Sunday, March 17, 2013

Move to Use Simple English

At least in legal community, there has been thought to simplify written documents so that it's easy to understand.  It also appears, though, that media and other publications are similarly moving to simplify written English so it's not so hard to understand.

I don't have a problem with that.  But I wonder by moving to simplify, we are dropping usage of certain vocabulary permanently.  After all, lack of use will lead to death of words or even language altogether.  And while every year, there is news about what new words make it into our lexicon (such as new words of 2012 by Merriam-Webster dictionary), I wonder what words died because of our movement to simplify our writing.

Just the other day, I learned a new word that I didn't know existed but could see how it could be used in our everyday conversation -- "overmorrow" which means the day after tomorrow.  And yet, even though there is this one perfect word that could conceivably be used quite frequently, I have never heard anyone actually use it.  I have read the phrase "day after tomorrow" quite often though.

So here's my thought.  It's great to simplify writings to be understandable to public.  But the move to simplify, perhaps, should not include not using what may be considered difficult vocabulary altogether. After all, those words probably can fit just perfectly in certain context.  And who is to say it's not better for readers to go look up a word or two in the dictionary and start using them?  I, for one, will start by using the word "overmorrow" and hope that it catches on.

Sunday, February 10, 2013

Backdoor Roth IRA

I learned an interesting loophole to save more money into retirement account recently.

To get either the tax deduction for a traditional IRA or to be able to contribute to a Roth IRA, the modified adjusted gross income needs to be at a certain level or less.  You can see all the different limits at this IRS website.  If you like contributing into a Roth IRA, then according to the IRS site, it would appear you are out of luck if you make over certain income.

It turns out that Congress created a loophole in 2010 that would allow you to fund a traditional IRA and then convert it into Roth IRA, no matter what your income is!  As this Forbes site explains (and jests that Bill Gates could also do this), there is no income limit to funding a traditional Roth IRA -- you just can't deduct the funding of traditional Roth IRA if you are over the certain income level set by IRS.  Currently, however, there is no income limit to converting traditional  IRA's into Roth IRA's.  That means you can fund a traditional IRA and then immediately convert it into Roth IRA -- Bogleheads blog explains this as funding the Backdoor Roth IRA.

It's a pretty interesting loophole and rather amusing that Congress created it, probably unintentionally.  

Monday, January 14, 2013

2013 New Year Resolution

So it's already another new year!  I can't believe it.  I read somewhere that making new year resolutions is better than not making it because people who do, end up making some attempt at fulfilling and achieving.  So, one of the resolutions I decided to make was to finally read Don Quixote by Miguel de Cervantes.  Actually, this is part of the past new year resolutions that went unfulfilled... because I wanted to read all the books I own but haven't yet read.  Don Quixote is one of them.  Why?  It's 1,000 pages long!  Well, 940 pages but that's pretty much 1,000 pages. When I was a kid, I read 1,000 page book such as Les Miserables (twice, not just once) without much effort.  Somehow, as a working adult, juggling a couple of board duties for non-profit organizations outside of work itself, reading a long book just doesn't seem to go very fast.

In any case, instead of making the resolution to read ALL un-read but owned books (which I failed miserably), I decide to tackle Don Quixote.  I am now on page 109.  At least the chapters are short -- it makes me feel like I accomplished quite a bit (on Chapter XVI).  I have 900 pages to go and 11 months left.  

My other resolution?  Win lotto, buy an island, declare my own country, and be free from never-ending Congressional bickering about budget.  I came kinda close -- I won $3.  I figure I have another 11 months to fulfill this one too.  ;)