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Re: IRA Contribution Question and Age

After I pass on, wife (5 yrs younger) will have 46.25% marginal tax rate due to Social Security taxation I would not expect this as you will have the entire amount taxed at your bracket, whether that is 25% or higher. Once you have the entire 85% taxable, that is over. There could possibly be other...
by BL
Mon Nov 24, 2014 7:56 am
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Question and Age
Replies: 17
Views: 1427

Re: Bogleheads, anyone doing "Black Friday"

Shopping online is a lot simpler for me. Have recently found good prices at Sierra Trading Post with emails of 40% off their sale prices plus free shipping. This is mainly clothing and other fabric items.
by BL
Sun Nov 23, 2014 7:56 pm
 
Forum: Personal Consumer Issues
Topic: Bogleheads, anyone doing "Black Friday"
Replies: 12
Views: 994

Re: 23 year old... Can I afford a Rolex?

It sounds like a recommendation to read "the Millionaire Next Door" is in order. The people you can impress with a Rolex are not worth impressing! :twisted:
by BL
Sun Nov 23, 2014 7:49 pm
 
Forum: Personal Consumer Issues
Topic: 23 year old... Can I afford a Rolex?
Replies: 133
Views: 6772

Re: portfolio suggestions for the truly aged.

I would look at this from the point of view that she might need cash in the near future if she loses her independence. Also, funds needed within 5 years should not be in the market. I would be inclined to keep not more than 25% in mutual funds in the IRA. Knowing her taxable holdings would potentia...
by BL
Sun Nov 23, 2014 7:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio suggestions for the truly aged.
Replies: 18
Views: 1514

Re: Debt vs Taxes

There are different rules for 457b governmental accounts and other 457 accounts, so you need to be clear which it is. I rolled a government 457 into an IRA with no problem. Here is a chart but it might not contain your type of 457: http://www.irs.gov/pub/irs-tege/rollover_chart.pdf
by BL
Sun Nov 23, 2014 3:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Debt vs Taxes
Replies: 6
Views: 765

Re: IRA Contribution Question and Age

In my experience as a single person with a federal pension, it does not take much "other income" to make 85% of SS taxable. And even if you can avoid that, probably 50% will be taxable. Not saying you should not try, but I'm not sure there is much you can do. Have you seen the chart in th...
by BL
Sun Nov 23, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Question and Age
Replies: 17
Views: 1427

Re: Help with Mom's portfolio

OK, she is a widowed ex-spouse , that makes a huge difference. Thanks to the person above for clarifying that. In other words, you can't assume anything, or depend on anonymous persons on the internet to give you exact information. The SS link above is quite clear on this: If you have a surviving di...
by BL
Sun Nov 23, 2014 9:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with Mom's portfolio
Replies: 19
Views: 1501

Re: Fidelity Brokerage Acct Allocation Help

Nothing wrong with Fidelity Spartan funds as long as you don't get sold expensive ones.

I happen to only use Vanguard
https://investor.vanguard.com/home/?fromPage=portal
Take a look around their web site.
by BL
Sat Nov 22, 2014 1:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Brokerage Acct Allocation Help
Replies: 17
Views: 1824

Re: Help with Mom's portfolio

Just to clarify, there is tax if it is pulled out of the inherited IRA, but she can do any buying or selling (exchanging) within without tax consequences, or the account can be moved to another location as long as the title is not changed. It would probably be cheaper to change things within after ...
by BL
Sat Nov 22, 2014 12:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Mom's portfolio
Replies: 19
Views: 1501

Re: IRA Contribution Question and Age

I would just assume paying 85% of SS for you and spouse and 85% of highest SS only for surviving spouse. Also assume 55% of your military pension (SBP) for spouse, and whatever you plan for civilian pension surviving spouse. So there is a decrease in income right there of the lower SS payment, 45% o...
by BL
Sat Nov 22, 2014 12:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Question and Age
Replies: 17
Views: 1427

Re: Help with Mom's portfolio

BL I did not know that about an inherited IRA, I will look into that. I have been telling her to pull it from the advisor but she has yet to make that move. If that can be liquidated without tax consequence it will be helpful for sure. Just to clarify, there is tax if it is pulled out of the inheri...
by BL
Sat Nov 22, 2014 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with Mom's portfolio
Replies: 19
Views: 1501

Re: 401k questions

Because I think I could do better with the funds below vs the Moderate Growth fund. You have some great funds in your 401k and can benefit from investing 17.5k there. The above has me puzzled because it isn't so much different except it costs just a little more, and jumping funds because they haven...
by BL
Sat Nov 22, 2014 2:22 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k questions
Replies: 10
Views: 1148

Re: IRA Contribution Question and Age

It is a nice problem to have! There are income limits for deductible tIRA and Roth IRA. You are probably past the limit for tIRA, don't know about Roth. If eligible, just put it directly in the Roth. If not: Do you both have non-Roth IRAs that would make it difficult to do the "Backdoor Roth&qu...
by BL
Sat Nov 22, 2014 1:43 am
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Question and Age
Replies: 17
Views: 1427

Re: Help with Mom's portfolio

You didn't post the ticker symbols for Vanguard Institutional Index Fund (.04%) Vanguard Mid-Cap Index fund (.08%) Vanguard Small-Cap Growth Index Fund (.08%) Vanguard Small-Cap Value Index Fund (.08%) but some combination of them will duplicate the Total Stock Market Index Those in combination wit...
by BL
Sat Nov 22, 2014 12:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with Mom's portfolio
Replies: 19
Views: 1501

Re: Cold weather gloves

Sagenick48 wrote:In all due respect, irrespective of all the high tech answers, the answer is choppers, or wool lined moose hide (cow hide doesn't stand up) mittens. I don't know where you live so maybe you can't even find them where you are.


+1
by BL
Sat Nov 22, 2014 12:12 am
 
Forum: Personal Consumer Issues
Topic: Cold weather gloves
Replies: 13
Views: 1390

Re: Should we tip the caregiver

I also think this is a very kind thing to do. I would think cash or cash equivalent in a thank you card would make a difference to the caretaker, maybe with a small box of candy or other small gift to accompany it.
by BL
Thu Nov 20, 2014 2:04 pm
 
Forum: Personal Consumer Issues
Topic: Should we tip the caregiver
Replies: 26
Views: 1865

Re: I may not make my retirement goals! What to do?

If you are borderline, it might make sense to consider a floor of SPIA (single premium immediate annuity) now or better yet, when you are older, especially if you do not feel comfortable increasing equities. If you know you have purchased enough annuity to meet your basic needs, you might be more co...
by BL
Wed Nov 19, 2014 3:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: I may not make my retirement goals! What to do?
Replies: 49
Views: 3344

Re: Online ETF graphs that show growth minus fees (expns rat

Thanks for all of the responses. Just to clarify since I'm somewhat new to all of this mutual fund stuff. Here's a Morningstar graph that plots JHancock Disciplined Value Mid Cap A (JVMAX) against Vanguard's Index Fund (VFINX): http://goo.gl/rxytEP If all of the expenses (except for the loads and r...
by BL
Tue Nov 18, 2014 1:00 pm
 
Forum: Investing - Theory, News & General
Topic: Online ETF graphs that show growth minus fees (expns ratio)?
Replies: 14
Views: 1184

Re: Tax Planning for 2015 Roth conversion

One advantage is you can hold more of your money in a Roth because you own the whole thing, even future increases, with no more taxes, while the same money in a tIRA belongs partially to you and partially to the government (taxes). So you don't want to decrease those valuable dollars by taking out f...
by BL
Tue Nov 18, 2014 9:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Planning for 2015 Roth conversion
Replies: 11
Views: 1377

Re: Trying to get started and have been procrastinating

Just ignore the Date and choose the stock/bond ratio or % bonds you want.
by BL
Mon Nov 17, 2014 11:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Trying to get started and have been procrastinating
Replies: 26
Views: 2401

Re: Fund expense

This fund is only available to clients enrolled in Fidelity Portfolio Advisory Service®
by BL
Mon Nov 17, 2014 3:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fund expense
Replies: 4
Views: 236

Re: Is my Tommy Lee Jones Approved Portfolio a disaster?

1) Complexity too complex 2) Overlap? lots of overlap 3) Tax Efficiency lots of taxable bonds, etc. Balanced funds have taxable bonds in them. 4) Expenses high costs. Do you also pay loads and/or management fees? You may have to look up each, some do and some don't, according to the two I looked at...
by BL
Mon Nov 17, 2014 1:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is my Tommy Lee Jones approved Portfolio a disaster?
Replies: 17
Views: 2173

Re: Extreme Generosity / Limiting Net Worth

Can you please define percent (of what?) as in giving X%. Is it someone giving X% of gross income, net income, net worth, AGI, MAGI (which one?). Is it different in working vs. retirement? I never know which it is, and people I know have different ideas about which should be used. I did not ask eve...
by BL
Mon Nov 17, 2014 12:20 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 9768

Re: Extreme Generosity / Limiting Net Worth

Can you please define percent (of what?) as in giving X%. Is it someone giving X% of gross income, net income, net worth, AGI, MAGI (which one?). Is it different in working vs. retirement? I never know which it is, and people I know have different ideas about which should be used.
by BL
Mon Nov 17, 2014 12:47 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 9768

Re: "Safe" investment for a retired parent. CD?

I-Bonds could also be considered, even though the limit is $10k/year per account. It is tied up for 1 year.
by BL
Sun Nov 16, 2014 10:34 pm
 
Forum: Investing - Theory, News & General
Topic: "Safe" investment for a retired parent. CD?
Replies: 12
Views: 1360

Re: Tax Planning for 2015 Roth conversion

2. Increase withholding on my pension in January to 10,000/12= 833 per month (no estimated tax payments). I prefer #2 because it is simple and allows me to make adjustment if I need to. All withholding comes from one source that is easy to change and monitor. I like #2 and adjust as needed with my ...
by BL
Sun Nov 16, 2014 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Planning for 2015 Roth conversion
Replies: 11
Views: 1377

Re: Options for girlfriend with bad 403b and no matching

Good idea. She needs to get AGI below $30k to get 10%, below 19.5k to get 20%, and below $18k to get 50% of $2000 max retirement contribution. I suggest she read the on-line 16-page booklet, If you Can: how millennials can get rich slowly by Boglehead, William Bernstein, for some ideas on retirement...
by BL
Sun Nov 16, 2014 5:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Options for girlfriend with bad 403b and no matching
Replies: 8
Views: 399

Re: Options for girlfriend with bad 403b and no matching

The other option, if she wants income deferral, is to contribute to tIRA and put the excess in the bad 403b. It might depend on how badly she needs the tax deferral now. She might need the traditional IRA to keep within the 15% bracket or to increase her spendable income now. Also if she has debt t...
by BL
Sun Nov 16, 2014 5:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Options for girlfriend with bad 403b and no matching
Replies: 8
Views: 399

Re: 20K Inheritance, now what?

There is an old expression used by some senior members here: "There are many roads to Dublin". Several suggestions differ and yet several choices may get you where you hope to be. So let things settle a bit and then do what you feel is best for you. There are people here who have been here...
by BL
Sun Nov 16, 2014 8:47 am
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 47
Views: 3105

Re: Newbie we need help!

Keep up the good work!

You have been given good suggestions above. I just wanted to add a short 16-page booklet free pdf by the above-mentioned William Bernstein, written for beginners:
http://www.etf.com/docs/IfYouCan.pdf
by BL
Sat Nov 15, 2014 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newbie we need help!
Replies: 15
Views: 860

Re: 25yo Military New Investor

Also you should plan for what to do if you cannot have a full career in the military. With downsizing in the military, I know people who are being selected out because of a reduction in the number of people at their rank or in their specialty. Be prepared for this in case it happens. Laura +1 It is...
by BL
Sat Nov 15, 2014 12:29 am
 
Forum: Investing - Help with Personal Investments
Topic: 25yo Military New Investor
Replies: 34
Views: 2839

Re: 34 year old new to investing - help please

I would get the IRA transferred first. Consider IRAs for both you and your spouse before opening any taxable accounts or 529. Your retirement must come first before funding your child's education since you cannot borrow for retirement. I called NWM and they said there is a 6% fee to transfer my IRA...
by BL
Fri Nov 14, 2014 10:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: 34 year old new to investing - help please
Replies: 41
Views: 4159

Re: Help with parent's assets

Thanks retiredjg. Yes, I do plan to discontinue reinvesting cap gains/dividends. Also, I am familiar with the different distribution methods (FIFO, LIFO, specific ID). As for bonds, given her tax bracket and that she lives in a state with taxes as well, any suggestion for a bond fund? I failed to m...
by BL
Fri Nov 14, 2014 4:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with parent's assets
Replies: 13
Views: 1333

Re: Does anyone here make "fun" purchases.

I have no problem with the curtains. If it is meant to fill a void, or make up for regrets, or other complicated feelings, one should be aware that it just might not do that. So the whole object is to find a balance that suits you, and no one else knows what that is. I hope you enjoy them for many y...
by BL
Fri Nov 14, 2014 3:48 pm
 
Forum: Personal Consumer Issues
Topic: Does anyone here make "fun" purchases.
Replies: 111
Views: 6498

Re: 20K Inheritance, now what?

This Wiki page shows all you need to invest in is 3 funds in the proportion (AA) you choose:
http://www.bogleheads.org/wiki/3-fund_portfolio
by BL
Fri Nov 14, 2014 3:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 47
Views: 3105

Re: 20K Inheritance, now what?

Yep, it won't answer all your questions, but if there is a point or two (not necessarily directly connected to your question) that helps, I think it is good. Avoiding the big mistakes is so important: trusting others that are just looking out for themselves, and panicking when the news sounds bad ar...
by BL
Fri Nov 14, 2014 1:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 47
Views: 3105

Re: 20K Inheritance, now what?

There is a very short book on Amazon.com or free right here for beginners to investing:
If You Can: How to Get Rich Slowly by a Boglehead, William Bernstein:
http://www.etf.com/docs/IfYouCan.pdf

There may be some useful ideas as well as book suggestions.
by BL
Fri Nov 14, 2014 1:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 47
Views: 3105

Re: Does anyone here make "fun" purchases.

I love them, can afford them but the decision was met with derision. I assume this means you have maxed out your 401k, IRA, emergency funds, have paid at least 20% down on your mortgage, and have no other debts, and have the cash available. Could you buy the fabric and sew them yourself? I would ne...
by BL
Fri Nov 14, 2014 12:35 pm
 
Forum: Personal Consumer Issues
Topic: Does anyone here make "fun" purchases.
Replies: 111
Views: 6498

Re: Food stamps

Supplemental Nutrition Assistance Program (SNAP) http://www.fns.usda.gov/snap/eligibility Household Size 1 Gross monthly income $1,265 (130 percent of poverty) Net monthly income $ 973 (100 percent of poverty) Deductions are allowed as follows: A 20 percent deduction from earned income; A standard ...
by BL
Fri Nov 14, 2014 11:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Food stamps
Replies: 8
Views: 1664

Re: Dealing with pressure for "social donations" at work

I think it is important to think in some relative term, such as: they want me to give six hours pay as a contribution! I recall a job where the person I replaced was given farewell gifts from an office collection. I have forgotten now, but I probably donated 1-2 hours pay to this person I knew for a...
by BL
Thu Nov 13, 2014 4:37 pm
 
Forum: Personal Consumer Issues
Topic: Dealing with pressure for "social donations" at work
Replies: 163
Views: 8009

Re: 34 year old new to investing - help please

I would get the IRA transferred first. Consider IRAs for both you and your spouse before opening any taxable accounts or 529. Your retirement must come first before funding your child's education since you cannot borrow for retirement. How long have you had this Adjustable CompLife Insurance and wha...
by BL
Thu Nov 13, 2014 3:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: 34 year old new to investing - help please
Replies: 41
Views: 4159

Re: 34 year old new to investing - help please

I would transfer the IRA to Vanguard. Contact them and they would do it for you, which is much better than you handling it from the current holder, NWM in this case. They should tell you exactly what you need to do to set it up. You should have a statement in front of you so you could ask V if you c...
by BL
Thu Nov 13, 2014 11:27 am
 
Forum: Investing - Help with Personal Investments
Topic: 34 year old new to investing - help please
Replies: 41
Views: 4159

Re: restarting overwhelmed

Can you please give funds and their ERs available in 401k? That way someone can help select the best choices. 1.75% is very high, but I do hope you have at least one that would be much lower. Do you have an S&P500, for instance? Look for lower ERs and the word "index". You may want to ...
by BL
Thu Nov 13, 2014 1:53 am
 
Forum: Investing - Help with Personal Investments
Topic: restarting overwhelmed
Replies: 24
Views: 3742

Re: Contribution to ROTH in 401K

BL: You mention to keep all of my bonds in IRA/401K to keep increases less so it is better to earn less? I simply meant that for whatever amount of bonds you have, they should mostly be in the IRA/401K where you will eventually pay tax on everything at whatever your tax bracket is and larger increa...
by BL
Wed Nov 12, 2014 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Contribution to ROTH in 401K
Replies: 13
Views: 1049

Re: Ouch! IRS penalty for underpayment, Any ideas?

I would expect my accountant (or myself, since I am a CPA) to pay the penalty. Generally, you don't get the interest because you had use of your money during that time. So I suggest you negotiate. The truth is that you pay your CPA for a reason - to give you good tax advice. It's bit low for her to...
by BL
Wed Nov 12, 2014 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Ouch! IRS penalty for underpayment, Any ideas?
Replies: 24
Views: 3096

Re: Please Help: I am eligible to participate in my first 40

I think you made some smart choices. Now you can just forget about investing for a while and let the fund go up and go down, etc. Well, maybe first read this free book by Boglehead, William Bernstein, If You Can: How Millennials Can Get Rich Slowly : http://www.etf.com/docs/IfYouCan.pdf Just pick up...
by BL
Wed Nov 12, 2014 1:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Please Help: I am eligible to participate in my first 401K.
Replies: 16
Views: 1587

Re: restarting overwhelmed

Laura has given you good advice. You do not want management as that will have a fee plus they will sell you high-ER (expensive!) funds as well! Fidelity has a few good index funds so if you stick with them you will do fine. I like Vanguard because all the funds are cheap so there is no point in tryi...
by BL
Wed Nov 12, 2014 1:04 am
 
Forum: Investing - Help with Personal Investments
Topic: restarting overwhelmed
Replies: 24
Views: 3742

Re: 51 yr old just starting over with employer 401(k)

Roth IRA @ Vanguard (add $5.1k/yr = 40% of annual contributions) 40%, Vanguard STAR Fund (VGSTX) ER 0,34%, <= start with all IRA contributions to this fund, 60% stocks/40% bonds; only $1,000 initial minimum investment 00%, Vanguard Total Bond Market Index Fund Investor Shares (VBMFX), ER 0.20%, <= ...
by BL
Wed Nov 12, 2014 12:12 am
 
Forum: Investing - Help with Personal Investments
Topic: 51 yr old just starting over with employer 401(k)
Replies: 37
Views: 3276

Re: Contribution to ROTH in 401K

Then secondly should I wait until I have to do the RMD at 70 1/2 or start taking distributions when I retire at age 66 to lower the tax burden at 70 1/2? Have you considered delaying SS until age 70 and converting IRA to Roth IRA up to the top of your tax bracket? I would keep all of my bonds in IR...
by BL
Tue Nov 11, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Contribution to ROTH in 401K
Replies: 13
Views: 1049

Re: 34 year old new to investing - help please

I agree with Novine that you haven't given enough information for people to give good information; the above link is good. Agree that you want to tackle the higher rate loans ASAP. You list life insurance as an investment; is 450k the cash value, loan value, death payment?? Is it term insurance? How...
by BL
Tue Nov 11, 2014 12:51 am
 
Forum: Investing - Help with Personal Investments
Topic: 34 year old new to investing - help please
Replies: 41
Views: 4159
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