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Re: Contacted by Internal Revenue Services

DonCamillo

Sounds like fun. The last call I got I talked to the "fellow" a bit and then asked him how he liked making a living as a scam artist.
by Peter Foley
Mon Mar 02, 2015 9:32 pm
 
Forum: Personal Consumer Issues
Topic: Contacted by Internal Revenue Services [Scam]
Replies: 18
Views: 1005

Re: Legal Fees for Trusts and Wills

We had an attorney talk about Estates and Trusts at our February 2014 MN Bogleheads meetings. He stated that a straightforward package for someone with 3M in assets would cost between $2000 and $3000.
by Peter Foley
Mon Mar 02, 2015 9:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 34
Views: 1816

Re: Taxes on Qualified Dividends (CA resident)

You should be OK in the 15% bracket for dividends until you are above the 35% bracket for ordinary income. (This is according to a tax guide I have that has been accurate in the past.)
by Peter Foley
Mon Mar 02, 2015 9:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taxes on Qualified Dividends (CA resident)
Replies: 2
Views: 72

Re: More intl exposure in Life Strategy Growth - drop out of

wassabi wrote: Go with what you think is best for your daughter. If you don't like the extra international, exchange for the TSM and TBM combo. I personally would not want Vanguard making those changes to my portfolio. I agree. I think there is an added benefit. At some point she will have enough sp...
by Peter Foley
Mon Mar 02, 2015 9:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: More intl exposure in Life Strategy Growth - drop out of it?
Replies: 12
Views: 629

Re: Analysis and Advice

No need to rush with the 401k. You have a few excellent options there and can build the rest of your portfolio around them.
by Peter Foley
Sat Feb 28, 2015 12:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Analysis and Advice
Replies: 7
Views: 627

Re: Analysis and Advice

The biggest issue you will have is with your taxable accounts. There you will have to plan your simplification (and expense ratio reduction) with a eye on tax liabilities. Funds in deferred accounts and Roths are easier to deal with as there are no tax consequences when you buy and sell. I would fir...
by Peter Foley
Fri Feb 27, 2015 11:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Analysis and Advice
Replies: 7
Views: 627

Re: Retirement - Surprises, Solutions

I am surprised at how much I enjoy avoiding the severe winter cold here in Minnesota. I smile on cold mornings, whereas in the past I would have been bundled up waiting for the bus.
by Peter Foley
Fri Feb 27, 2015 8:50 pm
 
Forum: Personal Consumer Issues
Topic: Retirement - Surprises, Solutions
Replies: 30
Views: 3588

Re: Please take a look at my portfolio (edited version)

Just an affirmation to keep the TSP and to simplify. I would hold just one asset there, one that you cannot duplicate elsewhere. G is a good option. You can diversify your bond holdings elsewhere.
by Peter Foley
Thu Feb 26, 2015 3:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please take a look at my portfolio (edited version)
Replies: 7
Views: 666

Re: IRS Called and Asked for Personal Information

I'm not a moderator, but I will weigh in. Bogleheads.org gets new viewers every week. I would recommend that this be kept in mind. I would not discourage someone from posting about a financial/identity scam.
by Peter Foley
Thu Feb 26, 2015 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Called and Asked for Personal Information
Replies: 16
Views: 1641

Re: Guns for hunting/defense

A couple thoughts in the guns for hunting category. One really needs to consider the game one is hunting and the terrain. I have hunted in wooded areas of central and northern MN since childhood. In the areas I have hunted, a shot of over 100 yards is rare for large game, and 30 to 40 yards max for ...
by Peter Foley
Thu Feb 26, 2015 8:26 am
 
Forum: Personal Consumer Issues
Topic: Guns for hunting/defense
Replies: 126
Views: 6550

Re: Asset Allocation Advice

RGB You might want to go back and edit your original post. The Vanguard International fund has an expense ratio of 0.22, not 1.22. If your 401k has some good low cost options it would likely to be to your advantage to contribute to it while in the 25% + 8% tax bracket. At those rates I would favor t...
by Peter Foley
Wed Feb 11, 2015 2:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation Advice
Replies: 8
Views: 447

Re: Attempting to increase retirement contributions by 5%.

Expenses - clothes are a little high if you are looking at monthly costs, Do you really need life insurance? Who is dependent upon your income? Cheaper parking if you walk a couple blocks? Can you drive and park and take the bus or light rail? Do you need both Amazon Prime and Netflix? Does Comcast ...
by Peter Foley
Wed Feb 11, 2015 12:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Attempting to increase retirement contributions by 5%.
Replies: 25
Views: 1924

Re: Need help with AA and simplifying portfolio

I agree that you should greatly simplify. You might get more feedback here if you provided mutual fund names and expense ratios and not just the ticker symbols. I would use part of the settlement to pay off the boat and car. Consider this like a bond investment earning 4% to 5%. It is safe and you c...
by Peter Foley
Tue Feb 10, 2015 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help with AA and simplifying portfolio
Replies: 3
Views: 358

Re: DH and I are buying bicycles

tigermilk » Mon Feb 09, 2015 10:35 pm derosa wrote: Get as much air in your road tires as possible 120 - 130 lbs to start. That keeps resistance down. Those fat, partly inflated tires on a mountain bike are nothing but dead resistance on the road. only if you are really heavy. 120-130 psi may actua...
by Peter Foley
Mon Feb 09, 2015 11:59 pm
 
Forum: Personal Consumer Issues
Topic: DH and I are buying bicycles
Replies: 39
Views: 1591

Re: DH and I are buying bicycles

First off, I work part time in a bike shop. I only work on used bikes, fixing them for sale, repair or charitable donation. I fix well over 100 bikes a year. I personally own 6 bikes. While you do need a bike that fits you well, equally as important is to have a bike that accommodates your riding st...
by Peter Foley
Mon Feb 09, 2015 7:00 pm
 
Forum: Personal Consumer Issues
Topic: DH and I are buying bicycles
Replies: 39
Views: 1591

Re: Capital Gains help

Indexbeliever: It is hard to say what you should do because we lack information that might be helpful in providing advice. For example, if you are currently not contributing to a 401k and, by doing so, you would be in the 15% bracket, it would make sense to take some capital gains to close to the to...
by Peter Foley
Sun Feb 08, 2015 11:36 pm
 
Forum: Investing - Theory, News & General
Topic: Capital Gains help
Replies: 25
Views: 1478

Re: WSJ - Simple, Bedrock Rules on Personal Finance

I too will miss the WSJ Sunday Edition. I have saved a number of issues over the years because they provide a good basis for discussions at our MN quarterly Bogleheads' meetings.
by Peter Foley
Sun Feb 08, 2015 12:22 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ - Simple, Bedrock Rules on Personal Finance
Replies: 11
Views: 2135

Re: When 60/40 just isn't appropriate

Rick Interesting article. You provide, with data to support, a rational argument for retirees to consider 30/70 as the starting point for AA consideration while in the withdrawal phase. A point I would make is that this is would apply to a subset of retirees; those dependent upon an approximate 4% w...
by Peter Foley
Sat Feb 07, 2015 6:07 pm
 
Forum: Investing - Theory, News & General
Topic: When 60/40 just isn't appropriate
Replies: 127
Views: 13069

Re: Preventing Ice Build up in my roof gutters

While insulation, ventilation, and sealing air leaks are the long term solution that will not work in all instances. Our previous house had slanted ceilings on the second story. When we remodeled one of the rooms we removed the old ceiling and did as much as we could with sealing and insulation. Wit...
by Peter Foley
Fri Feb 06, 2015 6:27 pm
 
Forum: Personal Consumer Issues
Topic: Preventing Ice Build up in my roof gutters
Replies: 23
Views: 1845

Re: Need help with 401k fund re-balance

Depending on the rate offered, sometime the guaranteed interest account is a good substitute for a bond fund. If it is in the neighborhood of 3% or better I would take advantage of that.
by Peter Foley
Fri Feb 06, 2015 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help with 401k fund re-balance
Replies: 4
Views: 334

Re: Inherited Mutual Funds: Investing advice

I will second toons and Dale's opinions. You have a mix of funds that are high cost and overlap. You would be better off with a few low cost mutual funds. I think your wife's TSP has some low cost bond and stable value funds. I would concentrate my bond allocation there. If the inheritance is intend...
by Peter Foley
Fri Feb 06, 2015 12:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Inherited Mutual Funds: Investing advice
Replies: 67
Views: 3078

Re: What to do with extra space in 15% bracket

Personal opinion - I think 15% in taxes is a pretty low rate. I would try to structure income prior to retirement and withdrawals after retirement to avoid the 25% bracket. At times this means filling up the 15% bracket. Tax gain harvesting in the 15% bracket is one approach if you have a lot of you...
by Peter Foley
Fri Feb 06, 2015 12:30 am
 
Forum: Personal Finance (Not Investing)
Topic: What to do with extra space in 15% bracket
Replies: 7
Views: 906

Re: Wiki comments requested: The importance of asset allocat

I really like the opening. I think it is simple, straightforward, and very understandable to the new investor. Good work.
by Peter Foley
Thu Feb 05, 2015 12:10 am
 
Forum: Investing - Theory, News & General
Topic: Wiki comments requested: The importance of asset allocation
Replies: 208
Views: 10293

Re: Buy High, Sell Low : Avoid Market Timing

livesoft wrote: On the Roth IRA thing, I think one should buy something that has gone down at least a little bit during the year. So on Jan 2, there is nothing that has gone down yet. It is rather rare for Jan 2 to be the lowest day of the year for everything that one would want to purchase. I will ...
by Peter Foley
Tue Feb 03, 2015 11:19 pm
 
Forum: Investing - Theory, News & General
Topic: Buy High, Sell Low : Avoid Market Timing
Replies: 32
Views: 3215

Re: Simply portfolio to simplify taxes?

As long as you are holding a few mutual funds with one broker the accounting and taxes are pretty straight forward. If you use multiple brokers for taxable accounts, hold a lot of individual stocks, or buy and sell frequently you will increase the complexity of your taxes. I can't see that holding t...
by Peter Foley
Mon Feb 02, 2015 6:30 pm
 
Forum: Investing - Theory, News & General
Topic: Simply portfolio to simplify taxes?
Replies: 7
Views: 912

Re: Retirement Investment Help

I agree with the consensus regarding funding retirement before 529 plans. If your goal is to boost your retirement savings, an approach might be to fund a traditional IRA or 401k instead of a Roth. This would result in some tax savings so that more could be saved without having any impact on your sp...
by Peter Foley
Mon Feb 02, 2015 11:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Retirement Investment Help
Replies: 7
Views: 903

Re: Bonds vs. Some Utilities

investordoc wrote: Most all would agree that some portion of AA should have bonds as part of the equation. The % depends on many factors that an individual has to take into consideration. Given the low returns on bond funds and some negative returns would anyone consider holding some type of utility...
by Peter Foley
Sun Feb 01, 2015 9:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bonds vs. Some Utilities
Replies: 22
Views: 2051

Re: Buy High, Sell Low : Avoid Market Timing

mbk734 wrote: Do you ever find yourself doing this? The market is on a roll doing great so you get greedy and buy more equities. The market tanks so you sell your equities and lose faith in investing. […] How do you avoid market timing? I think a basic understanding of the psychology of investing h...
by Peter Foley
Sun Feb 01, 2015 11:11 am
 
Forum: Investing - Theory, News & General
Topic: Buy High, Sell Low : Avoid Market Timing
Replies: 32
Views: 3215

Re: Wiki comments requested: The importance of asset allocat

Just below the link to the SEC is a section titled Asset Allocation 101.
by Peter Foley
Sun Feb 01, 2015 12:21 am
 
Forum: Investing - Theory, News & General
Topic: Wiki comments requested: The importance of asset allocation
Replies: 208
Views: 10293

Re: Wiki comments requested: The importance of asset allocat

I would start with the SEC definition instead of the one currently used: Asset allocation involves dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash. The process of determining which mix of assets to hold in your portfolio is a very personal one. The ...
by Peter Foley
Sat Jan 31, 2015 6:23 pm
 
Forum: Investing - Theory, News & General
Topic: Wiki comments requested: The importance of asset allocation
Replies: 208
Views: 10293

Re: POLL: How Will You Complete Your 2014 Taxes?

Francis wrote: Reluctantly Turbo Tax, due to the changes in pricing. Have used TT in previous years. I planned to check out the other popular software but it's important that previous years returns are recognized. Just easier to use TT again. I'm in the same boat. I'm tired of the up-selling as well...
by Peter Foley
Sat Jan 31, 2015 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How Will You Complete Your 2014 Taxes?
Replies: 69
Views: 4763

Re: Minnesota mtg | Feb-7 @ 9:30am | Library in Minnetonka

Here is the Agenda (unformatted) BH Agenda 2-7-2015 9:30a WELCOME & Opening Remarks - Diann & Sandra 9:35 Update on splinter groups , East and West 9:40 Topic of the Day: "Asking Portfolio Questions: 3 (hypothetical) Portfolio Reviews 9:45 Main Topic - Full Group, Interactive We'll cove...
by Peter Foley
Thu Jan 29, 2015 6:33 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Minnesota mtg | Feb-7 @ 9:30am | Library in Minnetonka
Replies: 10
Views: 910

Re: Minnesota mtg | Feb-7 @ 9:30am | Library in Minnetonka

One of the breakout sessions will be about risk. We will take a risk survey, compare notes and talk about AA implications. We did this at a 2008 meeting after the market had fallen - there were some interesting results.
by Peter Foley
Wed Jan 28, 2015 9:02 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Minnesota mtg | Feb-7 @ 9:30am | Library in Minnetonka
Replies: 10
Views: 910

Re: Pros & Cons of Proposed Investment Plan--too complicated

I agree with foregoing the REITs if you already have investment property. (This is my approach.) With the age differential between you and your husband, I would be tempted to do a regular IRA and skip the Roth conversion. Your husband's RMD's will continue to grow and you are already in the 28% brac...
by Peter Foley
Tue Jan 27, 2015 5:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pros & Cons of Proposed Investment Plan--too complicated?
Replies: 9
Views: 987

Re: 40 years of IRA and 401k Contributions

Occasionally in threads about RMDs there are a few comments about how only a small percentage of the population has rare large sums of money in deferred accounts. While this might be true with respect to the percentage of the overall population, the baby boomers came of age and started saving about ...
by Peter Foley
Mon Jan 26, 2015 4:01 pm
 
Forum: Investing - Theory, News & General
Topic: 40 years of IRA and 401k Contributions
Replies: 18
Views: 2309

Re: Poll: Locating deceased person's assets

I was the executor for my mother's estate. She had slowly progressing dementia over a period of about 15 years. As I had taken over the management of her finances and done her taxes for years I knew where almost everything was. Her financials were very organized when she was younger. She was a profe...
by Peter Foley
Sun Jan 25, 2015 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Locating deceased person's assets
Replies: 33
Views: 2316

Re: 401k to Roth conversion for a retiree

repete wrote: As a follow up question, could you please go over the arithmetic? The difference between gross income of 95K and taxable income of 74.9K is 20.1K. 15% of 95 K is not 20.1K. So, I'm again a little confused about these numbers. Also, if 4% of 1Mil is 40K, why is it 36.5, 38, and 39 RMD, ...
by Peter Foley
Sat Jan 24, 2015 6:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k to Roth conversion for a retiree
Replies: 15
Views: 1274

Re: Half off TurboTax thru Monday

Answers to a couple questions. I do taxes for my two daughters families as well so I like to have the CD in case I have to go back and file an amended return. My PC is getting a little old so having the CD is insurance. I had to pay $3.95 to have the CD shipped. This answers the question, "Do I...
by Peter Foley
Sat Jan 24, 2015 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Half off TurboTax thru Monday
Replies: 37
Views: 4398

Re: Half off TurboTax thru Monday

Thanks for posting. I got Home and Small business for a little less than I paid last year for Premier.
by Peter Foley
Fri Jan 23, 2015 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Half off TurboTax thru Monday
Replies: 37
Views: 4398

Re: Grandfather wanting to transfer portfolio to kids. Ques

HomerJ » I'm 80, and I have all my money in a simple 3-fund Vanguard portfolio... I want to give my money to my kid now, and I tried to explain why the 3-fund portfolio was simple, easy to manage, generates a decent return, and is less volatile. My daughter (and her son-in-law) told me that they ha...
by Peter Foley
Fri Jan 23, 2015 11:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Grandfather wanting to transfer portfolio to kids. Question
Replies: 67
Views: 3130

Re: 401k to Roth conversion for a retiree

bena If you have good low cost options in your 401k, I would recommend starting with your IRA and convert enough each year up to the top of the 15% bracket ($74,900 in taxable income - about $95,000 in gross income). Do this at least until you start taking SS. Then reassess your tax bracket and the ...
by Peter Foley
Fri Jan 23, 2015 11:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k to Roth conversion for a retiree
Replies: 15
Views: 1274

Re: 401k to Roth conversion for a retiree

ripete With $98,000 of other Modified Adjusted Gross income your SS benefits are "85%" taxable. So for each dollar of SS that you collect, you add another $.085 to your taxable income. So $36,000 X .85 = $30,600. Married filing jointly you will have 12,400 as a standard deduction and 7,900...
by Peter Foley
Fri Jan 23, 2015 11:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k to Roth conversion for a retiree
Replies: 15
Views: 1274

Re: Downsize, Reduce, Simplify.

Simplifying our financial lives is a high priority. I'm trying to do it without incurring high taxes. (To me, 15% is low, a lot in the 25% bracket is high.) We downsized in terms of "stuff" about 4 years when we moved. As mentioned, you have to keep at it as it creeps up on you over time. ...
by Peter Foley
Fri Jan 23, 2015 3:31 pm
 
Forum: Personal Consumer Issues
Topic: Downsize, Reduce, Simplify.
Replies: 72
Views: 9481

Re: TIPs, what do they really add

tludwig23 wrote: Yes, if inflation goes as predicted they serve no point. If there is significant unexpected inflation they are most useful. They are basically insurance against unexpected inflation. The cost of this insurance is small. This is my understanding as well. I also agree that the cost of...
by Peter Foley
Fri Jan 23, 2015 3:16 pm
 
Forum: Investing - Theory, News & General
Topic: TIPs, what do they really add
Replies: 33
Views: 2900

Re: I'm thinking about making very large 529 contributions A

No for a number of reasons. 529 plan contributions must be cash (you cannot transfer other assets). To make a large contribution in a single year would have undesirable tax consequences. I have thought about, but not explored in detail, the idea of setting up an educational trust for grandchildren.
by Peter Foley
Fri Jan 23, 2015 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm thinking about making very large 529 contributions ASAP
Replies: 71
Views: 5419

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Miriam2 wrote: Peter Foley wrote: When one first begins RMDs they average very roughly $4000/year per $100,000 for the each of the first 10 years of retirement. If you had space in the 15% tax bracket in the early years you might just fill up the bracket. If a married couple were to take only the mi...
by Peter Foley
Thu Jan 22, 2015 6:36 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 79
Views: 7149

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Miriam2 When one first begins RMDs they average very roughly $4000/year per $100,000 for the each of the first 10 years of retirement. If you had space in the 15% tax bracket in the early years you might just fill up the bracket. If a married couple were to take only the minimum for a number of year...
by Peter Foley
Thu Jan 22, 2015 3:02 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 79
Views: 7149

Re: Real 3% (CPI plus 3% guaranteed)

saltycaper wrote: If I understood the investment and was comfortable that it was actually going to perform as advertised, CPI + 3, I would probably allocate half my bond portfolio to it. Fantastic inflation protection. However, as rare as deflation has been, comparatively speaking over the past 50 y...
by Peter Foley
Thu Jan 22, 2015 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Real 3% (CPI plus 3% guaranteed)
Replies: 21
Views: 1858

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Interesting article - thanks for doing the work and publishing the results. Two things come to mind, the first of which you mention. For persons who have large deferred income accounts relative to other retirement assets, Roth conversions in the years prior to RMDs can help smooth out the tax obliga...
by Peter Foley
Thu Jan 22, 2015 1:15 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 79
Views: 7149

Re: Getting Organized and Planning for the Future

You only need a half dozen funds at most. When a plan becomes very complex it almost begs for paid adviser assistance. Simplify and you will find that this is not at all necessary. The three fund portfolio is a good start. There are a number of suggested portfolios on the Wiki that come highly recom...
by Peter Foley
Wed Jan 21, 2015 4:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Getting Organized and Planning for the Future
Replies: 13
Views: 1413
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