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Re: less you need social security, earlier you should claim

Im not sure one can even say that since what could happen is that going forward they pay those who took early even less to be "actuarially fair" to those who delayed or give those who delayed some sort of credit to "even the score". SS i believe is designed to be fair from an ac...
by Carl53
Sun Apr 13, 2014 5:05 pm
 
Forum: Investing - Theory, News & General
Topic: less you need social security, earlier you should claim
Replies: 39
Views: 2799

Re: If Social Security wasn't mandatory, would you contribut

It's going to depend upon your level of earnings. If you make less than what is required for the first bend point, I suspect your return would be fantastic. Also to consider is whether or not you would get the benefit of the portion that your employer contributed unless you were self employed.
by Carl53
Sun Apr 13, 2014 8:54 am
 
Forum: Personal Finance (Not Investing)
Topic: If Social Security wasn't mandatory, would you contribute?
Replies: 9
Views: 758

Re: Savers credit question

The $1000 potential credit is a bit of a come on. Keeping your income below the 17750, means your taxes would be at most be $775 I believe. So once you place $1550 in a retirement account, you have maxed your tax credit. Of course if your income is somewhat above $17750, you can gain a larger savers...
by Carl53
Sun Apr 13, 2014 7:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Savers credit question
Replies: 3
Views: 545

Re: I accidentally discovered a coworkers salary... now what

Decades ago, I came across a 1022 file that had virtually all employee data in it. Kept my mouth shut. It was there for better than five years. Quite enlightening!
by Carl53
Fri Apr 04, 2014 8:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: I accidentally discovered a coworkers salary... now what?
Replies: 59
Views: 5500

Re: Lump Sum vs Annuity: A New Question?

A number of recent threads have asked about lump sum vs pension. Generally it seems better to take the pension. In your case, if there is any thought that the pension fund might be underfunded or has any chance of getting flipped to the PBGC in the next 20 years, you might want to take the lump sum ...
by Carl53
Thu Apr 03, 2014 6:53 am
 
Forum: Investing - Theory, News & General
Topic: Lump Sum vs Annuity: A New Question?
Replies: 62
Views: 3236

Re: Death of co-worker

I had a coworker that had a severe stroke, age 54, just a few months before he was going to retire. He had started with the company a few months later than I had. It made me reflect on my situation. Did I really need another million in assets that working another 10 years might bring? Hadn't we talk...
by Carl53
Wed Apr 02, 2014 6:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Death of co-worker
Replies: 94
Views: 9293

Re: How much should we put in our 2013 Roths?

Lowering your income in 2013 via TIRA and then converting in 2014 might be advantageous if your income otherwise is very low so as to take advantage of the Retirement Savings Credit. AlanS indicates that conversions of TIRAs should be OK. See this thread. http://www.bogleheads.org/forum/viewtopic.ph...
by Carl53
Sun Mar 30, 2014 8:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: How much should we put in our 2013 Roths?
Replies: 15
Views: 1532

Roth Conversion Question regarding Retirement Savings Credit

A recent thread centered around Retirement Savings Credits, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=136038 Publication 590 lists a number of items that should be excluded from the determination. Reducing eligible contributions. Reduce your eligible contributions (but not below zero) ...
by Carl53
Sun Mar 30, 2014 9:21 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Question regarding Retirement Savings Credit
Replies: 5
Views: 296

Re: Lump sum vs addtl payments on Student Loans for my situa

You apparently are already saving $600/month outside of your retirement funds. Take your Harley money and your taxable e savings and knock out your 8% loan. You then can bump up your savings to $1000/month. You might delay a bit on the ring if your are going to live at home until your are married, a...
by Carl53
Sat Mar 29, 2014 2:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lump sum vs addtl payments on Student Loans for my situation
Replies: 2
Views: 230

Re: Bogleheads 2014 Hedge fund contest

This contest shows the heartbreak of stock picking. Check out the last place entry by Dr. Monkey CureAll Dart Health Fund (paper200). Currently they have a -79.2% return. But if only they had chosen one of their shorts to be a winner instead. ICPT is up 365%. Swapping this for their poorer performin...
by Carl53
Sat Mar 29, 2014 1:57 pm
 
Forum: Investing - Theory, News & General
Topic: Bogleheads 2014 Hedge fund contest
Replies: 132
Views: 8757

Re: Widow's Social Security Benefits

One or more of the numbers does not seem right to me. Each month past her FRA should gain 2/3%. So, 46 months should be 1.3067 X her PIA. If the PIA is 1668, then age 70 should have been about 2179 depending on how the rounding is done.
by Carl53
Fri Mar 28, 2014 2:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Widow's Social Security Benefits
Replies: 22
Views: 1462

Re: How much should we put in our 2013 Roths?

I'm not quite clear on the rules as to whether you could convert some of your TIRA in 2014 while at a very low tax rate. If your income remains very low you might have head room to convert some and stay below the number for 2014, somewhat higher than 35500. Be sure to understand the rules to make su...
by Carl53
Thu Mar 27, 2014 1:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: How much should we put in our 2013 Roths?
Replies: 15
Views: 1532

Re: Gardening - asparagus in particular

We've had a patch for perhaps 15 years. I'll take cut the dead tops off when I see the first new growth in the spring. Most years I have not fertilized, just harvested typically 80% of new stalks. Seems that a 2X5 patch always generates more than we can eat and we end up freezing some. I suspect it ...
by Carl53
Thu Mar 27, 2014 1:19 pm
 
Forum: Personal Consumer Issues
Topic: Gardening - asparagus in particular
Replies: 25
Views: 1866

Re: How much should we put in our 2013 Roths?

Your spouse can put $2434 into a Traditional IRA instead; this both reduces your AGI (moving you into the lower-income category) and qualifies you for the higher tier of the credit. OP, this solution may fit you better than the one I offered. This will get you to the $35500 target and allow you a 5...
by Carl53
Wed Mar 26, 2014 10:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: How much should we put in our 2013 Roths?
Replies: 15
Views: 1532

Re: How much should we put in our 2013 Roths?

(who, for some reason, everyone is assuming is female) I thought I had avoided this assumption, but no, I see I slipped up once. Our combined income in 2013 was exactly $37,932.52, so we'd have to put just over $2400 into a TIRA to get our income below the $35,500 threshold, though I'm not clear on...
by Carl53
Wed Mar 26, 2014 6:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: How much should we put in our 2013 Roths?
Replies: 15
Views: 1532

Re: Property Taxes - Doubling Up

I have been looking into "bunching" for the last few years since I retired (early) about 5 years ago. The main tool I have to do this is the timing of my 4th quarter estimated state income tax payment. It is due Jan 15 but if I pay it in December I can "bunch" an extra payment i...
by Carl53
Wed Mar 26, 2014 5:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property Taxes - Doubling Up
Replies: 20
Views: 1215

Re: How much should we put in our 2013 Roths?

Sounds like you are talking about using the Retirement Savings Credit. If you were a full time student in 2013, you are ineligible. http://www.irs.gov/publications/p590/ch04.html You are not a full-time student (explained next). Full-time student. You are a full-time student if, during some part of ...
by Carl53
Wed Mar 26, 2014 4:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: How much should we put in our 2013 Roths?
Replies: 15
Views: 1532

Re: Buy Term Life Now or Wait

You are probably too late to get your policy prior to your birthday. Sounds like that you have been playing with the online term insurance websites. The two times I bought term insurance, it took several months for the policy to be finalized. The policy was dated considerably later than the date I a...
by Carl53
Wed Mar 26, 2014 1:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy Term Life Now or Wait
Replies: 17
Views: 1116

Re: Multiple Pensions - PBGC Question

What was the scheduled reduction at age 62 for? I can guess 2 reasons off the top of my head: (1) you elected a "social security level income option". This is an adjustment to your regular pension such that it coordinates with your earliest SS age. The plan made the benefit larger for the...
by Carl53
Wed Mar 26, 2014 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Pensions - PBGC Question
Replies: 5
Views: 622

Re: Multiple Pensions - PBGC Question

Have you checked to see whether your pensions are large enough to be reduced if they are taken over by the PBGC and combined? Don't borrow trouble if you don't have to. As of now, one of the two would be over the current limit for my age and of course the combined ones would be. Once I turn 62, the...
by Carl53
Sun Mar 23, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Pensions - PBGC Question
Replies: 5
Views: 622

Re: Need advice! Retirement Plan offers Lump-Sum Payout

Now, why on earth would the company offer you a lump sum if the pension/annuity is cheaper for them? In other words, unless it is a bad deal for you? One reason could be that it might be better for a group of top management that otherwise might lose out if it got turned over to PBGC. They would be ...
by Carl53
Sun Mar 23, 2014 9:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Need advice! Retirement Plan offers Lump-Sum Payout
Replies: 31
Views: 2218

Multiple Pensions - PBGC Question

I am receiving two pensions from single payer employers. The companies were set up with one as a subsidiary of the other. The parent company filed for bankruptcy. Whether the other will remains to be seen. In the filing of the parent company they note the interrelationships between to companies and ...
by Carl53
Sun Mar 23, 2014 7:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Pensions - PBGC Question
Replies: 5
Views: 622

Re: Defined Benefit Pension Question

My DBP (I'm a state employee) pays out (Years of service * Average of top 5 consecutive yearly base salaries * 0.0185). I'll also receive a Hazardous Duty Supplement (Currently about $1,000 a month and goes up over time) when I retire. Will this be considered W-2 income as if I had a regular job? I...
by Carl53
Sun Mar 23, 2014 6:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Pension Question
Replies: 8
Views: 574

Re: Roth Conversion While Wife is in Medical School?

It looks to me like being married will get you a break on the California marginal taxes too. If you convert just up to the top of the 15% federal bracket (73800 taxable), it looks as some of the conversion will be at but 4% and the rest at 6% to California, rather than your single rate of 9.3%.
by Carl53
Thu Mar 20, 2014 2:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion While Wife is in Medical School?
Replies: 12
Views: 539

Re: Small Credit Union Seemingly Great Rates-Help!

What a refreshing CU operation. It looks a lot like my CU back in the 70s. Looking at its financials, I see that they pay out roughly 60% of income in dividends. My CU pays out about 7% of income as dividends. My CU decided to expand and now has over a dozen offices and well over a hundred employees...
by Carl53
Thu Mar 13, 2014 7:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Small Credit Union Seemingly Great Rates-Help!
Replies: 5
Views: 775

Re: Take Pension as Annuity or roll into 401k?

Any chance the former employer pension plan will fail?

2014 PBGC limits for 55 year old
Single life 2,224.43
50% joint 2,001.99
100% would probably be a hundred or two less.
by Carl53
Mon Mar 10, 2014 7:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Take Pension as Annuity or roll into 401k?
Replies: 11
Views: 773

Re: DB Pension Options

A consideration might be if your joint options bump back up to the life annuity level if your spouse passes before you do. I only had a 50% joint option when I retired, but noticed in the plan that it would bump back to the higher level if my spouse passed before I did.
by Carl53
Sat Mar 08, 2014 11:21 am
 
Forum: Personal Finance (Not Investing)
Topic: DB Pension Options
Replies: 32
Views: 1519

Re: Canceling Joint Credit Cards?

Have you checked your credit report at annualcreditreport.com to validate that the current credit items are being reported on your record? If they are, then cancelling them will leave them on your credit report for a number of years. That said, you probably would be better served just opening new ca...
by Carl53
Sat Mar 08, 2014 7:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Canceling Joint Credit Cards?
Replies: 9
Views: 733

Re: games for basement Game Room - suggestions

We've purchased several games over the years, mostly used. Air hockey, it was not professional quality but still is used. I've worked on the table supports several times, but for $20 initial and a few replacement pucks it has been well worth it. Ping pong, the only purchased new item by the kids gra...
by Carl53
Fri Mar 07, 2014 12:36 pm
 
Forum: Personal Consumer Issues
Topic: games for basement Game Room - suggestions
Replies: 18
Views: 1010

Re: Ameriprise fee to transfer account out

My part time gig, offered a Simple IRA back when I started with them that was with Ameriprise. I was rather appalled at the fees and expenses that they charged. So I only invested the minimum to get the 3% match in the Ameriprise MM fund. I probably missed out on some OK returns, but didn't have the...
by Carl53
Wed Mar 05, 2014 7:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Ameriprise fee to transfer account out
Replies: 6
Views: 473

Re: Be careful with Turbotax

I noticed TT not checking to see if I previously downloaded 1099s to see if they were duplicates. One potentially bigger item was that it only downloaded our joint and my 1099s when I asked it to download. I guess I expected it to download my spouse's too since we have full access to each other's ac...
by Carl53
Tue Feb 25, 2014 7:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Be careful with Turbotax [Importing data from Vanguard]
Replies: 20
Views: 2604

Re: Struggling to figure out when to initiate company pensio

Apparently you are single as you mention a 25% bracket while noting 40k in living expenses. The 25% bracket kicks in at $36900 in 2014, about $47k AGI. If you are right at the bottom of the 25% bracket, you will pay nearly $5100 in federal taxes and perhaps some state income tax leaving you the $40k...
by Carl53
Thu Feb 13, 2014 8:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Struggling to figure out when to initiate company pension.
Replies: 13
Views: 1038

Re: Pension Withdraw--What Would You Do?

Your situation was a little different than mine as your annual increased due to pension delay was almost twice as great as what mine would have provided. I took my pension at almost 55 rather than let it grow since I could get an increased pension until I was 62 at which time the amount would be red...
by Carl53
Wed Feb 12, 2014 11:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Pension Withdraw--What Would You Do?
Replies: 11
Views: 1212

Re: Buying Service Credits

I missed the OP last reply on this thread. Post 62 she will receive about a $3k increase in annual pension. That sounds good enough to go with this option. One last thought, I wonder how well funded the pension is. How likely will pensions be given a haircut? I realize that you probably will be taki...
by Carl53
Sat Feb 08, 2014 7:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying Service Credits
Replies: 6
Views: 903

Re: Bunching Property Tax - when is it considered paid?

The problem is that most agencies will be understaffed the last couple of weeks of every year due to Christmas holidays and vacation. But as when filing your taxes, the date used should be the post marked date. Which has been the date both government and charitable organizations have used for all o...
by Carl53
Sat Feb 08, 2014 7:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Bunching Property Tax - when is it considered paid?
Replies: 39
Views: 2596

Re: Dave Ramsey's voice is in my head...

How close are you to having paid your home loan down to 80% LTV? Assuming you paid $316k with 3.5% down and rolled a nominal 1% PMI into your loan, you still owe $286k if you never paid any extra on your principal. In that case you are still over 5 years and $34k away from getting your LTV down to 8...
by Carl53
Sat Feb 08, 2014 6:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey's voice is in my head...
Replies: 70
Views: 7274

My pension dinged by auditor mistake

On Monday, I observed that my pension direct deposit was nearly $600 less than normal. Given that my former employer is on shaky ground I had all sorts of thoughts as to what was going on. The monthly statement did not show up in the mail Monday, I suppose due to weather. After looking at the delta,...
by Carl53
Thu Feb 06, 2014 10:55 am
 
Forum: Personal Finance (Not Investing)
Topic: My pension dinged by auditor mistake
Replies: 3
Views: 776

Re: Winter coats:

I've got two Carhartts, one for down to perhaps 10 degrees, and one for below that. I used to wear dressier coats, but often felt let down with their wear or functionality. I have several other coats in the closet, but functionality has ruled since I've followed this website. Better yet the older co...
by Carl53
Tue Feb 04, 2014 4:38 pm
 
Forum: Personal Consumer Issues
Topic: Winter coats:
Replies: 53
Views: 3752

Re: Placing a trade while the market is closed

This is exactly why I prefer mutual funds to ETFs. You can place a trade when the market is closed and know you'll get a fair price (at close of trade the day after the order). When ordering my 'horse race' Roth conversions on Thursday, I chose to place one of them in VEMAX, emerging market fund. I...
by Carl53
Sun Feb 02, 2014 7:43 am
 
Forum: Investing - Theory, News & General
Topic: Placing a trade while the market is closed
Replies: 19
Views: 1521

Re: Buying Service Credits

Is the extra $401/month just for the 7 years until SS is available? If so that would not be particularly a good return. $26K for about $33k return. If it is for life, then it is much more attractive. You could compare the cost of buying an annuity deferred by six years paying 401/month with the 26k ...
by Carl53
Fri Jan 31, 2014 10:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying Service Credits
Replies: 6
Views: 903

Re: Keeping internet provider without price hikes

I've had several instances where a provider offers discounts upon my complaint or threat to look elsewhere and then have the discount not show up. DIRECTV has currently lied twice in the last two months about providing a discount to keep me. Frontier, promised a discount that they eventually honored...
by Carl53
Fri Jan 31, 2014 10:08 am
 
Forum: Personal Consumer Issues
Topic: Keeping internet provider without price hikes
Replies: 53
Views: 3934

Re: Roth Conversion "Horse Race"

https://www.fidelity.com/viewpoints/retirement/how-to-reverse-a-roth-conversion Very interesting strategy. This Fidelity link has some useful examples I've done a little of this a few times. This year I recharacterized in December as I did not properly understand the followup conversion as stated i...
by Carl53
Wed Jan 29, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: Roth Conversion "Horse Race"
Replies: 41
Views: 3917

Re: How to security freeze your credit?

TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP. SS...
by Carl53
Sun Jan 26, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to security freeze your credit?
Replies: 22
Views: 1094

Re: How to security freeze your credit?

TIP: before freezing your credit, go to the Social Security web site and set up an account. Experian manages the job of authenticating people signing up for a My Social Security account, and for some reason they can't figure out how to overlook a credit freeze THAT THEY HAVE BEEN PAID TO SET UP. SS...
by Carl53
Sun Jan 26, 2014 8:11 am
 
Forum: Personal Finance (Not Investing)
Topic: How to security freeze your credit?
Replies: 22
Views: 1094

Re: POLL: What Percentage of Your Retirement Portfolio is Ro

14% Roths and increasing about 1% per year by conversions to the top of the 15% bracket.
by Carl53
Fri Jan 24, 2014 5:24 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: What Percentage of Your Retirement Portfolio is Roth?
Replies: 42
Views: 3025

Re: Social Security Payback

There is an ongoing thread when doing this is suggested as a consideration. http://www.bogleheads.org/forum/viewtopic.php?f=2&t=131204&newpost=1933142&start=50 After reading sscritic's detailed response in this thread, I wonder if anyone successfully tried both of the options mentioned ...
by Carl53
Wed Jan 22, 2014 5:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Social Security Payback
Replies: 7
Views: 1071

Re: Medical expense deductions

No. http://www.irs.gov/publications/p502/ar02.html#en_US_2013_publink1000178947 Employer-Sponsored Health Insurance Plan Do not include in your medical and dental expenses any insurance premiums paid by an employer-sponsored health insurance plan unless the premiums are included on your Form W-2, Wa...
by Carl53
Wed Jan 22, 2014 5:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical expense deductions
Replies: 3
Views: 343

Re: Social Security Payback

There is an ongoing thread when doing this is suggested as a consideration. http://www.bogleheads.org/forum/viewtopic.php?f=2&t=131204&newpost=1933142&start=50 After reading sscritic's detailed response in this thread, I wonder if anyone successfully tried both of the options mentioned b...
by Carl53
Wed Jan 22, 2014 5:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Social Security Payback
Replies: 7
Views: 1071

Re: Should everyone own I Bonds?

The tax issues are puzzling. I don't mentally think of I bonds as tax-advantaged. I bonds (like variable annuities) have only a weak tax break: you buy them with post-tax money AND you pay taxes when you redeem them. They do offer nontaxable compounding, but the earnings are so low that nontaxable ...
by Carl53
Sun Jan 19, 2014 2:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should everyone own I Bonds?
Replies: 44
Views: 5392

Re: Treatment of After-Tax 401k Contributions

I had several years that had relatively small after tax contributions 10-20 years ago in my then 401k/savings plan. Fortunately my plan allowed withdrawals of after tax contributions. It still took several iterations to purge the contributions and earnings. The earnings were on the order of 1k or le...
by Carl53
Sun Jan 19, 2014 2:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Treatment of After-Tax 401k Contributions
Replies: 31
Views: 1254
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