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Re: EJ Gadflies

I have a friend that knew a young person who got back from Iraq and was approached by EJ. The young person was handsome and friendly, and EJ said that this person would be ideal to be a personal finance consultant (even though the person had zero financial knowledge). For years I assumed the EJ kid...
by caroljm36
Fri Sep 12, 2014 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: EJ Gadflies [Edward Jones]
Replies: 24
Views: 2221

Re: Don't even know where to start on this AARP article

It looks like I may end up in the zero tax bracket, but it will still be nice to have some Roth money for sudden expenditures like a new car or vacation without suddenly triggering a taxable event.
by caroljm36
Thu Sep 11, 2014 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Don't even know where to start on this AARP article
Replies: 33
Views: 4052

Re: 50 year old looking for retirement advice & help...

I started at 45 but still had a lot of debt. I kept a close eye on SS and as it got closer I had so much 401k withheld that my take home approximated what i would be getting from that alone. then I added to my ira too. I never made more than just average wages and thought I'd work til 70 too, but go...
by caroljm36
Wed Sep 10, 2014 9:10 am
 
Forum: Investing - Help with Personal Investments
Topic: 50 year old looking for retirement advice & help...
Replies: 15
Views: 1979

Re: Medicare problem because of spousal social security?

I'd like to know because I'm filing for spousal in two months.

Guess your best bet is to call SSA. It actually isn't that hard to get through to them, assuming you're available by phone during the day. They've always been very helpful to me.
by caroljm36
Mon Sep 08, 2014 8:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare problem because of spousal social security?
Replies: 6
Views: 924

Re: take the quiz--test your 401(k) knowledge

11/12

If I'd had my old BA 35 calculator for the 401k percentage question, I'd have nailed it.
by caroljm36
Mon Sep 08, 2014 8:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: take the quiz--test your 401(k) knowledge
Replies: 12
Views: 1149

Re: Employer finding out you have a financial cushion?

I suspect that it is somewhat of a "two edged sword," that can benefit an individual----or, and dependent upon the specific circumstances----can harm a person. Ergo, I'd opt for not telling the employer anything. Simply, it is none of the employer's business how much financial "where...
by caroljm36
Sun Sep 07, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 62
Views: 6060

Re: Longevity Annuities?

But how does an annuity purchased from an IRA affect RMDs? Do they count as an RMD or part of one? I thought that was the interesting part in the original post. An IRA is an Individual Retirement Arrangement (see IRS Publication 590), which can take the form of an IR Account or an IR Annuity. For t...
by caroljm36
Fri Sep 05, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Longevity Annuities?
Replies: 54
Views: 2297

Re: Longevity Annuities?

But how does an annuity purchased from an IRA affect RMDs? Do they count as an RMD or part of one?

I thought that was the interesting part in the original post.
by caroljm36
Fri Sep 05, 2014 6:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Longevity Annuities?
Replies: 54
Views: 2297

Re: Longevity Annuities?

Under the final rules, a 401(k) or similar plan, or IRA, may permit plan participants to use up to 25 percent of their account balance or (if less) $125,000 (up from $100,000 in the proposed regulations) to purchase a qualifying longevity annuity without concern about noncompliance with the age 70 ...
by caroljm36
Wed Sep 03, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Longevity Annuities?
Replies: 54
Views: 2297

Re: Take slightly better job if you had to wait 1 year for 4

I wouldn't sweat the lack of a t 401k. I'd just max out my IRA instead, Roth or trad either one. Then there is still after-tax saving too. But if you're higher income than I was, you probably won't have as much tax advantaged space but it's only for a year. I guess if your current employer gives a m...
by caroljm36
Tue Sep 02, 2014 8:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Take slightly better job if you had to wait 1 year for 401k?
Replies: 19
Views: 904

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: 1391

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: 3813

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: 736

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: 736

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: 736

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: 769

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: 10291

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: 1443

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: 1443

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: 1443

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: 1443

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: 31
Views: 2575

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: 3109

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: 3109

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: 3109

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: 7461

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: 4349

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: 5477

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: 5930

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: 5930

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: 5930

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: 2553

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: 22751

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: 5719

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: 16310

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: 48091

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: 16310

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: 16310

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: 14081

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: 5574

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: 2023

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: 9208

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: 2023

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: 9862

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: 5294

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: 5294

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: 5689

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: 1628

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: 1281

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: 1467
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