Search found 89 matches

by Megamill
Mon Sep 09, 2019 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Equifax breach settlement update?
Replies: 49
Views: 4812

Re: Equifax breach settlement update?

I had not responded previously on the Equifax situation, but got an email over the weekend soliciting my participation. The current status seems to be either (1) “up to” $125 cash, or (2) four years of free credit monitoring, followed by six more years of Equifax-only monitoring. We opted for door ...
by Megamill
Mon Sep 09, 2019 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Equifax breach settlement update?
Replies: 49
Views: 4812

Re: Equifax breach settlement update?

What about those who opt for the free credit monitoring? Does it just automatically kick in?
by Megamill
Sun Sep 08, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Equifax settlement: how to file claim?
Replies: 156
Views: 15738

Re: Equifax settlement: how to file claim?

DH and me were supposedly affected (after I entered the last 6 of our SS a couple weeks ago) so we both opted for the free monitoring service, but I just realized that we never received any follow up e-mail with next steps, etc. I did save a copy of the pdf summary for both of us, but still, shouldn...
by Megamill
Wed Aug 28, 2019 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: What makes your dream house so special?
Replies: 41
Views: 3468

Re: What makes your dream house so special?

Own outright (no mortgage) Walk-in closet in master Dual vanity, walk-in shower master bath First floor laundry Good size flat lot in SAFE area with the BEST neighbors Nobody behind us (conservancy behind back yard) Single story Finished dry basement with full bath, wet bar, extra living space and h...
by Megamill
Sun Aug 25, 2019 11:08 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

Thank you all for the very helpful info. For some reason I was over complicating all of this based on articles I have read about AOTC. One other question I just thought of...I have a bunch of iBonds that I don't have the total interest to date handy. I purchased them over the years with the intentio...
by Megamill
Sun Aug 25, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

Regarding payment schedules, some schools deliberately bill both semesters before December 31, (say Aug 8 deadline for fall, and Dec 8 deadline for the following spring) so you get two semesters paid in a single year. This lines up nicely with the 4 year limit to eligibility for AOTC. Good to know....
by Megamill
Sun Aug 25, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

There is a line that shows your total tax for the year. For 2018 1040 form, that is on line 15, called "total tax". If that is greater than than the credit amount ($2500 in the case of the AOTC), then you get the whole $2500 back. The fact that you may have had too much withheld does not change tha...
by Megamill
Sun Aug 25, 2019 8:45 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

The biggest issue with expecting a tax refund is not the interest-free loan (which is a trivial cost at today's rates) but the possibility that something goes wrong and your refund is delayed. I have had three state tax refunds delayed because of errors (two by the state, one by me). [/quote Good p...
by Megamill
Sun Aug 25, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

I think you might have a misunderstanding on how the tax credit works. It is credited against the entire tax bill for the year, not just what you owe at tax filing time. So, even if you over withheld, as long as you had sufficient total taxes due for the year, you will have the full amount credited...
by Megamill
Sun Aug 25, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

Re: How Best to Leverage AOTC When Usually Receive Tax Refund?

#3 just make sure you pay at least $4,000 out of pocket for every year you want to claim the AOTC. Can you explain why I would need to pay at least $4k out of pocket to claim the AOTC? Wouldn't the minimum you need to pay out of pocket be $2,500 (the max amount of AOTC)? Also, if you pay for the Fa...
by Megamill
Sat Aug 24, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Leverage AOTC When Usually Receive Tax Refund?
Replies: 15
Views: 722

How Best to Leverage AOTC When Usually Receive Tax Refund?

A couple questions for all who have claimed the AOTC for your kids' college tuition/expenses: 1. If DS starts first year of college in Fall of 2020, and we pay first semester tuition at that time, we'd be eligible for the credit when filing 2020 income tax, right? 2. We typically receive a fed tax r...
by Megamill
Wed Aug 07, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Is SS# Really Necessary on College App When No Financial Aid is Requested?
Replies: 7
Views: 520

Re: Is SS# Really Necessary on College App When No Financial Aid is Requested?

Ok, so if he skips it on the application, then there will be an opportunity to include it during the actual enrollment process?
by Megamill
Wed Aug 07, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Is SS# Really Necessary on College App When No Financial Aid is Requested?
Replies: 7
Views: 520

Is SS# Really Necessary on College App When No Financial Aid is Requested?

It's college application time for DS and I was just scanning through the application process instructions and there is a statement saying that although the applicant is not legally required to provide SS#, they are strongly encouraged to do so and that it's required when applying for financial aid o...
by Megamill
Tue Aug 06, 2019 7:25 am
Forum: Personal Investments
Topic: Is 0.30% Annual Fee on HSA Investment Account Reasonable?
Replies: 16
Views: 1306

Re: Is 0.30% Annual Fee on HSA Investment Account Reasonable?

Thanks all for the very helpful info. Lots of food for thought...
by Megamill
Mon Aug 05, 2019 3:25 pm
Forum: Personal Investments
Topic: Is 0.30% Annual Fee on HSA Investment Account Reasonable?
Replies: 16
Views: 1306

Re: Is 0.30% Annual Fee on HSA Investment Account Reasonable?

Ok, this is getting interesting...So are these the steps I would follow to leverage Fidelity's preferable management of HSA: 1. Ask my employer's HSA provider if I can make transfers out of it to another HSA and find out if there are fees to do this 2. If yes, then open an HSA at Fidelity 3. Do the ...
by Megamill
Sun Aug 04, 2019 2:40 pm
Forum: Personal Investments
Topic: Is 0.30% Annual Fee on HSA Investment Account Reasonable?
Replies: 16
Views: 1306

Re: Is 0.30% Annual Fee on HSA Investment Account Reasonable?

Is it enough of a ripoff to keep me from investing any of it? There are a few low cost Vanguard funds available (I was eyeing the 2030 target retirement fund @ 0.14% ER). Assuming I don't need the funds for another 5 to 10 years and plan to continually add to it each month...
by Megamill
Sun Aug 04, 2019 2:28 pm
Forum: Personal Investments
Topic: Is 0.30% Annual Fee on HSA Investment Account Reasonable?
Replies: 16
Views: 1306

Is 0.30% Annual Fee on HSA Investment Account Reasonable?

I have about $20k in my HSA not invested (yet). My HSA investment provider charges an annual fee of 0.30% (in addition to any of the mutual fund expense ratios). Is this extra fee pretty standard or is it a ripoff?
by Megamill
Wed Jul 31, 2019 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: How do you decide what car to buy for your kid
Replies: 91
Views: 4849

Re: How do you decide what car to buy for your kid

DH bought a 2006 Accord with 96k miles for 6k for DS on the coldest day of Winter (every school and practically every business was closed except this car place.) It was very well maintained as per the entire service history that was included in the paperwork. He will probably be able to put another ...
by Megamill
Wed Jul 31, 2019 10:19 am
Forum: Personal Investments
Topic: Help for a relative
Replies: 17
Views: 1545

Re: Help for a relative

Is there another friend/relative that she can live with and possibly do household chores in exchange for rent?
by Megamill
Thu May 09, 2019 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: ? about Roth 401k Segregation of Contributions & Growth
Replies: 11
Views: 824

Re: ? about ROTH 401k Segregation of Contributions & Growth

Yes it’s very confusing indeed. When I look at the screen that breaks out the sources it includes my contributions, both pre and post tax and employer match amount. I just want to be sure that all my Roth contributions and earnings are being correctly tracked to ensure clean rollovers to rIRA and tI...
by Megamill
Wed May 08, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Handling Stock Grants
Replies: 12
Views: 997

Re: Handling Stock Grants

Thanks for that link.

"When you later sell the shares, you will pay capital gains tax on any appreciation over the market price of the shares on the vesting date."

I think that answers my question.
by Megamill
Wed May 08, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Handling Stock Grants
Replies: 12
Views: 997

Re: Handling Stock Grants

For RSUs--how would they be taxed when sold (long after vest)? The withholding has already been taken and that's what confuses me because there will also be LTCG, right?
by Megamill
Wed May 08, 2019 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Handling Stock Grants
Replies: 12
Views: 997

Re: Handling Stock Grants

For those of you that choose to hold some of the company stock grants (and watch them grow), when you finally do sell, how are taxes calculated? (Please explain as if to a caveman :happy )
by Megamill
Tue May 07, 2019 8:13 am
Forum: Personal Finance (Not Investing)
Topic: ? about Roth 401k Segregation of Contributions & Growth
Replies: 11
Views: 824

Re: ? about ROTH 401k Segregation of Contributions & Growth

Thanks! So when it's time for the rollover, I presume that the 401k provider will know that there will be 2 rollover "paths", one to tIRA and the other to rIRA, right?
by Megamill
Tue May 07, 2019 8:02 am
Forum: Personal Finance (Not Investing)
Topic: ? about Roth 401k Segregation of Contributions & Growth
Replies: 11
Views: 824

Re: ? about ROTH 401k Segregation of Contributions & Growth

Yes, I know the screen that shows Account Activity (contributions, dividends, etc) and the sources, but are they also keeping track of the actual growth (and not just the contributions)?
by Megamill
Tue May 07, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: ? about Roth 401k Segregation of Contributions & Growth
Replies: 11
Views: 824

? about Roth 401k Segregation of Contributions & Growth

Can someone explain (as if to a caveman) how a 401k provider knows how much gets rolled over to a roth IRA and how much to a traditional IRA when the time comes to do a rollover? My employer started offering the roth 401k option just a few years ago so the lion's share of my 401k is in pre-tax. Curr...
by Megamill
Thu Apr 05, 2018 9:30 pm
Forum: Personal Investments
Topic: Are Callable CD's For Real?
Replies: 6
Views: 1106

Re: Are Callable CD's For Real?

Sure, they are as real as flying pink elephants. Red flags - earn 17% with no risk of principal. - can not advertise this product, exclusive only product. - Financial advisor - aka salesman - Liquid - “are you interested in earning even more money than our current special based on past performance”...
by Megamill
Thu Apr 05, 2018 9:06 pm
Forum: Personal Investments
Topic: Are Callable CD's For Real?
Replies: 6
Views: 1106

Are Callable CD's For Real?

After a lost decade of our cash earning the same rate that the under belly of the average mattress yields, DH and I finally visited a local financial institution that was running a 19 mo CD special rate of 2.10% APY. And as the kind woman was processing everything and listening to us tell her how si...
by Megamill
Sun Mar 11, 2018 9:32 am
Forum: Personal Investments
Topic: How to fund a CD with online bank??
Replies: 10
Views: 1198

Re: How to fund a CD with online bank??

Also, I would set up a checking account at Ally, since this will be handy for all cash inflows and outflows. I would transfer the cash from the external bank into the checking account, then fund the CD from the checking account. Then when the CD matures, you can have the proceeds deposited into the...
by Megamill
Sat Mar 10, 2018 5:08 pm
Forum: Personal Investments
Topic: How to fund a CD with online bank??
Replies: 10
Views: 1198

Re: How to fund a CD with online bank??

nice find! thanks!
by Megamill
Sat Mar 10, 2018 5:01 pm
Forum: Personal Investments
Topic: How to fund a CD with online bank??
Replies: 10
Views: 1198

How to fund a CD with online bank??

Ok, I checked Ally Bank's website and they have a FAQ page and opening an account (savings, checking, or CD) seems pretty straight forward and fast, but how does one actually fund the account? Do you have to mail a paper check in?
by Megamill
Sat Mar 10, 2018 4:28 pm
Forum: Personal Investments
Topic: Are Deposits in Credit Unions "Safe"?
Replies: 6
Views: 611

Re: Are Deposits in Credit Unions "Safe"?

wow! good to know. thank you.
by Megamill
Sat Mar 10, 2018 4:26 pm
Forum: Personal Investments
Topic: Are Deposits in Credit Unions "Safe"?
Replies: 6
Views: 611

Re: Are Deposits in Credit Unions "Safe"?

thank you for the quick responses. I will check into the NCUA insurance.
by Megamill
Sat Mar 10, 2018 4:19 pm
Forum: Personal Investments
Topic: Are Deposits in Credit Unions "Safe"?
Replies: 6
Views: 611

Are Deposits in Credit Unions "Safe"?

Anybody here have CD's or savings accounts with a credit union? I've never had an account with a CU and always thought they were kind of odd but what do I know? There is a local one that is advertising CD specials: 19 mo @ 2.10 apy, 25 mo @ 2.25 apy. DH and I are old school, so probably won't ever c...
by Megamill
Sat Mar 10, 2018 2:52 pm
Forum: Personal Investments
Topic: 1-2 year investment suggestions
Replies: 9
Views: 1186

Re: 1-2 year investment suggestions

Hello Bogleheads - I'm considering options for what to do with a six figure sum of cash (this is a taxable account, not retirement). We would like to have access to this cash in roughly 1-2 years, but definitely not before then. So we're looking to park the money somewhere where it won't just lose ...
by Megamill
Wed Mar 07, 2018 11:20 am
Forum: Personal Investments
Topic: I Bond Golden Egg and Asset Allocation
Replies: 15
Views: 2109

Re: I Bond Golden Egg and Asset Allocation

I have been tremendously lucky and have been gifted a golden egg of an I Bond: a fall 2000 bond of 10,000 currently valued at 27,000 On the one hand, I see no reason to sell this rock solid investment and am happy for it to keep on generating 6% interest per year til 2030. Disable smilies On the ot...
by Megamill
Wed Mar 07, 2018 10:08 am
Forum: Personal Investments
Topic: I Bond Golden Egg and Asset Allocation
Replies: 15
Views: 2109

Re: I Bond Golden Egg and Asset Allocation

I have been tremendously lucky and have been gifted a golden egg of an I Bond: a fall 2000 bond of 10,000 currently valued at 27,000 On the one hand, I see no reason to sell this rock solid investment and am happy for it to keep on generating 6% interest per year til 2030. Disable smilies On the ot...
by Megamill
Wed Mar 07, 2018 9:16 am
Forum: Personal Investments
Topic: Is SWPPX considered "tax efficient" for UTMA?
Replies: 3
Views: 436

Is SWPPX considered "tax efficient" for UTMA?

Would Schwab S&P 500 Index fund be considered tax efficient per BH standards? This would be in a UTMA brokerage account that kids would take over when they're on their own.
by Megamill
Sun Feb 11, 2018 11:11 am
Forum: Personal Investments
Topic: College 2020
Replies: 4
Views: 736

College 2020

Our oldest kiddo will be done with HS in 2020 and I never opened 529's because I just hated all the restrictions. I have i-bonds and UTMA accts for my kiddos, though which will probably cover the first year of tuition. We do have quite a bit of cash in regular (non-retirement) stupid savings account...