Search found 4678 matches

by Katietsu
Thu Apr 22, 2021 1:26 am
Forum: Personal Investments
Topic: Solo 401k Mega Backdoor Roth
Replies: 8
Views: 520

Re: Solo 401k Mega Backdoor Roth

I am not sure exactly what your plans are for this solo 401k. Are you planning to make after tax contributions to the solo 401k? Or do you mention the mega back door Roth because of the after tax dollars in the TSP? If the latter, then I think you could just do an off the shelf 401k and move the aft...
by Katietsu
Wed Apr 21, 2021 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refund adjusted by IRS
Replies: 22
Views: 2196

Re: Refund adjusted by IRS

If you are using Turbotax to prepare the return, is there a reason that you are unable to file electronically? The type of input error you experienced is not uncommon. Given the current situation, I would not be surprised if such data entry errors had increased in frequency. Glad you were able to re...
by Katietsu
Wed Apr 21, 2021 2:15 pm
Forum: Personal Investments
Topic: Personal Finance Advisor - how to find
Replies: 11
Views: 957

Re: Personal Finance Advisor - how to find

A review and recommendations will probably cost ~$400-$500. Paul $400-$500 Total? This seems very low. Allan Roth charges that for one hour. I think I recall that a typical client might need 8-10 hours, but that might be a faulty memory. I am sure that you can find advise for less per hour. But unl...
by Katietsu
Tue Apr 20, 2021 6:00 pm
Forum: Personal Consumer Issues
Topic: Advice on repeated credit card fraud
Replies: 15
Views: 1524

Re: Advice on repeated credit card fraud

I talked to the fraud department from the Chase Freedom number and the woman said that once the fraudster had the cc info in a merchant wallet, it would just update to the new card automatically, so the only solution was to take the cards off the account and input the info manually when I ordered. ...
by Katietsu
Tue Apr 20, 2021 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: When is a lawyer needed for creating a will?
Replies: 24
Views: 1909

Re: When is a lawyer needed for creating a will?

I would worry about a situation where you and your wife will no longer be able to care for yourselves and need someone to act as trustee of your affairs, looking out for your interests. A will does not necessarily need to be expensive - an expense in the low four digits would be money well spent gi...
by Katietsu
Mon Apr 19, 2021 10:57 pm
Forum: Personal Investments
Topic: 65 y.o. seeks advise on retirement at 70
Replies: 39
Views: 3409

Re: 65 y.o. seeks advise on retirement at 70

Are you comfortable with your Medicare coverage? Just make sure you understand all your options as some of things have a limited window to sign up and the whole thing can be pretty confusing.
by Katietsu
Mon Apr 19, 2021 7:17 pm
Forum: Personal Investments
Topic: $1,000,000 In An Ally Savings Account?
Replies: 51
Views: 6638

Re: $1,000,000 In An Ally Savings Account?

frugalNOTcheap wrote: Mon Apr 19, 2021 7:15 pm Just open 4 Ally savings accounts with 4 different POD's designated and you're done.
Can use 1 account with 4 beneficiaries, actually.
by Katietsu
Mon Apr 19, 2021 5:57 pm
Forum: Personal Investments
Topic: $1,000,000 In An Ally Savings Account?
Replies: 51
Views: 6638

Re: $1,000,000 In An Ally Savings Account?

Interesting, so it looks like the FDIC actually insures you more if your account beneficiary is your revocable trust: https://www.fdic.gov/deposit/covered/trust.html I have a revocable trust listed as my beneficiary at Ally and I have 4 beneficiaries within that trust. Does that mean I have $1,000,...
by Katietsu
Mon Apr 19, 2021 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Personal liability for filing complaint for financial adviser?
Replies: 51
Views: 4273

Re: Personal liability for filing complaint for financial adviser?

As far as liability, I would be very careful about your review on yelp or google. Be very fact based and not opinion based. Next, be careful about thinking that the fees and practices that you read about on bogleheads are standard, typical or normal. Those who regularly post on this forum are a smal...
by Katietsu
Mon Apr 19, 2021 1:55 pm
Forum: Personal Consumer Issues
Topic: How long does it typically take to get used to a new mattress?
Replies: 26
Views: 1376

Re: How long does it typically take to get used to a new mattress?

I didn't realize (or perhaps forgot) that buying a mattress is so complicated. Is it even possible to find a simple box spring bed these days? I agree that the pillow top can be a problem if you want longevity. I looked at Menards website and they appear to have several reasonable choices for inner...
by Katietsu
Mon Apr 19, 2021 11:14 am
Forum: Personal Consumer Issues
Topic: How long does it typically take to get used to a new mattress?
Replies: 26
Views: 1376

Re: How long does it typically take to get used to a new mattress?

If you can get away with only a restocking fee, I would seriously consider doing it. I have a memory foam topper on a bed now to get a few more years out of the mattress . But I would not want to start using these work around a with a new mattress.
by Katietsu
Mon Apr 19, 2021 11:10 am
Forum: Personal Consumer Issues
Topic: Facemask Recommendations?
Replies: 45
Views: 2906

Re: Facemask Recommendations?

This is a business that has a wide selection of the “disposable” masks that will not be counterfeit or sub standard. wellbefore.com I put “disposable” quotes because these are not usually disposed of after a single use. With no known Covid or exposure to other contaminates, we wear these for about 4...
by Katietsu
Mon Apr 19, 2021 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Trouble
Replies: 9
Views: 923

Re: Credit Card Trouble

I did this once, but with much smaller numbers involved. My mistake was that my mid month payment happened a day before the statement date and therefore did not count for the following billing period. I immediately paid off the full balance. I did not use that card again until I had a full clean bil...
by Katietsu
Mon Apr 19, 2021 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Permission to retire?
Replies: 38
Views: 6167

Re: Permission to retire?

I am think of taking SS at 65. Sure, you can take SS at 65. I have no idea whether or not this would be a good age for you. What struck me though is that 65 is not your full retirement age. Your full retirement age is 67. Did you have another perfectly acceptable reason for selecting 65 or were you...
by Katietsu
Sun Apr 18, 2021 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Claiming Son as Dependent
Replies: 37
Views: 2339

Re: Question About Claiming Son as Dependent

I am not sure you are counting support items correctly. All that money he spends on his car and going out with friends is part of his support even though it is not a basic need. If he spends $5000 on a super expensive hotel and extremely high end alcohol during spring break, that counts as $5000 tow...
by Katietsu
Sun Apr 18, 2021 1:33 pm
Forum: Personal Consumer Issues
Topic: Buying a Used Prius
Replies: 8
Views: 500

Re: Buying a Used Prius

One feature of the Prime is the ability to select your driving mode. You can use the gas/hybrid mode like a regular Prius while going from your country home to the city. Then you can switch to EV while in the stop and go city traffic. At least one of the other plug in hybrids would have use up your ...
by Katietsu
Sat Apr 17, 2021 3:39 pm
Forum: Personal Consumer Issues
Topic: New car same price as 1 year old
Replies: 24
Views: 2182

Re: New car same price as 1 year old

So, the high used car prices aside, were those safety features and connectivity features important to you or did you just take them, and pay for them, because they were there? We're both happy with what we have, so I guess that's all that matters. (At least, for car purchases!) True. I hope your Da...
by Katietsu
Sat Apr 17, 2021 3:15 pm
Forum: Personal Consumer Issues
Topic: New car same price as 1 year old
Replies: 24
Views: 2182

Re: New car same price as 1 year old

In the new cars that I have considered purchasing in the last 5 years, the extra safety creatures and connectivity options were $2000-$4000 more than the trim level below. We wanted the safety features. It ended up being cheaper to purchase the “luxury” mid trim level to get those features compared ...
by Katietsu
Sat Apr 17, 2021 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA contributions and TurboTax
Replies: 6
Views: 489

Re: Excess Roth IRA contributions and TurboTax

Usually, Form 5329 line 20 would show the removal of the excess when you did it. You could also absorb it into the allowable contribution for a future year if you were eligible then (with earned income). I think you're correct about filing amended returns. Thank you for the Line 20 tip. My Federal ...
by Katietsu
Sat Apr 17, 2021 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Tax implications for child filing as an indendant
Replies: 12
Views: 603

Re: Tax implications for child filing as an indendant

Your son is eligible for the AOTC, including the refundable part, if his earned income provided over half of his support. He is also eligible for a Recovery Rebate credit of $1800. I am not aware of any impact with regards to the 529. You will need to decide if he qualifies. There certainly are full...
by Katietsu
Fri Apr 16, 2021 12:21 pm
Forum: Personal Investments
Topic: How Do I Untangle an Old Commingled IRA?
Replies: 13
Views: 1348

Re: How Do I Untangle an Old Commingled IRA?

Please tell me if I'm mistaken: Let's say I contributed 2K pre-tax one year back in 1987, and then contributed 2k after-tax in 1989 and did nothing afterwards (4k in total contributions). Today the account is worth about 40k. Does that mean that about 20k is vulnerable to full taxation upon withdra...
by Katietsu
Fri Apr 16, 2021 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Federal E-File rejected due to Duplicate 1099-R
Replies: 59
Views: 4176

Re: Turbotax Rejected Federal return- Duplicate 1099R

This is probably going to get rejected. The EIN number for the payer must match the first 4 letters of the name of the payer. If you want to misspell something it needs to start at letter 5. Are you sure the IRS rejected it? This seems to be a problem that people talk about with Turbotax. Retirees m...
by Katietsu
Thu Apr 15, 2021 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Filing an extension and stimmy checks and child tax credits
Replies: 11
Views: 629

Re: Filing an extension and stimmy checks and child tax credits

Filing an extension is a fair way to play the game. You are not out anything except a few months of delay in getting a refund/advance that represents a very small % of your income. I am guessing that forum rules do not allow me to speculate on the chance that you will benefit by the delay. I file an...
by Katietsu
Thu Apr 15, 2021 6:17 pm
Forum: Personal Consumer Issues
Topic: Hoover Vacuum Problem (Mystery Solved)
Replies: 21
Views: 1270

Re: Hoover Vacuum Problem

My 40 year old vacuum needed a little work last weekend. Working better than before now. I have never had a vacuum leak 2 oz of a sticky substance and can not imagine what it would be. I am curious to see if someone can explain that. You do not mention taking the bottom off to see if the problem is ...
by Katietsu
Thu Apr 15, 2021 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Another home insurance rant - do you really give them all that info?
Replies: 13
Views: 1277

Re: Another home insurance rant - do you really give them all that info?

brad.clarkston wrote: Thu Apr 15, 2021 5:42 pm
Like any other lender does - name, dob, mailing address. Lenders do not need a SSN# from you to do a HP they just ask for it to verify you are you.
Interesting. I assumed the SSN would be required to do the hard pull.
by Katietsu
Thu Apr 15, 2021 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Filing an extension and stimmy checks and child tax credits
Replies: 11
Views: 629

Re: Filing an extension and stimmy checks and child tax credits

the child tax payments are just an advance. If you do not get it starting in July, you would receive it on your 2021 tax return anyway. I can not predict what would be done if you do not file by the October due date. But, in general, those who never filed a 2019 tax return (or whose 2019 return was ...
by Katietsu
Thu Apr 15, 2021 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Another home insurance rant - do you really give them all that info?
Replies: 13
Views: 1277

Re: Another home insurance rant - do you really give them all that info?

How would they be able to pull your CLUE report and your credit report (state dependent) without your unique identifying information? Without that information, how would the quote be meaningful?
by Katietsu
Thu Apr 15, 2021 3:38 pm
Forum: Investing - Theory, News & General
Topic: Solving a personal paradox with stocks
Replies: 23
Views: 1593

Re: Solving a personal paradox with stocks

What you're saying basically is that the proportion of market cap attributable to FANGMAN is too high. I feel this way as well, though I have done less to move away a market weighted portfolio. Maybe it is because I am old enough to have been part of the roller coaster ride of Apple and the dominat...
by Katietsu
Thu Apr 15, 2021 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Template for financial life for spouse if I’m dead?
Replies: 36
Views: 2312

Re: Template for financial life for spouse if I’m dead?

I am the financial spouse. We don't use bill pay but use auto pay (linked to joint checking account). Is there a reason to switch to bill pay? Some of this depends on how much you trust the system and how big of a disaster it would be if something went wrong. My personal choices:- I autopay the bil...
by Katietsu
Thu Apr 15, 2021 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: I wish I Knew Then What I Know Now
Replies: 33
Views: 3726

Re: I wish I Knew Then What I Know Now

I spent more than a dozen years investing in real estate, limited partnerships, and side businesses and investigating franchises. After making a little money with some efforts, and losing more than a little with others, I became aware of the concept of indexing the stock market. Dollar cost averagi...
by Katietsu
Thu Apr 15, 2021 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Amending medical record...best financial decision?
Replies: 27
Views: 2824

Re: Amending medical record...best financial decision?

I understand why you are keeping your current health insurance plan. It is a gamble that you have won. And as long as you can handle the out of pocket worst case scenario, I can see why it is a reasonable bet. However, to the best of my knowledge, the health “insurance” options that require medical ...
by Katietsu
Thu Apr 15, 2021 11:39 am
Forum: Personal Investments
Topic: Fired Financial Adviser - need advice for 70 yo mother
Replies: 46
Views: 3475

Re: Fired Financial Adviser - need advice for 70 yo mother

A classic portfolio has been 60% stock 40% bond. Some prefer much higher percentages of bonds. Before the OP goes into stocks as a high proportion of the portfolio as suggested by a previous reply he should make sure his mother understands the risks. How is she going to feel if that $2.4 million dr...
by Katietsu
Thu Apr 15, 2021 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Template for financial life for spouse if I’m dead?
Replies: 36
Views: 2312

Re: Template for financial life for spouse if I’m dead?

And have your spouse logon to financial accounts at least once a quarter to look around and understand what's there. Each of you should have your own userid/password to access joint accounts. Although I understand the motivation I don't think this is even remotely practical with most people. Loggin...
by Katietsu
Thu Apr 15, 2021 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Template for financial life for spouse if I’m dead?
Replies: 36
Views: 2312

Re: Template for financial life for spouse if I’m dead?

Much has been written, so just a few thoughts: -Separate the immediate from the the longer term. If you are are hit by a car and mentally incapacitated, what needs done? Have this information readily available. Make sure she is familiar with your insurance coverage. Have your wife pay the bills and ...
by Katietsu
Thu Apr 15, 2021 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus deposit
Replies: 1
Views: 235

Re: Stimulus deposit

Why is it a mistake? Most of the time, it is not a mistake, just a quirk of the rules.
by Katietsu
Wed Apr 14, 2021 9:33 pm
Forum: Personal Investments
Topic: Adding a bond index fund to taxable to replace HYS, and the rebalancing after
Replies: 10
Views: 928

Re: Adding a bond index fund to taxable to replace HYS, and the rebalancing after

Here is the alternative that you are missing. Move a chunk of money in the TSP into the G fund. Move the same amount of your cash into equities in a taxable brokerage account. Your % equities is the same after this move. It may even be a more tax efficient placement of assets. You are concerned that...
by Katietsu
Wed Apr 14, 2021 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Surviving spouse option to file MFJ equivalent for two years - strategies?
Replies: 4
Views: 480

Re: Surviving spouse option to file MFJ equivalent for two years - strategies?

Are you aware of the requirements to have a qualifying child that is not self supporting and is living in the home? Please see the IRS publications for all of the more specific details if this filing status might be relevant. Fortunately, the qualifying widow(er) status is relatively rare as most su...
by Katietsu
Wed Apr 14, 2021 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: desperately seeking help understanding Form 8606 on 2020 tax filing (Roth recharacterization/conversion issues)
Replies: 80
Views: 2844

Re: Moron of the year award goes to me: need help with rechar/pro rata Roth stuff

Your FMV on December 31, 2020 is just that. Your recharacterization will not change that.

As you stated, Vanguard will calculate the earnings at the time of the recharacterization. You do not need the earnings in calendar year 2020.
by Katietsu
Wed Apr 14, 2021 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Unknown phone numbers on credit reports?
Replies: 13
Views: 1248

Re: Unknown phone numbers on credit reports?

I would take normal precautions but I would not be particularly concerned. Bad data shows up on credit reports all the time and did so even before the rampant fraud.

Though, being the curious type, I would probably call one of the numbers and ask to speak to myself.😀
by Katietsu
Wed Apr 14, 2021 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing Stimulus Payment on Tax Return
Replies: 1
Views: 182

Re: Reducing Stimulus Payment on Tax Return

The reason you can not reduce the credit is because it should not be reduced. If a stimulus was paid to person A because they claimed a child on the 2019 return, they get to keep that stimulus. If a different person claims the child in 2020, that person gets to to claim a recovery rebate for the sam...
by Katietsu
Wed Apr 14, 2021 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: E-filed turbotax waiting for return
Replies: 5
Views: 479

Re: E-filed turbotax waiting for return

The last public statement that I saw indicated 6 million tax returns were “in suspension”. These returns are most likely waiting for a human to verify something such as the amount of a Recovery Rebate or the addition of a new dependent. The IRS is answering phone calls, just not all of them. Thursda...
by Katietsu
Wed Apr 14, 2021 3:48 pm
Forum: Personal Investments
Topic: Is there any basis step up in a 1035 annuity exchange?
Replies: 10
Views: 483

Re: Is there any basis step up in a 1035 annuity exchange?

The point of a 1035 exchange is to delay taxes until the money is withdrawn down the road. So no taxes were paid on the hypothetical $75,000 of earnings at the time the exchange was made to Vanguard. Therefore, the taxes will need paid when withdrawn. Think how popular 1035 exchanges would be if you...
by Katietsu
Wed Apr 14, 2021 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: 403b and 457b roll over to single IRA
Replies: 12
Views: 463

Re: 403b and 457b roll over to single IRA

Well, I did have one thought.... A lot of people seem to be worried that their work plans will lose come creditor protections when rolled into IRA. If this is a concern to you, it might be something to consider. I've never been clear on the details myself and I'm not particularly worried about it, ...
by Katietsu
Wed Apr 14, 2021 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Transferring stocks from Joint account to Individual account
Replies: 8
Views: 681

Re: Transferring stocks from Joint account to Individual account

I want to transfer stocks held in our combined account in vanguard to her individual account in ameritarde. Hence wondering if any tax implications? There are no tax implications to transferring the securities between spouses other than the unusual situations already discussed. Make sure you are tr...
by Katietsu
Wed Apr 14, 2021 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Transfer of funds from a joint account to an individual account
Replies: 7
Views: 378

Re: Transfer of funds from a joint account to an individual account

What is your concern? Most people would just move the money back from the joint account to an individual account. What aspect of this worries you?
by Katietsu
Wed Apr 14, 2021 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Calling all CPA's
Replies: 22
Views: 1881

Re: Calling all CPA's

OK. I get what you mean now. You were able to realize substantial gains in the Roth last year, never to be taxed. On the other hand, if the investments inside the Roth and outside the Roth are moving together, the advantage of the gains within the Roth are partially offset by the now higher capital ...
by Katietsu
Wed Apr 14, 2021 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Using only Fidelity for Retirement
Replies: 23
Views: 3421

Re: Using only Fidelity for Retirement

Regardless, is anyone here -- at retirement -- using Fidelity (self-directed or fee-based) for all your retirement needs , like financial planning that includes all "common" nuisances like retirement income, asset allocation, tax planning, Roth conversion plan (and effects on health insur...
by Katietsu
Wed Apr 14, 2021 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Beneficiary IRA (Inherited IRA) Process/ Financial Advisor
Replies: 7
Views: 542

Re: Beneficiary IRA (Inherited IRA) Process/ Financial Advisor

You are right that you do not want a check made out to you. A check made out to you would mean that you could not put the money in to an inherited IRA and you would pay taxes on it all at once. But receiving a check from the 401k is normal. The check that you should receive will be made out to Fidel...
by Katietsu
Tue Apr 13, 2021 8:31 pm
Forum: Personal Consumer Issues
Topic: Cicadas
Replies: 23
Views: 1803

Re: Cicadas

This can very much be a financial issue. Some plant life can be severely damaged. Full-size mature trees will do fine and may even benefit. But we always need to use netting to protect certain ornamental or young trees. I would personally not bother planting a tree in a cicada a year. I mean you ha...
by Katietsu
Tue Apr 13, 2021 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Calling all CPA's
Replies: 22
Views: 1881

Re: Calling all CPA's

In an earlier post, you stated that you have a highly concentrated company stock portfolio. And that you realized that you should sell some of it. Therefore, it seems that you have more than one reason to sell company stock to pay the taxes. I do not understand your analysis of the money being gone ...