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ddurrett896

Do you have vacation time? Start using it.

ddurrett896

I elected to contribute $5,000 for 2021 Dependent Care FSA and just received an email from my employer that high earners are capped at $1,400 after an annual compliance test. Effective this week, I can no longer contribute and will be capped at the $1,400 which has already been deducted. My wife's e...

ddurrett896

10% max.

Those I know who jump from company to company, even coming back to a previous employer, make the largest salary increases.

ddurrett896

The phaseout behavior changed quite significantly for the credit where before it was a 35% credit dropping by 1% down to 20% for each $2,000 income over $15,000, and now it starts at 50% and only decreases after $125,000 income. This seems to allow a couple with $125,000 income and 2 kids to claim ...

ddurrett896

I'd put it on the current company and say something like, "my current employer considers that information confidential and I need to honor my commitment to them, therefore unable to share."

ddurrett896

I wouldn’t do any home projects unless your absolutely must. Even $55 rolls of Romex 12-2 back in June are $103 today.

ddurrett896

We both have very tight-knit families and want our baby to get to know them. Our parents are also, of course aging, and we are both close with our parents. My wife depends on her parents for emotional supports. You can't put a value on this, it's invaluable. I'd move home ASAP. I'm in my 30s with 3...

ddurrett896

Thanks for making this thread. I’ve only got 8 years of home ownership and relatively young, making it easy to reference old tax info. Got it all in Excel and plan on updating for the rest of life.

ddurrett896

It sort of feels like that. The big difference I see is that there was an enormous home building boom in our area in 2007, and right now, nothing is getting built. Something is being built. Have you looked at the price of building materials? $3 2x4x8 studs selling for $7 $7 sheets of 7/16 OSB selli...

ddurrett896

Rip it our and re do is the only solution. Regardless, best practice is to wipe down shower glass and shower floor after each use. My shower has it's own towel that is used to wipe down the walls and floors after each use. You don't HAVE to do it but this eliminates the need for deep cleaning, espec...

ddurrett896

matti wrote: ↑Wed Mar 24, 2021 12:52 pm Hello. I'm 27 and have $74 million in the bank. Can I retire early?

Only if you drive a 15 year old Toyota Camry.

ddurrett896

Want to add a TV to a room and haven't purchased a TV in over 10 years. Don't really care about picture quality - they all look good to me. What I do want is the ability to mirror my iPhone to show pictures and such and also stream music from an app on the TV like Pandora. Looking at TV reviews remi...

ddurrett896

It sort of feels like that. The big difference I see is that there was an enormous home building boom in our area in 2007, and right now, nothing is getting built. Something is being built. Have you looked at the price of building materials? $3 2x4x8 studs selling for $7 $7 sheets of 7/16 OSB selli...

ddurrett896

The title reminded me of Longmire then when your said you got a Wyoming number my interest really peaked.

Is that you Longmire?

ddurrett896

$560k severance is $335k after tax or 4.5 years of living expense....I’d take it.

You need $75k/year to live. Passive income of $2.8k makes up $33k of that. A million makes up the remaining $40k and you’ve got almost almost double that at $1.8MM in retirement accounts.

I’d take the package.

ddurrett896

What about things around the national parks (Grand Canyon, Yosemite, Zion) or the roads between them? Anyone with back-country backpacking experience, feel free to chime in with suggestions here. Check out Vermillion Cliffs National Monument. It's right off highway 89 which isn't too far from you a...

ddurrett896

LL Bean jeans and Darn Tough Socks

ddurrett896

anon_investor wrote: ↑Sun Mar 07, 2021 4:42 pm
ddurrett896 wrote: ↑Sat Mar 06, 2021 7:38 pm
squirm wrote: ↑Sat Mar 06, 2021 2:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.

Sure they can, but sitting in DMV with kids for hours sucks.

ddurrett896

Consumer package good company is good money.

ddurrett896

squirm wrote: ↑Sat Mar 06, 2021 2:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.

Cash, birth certificate, ss card, passport, marriage license, will

ddurrett896

anon_investor wrote: ↑Sat Mar 06, 2021 2:23 pm
ddurrett896 wrote: ↑Sat Mar 06, 2021 2:18 pm Huge gun safe, then put all my documents and backup drives inside a smaller portable safe that sits inside the large safe.
Is the small safe also fire proof?

Yes

ddurrett896

Huge gun safe, then put all my documents and backup drives inside a smaller portable safe that sits inside the large safe.

ddurrett896

Is there a reason to move my HSA to Fidelity over Vanguard? Thanks!

ddurrett896

neilpilot wrote: ↑Sat Feb 27, 2021 9:20 am Sure....just give them the LastPass password (and log in instructions) in your end of life instructions.

Problem is that I leave that in my safe too since is contains all of my account number and personal info.

ddurrett896

I have same options and i chose TD Ameritrade. The other one charges useless fees. At TD they have Schwab index funds and ETFs and also Vanguard ETFs. So plenty of low cost options. Hey I just setup my TD Ameritrade account and tried to add beneficiaries and received the message "Beneficiaries...

ddurrett896

How do you handle family members getting your passwords?

I was a will and end of life instruction with all banking/financial/password info all in a safe. Is there a way to give someone access without giving them access while your alive?

ddurrett896

My HSA funds are held at HSA bank and I'd like to invest them. My two options are TD Ameritrade and DENVAIR. I don't have any accounts with either of them, so looking for advice on which to go with. Below are quotes from each: TD Ameritrade Offers a wide selection of investment choices, educational ...

ddurrett896

Build the garage. I will never sell the house I live in and built a 1,000 sqft 2 years ago and only regret not doing it sooner. Easily fits 2 SUVs plus tools, power wheels, bikes and a million other kids toys. 80-90K isn't bad - actually really good with the current material prices. You said you lik...

ddurrett896

Google WiFi.

Plus, makes it easy to restricts the kids usage.

ddurrett896

Random Poster wrote: ↑Fri Feb 19, 2021 5:43 pm So should I just buy a bunch of 1/2” and 3/4” fittings just to be safe, or just go with the 1/2” and hope that is the correct size?

1/2 and 3/4 are pretty common. Grab a couple of each.

ddurrett896

nolesrule wrote: ↑Thu Feb 18, 2021 1:57 pm N is for a recharacterization in the same year as the contribution, so it was appropriate to receive that one.

2 is an early distribution with exception, normal for a conversion.

So am I good to go? I don't want to get hit with a tax for each of the ~$6k. Thanks!

ddurrett896

Assuming you converted the entire balance of the traditional IRA, you would owe taxes on the conversion amount that is greater than the non-deductible basis, yes. You probably received the 1099-R from the Roth for the recharacterization from Roth to Traditional. What was the code in Box 7? Roth IRA...

ddurrett896

1099-R is for a distribution from an account (including rollovers). Did you have a distribution from your Roth IRA? We made monthly contributions to our Roth IRAs, then realized mid way thru the year that we would exceed the income limit. So we both: 1) Each contributed $6K to a Roth IRA. 2) Then r...

ddurrett896

Not to hijack your thread, but do you get two 1099-R? One for the Traditional IRA and one for the Roth IRA?

My Roth IRA 1099-R box 2A shows $0 and 2B unchecked, however my Traditional IRA 1099-R shows 2A $6,000 and 2B both boxes are checked. Thanks!

ddurrett896

Start with an gasoline generator. I'd skip propane all together unless you have a huge tank at your house since the small 20lb tanks only last around 5 hours. I prefer the brand Champion for value and ability to buy parts. Also, for get about AC unless you buy a huge generator that drinks tons of ga...

ddurrett896

Can you get to the pipe from under your house? If so, cut it and throw a sharkbite cap on it. This cuts off the leaking line and allows the rest of the house to be used. There cheap enough to keep a couple in hand during an emergency. I’d definitely not let it leak out. Worst case, turn on the water...

ddurrett896

I put Defenders on all of my vehicles and buy from BJs when they have a $150 off sale or something similar.

ddurrett896

Get your money in the market ASAP!

ddurrett896

Bought a 12’ in 13’. Love it and will drive it until it’s dead. I can buy any vehicle I want, hell my employers gives me a $700/month vehicle allowance and I still stick with and love to drive it. Bad on gas? I guess doesn’t seem that bad. Bad ride? My wife, 3 kids and dog never complain. Old tech? ...

ddurrett896

I was laid off in 1983 after a company was sold. The new owners wanted a complete management team change regardless of skill, performance level or measurable profitability. I had been there almost 11 years and had risen steadily from trainee to shift manager, to small store manager to large store m...

ddurrett896

Bought a boat with a decent chuck of my savings when I was in my early 20s. Used for a year and sold for twice what I paid.

ddurrett896

Our oldest starts driving in 18 months and we were going to wait to purchase a third car at that time. We drive the Pilot anytime we travel out of town, but it needs a new transmission soon ($4500). 15' Pilot owner here with ~40K miles. Did a mechanic tell you how/why it's failing? This is my first...

ddurrett896

eddiek wrote: ↑Tue Feb 09, 2021 3:08 pm What should I do now? Do I need to fix this somehow or file something different other than the usual 8606 that the tax-software does for me?

Re characterize the Roth to Traditional.
Convert Tradition to Roth.

ddurrett896

I've got a small HSA balance that with Optum Bank and recently moved to HSA Bank when my employer changed institutions. Am I able to move my HSA Bank funds to Fidelity or Vanguard while I'm still working and contributing? HSA Bank uses TD Ameritrade and DEVENIR, however I have all my 401K with Merri...

ddurrett896

zrail wrote: ↑Sat Feb 06, 2021 6:58 am It’s incredibly common in countries hit with the original SARS to wear masks whenever you’re even slightly sick as a courtesy to everyone else.

outside to circumvent facial recognization software.

ddurrett896

- Work towards maxing 401K contributions? I think this would reduce combined take-home pay by approx. $1000 a month - Add more to HSA? - Add more to 529? - Pay additional on mortgage? What do you all think? Thanks! I'd stop contribution to the 529 and max out your 401K for a couple reasons, the fir...

ddurrett896

It's simple, basic, boring and no frills....just like the Bogleheads investment strategy!

ddurrett896

Any suggestions would be greatly appreciated. Thank You Same thing happened to me last year. Call the company you're holding your account with and.... 1) Re characterize Roth IRA contributions, putting the funds + gains into a Traditional IRA. You will owe tax on the gains. 2) Wait 7 days (Vanguard...

ddurrett896

Buy the boat - I'd pay cash.

You could probably refinance your house to another 15 years at a lower 2.5% rate to make up a portion of the payment.

ddurrett896

My bet is that it has something to do with the match.

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