Search found 2223 matches

by LeeMKE
Tue Feb 27, 2024 2:37 am
Forum: Personal Investments
Topic: Asset Allocation help
Replies: 16
Views: 2153

Re: Asset Allocation help

+1 Beensabu
by LeeMKE
Tue Jan 02, 2024 7:14 am
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

+1 everyone's comments above.

I have my MBA in Real Estate Development. Nope, not even tempted by this "opportunity."
by LeeMKE
Sat Dec 23, 2023 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141269

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

I made the switch to Monarch Money last month and am satisfied it will meet my needs.

I am NOT leaving my data in MINT to be migrated to Credit Karma. Just don't trust that I'll be able to delete my data after Jan 1.

I'm following the instructions here:
https://mint.intuit.com/support/en-us/h ... n_US_en_US

The path was not straightforward, but I poked around to find the path to delete only my MINT data, and not my TurboTax data. I received an email confirming the request, which will take a couple weeks to complete.
by LeeMKE
Mon Oct 23, 2023 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with McClung: LivingOffYourMoney worksheet
Replies: 1
Views: 481

Re: Need help with McClung: LivingOffYourMoney worksheet

I found my error!

An extra % was at the end of the inflation entry. All fixed!
by LeeMKE
Mon Oct 23, 2023 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with McClung: LivingOffYourMoney worksheet
Replies: 1
Views: 481

Need help with McClung: LivingOffYourMoney worksheet

This is an excel spreadsheet.
I am not able to figure out where the error is, but it is not calculating this year for me. Many cells have the ominous #VALUE! error.

Is there anyone willing to take a look at my spreadsheet and see if you can fix the problem? (And tell me what I broke, so I can write instructions for myself for future use?)
by LeeMKE
Thu Oct 05, 2023 6:56 pm
Forum: Personal Investments
Topic: Withdrawal phase- reinvest dividends and capital gains?
Replies: 10
Views: 1095

Re: Withdrawal phase- reinvest dividends and capital gains?

I set my accounts up based on the market.
Most of the time, the bucket for draws is funded for the next several years, so all dividends get reinvested.

But, when I am drawing down the cash bucket because I am avoiding selling equities (like now), I turn off reinvestment to allow cash to pool and slow down the emptying of the cash bucket.
by LeeMKE
Wed Aug 09, 2023 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: IRS and Roth Conversion then withdrawal
Replies: 10
Views: 877

Re: IRS and Roth Conversion then withdrawal

I believe each ROTH conversion (not contribution) has its own 5 year rule. https://www.schwab.com/ira/roth-ira/withdrawal-rules I was curious about your comment, but the cite does not say anything about separate treatment per conversion when over age 59.5. So I don't think it makes a taxable (again) event when a recently converted amount is withdrawn. They just want their taxes, and those have been paid. In prior years, we could actually convert and then roll it back to IRA when the market moved against us within the tax year. That opportunity was legislated away several years ago. The withdrawal rules for a Roth conversion work somewhat differently, however. A traditional IRA or traditional 401(k) that has been converted to a Roth IRA wil...
by LeeMKE
Wed Aug 09, 2023 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: IRS and Roth Conversion then withdrawal
Replies: 10
Views: 877

Re: IRS and Roth Conversion then withdrawal

Yup. I'm over 59.5, and have previously filed 8606.

Details outside the focus of my query are shared by PM, rather than get into the weeds of details not pertinent to my relationship with the IRS.
by LeeMKE
Wed Aug 09, 2023 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: IRS and Roth Conversion then withdrawal
Replies: 10
Views: 877

IRS and Roth Conversion then withdrawal

Do I have any surprises if I do this?

I made a large conversion to Roth early this year and paid estimated taxes. The plan is to make a very large withdrawal from Roth to a taxable account at the end of this tax year. AFAIK, this should not have any impact on my tax return, nor with the IRS.

Hummm?
by LeeMKE
Mon May 22, 2023 1:53 pm
Forum: Personal Investments
Topic: Risk of having all assets at one broker
Replies: 5
Views: 1513

Re: Risk of having all assets at one broker

Here is what I am doing and why. I have 90%+ at Fidelity and 10% at Schwab. I worked with cybersecurity experts and know it is only a matter of time before one or another institution will be taken offline by bad actors. However, I'm not worried that my money will be in danger. The security used by the major institutions is sufficient to protect customer funds IMHO. However, it might take some time for such a firm to get back online and open for withdrawals. So, odds are that one may be offline at the moment I need a draw. In that case, I keep a Roth account at both institutions so there is no tax complication to draw from either brokerage if/when that happens. I am a big fan of KISS. As I age, I want the portfolio to eventually be idiot-pro...
by LeeMKE
Tue Feb 07, 2023 6:34 pm
Forum: Personal Investments
Topic: Solo 401k Record Keeping/Reporting
Replies: 4
Views: 672

Re: Solo 401k Record Keeping/Reporting

following
by LeeMKE
Wed Jan 18, 2023 7:39 pm
Forum: Personal Consumer Issues
Topic: [AmazonSmile charity program to be terminated]
Replies: 91
Views: 5506

Re: Amazon Smile donations to John Bogle Foundation [and other charities]

I just got the email. Closing by the end of February. Drat. It was an easy way to send a small donation to the Boglehead Foundation. Double drat.
by LeeMKE
Wed Jan 18, 2023 7:34 pm
Forum: Personal Consumer Issues
Topic: [AmazonSmile charity program to be terminated]
Replies: 91
Views: 5506

Re: Amazon Smile donations to John Bogle Foundation [and other charities]

I just went out to Amazon, and cannot find any mention of the program being changed or discontinued.
by LeeMKE
Sat Dec 10, 2022 6:12 pm
Forum: Personal Investments
Topic: Evaluate my Portfolio
Replies: 13
Views: 1762

Re: Evaluate my Portfolio

+1 retiredjg
by LeeMKE
Sat Dec 10, 2022 5:19 pm
Forum: Personal Investments
Topic: Organizing a Portfolio for the last 10-15 years of Life
Replies: 7
Views: 1241

Re: Organizing a Portfolio for the last 10-15 years of Life

1. Turn our three fund portfolio into a single fund, something like VPGDX Managed Allocation Fund, VBAIX Balanced Index or VTINX Target Retirement Income. That way we could use Vanguard's automatic RMD service and any extra withdrawals would be fairly simple to perform (no need to use the trading platform). This option would be my choice of the 3. Like you, I have a plan to put the portfolio on auto-pilot after age 80. This option, that comes from research done by Micheal Kitces (sorry, I don't have a cite. Search for retirement glide path on his website and it should pop up.) is to let the portfolio glide. In other words, just stop rebalancing. Once you are no longer dependent on the entire portfolio, just take your draws from the bond fu...
by LeeMKE
Wed Dec 07, 2022 11:17 pm
Forum: US Chapters
Topic: Wisconsin - Milwaukee meetings - Master Thread
Replies: 29
Views: 9467

Re: Wisconsin - Milwaukee meetings - Master Thread

Milwaukee Chapter of Bogleheads is closed.

Madison Chapter of Bogleheads is meeting every other month. Contact madison-wi-bogleheads@googlegroups.com for information about their meetings.
by LeeMKE
Sun Dec 04, 2022 7:57 pm
Forum: Personal Investments
Topic: FIRE goal in 5 years: pay off mortgage or invest all available cash
Replies: 38
Views: 5324

Re: FIRE goal in 5 years: pay off mortgage or invest all available cash

Why I am thinking FI in 5 years is unachievable? Yup. Five years is a stretch. But if the mortgage payment is $20k of the $50K annual expense, they need $750k, rather than $1.5M or $1.25M So, I think it is possible for the OP. OP has a 200K portfolio with a 400K house and 300K mortgage. OP plan to early retire in 5 years. Would you still recommend OP to pay off the 300K mortgage? OP's portfolio is very small as compared to the 400K house. Yup, agree with the facts presented by OP, and if we were advising OP on whether to buy that house, I'd be all in on NO. I don't presume to change the desires of OP, so while you or I might not want to have this much tied up in a house when our retirement is not yet funded, we aren't the OP. If, as the OP...
by LeeMKE
Sun Dec 04, 2022 6:33 pm
Forum: Personal Investments
Topic: FIRE goal in 5 years: pay off mortgage or invest all available cash
Replies: 38
Views: 5324

Re: FIRE goal in 5 years: pay off mortgage or invest all available cash

Congratulations and welcome! I have a different opinion about paying down the mortgage. Yes, five years is too short a period for any investment in a taxable account to beat the sure thing of paying down your mortgage. Bear in mind that paying down a 30 year mortgage has a higher yield than your mortgage interest rate. Every dollar paid early compounds the amount of principal paid the following month. Run your own mortgage out with current payments and proposed pre-payments to see exactly how much more "profit" you get with prepayment. My guess is your yield will be as much as double the interest rate on your mortgage. You are older than many we see here, and have fewer unknowns (like a young family, or an uncertain career). So, I...
by LeeMKE
Mon Aug 29, 2022 4:37 pm
Forum: Personal Investments
Topic: Fellow Retirees: How Much Do You Have in “Bucket #1”?
Replies: 90
Views: 13092

Re: Fellow Retirees: How Much Do You Have in “Bucket #1”?

by Small Law Survivor » Mon Aug 29, 2022 4:24 pm LeeMKE wrote: ↑Mon Aug 29, 2022 4:20 pm I've been retired for 4 years. My Bucket #1 has between 2 - 4 years of withdrawals, invested in laddered CDs. When stocks are up, I rebalance and sell some stocks, and refill the CD ladder. When stocks are down, I draw only from the maturing CDs, and allow the total in CDs to float down. I have rungs maturing every 6 months. Each rung is double what I expect to withdraw, giving me an emergency source of cash, which if unneeded, gets reinvested. So you are a "one way" rebalancer? You rebalance out of stocks and into CDs, but you don't rebalance into stocks? I do rebalance into stocks. However, if things get bad enough that I must choose, I'll ...
by LeeMKE
Mon Aug 29, 2022 4:20 pm
Forum: Personal Investments
Topic: Fellow Retirees: How Much Do You Have in “Bucket #1”?
Replies: 90
Views: 13092

Re: Fellow Retirees: How Much Do You Have in “Bucket #1”?

I've been retired for 4 years.

My Bucket #1 has between 2 - 4 years of withdrawals, invested in laddered CDs. When stocks are up, I rebalance and sell some stocks, and refill the CD ladder. When stocks are down, I draw only from the maturing CDs, and allow the total in CDs to float down.
I have rungs maturing every 6 months.
Each rung is double what I expect to withdraw, giving me an emergency source of cash, which if unneeded, gets reinvested.
by LeeMKE
Sun Jul 17, 2022 3:04 pm
Forum: Personal Investments
Topic: Convert Traditional IRA and SEP IRA into one?
Replies: 32
Views: 2225

Re: Convert Traditional IRA and SEP IRA into one?

You can do a mid-year conversion, and you could do one now, and a second at the end of the year. Your call on when to move the accounts between brokers. Me, I like to keep an eye on my money. So I would do one move, confirm it completed, then do the next one. Why risk someone getting mixed up and moving the wrong account or the wrong assets? Two factors feed the conversion decision: --Not wanting to convert and then the asset drops in value, and you could have saved a bit in taxes by converting later. (This year everything is already dropped, so not as much risk of a big drop between now and year end.This is only an emotional issue. By 3 years out it will be a negligible difference.) --Needing to avoid doing a conversion, and then having so...
by LeeMKE
Sun Jul 17, 2022 2:38 pm
Forum: Personal Investments
Topic: Convert Traditional IRA and SEP IRA into one?
Replies: 32
Views: 2225

Re: Convert Traditional IRA and SEP IRA into one?

I'll start off with answers I know, and expect others will be along soon to fill in the blanks. Yes, you can convert the IRA to Roth and pay the taxes. From what you've said, this is a good year for you to do this. And, this is a great moment to do it when equities are down so your tax will be lower! I do not know what VT is, but I'm guessing it is an equity fund. I think you can also convert the SEP IRA funds to Roth (I am not expert on SEP IRA). And certainly you can move the converted funds to the same Roth account. You do not have to close the SEP IRA to do this. The way to think about this is that you are converting the contents of the account. You are not converting the IRA account itself. Just moving the assets. If you want future co...
by LeeMKE
Sun Jul 17, 2022 8:51 am
Forum: Personal Investments
Topic: College Student Portfolio Critique
Replies: 14
Views: 1382

Re: College Student Portfolio Critique

These are my current recommendations for young investors: Quit Like A Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen and Bryce Long Their website: millennial-revolution.com Youtube videos by JL Collins: The position of [offensive language removed by admin LadyGeek] You <https://youtu.be/eikbQPldhPY> A tribute to John Goodman's version in The Gambler https://youtu.be/eikbQPldhPY A Guided Meditation for When the Stock Market Is Dropping <https://www.youtube.com/watch?v=OOGU94eL07E> The market is plunging. You're starting to panic. You want to hit the "sell" button! DON'T! Tune into this relaxing meditation, and let the soothing voice of JL Collins help you embrace this wonderful market cycle. https://www.youtu...
by LeeMKE
Sun Jul 17, 2022 8:08 am
Forum: Personal Finance (Not Investing)
Topic: MINT by Intuit: Abandon the account?
Replies: 17
Views: 2018

Re: MINT by Intuit: Abandon the account?

Before you abandon it, which maybe you should if it’s that aggravating, why can’t customer service get your log in problems fixed?
That's who I spent hours on the phone with. Customer service in four different locations. The last person was actually with TurboTax, and I had high hopes after submitting my driver's license for ID verification. But nope. Same end result.
by LeeMKE
Sun Jul 17, 2022 6:23 am
Forum: Personal Finance (Not Investing)
Topic: MINT by Intuit: Abandon the account?
Replies: 17
Views: 2018

Re: MINT by Intuit: Abandon the account?

I would be thinking about how to simplify my financial life such that a tool like Mint wasn’t needed.
Yup. I'm almost there. One more year of expenses (which I used MINT to track) and then my tax return will not require this information at all. I'm very close to being able to abandon it, but it looks like it has abandoned me!
by LeeMKE
Sun Jul 17, 2022 5:55 am
Forum: Personal Finance (Not Investing)
Topic: MINT by Intuit: Abandon the account?
Replies: 17
Views: 2018

MINT by Intuit: Abandon the account?

I'm having trouble logging in to MINT. I've spent hours on the phone trying to get access. Nothing has worked. If I abandon the effort and go to another aggregator, is there anything I should do about the logins I have provided?

All my financial accounts get a new password each year. So I could just escalate the date for this year and cut off access.

I realize I will lose my history, but so far, I will lose some tax data, but otherwise am thinking through my other uses to be sure I can abandon the account. (I sure wish I had one last opportunity to download current year tax items, but I might have to live with that.)

Anything else I should be thinking about?
by LeeMKE
Thu Jun 30, 2022 2:02 pm
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

:sharebeer
Good work! The heavy lifting is done. No hurry on tying up your cash too tightly until you are sure you won’t be buying a house.
by LeeMKE
Sun Jun 26, 2022 8:36 am
Forum: Personal Investments
Topic: Deciding the order of accounts to pull from in retirement
Replies: 22
Views: 5379

Re: Deciding the order of accounts to pull from in retirement

collecting social security in final life stages.
So, you consider after age 70 as your final life stage? :oops:
by LeeMKE
Sun Jun 26, 2022 8:31 am
Forum: Personal Investments
Topic: Asset placement and rebalancing bonus
Replies: 8
Views: 858

Re: Asset placement and rebalancing bonus

I am doing the same as OP. Roth is stuffed with equities, IRA has equities and bonds. So, rebalancing happens in the IRA account. I used to preserve rebalancing opportunities in Roth by having bonds in both IRA and Roth. The reason to put equities in Roth is because those assets are expected to be the higher performing assets over time. So, I want to maximize that tax-paid space. Rebalancing is to keep my risk at a steady state (even though it hasn't kept my portfolio at all steady this year!). The objectives are different. But they are both ways to gig your returns a bit. Nothing is gained by rebalancing within the Roth and holding enough bonds there to do so, because most of the time, bonds in Roth is wasting some valuable tax free shelte...
by LeeMKE
Sun Jun 26, 2022 7:22 am
Forum: Personal Investments
Topic: Deciding the order of accounts to pull from in retirement
Replies: 22
Views: 5379

Re: Deciding the order of accounts to pull from in retirement

The question is more complicated if they hold a variety of types of accounts. Rules of thumb are not universal in the question of where to pull from for withdrawals. In my case, the default "rule of thumb" created a tax bubble in my 80s, ballooning from 22% to 34% for 4 years. That got me researching how to address this issue now, rather than have to deal with it in my 80s. I used I-ORP.com, extended calculator to calculate my situation for withdrawals. If you do not want to do any Roth Conversions, just turn off that option. The worksheets from that free calculator calculate specific accounts to draw from each year. It calculates the optimum tax situation (as far as we know at this time) to avoid a variety of problems that may or...
by LeeMKE
Sat May 21, 2022 9:35 am
Forum: Personal Investments
Topic: MIL Portfolio- safe as possible?
Replies: 29
Views: 2270

Re: MIL Portfolio- safe as possible?

If bond durations roughly match the investor's investment horizon, "recovery" is virtually guaranteed for the bonds (assuming the issuer doesn't default, of course). A price drop on bonds means, by definition, that the future expected return of the bonds (i.e. the yield to maturity) has risen. On the other hand, shortening duration (by switching to CDs) AFTER a drop in price for intermediate and long-term bonds is a way of ensuring that the investor never recovers. Sorry, I should have been more clear. My bond FUND dropped precipitously. And in this environment, it will drop more as the Fed confirmed yesterday they will continue to raise interest rates. If I'd held individual bonds until maturity, like my CDs, I would not have lo...
by LeeMKE
Sat May 21, 2022 9:19 am
Forum: Personal Investments
Topic: Give me my first Portfolio Review, please!
Replies: 10
Views: 1669

Re: Give me my first Portfolio Review, please!

Yes to iBonds, and this is a good opportunity to sell off the individual stocks. Otherwise you are pretty streamlined. Continue saving, because your portfolio can't yet generate your target of 120k/year. My guess is you won't need that much, but it won't hurt to grow the portfolio these last few years. You are close enough to retirement that you might want to consider pooling savings and pay off the mortgage once your ordinary income stops. Right now, you get a little shelter from the payment of interest, and that might be helping you save more money. I have no problem with all stocks at age 44. I was mostly this and then flipped to 60/40 for launch into retirement, and now am gliding back to 80/20. Pfau's book was illuminating, so now I kn...
by LeeMKE
Sat May 21, 2022 8:59 am
Forum: Personal Investments
Topic: Give me my first Portfolio Review, please!
Replies: 10
Views: 1669

Re: Give me my first Portfolio Review, please!

So far, so good! IMHO, you do not need disability insurance because your portfolio can carry you in case of disability. I carried this coverage for years (it is EXPENSIVE) until my portfolio was sufficient to carry me if I became disabled. I know I'm going to have a bit of a struggle switching from the saving to spending like many on this board mention, but that's the way it goes. Even $75k is an extra $2k/month, I don't know what I'd even spend it on but I'll find a way :D. Does anyone have suggests on dealing with this transition? BEST BOOK you need to read is Wade Pfau's latest: Retirement Planning Guidebook. Here's the top review: 5.0 out of 5 stars Over 50? Save yourself time and bother by starting with this book Reviewed in the United...
by LeeMKE
Sat May 21, 2022 8:42 am
Forum: Personal Investments
Topic: MIL Portfolio- safe as possible?
Replies: 29
Views: 2270

Re: MIL Portfolio- safe as possible?

Let me restate my question. Would it be reasonable to replace bonds with CD’s for the fixed portion of her portfolio. Last I checked CD’s are always going up in value with no risk to the principal. Bonds can easily drop their nav so one may conclude CD’s are safer than bond funds. It is reasonable, and that is exactly what I just did. BUT I'm 66. By 80, I'll have everything on autopilot, likely in a fund like the one you are in, and set up for auto deposits to the checking account. The BIG drop in my bonds, alongside the stocks, wasn't pleasant, and I have zero expectation of a recovery in long term bonds, so I made the change. I'm good with sitting on equities bobbling around, but not the bonds. Having a big drop in stocks AND bonds is un...
by LeeMKE
Wed May 18, 2022 3:49 pm
Forum: Personal Investments
Topic: Portfolio Review Requested for Newly Retired Couple
Replies: 15
Views: 2668

Re: Portfolio Review Requested for Newly Retired Couple

I am guessing that you have considered the 3 fund and 4 fund portfolios and rejected them.

You've already done most of the work: combining accounts and putting everything in one place. You aren't using high expense funds, and while it will be a little hairy rebalancing with all those funds, it is nice and tidy.

One note that may not be of interest: I put a bit at another brokerage as cybersecurity insurance. If I need a draw, and there has been a successful attack, and they need some time to recover and confirm all holdings, I can just take a draw from the other firm instead.

No comments because you've left nothing for us to do! Enjoy your retirement!
by LeeMKE
Tue May 17, 2022 2:03 am
Forum: Personal Investments
Topic: Taking Control of our Investments and Portfolio Assessment.
Replies: 8
Views: 1268

Re: Taking Control of our Investments and Portfolio Assessment.

In regards to the 529. Not sure how we ended up with two slightly different portfolios?? but here they are: Child 1 (age 10) - moderate growth portfolio Vanguard® Institutional Total Stock Market Index Fund 30% Vanguard® Total International Stock Index Fund 20% Vanguard® Total Bond Market II Index Fund 35% Vanguard® Total International Bond Index Fund 15% Child 2 (age 8) - moderate portfolio 65% stock and 35% bonds Vanguard Institutional Total Stock Market Index Fund 37.50% Vanguard Total International Stock Index Fund 25% Vanguard Total Bond Market II Index Fund 26.25% Vanguard Total International Bond Index Fund 11.25% My guess is that these accounts are set up to gradually move toward cash as the date for college approaches. So, you may...
by LeeMKE
Sun May 15, 2022 2:37 am
Forum: Personal Investments
Topic: Where to Keep Downpayment Savings?
Replies: 6
Views: 1110

Re: Where to Keep Downpayment Savings?

You have the best options for your case.

Keep going!
by LeeMKE
Sun May 15, 2022 2:32 am
Forum: Personal Investments
Topic: Portfolio Review
Replies: 6
Views: 1007

Re: Portfolio Review

+1 invest4
by LeeMKE
Sun May 15, 2022 2:27 am
Forum: Personal Investments
Topic: Bonds/CDs/MYGAs: Best non-stock vehicle in today’s world?
Replies: 33
Views: 4244

Re: Bonds/CDs/MYGAs: Best non-stock vehicle in today’s world?

I came here looking for this same advice. Great minds. . .
following.
by LeeMKE
Fri May 13, 2022 8:36 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

6. Use the cash in Taxable to buy bonds as per the portfolio outline.

So, you should end up with a tidy portfolio that is easier to manage and tax efficient.

Future RMDs are not sufficient to allow you to correct the SIP and other drags on returns in a reasonable time frame. You need to reorganize the portfolio. And you have a golden moment that will not last, when everything is down.

O.K. I think I'm finished.
by LeeMKE
Fri May 13, 2022 8:21 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

Send me a PM with your email address and I'll send you the excel file I created for your portfolio.

This would allow you to change the numbers as you go, so you can make adjustments as necessary.

Keep going!

P.S. I did not discuss Roth conversions (which will shock others on the forum who know I am a big advocate of Roth conversions to reset portfolios) because it will not move the needle for you. The big gain is to take advantage of this down market to get the portfolio reset and ready for ease of management. There are plenty of ideas to jigger portfolios into better shape. But you can hear lots of noise and get confused and then do nothing. One step at a time.
by LeeMKE
Fri May 13, 2022 8:19 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

OOPS! One mistake in Pete's post that is key to the OP
The drawbacks to a DAF
-While you do get a deduction, from the standpoint of making the impact you want to make with your donations, that doesn't happen until you tell the DAF to send a check to your charity. You still have to tell it to make the gift.
The deduction happens when the assets are moved into the DAF. No need to disburse to charities immediately.
by LeeMKE
Fri May 13, 2022 8:11 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

NYCPete » Fri May 13, 2022 7:44 am fermata wrote: ↑Thu May 12, 2022 8:56 pm I really appreciate the techniques you've advised I look into, but they also remind me of my anxiety about doing this sort of thing on my own. It comes back to the question of whether I should hire a fee for advice planner/tax consultant, or learn enough to execute these things on my own. Thanks again so much for your tax-saving/tax efficiency tips. Definitely going to dig into this. Speaking as a Boglehead who works in the charitable sector, you're going to run into this conundrum: most financial advisors, even a surprising number of good fee only ones, don't keep up on or prioritize effective charitable techniques. Most tax advisors don't have a good grasp of sou...
by LeeMKE
Fri May 13, 2022 7:59 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

5. The Taxable Account is last and will take several steps to keep your taxes at a reasonable level. a. First, the numbers on the chart will be different because you should have already moved all the individual stocks to the Charitable account, and an amount equal to or greater than your RMD for 2022. Pick your best winners to move IN KIND to the Charitable account. Jot down the total amount, which you will use in a few more steps. b. Next, match your winners and losers. That is, find out the gains/losses in each fund, and then match them so that you sell a fund with a $10000 gain, matched with a fund or two with a total $10000 loss, which will zero out taxes. This is a great moment to do this. DON'T PROCRASTINATE! You won't get another opp...
by LeeMKE
Fri May 13, 2022 7:34 am
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

NOTES: There are several goals in this process: Fix the bleeding caused by high fees and too much cash. Streamline the portfolio for easier management as your retirement progresses. Or, as my ISP states, "so a monkey can manage the portfolio if I become unable to do so." KISS is my motto. 3. Sell all in Roth and IRA. This is not a taxable event inside these accounts. 4. Buy your new funds as per this outline: ONE fund for each row. Remember, KISS. https://i.postimg.cc/fbgsKqnK/New-Fermata-Portfolio.png NOTES: I started with a portfolio as you described, 30% US Stocks (use Total Market, no need for slicing and dicing. That just raises fees and complexity) 10% International Stocks 50% Bonds 10% Cash But you mention that you may buy ...
by LeeMKE
Thu May 12, 2022 11:58 pm
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

It sounds like you are in agreement on several suggestions. So, here is a shopping list for you to do now. Please don't fool around and miss this once in a lifetime opportunity while all the markets are down. The last time I gave someone a shopping list, they dawdled until the market rose, and now are sitting on almost all cash and whining that they should have moved when we talked in 2009. That was a life altering mistake for them. Don't be them. 1. Open a charitable account at Schwab. Move assets equal to this year's RMD to this account, from your SIP. And think about moving more than this year's RMD - the sooner you get the assets in the charitable account, the more tax shelter you create for other sales in your taxable accounts. I would...
by LeeMKE
Thu May 12, 2022 4:10 pm
Forum: Personal Investments
Topic: My portfolio information and questions
Replies: 24
Views: 2107

Re: My portfolio information and questions

I'll make a stab at your questions: First, there is way too much complexity in your holdings for our taste. This does not have to be so difficult. Read about the 3 and 4 fund portfolios and move toward this. The fees you are paying are a big part of the reason your Roth is doing poorly. Yup, the SIP was a bad idea. Me, I'd rip the bandaid off and get rid of that account. Others may differ. Second, did you say what your annual spending is? No matter, you ain't spending 4% of 1.8 million. Once you make the decision about whether to buy a property, you might want to consider beginning gifts to your sisters instead of waiting for your demise. And converting to Roth for the next few years will position some money more efficiently. Third, in my p...
by LeeMKE
Mon May 09, 2022 3:46 am
Forum: Personal Finance (Not Investing)
Topic: 2021 Refund Times
Replies: 296
Views: 29859

Re: 2021 Refund Times

My refund is large and very late. Tax return submitted Feb 28 +/- IRS accepted the following day IRS website says Processing. I got a letter asking to confirm my identity, submitted ID confirmation online: letter dated April 8. April 17, and still waiting. Humph. I got a letter from the IRS confirming that I used their website to confirm my identity on April 8. The letter was dated 12April. 19 April, Check my Refund is still "processing" Sigh. Another week later, and still described as "processing" on the IRS website. Almost 2 months since the return was e-filed and accepted. Final update on my MIA refund. I'd been checking on my status almost daily, and then one day saw that it was approved for payment within the next ...