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Torg Fadum

I suggest using the in-state plan to save the 5% ($1,000 if all $20,000 is deductible) on your state taxes. That’s a sure thing. You can then invest that extra $1,000 into a very-low-cost fund in your IRA, 401k, or taxable account. Later on, when the kids are in college, you could cut back a little ...

Torg Fadum

If you can keep the balance under $15K, have you considered using a myRA Roth IRA for that purpose: https://myra.gov/how-it-works/t

Current interest rate is 2.375%.

Regards,
Torg

Torg Fadum

I focus on the never-goes-down-even-slightly characteristic that Nisi described and thus tend to think of I-bonds as closer to cash than bonds. From a practical point of view, it suits me personally to include I-bonds in a broader "Cash & Stable-Value" asset class that also includes EE...

Torg Fadum

Looks like you are doing excellent planning. If your income is not too high to qualify for a Roth IRA, have you considered using myRA (my Retirement Account) Roth IRA’s for part of your emergency fund? You can keep up to $15,000 in a myRA, and it grows tax-free. Current rate is 2.375%. In case of an...

Torg Fadum

Hello jbsmith05, Yes, myRA accounts are intended primarily “for people who don't have a retirement savings plan through work, or lack other options for saving.” In fact, the pilot program was limited to them and required the accounts be opened and funded via employer direct deposit. However, when Tr...

Torg Fadum

Hello Engineer250, In my opinion, you are doing some excellent planning. I think it is wise to use your Roth IRA space while you are in the 15% bracket (and perhaps beyond). Regarding your first question, I personally wouldn’t use the Total Bond ETF for an emergency fund. Along with other potential ...

Torg Fadum

Hello jbsmith05, Congrats on having a substantial emergency fund. In my opinion, having an adequate safe, liquid emergency fund also allows one to be more comfortable with an aggressive long-term portfolio as appropriate. If you are eligible for a Roth IRA and are not maxing IRA contributions every ...

Torg Fadum

If all goes reasonably well I will (and she will to a large extent) not have to worry about having enough income or worrying about the performance of our portfolio from age 70 till we both die . So, the trade off was funding the gap between the total of: pension income, wife's SS and my spousal SS ...

Torg Fadum

Hi PH, I am a retired officer who elected the usual (55%) SBP quite a while ago. I also have a small TSP account, from a short stint as a federal civil servant. I support all the helpful advice above on how best to try to help your buddy decide to take SBP and keep the TSP. Regarding SBP, I had sat ...

Torg Fadum

I'm not positive but i think the rule you mention only apples to early retirement, not FRA. In your example, I think there will be an August benefit (or entitlement in case of a restricted filing). If he were turning 62 on Aug 15th, then I think his first check and/or spousal benefit would be for S...

Torg Fadum

Hi Gordon: Congrats on your upcoming retirement!

Hi Stemikger: Glad you enjoyed the links. I bought the DVD of the Concert for George years ago, and it was fantastic.

Regards,
Torg

Torg Fadum

Guitar: VERY easy to start up and not sound terrible, but learning curve gets significantly steeper once you start doing things other than the most basic of simple chords. Piano: Also fairly easy to start and not sound terrible, but difficulty increase a lot with 2-hand technique, and once you star...

Torg Fadum

mickyvee, I hope you read this before you blowup your current Quicken file. Seems to me you should try to get some good guidance, perhaps via a Quicken forum before taking such drastic action. FWIW, I strongly agree with the above quote. I am not a Quicken expert by any means, but I have investment...

Torg Fadum

Some numbers: Ages 58 and 48 (births in 1954 and 1965; her birthday has passed, his hasn't) FRAs of 66 and 67 She retires in 7 years at 55 when OP is 65. Both have PIAs of $2000 (fictional numbers, but equal) He claims at 70; she at 62. He gets $2640; she gets $1400; total is $4040. He dies at 77 w...

Torg Fadum

Hi, Mike. Thanks! I downloaded it to my Kindle, immediately read Chp 11 When to Claim, and found the "Katie and Joe" example closest to our situation. Very helpful. Thanks, again. -Torg

Torg Fadum

Sadly, that is true. It is a very big country and overall the population density is low compared to other countries. People seldom work within biking or walking distance of their residence. This makes it very difficult and expensive to design proper public transportation infrastructure. But it seem...

Torg Fadum

Didn't realize there was another world cup thread. I'm really happy Japan won. 8-) I was rooting for Japan to win even though I'm a born and bred American. The U.S. choked basically, had tons of chances but couldn't get the job done. Hi Okie Indexer, I haven't read or watched any of the post-game a...

Torg Fadum

Another thriller, a real nail-biter. Though very disappointed in the end result, I'm happy for Japan. Regards, Torg I only watched the first 10 minutes of the game but I obtained periodic updates. Very Very disappointed in the end result. Lots of missed opportunities. Hi Mike, Yes, lots of missed o...

Torg Fadum

Another thriller, a real nail-biter. Though very disappointed in the end result, I'm happy for Japan.

Regards,
Torg

Torg Fadum

I'd also like to add that the commentators (Ian Darke and Julie Foudy) did a great job on this game and all the games. Ian: "Can you believe this?!" Julie: "I can believe it!" I love Ian Darke, but it was getting really annoying that first Foudy and then both Darke and Foudy cou...

Torg Fadum

Watching Wambach score on that header in the 122nd minute on a perfect cross from Rapinoe to tie the game just before the end of Stoppage Time at the end of the second overtime period was incredible. Enjoy! http://www.youtube.com/watch?v=fXFclSGSsGQ You betcha. Over and over again. Thanks! I'd also...

Torg Fadum

Mike, thanks for bringing this subject up. My family and I are looking forward to rooting for the USA in the final against Japan this Sunday. That’s going to be another really tough match against a classy team. While all the games have been enjoyable, the USA victory over Brazil last Sunday was one ...

Torg Fadum

Hi FedGuy, My sympathy for your difficulty here. Sorry the "trader" couldn't help. Since you've had two different Schwab people tell you that Schwab can't do what you need it to do, that may be accurate. If it were me, though, I'd call back again and speak with a different trader and ask w...

Torg Fadum

Hi FedGuy, I just went into my Schwab One account as if to place a trade. On the Trade Stocks screen (for stocks and ETFs) there is a Change link under Cost Basis Method which brings up the following choices: You can choose an alternative cost basis method for this order only. This method will be us...

Torg Fadum

Hi FedGuy,

Is your rep a trader or someone specifically associated with your account? You might try asking for the Trading department.

Regards,
Torg

Torg Fadum

Hi FedGuy, It's been several years since I've done this, so the process may have changed. Back then, I simply had the trade ready to go on line, but before submitting it called Schwab about placing the trade. The trader would enter the VSP (Versus Purchase date(s) for the desired share lots) info in...

Torg Fadum

I retired six months ago. No mortgage or other debt. Military retirement pay. Age 59. We currently have (and plan to keep) about 36% in fixed income, not including additional cash for a few expected large expenses in the near-term. Detailed allocation is: 12% TIPS 12% Nominal bonds 12% Cash/Stable V...

Torg Fadum

Hi Dug, In addition to the many attractions right at the Falls, you might be interested in one of the Whirlpool Jet Boat tours in the lower Niagara River from either their Niagara Falls, Ontario, or Lewiston, New York, locations. My family and I have taken the tour a couple of times from the Lewisto...

Torg Fadum

Tell them to start listening to Dave Ramsey for free here or on the radio. http://www.daveramsey.com/radio/home/ Hi Jeff, I strongly agree with rec7's and 3CT_Paddler's recommendations on Dave Ramsey. (Prepare for Option D and probably selling the boat and one of the vehicles if they don't need bot...

Torg Fadum

Hi Mel & Frugal Investor,

Thank you both for responding to my post.

Mel, I’ll send you a PM and let you decide if any of my comments are useful.

Regards,
Torg

Torg Fadum

Hi Mel,

Having been retired less than 48 hours, I think I'll have to get back to you later!

Regards,
Torg

Torg Fadum

I believe you are on the right track. HueyLD made the key point: that you claim expenses only in the year that you actually paid them, regardless of when they were billed. You do have an option to pay the Spring 2011 bill in Dec 2010 and claim those expenses in your 2010 return, if that is better fo...

Torg Fadum

In John D. MacDonald's wonderful mystery novels, his fictional investigator Travis McGee talks about taking his retirement in chunks. That is, after every successful case he knocks off for a while: "Trav, how much work like that do you find lying around when you start to get so broke you need ...

Torg Fadum

Hello EmergDoc, Thanks for your military medical service and for your always helpful advice. I think every military member should read and heed your tips. I have a few minor comments related to insurance and also the Survivor Benefit Plan (SBP) mentioned. It’s been a while since I retired, but back ...

Torg Fadum

Hello Honghong, Congratulations on your excellent financial position at such a young age and your aggressive approach to saving. Debt-free, with a six-month emergency fund and a mid-five-figure portfolio -- you have made a great start! If you are concerned about missing the company match, I have a c...

Torg Fadum

1. House
2. 24
3. Lie to Me

Regards,
Torg

Torg Fadum

Hello Lar, I think you have a good plan. The allowable cost of living at home for qualified 529 withdrawals is typically a lot less than the college’s campus room & board costs. If you go to www.collegeboard.com, search for the college(s) of your choice, then click on Cost & Financial Aid, y...

Torg Fadum

"To relieve the misfortunes of our fellow creatures is concurring with the Deity; it is godlike. But if we provide encouragement for laziness, and support for folly, may we not be found fighting against the order of God and Nature, which perhaps has appointed want and misery as the proper puni...

Torg Fadum

Many thanks for the link to the video of the Blackbird sound check!

Going from financial stuff to that video is a transition from the ridiculous to the sublime.

Regards,
Torg

Torg Fadum

Hello Piper, I have been using Quicken for years and am currently on Quicken 2007. I think it will do what you need. As noted above, it will also transfer the details to TurboTax to show the specific lots in your tax return if you want to do that rather than just putting in "Various." In t...

Torg Fadum

Hello Apprentice_941, Yes, the 0.15% fee is just a small nuisance, not like a 5.75% load or a $35 fee for a transaction-fee fund. I use the Schwab PCRA for most of my 401k holdings, and it is very convenient. On line transactions are easy, and phone customer support is very good (like all Schwab ser...

Torg Fadum

Carl Z, Thanks for the tip about the Hike & Bike Trail. We just returned from a 3-day weekend in Austin for a couple of concerts. I spent about 2 hrs on the trail Saturday morning, and it was great. I've never seen so many people working out. Of course, this morning (Sunday) was not so nice, wit...

Torg Fadum

It was "1964 The Tribute" (#1 Beatles-tribute band in the world). Kind of a small crowd in the Uptown Theater, but the band was fantastic as always. We've seen them dozens of times, including the following night in Wichita. In addition to the Uptown Theater, other architecture there in KC ...

Torg Fadum

Just wanted to let you know we had a great dinner at Fiorella's Jack Stack BBQ in Kansas City last Friday. We ended up at the one on Wyandotte near 47th St. A lot of great food. In fact, we couldn't finish it all, which is unusual for me. However, we wanted to be able to "Twist & Shout"...

Torg Fadum

Found it on the map. Looks only about a half-mile from our hotel. Thanks for the quick reply!

Regards,
Torg

Torg Fadum

Could you recommend any BBQ or other good restaurants near the Uptown Theater at 3700 Broadway in Kansas City? I'm driving there from Oklahoma City for a concert on Friday (14 Sep) and may not have a lot of time....

Thanks in advance for any suggestions.

Regards,
Torg

Torg Fadum

Kathryn, I don't have much to add, but I do want to say that it is wonderful that you will be helping your son take advantage of the HERO act with a Roth IRA. That is awesome. I hope he and his buddies received good info about the HERO act. (If not, perhaps he could diplomatically spread the news.) ...

Torg Fadum

Hello Clay, Even if there is no prepayment penalty, the current loan balance is not the payoff amount because you still owe interest (probably from the first of the month) on the balance till the date your mortgage company receives the payoff funds from you. So, if were to select the 29th of the mon...

Torg Fadum

Hi Allan, I agree with Norm, naturally, on the variety. After you've built up to it, the longer run is probably the most beneficial. If you want to ease into some interval workouts, you could start by doing some 100-meter strides. Warm up first by doing a very slow jog for 10 minutes, then gradually...

Torg Fadum

Hi Norm: great stuff! Hi Allan: I agree with Doug. You're well on your way. Don't push it too hard too soon. You're doing great already. Four months after knee surgery I had to start running all over again by alternating 100-meter jogs (really pathetic staggering) and 100-meter walks on the track. I...

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