Your heartfelt articles brought me to tears .... I could feel your love for your Mom. It is so helpful to hear your story, and it helps those of us going through similar circumstances. Thank you.
I'm not sure I understand the rationale for not putting 20% down during the original loan process. The $34,000 invested elsewhere was costing 4%. So if it was investing and getting a normal market return of 8%, the gain (8% minus 4%) would be $1360 annually. But the PMI was costing $116/month = $1392 annually. Why go through all the hassle to make nothing?
Wow, I couldn't agree more! The speaker's voice makes such a difference. I too like to watch CNBC and loved Sue Herera. There are a few anchors on that show who have the squeaky voice - I just can't watch/listen to them. The producers of that show would be much better off paying attention to how the anchors sound rather than how then 'look'.
I think you referenced this in one of the paragraphs, but I was painfully reminded about it yesterday while doing our 2022 tax return on TurboTax. It is called 'earned income'.
My wife and I were never able to get a deduction for contributions to our IRA while we were working because we made too much money. We are now retired and only receiving income from pensions, so we have zero 'earned income', even though we pay taxes on the pensions. I decided last year to contribute $7000 to my Roth IRA from my taxable brokerage account.
Not so fast - this is not allowed because we have no earned income. Now I have to reverse out the contribution to avoid a 6% IRS penalty that would go on for perpetuity. Ugh.
Comments
Your heartfelt articles brought me to tears .... I could feel your love for your Mom. It is so helpful to hear your story, and it helps those of us going through similar circumstances. Thank you.
Post: There Always
Link to comment from September 27, 2023
I've got an idea. Why don't we limit population growth in this country before we run out of land and resources.
Post: Shortage Hits Home
Link to comment from August 26, 2023
I'm not sure I understand the rationale for not putting 20% down during the original loan process. The $34,000 invested elsewhere was costing 4%. So if it was investing and getting a normal market return of 8%, the gain (8% minus 4%) would be $1360 annually. But the PMI was costing $116/month = $1392 annually. Why go through all the hassle to make nothing?
Post: Pay No More
Link to comment from February 11, 2023
Wow, I couldn't agree more! The speaker's voice makes such a difference. I too like to watch CNBC and loved Sue Herera. There are a few anchors on that show who have the squeaky voice - I just can't watch/listen to them. The producers of that show would be much better off paying attention to how the anchors sound rather than how then 'look'.
Post: Hearing Voices
Link to comment from January 28, 2023
I think you referenced this in one of the paragraphs, but I was painfully reminded about it yesterday while doing our 2022 tax return on TurboTax. It is called 'earned income'. My wife and I were never able to get a deduction for contributions to our IRA while we were working because we made too much money. We are now retired and only receiving income from pensions, so we have zero 'earned income', even though we pay taxes on the pensions. I decided last year to contribute $7000 to my Roth IRA from my taxable brokerage account. Not so fast - this is not allowed because we have no earned income. Now I have to reverse out the contribution to avoid a 6% IRS penalty that would go on for perpetuity. Ugh.
Post: What Gets Taxed
Link to comment from January 25, 2023