By Invitation Only

[Brownslave688]

Maybe it's a southern thing. It's what guys around me have always called it.

Have literally never heard that.

 

[Brownslave688]

I recently drove from my house to Connecticut and then back up through Albany before heading home. Filled up before I left (yes, I am one of those who will spend 5 minutes making sure it is fully topped off) and 640 miles later the gas hand was just above E. Just shy of 40 mpg.

The best part was the Mass Pike has completely eliminated cash tolls-----you must either have a E Z Pass thingy or they will send a bill to the registered owner based on the license plate, which is read by overhead scanners as you drive by at 70-75 mph.

(I wonder how that works for rental cars. Does the rental company eat those charges or do they back bill the renter?)

Have I mentioned that I love my Altima?

Might want to quit topping off your gas



Car Myth or Fact: Should You Top Off Your Gas Tank?

 

[Brownslave688]

I have a meeting with my financial adviser this morning. We are going to review my current finances and start laying out the groundwork for the rollover of my 401k next summer. I plan on paying off the balance of my mortgage ($11K) and my car ($15K) with part of the rollover funds.

We are also going to discuss the best course of action for the proceeds from the sale of my condo, which I estimate will be about $100K. I would like to take $57K of that to pay off my son's student loans. I will be curious to see if Jim agrees with me.

I also formally requested my pension application packet on Monday. Parts of it have to be notarized so I will take care of that during my 8/21-9/8 vacation.

I am sure Jim will not be too pleased when I tell him that I want to take $4K out of my Roth IRA. I am helping my son pay off his credit card-----I have already sent him $1K and an additional $4K should just about pay it off. In turn, he has agreed to repay me when he gets his taxes back early next year and will do so by diverting part (or all) of his refund electronically to my account.

Why would you pay off your mortgage and then turn right around sell?


Don't forget the huge tax hit for rolling your traditional 401k into a Roth IRA.

 

[Operational needs]

I have a meeting with my financial adviser this morning. We are going to review my current finances and start laying out the groundwork for the rollover of my 401k next summer. I plan on paying off the balance of my mortgage ($11K) and my car ($15K) with part of the rollover funds.

We are also going to discuss the best course of action for the proceeds from the sale of my condo, which I estimate will be about $100K. I would like to take $57K of that to pay off my son's student loans. I will be curious to see if Jim agrees with me.

I also formally requested my pension application packet on Monday. Parts of it have to be notarized so I will take care of that during my 8/21-9/8 vacation.

I am sure Jim will not be too pleased when I tell him that I want to take $4K out of my Roth IRA. I am helping my son pay off his credit card-----I have already sent him $1K and an additional $4K should just about pay it off. In turn, he has agreed to repay me when he gets his taxes back early next year and will do so by diverting part (or all) of his refund electronically to my account.

If he's like any other financial adviser whose columns I've read, he'll tell you that paying your son's loans off is a bad idea for you.

 

[UpstateNYUPSer(Ret)]

Why not work a bit more and help out the boy?

"The boy" is 30.

The help with the credit cards will be a loan while the student loan payoff will be a gift.

 

[UpstateNYUPSer(Ret)]

If he's like any other financial adviser whose columns I've read, he'll tell you that paying your son's loans off is a bad idea for you.

Unlike most others, I will have both a pension and a fairly robust 401k ($200K+) balance to make up the deficit, with SS to kick in when I turn 67.

I am going to run it by him and ask his opinion but ultimately it is my call.

 

[UpstateNYUPSer(Ret)]

WTH is #EdSheeran?

 

[UpstateNYUPSer(Ret)]

Why would you pay off your mortgage and then turn right around sell?


Don't forget the huge tax hit for rolling your traditional 401k into a Roth IRA.

I am not sure if it will sell right away and I can't swing both a mortgage and rent at the same time.

I will let Jim worry about the tax hit.

 

[UpstateNYUPSer(Ret)]

Might want to quit topping off your gas



Car Myth or Fact: Should You Top Off Your Gas Tank?

It's a rental-----why the hell do I care?

 

[Brownslave688]

If he's like any other financial adviser whose columns I've read, he'll tell you that paying your son's loans off is a bad idea for you.

Especially out of the Roth IRA which will grow tax free.


And it's only 4K. Not like the kid will pay a ton of interest on it before he gets his taxes in 7-8 months.

 

[UpstateNYUPSer(Ret)]

Especially out of the Roth IRA which will grow tax free.


And it's only 4K. Not like the kid will pay a ton of interest on it before he gets his taxes in 7-8 months.

The loan is interest free.

 

[Brownslave688]

It's a rental-----why the hell do I care?

One its wasted money.


Two you've said you're going to purchase the car after you retire.

 

[Brownslave688]

The loan is interest free.

But why take it out of your Ira. Do you not have 4K in savings or Apple stock?

 

[UpstateNYUPSer(Ret)]

One its wasted money.


Two you've said you're going to purchase the car after you retire.

Yeah, I will probably keep this one.

It's a myth that topping off affects the evap canister.

 

[UpstateNYUPSer(Ret)]

But why take it out of your Ira. Do you not have 4K in savings or Apple stock?

The stock is in my SMA.

 

[moreluck]

 

[moreluck]

WTH is #EdSheeran?

ginger!!

 

[moreluck]

 

[cosmo1]

Might want to quit topping off your gas



Car Myth or Fact: Should You Top Off Your Gas Tank?

We tried to tell him that before.

 

[Wally]

These over 70s are out of control.