Search found 4394 matches

by cherijoh
Sun Feb 11, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Lumping charity vs paying off mortgage
Replies: 11
Views: 734

Re: Lumping charity vs paying off mortgage

Most advantageous from what perspective?

FYI, if you are considering lumping charitable deductions you might want to consider a donor advised fund (DAF). See this article in the Wiki and this thread.
by cherijoh
Sun Feb 11, 2018 10:54 am
Forum: Investing - Help with Personal Investments
Topic: Average Cost to SpecID questions: Did Vanguard do this correctly?
Replies: 51
Views: 1659

Re: Average Cost to SpecID questions: Did Vanguard do this correctly?

It seems like Vanguard would have a white paper explaining how they do the cost basis method change that one could read on their web site. After all, somebody had to create the specs and algorithm for what would be done by the computers and the Vanguard employees when a customer requested a change....
by cherijoh
Sun Feb 11, 2018 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Average Cost to SpecID questions: Did Vanguard do this correctly?
Replies: 51
Views: 1659

Re: Average Cost to SpecID questions: Did Vanguard do this correctly?

My impression is that you can change from AVB to specID. However if you have ever sold AVB shares previously, then all shares you own before you make the change, remain AVB. New shares you buy after you make the change become specID. If you had lots you bought for 20/sh, 60/sh, 100/sh with 100 sh/l...
by cherijoh
Sun Feb 11, 2018 9:49 am
Forum: Investing - Help with Personal Investments
Topic: Received 1099-R from Vanguard for Roth backdoor but not for mega backdoor (?)
Replies: 8
Views: 822

Re: Received 1099-R from Vanguard for Roth backdoor but not for mega backdoor (?)

I've executed the mega backdoor at the end of 2017 and I have the following lines under the transaction history page of the Roth IRA (Vanguard): 12/28/2017 -- VANGUARD FEDERAL MONEY MARKET FUND (Settlement Fund) $X+Y 12/27/2017 -- CASH Rollover (incoming) -- -- -- $Y 12/27/2017 -- CASH Rollover (in...
by cherijoh
Sun Feb 11, 2018 9:43 am
Forum: Investing - Theory, News & General
Topic: Why should we care about inflation?
Replies: 58
Views: 5032

Re: Why should we care about inflation?

Inflation, although with the recent change it's chained CPI-U, is used to adjust the tax brackets. That helps, but for many people it has little effect on capital gains. With no inflation, and 20% tax on long-term capital gains, a 1% real return is reduced to 0.8%. With 4% inflation, a 1% real gain...
by cherijoh
Sat Feb 10, 2018 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Help - why do I owe so much in taxes this year
Replies: 17
Views: 3266

Re: Help - why do I owe so much in taxes this year

I'm hoping someone can help me understand why my wife and I owe nearly $4K more in taxes this year compared to last year considering we did not make any changes to our withholdings and contributed significantly more to our traditional 401Ks (wife has 403b). It's enough to incur a $99 penalty. I cur...
by cherijoh
Sat Feb 10, 2018 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring soon.....401K vs rollover to IRA?
Replies: 16
Views: 976

Re: Retiring soon.....401K vs rollover to IRA?

If you are under 59 1/2 leaving it in your 401k may allow you to withdraw money penalty free provided you are 55 or older. IRA will not. While more involved - You can access the money via a SEPP. I believe that 55 rule is also plan dependent... so confirm with the plan admins. Technically, the "55 ...
by cherijoh
Sat Feb 10, 2018 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring soon.....401K vs rollover to IRA?
Replies: 16
Views: 976

Re: Retiring soon.....401K vs rollover to IRA?

The pros and cons already mentioned are most important depending upon your profile. After those considerations you may also want to check into the details of the withdrawal options from the 401k to see if they may be more restrictive than an IRA account. If it's a tie, consider moving half or some ...
by cherijoh
Sat Feb 10, 2018 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12433

Re: Am I saving too much for retirment?

I believe that every one of your bullet points woudl be well adressed with a collection , forecasating , and a plan mutiple utilizing expenses. :confused I'm not clear on what you are talking about with this statement. Sorry , way too vague. What I meant was that each one of your very valid bullet ...
by cherijoh
Sat Feb 10, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Tenants want to break lease early and is pregnant
Replies: 105
Views: 8644

Re: Tenants want to break lease early and is pregnant

Our great tenants are having their first child and suddenly want to leave 2 months early of their second 1 year lease. Just wondering if I should take any actions such as keeping part of the deposit, pet deposit or something or just let it go and wish the young kids well. I know some might say you ...
by cherijoh
Fri Feb 09, 2018 7:07 pm
Forum: Personal Consumer Issues
Topic: Financially secure, horrible workplace but just can't FIRE
Replies: 54
Views: 6319

Re: Financially secure, horrible workplace but just can't FIRE

I have been on the fence about retiring. Healthcare has been the big :?: since I currently have 6 years until Medicare (if its still around by then). But after having lost several friends and family members at relatively young ages (late 60s to mid 70s) I have decided that I need to retire so that I...
by cherijoh
Fri Feb 09, 2018 5:21 pm
Forum: Investing - Help with Personal Investments
Topic: Savings rate questions
Replies: 12
Views: 834

Re: Savings rate questions

Hi, I am curious to get input on how people look at their savings rate calculation as well as how people factor in their mortgage principal payment into their savings rate calc for retirement purposes. I've done a few google searches and put together the below calc. I started grouping my expenses i...
by cherijoh
Fri Feb 09, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12433

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by cherijoh
Fri Feb 09, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12433

Re: Am I saving too much for retirment?

Graphics like this are simply financial industry fluff. It is much better to use a % of income saved as a metric when you are many years away from retirement. That isn't any better. A 40 year old with 0 saved and. 20% saving rate is not remotely the same as a 40 year old with 10x saved and a 10% sa...
by cherijoh
Fri Feb 09, 2018 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12433

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by cherijoh
Wed Feb 07, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12433

Re: Am I saving too much for retirment?

I tend to be overly conservative based on my experiences during the recession. I want to make sure I'm taking care of my self now as well as my older self. Luckily we were able to buy a home with 20% down nearly two years ago. Though I am in a high cost of living area and kids are in the near futur...
by cherijoh
Wed Feb 07, 2018 6:59 pm
Forum: Personal Consumer Issues
Topic: Getting Rid of Ants in the House?
Replies: 46
Views: 2519

Re: Getting Rid of Ants in the House?

I periodically have problems with sugar ants. I now use the Terro bait traps (not the liquid) and leave them near where the ants come in. It is easy to tell when the trap has exhausted its payload of poison. I discovered they like to come in through the electrical outlets in my kitchen. It sometimes...
by cherijoh
Wed Feb 07, 2018 9:37 am
Forum: Investing - Help with Personal Investments
Topic: Am I creating an issue? [tax lots with many periodic contributions]
Replies: 21
Views: 1246

Re: Am I creating an issue?

I auto-invest with Vanguard in an after tax account twice a week, every week, on Tuesday and Thursday. I do this out of my monthly income as it makes me feel better to spread it out rather than once ot twice a month. I could cut it down to twice a month (get paid every 2 weeks) or even less frequen...
by cherijoh
Tue Feb 06, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Save on taxes by putting bonus in 401k?
Replies: 18
Views: 1774

Re: Save on taxes by putting bonus in 401k?

Every March my company gives a once per year bonus that is based on the company's performance in the previous calendar year and a percentage of my annual salary. This particular piece of income is taxed at a higher rate than my normal income. I'm not really sure why. Maybe someone can shed some lig...
by cherijoh
Mon Feb 05, 2018 10:00 pm
Forum: Investing - Help with Personal Investments
Topic: Retired at 50. Staying 100% in stock Index Funds. Anyone else?
Replies: 153
Views: 13691

Re: Retired at 50. Staying 100% in stock Index Funds. Anyone else?

I'm not even sure I would call 2008 a "crash" because the fundamentals in our economy were still pretty solid hence the quick rebound. More like overdone panic selling. Fundamentals solid? You gotta be kidding me. 3 bank failures in 2007. 25 bank failures in 2008. 140 bank failures in 2009. 157 ban...
by cherijoh
Mon Feb 05, 2018 9:44 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalance after today's drop?
Replies: 32
Views: 4371

Re: Rebalance after today's drop?

Rick C wrote:
Mon Feb 05, 2018 8:49 pm
I am 41% stocks and 51% bonds. Would it make sense in light of the last week to perhaps go 45/55 stocks/bonds?
41+51 = 92% - is the other 8% in cash currently? Or did you have a typo?
by cherijoh
Mon Feb 05, 2018 6:42 pm
Forum: Investing - Theory, News & General
Topic: Vanguard site is crashed now?
Replies: 188
Views: 14621

Re: Vanguard site is crashed now?

DemoEngr wrote:
Mon Feb 05, 2018 5:10 pm
I was in and out multiple times on Schwab, did not do anything but I was curious if based on events and volumes. Maybe I was lucky but no issues with platform.
So it was lookie-loos like you that caused all the problems today! :wink:
by cherijoh
Mon Feb 05, 2018 9:29 am
Forum: Investing - Help with Personal Investments
Topic: Can I afford this home?
Replies: 25
Views: 1822

Re: Can I afford this home?

Thank you everyone for your incredibly informative and helpful thoughts. Lots of food for thought and numbers to crunch. We would prefer to buy something more affordable, but realistically, to stay in the area we want to stay in (great public schools), in a decent single family home, the minimum wo...
by cherijoh
Sun Feb 04, 2018 9:21 pm
Forum: Investing - Theory, News & General
Topic: Possible to convert from spec ID cost-basis to average cost?
Replies: 2
Views: 294

Re: Possible to convert from spec ID cost-basis to average cost?

I imagine if you started with specific ID, you could switch to average cost on the remaining shares, but there is no way that you could switch back to specific ID after using average cost basis. So if you want to TLH you will need to stay with Specific ID.
by cherijoh
Sun Feb 04, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Legitimate ways to reduce SE tax to 0?
Replies: 10
Views: 1152

Re: Legitimate ways to reduce SE tax to 0?

My wife and I are both self-employed (musicians) and I’ve strived to minimize our tax burden by staying on top of every single deductible expense throughout the year for our Schedule Cs and, as we’ve been able in recent years, making sure to contribute 36,000 (18,000 each) to our traditional 401(k)...
by cherijoh
Sun Feb 04, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: [Flawed?] Paying off mortgage in 5 years
Replies: 17
Views: 2147

Re: [Flawed?] Paying off mortgage in 5 years

A friend referred me to this article. He himself is executing this strategy and swears by it. http://www.claytonmorris.com/blog/2015/7/20/how-to-pay-off-your-house-within-5-years-using-these-awesome-ninja-tricks Curious on the Boglehead POV about this strategy for someone who wants to make paying o...
by cherijoh
Sun Feb 04, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Report roth contribution
Replies: 2
Views: 312

Re: Report roth contribution

Hi All, My daughter opened up a Roth account this year. Moving through Turbo Tax we found she was eligible for a Saver’s Credit, basically 10% of her contribution. Just wanted to check if that is normal, seems like it is from our research. In addition, do we need to wait for any paper work from VG ...
by cherijoh
Sun Feb 04, 2018 11:00 am
Forum: Investing - Help with Personal Investments
Topic: Can I afford this home?
Replies: 25
Views: 1822

Re: Can I afford this home?

$850k cash + $1,400k brokerage = $2.25M. So yes, you can afford the house. If you'd like to borrow money, secured against your house, to invest in stocks and bonds, you can fund part of it the purchase as a mortgage. You are ignoring the taxes on liquidating the brokerage account. OP hasn't posted ...
by cherijoh
Sun Feb 04, 2018 10:50 am
Forum: Investing - Help with Personal Investments
Topic: Can I afford this home?
Replies: 25
Views: 1822

Re: Can I afford this home?

Hi all, Trying to figure this out, and would appreciate the input. We recently saw a house we like, in the right location, good public schools, the right size, etc. But it's price is significantly higher than we thought we would spend, at 2.2 mil (we live in an expensive metro area). We have never ...
by cherijoh
Sun Feb 04, 2018 9:44 am
Forum: Investing - Theory, News & General
Topic: When diversification doesn’t work
Replies: 33
Views: 2634

Re: When diversification doesn’t work

First of all I could care less if the market goes down 2% in a week. But I do find it interesting that seemingly everything went down last week. Stocks. International stocks. Bonds. Commodities. Where did it all go, cash? I think you need to lower your standards for the word "work". +1 Diversificat...
by cherijoh
Sun Feb 04, 2018 9:20 am
Forum: Personal Consumer Issues
Topic: What would you do with this car?
Replies: 27
Views: 1391

Re: What would you do with this car?

ERguy101 wrote:
Sun Feb 04, 2018 8:42 am
Mercedes G550 with all the stupid extra packages (tire wheel paint extended warranty, etc). I've already cancelled all the packages I can and the money from those were sent to the loan company to pay down the loan.
That was your dream car? Why?!? :confused
by cherijoh
Sun Feb 04, 2018 9:05 am
Forum: Investing - Help with Personal Investments
Topic: Am I saving enough?
Replies: 34
Views: 3173

Re: Am I saving enough?

I might suggest the OP pays some attention to tax optimization. $110K (income) - $15K (deductible retirement contributions) - $24K (standard deduction) = $71K taxable income. That's solidly in the 12% bracket. However, with another $8K in deductions (traditional IRA contributions should be deductib...
by cherijoh
Sun Feb 04, 2018 8:58 am
Forum: Investing - Help with Personal Investments
Topic: Am I saving enough?
Replies: 34
Views: 3173

Re: Am I saving enough?

I would agree that your pension is pretty safe, and you probably won't get laid off from a government job. I would, however, worry about getting bored and wanting a different job over the next 20 years and leaving your job due to a disability. With these two things in mind, I would say make sure yo...
by cherijoh
Sun Feb 04, 2018 7:30 am
Forum: Investing - Help with Personal Investments
Topic: Am I saving enough?
Replies: 34
Views: 3173

Re: Am I saving enough?

Quick facts: Emergency funds: Yes Debt: Mortgage ($272k at 3.5%) Tax Filing Status: Married filing jointly Tax Rate: 25% Federal, no state income tax (edit, sorry I put 28% by mistake) State of Residence: WA Age: 32 me, 31 wife Desired Asset allocation: 100% stocks Desired International allocation:...
by cherijoh
Sat Feb 03, 2018 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: Am I saving enough?
Replies: 34
Views: 3173

Re: Am I saving enough?

Quick facts: Emergency funds: Yes Debt: Mortgage ($272k at 3.5%) Tax Filing Status: Married filing jointly Tax Rate: 25% Federal, no state income tax (edit, sorry I put 28% by mistake) State of Residence: WA Age: 32 me, 31 wife Desired Asset allocation: 100% stocks Desired International allocation:...
by cherijoh
Sat Feb 03, 2018 2:09 pm
Forum: Personal Consumer Issues
Topic: Life Balance of spending and saving
Replies: 54
Views: 4595

Re: Life Balance of spending and saving

Good Evening, My wife and I have been contemplating the purchase of a pool and I have made the decision in favor and against this purchase multiple times over the last several months. Intuitively I realize this purchase will hold very little of its original monetary value in the future, but will pr...
by cherijoh
Sat Feb 03, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Is an ARM always a bad idea?
Replies: 22
Views: 2097

Re: Is an ARM always a bad idea?

An ARM is never a bad choice if you are certain you will sell or pay off the mortgage before the initial term ends. They get a bad rep from all the folks who thought they were certain but life happened or who found themselves unable to sell at the necessary time. I also think it depends on the reas...
by cherijoh
Fri Feb 02, 2018 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: A bed time story for a RBD
Replies: 9
Views: 1742

Re: A bed time story for a RBD

So I thought some newcomers might need this today. Currently at 135k. Please read this and stay the course. ‘87, 2000, 2008-9 no change. Time in the market. I don't know if falling back to all time high from ~2 weeks ago qualifies as a really bad day! :oops: My benchmark for a RBD was October 19, 1...
by cherijoh
Fri Feb 02, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Criteria used to make Roth Conversion decision
Replies: 39
Views: 2713

Re: Criteria used to make Roth Conversion decision

Hi I'm 62, semi retired, wife still working, self employed. I'm looking at making a Roth conversion for 2018 tax year. I expect to be able to move $20k and still stay in the 12% bracket, HOWEVER, that is dependent on fully funding two SEP/IRAs and HSA. Does it make sense to Roth convert while still...
by cherijoh
Fri Feb 02, 2018 10:38 pm
Forum: Investing - Help with Personal Investments
Topic: I have an overwhelming gift I'm in need of help of please.
Replies: 89
Views: 7951

Re: I have an overwhelming gift I'm in need of help of please.

Pay off your house and be done with the issues. Never a bad decision. A bad decision if the value of the house tanks, or they lose one or both jobs, go on disability, etc. and need a substantial emergency fund. So no one should pay off a mortgage without the mother of all e-funds? If the house is p...
by cherijoh
Fri Feb 02, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking advice on whether or not to refinance my mortgage
Replies: 7
Views: 628

Re: Seeking advice on whether or not to refinance my mortgage

Good morning Bogleheads, I am about six years into a 30 year mortgage. I'm interested in refinancing, as I believe my home's value has increased since we purchased it. My primary motivation is to get rid of PMI. I checked with my lender and they said that I can request PMI to be removed at 80% equi...
by cherijoh
Fri Feb 02, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: How to see the 1099s the IRS received
Replies: 3
Views: 615

Re: How to see the 1099s the IRS received

fabdog wrote:
Fri Feb 02, 2018 8:46 pm
you can check your taxpayer transcript, that should have all the 1099, W2, etc they got for you

Unfortunately I have never tried getting one for a current year, only to recon past years

Mike
I'd be surprised it the transcript was available prior to tax filing deadline.
by cherijoh
Fri Feb 02, 2018 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: IRA recharacterization tax question
Replies: 8
Views: 455

Re: IRA recharacterization tax question

My wife deposited $6,500 into a Roth IRA, and she meant for it to be a traditional IRA. She called immediately and the next day they recharacterized the Roth contribution as a Traditional contribution. During that one day though, the value of the mutual fund dropped from $6,500 to $6,480. We receiv...
by cherijoh
Fri Feb 02, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6769

Re: How to think about your house from a financial perspective

It's only a good investment if I sell for a profit and buy something that's less expensive. If my house doubled in value and I bought a house that initially was twice as expensive as mine and it also doubled in value, then I didn't do all that well. +1 I've been in my current house for 25 years and...
by cherijoh
Fri Feb 02, 2018 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6769

Re: How to think about your house from a financial perspective

Equity in a home (as best I understand) has a great degree of "asset protection" from various kinds of lawsuits and related matters. That is highly dependent on your state's "Homestead" laws. Here's a list for all 50 states. North Carolina's law is ludicrous - it protects a maximum of $1000 of prop...
by cherijoh
Fri Feb 02, 2018 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this house?
Replies: 50
Views: 4372

Re: Can I afford this house?

Good food for thought. To respond a little, we are definitely not buying to keep up with the jones’. My husband and I both work from home a lot and we basically live like college students, miraculously fitting 2 desks and a bed in our room. Feels like a maze. Our daughter has her room but it’s half...
by cherijoh
Thu Feb 01, 2018 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I stop contributing to 401(k) to pay off debt
Replies: 44
Views: 2486

Re: Should I stop contributing to 401(k) to pay off debt

I could use some help trying to decide if I should stop contributing to my 401(k) to pay off some debt early. All of my debt is very low interest, but the sooner I pay it off, the quicker I will have some wiggle room in my budget. (Need wiggle room in budget due to recent divorce). Amounts owed: Ca...
by cherijoh
Thu Feb 01, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Beating the 55k IRS limit?
Replies: 23
Views: 2274

Re: Beating the 55k IRS limit?

ved wrote:
Thu Feb 01, 2018 7:29 pm
I don't understand how this is beating the $55k limit.
It isn't since that is a per person limit and OP is combining the 2 spouses contributions.
by cherijoh
Thu Feb 01, 2018 6:43 pm
Forum: Investing - Theory, News & General
Topic: Anyone else cashing out on *some* of the crazy earnings?
Replies: 74
Views: 8279

Re: Anyone else cashing out on *some* of the crazy earnings?

Yes. DH, well past regular retirement age and still getting great satisfaction from his work, decided not long ago that he now has a vague target for actual retirement. So this run-up, far beyond anything we expected, is now generating some extra cash in preparation. Nice. RM +1 I do think it depen...
by cherijoh
Thu Feb 01, 2018 11:43 am
Forum: Investing - Theory, News & General
Topic: Anyone else cashing out on *some* of the crazy earnings?
Replies: 74
Views: 8279

Re: Anyone else cashing out on *some* of the crazy earnings?

Just so you are not disappointed, my comment would be that timing the market is a losing proposition. Capture your gains by rebalancing and just stay the course. For me, in the saving phase, the rebalancing benefit has been hard to "see." Because I get paid every two weeks, and each paycheck has th...