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Re: Medicare Supplement for SSDI

While I am not sure. I believe that all premiums rates are only guaranteed for open enrollment. However, I know of a person who changed carriers at age 67 and was able to get the published premium. They had to do a medical questionnaire and while they had some health issues, they were not subject to...
by Spirit Rider
Tue Oct 28, 2014 10:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement for SSDI
Replies: 20
Views: 1039

Re: shortest mortgage available

Pentagon Federal Credit Union (PENFED) does 5 year loans (HELOCs) Five or ten year Home Equity Loans (HEL) are probably a better idea. They come with fixed rates, minimal closing costs, and more importantly no draw capability which can be a real danger to some. PenFed also has a 10 year mortgage at...
by Spirit Rider
Tue Oct 28, 2014 7:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: shortest mortgage available
Replies: 14
Views: 1580

Re: Medicare Supplement for SSDI

Give me the name of your state and I will look it up if you don't trust the link. The rates I quoted in my post are directly from the 2015 NH Guide to Medicare Supplement Insurance provided by the NH Insurance Department. The following Notes are at the bottom of the Unitedhealthcare page. Notes: Th...
by Spirit Rider
Tue Oct 28, 2014 7:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement for SSDI
Replies: 20
Views: 1039

Re: Medicare Supplement for SSDI

Yes, but AARP-UHC Medigap policies are not issue-age rated. In all 50 states they use community rating. Simply not true. The issue-age premiums I quoted were specifically Plan F AARP-UNC Medigap policies in my state All policies are required to be issue-age rated in my state. I know that issue-age ...
by Spirit Rider
Tue Oct 28, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement for SSDI
Replies: 20
Views: 1039

Re: Medicare Supplement for SSDI

One thing to keep in mind if your state uses issue age, the premium is higher the later you start Part B and Medigap. Uh, to be crystal clear about this - Medigap policies that are underwritten as "issue-age" rated (as opposed to "attained-age" or "community-age" rated...
by Spirit Rider
Tue Oct 28, 2014 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement for SSDI
Replies: 20
Views: 1039

Re: Medicare Supplement for SSDI

Yes, he does have creditable coverage. But it still appears that medigap policies to supplement traditional Medicare are priced higher for SSDI Medicare recipients than for "natural age" retirees. I think I understand. He is not 65. I am interested because I have credible coverage through...
by Spirit Rider
Mon Oct 27, 2014 10:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement for SSDI
Replies: 20
Views: 1039

Re: Minor Kids as Contingent Beneficiaries for Term Life

You have such a specific set of facts you really should consult with an estate attorney and develop an estate plan. In this situation, I do not think a will is sufficient. Some considerations; How well do you know these cousins? Is your wife close to them? Do you and your wife really want them to ra...
by Spirit Rider
Sun Oct 26, 2014 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Minor Kids as Contingent Beneficiaries for Term Life
Replies: 4
Views: 713

Re: Asset allocation in inherited IRA's

If the OP invested all in bonds in inherited IRA and lightened up in bonds in some other tax-advantaged account by buying more stocks, then that other account would just end up with higher RMDs at a later date. So I find that logic faulty. I think it depends on one's own specific situation. Since t...
by Spirit Rider
Sun Oct 26, 2014 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset allocation in inherited IRA's
Replies: 11
Views: 704

Re: Asset allocation in inherited IRA's

There are different opinions on this. I believe three things are relevant. Tax deferral is a good thing, tax management is a good thing, and withdrawals subject to low volatility is a good thing. You should make these changes by asset allocation across your entire portfolio while minimizing any tax ...
by Spirit Rider
Sun Oct 26, 2014 1:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset allocation in inherited IRA's
Replies: 11
Views: 704

Re: HSA contribution question

This is covered in IRS Publication 969. There is something called the last month rule . If you are eligible (have a qualifying HDHP) on 12/1 of the year, you may make the maximum contribution for the year. However, you must continue coverage during the testing period until 12/31 of the following year.
by Spirit Rider
Thu Oct 23, 2014 8:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA contribution question
Replies: 3
Views: 426

Re: Any downside to a Fidelity i401k?

It should be noted that Vanguard i401k plans do not provide Admiral or ETF shares. I read this, does fidelity offer similar index funds with a lower ER/fees? Fidelity has Investor Class and Advantage Class index funds. Both of them are available in a Solo 401k. For example, total stock market. Fide...
by Spirit Rider
Thu Oct 23, 2014 4:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Any downside to a Fidelity i401k?
Replies: 22
Views: 1717

Re: Will canceling my Discover card lower my FICO score?

Also, credit utilization has a significant impact on your FICO score. So the degree to which this Discover card contributes to your total available credit, would affect your utilization ratio and thus score.

It is seldom beneficial to close credit cards unless you are trying to save on an annual fee.
by Spirit Rider
Wed Oct 22, 2014 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Will canceling my Discover card lower my FICO score?
Replies: 9
Views: 954

Re: How do so many HCEs contribute the max to 401k

I disagree. I think: 1. They fail to build the match in to their overall compensation model, such that it is planned for as part of overall compensation. 2. They incur the administrative overhead of administering vesting schedules, instead of keeping it simple. Companies find false economies with m...
by Spirit Rider
Wed Oct 22, 2014 5:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do so many HCEs contribute the max to 401k
Replies: 30
Views: 2681

Re: How do so many HCEs contribute the max to 401k

Right. Well, generally, their employers have the good sense to make the 401k a Safe Harbor plan. Pretty straightforward. Many companies do not have safe harbor plans for one and/or two primary reasons. 1. They do not wish to do a match as high as the safe harbor requirements. 2. Safe harbor plans r...
by Spirit Rider
Wed Oct 22, 2014 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do so many HCEs contribute the max to 401k
Replies: 30
Views: 2681

Re: Upgrading from Iphone 4s - 5s or 6?

Personally, I consider 4.3" - 4.7" to be optimal screen sizes. So I think the iPhone 6 is a good size. I find the current generation (5.0" - 5.2") from Samsung, Motorola, LG, Sony, etc...to be far too BIG and the 5.5" of the iPhone 6 Plus and others to be just plain ridiculo...
by Spirit Rider
Mon Oct 20, 2014 2:13 pm
 
Forum: Personal Consumer Issues
Topic: Upgrading from Iphone 4s - 5s or 6?
Replies: 29
Views: 2273

Re: Verizon: Upgrade iPhone - No longer "Loyal Customer"

Verizon has never been willing to give away the store to retain customers. When you consistently have < 1% churn/quarter, there simply is no need. It is always very interesting that in the churn surveys about 15% of VZW customers say they are going to leave. Yet, that actual churn number stays about...
by Spirit Rider
Fri Oct 10, 2014 3:50 pm
 
Forum: Personal Consumer Issues
Topic: Verizon: Upgrade iPhone - No longer "Loyal Customer"
Replies: 22
Views: 3732

Re: Anyone ever get a roundtrip violation?

placeholder wrote:Another thing ETF investors don't worry about.

Yes, they just eat the spread on transactions.
by Spirit Rider
Wed Oct 08, 2014 10:44 am
 
Forum: Investing - Theory, News & General
Topic: Anyone ever get a roundtrip violation [at Fidelity]?
Replies: 21
Views: 2056

Re: Pension contribution limits self employed vs employee?

Income excluded by Foreign Income Exclusion is no longer taxable compensation and can not be used for retirement plan contributions (IRAs, SEP IRA, SIMPLE IRA, solo 401k, etc...).

This is a really complex area. You should talk to a professional about your options.
by Spirit Rider
Wed Oct 08, 2014 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Pension contribution limits self employed vs employee?
Replies: 9
Views: 543

Re: 0% Furniture Credit

I don't know the details in this case, but most of these 0% deals provided at retail locations have a unique terms and conditions gotcha. It is 0% for the three years. However, the generally very high (> 20%) interest accrues and only goes away when you make the final payment. You miss a payment and...
by Spirit Rider
Wed Oct 08, 2014 1:16 am
 
Forum: Personal Finance (Not Investing)
Topic: 0% Furniture Credit
Replies: 29
Views: 1316

Re: Spiking HSA Contribution limits

They key thing is to make sure the HSA account is opened effective on the start date of the HDHP. Then when you make the contributions and have the expense does not matter. As was already stated, mostly all hospitals will accept payments plans, especially if it is a large amount. I could easily see ...
by Spirit Rider
Wed Oct 08, 2014 1:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Spiking HSA Contribution limits
Replies: 10
Views: 1045

Re: Pension contribution limits self employed vs employee?

JDDS is correct. What might not be clear is that the maximum solo 401k employer contribution is roughly the same on a given amount of net profit. As the employee of an S-Corp it is 25% of wages and with self employment it is 20% net self-employment income (which includes the contribution itself). If...
by Spirit Rider
Tue Oct 07, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension contribution limits self employed vs employee?
Replies: 9
Views: 543

Re: Backdoor Roth w/ large SEP IRA - What would you do?

1. I don't know what your individual situation is and what your accountant is factoring into this equation. Color me skeptical. 2. Your preference between this and 3. below. 3. Assuming you have an individual 401k or have eligibility top open one, your preference with 2. above Answer: There is only ...
by Spirit Rider
Tue Oct 07, 2014 11:58 am
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth w/ large SEP IRA - What would you do?
Replies: 14
Views: 640

Re: Retiring early, but where dump 401k for yearly withdrawa

Have you calculated your SS benefit at 62. You should really download the AnyPIA app from SS.GOV. That is the only thing that will allow you to properly calculate your benefit given the planned scenario. Since you have a masters degree, you probably will only have 20 years of significant earnings. Y...
by Spirit Rider
Tue Oct 07, 2014 11:34 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring early, but where dump 401k for yearly withdrawal?
Replies: 32
Views: 3225

Re: Is the IRA custodian responsible for initiating RMDs?

I've never heard of a custodian taking responsibility for this. And think, how would they? They would have to make the decision of what securities to sell, and at what time, whether to place market or limit orders, what prices to set limits to, etc etc etc. No custodian I know of does that. If you ...
by Spirit Rider
Tue Oct 07, 2014 11:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Is the IRA custodian responsible for initiating RMDs?
Replies: 26
Views: 1470

Re: Verizon: Upgrade iPhone - No longer "Loyal Customer"

I have been and am a big proponent of Page Plus, but let's compare apples to apples. The OP is looking to upgrade to an iPhone 6. Let's compare 2 years (24 months) with a new iPhone 6 (PPC $39.95 1GB and VZW $60 2GB). Page Plus Cellular - iPhone 6 $649.99 (retail) + $958.80 (24 * $39.95) = $1,608.7...
by Spirit Rider
Tue Oct 07, 2014 10:18 am
 
Forum: Personal Consumer Issues
Topic: Verizon: Upgrade iPhone - No longer "Loyal Customer"
Replies: 22
Views: 3732

Re: EE bonds to establish a retirement floor

You could change $10K iBonds and $10K EE bonds to $20K EE bonds until age 49 and then $20K iBonds until 59. This would allow you to use full EE bond amounts until 69. Then you can use iBonds in any amount after 70 since there are not any early redemption issues after 5 years. Also, you have a much ...
by Spirit Rider
Mon Oct 06, 2014 4:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: EE bonds to establish a retirement floor
Replies: 16
Views: 976

Re: EE bonds to establish a retirement floor

One possible thought I have, is that you might consider a small change in strategy. You could change $10K iBonds and $10K EE bonds to $20K EE bonds until age 49 and then $20K iBonds until 59. This would allow you to use full EE bond amounts until 69. Then you can use iBonds in any amount after 70 si...
by Spirit Rider
Mon Oct 06, 2014 3:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: EE bonds to establish a retirement floor
Replies: 16
Views: 976

Re: EE bonds to establish a retirement floor

I can think of two possible downsides. One referenced by Dutch. This will be taxable income and depending in other taxable income and your SS benefit, could increase the marginal % at which SS benefits are taxed. However, given the amount of tax deferred assets you already have at 39 and your curren...
by Spirit Rider
Mon Oct 06, 2014 3:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: EE bonds to establish a retirement floor
Replies: 16
Views: 976

Re: Bancorp (mysmartsaver) HSA

There is nothing that says you have to keep the money there indefinitely. Once the funds are in the Bancorp HSA they can be transferred to another HSA. You have one indirect rollover from HSA->HSA every 12 months and as many direct HSA->HSA transfers as allowed by provider and justified by any fees ...
by Spirit Rider
Mon Oct 06, 2014 2:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bancorp (mysmartsaver) HSA
Replies: 10
Views: 824

Re: Can I open up a Roth IRA for my 6 year old?

Actually a family I know operates their own business employs their seven year old to do paper shredding every other week. I think he earned about $3,000 last year which they carefully logged and paid at a reasonable rate. Their son contributed most of this to his Roth, and in this case I see nothin...
by Spirit Rider
Mon Oct 06, 2014 2:08 pm
 
Forum: Investing - Theory, News & General
Topic: Can I open up a Roth IRA for my 6 year old?
Replies: 32
Views: 3173

Re: Verizon: Upgrade iPhone - No longer "Loyal Customer"

I have been and am a big proponent of Page Plus, but let's compare apples to apples. The OP is looking to upgrade to an iPhone 6. Let's compare 2 years (24 months) with a new iPhone 6 (PPC $39.95 1GB and VZW $60 2GB). Page Plus Cellular - iPhone 6 $649.99 (retail) + $958.80 (24 * $39.95) = $1,608.79...
by Spirit Rider
Mon Oct 06, 2014 12:15 pm
 
Forum: Personal Consumer Issues
Topic: Verizon: Upgrade iPhone - No longer "Loyal Customer"
Replies: 22
Views: 3732

Re: Why are 529 expense ratios so much higher?

There are generally two types of 529 fees in addition to the underlying fund expense ratios. These are program management fees and state fees and are usually also an AUM percentage. The program management fees are the costs to provide for administration and compliance. The state fees are just that, ...
by Spirit Rider
Sun Oct 05, 2014 12:38 am
 
Forum: Investing - Theory, News & General
Topic: Why are 529 expense ratios so much higher?
Replies: 2
Views: 566

Re: Worth converting from single member LLC to S-Corp?

Especially since you can deduct medical/dental premiums with an S-Corp. It just ends up being a Self Employed Health Insurance deduction. Since this isn't it, you better have a damn good reason for C-Corp to justify the double taxation of dividends.
by Spirit Rider
Sat Oct 04, 2014 11:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Worth converting from single member LLC to S-Corp?
Replies: 12
Views: 1084

Re: Bogleheads Not in Wikipedia ?

I followed this link to see what Wikipedia had to say about The Motley Fool. Then I looked to see what Wikipedia had to say about The Bogleheads. Wikipedia does not have anything about The Bogleheads. Considering all the obscure subjects covered by Wikipedia, how is is that The Bogleheads got misse...
by Spirit Rider
Fri Oct 03, 2014 5:05 pm
 
Forum: Investing - Theory, News & General
Topic: Motley fool?
Replies: 16
Views: 1896

Re: Should I include this in my net worth?

Man, I so wish I had gone with a government job sometimes. I think that is darn near all the vacation that I have ever taken since I have started working. . I am so jealous. :D +1 I have seen the erosion of what vacation you could carryover in the public sector. 1. Unlimited. 2. Equal to your yearl...
by Spirit Rider
Thu Oct 02, 2014 9:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I include [banked vacation days] in my net worth?
Replies: 40
Views: 2973

Re: Suggested Fidelity Indx funds for Solo 4O1K

Let us assume than your ages are 38. I might recommend a moderate allocation for you. This would be 110-38 = 72% equities. If you would follow livesoft's recommendation for a simple three fund Fidelity index fund portfolio this would be FSTVX, FSGDX, and FSITX in the following proportions. Ignore t...
by Spirit Rider
Thu Oct 02, 2014 9:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Suggested Fidelity Indx funds for Solo 4O1K
Replies: 13
Views: 689

Re: Always use age 62 SS Bend Points ?

Yes, the age 62 bend points are used for calculating the PIA in subsequent years (if the AIME changes) even if the worker is not receiving benefits. Then a COLA adjustment is applied from the age 62 year to the current year. The AIME is actually indexed to the year the person reached 60. The years a...
by Spirit Rider
Wed Oct 01, 2014 11:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Always use age 62 SS Bend Points ?
Replies: 2
Views: 517

Re: Low cost online payroll?

I think Bank of America is no longer free. When I click on the payroll option, it offers me the most basic option for $20 / month, and the one with the state filings for $36 / month. No free option? It is by default $20/month, but is $0 for each month where payroll is made by direct deposit from yo...
by Spirit Rider
Wed Oct 01, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low cost online payroll?
Replies: 11
Views: 875

Re: Just inherited an IRA...how to incorporate into AA?

I have a different take on this. Consider a few concepts that we generally follow. 1. It is generally better to defer taxes during the accumulation phase. 2. You should manage your portfolios to minimize taxes. 3. You should manage volatility for accounts in distribution. For this reason, I subscrib...
by Spirit Rider
Tue Sep 30, 2014 11:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Just inherited an IRA...how to incorporate into AA?
Replies: 3
Views: 365

Re: Solo 401k - W2 Reporting

I thought of one other W2 issue that many S-Corps do not do properly, health insurance premiums. If the policy is in the S-Corp's name the S-Corp pays the premium directly. If the policy is in the employees name the S-Corp may still pay the premium directly or the employee pays the premium and the S...
by Spirit Rider
Tue Sep 30, 2014 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k - W2 Reporting
Replies: 12
Views: 501

Re: Fidelity Freedom Index Funds - Available to retail inves

If you spin your own with FSTVX, FSGDX, FSITX (all advantage class), at the most likely asset allocations you will have 0.085% = 0.09% instead of 0.16%.
by Spirit Rider
Tue Sep 30, 2014 12:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Freedom Index Funds - Available to retail investors
Replies: 6
Views: 1146

Re: Solo 401k - W2 Reporting

ER contributions (match, profit sharing) do not get reported on the w-2. Roth 401(k) contributions are reported as AA in box 12. Pretax 401(k) contributions are reported as D in box 12 . http://www.irs.gov/instructions/iw2w3/ch01.html#d0e3089 + Pretax 401(k) contributions from 12D above are subtrac...
by Spirit Rider
Tue Sep 30, 2014 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k - W2 Reporting
Replies: 12
Views: 501

Re: Maxing your IRA or 401k at the beginning of the year?

Your company 401k contributions have to be by payroll deduction. You couldn't do it by lump sum. You could do the maximum contribution for some number of payrolls until you hit the max. However as many previous responses have noted, that may cost you the company match for the remainder of the year. ...
by Spirit Rider
Tue Sep 30, 2014 3:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Maxing your IRA or 401k at the beginning of the year?
Replies: 14
Views: 1123

Re: Worth converting from single member LLC to S-Corp?

I agree with aude that there is not enough data. Specifically, are the revenues from professional services, manufacturing, sales, etc... Are there capital assets, return on capital, employees, etc... However, even without the details, I feel fairly safe saying that $60K seems very low. Especially, g...
by Spirit Rider
Tue Sep 30, 2014 2:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Worth converting from single member LLC to S-Corp?
Replies: 12
Views: 1084

Re: Low cost online payroll?

It depends on what level of payroll support you want and what that $550 is really buying you. BoA will provide Intuit online basic payroll for free, if you have a BoA business checking and personal checking accounts and run payroll with direct deposit from the business to the personal account. You r...
by Spirit Rider
Tue Sep 30, 2014 2:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Low cost online payroll?
Replies: 11
Views: 875

Re: Working & Collecting SS Benefits

Unfortunately, she is not in the clear. As vested1 stated: Your adjusted gross income + Nontaxable interest + ½ of your Social Security benefits = Your "combined income" So it is $23K-$24K plus any other income she has including tax exempt interest, plus 1/2 of the social security benefit ...
by Spirit Rider
Mon Sep 29, 2014 9:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Working & Collecting SS Benefits
Replies: 6
Views: 659

Re: What kinds of LLC owners can open a Solo 401k?

1. Not enough information. More likely than not, this is passive income and not eligible for a Solo 401k. Only a review of the IRS rules on passive income and the details of your involvement in this LLC can determine this.

2. No problem.
by Spirit Rider
Mon Sep 29, 2014 6:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: What kinds of LLC owners can open a Solo 401k?
Replies: 1
Views: 212

Re: Suggested Fidelity Indx funds for Solo 4O1K

Spirit rider, did you mean 120-age in equities conservatve? Looks like a typo, as you have 100 - age in equities, conservative 110 - age in equities, moderate 100 - age in equities, aggressive Mike Actually the other end, aggressive should have been 120 - age in equities (I made the edit). Conserva...
by Spirit Rider
Mon Sep 29, 2014 6:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Suggested Fidelity Indx funds for Solo 4O1K
Replies: 13
Views: 689

Re: Suggested Fidelity Indx funds for Solo 4O1K

andyandyandy, I missed that you were talking about a Solo 401k. So the Fidelity Freedom Funds are possibly useful for you and your wife. They are relatively new to retail investors (in the last month or two). Go to the Fidelity main page and do the following 1. Select the last tab on the right Inves...
by Spirit Rider
Mon Sep 29, 2014 4:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Suggested Fidelity Indx funds for Solo 4O1K
Replies: 13
Views: 689

Fidelity Freedom Index Funds - Available to retail investors

This came up in another thread, but I haven't seen it widely known. For those so inclined, Fidelity Freedom Index Funds became available to retail investors on or slightly after 08/01/2014. They should be available in brokerage, IRAs, SEP IRA, SIMPLE IRA, and Solo 401k accounts. Fund minimums should...
by Spirit Rider
Mon Sep 29, 2014 3:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Freedom Index Funds - Available to retail investors
Replies: 6
Views: 1146
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