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Re: how to withdraw from the IRA during retirement

Yes, it's an individual decision, based on one's needs. Remember, too, that you'll have to allow for taxes on withdrawals from your tax-deferred accounts. Many Bogleheads have Vanguard withhold the amount they paid the previous year in one lump sum towards the end of the year (100% of one withdrawa...
by caroljm36
Mon Sep 01, 2014 10:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: how to withdraw from the IRA during retirement
Replies: 13
Views: 1179

Re: Does your employer still offer pensions to new hires?

I heard many state and local governments were phasing out DB plans, but I actually was offered the option of one at my part time on call job with the County. At the tender age of 65, I could have started a pension that vested when I was 70. The other option was defined contribution. I declined both.
by caroljm36
Sun Aug 31, 2014 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does your employer still offer pensions to new hires?
Replies: 54
Views: 3540

Re: should I buy a 5 yr annuity to get me to 70

dhodson wrote:You sure it's a variable annuity?

Is it lifetime payments or just 5 years?


Just 5 years, which is a little more than I need to get to 70 for social security and then RMDs of what I have left in my IRAs.
by caroljm36
Fri Aug 29, 2014 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: should I buy a 5 yr annuity to get me to 70
Replies: 8
Views: 711

Re: should I buy a 5 yr annuity to get me to 70

dhodson wrote:May wish to tell us what kind of annuity you are considering


Oops, sorry, I am looking at an immediate variable annuity to start Oct. 1, indexed to the CPI, paying either 500/mo or 600, thereabouts.
by caroljm36
Fri Aug 29, 2014 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: should I buy a 5 yr annuity to get me to 70
Replies: 8
Views: 711

should I buy a 5 yr annuity to get me to 70

Hi...I will be turning 66 next Feb when I plan to file for spousal SS. That will get me about 700/mo. Another 600 would get me just about what I was taking home before I was laid off. When I get to 70 my SS will be almost 1800. I am working only part time/seasonal and playing music on weekends, 1099...
by caroljm36
Fri Aug 29, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: should I buy a 5 yr annuity to get me to 70
Replies: 8
Views: 711

Re: How to find a lawyer for estate planning?

Ask someone who has done an estate plan with a lawyer who they used and if they recommend him.
by caroljm36
Wed Aug 27, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to find a lawyer for estate planning?
Replies: 16
Views: 754

Re: Telling my friends I paid off my houses was a mistake.

The Wizard wrote:
So for now, the OP's line needs to be (if mentioned at all): all the extra $$ that had been going to pay my mortgage is now going into tax-sheltered retirement accounts that I can't get to until I retire...



Works for me! 8-)
by caroljm36
Mon Aug 25, 2014 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10157

Re: need birth certificate to file for SS?

python99 wrote:
caroljm36 wrote:

You can get Official LA County Birth Certificates from https://www.vitalchek.com/
.



Pretty spendy at $52 total.
by caroljm36
Mon Aug 25, 2014 11:14 am
 
Forum: Personal Finance (Not Investing)
Topic: need birth certificate to file for SS?
Replies: 14
Views: 1424

Re: need birth certificate to file for SS?

When I initially applied online for S/S benefits, the "computer" at the SSA determined, in its wisdom, that I was "in the system." Since I have been receiving benefits for some five-plus years, and never had to submit a birth certificate, I guess I was, indeed, "in the syst...
by caroljm36
Sun Aug 24, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: need birth certificate to file for SS?
Replies: 14
Views: 1424

Re: need birth certificate to file for SS?

denovo wrote:Do you have a passport?



I do but it expired many years ago
by caroljm36
Sun Aug 24, 2014 8:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: need birth certificate to file for SS?
Replies: 14
Views: 1424

need birth certificate to file for SS?

I'm going to be filing for spousal SS in a couple months and wonder will I need an official birth certificate? I keep seeing this mentioned as a requirement, and my mother needed one when she switched from her own old age benefit to my father's SS. I think I have even an unofficial cert now and woul...
by caroljm36
Sun Aug 24, 2014 5:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: need birth certificate to file for SS?
Replies: 14
Views: 1424

Re: Signing up for medicare Oct 1

tc101 wrote: If I sign up for medicare advantage I might not be able to change to plan F later.


Wait, is that true? I signed up for MA planning to switch to Plan F after the first year without any underwriting.
by caroljm36
Sat Aug 23, 2014 5:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signing up for medicare Oct 1
Replies: 19
Views: 1755

Re: someone who claimed at 62 got an 8% increase this year

Ok thanks everyone..yeah the guy is still working so that could explain it. My husband filed at 65 and kept working full time, and kept getting SS raises to so I guess that's why. I espcially appreciate all the feedback when I gave so little information to go on... :P Even more reason to ignore the...
by caroljm36
Sat Aug 23, 2014 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: someone who claimed at 62 got an 8% increase this year
Replies: 26
Views: 3091

Re: someone who claimed at 62 got an 8% increase this year

Ok thanks everyone..yeah the guy is still working so that could explain it. My husband filed at 65 and kept working full time, and kept getting SS raises to so I guess that's why.

I espcially appreciate all the feedback when I gave so little information to go on... :P
by caroljm36
Fri Aug 22, 2014 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: someone who claimed at 62 got an 8% increase this year
Replies: 26
Views: 3091

someone who claimed at 62 got an 8% increase this year

So, I'm at a party with old friends last night, and we started to talk about who was and who was not drawing SS yet..people mostly of the file-at-62 persuasion. *Proudly* I announced at 65 I still hadn't filed, and planned to wait until 70 so I can get the 8% increases. Then I was informed that my f...
by caroljm36
Fri Aug 22, 2014 4:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: someone who claimed at 62 got an 8% increase this year
Replies: 26
Views: 3091

Re: POLL: Age for Collecting Social Security Benefits

In theory I wait until 70, but I may cave at 68 or so. I just want to get the extra $$$ to pay for Medicare and Medigap. Otherwise I could get by on what I would get next year at 67.
by caroljm36
Tue Aug 19, 2014 5:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 103
Views: 7367

Re: Retirement Party [Investment] Discussions

I have related the same plan as Victoria's to several people, and the kneejerk reaction about deferring SS to age 70 is always, how do you know it will still be there? People have really internalized this notion of vanishing SS. But nobody can venture a guess how or when, in the next 5 years, social...
by caroljm36
Mon Aug 18, 2014 9:48 pm
 
Forum: Investing - Theory, News & General
Topic: Retirement Party [Investment] Discussions
Replies: 50
Views: 4158

Re: Savings Percentage [rules of thumb]

I got a late start and with low wages I saved enough so that my take-home pay was close to what I'd be getting from social security.

It's probably not useful advice for the OP but it worked for me! :happy
by caroljm36
Sun Aug 17, 2014 10:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 5366

Re: Vanguard: "Social Security: How to decide when it's time

Why would you "file and suspend your own pension? You just don't file for yours. At FRA you file a RA for spouses benefits. You get your spouse benefit, whatever it is and at 70 you get your own benefit with delayed retirement credits. File and suspend is to allow spousal benefits. and no both...
by caroljm36
Wed Aug 13, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 82
Views: 5879

Re: Vanguard: "Social Security: How to decide when it's time

Can you file and suspend your own old-age benefit at FRA *and* file for spousal benefit?[ /quote] . Is there any possibility the poster is confusing file and suspend with a restricted application? See for example http://moneyover55.about.com/od/socialsecuritybenefits/a/Restricted-Application-For-So...
by caroljm36
Tue Aug 12, 2014 10:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 82
Views: 5879

Re: Vanguard: "Social Security: How to decide when it's time

Can you file and suspend your own old-age benefit at FRA *and* file for spousal benefit?
by caroljm36
Tue Aug 12, 2014 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 82
Views: 5879

Re: Buying land and building house

Back in the 40s when a lot of burbs were first subdivided, lots were big and deep, and it was common to build a first modest home way at the back with a long driveway, leaving plenty of room for a bigger house later. So then the original house becomes the mother-in-law, or first home for the newlywe...
by caroljm36
Fri Aug 08, 2014 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying land and building house
Replies: 22
Views: 2510

Re: Dave Ramsey still defending 12% and still angry at "nerd

I think I heard the latest big rant on the radio, and yeah it was chock full of strawmen and bad faith..bottom line, he thinks his audience can't handle the nuances of different kinds of funds and that dithering over it will cause them to never invest at all. But I think the same audience would pani...
by caroljm36
Thu Jul 31, 2014 9:12 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 22534

Re: Knowledge gaps + anxiety = shame; gender and investing

A significant issue is to convince a woman investor to leave her charismatic high-expense adviser and move to Vanguard. Asking Vanguard to handle it for her will resolve her natural conflict aversion. Victoria This is a great idea. But how unfortunate to be so frightened about one's own money that ...
by caroljm36
Mon Jul 14, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 77
Views: 5688

Re: List of Worst financial advice (what not to do):

How about, borrow student loans to the max because it's cheap money - you can invest it and make 8%!

Glad I gave that one a miss.
by caroljm36
Thu Jul 10, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258

Re: Boglehead Beer

I'm trying to cut down but I love a couple of our local micros, Dancing Trout and Maibock. I hate IPAs and can't see what the appeal is.
by caroljm36
Wed Jul 09, 2014 6:08 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 386
Views: 47852

Re: List of Worst financial advice (what not to do):

Not understanding how taxes really worked and assuming we didn't qualify for a Roth-IRA for many years because our gross was too high (not realizing it's based on MAGI). I didn't open a Roth for years for the opposite reason, because our income was too low. I knew I could max out my 401k and IRA bo...
by caroljm36
Wed Jul 09, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258

Re: List of Worst financial advice (what not to do):

"Buy as much house as you can afford!"

Not sure what the rationale was but I was too timid to do it anyway.
by caroljm36
Tue Jul 08, 2014 11:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258

Re: Easy careers to last me to retirement?

Forest Ranger. You can thank me later. When I was working,our top engineer decided he wanted to become a forest ranger. He quit and did that for a couple years , then came back and was rehired. Don't you have to have forestry degree or similar (whatever that would be)? I always thought there was a ...
by caroljm36
Tue Jul 08, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Easy careers to last me to retirement?
Replies: 92
Views: 14053

Re: I found a new coffee.

bit of a snob..I get Seattle's Best at WalMart. They have different grades based on caffeine. I've recently gone from a Level 4 to a 2 or else I will be awake all night on 2 morning cups..must be getting old. :?
by caroljm36
Thu Jul 03, 2014 10:28 pm
 
Forum: Personal Consumer Issues
Topic: I found a new coffee.
Replies: 72
Views: 5514

Re: Paid off home as LTC Insurance?

Most all LTC insurance plans cover AL and HC. Maybe that explains the growth in the number of AL places! There are some nice ones here. Assuming people are buying those policies..more likely paid off houses are paying for them. I notice they're advertising more now so maybe the housing bust has had...
by caroljm36
Sun Jun 29, 2014 6:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off home as LTC Insurance?
Replies: 38
Views: 2014

Re: Who do you talk with about your financial goals?

The only one who was half way interested was my hairdresser. Others including my husband aren't interested and get all paranoid about it because they don't know much and don't want to learn.

My hairdresser still took her money to a full service broker, so she doesn't listen to me either. :|
by caroljm36
Sat Jun 28, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who do you talk with about your financial goals?
Replies: 158
Views: 9174

Re: Paid off home as LTC Insurance?

I don't see the connection between LTC and assisted living. A regular LTC policy would not cover assisted living would it? Isn't it just for nursing home care? Those are two different things.
by caroljm36
Sat Jun 28, 2014 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off home as LTC Insurance?
Replies: 38
Views: 2014

Re: Retirement age for software engineers

I was laid from part-time software documentation at 65 due to lack of work. A month later the doc manager resigned and now they're advertising the job she had. I learned a lot of her system but she says the president does not like me and it probably isn't worth my time to to apply. At least at 65 I ...
by caroljm36
Tue Jun 24, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement age for software engineers
Replies: 94
Views: 9797

Re: Poll: Dave Ramsey - Harmful or helpful?

I was doing things like Baby Steps and emergency fund long before I heard of him. Debt free since 2002. It was a combination of common sense and the uptight feeling I had about debt in general. His fanatics seem to think it can't be done without him. I think he caters primarily to the ones who got c...
by caroljm36
Mon Jun 23, 2014 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Dave Ramsey - Harmful or helpful?
Replies: 65
Views: 5266

Re: Dave Ramsey - Harmful or helpful?

He gives a lot more good advice than bad. A few days ago, somebody called in and asked him where he got his 12% figure. He said the S&P500 since its inception has averaged 12% return. He then went into a long rant against people who have challenged that figure, saying that their differences wit...
by caroljm36
Sun Jun 22, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Dave Ramsey - Harmful or helpful?
Replies: 65
Views: 5266

Re: Late starters: what age did you start investing?

I don't think I got started until I was 45. My life was a mess up until then, though I usually managed to save enough to get from one gig to the next, one town to the next, so I wasn't a burden on anyone. But when I finally got married and got a regular job, I started maxing out my IRA right away, a...
by caroljm36
Sat Jun 21, 2014 10:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Late starters: what age did you start investing?
Replies: 73
Views: 5647

Re: flipping real estate infomercial work?

It seems the ones who do best are the ones with the skills, can do most the work to finish quality themselves, if they have to, and know how and whom to hire when they need help. If you don't know how to do much yourself then you're at the mercy of outside contractors. Plus yeah lots of cash. Even t...
by caroljm36
Fri Jun 20, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: flipping real estate infomercial work?
Replies: 20
Views: 1609

Re: Home Mortgage question for a 60 year old

I had a friend who got a 30 yr mortgage in his 70s...30 years ago. I don't think age has been a problem for quite awhile now.
by caroljm36
Mon Jun 09, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage question for a 60 year old
Replies: 12
Views: 1275

Re: Should I ask for annual raise?

BradMajors wrote:Are you an employee or self-employed? Employees do not have contracts, and the self-employed do not have a salary.


I wrote contracts for employees at my old company. These were top management people whose longevity in their positions was tied directly to performance.
by caroljm36
Wed Jun 04, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I ask for annual raise?
Replies: 20
Views: 1462

Re: Worst "Large purchase" ever?

Long time ago, but in 1975 I bought a new 280Z for $7200 which is $31k now. I was making only 250 a week. I traded a perfectly good paid off VW for it. :oops:

In a couple months I got someone to take over payments.
by caroljm36
Sat May 24, 2014 6:02 pm
 
Forum: Personal Consumer Issues
Topic: Worst "Large purchase" ever?
Replies: 110
Views: 11743

Re: Long term care and Medicare premiums

It's typical for the elderly to make the circuit of hospital to nursing home back home to hospital etc several or even many times before the end. My best friend has done this 4-5 times already at 75. Doctors visit them sometimes, RN's dispense drugs, and there is physical therapy if there's a chance...
by caroljm36
Thu May 22, 2014 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long term care and Medicare premiums
Replies: 12
Views: 1140

Re: How much SS at 70 if I retire at 66?

It keeps going up if you don't file at 66, even if you never earn another dime. It was quite an eye-operner for me.
Do play with the SSA calculator - it's fun and you can add all sorts of scenarios.
by caroljm36
Fri May 16, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much SS at 70 if I retire at 66?
Replies: 37
Views: 2612

Re: Passbook Accounts - Poll

When I was in third grade, LA city schools, the B of A would come around and get all the kids to start savings accounts, and gave us those little magic passbooks. They seemed kinda sacred, made of special papers, like dollars or a passport. Sadly, the program didn't 'take' with me, and I spent my li...
by caroljm36
Sun May 11, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Passbook Accounts - Poll
Replies: 29
Views: 1545

Re: does anyone use bank Bill Pay for Medicare premiums?

mur44 wrote:OK to use Bill Pay to pay Medicare Part B premium.

Once you start receiving SS benefits, Medicare Part B
premium is deducted from SS benefit amount.


Disclosure: I am a Certified Volunteer Medicare Counselor from NJ


OK thanks. It should be a smooth transition next February.
by caroljm36
Fri May 09, 2014 3:40 pm
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

Re: does anyone use bank Bill Pay for Medicare premiums?

Yes I originally signed up for direct pay from my bank, but changed it when I realized it would be for only a year then they will take out of my spousal SS next year. So I didn't want to risk a double charge that would take months to resolve.
by caroljm36
Fri May 09, 2014 12:54 pm
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

does anyone use bank Bill Pay for Medicare premiums?

Lately I've been using my bank's Bill Pay service for everything, except my Medicare premium. I'm not on SS yet so they don't get it there. Bill Pay is still kinda new to me and it makes me nervous to use it with the feds because I'm not really sure how it works.

Anyone pay it this way?
by caroljm36
Fri May 09, 2014 10:27 am
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 554

Re: SS Question

You can run additional scenarios with 0 entered in for earnings, but only from the present time IIRC. Works for me because I'm so close to FRA. :happy
by caroljm36
Thu May 08, 2014 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Question
Replies: 24
Views: 1541

Re: Associated Press story/retirement

Sounds like a setup to justify *doing something* to address this terrible problem du jour.
by caroljm36
Tue May 06, 2014 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: [AP reporter seeks interviews: difficulty saving]
Replies: 21
Views: 2405

Re: applying for disability without attorney assistance

It's actually better to file on your own first, then get an attorney for the appeal, if there is one. Getting an attorney at the start is just a waste of 25% of that lump sum payment in a slam dunk case. I assume your father has his own doctor to make a report. Don't rely on the SSA doctor - he's on...
by caroljm36
Sun May 04, 2014 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: applying for disability without attorney assistance
Replies: 8
Views: 751
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