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Re: Divorcee about to reach FRA seeks SS information

I've also read that if I don’t pay the Medicare Part B premium out of my own pocket (which I am doing now), but have it withheld from my Social Security check then my retirement benefit at age 70 will be no larger than when I suspended it. In essence, I would have given up my higher retirement bene...
by ThePrune
Sat Apr 19, 2014 11:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Divorcee about to reach FRA seeks SS information
Replies: 14
Views: 1136

Re: Interpreting Shiller's data

1. Date: Is it the 1st day of the month or the last day of the month or simply average S and P closing value for the entire month? I also got interested in this question several years ago. The only way I could exactly reproduce Prof. Shiller's S&P Composite monthly Price Index values was to ave...
by ThePrune
Sat Apr 19, 2014 8:26 pm
 
Forum: Investing - Theory, News & General
Topic: Interpreting Shiller's data
Replies: 4
Views: 419

Re: Looking For Monthly Total Return Data

Dow Jones Industrial Average: prior to Sept 1987 (I have more recent) Russell 2000: prior to July 1995 (I have more recent) NASQAQ 100: anything you can give me ! ! MSCI EAFE: prior to May 2009 (I have more recent) FTSE 100: prior to 2002 (I have more recent) I'm making progress. MSCI EAFE Total Re...
by ThePrune
Wed Apr 16, 2014 4:28 pm
 
Forum: Investing - Theory, News & General
Topic: Looking For Monthly Total Return Data
Replies: 2
Views: 255

Looking For Monthly Total Return Data

I'm looking for sources of monthly Total Return data (either Index value at the end of the month or % return for the month) for the following: Dow Jones Industrial Average: prior to [edited] Sept 1987 (I have more recent) Russell 2000: prior to July 1995 (I have more recent) NASQAQ 100: anything you...
by ThePrune
Tue Apr 15, 2014 4:19 pm
 
Forum: Investing - Theory, News & General
Topic: Looking For Monthly Total Return Data
Replies: 2
Views: 255

Re: Mr. sscritic or other please advise SS Homework for me.

Dana Anspach ( MoneyOver55 here on the Forum) has created a web page with a great listing of free and pay Social Security optimization calculators: Social Security Calculators - Don't Claim Without Trying One First . Among the free calculators she lists, I've used the AARP Social Security Calculator...
by ThePrune
Thu Mar 13, 2014 9:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mr. sscritic or other please advise SS Homework for me.
Replies: 6
Views: 1115

Re: What are your favorite websites and forums?

I regularly read the retirement related articles posted at RetireMentors. Stan Haithcock's articles on annuities are generally spot-on!

I also follow and highly recommend Wade Pfau's Retirement Researcher blog postings.
by ThePrune
Sun Jan 12, 2014 5:27 pm
 
Forum: Personal Consumer Issues
Topic: What are your favorite websites and forums?
Replies: 8
Views: 1982

Re: SS File and Suspend Strategy

This article brings up a couple of points regarding the File and Suspend strategy for maximizing SS benefits for a couple. http://www.investmentnews.com/article/20140103/BLOG05/140109976 Mary Beth Franklin, the author of the article being cited, regularly writes about Social Security and retirement...
by ThePrune
Mon Jan 06, 2014 10:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS File and Suspend Strategy
Replies: 3
Views: 544

Re: Simple IRA question

Please refer back to your company copy of IRS Form 5304 or Form 5305, whichever one you used to set up your SIMPLE IRA. This acts as your "Plan Document" which you MUST follow exactly for handling the SIMPLE IRA contributions for each eligible employee. (1) Is this new employee eligible to...
by ThePrune
Fri Jan 03, 2014 2:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Simple IRA question
Replies: 2
Views: 154

Re: Life after retirement

kumte , what you are describing can be typical for the first year(s) of retirement. Many couples have reported that the early stages of joint retirement (both no longer working) are as stressful as when they had their first child! Although it's not really what you asked for, my advice is to spend s...
by ThePrune
Thu Jan 02, 2014 11:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life after retirement
Replies: 21
Views: 2303

Re: Poll: "Bonds are for safety (True or False)".

Glad your poll was't for bond funds or my answer would have been different :)
by ThePrune
Wed Dec 25, 2013 8:33 pm
 
Forum: Investing - Theory, News & General
Topic: Poll: "Bonds are for safety (True or False)".
Replies: 63
Views: 3877

Re: Roth conversion confirmation - taxes owed

Yes, you've understood correctly. If you haven't yet done so, I sugegst reading through IRS Publication 590 - Individual Retirement Arrangements in order to become more familiar with how IRAs and Roths work. The section on taxation starts on poage 40. If only deductible contributions were made to yo...
by ThePrune
Fri Dec 20, 2013 11:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth conversion confirmation - taxes owed
Replies: 4
Views: 491

Re: Corp Bond vs Annuity?

However, if you are willing to dig a bit you can find terrific issues that may otherwise go unnoticed. One such issue is the Corporate Back Trust Security BellSouth 7% Debenture Due 2095 (KTBA) . This security is a relic of a bygone era that investors can still purchase today and enjoy interest pay...
by ThePrune
Mon Dec 16, 2013 8:20 pm
 
Forum: Investing - Theory, News & General
Topic: Corp Bond vs Annuity?
Replies: 1
Views: 256

Re: Simple IRA Questions

I have read through how the SIMPLE IRA works. I am just looking at any opinions from people such as yourself with experience setting them up, managing them, and communicating the benefit to employees. Thanks. First, you will find managing your SIMPLE IRA much simpler if your S corporation's Board/M...
by ThePrune
Sat Dec 14, 2013 10:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Simple IRA Questions - Any small business owners or admins?
Replies: 5
Views: 441

Re: Metlife Guaranteed Annuity

Your news item is 2.5 years old :?: Darla Mercado is a reporter for InvestmentNews , from which the OP article was taken. InvestmentNews is a good source of information about what the investment industry is up to. For Bogleheads it would typically only have "academic interest." I subscrib...
by ThePrune
Sat Dec 14, 2013 6:03 pm
 
Forum: Investing - Theory, News & General
Topic: Metlife Guaranteed Annuity
Replies: 4
Views: 726

Re: Simple IRA Questions

I did all the leg work helping my church set up a SIMPLE IRA for 5 staff members through Vanguard. Their SIMPLE IRA Employer Kit made it very easy to accomplish.

If you're not familiar with the general features of SIMPLE IRAs, I suggest reading the SIMPLE IRA Wiki article.
by ThePrune
Sat Dec 14, 2013 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Simple IRA Questions - Any small business owners or admins?
Replies: 5
Views: 441

Re: SIMPLE IRA to 401K - Rethinking!!. [Employer]

So we signed up and during the initial setup call they then showed me a slide of annual account fee charged to employees at rate of "0.75%" of account balance. With that high account fee, we are now rethinking if it is worth the cost to offer the 401k instead of simple ira. That 0.75% ann...
by ThePrune
Fri Dec 13, 2013 9:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: SIMPLE IRA to 401K - Rethinking!!. [Employer]
Replies: 8
Views: 418

Re: Do T-IRA Distributions Count Toward IRA Annuity RMDs?

The confusion comes about because people are typically unaware that "IRA" is an abbreviation for Individual Retirement ARRANGEMENT. For example this is the official title for IRS Publication 590 . IRAs come in two flavors: Individual Retirement ACCOUNTS and Individual Retirement ANNUITIES ...
by ThePrune
Thu Dec 12, 2013 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do T-IRA Distributions Count Toward IRA Annuity RMDs?
Replies: 6
Views: 318

Re: What are your policies for changing your IPS?

Here's what I have as my formal IPS Revision Policy: Major revisions to this Investment Policy Statement can only be made using the following procedure: • The proposed change(s) must be in written form. • An IPS Revision Form previously created must be used. • The proposed changes must be described ...
by ThePrune
Wed Dec 11, 2013 10:34 pm
 
Forum: Investing - Theory, News & General
Topic: What are your policies for changing your IPS?
Replies: 22
Views: 1109

Re: HSA setup with separate HDHP plans

Here are the details about FICA / payroll deduction and HSA accounts, from IRS Publication 15, Chapter 5 - Wages and Other Compensation : Health Savings Accounts and medical savings accounts . Your [i.e. Empoyer's] contributions to an employee's Health Savings Account (HSA) or Archer medical savings...
by ThePrune
Wed Dec 11, 2013 5:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA setup with separate HDHP plans
Replies: 8
Views: 329

Re: HSA setup with separate HDHP plans

Her employer has no relationship with an HSA custodian and won't deduct her contributions pre-tax. They directed her to set up her own account and file for the tax refund on a 1040. This makes it cumbersome to contribute her half, so we haven't figured out the best course of action. Thoughts on wha...
by ThePrune
Wed Dec 11, 2013 2:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA setup with separate HDHP plans
Replies: 8
Views: 329

Re: Estimating the True Cost of Retirement

As the Wiki article Replacement rate models of retirement spending points out in its introductory summary: Many popular articles are encountered that recommend replacement rates of 0.75 to 0.85 for retirement planning. Typically the author simply states that these are commonly accepted estimates. Se...
by ThePrune
Wed Dec 11, 2013 10:45 am
 
Forum: Investing - Theory, News & General
Topic: Estimating the True Cost of Retirement
Replies: 39
Views: 3414

Re: TIAA Direct

I got the letter yesterday and called them last night. (It was a very long hold!) They simply asked me to affirm that I was either a legal resident or a U.S. citizen. They also wanted to know if I was employed and where the money came from that I had originally deposited into the account. I had to a...
by ThePrune
Tue Dec 10, 2013 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: TIAA Direct
Replies: 2
Views: 398

Re: Non deductible contribution scenario help

Scroll down to the portability provisions in the following summary of EGTRRA: http://www.irs.gov/Retirement-Plans/Determinations---Summary-of-EGTRRA-Changes-for-Retirement-Plans You will see that an IRA could not accept after tax rollovers from qualified plans before 2002, so you better recheck tha...
by ThePrune
Mon Dec 09, 2013 8:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Non deductible contribution scenario help
Replies: 6
Views: 481

Re: Non deductible contribution scenario help

You certainly have an interesting situation! This first thing I needed to confirm is when you need to make your first Form 8606 filing. According to IRS Publication 17, Chapter 17 on IRAs , A Form 8606 is not used for the year that you make a rollover from a qualified retirement plan to a traditiona...
by ThePrune
Sun Dec 08, 2013 11:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Non deductible contribution scenario help
Replies: 6
Views: 481

Re: No Silver Bullets (Just Old Snake Oil in New Bottles)

I greatly enjoyed both linked articles! Thanks for posting.
by ThePrune
Sun Dec 08, 2013 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: No Silver Bullets (Just Old Snake Oil in New Bottles)
Replies: 5
Views: 1238

Re: Pension Advice – Please

gbstack , assuming that you will delay your Social Security until age 70 (2024), the rest of the details revolve around insuring enough cash flow to meet your living expenses. Your wife will be able to file for spousal benefits starting as early as 2020. (You turn age 66 in 2020 and can then file f...
by ThePrune
Sat Dec 07, 2013 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension Advice – Please
Replies: 13
Views: 1557

Re: Social Security scenario

To explore for the optimum SS claiming plan for both spouses, I recommend using some of the free SS software listed by Boglehead moneyover55 in her article Social Security Calculators - Don't Claim Without Trying One First . I have used one of the Pay programs she mentions (Maximize Your Social Secu...
by ThePrune
Sat Dec 07, 2013 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security scenario
Replies: 23
Views: 1354

Re: Corporate bonds and holding to maturity

If you insist on purchasing corporate bonds, let me recommend the following guidelines: (1) All maturities should be short, under 5 years, and maturities should be laddered. (2) Stick with the higher credit ratings: AAA, AA, or A+ (3) Diversify across industry segments. Tougher than you'd think, sin...
by ThePrune
Sat Dec 07, 2013 3:22 pm
 
Forum: Investing - Theory, News & General
Topic: Corporate bonds and holding to maturity
Replies: 20
Views: 1103

Re: Pension Advice – Please

gbstack , glad to see that you've made your very first posting :sharebeer As someone who teaches retirement planning classes, I'm glad to see that you are developing your retirement income plan well in advance. As author Michael Zwecher so graphically puts it, with retirement you'll only get one wh...
by ThePrune
Sat Dec 07, 2013 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension Advice – Please
Replies: 13
Views: 1557

Re: Expense Ratio Net vs. Gross

Some mutual funds institute temporary reductions in their fees. The Net ER is after those temporary reductions. My impression is that such fee reductions result from competitive pressures in the mutual fund marketplace. it's also important to be aware of the Gross ER. Since the fund can choose to te...
by ThePrune
Thu Dec 05, 2013 10:58 pm
 
Forum: Investing - Theory, News & General
Topic: Expense Ratio Net vs. Gross
Replies: 2
Views: 337

Re: In-and-Out IRA Rollovers Within a Calendar Year?

Neither PenFed nor my 401(k) plan administrator have any objections to the transactions (i.e., the plan documents allow the rollovers into and out of the plans), but in the back of my mind, I seem to remember something about there being some adverse tax issue in moving funds into and out of an IRA ...
by ThePrune
Tue Dec 03, 2013 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: In-and-Out IRA Rollovers Within a Calendar Year?
Replies: 7
Views: 323

Re: Best Book on Taxes

Although it's somewhat old (2003), I greatly benefited from reading Reichenstein and Jennings' Integrating Investments and the Tax Code . I highly recommend you Google "William Reichenstein" (Prof. at Baylor University) and read some of his numerous published articles on taxes and investme...
by ThePrune
Tue Dec 03, 2013 1:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Book on Taxes
Replies: 15
Views: 1290

Re: Middle age children inherit late parent's IRA account

What you are asking about is actually a VERY complicated topic. You have no idea how complicated it can get :shock: So since you have a serious interest in this, please read Ed Slott's updated 2012 edition of The Retirement Savings Time Bomb . To fully understand how to handle your situation, you'll...
by ThePrune
Mon Dec 02, 2013 3:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Middle age children inherit late parent's IRA account
Replies: 16
Views: 1493

Re: HSA max limit?

Thank you everyone for your help. I've been looking through the IRS forms and wanted to make sure I had it straight. As a family, you can contribute a max of $6250 for 2013 if: IRS Revenue Proc. 2012-26 states that for 2013 the family maximum HSA contribution is $6,450, not the dollar value you wro...
by ThePrune
Mon Dec 02, 2013 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA max limit?
Replies: 8
Views: 866

Re: ***457(B) Government Plan to Roth IRA conversion, How?**

Step 1 - check that IRS allows 457(b) to Roth IRS conversion. IRS notice 2009-75 Rollovers from Employer Plans to Roth IRAs confirms that this type of conversion is allowed. But please be aware that your former employer will likely only allow a limited time frame to accomplish this. You might need ...
by ThePrune
Sat Nov 30, 2013 10:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: ***457(B) Government Plan to Roth IRA conversion, How?***
Replies: 3
Views: 384

Re: Variable Deferred Annuities and 1035 exchanges

indexmeasap , See my more detailed comment in the PM I sent you. But since you posted a few questions here also, I'll give my thoughts as well. I also know there are many Bogleheads who are much more knowledgeable about annuity matters and brokerage rules than I am, I am hopeful that they will join...
by ThePrune
Sat Nov 30, 2013 9:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Variable Deferred Annuities and 1035 exchanges
Replies: 14
Views: 776

Re: Tips and deflation

The only principal guarantee given by the US Treasury is that the TIPS will pay at least the $1,000 face value at maturity. So if you purchase the TIPS at auction you are sure to get your $1,000 principal back (assuming that the effective Yield To Maturity was greater than 0% when you made the purch...
by ThePrune
Sat Nov 30, 2013 7:50 pm
 
Forum: Investing - Theory, News & General
Topic: Tips and deflation
Replies: 4
Views: 557

Re: Variable annuities & managed accounts

Your annuity might have "living benefits" with possible income guarantees and/or principal guarantees. This is one reason financial planners put these inside retirement accounts. Check to see if you have those guarantees and if they are worth keeping for some reason. These guarantees migh...
by ThePrune
Sat Nov 30, 2013 7:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable annuities & managed accounts
Replies: 13
Views: 1188

Re: What to do with insurance

+1 to dhodson's advice.
by ThePrune
Sat Nov 30, 2013 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to do with insurance
Replies: 2
Views: 322

Re: Medicare B enrollment confusion

Have them check their annual Social Security tax statement from the last tax year. If they are enrolled in Medicare part B there will be a line showing the amount deducted from their SS benefits to cover the part B premiums. This will settle the issue.
by ThePrune
Sat Nov 30, 2013 7:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare B enrollment confusion
Replies: 2
Views: 279

Re: HSA max limit?

The answers given here have been correct, but it is also important on the Forum to provide references to the IRS documents that substantiate those answers. This encourages the OP to read the IRS materials and learn for themselves how to find answers for their own future questions. The OP should refe...
by ThePrune
Sat Nov 30, 2013 7:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA max limit?
Replies: 8
Views: 866

Re: Variable Deferred Annuities and 1035 exchanges

See my OP - (A Pacific Life Innovations Select annuity was lump sum distributed to purchase an Allianz Life Vision annuity) It was to a new insurance company, Allianz Life Vision with 1.65% M&E, 1.15% income rider, 1.10% subaccount fees (3.9% total fees annually). If I contacted Allianz, would ...
by ThePrune
Sat Nov 30, 2013 6:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Variable Deferred Annuities and 1035 exchanges
Replies: 14
Views: 776

Re: Variable Deferred Annuities and 1035 exchanges

No, she was not consulted! The advisor made my mom drive across town to sign some documents that were never explained to her, the advisor was not even present at the time of signing. Of course the broker-dealer claims everything was disclosed and explained. In my complaint to the state insurance co...
by ThePrune
Sat Nov 30, 2013 5:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Variable Deferred Annuities and 1035 exchanges
Replies: 14
Views: 776

Re: Tax Savings and Retirement

I agree with livesoft about your SS. One strategy to consider is to suspend SS (at age 66 FRA this is possible) and earn delayed retirement credit. Then make up for lost income by withdrawing from your IRA. Make sure to withdraw enough each year to max out the 25 percent tax bracket. This strategy w...
by ThePrune
Wed Nov 27, 2013 9:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax Savings and Retirement
Replies: 8
Views: 1026

Re: Confused about contribution limits - 401(a), 403(b)

I work on the side, part-time, for an employer that does not contribute to Social Security, but instead contributes to a DCP. I asked how this works and was told that part-time employees "are Safe Harbor employees. This is mandatory, based on the employee’s appointment type. The employee and (...
by ThePrune
Wed Nov 27, 2013 2:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Confused about contribution limits - 401(a), 403(b)
Replies: 6
Views: 466

Re: Life insurance ladder or not

What you need to recognize is that the agent gets a much larger sales commission if they can talk you into purchasing the UL policy rather than term life. That doesn't mean that you ignore their recommendation, but it DOES mean that you always remember that they do NOT have a legal requirement to pu...
by ThePrune
Tue Nov 26, 2013 10:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance ladder or not
Replies: 8
Views: 607

Re: Transferring accounts from Edward Jones to Vanguard

As shown in this Edward Jones Schedule of Fees for IRAs, it will currently cost you $95 to close out your IRA account. And of course, "all fees are subject to change without notice."
by ThePrune
Tue Nov 26, 2013 5:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Transferring accounts from Edward Jones to Vanguard
Replies: 9
Views: 1508

Re: Options for existing Variable Universal Life VUL policy?

As part of your exploration I'd suggest you also contact the attorneys at Morgan and Morgan to get more information about a Class Action lawsuit being initiated against Hartford for the Stag Variable Life Last Survivor II policy. They should be able to give you more information about the hidden, hig...
by ThePrune
Tue Nov 26, 2013 5:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Options for existing Variable Universal Life VUL policy?
Replies: 13
Views: 789

Re: HSA question

To replace that plan, I am looking at a HDHP with a premium of $1288 per month. $2100 deductible per person, $4200 per family . The maximum of pocket is also $2100/$4200. Check all the fine print about the per-member deductible for the family plan before deciding that it doesn't qualify as a HDHP. ...
by ThePrune
Tue Nov 26, 2013 12:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA question
Replies: 12
Views: 947

Re: Brokerage Charges

Last week I placed a Market order to buy some bonds on line. Your brokerage is correct. When you place a Market order, you are authorizing the brokerage to purchase the security at the best available price, even if that price rises by the time your order is executed. To purchase at or below a speci...
by ThePrune
Mon Nov 25, 2013 10:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Brokerage Charges
Replies: 5
Views: 476
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