Search found 151 matches

by Pocket Cruiser
Thu Sep 06, 2018 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Cash Value vs Cost Basis [Life] Insurance
Replies: 5
Views: 648

Re: Cash Value vs Cost Basis [Life] Insurance

I was wondering the same thing about a similar situation. I think I read somewhere that part of the premiums you pay are not added to cost basis...maybe the "cost of insurance" portion? Edit: Here's the paper that explains the conundrum. It seems the IRS initially used "aggregate premium theory" whe...
by Pocket Cruiser
Thu Sep 06, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: HSA contributions after spouse joins health plan
Replies: 2
Views: 324

HSA contributions after spouse joins health plan

Hello, For the first 8 months of the year my wife had her own health plan with her own HSA. On Sep 1, she joined my plan. My contribution has already been maxed out at $3,450. She had already contributed $2,195.35 to her HSA. Can we contribute an extra $1,254.65 to my HSA to max out her yearly $3,45...
by Pocket Cruiser
Tue Jun 26, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Small loan by the way of 0% APR credit card
Replies: 20
Views: 1339

Re: Small loan by the way of 0% APR credit card

Look up credit card arbitrage. I used to do it when interest rates were higher. You can make balance transfer checks out to yourself. Just be sure to make the min payments and pay it off in full before the 0% intro term expires or you'll be on the hook for the actual interest rate for the whole term!
by Pocket Cruiser
Mon Apr 16, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: sell fund in taxable account to fund ira before tax deadline
Replies: 3
Views: 438

Re: sell fund in taxable account to fund ira before tax deadline

Ok thanks!

I selected 2017 as the contribution year. Actually, I sold $11,000 of the fund in the taxable account, and went ahead and selected 2018, as well, at the same time.
by Pocket Cruiser
Sat Apr 14, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: sell fund in taxable account to fund ira before tax deadline
Replies: 3
Views: 438

sell fund in taxable account to fund ira before tax deadline

I would call vanguard about this, but they're closed for the weekend. I just put in an order to sell $5500 of VTSAX using FIFO, and then send the proceeds to my roth ira for a 2017 contribution. It allowed me to do this on the website, but will it really settle and be in the roth before Tues, 4/17? ...
by Pocket Cruiser
Wed Jan 24, 2018 8:20 am
Forum: Investing - Theory, News & General
Topic: Calling all stats and math gurus...monte carlo in excel or online program
Replies: 13
Views: 1309

Re: Calling all stats and math gurus...monte carlo in excel or online program

Thanks for the help. For those interested, this is the the organization that runs the plan, https://pensionfund.org. This is the resource book for the TDRA (tax deferred retirement account), https://pensionfund.org/uploads/TDRA_Member_Resource_Book.pdf And here are the returns since inception. I had...
by Pocket Cruiser
Tue Jan 23, 2018 10:19 pm
Forum: Investing - Theory, News & General
Topic: Calling all stats and math gurus...monte carlo in excel or online program
Replies: 13
Views: 1309

Calling all stats and math gurus...monte carlo in excel or online program

My FIL is a minister and his 403b is in some kind of special plan that has a guaranteed base rate of 3%, and an unlimited upside return. The most it has ever returned in its 42 year history was 14%. The CAGR since inception is 8.35% (nominal). Since there is no downside risk and the least it would e...
by Pocket Cruiser
Sat Jan 13, 2018 2:44 pm
Forum: Investing - Theory, News & General
Topic: Variable annuity and ACA subsidy
Replies: 13
Views: 1080

Re: Variable annuity and ACA subsidy

Thanks Huey and curmudgeon. I hadn't thought about an HSA and I believe their bronze plan is a high deductible plan, so will look into that.

I should have mentioned they would get the VA from vanguard which I think had no surrender charges.
by Pocket Cruiser
Sat Jan 13, 2018 2:29 pm
Forum: Investing - Theory, News & General
Topic: Variable annuity and ACA subsidy
Replies: 13
Views: 1080

Variable annuity and ACA subsidy

My parents are both 61 and retired with 1 dependant. Starting this year they are on the Obamacare bronze plan with a premium subsidy. Their projected AGI for 2018 is $75k. They have $300k in cash that needs to be invested. If they invested it in a taxable account, I could see a big problem with unan...
by Pocket Cruiser
Sun Apr 23, 2017 6:50 pm
Forum: Investing - Help with Personal Investments
Topic: Advice needed: Ibonds for College vs 529?
Replies: 6
Views: 1146

Re: Advice needed: Ibonds for College vs 529?

If the math doesn't work out for financial aid that Jack mentioned, then: If you're worried your income will be too high when the kid goes to college, for the interest exclusion of your savings bonds, you should cash them out and fund a 529 before the year your MAGI is above the limit. That way, you...
by Pocket Cruiser
Wed Mar 29, 2017 11:32 am
Forum: Investing - Theory, News & General
Topic: Should I use margin to buy a balanced fund?
Replies: 919
Views: 211428

Re: Should I use margin to buy a balanced fund?

Any updates to how the portfolio is doing?
by Pocket Cruiser
Tue Mar 07, 2017 11:52 pm
Forum: Investing - Help with Personal Investments
Topic: I-Bonds vs CD
Replies: 24
Views: 3110

Re: I-Bonds vs CD

Ashley,

Dont know if it still works, but I joined the ACC for free last year with the promo code "consumer".
by Pocket Cruiser
Mon Mar 06, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of annuity purchased with life insurance proceeds
Replies: 7
Views: 971

Re: Taxation of annuity purchased with life insurance proceeds

Thanks for the help everyone. What kind of annuity? Has she annuitized yet? If she goes with anuuitization, she will recover her basis with each payment received. If she simply withdraws without annuitization, earnings will have to be reported as income first. It's a deferred variable annuity that h...
by Pocket Cruiser
Sun Mar 05, 2017 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of annuity purchased with life insurance proceeds
Replies: 7
Views: 971

Taxation of annuity purchased with life insurance proceeds

My mother was sold an annuity after my grandfather passed and was purchased with the proceeds of his life policy. I understand that life insurance benefits are tax free, and am wondering if withdrawals from this annuity will also be. I have a feeling they will be taxable...
by Pocket Cruiser
Sat Dec 03, 2016 8:20 pm
Forum: Investing - Help with Personal Investments
Topic: Would it make sense for me to not max out my 401K?
Replies: 71
Views: 9232

Re: Would it make sense for me to not max out my 401K?

My question is should I max it so it's done in august or even rly throughout the year so it's maxed in December. Or does it not matter Probably won't make much of a difference at all. You'll only know in hindsight if it was better to lump sum or dollar cost average (DCA). And that's getting into a ...
by Pocket Cruiser
Tue Nov 29, 2016 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tax credit for tuition; 529 for room and board
Replies: 1
Views: 330

Tax credit for tuition; 529 for room and board

Can one claim the American opportunity credit for tuition and other qualified expenses and also use 529 funds to cover other expenses such as room and board?
by Pocket Cruiser
Tue Nov 01, 2016 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Paper I-Bond from Tax Refund Problems
Replies: 9
Views: 1905

Re: Paper I-Bond from Tax Refund Problems

Yes, she did take it to the PO and they forwarded it on. Not sure if it was USPS's error or Treasury's. Each bond was in a separate postmarked envelope. This $50 bond was right in the middle of their 50's. I suppose the Treasury arranged them in a stack and the USPS just delivered them in the same a...
by Pocket Cruiser
Mon Oct 31, 2016 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Paper I-Bond from Tax Refund Problems
Replies: 9
Views: 1905

Re: Paper I-Bond from Tax Refund Problems

Do you happen to live in Foster City, CA? My parents received a 50 dollar bond for someone there. My mother was going to take it to the post office and let them handle it.
by Pocket Cruiser
Fri Sep 30, 2016 8:09 am
Forum: Investing - Help with Personal Investments
Topic: Are REITS appropriate in a "buy and hold" portfolio?
Replies: 18
Views: 2920

Re: Are REITS appropriate in a "buy and hold" portfolio?

I think a lot of people hold their % allocation in addition to what is in their other holdings, ie. market weight.
by Pocket Cruiser
Sat Sep 24, 2016 6:21 pm
Forum: Investing - Help with Personal Investments
Topic: IRA CD question
Replies: 32
Views: 3470

Re: IRA CD question

I have recently become a big fan of Allan Roth, reading his book and many of his published articles. I really am interested in his idea of using fdic insured cd's for part of your fixed income. Obviously you get the most benefit by holding them within an IRA. Yes, I started following Allan's advice...
by Pocket Cruiser
Thu Jun 02, 2016 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: spreadsheet macro to track/chart daily porfolio value
Replies: 10
Views: 1239

Re: spreadsheet macro to track/chart daily porfolio value

Here is my anonymized Google Sheet: https://docs.google.com/spreadsheets/d/1tucWjoZByel7ObZg9X8anXiONvjFfsvRT866boX2T2E/edit#gid=32 The spreadsheet has two sheets (Daily AA & Historical). These sheets are called by name in the three linked scripts. To see the scripts (1) File > Make a copy of the s...
by Pocket Cruiser
Wed Jun 01, 2016 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: spreadsheet macro to track/chart daily porfolio value
Replies: 10
Views: 1239

Re: spreadsheet macro to track/chart daily porfolio value

Thanks for the responses.

That would be awesome BH13!
by Pocket Cruiser
Wed Jun 01, 2016 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: spreadsheet macro to track/chart daily porfolio value
Replies: 10
Views: 1239

spreadsheet macro to track/chart daily porfolio value

In one of the cells in my spreadsheet, I have the total current value of my portfolio, which changes throughout the day as prices change. I'd like to be able to see the changes in value of my total portfolio in a daily chart. Is there a way to do this in google finance? Is there maybe a macro that c...
by Pocket Cruiser
Sun Oct 25, 2015 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Purchased brokered CD - was it a mistake?
Replies: 9
Views: 3028

Re: Purchased brokered CD - was it a mistake?

You won't get the flight to safety in cds during a stock crash like you would in treasuries or bnd. However, both of those cds are yielding more than bnd (1.7%). If your main goal is safety of principal, the yield on those isn't bad.
by Pocket Cruiser
Sun Oct 11, 2015 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawal of solo 401k contribution deadline
Replies: 3
Views: 490

Re: Withdrawal of solo 401k contribution deadline

Thanks for the help Alan.

Yes it appears the low marginal rate was definately lost, because, as luck has it, this year there will be no FEIE, and; therefore, no credit.

Is there a way to NOT take the deduction and make it an after tax contribution?
by Pocket Cruiser
Sun Oct 11, 2015 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawal of solo 401k contribution deadline
Replies: 3
Views: 490

Withdrawal of solo 401k contribution deadline

CPA advises that pretax contributions aren't beneficial since most of US tax bill is wiped out by foreign tax credit from foreign earned income. It was something of a 6% tax savings now vs. 15-20%+ tax rate on withdrawals in retirement. My question is, what is the deadline and reporting requirements...
by Pocket Cruiser
Tue Apr 28, 2015 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

Re: DB and DC plan limits combined?

Below is the email I received today from the president of Pension Fund. Thanks for your question regarding the limit implications of Pension Plan contributions. As a “church plan” the Pension Plan of the Christian Church is technically a 403b as grandfathered in the ERISA legislation, even though it...
by Pocket Cruiser
Mon Apr 27, 2015 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: TSP contribution percentage
Replies: 4
Views: 1183

Re: TSP contribution percentage

An update to this. I tried bumping the amount to 92% again, and it actually deducted the full amount from the next check! However, in the notes section of the LES (leave and earnings statement), it said the percentage will be lowered to 85%. :confused I just got off the phone with the different offi...
by Pocket Cruiser
Sat Apr 25, 2015 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Roth TSP, traditional 401k, limits
Replies: 8
Views: 1254

Re: Roth TSP, traditional 401k, limits

Thanks Alan. I read some posts from an individual in another forum that said the bonus would be considered employer contributions. Is this information misguided? http://themilitarywallet.com/thrift-savings-plan-contribution-limits/ The TSP and 401k plans are under the same umbrella and share a max c...
by Pocket Cruiser
Sat Apr 25, 2015 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Roth TSP, traditional 401k, limits
Replies: 8
Views: 1254

Roth TSP, traditional 401k, limits

I'm a member of the reserve, and contribute about 6000 after tax to the Roth TSP. I also have a traditional 401k from my full time job that I want to put my remaining contributions in for 2015. The kicker is, I'll be getting a reenlistment bonus of 7500 this year, and I have it set up to go 100% int...
by Pocket Cruiser
Sun Apr 19, 2015 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Clergy 403b limit with housing allowance
Replies: 12
Views: 1656

Re: Clergy 403b limit with housing allowance

It wasn't mentioned explicitly, but I thought I'd make a point. There's a good argument for clergy to max their 403b before Roth, even when in lower tax brackets. The reason is that 403b distributions in retirement can be designated as housing allowance. Tax deferred becomes never taxed. So, HSA > ...
by Pocket Cruiser
Sat Apr 18, 2015 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Clergy 403b limit with housing allowance
Replies: 12
Views: 1656

Re: Clergy 403b limit with housing allowance

IRS Pub 517 gives the comprehensive explanation. A minister's contribution to a tax-deferred account is limited to her taxable income. In this case, that appears to be the $20,000 on the W2 plus $5,000 of excess housing allowance. The excess housing allowance is reported on line 7 as salary, even t...
by Pocket Cruiser
Sat Apr 18, 2015 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

Re: DB and DC plan limits combined?

How your FIL's situation differs from your wife's example, if it differs at all, I don't know. What I do know is that hundreds of teachers have posted here and I don't recall a single one saying that they had a reduced limit for how much they could contribute to their 403b accounts as a result of c...
by Pocket Cruiser
Sat Apr 18, 2015 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

Re: DB and DC plan limits combined?

I think your FIL's issue has to do with his pension contributions being pre-tax. I suspect your wife's pension contributions are not pre-tax. I worked at a job that had a pension and a separate 457b plan. The pension was mandatory. I had no choice whether or not to have that amount withheld. It was...
by Pocket Cruiser
Sat Apr 18, 2015 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

Re: DB and DC plan limits combined?

Thanks for the responses, especially retiredjg for taking the time to read through the website. Indeed,the wording is difficult to understand. I did not find what you quoted on their website. And I don't know how to interpret it. It certainly sounds like the way you read it - that the employee contr...
by Pocket Cruiser
Sat Apr 18, 2015 12:38 am
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

Re: DB and DC plan limits combined?

I don't know how to interpret what you quoted, but there are lots of people who are paying into a pension and also maxing out their work plan at $18k (more if 50 or over). I think we can say for pretty much sure that the law has not changed. But that doesn't tell us what his pension brochure means....
by Pocket Cruiser
Fri Apr 17, 2015 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: DB and DC plan limits combined?
Replies: 16
Views: 1855

DB and DC plan limits combined?

Pensionfund.org is the administrator of my FIL's retirement accounts. He was planning on maxing out his 403b this year, but from the following excerpt from the pension brochure, it seems the amounts that he contributes to the pension (7%) and to the 403b are combined and applied to the 18,000 (+ 600...
by Pocket Cruiser
Wed Apr 15, 2015 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Re: Taxation of inherited house in a trust

Thats good to know! Thanks again, Gill.

We'll see how the CPA works it.
by Pocket Cruiser
Wed Apr 15, 2015 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Re: Taxation of inherited house in a trust

Did the house title actually pass to your step grandmother? If that is so then I would think there would be a step up basis on the date of her passing. When your mother sold the house was an appraisal done? Or was an appraisal done when your step mother's passing? If yes to either that may be estab...
by Pocket Cruiser
Wed Apr 15, 2015 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Re: Taxation of inherited house in a trust

OK, that completely changes the answer. Your basis is the FMV in 2003 on his date of death. You need to arrive at that figure, possibly through an appraiser who can give you an appraisal as of that date. Yes, it became irrevocable at death but the assets of the trust are included in his estate and ...
by Pocket Cruiser
Wed Apr 15, 2015 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Re: Taxation of inherited house in a trust

OP - Are you sure it was place in an IRREVOCABLE trust by your grandfather? It makes a huge difference. If the trust was REVOCABLE then the basis would be stepped up to his DOD value but not if it was put in an irrevocable trust during his lifetime. Gill Gill, it was a revocable trust. I edited the...
by Pocket Cruiser
Wed Apr 15, 2015 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Re: Taxation of inherited house in a trust

Thanks for the responses.

So it seems there could actually be taxable gain - the original basis is probably quite low; bought in the early 70s.

They do have a CPA working on this. I was just wanting to get an idea on how this scenario would be handled.
by Pocket Cruiser
Wed Apr 15, 2015 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of inherited house in a trust
Replies: 14
Views: 989

Taxation of inherited house in a trust

My grandfather put his house inside a revocable trust in the 90s. He died in 2003. The trust was structured in a way that when he died, his wife, my step-grandmother, would be allowed to live there until her death. Then, the house would go to my mother. Well, step grandma died in 2013, and my mother...
by Pocket Cruiser
Tue Apr 07, 2015 7:53 pm
Forum: Investing - Help with Personal Investments
Topic: How to see protfolio allocation to EM
Replies: 3
Views: 479

Re: How to see protfolio allocation to EM

I would also consider the following from X-Ray to be emerging: Latin America Africa/Middle East Now that's a little bit closer to my allocation. But still not quite there. I also noticed, for example, with VTIAX (total international), Vanguard indicates 18.5% emerging markets, whereas, the Mornings...
by Pocket Cruiser
Tue Apr 07, 2015 7:34 pm
Forum: Investing - Help with Personal Investments
Topic: How to see protfolio allocation to EM
Replies: 3
Views: 479

How to see protfolio allocation to EM

Using X-Ray on Morningstar Portfolio Manager, under "World Regions", I can see percentages to Europe emerging and Asia emerging. Combining them does not add up to what I thought I had in emerging markets. I have a bunch of funds from an old managed account with high capital gains that I do not want ...
by Pocket Cruiser
Sun Apr 05, 2015 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Labeling contributions to solo 401k, where to take deduction
Replies: 5
Views: 1005

Re: Labeling contributions to solo 401k, where to take deduc

Thanks for the info. It's TD Ameritrade. There was no form, he just mailed a check for 57,500 with his account number written on it. He rolled over an old 401k into this plan, so that's why he had to file the 5500ez. His income was greater than 260k. Does it matter how he labels the contributions on...
by Pocket Cruiser
Sun Apr 05, 2015 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Labeling contributions to solo 401k, where to take deduction
Replies: 5
Views: 1005

Labeling contributions to solo 401k, where to take deduction

My father is a sole proprietor, and last year he set up and funded a solo 401k. He contributed the maximum amount of $ 57,500 . He needs to deduct this $57,500 contribution somewhere on his tax return. He has to submit form 5500-EZ Annual Return of One-Participant (Owners and Their Spouses) Retireme...
by Pocket Cruiser
Sat Mar 28, 2015 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: cash out refinance vs home equity loan for large purchases
Replies: 8
Views: 1803

cash out refinance vs home equity loan for large purchases

What type of loan would be best for funding large purchases like cars or boats? How do originating fees compare between the two as well as interest rates? What about a 401k loan or any other loan?