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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: 2106

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: 1366

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
Replies: 15
Views: 1745

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: 1366

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: 1986

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: 867

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: 2106

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: 2106

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: 1135

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: 853

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
Replies: 5
Views: 507

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: 350

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: 894

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: 7
Views: 726

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: 1694

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: 1694

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: 1694

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: 391

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: 363

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: 609

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: 1551

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: 3315

Re: Youngish Investor Advice?

If interest rates are similar to today's rates, it might make sense to get a mortgage and invest some of it instead. You could probably buy 55% SBP. Thank you for the suggestions. I should look more into what the 55% SBP would cost. To be honest I still don't completely understand the pension syste...
by BL
Sat Oct 18, 2014 8:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Youngish Investor Advice?
Replies: 6
Views: 676

Re: new accounts - getting ready to retire

If you want a money market separate account, consider using a bank savings/CD IRA which is slightly higher yield than MM funds.
by BL
Fri Oct 17, 2014 7:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: new accounts - getting ready to retire
Replies: 14
Views: 1382

Re: Youngish Investor Advice?

Our current retirement portfolio is in the mid 5 figures. Our non-retirement portfolio is in the high 5 figures. Our current goals for our money are (in order of priority): 1. For my husband to be able to retire at 42 with an annual income of $65,000 after taxes and in today’s dollars. His pension s...
by BL
Fri Oct 17, 2014 6:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Youngish Investor Advice?
Replies: 6
Views: 676

Re: First investment strategy meeting with new FA, $6M trust

The only thing worse that can be said is: "...this adviser is a member of our church." If there is a single investment plan for the three trusts, why not "park" the money in the Vanguard Tax Managed Balanced Fund? You'll have about 50% blue chip USA stocks (these companies have ...
by BL
Fri Oct 17, 2014 6:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4554

Re: First investment strategy meeting with new FA, $6M trust

"Never do business with friends or relatives."
by BL
Fri Oct 17, 2014 6:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4554

Re: Harebrained idea: FSA reimbursement to IRA contribution

Ok, you got this money untaxed to reimburse you for the dependent care you already paid for with money you already paid taxes upon.
This money is burning a hole in your pocket. So you decide to invest in a Roth IRA for which you are eligible because you work.
Fine!
by BL
Fri Oct 17, 2014 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Harebrained idea: FSA reimbursement to IRA contribution
Replies: 8
Views: 426

Re: New Here- Retirement Portfolio Review

Check with Vanguard about moving the Roths as is and doing your fund selling at Vanguard. It may be cheaper (not sure). Vanguard funds are free to buy or sell once you get there. No account closing either, which you may have to pay to leave where you are. It is worth it, IMO.
by BL
Fri Oct 17, 2014 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Here- Retirement Portfolio Review
Replies: 15
Views: 1054

Re: Harebrained idea: FSA reimbursement to IRA contribution

No, it doesn't make sense. It is use (for health care only) or lose. Get your eyes, teeth, or other approved costs taken care of and try to use it up. If you are in the 25% bracket, you have already gotten at least that much back anyway, so if you don't quite use it up, you are still ahead. ...
by BL
Fri Oct 17, 2014 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Harebrained idea: FSA reimbursement to IRA contribution
Replies: 8
Views: 426

Re: What to do with Mom's IRA

Don't know how much she has or what other investments, but she could do worse than pick a single balanced fund at Vanguard such as Life Strategy Income, Conservative, moderate, or target Retirement Income. Some like Wellesley, a non-index fund. Just figure out what percent fixed income she needs and...
by BL
Fri Oct 17, 2014 2:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with Mom's IRA
Replies: 8
Views: 864

Re: First investment strategy meeting with new FA, $6M trust

Do consider the Vanguard tax-managed balanced fund VTMFX if you want just one fund: https://personal.vanguard.com/us/funds/snapshot?FundId=0103&FundIntExt=INT You could add some Total International to make it a 3-fund portfolio in 2 parts if you so choose. FAs can be very nice people. I have one...
by BL
Fri Oct 17, 2014 1:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4554

Re: Gifting planning for upper 60s widowed.

Here are a couple links I found: https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax-Made-Simple/INF12127.html http://www.forbes.com/sites/deborahljacobs/2014/04/09/gift-tax-returns-what-you-need-to-know/ irs.gov also has the original info. Basically, you need to ...
by BL
Fri Oct 17, 2014 12:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gifting planning for upper 60s widowed.
Replies: 30
Views: 2316

Re: Gifting planning for upper 60s widowed.

A one-time (or occasional) gift should be no problem, but doing it on a regular basis is not the best idea. She has quite a bit, but widows often feel that this large amount of money needs to be spent, donated, etc., without really considering what may be needed in the future. She needs to work out ...
by BL
Fri Oct 17, 2014 9:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Gifting planning for upper 60s widowed.
Replies: 30
Views: 2316

Re: reorganzing parents finances including annuities

Googling found this definition of Inforce: Definition of "Inforce Ledger" A computer generated illustration of the current, projected and guaranteed values of an existing cash value life insurance policy. Generally the illustration begins with the current year and shows the values over the...
by BL
Thu Oct 16, 2014 9:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: reorganzing parents finances including annuities
Replies: 8
Views: 863

Re: First investment strategy meeting with new FA, $6M trust

I think there are many advantages of starting with the 3-fund portfolio, probably using tax-managed bonds to avoid some taxable income. Perhaps you could find out what it would cost for Vanguard to set it up. It might even be free. At least it wouldn't cost anything to sell (or buy) the Vanguard fun...
by BL
Thu Oct 16, 2014 4:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: First investment strategy meeting with new FA, $6M trusts
Replies: 80
Views: 4554

Re: Time Out of Market During Rollover

How bad are the costs where she is? If not too bad, she could do it whenever she chooses to do the rollover. If they are all expensive, then do whatever you need to do. I would contact Vanguard to arrange it and set it up, but that may not really speed it up. If her new job has good choices, she cou...
by BL
Thu Oct 16, 2014 2:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Time Out of Market During Rollover
Replies: 16
Views: 970

Re: problem when sign up Vanguard roth IRA for my sister

I am sorry you and your sister are having this trouble. If you both get on the line, perhaps you can explain what happened and that the money has already been withdrawn by Vanguard so you need to open the account immediately.
by BL
Thu Oct 16, 2014 1:59 am
 
Forum: Investing - Help with Personal Investments
Topic: problem when sign up Vanguard roth IRA for my sister
Replies: 6
Views: 573

Re: -11.33% YTD, asking for some guidance

Start a traditional deductible IRA at Vanguard if your income permits it (up to 60k single or $96k married). If above the limits you can still invest in a Roth IRA. You could buy a Target Retirement fund until you have several years worth of money in there and then either keep the TR or split it up ...
by BL
Thu Oct 16, 2014 1:53 am
 
Forum: Investing - Help with Personal Investments
Topic: -11.33% YTD, asking for some guidance
Replies: 57
Views: 3391

Re: portfolio review - noobie

It is time to learn how to use a tax program such as TurboTax. You can use it to estimate the effects of what will happen when you increase your 401k or sell something in taxable with capital gains. I will guess that you as a single person are in the 25% tax bracket. Reits kick out too much taxable ...
by BL
Thu Oct 16, 2014 1:16 am
 
Forum: Investing - Help with Personal Investments
Topic: portfolio review - noobie
Replies: 5
Views: 380

Re: Max out Roth IRA oIr pay student loans faster?

It would be worth a lot to attack those student loans. Are they in several lots? What is the total owed for each loan, + interest rate, fixed or variable? The Dave Ramsey snowball approach would be to pay off the smallest one first, then add that full amount to what you are paying the next smallest,...
by BL
Thu Oct 16, 2014 12:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Max out Roth IRA or pay student loans faster?
Replies: 8
Views: 713

Re: Please help with asset allocation and investments.

I can think of 2 more accounts you could consider as a place to keep bonds other than Pimco. Roth IRA -($6500/yr) this would work great for either bonds or equities. No RMD and no tax. Can be withdrawn at any time (contributions or after 5 years for gains). Easy to set up and withdraw from at Vangua...
by BL
Wed Oct 15, 2014 9:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help with asset allocation and investments.
Replies: 24
Views: 1814

Re: starting 401(k) and need advice on taxable savings

also, we have an ample amount in a taxable account - about 50% of this is in Wellington and 50% in TSM (VTSAX). I know it's not great to hold Wellington in a taxable so I'd like to change this up. This money is potentially for a down payment on a home, but we wouldn't be buying for at least 5+ year...
by BL
Wed Oct 15, 2014 2:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: starting 401(k) and need advice on taxable savings
Replies: 8
Views: 396

Re: need moral support (kinda)

Are you retired? If not, it sounds like you might have enough for short-term needs when you can put all excess into savings from now until you move. How firm are your moving dates? Do you know the community or would it make sense to rent a bit while you get to know the desired neighborhood. Do you o...
by BL
Wed Oct 15, 2014 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: need moral support (kinda)
Replies: 33
Views: 2895

Re: Teaching A Class, What Investment Advice Do I Give?

Perhaps the 16-page book for new young investors would be suitable for older, inexperienced investors as well: If you Can: How Millennials Can get rich slowly written by Boglehead, William Bernstein: http://www.etf.com/docs/IfYouCan.pdf , it is also an e-book on Amazon.com. I am thinking that learni...
by BL
Wed Oct 15, 2014 9:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Teaching A Class, What Investment Advice Do I Give?
Replies: 19
Views: 1573

Re: Help / advice regarding Fee based Financial Adviser in R

Ask the annuity company or companies for an "in force illustration" which AFAIK, they are required to give you. This would give information to you and to any adviser you may find who is investigating this. My own opinion is to run away from someone who sold me this type of product, since I...
by BL
Wed Oct 15, 2014 1:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Help / advice regarding Fee based Financial Adviser in RI
Replies: 13
Views: 866

Re: Teaching A Class, What Investment Advice Do I Give?

You might give them the link to a PBS Frontline program Retirement-Gamble:
http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/

It may be for workers rather than retired folks, but it does emphasize cost.

I like referring them to Bogleheads and the Wiki here.
by BL
Wed Oct 15, 2014 12:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Teaching A Class, What Investment Advice Do I Give?
Replies: 19
Views: 1573

Re: Help on Turbo Tax Long term cap gains

With 2 pensions, I can't imagine that all 85% of the SS is not already taxed before the gains are even added in. But I'm single and it does not take much of a pension to have all 85% of the SS taxed and also to end up in the 25% bracket. Some of that is likely different for MFJ. I agree. We are in ...
by BL
Wed Oct 15, 2014 12:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Help on Turbo Tax Long term cap gains
Replies: 29
Views: 1421

Re: Help on Turbo Tax Long term cap gains

The ideal way to figure it out is to do it on paper, using forms and directions from irs.gov. It really is worth doing once in a while to get a better idea of how the taxes work. I expect the suggestions you received will help you figure out what is happening: 1. taxable income includes capital gain...
by BL
Tue Oct 14, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help on Turbo Tax Long term cap gains
Replies: 29
Views: 1421

Re: Sale of house-closing tomorrow, buyer is backing out

I am not sure if the broker is at all at fault but I would check if the contract is up yet and if so decide whether to continue with same broker.
by BL
Mon Oct 13, 2014 2:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sale of house-closing tomorrow, buyer is backing out
Replies: 60
Views: 5081
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