Search found 1387 matches

by trueblueky
Sat Jan 12, 2019 10:51 pm
Forum: Personal Consumer Issues
Topic: Anyone raised 3 kids WITHOUT buying a 3-row vehicle?
Replies: 82
Views: 5542

Re: Anyone raised 3 kids WITHOUT buying a 3-row vehicle?

When we were young, 4 kids, we managed with a Chevy Bel Air. No seat belts, metal all around. One of us could stand on the hump on the back floor and the younger ones could lay across the windowsill ledge behind the back seat. Oh, yeah, the dog too. That was me in the window sill on a cross-country...
by trueblueky
Sat Jan 12, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Changed withholding... Am I doing it right? Also: How to prioritize tax shelters when your tax rate maybe nil?
Replies: 6
Views: 432

Re: Changed withholding... Am I doing it right? Also: How to prioritize tax shelters when your tax rate maybe nil?

In this situation, socking away every dime you can in Roth IRAs should be priority #1. Money going in will not be federally taxed, and money pulled out will not be federally taxed either. Beyond that, finding the right mix of tax-deferred and taxable accounts will be more difficult. I suspect that ...
by trueblueky
Sat Jan 12, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1263

Re: Estimated tax penalty exceptions

michaeljc70 wrote:
Sat Jan 12, 2019 9:22 pm
I'd suggest not taking the PTC if you aren't sure you can qualify. You can get it when you file your taxes if you do qualify.
^^^
This.
by trueblueky
Sun Jan 06, 2019 8:15 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR 2019 BOGLEHEAD CONTEST [Entry deadline has passed]
Replies: 674
Views: 12456

Re: REGISTRATION FOR 2019 BOGLEHEAD CONTEST

2345.67
A little less than the current 52-week low.
by trueblueky
Fri Jan 04, 2019 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 273
Views: 44601

Re: Improving the TSP [for current participants]

MichDad, thanks for posting the meeting notes here; I wouldn’t hunt them down on my own. One item of interest to me is on page 4 where it says there will no longer be a deadline for full withdrawal/withdrawal plan at age 70.5. This reads as good news to me; hopefully it means we can start our RMDs ...
by trueblueky
Thu Jan 03, 2019 5:55 pm
Forum: Investing - Theory, News & General
Topic: 2018 Tax Law - Subtle LTCG Rate Calc Change
Replies: 4
Views: 840

Re: 2018 Tax Law - Subtle LTCG Rate Calc Change

Noted.

The next LTCG bracket is 15%, so for a $100 span, they're taxed heavier than ordinary income.
by trueblueky
Thu Jan 03, 2019 5:50 pm
Forum: Investing - Theory, News & General
Topic: 2019 Hedge Fund Contest
Replies: 147
Views: 6944

Re: 2019 Hedge Fund Contest

Name: mo4me

Long: A record 417 people running in the Iowa caucus boosts farm prices temporarily.
Kellogg K
Archer ADM

Short: losers!
Apple AAPL
Tesla TSLA
Wells Fargo WFC
by trueblueky
Wed Jan 02, 2019 10:56 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone on here a retired FED under FERS, in NY?
Replies: 7
Views: 447

Re: Anyone on here a retired FED under FERS, in NY?

You will receive a statement from OPM each year for tax purposes showing your gross annuity paid, which is the amount after the deduction for the surviving spouse annuity. The statement will show a small amount that is a deduction from the gross for tax purposes. This deduction is available due to ...
by trueblueky
Wed Jan 02, 2019 10:40 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Total BND vs Vanguard CA Muni Bond in taxable account
Replies: 4
Views: 707

Re: Vanguard Total BND vs Vanguard CA Muni Bond in taxable account

Do you have enough deductions that you itemize? Then reduce the taxable to 1 - .24 - .0989(1 -.24) to find the after-tax equivalent. Do you not itemize? Then reduce the taxable to 1 -.24 -.0989 to find the after-tax equivalent. Do you itemize, but it's limited by SALT, then somewhere between the two...
by trueblueky
Tue Jan 01, 2019 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Please review our portfolio + questions
Replies: 11
Views: 506

Re: Please review our portfolio + questions

Hi everyone and Happy New Year, My new year resolution is to take a hard look at our investments. After a lot of reading and research I have decided to join bogleheads.org and ask more experienced members for advice on our investing strategy. Basic info below. Emergency funds – approx. 12 months De...
by trueblueky
Thu Dec 27, 2018 10:40 pm
Forum: Investing - Theory, News & General
Topic: pentagon federal cd's are not cd's
Replies: 15
Views: 1541

Re: pentagon federal cd's are not cd's

At the rates they are currently offering there is no reason to buy them, alas. I can see that on the shorter term maturities but curious of where you’re finding a better 5 or 7 year option at 3.5%. Got money that I would only touch as a last resort and figure at that point I’d be happy to pay a cra...
by trueblueky
Tue Dec 25, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Are some insurance polcies philosophically similar to gambling?
Replies: 57
Views: 2894

Re: Are some insurance polcies philosophically similar to gambling?

When the Spanish flu comes along, or Cat V hurricanes hit Houston and Miami in the same month, your insurance company will call its insurance company. It's called reinsurance. Reinsurance works by diversification across many insurance companies, many localities, many hazards. And who does the reins...
by trueblueky
Tue Dec 25, 2018 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Are some insurance polcies philosophically similar to gambling?
Replies: 57
Views: 2894

Re: Are some insurance polcies philosophically similar to gambling?

The insurance companies are not gambling. Their intent is to have accurate figures for the frequency and expense of the events they are providing insurance for among the population they are insuring, and to charge enough to make it worth their while. There are foolish insurance products, but for th...
by trueblueky
Wed Dec 19, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 form 1040 released
Replies: 26
Views: 3499

Re: 2018 form 1040 released

Before this year, it was bad enough if I made one sale of something in my portfolio (i.e. sale of some shares in a mutual fund) which triggered Form 8949 and Schedule D. Now that sale will also trigger Schedule 1 which will show a single number two times. Yes, some other income sources will also tr...
by trueblueky
Wed Dec 19, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 form 1040 released
Replies: 26
Views: 3499

Re: 2018 form 1040 released

I've clicked through on the link to see the new 1040 form and schedules. Some of the new schedules are rather bizarre, because they are so short and contain so little information. For example, Form 1040 Schedule 2 has two lines to fill in (Alt Min Tax and Premium Tax Credit Repayment) and a total. ...
by trueblueky
Sat Dec 15, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: [How do I send my Qualified Charitable Distribution to a charity]?
Replies: 26
Views: 1387

Re: [How do I send my Qualified Charitable Distribution to a charity]?

https://www.irs.gov/newsroom/know-these ... e-donation

I don't see how checks you write on a VG account would count. A check of $250 or more is not acceptable as proof of a donation.
by trueblueky
Fri Dec 14, 2018 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 form 1040 released
Replies: 26
Views: 3499

Re: 2018 form 1040 released

SimonJester wrote:
Fri Dec 14, 2018 10:34 am
I still dont get the change in format to a 1/2 sheet vs full sheet.
Some people had promised that you would be able to file your taxes on a postcard. That's the genesis of the half sheet.

I want a large print version for our TaxAide clients. Maybe 8.5 x 11" .
by trueblueky
Sun Dec 09, 2018 8:44 pm
Forum: Investing - Help with Personal Investments
Topic: 20M Inheritance - What is best option for small/no risk on principal?
Replies: 93
Views: 12078

Re: 20M Inheritance - What is best option for small/no risk on principal?

What do people here think of hiring a JP Morgan, Morgan Stanley, Goldman Sachs type wealth adviser? Clearly that makes no sense if you don't have enough to benefit from their full suite of services (access to alternative investments, estate/tax planning, legal advice, customer service, etc.), but o...
by trueblueky
Sat Dec 08, 2018 8:45 pm
Forum: Investing - Theory, News & General
Topic: Tax ramification question
Replies: 12
Views: 1231

Re: Tax ramification question

The CPA is probably looking for a possible wash sale of something you sold in the prior year. Also, your statement is correct about taxes being due other than the possibility you may need to increase withholding or make estimated payments as a result of the sale. Gill Doesn't make sense. A wash sal...
by trueblueky
Wed Dec 05, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 3757

Re: Reuqesting Help With Managing of Winnings

From what I gather from online searches including a few links posted in this forum, it is Winnings = All Winnings - Total Entry Fees which would be a significant tax difference compared to All Winnings. All winnings doesn't make sense as no one would play because nearly every person that plays woul...
by trueblueky
Tue Dec 04, 2018 10:31 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab user. Where should I put my Emergency Fund?
Replies: 19
Views: 2024

Re: Schwab user. Where should I put my Emergency Fund?

Hi all, I use Schwab for my Roth and investments and I'm trying to decide where to keep my emergency fund. I bank with Bank of America and am realizing I should not be letting it just sit in my savings account. The only reason being it helps maintain preferred member status. What would be a simple ...
by trueblueky
Tue Dec 04, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 3757

Re: Reuqesting Help With Managing of Winnings

One other question. I just had an accountant tell me that since I would be making such a large payment to the IRS now for 2018, that they may charge me interest because I did not make those payments through the course of the year. I obviously did not know I would need to make those payments until r...
by trueblueky
Tue Dec 04, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 3757

Re: Reuqesting Help With Managing of Winnings

My current account balance stands at 125K and I plan on playing more. If my account balance dips to say 117K at the end of the year (Dec. 31). My taxable net winnings would be 117K final balance minus 17K that I put in; 100K is the amount I would pay taxes on? NOOOOO! Your account balance is for yo...
by trueblueky
Tue Dec 04, 2018 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5954

Re: Saving for Retirement when one has a Pension

Op most financial planners suggest 80% of present salary after retirement, with personal savings, retirement savings, Social Security and pension to supplant your wage income. Before I retired, I looked at my pay stubs item by item and asked: Will this change? Federal tax decreased State tax elimin...
by trueblueky
Sat Dec 01, 2018 6:46 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5954

Re: Saving for Retirement when one has a Pension

No answers, just questions; Is 55-60% enough for you? Only you can decide. Does the pension have annual inflation adjustments? That can be huge in a 30-year retirement. How certain is the pension? Federal, yes. State, depends on the state. Megacorp, less than 100%. Union, less than 100%. What is you...
by trueblueky
Fri Nov 30, 2018 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Basic Bucket Theory
Replies: 40
Views: 3929

Re: Basic Bucket Theory

We are using the lazy portfolio theory here and trying to think thru the bucket approach. Bucket 1: 2 years worth of living expenses invested in a money market. Bucket 2: 7 years worth of living expenses invested LifeStrategy 20/80 Bucket 3: 10 years of living money invested in LifeStrategy 60/40 B...
by trueblueky
Sun Nov 25, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Question in qualifying for an itemized return in 2018
Replies: 4
Views: 591

Re: Question in qualifying for an itemized return in 2018

Hello, I'm trying to get clarification on how I may qualify for an itemized return in order to deduct State/Local taxes and charitable contributions. File single. If I have 10K State/Local deduction and make a 3K charitable contribution, does the combined total count as exceeding the now 12K or mus...
by trueblueky
Sun Nov 25, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: SS and WEP [Social Security and Windfall Elimination Provision]
Replies: 15
Views: 1052

Re: SS and WEP

The documentation on the SSA site discusses GPO for employees of the government only, not schools. Anything she gets comes from a teacher's retirement fund. I don't know that this is considered a government job. Lexi: I'm aware that she isn't eligible to collect for both....just planning ahead for ...
by trueblueky
Sun Nov 25, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5670

Re: How do tax brackets work?

I fixed the spelling in the thread title "How to" to "How do". Here's an explanation: 2018 Tax Brackets: How They Work, Examples, & Myths from taxact,com. Look at the example under "How tax brackets work". The concept of paying tax on each additional dollar of income is explained in gory detail in ...
by trueblueky
Sat Nov 24, 2018 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much of SS goes into MAGI?
Replies: 22
Views: 1820

Re: How much of SS goes into MAGI?

The statement I just received from SS yesterday said that only tax exempt interest is added to AGI to arrive at MAGI. I was surprised because I believed the excluded portion of SS was added back. Gill Tax exempt interest is added to determine how much of your Social Security is taxed. This is a dif...
by trueblueky
Sat Nov 24, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 24019

Re: IRS publishes draft 2018 1040 - Huge changes made

I made the decision to have a CPA do my taxes this year after doing my taxes the old fashioned way (pencil to paper) for over 60 years. The problem with this is that they charge by the form, and it's one price fits all. Even a rather simple return can easily cost 1% of gross income for those in the...
by trueblueky
Sun Nov 18, 2018 4:54 pm
Forum: Personal Consumer Issues
Topic: My car was totaled. Do any of you have experience with this process?
Replies: 48
Views: 2962

Re: My car was totaled. Do any of you have experience with this process?

Many moons ago, my ten-year-old Chevy was wrecked while I was a grad student. I had paid $800 for it three years earlier. The drunk driver's insurance company offered me $250 saying it was totaled. I said I pay ad valorem tax on $550 and here are similar cars for sale in the newspaper for $500-600. ...
by trueblueky
Sat Nov 17, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: IRS announces 2019 Tax Rates, Standard Deduction, etc.
Replies: 27
Views: 5740

Re: IRS announces 2019 Tax Rates, Standard Deduction, etc.

It is important to note that these inflation adjustments are LESS THAN they would have been under the former rules, as the 2018 tax cut bill starts to be whittled down year by year leading up to 2026 when all of this sunsets. Of course, there is no guarantee that changes will not be passed well bef...
by trueblueky
Thu Nov 15, 2018 9:31 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA conversion and possible early withdrawl
Replies: 6
Views: 497

Re: Roth IRA conversion and possible early withdrawl

IRS Pub 590-B Chapter 2. Roth IRAs You must pay the 10% penalty if the distribution is within five years of the Roth conversion. Exceptions: Age 59 1/2 Buying first home Series of substantially equal withdrawals Used to buy first home Used for health insurance while unemployed Used to pay tuition Us...
by trueblueky
Wed Nov 07, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: RMD questions
Replies: 10
Views: 739

Re: RMD questions

You cannot combine the RMD from that inherited IRA with the others. Calculate each RMD separately. You may choose to take the combined RMD for the tIRA and SEP IRA from either. You must take the inherited IRA RMD from the inherited IRA. The calculation from the inherited IRA is different. Someone mu...
by trueblueky
Wed Nov 07, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: RMD questions
Replies: 10
Views: 739

Re: RMD questions

I will turn 70 towards the end of this year (2018). Question 1- According to the RMD for IRA Withdrawal calculator at Charles Schwab my first RMD is due in April 2020. The calculator states: You must take your first RMD by April 1 of the calendar year after you turn 701⁄2. Thereafter, you must take...
by trueblueky
Fri Nov 02, 2018 8:54 am
Forum: Investing - Theory, News & General
Topic: Bonds vs CDs
Replies: 39
Views: 4539

Re: Bonds vs CDs

Thank you all. Qns for you @trueblueky and @jeffyscott 1."And 1 year Treasury is at 2.67%, significantly better than that 11 month CD rate." How and where can I buy say $10K worth of 1 year treasuries? 2. "Three-month treasuries pay more and do not incur state income tax." - Same question as above ...
by trueblueky
Thu Nov 01, 2018 10:25 pm
Forum: Investing - Theory, News & General
Topic: Bonds vs CDs
Replies: 39
Views: 4539

Re: Bonds vs CDs

First post here. Ally Bank has a 2.1% No Penalty 11 month CD. How does this compare to Bonds? I haven't purchased Bonds before and am hoping to learn from more experienced investors about when to consider Bonds vs CDs. I expect interest rates will go up a bit again in 2019 but given the No Penalty ...
by trueblueky
Wed Oct 31, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Easy retirement income method.
Replies: 20
Views: 3859

Re: Easy retirement income method.

It seems one of the biggest risks of a probability SWR strategy is sequence of return. The problem arises when you are forced to sell stocks or bonds at a loss (market crashed, interest rates are rising). My idea is to set up my accounts to sweep all dividends and interest into my cash account. If ...
by trueblueky
Wed Oct 31, 2018 4:24 pm
Forum: Personal Consumer Issues
Topic: Good Non-Boring Boglehead Cars Under $30k
Replies: 247
Views: 17151

Re: Good Non-Boring Boglehead Cars Under $30k

Criteria: - Street price under $30k - Reliable - Fun driving dynamics (please no Corolla/Prius-type recommendations) - Support for Android Auto/Apple Carplay (either available now, or coming soon) - Can be new or used, but nothing over 3 years old What do you recommend? I recommend a boring car. * ...
by trueblueky
Wed Oct 31, 2018 4:17 pm
Forum: Personal Consumer Issues
Topic: USPS - Informed delivery - complain on missing items?
Replies: 53
Views: 3413

Re: USPS - Informed delivery - complain on missing items?

Our big complaint is they can't get hold mail right. A couple of months ago, I sent hold mail request thru the USPS website, received confirmation, said specifically "I will pick up hold mail" plus checked that box. Returned to find box crammed full with mail. Complained to postmaster. She said I co...
by trueblueky
Mon Oct 29, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Tax Long Term Gains and Short Term Losses
Replies: 4
Views: 481

Re: Capital Gains Tax Long Term Gains and Short Term Losses

Just based on general principle, why would one not always want to: 1) TLH any capital losses as soon as it's viable, short or long 2) Delay realizing any capital gains as long as possible, short or long Short term capital losses are only more valuable than long term if you have short term gains you...
by trueblueky
Sun Oct 28, 2018 9:28 pm
Forum: Investing - Help with Personal Investments
Topic: setting up a cd ladder
Replies: 10
Views: 1550

Re: setting up a cd ladder

hi, i want to set up a cd ladder. schwab has a 1 month cd at 1.96, 3 month at 2.11, 6 month at 2.3, 9 month at 2.45 and 12 month at 2.70. is there any spread i should look for, between the intervals that makes this a better way to figure which dates-/interest rates to choose? i was going to break t...
by trueblueky
Wed Oct 24, 2018 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: Lump sum pension vs. annual annuity
Replies: 12
Views: 1731

Re: Lump sum pension vs. annual annuity

www.immediateannuities.com will let you figure whether a lump sum or annuity is better. Put in the lump sum amount to see how much annuity that would buy.
by trueblueky
Wed Oct 24, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: What keeps you up at night?
Replies: 56
Views: 6179

Re: Retirees: What keeps you up at night?

We have enough. The kids have educations and jobs and the capability to have enough. We have $500,000 each in LTC insurance and good health insurance.

Lengthy Alzheimer care is something I worry about. Probably 25% chance for me given its prevalence on one side of my family. Less likely for DW.
by trueblueky
Tue Oct 23, 2018 5:41 pm
Forum: Investing - Theory, News & General
Topic: "Safe" Withdrawal Rate for Early Retirees (or any retiree)
Replies: 226
Views: 19822

Re: "Safe" Withdrawal Rate for Early Retirees (or any retiree)

You're making assumptions about what is going to happen. Maybe it will go the way you think, or maybe they will be inspired by the way things are done in some other countries and address the problem in a way that isn't good for you. "A bird in the hand" is a valid approach - you just take the money...
by trueblueky
Fri Oct 19, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and W2 from the same employer
Replies: 11
Views: 1129

Re: 1099 and W2 from the same employer

I've had a Tax Aide client who was W-2 for lawn care and 1099 for pest control with the same company. No reason to believe the IRS cared. Their computers could certainly see that both came from the same EIN every year. Dept of Labor might care. You will owe self-employment Medicare (plus SS if you h...
by trueblueky
Sat Oct 13, 2018 7:29 pm
Forum: Personal Consumer Issues
Topic: Lost Power for 24 hours - what food to toss?
Replies: 49
Views: 3569

Re: Lost Power for 24 hours - what food to toss?

Here's a cheap test for needed future outages: Freeze a cup of water now. Place a penny on it. When you open the freezer after a power outage, where is the penny? If it hasn't fallen to the bottom, your meat hasn't thawed. It seems easier to touch the meat to see if it has thawed. Say you were gone...
by trueblueky
Sat Oct 13, 2018 12:34 pm
Forum: Personal Consumer Issues
Topic: Lost Power for 24 hours - what food to toss?
Replies: 49
Views: 3569

Re: Lost Power for 24 hours - what food to toss?

Here's a cheap test for needed future outages:

Freeze a cup of water now. Place a penny on it. When you open the freezer after a power outage, where is the penny? If it hasn't fallen to the bottom, your meat hasn't thawed.