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Re: Joint accounts or separate accounts for married couples?

I was expecting a discussion on the tax (step-up) consequences of either. We have just joint accounts, but that will mean only 1/2 step-up (different for community property states) after death of one spouse. I don't see it as a critical concern, but am wondering if it would have been better to have ...
by BL
Thu Oct 30, 2014 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Joint accounts or separate accounts for married couples?
Replies: 32
Views: 1198

Re: Rolling over current employer 403b to TSP

Here is one article about it. The age is 59 1/2. http://www.forbes.com/forbes/2008/0225/046.html The law allows workers to empty their 401(k) accounts once they hit 59 and a half. They can roll all the money into an IRA without paying tax now. Or they can take cash out, pay any ordinary income taxes...
by BL
Thu Oct 30, 2014 10:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Rolling over current employer 403b to TSP
Replies: 6
Views: 274

Re: My Portfolio - Critiques Wanted

I would listen carefully to Duckie's recommendations. He has provided good advice for a long time. Have you done some reading in the Wiki and the recommended books? Here is the 3-fund portfolio page: http://www.bogleheads.org/wiki/3-fund_portfolio Here is a new 16-page booklet (also on Amazon.com) w...
by BL
Thu Oct 30, 2014 10:18 am
 
Forum: Investing - Help with Personal Investments
Topic: My Portfolio - Critiques Wanted
Replies: 9
Views: 909

Re: Rolling over current employer 403b to TSP

Generally you have to be about 60 yr old before you can do this, if your company allows it.
by BL
Thu Oct 30, 2014 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Rolling over current employer 403b to TSP
Replies: 6
Views: 274

Re: Help with Investing for my wife's retirement

The Life Strategy funds are a nice package of the great funds Avalon suggested (with some international bonds thrown in) at very low cost for a totally balanced single fund that needs no attention. Set and forget. It is possible you would have received a different answer if you posted everything in ...
by BL
Thu Oct 30, 2014 9:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with Investing for my wife's retirement
Replies: 11
Views: 768

Re: Help with Investing for my wife's retirement

WHL wrote:.18 is nothing. Use the life cycle fund and keep it simple.


+1
Keep it simple, especially since she doesn't want to deal with it. She is fortunate to have great choices, in case she wants to split it out later.
by BL
Wed Oct 29, 2014 7:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Investing for my wife's retirement
Replies: 11
Views: 768

Re: Finance kids' medical educations with a HELOC?

I agree things should be in writing. Also keep in mind that you may be dealing with future spouses if this is a long-term contract. You can always gift the interest or whatever in the future.
by BL
Wed Oct 29, 2014 12:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Finance kids' medical educations with a HELOC?
Replies: 24
Views: 1648

Re: Prudent Investment Portfolio for 58-year Old w/20M Net W

Call Vanguard. They would be happy to advise him at no cost and since they don't have expensive funds, there is little chance of being taken to the cleaners.

No need to be aggressive with that much, just a small % of equity to help keep up with inflation.
by BL
Tue Oct 28, 2014 2:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Prudent Investment Portfolio for 58-year Old w/20M Net Worth
Replies: 30
Views: 2534

Re: Betterment Portfolio Review - Need 3 Fund equivalent %

Unless you friend would like to stick with a single fund like Vanguard Target Retirement fund or Life Strategy Aggressive , I too wonder if staying put might be better than some of the alternatives he might end up with. This sounds like a much better place to be than with the typical broker/salesmen...
by BL
Tue Oct 28, 2014 12:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Betterment Portfolio Review - Need 3 Fund equivalent %
Replies: 8
Views: 518

Re: Liquidating some pre-Vanguard assets, need advice

I won't tackle the Taxable, it gives me a headache just to look at all the funds. I would however, look at their basis, both total and by lots, and see if any can be sold off without much cost. I did want to comment that I don't see any current Roth contributions. If you are working, you should look...
by BL
Tue Oct 28, 2014 11:56 am
 
Forum: Investing - Help with Personal Investments
Topic: Liquidating some pre-Vanguard assets, need advice
Replies: 34
Views: 1425

Re: Lump Sum vs Pension

In truth you are almost certain to be better off taking the pension. It allows you to: - defer taking Social Security, and therefore enhancing your inflation protection in later retirement years (SS is inflation indexed) - take more risk with the rest of your portfolio You should price it and see, ...
by BL
Tue Oct 28, 2014 9:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum vs Pension
Replies: 15
Views: 1407

Re: New to investment planning

So, should I wait a few years until my salary is high enough that I can max out my ROTH IRA contributions, before saving for our real estate investment? Do you own your own home? There aren't too many real estate folks on this site; most prefer investing in stocks and bonds. There is a lot to be le...
by BL
Mon Oct 27, 2014 7:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: New to investment planning
Replies: 8
Views: 743

Re: First Attempt at Posting my Portfolio for review

Thank you for the comments...Here are some followup questions 1 - Usually it is suggested to have a maximum of 5% in individual stocks. Risk vs. tax decision. Is that 5% in a given individual stock or combined individual stocks? It is usually considered a 5% total for "play money". There ...
by BL
Mon Oct 27, 2014 6:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: First Attempt at Posting my Portfolio for review
Replies: 17
Views: 2312

Re: Fidelity

Did you have the RMD set up to be automatically distributed? well they have my husband's age information and our accounts. i expect them to alert us to the fact that and send us a check by the last date which they did not do. we now have it automated. Would you be angry if they took out the RMD and...
by BL
Mon Oct 27, 2014 6:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity [Roll 401(k) to IRA]
Replies: 23
Views: 2585

Re: Liquidating some pre-Vanguard assets, need advice

Take a look at the assortment of Lazy Portfolios in the Wiki: http://www.bogleheads.org/wiki/Lazy_Portfolios I happen to believe the 3-fund portfolio is simple, well-diversified, low-cost portfolio. Others may prefer a more complicated one, which IMO is not necessarily more diversified, and certainl...
by BL
Mon Oct 27, 2014 3:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Liquidating some pre-Vanguard assets, need advice
Replies: 34
Views: 1425

Re: New to investment planning

So, should I wait a few years until my salary is high enough that I can max out my ROTH IRA contributions, before saving for our real estate investment? Do you own your own home? There aren't too many real estate folks on this site; most prefer investing in stocks and bonds. There is a lot to be le...
by BL
Mon Oct 27, 2014 12:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: New to investment planning
Replies: 8
Views: 743

Re: MOAA Insurance

I had never heard of it but did find ad in MOAA magazine for Long Term care by Mercer Consumer, a service of Mercer Health & Benefits Administration LLC . I am not aware of any direct mail advertising coming to my house, so I wonder if she inquired using the 800 number in the ad. I don't know an...
by BL
Mon Oct 27, 2014 11:16 am
 
Forum: Personal Consumer Issues
Topic: MOAA Insurance
Replies: 3
Views: 325

Re: IUL VS Vanguard funds [Index Universal Life as investmen

Salesmen sell this insurance because it makes a lot of money for them. It is not something you should buy. If you need life insurance to protect someone, buy just term insurance. This insurance ties up your money and cannot be cancelled without losing most of your contributions. It is better to inve...
by BL
Sun Oct 26, 2014 10:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: IUL VS Vanguard funds [Index Universal Life as investment?]
Replies: 5
Views: 548

Re: New to investment planning

I will likely switch to Vanguard rather than Scottrade, to take advantage of access to Vanguard funds without transaction fees. Yes! Questions: 1. Shall we use the Roth IRA to save for the down-payment? (by withdrawing principal). Or other suggestions? Roth will be valuable for actual retirement. I...
by BL
Sun Oct 26, 2014 2:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: New to investment planning
Replies: 8
Views: 743

Re: Fidelity

You really have no need to use ETFs, although no harm in doing so. They are usually the same cost as Admiral funds, which usually require $10,000.

You can sign up for RMDs and distributions if you choose. It is up to you to direct them to do it.
by BL
Sun Oct 26, 2014 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity [Roll 401(k) to IRA]
Replies: 23
Views: 2585

Re: Max Out Retirement Funds or Payoff Debt

Are you paying the minimum on all but one loan? That might be the quickest way to improve cash flow and "snowball" the payments. Finish paying off one (either the smallest or highest interest, both methods have advocates), then add that extra to the next, etc.
by BL
Sun Oct 26, 2014 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Max Out Retirement Funds or Payoff Debt
Replies: 29
Views: 1932

Re: New to investing, small amount

It will do what the markets do. No one knows, but we have been in a great market the last few years for many equities.
“past performance does not guarantee future results”
by BL
Sun Oct 26, 2014 9:35 am
 
Forum: Investing - Help with Personal Investments
Topic: New to investing, small amount
Replies: 10
Views: 679

Re: New to investing, small amount

Roth is great. Sounds like you don't need tax reduction now.

Maybe she could do a bit of work from home or when you are home?
Can you work (more) part-time?
by BL
Sun Oct 26, 2014 9:21 am
 
Forum: Investing - Help with Personal Investments
Topic: New to investing, small amount
Replies: 10
Views: 679

Re: New to investing, small amount

Perhaps this little booklet by a Boglehead can give you some direction: If You Can: How Millennials Can get Rich Slowly http://www.etf.com/docs/IfYouCan.pdf The Three Fund Portfolio thread here may be of interest. I believe a Total Stock market is the way to go. Better yet, when you have at least $1...
by BL
Sun Oct 26, 2014 9:00 am
 
Forum: Investing - Help with Personal Investments
Topic: New to investing, small amount
Replies: 10
Views: 679

Re: Need Help! Sell My Condo or Rent It

If you don't have an itch to be a hands-on landlord, I would pass on this and just get rid of it when you are ready. It doesn't sound like you have an urgent need for a house, so you can take your time to find just the one you want as a "forever" house. You may have more or different needs...
by BL
Sun Oct 26, 2014 8:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Need Help! Sell My Condo or Rent It
Replies: 11
Views: 1038

Re: Lump Sum vs Pension

I think you should compare it with something like immediateAnnuities.com to get an idea how much it is worth. I also think that unless lump sum has a huge advantage, or you won't live long, there is a tremendous advantage to having a guaranteed lifetime income. especially with the 100% to your spous...
by BL
Sun Oct 26, 2014 8:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum vs Pension
Replies: 15
Views: 1407

Re: Max Out Retirement Funds or Payoff Debt

If hunting and fishing is your primary hobby (and hopefully not too far away!), then the truck may have value to you. Remember, though, we may be able to afford to do almost anything, but not everything , we want! What else can you give up instead of your truck? (cable, beer, eating out, high-cost p...
by BL
Sun Oct 26, 2014 8:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Max Out Retirement Funds or Payoff Debt
Replies: 29
Views: 1932

Re: First Attempt at Posting my Portfolio for review

So there you have it. A few notes and questions: 1 - So, how does this portfolio look to you experts? To me, the most glaring things are the Stock holdings in taxable due to the amount of gains. We have held the stock for a long time, and the stock has split several times. I think we will try to sl...
by BL
Sun Oct 26, 2014 7:30 am
 
Forum: Investing - Help with Personal Investments
Topic: First Attempt at Posting my Portfolio for review
Replies: 17
Views: 2312

Re: Is Wells Fargo misleading my friend?

Perhaps you can also read and recommend a short 16-page booklet that is free online (or at Amazon.com with good reviews): If You Can: How Millennials Can Get Rich Slowly by William Bernstein, a Boglehead who has written other investing books as well. http://www.etf.com/docs/IfYouCan.pdf Especially n...
by BL
Sat Oct 25, 2014 7:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Is Wells Fargo misleading my friend?
Replies: 21
Views: 2507

Re: Is spouse eligible for SS benefit without ever contribut

From SSA: http://www.ssa.gov/pubs/EN-05-10007.pdf (For government workers not covered by SS): Your Social Security benefits will be reduced by two-thirds of your government pension. In other words, if you get a monthly civil service pension of $600, two-thirds of that, or $400, must be deducted from...
by BL
Fri Oct 24, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is spouse eligible for SS benefit without ever contributing?
Replies: 12
Views: 1428

Re: Fidelity

Fidelity is fine if you only stick with Spartan funds and have no trouble warding off people who want you to pay more either with the funds themselves or advising/managing. I wouldn't want to be constantly on my guard against the salespeople, especially as I get older and more vulnerable.
by BL
Fri Oct 24, 2014 1:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity [Roll 401(k) to IRA]
Replies: 23
Views: 2585

Re: Is spouse eligible for SS benefit without ever contribut

If spouse worked at a place that gives a retirement annuity instead of Social Security, she may be not eligible for any spousal SS payment or possibly reduced SS. SS has lots of good information on their site:
Here is one:
http://www.ssa.gov/retire2/yourspouse.htm
by BL
Fri Oct 24, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is spouse eligible for SS benefit without ever contributing?
Replies: 12
Views: 1428

Re: investing during retirment

I believe you are looking for funds that pay monthly instead of quarterly or semi-annually. I have no clue since choosing funds based on that may not be the best portfolio. You won't find too many here that favor only dividends rather than total return. You have been given some good ideas regarding ...
by BL
Fri Oct 24, 2014 9:57 am
 
Forum: Investing - Help with Personal Investments
Topic: investing during retirment
Replies: 20
Views: 2034

Re: Buying a home / renting it to a friend

Right now his job is mostly cash based so while he makes good money, he doesn't make a lot on paper to get a loan to buy it himself.


Is this another way of saying it is illegal? If so, I would avoid it completely or you could get dragged into it as well.
by BL
Fri Oct 24, 2014 1:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Buying a home / renting it to a friend
Replies: 20
Views: 917

Re: Is Wells Fargo misleading my friend?

At least B shares eventually turn into A shares after x years, thus gaining the lower cost of owning A shares (once load is a sunk cost).
by BL
Thu Oct 23, 2014 11:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is Wells Fargo misleading my friend?
Replies: 21
Views: 2507

Re: Is Wells Fargo misleading my friend?

I would stop short in saying it is a bad portfolio - it is just not the way people here invest. For those as baffled as me: 40% WASCX Ivy Asset Strategy C WASCX, Morningstar four star performance, analyst rating neutral, expenses 1.68% which Morningstar calls "low," world allocation class...
by BL
Thu Oct 23, 2014 8:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is Wells Fargo misleading my friend?
Replies: 21
Views: 2507

Re: Keep My 50/50 AA -- but modify the pieces

It would be great to start out this way, but if you are in a higher tax bracket, it could get expensive to sell off the W in taxable. I would turn off re-investing dividends, and maybe sell off whatever amount I choose to pay taxes on each year. I wouldn't wish for a crash but that would be a good t...
by BL
Thu Oct 23, 2014 6:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Keep My 50/50 AA -- but modify the pieces
Replies: 17
Views: 1175

Re: Stay-at-home mom looking to invest

Here is a short 16-page book with suggested reading written by a Boglehead, William Bernstein: http://www.etf.com/docs/IfYouCan.pdf If You Can: How Millennials can get rich slowly Read some of the suggested books here. I liked Boglehead's Guide to Investing , also their guide to retirement. The Wiki...
by BL
Thu Oct 23, 2014 5:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Stay-at-home mom looking to invest
Replies: 6
Views: 888

Re: RMUCX

Review Other Classes RMUCX Fund Name Front Load Deferred Load Expense Ratio Min. Init. Purchase 12b-1 Actual Purchase Constraint Shareclass Attributes Purchase Constraint: Institutional - T, Qualified Access - A, Closed to New/All Investments - C/L. Shareclass Attributes: Available for 529 Only - N...
by BL
Thu Oct 23, 2014 1:13 am
 
Forum: Investing - Help with Personal Investments
Topic: RMUCX [Oppenheimer Rochester Fund Municipals, C class]
Replies: 7
Views: 805

Re: Annuity 1035 exchange to IRA?

Is it an Individual Retirement Annuity?
by BL
Wed Oct 22, 2014 11:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Annuity 1035 exchange to IRA?
Replies: 8
Views: 372

Re: Long Term Care Insurance - Should I Keep?

I have never heard of a means test for LTC ins. What exactly is your company and name of insurance?
by BL
Wed Oct 22, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance - Should I Keep?
Replies: 11
Views: 929

Re: Help with My Father's Investments

I suggest you study his annual statements to look for fees and other non-fee fees. What is the IRA fee? Is that a new annual fee or did the government or other policy change to not take it directly from the IRA? I think the 12b-1 is included in the net Expense Ratio.
Is he paying AUM fees?
by BL
Wed Oct 22, 2014 6:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with My Father's Investments
Replies: 8
Views: 1143

Re: lost 8606 from years ago - am I in trouble?

IRA Contribution Limits Tax Year Contribution Limit Age 49 & Below Catch-up Contribution Limit Age 50 & Above Contribution Limit Age 50 & Above 2002-2004 $3,000 2005 $4,000 2006-2007 $4,000 2008 $5,000 2009 $5,000 2010 $5,000 2011 $5,000 2012 $5,000 2013 $5,500 2014 $5,500 Maybe you can...
by BL
Wed Oct 22, 2014 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1736

Re: lost 8606 from years ago - am I in trouble?

I don't really get why it matters. If you have a basis of $600 but claim no basis on withdrawal, what's the problem? I don't either. You said you filed an 8606 years ago, so you complied with that. Now you simply are not claiming that small reduction in taxes. As you said, it is not something that ...
by BL
Wed Oct 22, 2014 3:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1736

Re: lost 8606 from years ago - am I in trouble?

Does this mean you put in the max each year buy didn't deduct the max that year? Maybe I have it all wrong, but it sounds like you have the tax returns so you need to look up what was the max each year and check to see which return is inconsistent with that (600 less). Of course, if you didn't put t...
by BL
Wed Oct 22, 2014 10:30 am
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1736

Re: Laddering Term Life Insurance

Have you considered SS for children to ~age 18 and coverage for low-income mom until youngest child is 16? You probably have high SS coverage and so this could be quite a large number.

I am thinking that option 3 might be enough with you planned savings.
by BL
Mon Oct 20, 2014 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Laddering Term Life Insurance
Replies: 5
Views: 400

Re: Employer AND IRA retirement accounts

There are income limits to deductible IRAs. They get deducted when you do your income tax, not when you purchase the funds. The income limits on Roth IRA contributions are higher, then there is the Backdoor Roth (if you don't have a tIRA.) Deductible tIRA (and 401k) helps your current taxes, Roth IR...
by BL
Mon Oct 20, 2014 7:12 am
 
Forum: Investing - Theory, News & General
Topic: Employer AND IRA retirement accounts
Replies: 4
Views: 366

Re: New investor: Help with inheritance

I like the Life Strategy moderate in both IRAs. Set it and forget it. Some would say don't mix balanced with individual funds. One good and simple choice in taxable might be Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX), which is about 1/2 stocks/1/2 tax-exempt bonds. (Or you could put t...
by BL
Mon Oct 20, 2014 6:38 am
 
Forum: Investing - Help with Personal Investments
Topic: New investor: Help with inheritance
Replies: 4
Views: 621

Re: Personal Investment Decision

http://www.etf.com/docs/IfYouCan.pdf is a short book written just for you. If You Can: How Millennials can get rich slowly by a Boglehead contributor, William Bernstein. 55% Vanguard Total Stock Market Index Fund or ETF 25% Vanguard Total International stock market index Fund or ETF 20% Vanguard To...
by BL
Mon Oct 20, 2014 6:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Personal Investment Decision
Replies: 16
Views: 1574

Re: Benefits to a larger than necessary house (as children g

Is one mile away the same as 1 minute of driving time? I hope you find a solution that is satisfying to both of you. It sounds like maid service would be needed even if you don't have one now. Also a fence to contain the little kids. Do you love yard work? What are taxes like? It sounds like maybe y...
by BL
Sun Oct 19, 2014 3:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Benefits to a larger than necessary house (as children grow)
Replies: 31
Views: 3334
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