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Re: Annuities

I looked at SPIAs with short terms to cover the gap between retirement and taking SS at 70. The payouts for short terms(http://www.immediateannuities.com) were incredibly low and close to leaving the money under the mattress. Laddered CDs were probably a better deal. I ended up buying a fixed saving...
by SGM
Tue Apr 15, 2014 5:46 am
 
Forum: Investing - Theory, News & General
Topic: Annuities
Replies: 59
Views: 3707

Re: I saw a "Boglehead" on my flight yesterday!

I won a Vanguard coffee cup and used it to drink coffee while preparing tax returns for others. Several (smart) people were impressed and wanted to know where they could get theirs. I did not reveal the "how to" part. :) You are so lucky! I've attended seven conferences and never won anyt...
by SGM
Sat Apr 12, 2014 3:09 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: I saw a "Boglehead" on my flight yesterday!
Replies: 65
Views: 7357

Re: negotiation for MD, contracts, RVUs etc

I just recently signed a generous RVU contract in December. The initial offer was a little low to my mind. I told the physician manager I wanted a guarantee of what I made the prior year with bonuses. He gave it to me but pointed out that I was making a lot more than most physicians in my specialty,...
by SGM
Fri Apr 11, 2014 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: negotiation for MD, contracts, RVUs etc
Replies: 11
Views: 634

Re: Advice for my retirement plan

You are going with a dividend strategy in your Roth and taxable account. There is a lot of debate about the wisdom of that that strategy. If you get into the higher brackets you may regret having a lot of dividends in your taxable brokerage account. You do lose some of your taxable investment every ...
by SGM
Fri Apr 11, 2014 5:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for my retirement plan
Replies: 2
Views: 521

Re: Employer profit sharing rules on a Keough?

Try this website: http://www.individual401kcalculator.com/
Based on a $100k salary-
For an S corp or C corp a solo 401k max is 48k or LLC taxed as a corporation
For a sole proprietorship a solo 401k max is 41,587.5 or LLC taxed as a sole proprietorship.
by SGM
Wed Apr 09, 2014 8:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer profit sharing rules on a Keough?
Replies: 1
Views: 125

Re: Why pay off your house?

This was an easy decision for me some 25 years ago. Mortgage rates were quite high. Ending the mortgage expense allowed for greatly increased investing in taxable accounts. 401ks and IRAs were always paid first even when I had a mortgage.. Now there is something called the alternative minimum tax wh...
by SGM
Tue Apr 08, 2014 4:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Why pay off your house?
Replies: 119
Views: 8407

Re: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT

Billy, I was eating steak until I went back to school when beans started tasting fine.
Victoria, Thanks for the invite. I won't be able to make the talk/debate. If the prof has his way I may be eating beans again. :wink:
by SGM
Sun Apr 06, 2014 8:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 84
Views: 10627

Re: Financial question about a Doctor’s Visit

If you want a choice in who analyzes your blood samples have it drawn at the correct company's laboratory. I believe some labs will pay the physician for a blood draw, install a printer for lab results, or automatically put the results onto an electronic health record for easy retrieval and for com...
by SGM
Sun Apr 06, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3408

Re: Financial question about a Doctor’s Visit

If you want a choice in who analyzes your blood samples have it drawn at the correct company's laboratory. I believe some labs will pay the physician for a blood draw, install a printer for lab results, or automatically put the results onto an electronic health record for easy retrieval and for comp...
by SGM
Sun Apr 06, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3408

Re: 31 yr old w/ $500k @ EdwardJones

Take Taylor's advice. He is a great advocate for the low cost investor. Furthermore, Taylor is one of the kindest, most centered persons I have ever meet. I had the pleasure of meeting him at last year's BH conference in Phillie for the first time. I read his books several years ago. Don't fret abou...
by SGM
Sat Apr 05, 2014 4:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: 31 yr old w/ $500k @ EdwardJones
Replies: 26
Views: 3531

Re: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT

Victoria,
Of course we don't have to be limited to a diet of bullets in retirement. After you have been eating steak along time, beans taste just fine. I just don't want to drink the Kool-Aid though. :wink: See you at the conference.
SGM
by SGM
Fri Apr 04, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 84
Views: 10627

Re: road trip with kids, Northern California

"They built a street up there called Lombard Street that goes straight down, and they're not satisfied with you killing yourself that way—they put grooves and curves and everything in it, and they put flowers there where they've buried the people that have killed themselves. Lombard Street, won...
by SGM
Fri Apr 04, 2014 6:19 am
 
Forum: Personal Consumer Issues
Topic: road trip with kids, Northern California
Replies: 12
Views: 686

Re: Putting $ away for children

I can remember that when I was a kid there were a couple of years when I knew there was not a Santa Clause but I went along with it because it was a good deal and I didn't want to risk changing the situation by telling my parents I knew. You may want to sit down for this one: There is not a Santa C...
by SGM
Fri Apr 04, 2014 5:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Putting $ away for children
Replies: 103
Views: 5352

Re: Putting $ away for children

I may be getting in the quicksand here, but I believe with the children's permission you could put UTMA accounts into a trust. The UTMA would have to go into their name first. I don't know a heck of a lot about trusts, but they can be used to prevent a spendthrift from emptying an account. Also ther...
by SGM
Thu Apr 03, 2014 5:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Putting $ away for children
Replies: 103
Views: 5352

Re: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT

I signed up for my third conference. My brother and his wife signed up again. They learned a lot from last year's conference. See you there. I look forward to seeing you there, along with your brother and his wife! I signed my Dad up as well, and hopefully he can make it. Billy We had a lot of fun ...
by SGM
Thu Apr 03, 2014 5:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 84
Views: 10627

Re: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT

I signed up for my third conference. My brother and his wife signed up again. They learned a lot from last year's conference. See you there. I look forward to seeing you there, along with your brother and his wife! I signed my Dad up as well, and hopefully he can make it. Billy We had a lot of fun ...
by SGM
Thu Apr 03, 2014 3:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 84
Views: 10627

Re: Putting $ away for children

I am going to chime in on the side of parental guidance with large sums of money. It sounds like you have met your legal obligations, but others will scold you anyway. Opening us up to scolding: We have "buried" some of the kids money in an LLC that owns property. I told the kids early on ...
by SGM
Thu Apr 03, 2014 7:17 am
 
Forum: Investing - Help with Personal Investments
Topic: Putting $ away for children
Replies: 103
Views: 5352

Re: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT

I signed up for my third conference. My brother and his wife signed up again. They learned a lot from last year's conference. See you there.
by SGM
Wed Apr 02, 2014 5:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2014 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 84
Views: 10627

Re: Widow's benefits

Widow is currently employed. She still has three years before she is eligible for a widow's benefit. My understanding is that a reduced benefit will be available at age 60. Being employed after 60 puts a new wrinkle in the situation. I will see if I can find any information on that. If continuing to...
by SGM
Wed Apr 02, 2014 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Widow's benefits
Replies: 3
Views: 485

Re: Putting money aside for kids

529s have the advantage of not being taxed if used for qualified educational expenses. You maintain control of the account and if not needed can be used for other relatives. Also if the child receives a scholarship an equivalent amount can be taken out tax free. Certain states allow tax deductions f...
by SGM
Wed Apr 02, 2014 5:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Putting money aside for kids
Replies: 2
Views: 513

Re: Retired: When to move?

Relative moving soon after retirement to a smaller home in a different state. The property taxes savings alone decrease his monthly spending by over $1,000 a month. They are very outgoing and should make new friends quickly.
by SGM
Wed Apr 02, 2014 5:35 am
 
Forum: Personal Consumer Issues
Topic: Retired: When to move?
Replies: 43
Views: 3964

Widow's benefits

I have been asked to advise a confused 57 yo widow about widow's benefits, and I wonder if my thinking is correct. FRA for the widow is 66 and 2 months. She can take a decreased widow's benefit at 60 or later up until age 66 and 2 months. She needs to determine her deceased spouse's primary insuranc...
by SGM
Tue Apr 01, 2014 9:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Widow's benefits
Replies: 3
Views: 485

Re: Bogle: Tilt To Corporates For More Yield

I thought I heard Jack and maybe Rick and others on a panel at the BH meeting last October in Phillie mention tilting to corporates. I did add to my intermediate corporate holdings in my retirement accounts following the meeting. I am not worried about a dip like 2008. I don't expect to have to sell...
by SGM
Tue Apr 01, 2014 8:50 pm
 
Forum: Investing - Theory, News & General
Topic: Bogle: Tilt To Corporates For More Yield
Replies: 60
Views: 5599

Re: My husband is receiving $2.31M for selling his company.

Hopefully you are not receiving 2.31 MM in stock of a new company with limits on what can be sold. I saw a family burned by this when their billion dollar company was bought out during the dot.com bubble. The value of the stock tanked before they were allowed to sell it. The lot where they tore down...
by SGM
Tue Apr 01, 2014 9:16 am
 
Forum: Investing - Help with Personal Investments
Topic: My husband is receiving $2.31M for selling his company. What
Replies: 15
Views: 3411

Re: Excess Roth Contribution problem

Thanks Alan S.

Your option #1 is what I discussed with Vanguard. Adult child will need to do an extension, because of a busy work schedule- two jobs and general exhaustion.
by SGM
Mon Mar 31, 2014 8:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Excess Roth Contribution problem
Replies: 7
Views: 376

Re: Excess Roth Contribution problem

Thanks sscritic. I did talk to a very helpful Vanguard rep. So the plan is to have the adult child call Vanguard and recharacterize the 2013 contribution and then later convert the 2013 back to a Roth. Pay the excise tax on earnings and ask for an extension for tax filing this week. This allows a 20...
by SGM
Mon Mar 31, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Excess Roth Contribution problem
Replies: 7
Views: 376

Re: Excess Roth Contribution problem

Since the market was up 30% last year, I would just pay the 6% excise tax on the overcontribution and not recharacterize. Then for the next year contribute the corresponding lesser amount. Thanks for both responses. Paying the excise tax would avoid some painful filling out of forms, a later conver...
by SGM
Mon Mar 31, 2014 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Excess Roth Contribution problem
Replies: 7
Views: 376

Excess Roth Contribution problem

Adult child made a $5500 Roth contribution in 2013, then unexpectedly made more than the limit by year end. This was not discovered until working on taxes. The $5500 was comingled with a prior Roth which confuses things. How much should be recharacterized?
by SGM
Sun Mar 30, 2014 2:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Excess Roth Contribution problem
Replies: 7
Views: 376

Re: Customer service - Vanguard vs Fidelity

Vanguard CFP advised against a variable annuity when asked. Fidelity salesperson called multiple time trying to get me to buy a variable annuity. That kind of says it all for me about the two companies.
by SGM
Sun Mar 30, 2014 5:51 am
 
Forum: Investing - Theory, News & General
Topic: Customer service - Vanguard vs Fidelity
Replies: 80
Views: 6538

Re: Conversion Considerations

8606 forms for prior years should be sent separately from your 1040. I was told this by the IRS when I converted for the first time in 2010. My 2010 8606 was filed with my 1040, buy earlier year 8606s were sent by separate cover. I was able to download 8606 forms from irs.gov as I recall.
by SGM
Fri Mar 28, 2014 4:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Conversion Considerations
Replies: 9
Views: 771

Re: Do you have a Tax Advisor?

I am lucky in that I have a guy who reviews my taxes at low cost. He is a CPA and works as a manager of an accounting department for a local company. He has a background in accounting work for professionals in my field. He still does the taxes for the widow of his first employer. My wife thinks he m...
by SGM
Fri Mar 21, 2014 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you have a Tax Advisor?
Replies: 21
Views: 1643

Re: Customer service - Vanguard vs Fidelity

I received misinformation from a retirement specialist at Fidelity. He insisted that an S corp could only have one solo 401k plan. In fact this is not true, as long as one does not exceed the total allowed deposit and report everything correctly. It may mean two 5500 EZs and you have to have your ac...
by SGM
Wed Mar 19, 2014 9:44 pm
 
Forum: Investing - Theory, News & General
Topic: Customer service - Vanguard vs Fidelity
Replies: 80
Views: 6538

Re: "How Much Should You Pay a Financial Advisor?" by Mike P

I walked into a local bank we had been doing business with and an advisor there wanted me to purchase non-traded REITs which would have generated high commissions. Salesmen from Fidelity called a few years ago to try to interest me in equity indexed annuities(Swedroe included them in the chapter tit...
by SGM
Wed Mar 19, 2014 2:27 pm
 
Forum: Investing - Theory, News & General
Topic: "How Much Should You Pay a Financial Advisor?" by Mike Piper
Replies: 64
Views: 4832

Re: Supporting Family Members

You can pay directly for medical care without it affecting the $14,000 limits.
by SGM
Tue Mar 18, 2014 9:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Supporting Family Members
Replies: 30
Views: 1689

Re: Social security - means testing

SS has been well accepted because everyone gets a benefit should they live long enough and as long as they put in the time and had deductions. I don't want to speculate about the future of SS. I will wait to 70 to collect regardless. I had an error message when I clicked on the AARP article.
by SGM
Tue Mar 18, 2014 9:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Social security - means testing
Replies: 6
Views: 1146

Re: How much do you make a year in Dividends?

Too much. Since the raising of income taxes and surcharges on Medicare premiums, I am looking at dividends with a jaundiced eye. The problem becomes more acute as I try to cash out of long held positions in individual stocks with large capital gains. Slowly, I am closing positions on some equities w...
by SGM
Tue Mar 18, 2014 9:17 am
 
Forum: Investing - Theory, News & General
Topic: How much do you make a year in Dividends?
Replies: 72
Views: 5678

Re: I received a Schedule K-1 for a security held in a Solo-

I would be surprised to get a K-1 for my solo 401k. If you have over a certain amount of income from a master limited partnership in a tax advantaged account you can be taxed on some of that income prior to taking it out. This fund does not appear to be a MLP.
by SGM
Tue Mar 18, 2014 9:08 am
 
Forum: Investing - Help with Personal Investments
Topic: I received a Schedule K-1 for a security held in a Solo-401k
Replies: 5
Views: 461

Re: Writing my 1st book: Financial tips please.

The following is some information gleaned from a talk by a local nonfiction author who recently received an advance from her publisher after reading her book proposal for a book that is now 6 months from completion. She was not referring to self publishing. Nonfiction authors often submit a book pro...
by SGM
Mon Mar 17, 2014 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Writing my 1st book: Financial tips please.
Replies: 14
Views: 1343

Re: Dividend stocks for current income in early retirement?

A small portion of dividend paying individual stocks is okay. I wouldn't reach for too high dividend paying stocks, but rather buy good companies that have a history of raising dividends. It would be easier and safer to buy a dividend achievers fund. I wouldn't drift to far from total stock market a...
by SGM
Sun Mar 16, 2014 8:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Dividend stocks for current income in early retirement?
Replies: 38
Views: 3479

Re: Should I be contibuting to a ROTH at all anymore?

I contributed to traditional IRAs and 401ks to the maximum available. Now that I am working part time and converting to Roths before another pension and SS add to taxable income. Also with doubling and tripling of medicare B and D premiums, based on income, I find having more in Roths possibly may l...
by SGM
Sun Mar 16, 2014 11:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I be contibuting to a ROTH at all anymore?
Replies: 14
Views: 951

Re: Washington DC Area Bogleheads

I always learn something and have fun at the DC area BH meeting, but I will watch the UVA Duke championship game at 1pm. It looks like I can make the May meeting and will see some of you at the big October meeting in Philadelphia again.
by SGM
Sun Mar 16, 2014 11:40 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Washington DC Area Bogleheads
Replies: 160
Views: 48841

Re: Is 529 plans that bad? [White Coat Investor article]

I haven't read all the responses, but there are a couple of issues for wealthier families. Doesn't the 529 offer asset protection from lawsuits? It also gets additional money out of an estate. Two grandparents can put in $70K each for an additional $140K every 5 years and it is not part of the estat...
by SGM
Tue Mar 11, 2014 10:07 am
 
Forum: Investing - Theory, News & General
Topic: Is 529 plans that bad? [White Coat Investor article]
Replies: 35
Views: 2170

Re: IRA conversion to roth, should I do it

If you are going to have higher taxes in the future and they will be high in retirement you are better off converting now. I look at my Roth vs. traditional IRA in terms of spending power. $100K in a Roth is equal to having $100K in a traditional IRA and 25K in taxable if you are in the 25% bracket....
by SGM
Mon Mar 10, 2014 10:23 pm
 
Forum: Investing - Theory, News & General
Topic: IRA conversion to roth, should I do it
Replies: 9
Views: 794

Re: Money issues - people take me for granted

The only people who accused me of being cheap or greedy when I was in my 20s are now 40 years later either impoverished due to their profligate ways or in prison. Don't cast pearls before swine.
by SGM
Sun Mar 09, 2014 10:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money issues - people take me for granted
Replies: 74
Views: 4910

Re: Move to California means what $ ?

I don't know if this is still allowed as we left California 25 years ago. You could become an "anchor out" in Richardson bay near Sausalito and Mill Valley and have very low housing costs.
by SGM
Fri Mar 07, 2014 7:13 am
 
Forum: Personal Consumer Issues
Topic: Move to California means what $ ?
Replies: 55
Views: 4330

aRe: Bridging from Elarly Retirement to SS

I was looking to cover a 5 to 7 year period until age 70. I looked at short term SPIAs and they paid so little, I felt I could do considerably better investing in the market and bonds than that. Anyway I would rather take the risk than give an insurance company such a low cost loan. I did take a 7 y...
by SGM
Fri Mar 07, 2014 6:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Bridging from Early Retirement to SS
Replies: 9
Views: 1482

Re: Gift Tax and the 529b

You can contribute 5x14,000 to a 529 for the benefit of one individual. That is $70,000 per individual. A couple could make that $140,000. You can make no additional gifts to that person for 5 years. I don't think you have to fill out any forms as long as you make no additional gifts to that person ...
by SGM
Thu Mar 06, 2014 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gift Tax and the 529b
Replies: 16
Views: 836

Re: Tax Exempt Bonds - Risks Involved

I feel pretty comfortable with Vanguard intermediate term tax exempt. I trust Vanguard is better at determining default risk than most and certainly better than I am. I also feel the default risk is less than a state specific fund given the increased diversity. That said I do have a small amount in ...
by SGM
Thu Mar 06, 2014 12:02 am
 
Forum: Investing - Theory, News & General
Topic: Tax Exempt Bonds - Risks Involved
Replies: 76
Views: 3580

Re: 401k Solo Tax Reporting

I report a salary and 401k employee contribution on a W-2. A W-3 has to be filed with the W-2. I get 1099s from the various entities that supply income to my business but that is mostly for IRS information and checking against my accounting software. My business is set up as an S corp. I use the HR ...
by SGM
Wed Mar 05, 2014 12:04 am
 
Forum: Personal Finance (Not Investing)
Topic: 401k Solo Tax Reporting
Replies: 9
Views: 523

Re: Shutting down a DRIP cheaply

If you are busy and don't want the hassle just have the custodian sell and eat the $40 fee. You just sign a form and mail it in. You could do a direct transfer to a brokerage and the custodian will sell the fractional shares for which you will have a small short term loss or gain. You may have to ta...
by SGM
Tue Mar 04, 2014 6:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Shutting down a DRIP cheaply
Replies: 8
Views: 834
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