Search found 4224 matches

by cherijoh
Wed Dec 20, 2017 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

If the personal exemption is suspended, what is the tax benefit of claiming my children as the dependent? Please enlightened me. Instead of a ~$4000 exemption, which reduces taxes by $1000 at 25% marginal rate, you get $2000 child tax credit, so roughly $1000 less in income taxes per child. Or a fl...
by cherijoh
Wed Dec 20, 2017 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

I'm assuming y'all would think that doing Roth conversions to the top of the new 12% bracket is a no-brainer. I'm wondering if I should do some additional converting at the 22% rate? One problem, though, is my state income tax rate is 9%. Any thoughts, folks? Getting into the 22% marginal zone will...
by cherijoh
Wed Dec 20, 2017 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

Folks, If the personal exemption is suspended, what is the tax benefit of claiming my children as the dependent? Please enlightened me. KlangFool The bigger child tax credit, which is now $2000 instead of $1000 and applies to married couples up to 400k and individuals up to 200k. It takes the combi...
by cherijoh
Wed Dec 20, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

You will be hard pressed to set up a DAF and get it funded for 2017 at this point. It might work if you already have funds in the same place as you are setting up your DAF. Or have you already set up the account? That wasn't clear to me from your post. At Fidelity, it takes about five minutes to se...
by cherijoh
Wed Dec 20, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

Folks, As per my understanding, I should donate to the charity now for whatever amount that I budgeted for next year. This is true if my total itemized deduction for 2018 will not exceed the new standard deduction limit. Please confirm. KlangFool Yep, that's my understanding. I'm currently consider...
by cherijoh
Wed Dec 20, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

... Did anyone else notice the differences between single and MFJ rates? ... For some time, the joint brackets were double the width of the single brackets for the lower brackets. That will now be the case up through the 24% bracket. That will allow more IRA owners filing joint returns to convert w...
by cherijoh
Wed Dec 20, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

This is a good personal summary of tax changes for individuals. https://www.kitces.com/blog/final-gop-tax-plan-summary-tcja-2017-individual-tax-brackets-pass-through-strategies/ Did anyone else notice the differences between single and MFJ rates? Kitces has a horizontal bar chart on ~ page 5 of thi...
by cherijoh
Wed Dec 20, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 878
Views: 48589

Re: Tax Bill Omnibus Thread

My personal situation/Strategy Feel free to add constructive criticism.. might help someone else.. State Tax - 9k Prop Tax - 3k subtotal 12k (will be limited to 10k in 2018) Mort Interest - 6k charity -15k --------- Total deductions 2017 - 33k Total deductions 2018 - 31k 2018 - 31k more than 24k st...
by cherijoh
Tue Dec 19, 2017 3:37 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 114
Views: 8937

Re: Best 401k Employer Match Structure

I am setting up a 401k for my employees. I am looking for an employer match structure that would be well-received by employees. New hires will generally receive offers with compensation between $120,000 and $140,000 per year and can expect increases of 5% to 10% per year. Obviously the "the sky is ...
by cherijoh
Mon Dec 18, 2017 6:27 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall and Personal Retirement
Replies: 18
Views: 3527

Re: Windfall and Personal Retirement

Hello! I'm here for a small piece of advice. Background: 35 years old. receive a windfall of $220,000 (after paying of all debts aside from a monthly mortgage) The money is in a trust which I have full control over. My current CFA has suggested based on my age that 100% invested be in stocks. It ha...
by cherijoh
Mon Dec 18, 2017 4:52 pm
Forum: Personal Consumer Issues
Topic: New job offer - background check
Replies: 140
Views: 7397

Re: New job offer - background check

Thanks all. I will tell the recruiter that I cannot give notice at my current job until I have been informed that all checks and other conditions of the offer are clear. I am not going to bring anything up. If the recruiter asks if anything may come up in the check that concerns me, I am going to b...
by cherijoh
Fri Dec 15, 2017 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: baffle about Roth IRA contribution using turbo tax
Replies: 19
Views: 925

Re: baffle about Roth IRA contribution using turbo tax

Sorry if I am confusing you and also confusing myself :( Gross amount income is $90000 On tax return, I will contribute $6500 to a Roth IRA When figuring out how much tax I need to pay, will the taxable income be based on $90000 or $96500? I thought it would be $96500 as I read that with Roth IRA y...
by cherijoh
Fri Dec 15, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Ineligible Roth IRA Contributions - Recharacterization?
Replies: 7
Views: 465

Re: Accidental Ineligible Roth IRA Contributions - Recharacterization?

Due to income over the maximum allowed for direct Roth IRA contributions, my wife and I have been funding Backdoor Roth IRAs for the past few years. Well, this year we hit a bit of a snag with my wife's account. My wife attempted to contribute to the Traditional (Non-Deductible) IRA that she has at...
by cherijoh
Fri Dec 15, 2017 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: Changing companies and what to do w pretax retirement funds
Replies: 10
Views: 595

Re: Changing companies and what to do w pretax retirement funds

I am looking for advice from others on what to do. My company is getting absorbed by another one and we have retirement plans that likely will be dissolved (Cash Balance Plan and 401k). I've made only pretax contributions to the 401k and the Cash Balance Plan is treated as pretax as well. My option...
by cherijoh
Tue Dec 12, 2017 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Gift Card From Employer
Replies: 13
Views: 1417

Re: Gift Card From Employer

Soon2BXProgrammer wrote:
Tue Dec 12, 2017 9:04 am
This is the same for my megacorp, however they gross up the paystub with the "supplemental withholding rate" and FICA.
Yeah mine does too.
by cherijoh
Tue Dec 12, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Gift Card From Employer
Replies: 13
Views: 1417

Re: Gift Card From Employer

Reportable income by recipient and/or business expense by donor? Today I arrived at my local Costco store fifteen minutes prior to the normal opening hour of 10am thinking I could get in early ahead of the crowd to get new reading glasses. Upon arrival I was amazed to see virtually the entire parki...
by cherijoh
Fri Dec 08, 2017 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

You seem to be focusing in on college costs at the expense of all else. Are you prepared to be retired permanently? At your ages, you may find it very difficult to get a full-time, well-paying job after 8 years of minimal part-time work. So my advice would be to make darned sure that you have a ver...
by cherijoh
Thu Dec 07, 2017 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: 112K pension- need help w/the rest
Replies: 26
Views: 2494

Re: 112K pension- need help w/the rest

This is my "wisdom" which is apparently NOT conventional. :D The argument that a pension shouldn't change your AA is incomprehensible to me. If you have a pension providing X income and your expenses are less than X how can that not let you tolerate more risk in your AA? To the extent it doesn't co...
by cherijoh
Thu Dec 07, 2017 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 149
Views: 16677

Re: A good friend has nearly $1M in BitCoin what do I tell him?

I doubt you're going to convince him, and it may just annoy him since it's unsolicited. His perspective is off though. He doesn't have 10K in Bitcoin anymore. He has $1M. Every day, he is making the decision of whether he wants to have $1M (or whatever the current valuation is) invested in Bitcoin....
by cherijoh
Thu Dec 07, 2017 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

You seem to be focusing in on college costs at the expense of all else. Are you prepared to be retired permanently? At your ages, you may find it very difficult to get a full-time, well-paying job after 8 years of minimal part-time work. So my advice would be to make darned sure that you have a very...
by cherijoh
Thu Dec 07, 2017 8:08 pm
Forum: Investing - Help with Personal Investments
Topic: First post from this retiree with questions - my daughter sent me here!
Replies: 34
Views: 3967

Re: First post from this retiree with questions - my daughter sent me here!

I calculate you can probably spend withdraw $2,500 per month for the rest of your life from your retirement accounts. Would $2,000 plus the monthly income you receive provide a nice retirement for you? If so, you are in good shape. How did you calculate $30k per year from retirement accounts of $46...
by cherijoh
Wed Dec 06, 2017 8:47 pm
Forum: Personal Consumer Issues
Topic: Do people still use AAA?
Replies: 242
Views: 15612

Re: Do people still use AAA?

I still use them. I subscribe to the "plus" level for the increased 100 mile towing range (considering where we live and like to drive, hopefully we will never need it, but it's good to know it won't cost me an arm and a leg to get my vehicle back to a repair shop). We used AAA twice over the last ...
by cherijoh
Tue Dec 05, 2017 7:37 am
Forum: Investing - Help with Personal Investments
Topic: Is it possible to create 3 fund portfolio with these 401k options?
Replies: 6
Views: 382

Re: Is it possible to create 3 fund portfolio with these 401k options?

Hi again! I'm trying to reduce fees and create a three fund portfolio within my 401k. The target date fund options from T Rowe price all have a 0.74 expense ratio, so I want to avoid those. I'm confident that the international stock and bond option can be accomplished with my options of Vanguard To...
by cherijoh
Wed Nov 29, 2017 1:41 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7634

Re: Does it make sense to drop health insurance?

I was in a similar situation to yours and decided to self-insure. If the ACA had been in force, it would have actually made the decision to self insure easier. My understanding is that the worst case scenario is that you have to pay your expenses until Jan 1 after the next open enrollment period. W...
by cherijoh
Wed Nov 29, 2017 1:19 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7634

Re: Does it make sense to drop health insurance?

"My question is: Is my family at the point where it is rational to forego coverage?" Have you priced a catastrophic plan that would protect you on the very high side of medical costs? That's the question I'd have. We could pay the $150 office visits and $900 every 3 month insulin pump supplies, but...
by cherijoh
Wed Nov 29, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Interviewing at a former employer, should I give them my current salary when they ask?
Replies: 94
Views: 6311

Re: Interviewing at a former employer, should I give them my current salary when they ask?

In some cases it's harmless. They never would have paid what you were looking for anyways. I know what they can pay before I will even talk to them. If I don't it's not worth my time. Which is why employers should provide the salary range they are willing to pay when posting a job in the first plac...
by cherijoh
Wed Nov 22, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12339

Re: Help DW gets fired, but then next day her boss offers her job back

quantAndHold wrote:
Wed Nov 22, 2017 2:53 am
And training her own replacement? [OT comment removed by moderator prudent]
Actually it is all too common - especially when jobs are off-shored.
by cherijoh
Wed Nov 22, 2017 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12339

Re: Help DW gets fired, but then next day her boss offers her job back

It was VERBAL :annoyed She'll no doubt need something in writing for unemployment, and Employer might not want to do that, so this situation might change for that reason alone. RM Pardon my ignorance why would she need something in writing and why wouldn't employer want to do that? When the economy...
by cherijoh
Tue Nov 21, 2017 3:52 pm
Forum: Personal Consumer Issues
Topic: LED Lightbulbs - Recommended Brands
Replies: 48
Views: 3014

Re: LED Lightbulbs - Recommended Brands

I installed a Phillips 3 way bulb this week. Immediately it became a 2 way bulb as one option burned out. I have had good luck with Phillips 3-way bulbs. Are you sure that you tightened the bulb properly? I have found that this is very important for both CFLs and LEDs. I have 6 large globe bulbs in...
by cherijoh
Tue Nov 21, 2017 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: Concerned parent :(
Replies: 56
Views: 7444

Re: Concerned parent :(

Thanks everyone !! What I can hear from most of you are to open a 529 plan. My concern is if there occurs any urgent family emergency situation and I need money, then we should be able to take from this account. but with 529 plan, we can't right ? So that directs me to ask - What is your opinion ab...
by cherijoh
Tue Nov 21, 2017 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Asset location in retirement (stocks)?
Replies: 9
Views: 885

Re: Asset location in retirement (stocks)?

Up until this year my Roth was 100% stocks with all my bonds in either my Rollover IRA or my 401k. But as I get closer to retirement I decided to reduce my overall allocation to stocks. For the first time I decided to include some bonds in my Roth account - it now has an 80/20 AA. My traditional ac...
by cherijoh
Tue Nov 21, 2017 7:39 am
Forum: Investing - Help with Personal Investments
Topic: Reducing Costs with 401k with Fidelity
Replies: 10
Views: 1072

Re: Reducing Costs with 401k with Fidelity

Check out this quick investopedia article on Commingled Funds: https://www.investopedia.com/terms/c/commingledfund.asp The short version is that commingled funds are not registered with the SEC, so they have less reporting requirements and therefore, usually, lower fees. They have no public symbols...
by cherijoh
Mon Nov 20, 2017 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Asset location in retirement (stocks)?
Replies: 9
Views: 885

Re: Asset location in retirement (stocks)?

Up until this year my Roth was 100% stocks with all my bonds in either my Rollover IRA or my 401k. But as I get closer to retirement I decided to reduce my overall allocation to stocks. For the first time I decided to include some bonds in my Roth account - it now has an 80/20 AA. My traditional acc...
by cherijoh
Mon Nov 20, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Year end windfall and job loss
Replies: 16
Views: 2482

Re: Year end windfall and job loss

Assumptions - over a million in investible assets (retirement + taxable), no debt except mortgage (if I pay off personal loan), 3 month emergency fund. It will take about 4-6 months to find a new job ( May/June 2018) How did you arrive at the 4 - 6 month estimate for her to find a new job? How long...
by cherijoh
Sun Nov 19, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: The valet smashed my Tesla into a brick wall!
Replies: 108
Views: 13197

Re: The valet smashed my Tesla into a brick wall!

Since the car is so new, can you ask the insurance company to replace it with another new one? They can then deal with getting "their car" repaired. By the time they pay for repairs to your car and compensate you for diminished value, it might not make much difference to them. I think Tesla is some...
by cherijoh
Sat Nov 18, 2017 9:16 am
Forum: Investing - Help with Personal Investments
Topic: RMD account
Replies: 16
Views: 1421

Re: RMD account

Hitting your RMD to the exact dollar is challenging unless you distribute some cash since mutual fund values change every day, and specific securities change value constantly. You cannot be sure exactly when the distribution will be processed and the value recorded, and therefore there will likely ...
by cherijoh
Sat Nov 18, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Help with Understanding How to Handle Bonus
Replies: 51
Views: 4273

Re: Help with Understanding How to Handle Bonus

It usually takes at least 1 - 2 pay periods for a new contribution level to take effect. So OP needs to jump on changing the contributions if he/she wants to have some impact before the end of the year. My bonus for 2017 will be paid out in 2018 :annoyed - But at least it makes for easier tax plann...
by cherijoh
Fri Nov 17, 2017 11:39 pm
Forum: Investing - Help with Personal Investments
Topic: Confused about cash and retirement - isn't this really about market timing?
Replies: 38
Views: 3232

Re: Confused about cash and retirement - isn't this really about market timing?

I'm just starting to think retirement strategy. I've seen numerous posts where folks advocate keeping significant chunks of their portfolios in cash as they head toward retirement. I must be missing something. I've relied on dollar cost averaging throughout my working life. I've invested in index f...
by cherijoh
Fri Nov 17, 2017 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Understanding How to Handle Bonus
Replies: 51
Views: 4273

Re: Help with Understanding How to Handle Bonus

Really appreciate all of the feedback. These are older loans at 6.5% (the one we just paid off was at 7.5%--yikes!), so we just want to get rid of them. And we can't deduct the interest unfortunately. So I think the plan is going to be not to overthink this, go to dinner with the wife to celebrate,...
by cherijoh
Fri Nov 17, 2017 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Understanding How to Handle Bonus
Replies: 51
Views: 4273

Re: Help with Understanding How to Handle Bonus

Slight twist to the above: I would boost your 401k contributions for 2017 to a higher level. How many paychecks do you have left this year - 3 ? Hold onto the bonus money. Dip into it IF needed for Nov/Dec. In January 2018, Whatever money is left from the bonus at that point, put it towards the stu...
by cherijoh
Fri Nov 17, 2017 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Refinance 30yr to 15yr mortgage?
Replies: 33
Views: 3361

Re: Refinance 30yr to 15yr mortgage?

Just finished the "Bogleheads Guide to Investing" book and was intrigued, so now I am new to these forums. I have so many questions... I currently have a rental property in a good area, easy to rent, etc. It's a 30yr loan at 3.5%, original balance was $270k. Currently, the principal balance is at $...
by cherijoh
Fri Nov 17, 2017 7:20 am
Forum: Personal Finance (Not Investing)
Topic: RE sale: long close vs. bird-in-hand
Replies: 28
Views: 2086

Re: RE sale: long close vs. bird-in-hand

I'm a Seattle area homeowner and can't imagine taking Option A. They want to buy a year from now, live in it 6 months, sell their current home first. The only reason to consider such terms would be in a horrible market, with a undesirable home. And you're looking to hedge this bad deal with options...
by cherijoh
Thu Nov 16, 2017 10:53 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with my Taxable Equity Portfolio to be used as a Bridge in 3 Years?
Replies: 6
Views: 543

Re: What to do with my Taxable Equity Portfolio to be used as a Bridge in 3 Years?

View everything as one portfolio. If you want to sell bonds, you can still do that even though your taxable account is all stock; sell the stock, and move an equal amount in your IRA from bonds to stock. You keep your stock exposure, just as if you had the bonds to sell. That plan works well when y...
by cherijoh
Thu Nov 16, 2017 10:53 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with my Taxable Equity Portfolio to be used as a Bridge in 3 Years?
Replies: 6
Views: 543

Re: What to do with my Taxable Equity Portfolio to be used as a Bridge in 3 Years?

View everything as one portfolio. If you want to sell bonds, you can still do that even though your taxable account is all stock; sell the stock, and move an equal amount in your IRA from bonds to stock. You keep your stock exposure, just as if you had the bonds to sell. That plan works well when y...
by cherijoh
Thu Nov 16, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: Managing 401k after Job Change
Replies: 16
Views: 1277

Re: Managing 401k after Job Change

It seems strange that there's no ex-U.S. total market fund in your old 401k, but you can get that from Brokeragelink if needed, or rollover into your new 401k and get it there. It is actually quite common to see an SP&P 500 fund and then an Extended Market fund which can be combined to mimic the to...
by cherijoh
Thu Nov 16, 2017 3:33 pm
Forum: Investing - Help with Personal Investments
Topic: reached 54K IRS limit, now will miss employer match, what to do
Replies: 19
Views: 1196

Re: reached 54K IRS limit, now will miss employer match, what to do

Many companies allow you to put much of your salary into the 401k but match only up to say 10%. My company allows 30% put into the 401k and will match 75% of the first 8% so you can put 38% in total. Add in being able to send bonuses to the 401k and you are looking at a 120k-130k salary to hit the ...
by cherijoh
Thu Nov 16, 2017 2:39 pm
Forum: Investing - Help with Personal Investments
Topic: Cashed out Inherited IRA used to justify IRA contribution?
Replies: 20
Views: 1203

Re: Cashed out Inherited IRA used to justify IRA contribution?

I have a friend who doesn't work at all. No pension or social security.. no income at all. However, a family member died leaving him an IRA which contained a life insurance policy that paid a death benefit to the IRA. The Life insurance company would not allow him to inherit the IRA directly, so in...
by cherijoh
Wed Nov 15, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: 55+ Early retirement offer.
Replies: 76
Views: 11020

Re: 55+ Early retirement offer.

Rumors are swirling at my employer that an early retirement package will be offered to those 55 and older with 10 years of service. Said semi imaginary package will be up to 1 year return of salary with cobra paid by company. If this does materialize, It sounds very good to me. I think when a compa...
by cherijoh
Tue Nov 14, 2017 8:29 am
Forum: Investing - Help with Personal Investments
Topic: problem new Vanguard Global Wellington fund
Replies: 29
Views: 2146

Re: problem new Vanguard Global Wellington fund

The prospectus is just strategy and objectives. The fund is down because in the last month global equities of moved down slightly and the 10 year treasury has moved from 2.3% yield to 2.4% yield causing bonds to drop in value. This sentence is helpful. Thank you. In addition, my post was more about...
by cherijoh
Tue Nov 14, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Borrowing from parents - what interest rate?
Replies: 52
Views: 3883

Re: Borrowing from parents - what interest rate?

I would say it depends how much your parents have. If they have a lot of money then why charge you any interest? Arent you going to inherit everything anyways when they die in the future? How about a %0 loan? If the parents don't charge the going rate for interest, then it is viewed as a gift and t...