140

Re: Transferring $ from 403(b)??

Most plans are in fact set up as explained to you by the representative. Generally, as long as you stay with the employee, you are limited to to the options available in the plan and you just need to pick the best available. Bad choices can change the priority order in which you fund the plan. The general suggested order of funding would be 1) 403 b if it results in a match 2) Traditional or Roth IRA 3) Unmatched 403b. A few brave souls have set out to get their company to change their retirement plan options. One of my coworkers want he and I to meet with the CFO to see about changing plan options. I know they went with the company we have because it is most likely the most profitable for them. Both of us would like to see a switch to Van...
by StretchArmstrong
Sat Nov 21, 2015 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000 in cash lost or stolen
Replies: 54
Views: 10656

Re: $1,000 in cash lost or stolen

Grogs wrote: My friend didn't show up, so the first time I realized was the next morning when I went to get some breakfast. I ordered, and then when I went to pay I found my wallet was empty. Yeah, it was a really bad feeling, and it took me a while to realize that I had definitely been robbed.
What happened next? Did you already eat the food? What happened when you didn't have the money to pay?
by StretchArmstrong
Sat Nov 14, 2015 3:09 pm
Forum: Personal Consumer Issues
Topic: Home heating issues
Replies: 53
Views: 8332

Re: Home heating issues

I would probably do #1 and see if that can get you through the winter. Then if you want to do a major upgrade you can do it in the summer and do option #2.

Would the gas furnace be more efficient than the boiler? What would be the cost savings over a winter?

If you would save a ton of money then get the part, install the furnace, and get the refund on the boiler part.

For #3 it wouldn't hurt to get a cost estimate from another contractor.
by StretchArmstrong
Fri Nov 13, 2015 12:35 am
Forum: Personal Investments
Topic: What to do with wife's 403b tax sheltered annuity?
Replies: 4
Views: 698

Re: What to do with wife's 403b tax sheltered annuity?

... Started contributing ...1997. Has been making maximum contribution annually since the start. Started this annuity with a previous school district but continued with it when she changed districts in 2004. Appreciate any suggestions for our situation. 1. ...keep contributing to it? 2. Should we discontinue contributing to this particular annuity... I'm a little confused here. 1997- start, old school district 2004- new school district. Is this the current district? Under the old regs you could pretty much send your 403b money wherever you wanted. This all ended in 2009(?) when IRS required a 403(b) written plan document (believe church plans exempted from this) that spelled out the terms of the plan and included a list of approved vendors...
by StretchArmstrong
Fri Nov 13, 2015 12:10 am
Forum: Personal Investments
Topic: What to do with wife's 403b tax sheltered annuity?
Replies: 4
Views: 698

Re: What to do with wife's 403b tax sheltered annuity?

Here's what I would do- 1) It's great you have vanguard as an option!! With the new district set up the 403b with vanguard. There are no admiral shares available, and unless you have a substantial account balance with vanguard already, there will be a $15 a year fee per fund. Unless you want to slice and dice, I would probably just pick one target retirement fund and be done with it. Leave the financial salesmen in the dust! 2) see if your current 403(b) plan allows rollovers into the district from an old 403(b). Most likely this will be allowed, but it doesn't have to be. Then check and see if there are any fees if you do transfer the old variable annuity balance into the new 403(b) plan (I'm not talking about a small $75 transfer fee for ...
by StretchArmstrong
Thu Nov 12, 2015 11:47 pm
Forum: Personal Consumer Issues
Topic: Buying a Log Home
Replies: 25
Views: 4385

Re: Buying a Log Home

I currently live in a log cabin in remote Arctic. I love it. Here the trees are cut and then they sit for a year in the elements to be seasoned. I've never heard of anyone building a quality cabin with fresh cut timber. My cabin is small so very easy to heat and keep warm. It was -15 F today and it stayed quite warm in here. The floor is cold though, if you spill water it will probably freeze. The logs are weathered and worm. That's how they are supposed to look, no painting is done. The base of the cabin sIt's about 3 feet off the ground, and there's no exterior porch or anything like that. Hardly any rain (Arctic desert), so not a lot of wood rot. So far no maintenance. Given enough time all wood will eventually rot. Just a note about pnw...
by StretchArmstrong
Wed Nov 11, 2015 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Major CPA Problem/Crisis
Replies: 20
Views: 3836

Re: Major CPA Problem/Crisis

http://pr.mo.gov/accountancy-complaints.asp

http://pr.mo.gov/boards/accountancy/375-0838.pdf

If you feel the CPA is out of line and in violation of the professional standards, then report it to the board! They are very powerful and can revoke a CPA license if warranted by the misconduct. A CPA should be more afraid of the board than any random lawyer you could hire.

The board is there to protect consumers and keep faith in the profession. If your complaint passes muster they will take action.

You don't pay anything. The board conducts an investigation, and if they find fault they generally make the CPA pay all investigation costs.
by StretchArmstrong
Wed Nov 11, 2015 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Major CPA Problem/Crisis
Replies: 20
Views: 3836

Re: Major CPA Problem/Crisis

What state are you in??
by StretchArmstrong
Wed Nov 11, 2015 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship with my accountant has gone way south, need advice
Replies: 9
Views: 2778

Re: Relationship with my accountant has gone way south, need advice

http://www.op.nysed.gov/opd/

All states have a process to file a complaint against licensed CPAs. I quite enjoy reading the quarterly newsletters my state sends out regarding its investigations and disciplinary actions.

If your allegation of incompetence has merit they will investigate. Let the state do the heavy lifting.
by StretchArmstrong
Sun Nov 08, 2015 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Check your accounts and 401(k) here near the end of the year! Mistakes happen!
Replies: 17
Views: 3305

Re: Check your accounts and 401(k) here near the end of the year! Mistakes happen!

So a bit of advice: Do not trust your payroll department to get it right. A couple months ago payroll messed up on my 403b contribution. I'm paid bi-monthly and have two deductions each month. They made the contribution at the end of the month- but only one of them. I was annoyed by this and took matters into my own hands, logged in and made the transfer myself (I'm plan administrator so I can do it). I used it as a learning lesson for payroll- if the 403b balance payable is $2,000, and you actually pay $1,000, you cannot clear out the $2,000 as paid in the system. It all has to match. If it doesn't match you need to find out why. It hasn't happened since and I've been happy with the process. Now if I could only get the payroll person to s...
by StretchArmstrong
Sun Nov 08, 2015 12:44 am
Forum: Personal Finance (Not Investing)
Topic: How much is "extra" Roth space worth?
Replies: 17
Views: 3517

Re: How much is "extra" Roth space worth?

I would say yes. Once you get past the $1,000 initial fee, $200 per year is not a lot of money to pay to get an extra $30k per year into Roth status. It wouldn't take long to earn that back with tax free compounding.
by StretchArmstrong
Sat Nov 07, 2015 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 vs. W2 school district conundrum
Replies: 19
Views: 2773

Re: 1099 vs. W2 school district conundrum

Big Dog wrote:Hard for me to see how that is a 1099 position....federal labor law is pretty clear. Of course, that doesn't mean that many employers try to skirt the law, but usually those are private employers.

And yes, you would have to pay both sides of FICA, your own and the employer's portion.
It depends. The OP never really said what exactly he was going to be doing, how the position will be funded, or that he was even going to be a teacher.

I've seen grants come through from the state that fund teacher coaches or other specialists that are contractors- so 1099 positions. They would work the school year, during the school day (similar to what the OP stated) but would not be employees.
by StretchArmstrong
Sat Nov 07, 2015 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Job Recommendations - Unique skillset / experience
Replies: 8
Views: 3674

Re: Job Recommendations - Unique skillset / experience

My wife and I have been thinking more about long term plans and we would like a lot of flexibility with our jobs. We want to spend more time with our young children, be able to pick them up from school (when they start kindergarten) or at least get home in time for family dinners, work 40 flexible hours or even part time. We want to be pushed, make an impact and not be bored, but also don't want a bunch of job related stress (I know that's a bit of a trade off). You can't have your cake and eat it too. Let's focus on what you want- Flexible or part time Pushed Impact Not be bored No stress If I were to group these I would say pushed, impact, and stress all go together. If you are pushed there will be some level of stress you have to deal w...
by StretchArmstrong
Sat Nov 07, 2015 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 vs. W2 school district conundrum
Replies: 19
Views: 2773

Re: 1099 vs. W2 school district conundrum

I'm not familiar with the NJ pension setup for teachers. Do you guys have a defined benefit and a defined contribution setup (DB or DC)? If so, which plan are you under? Are you fully vested?

How much do you pay in union dues per year?

Where are you at in the salary schedule? Are you maxed out, or do you have some wage increasing coming in the next few years?

Sick leave- I assume it keeps accumulating each year? This is a major benefit of w-2 employee.

It's a hard decision. If it were me and I was vested, had my wife's health insurance, and was maxed out on the salary schedule I would consider it...but you lose the sick leave and other benefits like a 403b.
by StretchArmstrong
Sat Nov 07, 2015 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: In a Housing Bind...
Replies: 60
Views: 8275

Re: In a Housing Bind...

When I lived in the Bay Area I had a party house on one side, and parents with kids on another. The party house was up all hours of the night, and the kid house was up all hours of the morning. I didn't mind the party house, but those kids early morning- running around, playing, yelling, dribbling basketballs..,nothing wakes you up quicker than basketballs. Let your kids get a few years older and you'll be able to strike back.
by StretchArmstrong
Sat Oct 24, 2015 3:25 am
Forum: Personal Investments
Topic: Rollover 401k from one former employer to another former employer?
Replies: 7
Views: 862

Re: Rollover 401k from one former employer to another former employer?

Most plans will not let you roll money into the plan if you are no longer employed by the firm. Check the plan documents. I don't think plans can discriminate this way. You are still a participant even if you no longer work for the employer. They may not let you take a loan because you don't have payroll deduction. I heard some plans even allow new loans as long as you keep up with payments on your own. Chances are if they accept rollovers from current employees they will accept from former employees as long as you still have an account. Most plan documents look like a choose your own adventure book. They all have crazy quirks- maybe they limit how much you can contribute per paycheck, how often you can change your deductions, and I've eve...
by StretchArmstrong
Sat Oct 24, 2015 2:39 am
Forum: Personal Consumer Issues
Topic: I bought a new (used) car and already having an issue
Replies: 111
Views: 19967

Re: I bought a new (used) car and already having an issue

i would just get it fixed or rotors replaced. doing it now vs 6 mos from now seems immaterial. The expectation that a used car dealer would be completely honest, is really a stretch in my mind. Fix it and move ahead, and that's life. Yeah but the bigger issue is being lied to about the car being a rental. You said yourself you did an autocheck and it didn't show up as a rental. The salesman said it wasn't a rental. You found a manual with a car rental receipt inside, and another receipt in the glove box. Does that mean the car was a rental? It could, but I have an active imagination and can think of many unlikely (but not impossible) ways that those ended up in your car but yet have nothing to do with your car. People throw all kinds of st...
by StretchArmstrong
Sat Oct 24, 2015 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Need Help: Overcharged for Health Insurance due to FMLA Timing
Replies: 5
Views: 1021

Re: Need Help: Overcharged for Health Insurance due to FMLA Timing

I'm a little confused with your timeline. Can you spell it out more clearly? June 1st- start of FMLA. Late October 20th ish- FMLA ends. If that's true you got more than 12 weeks. FMLA goes a max of 12 weeks, and it runs concurrent with paid leave. It cannot be extended by paid leave. Example- If you had 4 weeks paid leave, you can be paid during FMLA and have 8 remaining weeks of unpaid FMLA. You cannot have 4 weeks of paid leave and 12 weeks of FMLA. Just FYI- health insurance in my district is monthly, it's all or nothing. You can't do partial month. Another FYI- after FMLA is up its back to work, they can't make you wait until Jan for the new semester. FYI #3- The health insurance company should be able to help you too with this. They ha...
by StretchArmstrong
Thu Oct 22, 2015 1:32 am
Forum: Personal Consumer Issues
Topic: Why do people drink light beer ?
Replies: 84
Views: 11711

Re: Why do people drink light beer ?

The local liquor store has a small selection of light beers. I used to be a beer snob and only drank fine micro brews. Now I'm used to light beer and the heavy stuff isn't agreeable. These prices are for a 24 pack... Coors light- $35 Keystone- $35 Miller light- $45 Bud light- $45 Wow!! Those prices are insane. At the supermarket near me, I think a case of Bud light goes for $22. It is crazy, but I'm used to it now. It has to come in on a little plane. And even though it's expensive, at least it's available. In all of the surrounding area alcohol is banned. Makes good business for bootleggers. It feels like the Wild West sometimes, or perhaps the 1920s. When I go down to the lower 48 I seek out Bud Light. I have the taste for it now, and I ...
by StretchArmstrong
Wed Oct 21, 2015 11:46 pm
Forum: Personal Consumer Issues
Topic: Why do people drink light beer ?
Replies: 84
Views: 11711

Re: Why do people drink light beer ?

The local liquor store has a small selection of light beers. I used to be a beer snob and only drank fine micro brews. Now I'm used to light beer and the heavy stuff isn't agreeable.

These prices are for a 24 pack...
Coors light- $35
Keystone- $35
Miller light- $45
Bud light- $45