Search found 197 matches

by afr
Sun Feb 21, 2021 4:47 pm
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

So as long as I have a rep at Vanguard recharacterize our $7000 Roth IRA contributions to our TIRA's, file our individual 8606's with our returns, we're all golden? No harm,no foul?
by afr
Sun Feb 21, 2021 10:45 am
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

Just an fyi; we completed our returns but haven't filed them yet. Not sure if that matters.
by afr
Sun Feb 21, 2021 8:57 am
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

So we just got finished completing our taxes and our AGI was $204,350. We both contributed $7000 each to our Roth IRA's in 2020. Looking at the Roth IRA contribution tables, the max contributions for 50 and over are $1400 for MFJ/MAGI of $204,000 and max cont. of $700 for MFJ/MAGI of $205,000. Not s...
by afr
Fri Feb 19, 2021 7:45 pm
Forum: Personal Investments
Topic: taxable account recommendations for a 23 year old
Replies: 8
Views: 862

taxable account recommendations for a 23 year old

Hi

My 23 y.o. daughter works for a fintech co.(maxes her 401k and RothIRA contributions) but wants to add a taxable account. Any recommendations? I told her to save her extra $$$ in online savings account in order to purchase stock options for when her place of employment goes public. Am I wrong?
by afr
Sun Feb 14, 2021 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Can I deduct 100% of my medical premiums?
Replies: 4
Views: 507

Re: Can I deduct 100% of my medical premiums?

earlyout wrote: Sun Feb 14, 2021 2:54 pm Health insurance premiums can only be included on schedule A as a medical expense. The fact that you employer does not provide health insurance does not matter.
He does provide medical benefits to employees who are on the clock.
by afr
Sun Feb 14, 2021 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can I deduct 100% of my medical premiums?
Replies: 4
Views: 507

Can I deduct 100% of my medical premiums?

I work as a W-2 but do not receive any medical benefits at my place of employment and hence pay 100% of our premium(my wife also is a W-2 and receives no medical benes thru her employer). Since I'm responsible for paying our premiums 100% using after tax $$$, wouldn't I be permitted to deduct the en...
by afr
Sun Jan 03, 2021 10:41 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

afr wrote: Mon Jul 13, 2020 9:45 am
afr wrote: Sun Jul 12, 2020 12:45 pm
niceguy7376 wrote: Sun Jul 12, 2020 12:09 pm I would rather do taxable than contribute to non-deductible trad ira.
You could have contributed to the mortgage and be done with it instead of doing non-deductible trad ira
Could you please explain your rationale?
Bump
niceguy7376
Could you please explain your rationale?

Thanks
by afr
Sat Jan 02, 2021 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

Bump. As of now, we're down to just under 143k principal balance remaining on our current mortgage. We are planning to sell our townhome in 7 yrs. Third Federal is offering a 10 yr. fixed@2.79% w/$295 closing cost. But the APR is 2.83%. That I don't quite get if they are claiming only the $295 closi...
by afr
Fri Jan 01, 2021 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

Have you given thought to the home refi? If you have great credit and a good income to debt ratio, you should be able to get somewhere around 2.75% 30-year at no cost. Yes, this lengthens the term, so you would either continue the existing payment amount or pay that extra to the car loan until you ...
by afr
Fri Jan 01, 2021 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

Have you given thought to the home refi? If you have great credit and a good income to debt ratio, you should be able to get somewhere around 2.75% 30-year at no cost. Yes, this lengthens the term, so you would either continue the existing payment amount or pay that extra to the car loan until you ...
by afr
Fri Jan 01, 2021 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

How much emergency fund do you actually need? I don’t think I would have taken out a 13,900 loan with 45k in the bank in the first place... So our monthly expenses amount to a little less than $7500/month. Currently have 52k sitting in our online account@0.5%. $8900 remaining on the auto loan@1.99%...
by afr
Fri Jan 01, 2021 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

How much emergency fund do you actually need? I don’t think I would have taken out a 13,900 loan with 45k in the bank in the first place... So our monthly expenses amount to a little less than $7500/month. Currently have 52k sitting in our online account@0.5%. $8900 remaining on the auto loan@1.99%...
by afr
Thu Nov 12, 2020 9:04 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

So we've been using Verizon Fios for internet(200Mbps@$39.99/mo.)and landline phone($20/mo.) and Hulu Live w/o ads($65/mo incl. tax). All told about $125/mo. Works great. Previously spending $245/mo. Our mobile phone plan(4 phones) is w/ATT and costs $170/mo.incl. taxes/fees. Don't know if I can do...
by afr
Sat Nov 07, 2020 3:30 pm
Forum: Personal Consumer Issues
Topic: How do YOU handle home security [alarm systems]
Replies: 89
Views: 6681

Re: How do YOU handle home security [alarm systems]

We've been with Vector(local office nearby) hardwired system window,doors and basement motion detector costs us $29.95/mo. Very responsive when we've tripped it accidentally. Reside in a reasonably low crime suburban town.
by afr
Sat Nov 07, 2020 10:57 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

So we've been using Verizon Fios for internet(200Mbps@$39.99/mo.)and landline phone($20/mo.) and Hulu Live w/o ads($65/mo incl. tax). All told about $125/mo. Works great. Previously spending $245/mo. Our mobile phone plan(4 phones) is w/ATT and costs $170/mo.incl. taxes/fees. Don't know if I can do...
by afr
Sat Nov 07, 2020 10:40 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

Traditional landline
by afr
Sat Nov 07, 2020 9:16 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

I live outside Philly so pro sports are kinda irrelavant and unwatchable. Mainly watch college football/basketball. And we need a landline phone for our home security system.
by afr
Sat Nov 07, 2020 8:53 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

So we've been using Verizon Fios for internet(200Mbps@$39.99/mo.)and landline phone($20/mo.) and Hulu Live w/o ads($65/mo incl. tax). All told about $125/mo. Works great. Previously spending $245/mo. Our mobile phone plan(4 phones) is w/ATT and costs $170/mo.incl. taxes/fees. Don't know if I can do ...
by afr
Sat Oct 17, 2020 8:27 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

But what about digital voice thru my Verizon landline that I wish to keep? Doesn't that require a Fios router?
by afr
Sat Oct 17, 2020 6:41 am
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Re: Verizon Fios internet

I already have the ONT box in my basement that Verizon installed. My current Fios G1100 router is connected via coax cable and ethernet to the ONT box. If I'm also keeping my landline phone will that be affected?
by afr
Fri Oct 16, 2020 5:42 pm
Forum: Personal Consumer Issues
Topic: Verizon Fios internet
Replies: 28
Views: 2483

Verizon Fios internet

So I'm dropping cable TV and going to internet only with Verizon. Going to use Hulu live. We do have a Verizon land-line phone(for security system) and wanted to know if I could stop renting the G1100 router for $12/mo. and use my Arris SURFboard SB6183 instead. Anyone know if its possible?
by afr
Sat Sep 26, 2020 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Re: Pay off auto loan?

Thank you all for the replies. There is no prepayment penalty and I'll probably just continue making the monthly payments.
by afr
Sat Sep 26, 2020 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Pay off auto loan?
Replies: 23
Views: 1727

Pay off auto loan?

I currently have $10,100 remaining on an auto loan of $13,900@1.99% originating on 2/2/2020. Our only other debt is our home mortgage($145k left on a 233k 30 yr note@4%). Our home is currently worth around 350k and we plan to move in 7 yrs. Our online savings is at 0.6% interest and was curious if i...
by afr
Mon Aug 31, 2020 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: New 10 yr term life policy for a 60 yr old?
Replies: 15
Views: 1697

Re: New 10 yr term life policy for a 60 yr old?

Probably gonna cost me slightly north of $1500/yr.
by afr
Mon Aug 31, 2020 11:36 am
Forum: Personal Finance (Not Investing)
Topic: New 10 yr term life policy for a 60 yr old?
Replies: 15
Views: 1697

Re: New 10 yr term life policy for a 60 yr old?

Any recommendation as to where to look for decent rates and insco(if that's even possible)?
by afr
Mon Jul 20, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: New 10 yr term life policy for a 60 yr old?
Replies: 15
Views: 1697

New 10 yr term life policy for a 60 yr old?

My wife and I had 30 yr term policies w/First Colony(that reached maturity)and that I just extended(ie. overpaid for mine) for 6 more months and did the same for my wife's much smaller and considerably less expensive policy. I'm 60 and she's 55. Our only debts are a mortgage w/a remaining balance of...
by afr
Sat Jul 18, 2020 3:44 pm
Forum: Personal Consumer Issues
Topic: what is your weekly workout routine?
Replies: 112
Views: 12370

Re: what is your weekly workout routine?

60 yrs old-workout every 3-4 days depending how I feel, sometimes going to 5 days-all 1 set to failure 10-12 reps on average-use a Powertec leverage unit-stick to an all bodybuilding exercise routine-5’8” 185 w/~10bf leg extensions leg curls cable pullovers pec flyes side raises tricep pushdowns cab...
by afr
Fri Jul 17, 2020 2:32 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Re: Wish to retire in 7 yrs. and request financial advice

I'm hoping to have the mortgage paid off(or close to it), no more life($1200/yr), disability($2300/yr) or malpractice($1500/yr) insurance. Auto insurance is currently $2800/yr and medical is $1340/month(though I'm assuming mine will decrease somewhat when I qualify for Medicare in 5 yrs; will have t...
by afr
Thu Jul 16, 2020 5:24 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Re: Wish to retire in 7 yrs. and request financial advice

You have monthly expenses of $5K. What are your annual expenses going to be in retirement - will you sell your home, take medicare, vacations/hobbies, etc? What will your SS income be? What are your irregular expenses? This is a major factor in your ability to retire. $60K/yr of spending is going t...
by afr
Thu Jul 16, 2020 4:22 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Re: Wish to retire in 7 yrs. and request financial advice

My monthly NET varies but averaged about $12,000(in 2019) and my wife is about $2200/mo. Currently, not even close for me. My last biweekly check was for $2200. Same as my wife. Though I'm still receiving the federal $600/wk bump til the end of July. Our current monthly expenses- IRA contributions-$...
by afr
Thu Jul 16, 2020 3:37 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Re: Wish to retire in 7 yrs. and request financial advice

2019 our MAGI was $245,000. I max out my 401k and our IRA's. My 2019 basis was $66,000 and my wife's was $53,000. Our income is going to be significantly lower this yr. since we were both on UE for a few months. Our current monthly expenses- mortgage-$2008(includes escrow and extra $500 principal pa...
by afr
Thu Jul 16, 2020 3:11 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Re: Wish to retire in 7 yrs. and request financial advice

What about the funds that we have? Would you advise any changes?
by afr
Thu Jul 16, 2020 2:03 pm
Forum: Personal Investments
Topic: Wish to retire in 7 yrs. and request financial advice
Replies: 15
Views: 1947

Wish to retire in 7 yrs. and request financial advice

Hi, I'm currently 60 yrs. old(wife is 55) and would like to retire in 7 yrs. We had a very late start due to a poor business decision I had made-Vanguard accounts TIRA(non-deductible)-STAR-$132,000/wife-$104,000(we both max yearly) ROTH IRA(started when we qualified and will contribute towards this ...
by afr
Mon Jul 13, 2020 9:45 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

afr wrote: Sun Jul 12, 2020 12:45 pm
niceguy7376 wrote: Sun Jul 12, 2020 12:09 pm I would rather do taxable than contribute to non-deductible trad ira.
You could have contributed to the mortgage and be done with it instead of doing non-deductible trad ira
Could you please explain your rationale?
Bump
by afr
Sun Jul 12, 2020 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

10-year notes are weird. You may have more luck getting a 15-year or a 30-year note. Nothing will stop you from paying down the principal at any rate you are capable of. +1 15 year rates are much more of a competitive commodity. Go with the 15 year and pay it off in 10. I have found the rates at am...
by afr
Sun Jul 12, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

niceguy7376 wrote: Sun Jul 12, 2020 12:09 pm I would rather do taxable than contribute to non-deductible trad ira.
You could have contributed to the mortgage and be done with it instead of doing non-deductible trad ira
Could you please explain your rationale?
by afr
Sun Jul 12, 2020 11:51 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

That combined income is pretax(we're both W-2's) and neither of us receives medical benefits(I'm 60, she's 55). I contribute to an unmatched 401k in addition to maxing out our TIRA's You didnt ask but I am curious if you are talking about Deductible or Non Deductible Trad IRAs since you mentioned 2...
by afr
Sun Jul 12, 2020 10:56 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

have a balance of just under 150k on the original note. both employed(combined gross over 250k) yet can't find a bank willing to give us a zero cost 10 yr loan under 3%. There is probably nothing in it for the bank to do a zero cost loan with so low rates. What if you sell in 3 months? And with $25...
by afr
Sun Jul 12, 2020 10:10 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

Re: difficulty finding no-cost 10 yr mortgage refi

Look into Third Federal if they offer re-fis in your state. In my location they have a 10 year fixed at 2.82% with a flat rate closing cost of $295. Search this site too. Many have reported good experiences. Thanks. Checked them out but still going to cost over $2400 with all the other fees. $295 i...
by afr
Sun Jul 12, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: difficulty finding no-cost 10 yr mortgage refi
Replies: 30
Views: 1768

difficulty finding no-cost 10 yr mortgage refi

Hi, My wife and I are 7 yrs into a 233k,30 yr fixed mortgage@4%. We've been making an extra 500/mo principal payment since the beginning and have a balance of just under 150k on the original note. Our home is worth approx. 350k(townhouse) We both have excellent credit, are both employed(combined gro...
by afr
Mon Jun 29, 2020 12:46 pm
Forum: Personal Consumer Issues
Topic: Pilot, Highlander or CX-9
Replies: 73
Views: 7293

Re: Pilot, Highlander or CX-9

My '13 MX-5 has absolutely no blind spots, with the top down that is. That may a few yrs. off for the OP though. We had an '04(leased) and and '08 Pilot that lasted us over 170k mi. until my wife downsized. The VTEC is an excellent engine but other parts started nickel and dime us. I believe the Jap...
by afr
Sun Jun 28, 2020 2:29 pm
Forum: Personal Investments
Topic: change funds?
Replies: 6
Views: 381

Re: change funds?

My wife and I also have a joint taxable account-VTSAX,VMLTX,VGHCX,VTIAX and VEXAX
by afr
Sun Jun 28, 2020 1:42 pm
Forum: Personal Investments
Topic: change funds?
Replies: 6
Views: 381

Re: change funds?

Wellington has a lower expense ratio,slightly higher stock%,lower % in bonds and a small % in short term reserve compared to the STAR fund
by afr
Sun Jun 28, 2020 11:28 am
Forum: Personal Investments
Topic: change funds?
Replies: 6
Views: 381

change funds?

Hi. My wife and both have TIRA's(and smaller Roth IRA's) in Vanguard's STAR fund. With 7 yrs to go before I plan to retire(wife in 11), would it be wise to move out of the STAR into a different fund such as the Wellington or something else?
by afr
Sat Jun 27, 2020 11:57 am
Forum: Personal Consumer Issues
Topic: roof attic fan
Replies: 42
Views: 2686

Re: roof attic fan

Appreciate the replies. Since I have the soffit vents at the front and rear of my townhouse and a passive ridge vent, I'm most likely just going to leave the fan as is, nonfunctioning.
by afr
Fri Jun 26, 2020 8:39 am
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

Yeah. I’d love to be able to do a back door conversion but too costly for us due to pro rata
by afr
Fri Jun 26, 2020 6:05 am
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

So if I go ahead and make contributions to our Roth IRA accounts this year then I won't have to submit an 8606 when filing our taxes next year, correct?
by afr
Mon Jun 22, 2020 6:24 pm
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

My basis is 66k and current TIRA value 128k Wifey's basis is 53 and current TIRA value is 100k.
by afr
Mon Jun 22, 2020 3:45 pm
Forum: Personal Investments
Topic: Roth or TIRA contribution this year?
Replies: 18
Views: 1073

Re: Roth or TIRA contribution this year?

That'd be a no go. Its a pooled office account that I have absolutely zero control over. Its either participate or not. Its managed by Raymond James and is roughly 60% equity/40% fixed.