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Re: Retirement expenditure concept

LTCI is a very problematic product. Many insurers miscalculated and got out of LTCI business. Those who bought through them were out of luck. Other insurers have raised rates to the point of the insurance becoming unaffordable. One buddy of mine responded by opting out and losing the benefit of his ...
by SGM
Sat Apr 18, 2015 8:55 am
 
Forum: Investing - Theory, News & General
Topic: Retirement expenditure concept
Replies: 45
Views: 3159

Re: Retirement expenditure concept

Regarding the reasons for enthusiasm for delaying SS vs. less enthusiasm for annuities are multiple. I am not sure it has as much to do with covering expenses as with the things like safety, payout, etc. Most annuities are sold not bought. I think those on this site that like annuities mostly like S...
by SGM
Sat Apr 18, 2015 8:23 am
 
Forum: Investing - Theory, News & General
Topic: Retirement expenditure concept
Replies: 45
Views: 3159

Re: How many baskets for your eggs?

Simplicity is good, but do you have to have it for RMDs? Can't you take the full RMD out of one account or provider and calculate it for yourself? If that were not the case then I would combine the IRAs to one provider. I am recently retired and am not anywhere near the simplicity I would like to ha...
by SGM
Thu Apr 16, 2015 8:38 am
 
Forum: Investing - Theory, News & General
Topic: Retirement expenditure concept
Replies: 45
Views: 3159

Re: When to sell actively managed funds in taxable acct

I would sell the ones with the highest ERs first a little each year. I have individual stocks with capital gains that I have been selling slowly over several years, but at least they don't have an ER to pay each year. I am so glad I never had a financial advisor.
by SGM
Wed Apr 15, 2015 4:40 am
 
Forum: Investing - Help with Personal Investments
Topic: When to sell actively managed funds in taxable acct
Replies: 21
Views: 1692

Re: Vehicle for tall people/Spouse wants 50k car help!

There is not enough leg room in the passenger seat of an Odyssey for me. The air bag gets in the way of the knees. Sitting in the driver's seat is fine. I often sit in the back seat if going on a long trip. I drive a Nissan Xterra and have enough head and leg room in the driver's seat. When I am in ...
by SGM
Wed Apr 15, 2015 4:17 am
 
Forum: Personal Consumer Issues
Topic: Vehicle for tall people/Spouse wants 50k car help!
Replies: 74
Views: 5064

Re: At my age & tax bracket, is a Roth smart?

1) I don't have a tIRA, only a 401k. I assumed I don't qualify for an IRA deduction because deduct my 401k, am I missing something? 2) are you saying muni bonds count as income in retirement? Are these not tax free bonds?! Thank you for helping.[/quote] 1) You can establish a tIRA today or tomorrow ...
by SGM
Tue Apr 14, 2015 8:09 am
 
Forum: Investing - Help with Personal Investments
Topic: At my age & tax bracket, is a Roth smart?
Replies: 24
Views: 2417

Re: At my age & tax bracket, is a Roth smart?

You don't list any traditional IRAs so you could put $6500 into a traditional IRA through April 15 for 2014 and then convert it to a Roth without an issues. For a couple it is $13,000 a year. I would not hesitate to do a backdoor Roth if I had no tIRAs. I would call my brokerage, bank or MF provider...
by SGM
Mon Apr 13, 2015 5:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: At my age & tax bracket, is a Roth smart?
Replies: 24
Views: 2417

Re: Can I incorporate stop loss into this investment philoso

I have always thought of stop loss orders as a way of locking in losses. In 35 years investing I have never used a stop loss order. I have also thought that a stop loss order may cause me to sell at a very low price if a stock or the market is in free fall. If I wasn't comfortable with an individual...
by SGM
Mon Apr 13, 2015 3:38 pm
 
Forum: Investing - Theory, News & General
Topic: Can I incorporate stop loss into this investment philosophy?
Replies: 31
Views: 1555

Re: Hypothetical End Game Scenario w/ 5M retirement account

I would ask what is the most likely outcome. What are the worst and best outcomes? What would I tell a colleague if he had a similar question? The answers I imagine would go a long way to resolving any lingering anxiety about retirement prospects especially the answer to what is the most likely outc...
by SGM
Mon Apr 13, 2015 1:36 pm
 
Forum: Investing - Theory, News & General
Topic: Hypothetical End Game Scenario w/ 5M retirement account
Replies: 74
Views: 7199

Re: Poll: do you own individual international stocks?

I own a few ADRs of non US companies. The purchasing costs are the same low fee as buying domestic stock.
by SGM
Mon Apr 13, 2015 4:20 am
 
Forum: Investing - Theory, News & General
Topic: Poll: do you own individual international stocks?
Replies: 25
Views: 1719

Re: Delaying SS for tIRA conversions

I recently retired and am no longer reinvesting dividends in taxable accounts. Delaying SS to make Roth conversions is generally a good idea as long as you pay taxes out of your taxable account. You have up until October 15 of the following year to recharacterize Roth conversions if the investment t...
by SGM
Sun Apr 12, 2015 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Delaying SS for tIRA conversions
Replies: 13
Views: 1449

Re: Mailing tax returns

I send 1040 and 1120S by certified mail. It is a small price for peace of mind. I like to have proof that I sent the forms in. We have met with some unimpressive IRS agents in the past. How about helping an elderly relative audited for a onetime large cash donation and having to prove to the supervi...
by SGM
Fri Apr 10, 2015 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mailing tax returns
Replies: 56
Views: 3549

Re: Max out all retirement accounts?

The Roth IRA will never be taxed. If you keep all medical receipts and pay your medical bills out of taxable accounts while allowing the HSA to grow tax deferred you may be able to use it essentially as another Roth. At the very least it will grow tax deferred. The 403B and 457 are tax deferred tax ...
by SGM
Fri Apr 10, 2015 4:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Max out all retirement accounts?
Replies: 9
Views: 1173

Re: EmergDoc on the James Lange Program

I have read James Lange's and James Dahle's books. I recommend both of them. I always used James Lange's yearly tax card as a quick reference when I had my own business. I acted on Lange's advice regarding Roth conversions over the last 5 years. I had been maximizing 401k and non-deductible IRAs for...
by SGM
Wed Apr 08, 2015 3:33 pm
 
Forum: Investing - Theory, News & General
Topic: EmergDoc on the James Lange Program
Replies: 17
Views: 3322

EmergDoc on the James Lange Program

I just noticed that BH contributor EmergDoc, James Dahle M.D. was interviewed on the James Lange radio show. To read the show or listen to it enter: http://www.paytaxeslater.com/radioshow_ ... icians.php
by SGM
Tue Apr 07, 2015 8:24 pm
 
Forum: Investing - Theory, News & General
Topic: EmergDoc on the James Lange Program
Replies: 17
Views: 3322

Re: Do you think Ric Edelman is correct, never pay down mort

Jonathan Clements has a few thoughts on the subject of paying off mortgages. http://www.marketwatch.com/story/3-dubi ... 2015-01-10
by SGM
Tue Apr 07, 2015 8:44 am
 
Forum: Investing - Theory, News & General
Topic: Do you think Ric Edelman is correct, never pay down mortgage
Replies: 209
Views: 16201

Re: Solo 401K - closed s-corp

I closed both my solo 401ks when the business closed. There isn't really any advantage in protection against law suits for a solo 401k as there is in a 401k if you work for a larger corporation. You might keep the solo 401k if you are considering conversions of your traditional IRAs to Roths. Also a...
by SGM
Tue Apr 07, 2015 8:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401K - closed s-corp
Replies: 1
Views: 253

Re: When to start taking pension payments?

We are delaying one pension to FRA or possibly 70. We don't need the money now although we are both retired. The payout will be higher at age 70 than at 66. As was discussed at a recent local BH meeting the comparison to TIPS returns is appropriate when you are comparing SS delay. I do not think ris...
by SGM
Tue Apr 07, 2015 4:55 am
 
Forum: Personal Finance (Not Investing)
Topic: When to start taking pension payments?
Replies: 11
Views: 1034

Re: Considering Doing My Own Investing...but I'm not sure I

I have always successfully managed my own investments. You have the advantage of purchasing a BH guide and one of Jack's books before starting to do it on your own. I wish these books were available when I first started investing many years ago. Fortunately I always knew that costs matter and to pay...
by SGM
Mon Apr 06, 2015 5:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Considering Doing My Own Investing...but I'm not sure I shou
Replies: 49
Views: 4932

Re: Retiring Before Age 66

You might want to check out http://www.i-orp.com to look at what it suggests about Roth conversions. If you have earned income you could continue to make traditional IRA contributions. You could later make conversions or if your income is low enough you can directly do a Roth. I used the time when I...
by SGM
Sun Apr 05, 2015 9:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring Before Age 66
Replies: 21
Views: 3996

Re: Opinions on Tilting/Slice and Dice

I don't think there is anything wrong with your AA. Small cap value, Reits, high yield corporate and total bond funds are not particularly tax efficient so I would not put them in a taxable account. I would put small cap value and/or small cap index in a Roth and/or small cap tax managed fund in tax...
by SGM
Sun Apr 05, 2015 5:04 am
 
Forum: Investing - Help with Personal Investments
Topic: Opinions on Tilting/Slice and Dice
Replies: 27
Views: 1839

Re: Do you think Ric Edelman is correct, never pay dow mortg

I paid off my mortgage as early as possible. The last mortgage was for 15 years. Interest rates were a lot higher then. I increased my dollar cost averaging into the stock market immediately after the last mortgage payment. As for Edelman, on his radio show he often sets up straw men and ridicules t...
by SGM
Sun Apr 05, 2015 4:43 am
 
Forum: Investing - Theory, News & General
Topic: Do you think Ric Edelman is correct, never pay down mortgage
Replies: 209
Views: 16201

Re: How many of you invest in individual stocks?

I have several large holdings from my dividend reinvesting plan days. I have accumulated large capital gains so I continue to hold a significant amount. However, generally any new money, sales and many dividends have gone into index funds. The cost of holding individual stocks passively is zero but ...
by SGM
Wed Apr 01, 2015 2:00 pm
 
Forum: Investing - Theory, News & General
Topic: How many of you invest in individual stocks?
Replies: 70
Views: 4751

Re: Mother's trust fund for retirement: Crazy allocation, et

I agree that 55% equities is reasonable at age 73. With a management fee of 3.7% and additional fund expenses the fixed income portion can't even tread water if you consider inflation and low interest rates available. Removing a trustee can be difficult or impossible. Years ago an uncle set up a tru...
by SGM
Wed Apr 01, 2015 4:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Mother's trust fund for retirement: Crazy allocation, etc.
Replies: 10
Views: 1150

Re: Minimizing income taxes in retirement

If I thought I would be in a higher tax bracket after taking SS then I would be converting traditional IRAs and 401ks to a Roth each year prior to taking SS at least up to the 25% tax bracket and possibly the 28% bracket. Pay the additional taxes out of a taxable account. At 70 1/2 you will need to ...
by SGM
Tue Mar 31, 2015 3:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Minimizing income taxes in retirement
Replies: 54
Views: 5117

Re: What Book Are You Currently Reading? Part VI

In the Kingdom of Ice The Grand and Terrible Polar Voyage of the USS Jeannette by Hampton Sides. This is an exciting piece of history previously unknown to me. Never give up. Never despair. Nil desperandum.
by SGM
Sat Mar 28, 2015 5:20 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 635
Views: 88885

Re: Solo 401k [Creating an EIN for solo practice]

Are you receiving other benefits from the w-2 income? I created an EIN for a solo practice s-corp that had income. I had a second part time contract for which I received a w-2. I was receiving little benefit from receiving the w-2 as opposed to paying the s-corp directly (no 401k, no liability insur...
by SGM
Thu Mar 26, 2015 4:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k [Creating an EIN for solo practice]
Replies: 7
Views: 530

Re: Does your CPA/Tax Person help with reducing your taxes?

Are my taxes reduced? Definitely my stress is reduced. He encourages me to take all the deductions I am entitled to. Business returns and payroll is a bit more complicated than just a personal return so his help is quite valuable. Getting the business return out of the way helped me to max my profit...
by SGM
Tue Mar 24, 2015 4:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 66
Views: 5698

Re: Tax Software

I have used tax software for 30 years. I import last years data and generally do not do the interview except for a few topics that I want to learn more about. Otherwise it is the form mode I use. However, this year HRBlock and apparently other software per my accountant put in a default no for wheth...
by SGM
Mon Mar 23, 2015 4:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Software
Replies: 23
Views: 1152

Re: Legal for Doctor to Cover Insurance Co-pay?

I sent a collection letter, but never refused to see a patient because they or their relatives wouldn't pay the copay or the deductible. Some insurances would not pay any physician outside of their system. I treated them anyway as no physician who came to the nursing home participated in their plan....
by SGM
Sat Mar 21, 2015 7:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Legal for Doctor to Cover Insurance Co-pay?
Replies: 40
Views: 2951

Tax programs default to no insurance coverage

I just met with my accountant and he alerted me to the default position on the ACA with most or all tax programs. The default position for most if not all programs is that one is not covered by a health plan. The best thing is to go through the interview and manually put in that you are covered if t...
by SGM
Sat Mar 21, 2015 10:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax programs default to no insurance coverage
Replies: 1
Views: 211

Re: DC Bogleheads next meeting is this Sunday the 22nd

Was the above referenced paper presented at the 2014 social security sponsored retirement research conference in DC? I remember a discussion of framing. I am definitely waiting until 70 to start collecting and future consumption ability identifies why I prefer waiting for 132% of what would be comin...
by SGM
Fri Mar 20, 2015 9:27 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: DC Bogleheads next meeting is this Sunday the 22nd
Replies: 4
Views: 629

Re: What Age Did You First Ponder Financial Independence?

Probably in elementary school when I had a paper route and read Ben Franklin's aphorisms.
by SGM
Thu Mar 19, 2015 9:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Age Did You First Ponder Financial Independence?
Replies: 74
Views: 7097

Re: Retiring soon ... help with setting up income stream?

Above comments are excellent. If you will be in a low tax bracket in retirement you could convert some of your traditional accounts to Roths over a period of several years. You will need to pay the taxes out of your taxable account for it to get the greatest benefit from conversions. If I were footl...
by SGM
Thu Mar 19, 2015 9:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring soon ... help with setting up income stream?
Replies: 9
Views: 1682

Re: USAA Flexible Retirement Savings Annuity

That sounds like an excellent deal. Get the 3%. USAA is probably hoping withdrawals will be made because that is an excellent rate. Are there any thoughts about annuitizing? USAA has an excellent safety rating. If the third party is elderly and in good health then there may be a benefit to annuitizi...
by SGM
Thu Mar 19, 2015 1:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: USAA Flexible Retirement Savings Annuity
Replies: 6
Views: 1380

Re: Profit Sharing Plans, IRAs and 401k

If you are not putting in the max for a 401k/psp through your main employment, you could open up a solo 401k if you had other earned income. If so you would probably have to fill out your own W-2 for your side business. This is only worth it if you are significantly below the maximum for your employ...
by SGM
Thu Mar 19, 2015 1:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Profit Sharing Plans, IRAs and 401k
Replies: 12
Views: 675

Re: Five most important things to be a successful investor?

1. Pay yourself first and invest early to take advantage of compounding. 2. Be aware that taxes and investment costs eat into your return 3. Avoid debt and live below your means. Remember the Micawber Principle, based upon his observation: "Annual income twenty pounds, annual expenditure ninete...
by SGM
Wed Mar 18, 2015 8:27 pm
 
Forum: Investing - Theory, News & General
Topic: Five most important things to be a successful investor?
Replies: 38
Views: 4364

Re: Kotlikoff: When Should you Take Social Security?

Most people I talk to take SS as early as possible. However, last year I spoke to two couples who planned to have at least one of them wait until 70 to take SS. All had reached FRA, but neither couple applied for a spousal benefit and did the file and suspend scenario. I informed them both about the...
by SGM
Tue Mar 17, 2015 1:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 242
Views: 24149

Re: Kotlikoff: When Should you Take Social Security?

I am planning on filing and suspending when my spouse reaches FRA so that she can take a spousal benefit. Then I will file for my own at 70 and she will file for her own at 70. I could file and suspend now, but don't foresee a need. Several free on line calculators agree that this strategy is optima...
by SGM
Mon Mar 16, 2015 4:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 242
Views: 24149

Re: USAA Flexible Retirement Savings Annuity

If you start a new USAA Flexible Retirement Annuity today it will pay 1.7% for a new investment of 100k up to 500k. There is a 3.0% bonus. If you invest 100k you will get 3k added immediately. They keep the rate and bonus for the next year for new additions. After year 1 new additions will get a low...
by SGM
Mon Mar 16, 2015 3:46 am
 
Forum: Investing - Help with Personal Investments
Topic: USAA Flexible Retirement Savings Annuity
Replies: 6
Views: 1380

Re: Understanding Your Net Worth

I like the concept of a consuming asset. A rental with a negative cash flow or a seldom used vacation home would fit into this category.
by SGM
Sat Mar 14, 2015 5:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Understanding Your Net Worth
Replies: 25
Views: 3545

Re: 5500 Filings for Solo/Individual 401(k)s; public informa

I was unaware of the difference in the internet accessibility of information for the two different 5500 forms. I did not like having the amounts in my solo 401k available to the public. It is a moot point now that I am retired. You can easily move money from a solo 401k to an IRA while working if yo...
by SGM
Mon Mar 09, 2015 7:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: 5500 Filings for Solo/Individual 401(k)s; public information
Replies: 10
Views: 523

Re: Help with Revamping Husband's retirement?

After getting his match in the 401k then pay off student debt first is what I would do because I hate having any debt, but it may not be the most after tax beneficial move in your bracket. I would run it through a tax program first to see the difference. I like the lower fees of total stock and tota...
by SGM
Fri Mar 06, 2015 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with Revamping Husband's retirement?
Replies: 16
Views: 980

Re: Best strategy bridging into retirement

Go to the above mentioned SS web site and put in your expected w-2 SS income for 1 year. Then you can determine what you would get at any age from 62 to 70. You could also project some numbers if you worked part time say in the pro shop at a golf course. I would feel a whole lot better about getting...
by SGM
Thu Mar 05, 2015 3:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best strategy bridging into retirement
Replies: 37
Views: 3512

Re: WHY YOU OWE YOUR FREEDOM TO JACK BOGLE

Having the money to be able to retire at a reasonable age or to quit an unsatisfactory job is a form of economic freedom. Many factors, like individual effort and savings go into the mix. Economic freedom and capitalism are a necessary part of political freedom, but capitalism alone is not sufficien...
by SGM
Thu Mar 05, 2015 10:24 am
 
Forum: Investing - Theory, News & General
Topic: SIGN PETITION for Jack Bogle's Presidential Medal of Freedon
Replies: 55
Views: 4595

Re: Vanguard becominng more assertive with boards WSJ

Today's WSJ article titled Vanguard and BlackRock Plan to Get More Assertive With Their Investments. This is the article http://www.wsj.com/articles/vanguard-and-blackrock-plan-to-get-more-assertive-with-their-investments-1425445200 Google the title if you are not a subscriber. Jack has recently st...
by SGM
Wed Mar 04, 2015 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard becominng more assertive with boards WSJ
Replies: 9
Views: 1914

Vanguard becominng more assertive with boards WSJ

Today's WSJ article titled Vanguard and BlackRock Plan to Get More Assertive With Their Investments. This is the article http://www.wsj.com/articles/vanguard-and-blackrock-plan-to-get-more-assertive-with-their-investments-1425445200 Google the title if you are not a subscriber. Jack has recently sta...
by SGM
Wed Mar 04, 2015 5:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard becominng more assertive with boards WSJ
Replies: 9
Views: 1914

Re: What if you already have a couple million?

Expense ratios become more important if you have a larger portfolio. A 50:50 stock bond split is too conservative for my liking with a 20 year time horizon. I worry about inflation eating up my buying power so I might be 70:30 or higher in stocks. Consider holding muni bond funds instead of total bo...
by SGM
Tue Mar 03, 2015 5:22 am
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6635

Re: Father in law possible elder scam victim?

This is definitely a scam. The workers should not be allowed on the property or to contact the elderly people. Recovery of the cash is most important, but the amounts maybe too low to justify an attorney. Daughter should handle the finances now. An attorney and a physician may need to get involved w...
by SGM
Mon Mar 02, 2015 3:08 pm
 
Forum: Personal Consumer Issues
Topic: Father in law possible elder scam victim?
Replies: 30
Views: 1815

Re: Does a Roth IRA make sense if you live in a high COL pla

I had an inkling that my tax deferred accounts would become large when my first employer out of grad school matched 10% of my salary in company stock and I could put a non-deductible 2000 a year in a tIRA. I didn't predict I would be able to put much more in a solo 401k and profit sharing plan later...
by SGM
Sun Mar 01, 2015 5:27 am
 
Forum: Investing - Help with Personal Investments
Topic: Does a Roth IRA make sense if you live in a high COL place?
Replies: 85
Views: 3499
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