Search found 158 matches

by desertbandit442
Tue Apr 10, 2012 7:32 am
Forum: Personal Finance (Not Investing)
Topic: estimated tax help
Replies: 10
Views: 1444

Re: estimated tax help

Yes you can file estimated taxes, even if you don't have to. I would because you are also going to be paying self-employment tax on the 1099 consulting work. If you don't want to write a big check come tax time pay the quarterly taxes.
by desertbandit442
Sat Apr 07, 2012 4:45 pm
Forum: Personal Investments
Topic: RMD's over lifeof IRA
Replies: 16
Views: 2005

Re: RMD's over lifeof IRA

Thanks for the replies. To answer the questions: I do have other assets, a primary residence and a rental income property. Also have some funds outside of my IRA and ROTH, in IBonds and CDs. There is a significant other, J, who has her own house and IRA. When she retires in 2-3 years she will sell ...
by desertbandit442
Sat Apr 07, 2012 4:44 am
Forum: Personal Investments
Topic: 2nd Opinion on Whole Life [for Investing]
Replies: 12
Views: 1086

Re: 2nd Opinion on Whole Life [for Investing]

Term life only for insurance, invest rest on your own in index funds. I second the post above, get out of it while you can--chalk it up to lesson learned.
by desertbandit442
Sat Apr 07, 2012 4:40 am
Forum: Personal Investments
Topic: RMD's over lifeof IRA
Replies: 16
Views: 2005

Re: RMD's over lifeof IRA

Some more pieces of the puzzle would be is there a spouse or not? Have you started taking SS yet or waiting until age 70? Personal experience observations: My Dad slowed down significantly after about 80, stayed mainly at home until he passed away at 85. My Father-in-Law slowed down significantly at...
by desertbandit442
Fri Mar 30, 2012 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: "Massive" credit card security breach
Replies: 20
Views: 2437

Re: "Massive" credit card security breach

Go to big 3 credit report companies, report suspected identy theft, and put in fraud alert with them. This is supposed to keep someone from opening new credit under your name. Cancel the credit card compromised and get a new one issued if you need a credit card.
by desertbandit442
Fri Mar 30, 2012 10:47 am
Forum: Personal Consumer Issues
Topic: [POLL] How many miles on your car?
Replies: 141
Views: 10801

Re: [POLL] How many miles on your car?

2002 Jeep Wrangler - 186,000. My plan is 25 years or 500,000 for da jeep.

Wife: 2008 Dodge Charger - 36,000.

Here's what contributes to the higher average age:

Back-up: 1990 Mazda Miata - 96,000

Hauling to dump: 1993 Chevy S-10 - ???? miles (odometer no workie)
by desertbandit442
Fri Mar 30, 2012 10:04 am
Forum: Personal Investments
Topic: All Conflicting Here - Stock vs Bond % vs AGE!
Replies: 38
Views: 2867

Re: All Conflicting Here - Stock vs Bond % vs AGE!

Just do it. I look at Mr. Bogle's guideline as age in bonds as an overall "comfortable" starting point, especially if your not sure what, or why, for AA. Everyone's circumstances and life events are different, and occur at different times. Adjust your AA from age in bonds once you have a well though...
by desertbandit442
Sun Mar 25, 2012 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why does anyone use American Express?
Replies: 146
Views: 292398

Re: Why does anyone use American Express?

I apologize for somewhat hijacking the thread. Delta Sky-miles card on their website does not give free companion ticket as some posters have mentioned. Would you be kind enough to let us know which Amex card gives you free baggage check and a free companion ticket every year? Thanks. I didn't say ...
by desertbandit442
Sun Mar 25, 2012 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Why does anyone use American Express?
Replies: 146
Views: 292398

Re: Why does anyone use American Express?

gerntz wrote:The free baggage check & free companion plane ticket each year more than covers the cost fee - and then some.
Same here. We travel (fly) 3-4 times a year and use the companion plane ticket each year, free baggage check and airline miles. My last flight cost $10 using miles.
by desertbandit442
Sat Mar 24, 2012 3:12 pm
Forum: Investing - Theory, News & General
Topic: Single Most Valuable Thing
Replies: 50
Views: 3874

Re: Single Most Valuable Thing

Once you learn to save :dollar investing is easy :moneybag
by desertbandit442
Sat Mar 24, 2012 8:54 am
Forum: Investing - Theory, News & General
Topic: no retirement plan offered at work---what other options?
Replies: 8
Views: 1031

Re: no retirement plan offered at work---what other options?

OK--maybe I'm missing something here? I am sure someone will straighten me out if I am. This person can contribute to a Traditional IRA and receive a full deduction if no employer plan is offered and the person is single. Also you didn't say if this person was married or not? If married and spouse a...
by desertbandit442
Sat Mar 24, 2012 8:12 am
Forum: Personal Investments
Topic: Traditional IRA
Replies: 8
Views: 821

Re: Traditional IRA

You may want to evaluate whether making such contributions is more beneficial than simply keeping the funds in a taxable account. In one case, the distributions are taxed at ordinary income rates; in the other, possibly capital gains rates. Also unless you successfully do a backdoor Roth conversion...
by desertbandit442
Thu Mar 22, 2012 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Makes Me Glad I am a Member of a Credit Union
Replies: 32
Views: 3144

Re: Makes Me Glad I am a Member of a Credit Union

I'm not sure why this article would make you glad to be a member of a credit union, any more than it would make you glad to be a customer of a rival bank. JT Banks seem to try to "nickle and dime" you to squeeze every "cent" they can for their bottom line, whereas credit union members are part of t...
by desertbandit442
Thu Mar 22, 2012 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Makes Me Glad I am a Member of a Credit Union
Replies: 32
Views: 3144

Makes Me Glad I am a Member of a Credit Union

Found this link for an article in the Rolling Stone, "Too Crooked to Fail" on Bank of America to be pretty interesting: http://www.rollingstone.com/politics/ne ... l-20120314

Makes me glad that I have been a member of a credit union since 1982.
by desertbandit442
Thu Mar 22, 2012 10:16 am
Forum: Personal Investments
Topic: Should I start an IRA if I'm not maxing my 401k?
Replies: 13
Views: 1371

Re: Should I start an IRA if I'm not maxing my 401k?

General guidelines I have read about and follow that seem to work well: 1.) 401k up to employer match, then 2.) Traditional IRA up to the amount that is tax deductible on your return, then 3.) Roth IRA 4.) After maxing out Traditional/Roth IRA, then put rest of money that you can to maxing out 401K
by desertbandit442
Thu Mar 22, 2012 7:10 am
Forum: Personal Investments
Topic: Funding IRAs and 401k
Replies: 12
Views: 1461

Re: Funding IRAs and 401k

General guidelines I have read about and follow that seem to work well: 1.) 401k up to employer match, then 2.) Traditional IRA up to the amount that is tax deductible on your return, then 3.) Roth IRA 4.) After maxing out Traditional/Roth IRA, then put rest of money that you can to maxing out 401K
by desertbandit442
Wed Mar 21, 2012 7:55 am
Forum: Investing - Theory, News & General
Topic: Military Investing
Replies: 125
Views: 60110

Re: Military Investing

Yes, this is a good deal. I used my GI bill for a masters in aeronautical science while on active duty, then after retirement I used the rest of my GI bill for a masters in education to use up all my GI bill benefits. After retirement from active duty I received my regular retirement pay, plus the G...
by desertbandit442
Sat Mar 10, 2012 8:09 am
Forum: Personal Investments
Topic: New Investor Roth Question
Replies: 12
Views: 947

Re: New Investor Roth Question

First off I just wanted to thank everyone on this site for the wealth of information they have given me while I have been lurking the past few weeks. I am a 22 year old and I was finally hired somewhere after graduating college. It is a government office that has a pension plan that I am contributi...
by desertbandit442
Thu Mar 08, 2012 11:10 am
Forum: Personal Investments
Topic: Tax question, Roth and tIRA
Replies: 5
Views: 1447

Re: Tax question, Roth and tIRA

Hi Spork: A TIRA may not be your best choice. If you are in a low 15% income tax bracket, and expect your tax rate to be higher at withdrawal, it is nearly always better to pay the tax on Roth contributions now and never pay tax again. This IRA Calculator may help you decide which IRA is best: http...
by desertbandit442
Thu Mar 08, 2012 10:58 am
Forum: Personal Investments
Topic: Where to invest emergency funds
Replies: 9
Views: 1858

Re: Where to invest emergency funds

For THE emergency fund, I keep mine at a local credit union (NCUA insured) in an insured money management account that pays 0.55% for accounts more than $25,000. My opinion is safety is an absolute must for your real emergency fund (I use about six months living expenses). I would think about almost...
by desertbandit442
Tue Mar 06, 2012 4:39 pm
Forum: Investing - Theory, News & General
Topic: Why not be a real Boglehead
Replies: 69
Views: 5923

Re: Why not be a real Boglehead

I understood you to say all you had to do was deal with two brokerage houses in your previous post. I am not saying the number of FUNDS themselves matter, if that's what you want to do. That's all I ever said. I never said anything about holding them at different mutual fund companies or brokerages...
by desertbandit442
Mon Mar 05, 2012 7:28 pm
Forum: Investing - Theory, News & General
Topic: Why not be a real Boglehead
Replies: 69
Views: 5923

Re: Why not be a real Boglehead

That's what I was saying. He had numerous mutual funds (close to 75) spread over 16 different mutual fund companies. You're moving goal posts. No one said anything about multiple brokerages. I asked what difference it made how many FUNDS I held. Not accounts. Not anything else. Brian I understood y...
by desertbandit442
Mon Mar 05, 2012 4:35 pm
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

It's Monday and I haven't called the IRS yet. I have a feeling I know what the answer would be. I researched a lot of the IRS pubs and looked at "tax experts" sites/forums. It is not a "gray" area, it is more of a "big black hole." It seems this debate has been raging for years--yes it is, no it doe...
by desertbandit442
Mon Mar 05, 2012 2:55 pm
Forum: Investing - Theory, News & General
Topic: Why not be a real Boglehead
Replies: 69
Views: 5923

Re: Why not be a real Boglehead

Once you've been an executor for an estate, you should then understand. My Dad had mutual funds with 16 different mutual fund companies and 33 individual stocks (That was his view of diversification?) I was the personal representative for his estate. It would of been a nightmare for someone without...
by desertbandit442
Mon Mar 05, 2012 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone not depending on social security when they retire?
Replies: 93
Views: 6623

Re: Is anyone not depending on social security when they ret

desertbandit442 wrote:
HardKnocker wrote:I'm going to use Social Security to pay for my cable TV service. If it's enough.
My sentiments too
To expand--gave me a good chuckle this morning. Would be nice if it covered the phone/internet/cable package plus cell phone w/o data package and maybe HBO thrown in :beer
by desertbandit442
Mon Mar 05, 2012 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone not depending on social security when they retire?
Replies: 93
Views: 6623

Re: Is anyone not depending on social security when they ret

HardKnocker wrote:I'm going to use Social Security to pay for my cable TV service. If it's enough.
My sentiments too
by desertbandit442
Mon Mar 05, 2012 8:09 am
Forum: Personal Investments
Topic: State tax and US govt interest;
Replies: 7
Views: 606

Re: State tax and US govt interest;

To check, make sure you are putting your 1099-Int from US gov obligations in Box 3 and not Box 1 when you are inputting the data. If that doesn't fix it, then problem with link between Federal to State.
by desertbandit442
Mon Mar 05, 2012 7:44 am
Forum: Investing - Theory, News & General
Topic: Why not be a real Boglehead
Replies: 69
Views: 5923

Re: Why not be a real Boglehead

I think it might in retirement with regards to spouse/heirs that might not have knowledge/interest in the investment world; simpler could be better. I don't understand. What difference does it make whether I have ten holdings or three? Brian Agree. If your allocation percentages are in line with yo...
by desertbandit442
Sun Mar 04, 2012 5:27 pm
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

Here is an article from a NJ attorney saying that an executor's commission is earned income: http://www.eldercarelawyer.com/articles/estates/compsensation-for-executor.html . Thanks GregLee. That is pretty much how I see it also. I have searched other tax sites and there are "arguments" both ways. ...
by desertbandit442
Sun Mar 04, 2012 5:20 pm
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

pshonore - Thanks for your response and the reference. I had knowledge of that, but the problem is as you said "it is strictly a guess." I am strictly guessing also. There is no real clear-cut guidance as to "earned income." Examples are given of what is and what isn't, but executor fees are not a ...
by desertbandit442
Sun Mar 04, 2012 5:03 pm
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

tfb wrote:
desertbandit442 wrote:I have substituted in the public school system and worked for a national tax prep chain in past years to generate "earned income" in order to met the requirement for funding our Roth IRAs.
Do you earn $12,000 from these?
No, 8-10 that I put into Roth's
by desertbandit442
Sun Mar 04, 2012 11:47 am
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

If you read IRS publication 590 (which is available on the IRS web site), you will find that the term earned income is not what you need to consider. Eligibility to contribute is based on the term compensation. There is a fairly lengthy discussion of the term compensation in the IRS pub. Thank You ...
by desertbandit442
Sun Mar 04, 2012 10:52 am
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Re: Questions on "Generating" earned income to fund Roth IRA

pshonore - Thanks for your response and the reference. I had knowledge of that, but the problem is as you said "it is strictly a guess." I am strictly guessing also. There is no real clear-cut guidance as to "earned income." Examples are given of what is and what isn't, but executor fees are not a s...
by desertbandit442
Sun Mar 04, 2012 8:19 am
Forum: Personal Investments
Topic: Questions on "Generating" earned income to fund Roth IRAs
Replies: 21
Views: 2579

Questions on "Generating" earned income to fund Roth IRAs

My wife and I are both retired, but I am still "obsessed" with funding our Roth IRAs (6,000 each this year). I have substituted in the public school system and worked for a national tax prep chain in past years to generate "earned income" in order to met the requirement for funding our Roth IRAs. Th...
by desertbandit442
Sat Mar 03, 2012 10:52 am
Forum: Investing - Theory, News & General
Topic: Why not be a real Boglehead
Replies: 69
Views: 5923

Re: Why not be a real Boglehead

I don't find "simplicity" to be an important factor. In these days of electronic tracking and aggregating spreadsheets, having multiple funds just isn't much of a concern. I developed my asset allocation before I ever found this site, and I have uncovered no reason to make changes based on some ide...
by desertbandit442
Sat Mar 03, 2012 9:55 am
Forum: Personal Investments
Topic: Thoughts about risk-taking
Replies: 23
Views: 1474

Re: Thoughts about risk-taking

Is this thinking too far out in left field? Nope. That's a tiered Asset allocation, where you section off parts of your total portfolio because you need different amounts for different time horizons. Lots of people do that. Just don't over think it. Thanks, I've just seen a lot written about 60/40 ...
by desertbandit442
Sat Mar 03, 2012 9:04 am
Forum: Personal Investments
Topic: Thoughts about risk-taking
Replies: 23
Views: 1474

Re: Thoughts about risk-taking

I'm of the opinion that at some point far along the wealth curve, it makes sense to start taking more risk. Someone with $5m? Well, he doesn't need to take much risk. He's secure, but wouldn't be if he lost a chunk of it. Someone with $100m? She can lose half of it and it makes no difference. She h...
by desertbandit442
Sat Mar 03, 2012 7:52 am
Forum: Personal Investments
Topic: Is a correction coming?
Replies: 43
Views: 3793

Re: Is a correction coming?

Yes; therefore, DCA.
by desertbandit442
Sat Mar 03, 2012 7:48 am
Forum: Personal Investments
Topic: How to advise my father
Replies: 12
Views: 1664

Re: How to advise my father

I agree with most of the others. Even though it goes against what we would do, it is working for him and he is comfortable with the stocks. At this point, Let it Be--it's not like he is invested in "Enron."
by desertbandit442
Tue Feb 28, 2012 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Saving for a Child's Education
Replies: 16
Views: 1482

Re: Saving for a Child's Education

I have heard the advice that goes something like this; "Your children will thank you more in the end if they don't have to worry about/help you financially in your later years than if you pay for their college."
by desertbandit442
Tue Feb 28, 2012 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Saving for a Child's Education
Replies: 16
Views: 1482

Re: Saving for a Child's Education

DTSC wrote:Most people here recommend 1) paying off debt, 2) funding retirement, then 3) funding children's education. You can borrow for college, but no one will lend you money to retire.
A big Amen.
by desertbandit442
Tue Feb 28, 2012 7:41 am
Forum: Investing - Theory, News & General
Topic: Military Investing
Replies: 125
Views: 60110

Re: Military Investing

This is just food for thought on actual investing for military if you are planning on staying at least the 20 years and obtain the military retirement pay. I didn't/don't worry a great deal about the AA (asset allocation) rules of thumb you may hear about regarding stock/bond portfolio, because the ...
by desertbandit442
Tue Feb 28, 2012 6:49 am
Forum: Investing - Theory, News & General
Topic: Military Investing
Replies: 125
Views: 60110

Re: Insurance

I retired from active duty Air Force last year after 34+ years... I suggest keeping SGLI while still in... over the course of my career it increased coverage at minimal cost. While perhaps not optimal now, it has the possiblity of getting there through future increases. Also, I found the best deals...
by desertbandit442
Mon Feb 27, 2012 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Talking personal finance
Replies: 37
Views: 4087

Re: Talking personal finance

pchela wrote:Many people believe in their own truth and don't take any advice. Giving personal finance advice is pointless until it's asked.
So True, and it's usually way to late. Either they are way in debt, or within a year or two of retirement and want to know what miracle advice you have for them.
by desertbandit442
Mon Feb 27, 2012 7:30 am
Forum: Personal Investments
Topic: Young military family- how to set ourselves up for success
Replies: 6
Views: 739

Re: Young military family- how to set ourselves up for succe

Thank you for the replies so far...especially the military thread link! Very informative. To the previous poster in regard to my not currently working...I taught elementary school until our son was born. If I was to have continued working, our son would have had to be in full time day care. The cos...
by desertbandit442
Sun Feb 26, 2012 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Talking personal finance
Replies: 37
Views: 4087

Re: Talking personal finance

Most people I know "...can't handle the truth." You gotta spend less than you make!
by desertbandit442
Sun Feb 26, 2012 10:14 am
Forum: Personal Investments
Topic: Boglehead moral support for struggling newbie with lump sum
Replies: 15
Views: 1356

Re: Boglehead moral support for struggling newbie with lump

This is a plan I used for a lump sum to DCA an inheritance. Take your lump sum and invest over a 5 year period. So if you had a $100,000 lump sum, invest $20,000 a year in the market. I've been in the market since 1982 and have noticed in general the "Santa Claus" effect, where the markets tend to g...
by desertbandit442
Sun Feb 26, 2012 9:29 am
Forum: Personal Investments
Topic: Young military family- how to set ourselves up for success
Replies: 6
Views: 739

Re: Young military family- how to set ourselves up for succe

Kck07, Welcome to the site. I am retired military and the key is to start early, like you are doing. Always fully fund your Roth IRA every year! Keep your emergency fund in place, stay out of debt and then, invest regularly in a good index fund or two. I use Vanguard index funds--Total Stock Market ...
by desertbandit442
Wed Feb 22, 2012 8:48 am
Forum: Investing - Theory, News & General
Topic: "Can you sum-up your investing philosophy in 10 words?"
Replies: 120
Views: 9595

Re: "Can you sum-up your investing philosophy in 10 words?"

INDEX investing, annual checkup, and let it ride baby ride!