Search found 609 matches

by etarini
Tue Dec 20, 2016 7:20 am
Forum: Investing - Theory, News & General
Topic: Expected Future Low Returns
Replies: 49
Views: 6342

Re: Expected Future Low Returns

There are a lot of good posts here, and there are a lot of reasons why we won't see the type of growth that we did after the Great Recession or World War II, but here's the bottom line, from a Bogleheads-friendly Wall Street Journal writer:

"Sorry, You’re Just Going To Have to Save More Money"

http://blogs.wsj.com/moneybeat/2016/07/ ... %e2%80%8b/

By Jason Zweig intelligentinvestor@ wsj.com Jul 13, 2016

Eric
by etarini
Fri Nov 18, 2016 8:33 pm
Forum: Investing - Theory, News & General
Topic: Muni bonds are getting killed. Are you bailing out?
Replies: 88
Views: 21461

Re: Muni bonds are getting killed. Are you bailing out?

Interesting - I have both VWIUX and BMBIX - does anyone know if the Baird Quality Intermediate term Muni is daily as well?

I hadn't planned to sell either of them, in part because of my belief that I'd have to stop dividends for periods of time to be able to do it without penalty, but one never knows when it might be necessary to sell some shares.

If I don't have to worry about either of them, it would give me more flexibility if I did need to sell.

Thanks,
Eric
by etarini
Fri Sep 30, 2016 5:54 pm
Forum: Personal Investments
Topic: Liquidating Inherited Municipal Bonds
Replies: 24
Views: 4304

Re: Liquidating Inherited Municipal Bonds

I was in a similar situation - inherited about 6 or7 individual munis that paid 5% to 5.75%. They were at Edward Jones, so I transferred them to Vanguard. As they're called, I put the money into VWIUX (Vanguard intermediate term muni) and BMBIX (higher quality intermediate term). At those rates they'll disappear long before their maturity, which are in the 2030's..

As much as I like simplicity, I decided not to cut off my nose to spite my face, since VWIUX and BIMBIX are returning a couple of percent, with SEC returns between 1.21 and 1.45. I can wait.

Eric
by etarini
Wed Sep 28, 2016 8:38 pm
Forum: Personal Consumer Issues
Topic: Medicare while travelling?
Replies: 11
Views: 1703

Re: Medicare while travelling?

Here is a discussion of options from the Wall Street Journal:

http://www.wsj.com/articles/will-your-h ... 1459130765

I've never done this, but as we get older, we are beginning to think it might be a good Idea to investigate.

First thing will be to check into the details of our Medigap supplement.

Eric
by etarini
Mon Sep 19, 2016 10:07 am
Forum: Investing - Theory, News & General
Topic: The states we won't buy munis from, update
Replies: 50
Views: 9764

Re: The states we won't buy munis from, update

Larry, could you clarify the risks not worth bearing mentioned above?

Do you mean that it isn't worth taking the risk of holding VG Intermediate Tax Exempt instead of a basket of carefully chosen individual muni bonds?

Or do you mean that it isn't worth taking the risk by holding VG Intermediate Tax Exempt instead of Baird Quality Intermediate Muni fund?

Eric
by etarini
Sat Jul 23, 2016 10:48 am
Forum: Investing - Theory, News & General
Topic: Declining or Rising equity allocation in retirement?
Replies: 110
Views: 14366

Re: Declining or Rising equity allocation in retirement?

[quote="Michread""]Thank you very much for taking the time to post your most helpful information on this site.[/quote]

Larry, I also really appreciate your posts, columns and books.

To be specific, your presentation of Ability, Willingness, and Need is what I consider to be the most important characterization of Asset Allocation analysis, and was critical in shaping my retirement AA.

Eric
by etarini
Wed Jul 13, 2016 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Question-Spousal Benefits
Replies: 17
Views: 3342

Re: Social Security Question-Spousal Benefits

I just went through this with SS this morning and learned that my wife, born in 1951, will be able to receive spousal benefits up to 50 percent of my SS, which I filed for when I turned 66. Then she can file for her benefits at age 70. Hers will be more than double what she is getting as a spouse. Not sure it is a free lunch. We both paid a lot in over 45 years. I'm glad to have those SS checks coming in. I presume you know that your wife cannot make a restricted filing for spousal benefits ONLY until she attains age 66, her full retirement age (FRA). If she claims spousal benefits on your work record prior to her FRA, she will be deemed to be filing for all benefits to which she is eligible, including her own benefits (without delayed ret...
by etarini
Thu Jun 23, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering taxes at RMD time
Replies: 26
Views: 4999

Re: Lowering taxes at RMD time

Timely question. Michael Kitces just posted an article on that topic. You're on the right track with regard to optimizing the withdrawals:

"Tax-Efficient Spending Strategies From Retirement Portfolios"

https://www.kitces.com/blog/tax-efficie ... ding-needs

Eric
by etarini
Wed Jun 22, 2016 6:23 am
Forum: Personal Consumer Issues
Topic: Headphones, consumerism, and escalation of "needs"
Replies: 55
Views: 8478

Re: Headphones, consumerism, and escalation of "needs"

This is also relevant to the "spend now" vs. "spend later" that some savers on this forum have struggled with.

For me, the best way to have everything I need...is to need less.

I don't need the "best" wine or the "best" car.

Let the simplest solution suffice.

Eric
by etarini
Tue Jun 14, 2016 1:56 pm
Forum: Personal Consumer Issues
Topic: Reasonably Priced Red Wines
Replies: 47
Views: 6369

Re: Reasonably Priced Red Wines

I can beat all of those for price, but I'm not embarrassed. My grandfather made all his own wine - only red - so I grew up drinking good wine, but our family never spent much money. I buy the 5-liter cardboard box of Franzia Cabernet Sauvignon for $19.99 - which is the equivalent of 6.66 bottles, or $3 per bottle equivalent. It's not a complicated wine, but it's a good dry wine, without defects. When I buy 4 boxes at a time, I get a 5% discount, which lowers the price to $2.85 per bottle equivalent. The cost of a 5-oz glass then becomes 56 cents - top that! On special occasions, like when we have to bring a bottle of wine to a party, we go to Trader Joe's and get either the Griffone Sangiovese or the Griffone Primitivo (which is kind of a f...
by etarini
Fri May 13, 2016 3:37 pm
Forum: Personal Consumer Issues
Topic: Recall: Subaru 2015, 2016 & 2017 Legacy & Outback steering
Replies: 59
Views: 12825

Re: Recall: Subaru 2015, 2016 & 2107 Legacy & Outback steering

I didn't hear about it yesterday, but a buddy of mine sent me an email about the steering issue this morning. We're 300 miles from home, visiting family, so I called a local Subaru dealer and they were able to confirm by my VIN that my 2016 Outback, which I received on September 9, was not part of the recall. (Our first long drive in was to the Bogleheads convention last October.) So we lucked out. We'd already had a previous recall about a month ago that required a software update to prevent false positive error messages.

Eric

.
by etarini
Thu Apr 28, 2016 8:18 pm
Forum: Investing - Theory, News & General
Topic: When to begin taking Social Security payments?
Replies: 31
Views: 3233

Re: When to begin taking Social Security payments?

If I were you, I'd think long and hard about longevity risk. Retirement might be a long time: "Rich People Are Living Longer. That’s Tilting Social Security in Their Favor." "What is new: It is becoming overwhelmingly evident that the life span gap between rich and poor is widening. A study published this year by Barry Bosworth, Gary Burtless and Kan Zhang found that life expectancy for the bottom 10 percent of male wage earners turning 66 this year has risen 0.7 of a year compared with what was expected for their low-income counterparts 30 years ago. For the top 10 percent of male wage earners, however, life span rose 8.1 years in the same period." http://www.nytimes.com/2016/04/24/upshot/rich-people-are-living-longer-t...
by etarini
Fri Apr 22, 2016 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Need feedback on our strategy for maximizing Social Security
Replies: 15
Views: 2169

Re: Need feedback on our strategy for maximizing Social Security

The quote dodecahedron referenced in the Quinn book is on page 43.

I was writing up essentially the same point, but she beat me to it.

The spouse who is NOT receiving the spousal benefit must either be taking his/her own benefit, or be eligible to file and suspend his/her own benefit, but the latter requires being 66 AND having done a file-and-suspend by April 29, 2016, which doesn't sound possible in your situation.

Eric
by etarini
Mon Apr 18, 2016 6:03 pm
Forum: Personal Consumer Issues
Topic: Door problems with new Subaru
Replies: 41
Views: 8536

Re: Door problems with new Subaru

I'm following this thread with great interest - and trepidation. Being both a Boglehead and having adjusted to a LBYM lifestyle out of necessity, I had never purchased a NEW car in my life, until I retired at 66 and purchased a 2016 Subaru Outback. All my doors shut nicely (sigh of relief). But I hadn't realized the tremendous reliance on the dealer that is necessary with new cars these days (my Outback has already had a recall to update the software and prevent false warning messages (like low oil warnings). I have a wonderful auto shop nearby that I've worked with for 15 years, and whom I trust completely. Unlike dealerships, they will tell me if I SHOULDN'T waste money repairing my used car, and when I should start looking for a new one....
by etarini
Mon Apr 18, 2016 1:41 pm
Forum: Investing - Theory, News & General
Topic: Is Vanguard High-Yield Tax-Exempt really a high yield fund?
Replies: 12
Views: 2951

Re: Is Vanguard High-Yield Tax-Exempt really a high yield fund?

"High Yield" when applied to bonds can only mean one thing: the possibility of higher returns at a certainty of higher risk.

Eric
by etarini
Thu Apr 07, 2016 9:30 am
Forum: Investing - Theory, News & General
Topic: Has the inflation risk premium fallen? Is it now negative?
Replies: 22
Views: 4842

Re: Has the inflation risk premium fallen? Is it now negative?

Looks like folks at the Fed are all over this topic these days:

FRBSF Economic Letter

Differing Views on Long-Term Inflation Expectations April 4 2016

www.frbsf.org/economic-research/publica ... ectations

Eric
by etarini
Mon Mar 21, 2016 10:54 am
Forum: Investing - Theory, News & General
Topic: [Vanguard Core Bond Fund opens to investors]
Replies: 123
Views: 22832

Re: [Vanguard Core Bond Fund opens to investors]

I wonder what Mike Piper (Oblivious Investor) would say if someone asked him about the new Vanguard Core Bond offering...

Oh, wait - someone did, and Mike has some interesting points:

Evaluating Vanguard’s New Core Bond Fund

http://www.obliviousinvestor.com/evalua ... bond-fund/

Eric
by etarini
Fri Mar 18, 2016 9:02 am
Forum: Personal Consumer Issues
Topic: email from Amazon: Critical Update for your kindle e-reader
Replies: 28
Views: 5201

Re: email from Amazon: Critical Update for your kindle e-reader

I got the Kindle for PC email this morning and downloaded the update onto 2 desktops and a laptop.

We don't have actual Kindle devices - but we do have them on our Android phones. How do we update those - just leave them on WiFi and wait for it to happen? Unlike the Kindle for PC version, I wasn't able to find an "about" tab that would show me the version number so I could tell if it had been updated.

Anyone have experience with this Kindle update on Android?

Thanks,
Eric
by etarini
Wed Mar 16, 2016 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: RMD and Charitable Contribution
Replies: 9
Views: 1530

Re: RMD and Charitable Contribution

from the IRS:
Can a qualified charitable distribution satisfy my required minimum distribution from an IRA?

Yes, your qualified charitable distributions can satisfy all or part the amount of your required minimum distribution from your IRA. For example, if your 2014 required minimum distribution was $10,000, and you made a $5,000 qualified charitable distribution for 2014, you would have had to withdraw another $5,000 to satisfy your 2014 required minimum distribution.
https://www.irs.gov/Retirement-Plans/Re ... thdrawals)

Eric
by etarini
Sat Mar 12, 2016 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: How to get a real Chip and Pin card?
Replies: 108
Views: 35891

Re: How to get a real Chip and Pin card?

Andrew Federal Credit Union has a card that has Chip and Pin. 0% foreign transaction fees and no annual fee. It annoyingly defaults to Chip and Sig if the reader allows it. I suspect many of these other cards do the same thing. I have a "real" chip and pin credit card from State Department Federal Credit Union (no annual fee, no markup on foreign purchases), and it does the same thing - even when I thought it would prompt me for my PIN. It does depend upon the capabilities of the point-of-sale device and how it's programmed. Back in 2013, outside London, I was able to use my SDFCU card to get train tickets at an unattended station, but only because it chose not to prompt me. I was SO looking forward to using my PIN. Last year, on...
by etarini
Thu Mar 10, 2016 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Divorced friend getting spousal, can she still do file and suspend?
Replies: 2
Views: 867

Re: Divorced friend getting spousal, can she still do file and suspend?

Thanks, Mike!

Her advisor's suggestion didn't sound right, but I guess I was focusing on the more recent law changes and overlooked the more fundamental rule about the relative amounts of the two PIA's.

In her case, back when she filed for ex-spousal benefits, she found out that her PIA was greater than her ex-husbands', so I guess that's all the information that's needed.

Thanks again for preventing what would have been a very undesirable outcome!

Eric
by etarini
Wed Mar 09, 2016 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Divorced friend getting spousal, can she still do file and suspend?
Replies: 2
Views: 867

Divorced friend getting spousal, can she still do file and suspend?

A divorced friend of ours, at my suggestion, started taking spousal benefits soon after she reached her FRA (66) and is now 67, planning to wait for age 70 before she takes her own benefit. She has had some recent health issues in the past year, with a positive but uncertain prognosis. Her financial advisor (not me) suggested that she file and suspend before the April deadline, in case she wants to go back and start collecting benefits as of the suspension date, instead of waiting until age 70. I believe that a file-and-suspend should work exactly as described above, and my only concern is that if she suspends, it may cut off the spousal benefits she’s currently receiving. I’ve not heard or seen anything in the “new” rules that explicitly e...
by etarini
Tue Mar 08, 2016 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Delayed Federal Tax Refund
Replies: 24
Views: 37600

Re: Delayed Federal Tax Refund

I filed state and federal on Feb 18 using TurboTax, with refunds on both. Received my state refund on Feb 23.

Today, my status changed from the typical "within 21 days" to this dreaded message:

"Your tax return is still being processed.
A refund date will be provided when available."

I retired at the end of 2014, my wife and I each got delayed checks from our old companies in 2015, and our fed withholding swamped what we owed, creating a larger refund than in the past. So maybe I got snagged in a fraud prevention algorithm.

Eric
by etarini
Mon Feb 29, 2016 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Does everyone really need to save $1 million for retirement?
Replies: 225
Views: 40380

Re: Does everyone really need to save $1 million for retirement?

If you look around, you can find people who'll tell you a million isn't nearly enough...

'Retirees Face Up to the 'Million-Dollar Illusion'

http://www.cnbc.com/id/100803102

Eric
by etarini
Sun Feb 21, 2016 11:32 am
Forum: Investing - Theory, News & General
Topic: BMBIX (Baird Quality Intermediate Muni) paying ordinary dividends?
Replies: 7
Views: 1779

Re: BMBIX (Baird Quality Intermediate Muni) paying ordinary dividends?

I've seen this on my Vanguard consolidated statement since I first bought the Baird Intermediate Muni fund in January, 2011. It's always a similar fraction of a percent of total earnings. I guess I always just assumed that if it could have been reported as a transaction with a more favorable tax status, they would have done so.

Eric
by etarini
Thu Feb 11, 2016 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: What is your decline in Net Worth as of today?
Replies: 96
Views: 16105

Re: What is your decline in Net Worth as of today?

My portfolio was at an all-time high as of Feb 8; haven't looked since then. I might look tomorrow morning, since I heard there was a big drop in the Dow. Maybe I'll hit another high.

Of course, none of this is particularly remarkable - I'm around 10% stocks/90% bonds. I took Larry Swedroe's point that adding 10% equity stabilizes and improves return for even a conservative portfolio, and compared to 0% stocks. I have been strongly influenced by his "Ability-Willingness-Need" risk assessment. Don't see a need, and pretty weak on the willingness part as well, which makes the ability part moot, at least for now. My wife and I retired at the end of 2014.

Eric
by etarini
Thu Feb 04, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Uber driving for extra income in retirement.
Replies: 31
Views: 5109

Re: Uber driving for extra income in retirement.

I don't know anyone who's done this, but there was a recent article in AARP announcing a partnership with Uber that you may or may not have already seen: " Life Reimagined, a wholly owned non-profit subsidiary of AARP, today announced a unique collaboration with Uber to provide flexible opportunities for Life Reimagined’s members to earn income as Uber driver-partners. Life Reimagined is a one-of-a-kind online and live experience aimed at guiding millions of Americans through their life transitions by helping them discover new possibilities and connecting them with a community of people pursuing similar passions and goals." "The relationship between Life Reimagined and Uber will offer millions of people the opportunity to lea...
by etarini
Sat Jan 30, 2016 4:54 pm
Forum: US Chapters
Topic: Master Thread for Metro Boston's Chapter
Replies: 505
Views: 218384

Re: Master Thread for Metro Boston's Chapter

I'll be there.

Thanks to Siamond for all the organizational work - and to the presenters for their contributions!

Eric
by etarini
Sun Jan 24, 2016 12:30 pm
Forum: Personal Consumer Issues
Topic: Vanguard Store Items
Replies: 69
Views: 12001

Re: Vanguard Store Items

4nursebee wrote:Nice mug.
Is it half empty or half full?
I don't know the answer to your question, but I have it on good authority from a famous Boglehead that it's exactly twice the size it needs to be.

Eric
by etarini
Fri Jan 22, 2016 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Brick and Mortar Bank in Massachusetts?
Replies: 31
Views: 3336

Re: Brick and Mortar Bank in Massachusetts?

We've had checking and savings accounts with Middlesex Bank since we moved to Framingham in 2003. We've also had a construction loan, home mortgage, and 2 home equity loans with them. They've done medallion signatures on two occasions when I needed them after my dad died. It's always been a pleasure to work with them. Most of our business is at the Nobscot branch, but I've also been to the main branch in Natick when I had questions about the construction loan for the house we were building. I'd recommend them highly.

Eric
by etarini
Mon Jan 11, 2016 8:25 pm
Forum: Personal Investments
Topic: social security file and suspend
Replies: 2
Views: 996

Re: social security file and suspend

Sorry to be the bearer of bad news. You will not be able to do a file and suspend, nor will you be able to file a restricted application to get a spousal benefit when you become 62, or any other age, for that matter. The Kotlikoff book is currently out of date, since the Bipartisan Budget Act of 2015 was passed in the first week of November, 2015. First, the rules were changed so that only persons who have both: 1) reached full retirement age (66), and 2) filed and suspended their benefit prior to April 30, 2016, will be be permitted to file and suspend. Second, only persons who reached the age of 62 prior to the end of 2015 will be permitted to do a restricted application (i.e., taking spousal benefits at their FRA, and then taking their o...
by etarini
Mon Dec 28, 2015 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 78622

Re: Changes to Social Security

My wife and I have the same Social Security plan as yours - I file and suspend, she takes a spousal benefit when she turns 66 next year, and we each wait until we're 70 to collect our worker benefit. I went down to my Social Security office on November 12, two days after I turned 66. As others have noted, the staff person did not appear to have been trained on the details of the new regulations. I told them I wanted to file, but suspend my benefit, in compliance with the Social Security changes that require that I file and suspend prior to the end of April, 2016. She didn't really know what I was talking about, and looked rather annoyed, but she was accommodating. She summarized my explanation and put the following into the "remarks&qu...
by etarini
Sun Dec 13, 2015 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Please confirm: Medicare coverage
Replies: 39
Views: 3797

Re: Please confirm: Medicare coverage

I also agree that it's worth checking into supplemental insurance.

Even though Medicare typically pays 80%, if you have a situation that is extremely costly (not as uncommon as you might wish), remember that 20% of a very large number could still be...a very large number.

After transitioning from employer coverage to Medicare, we chose a BlueCross BlueShield supplemental plan. Since my employer plan had been with BlueCross BlueShield, we were able to stay with all of our doctors.

Eric
by etarini
Wed Dec 09, 2015 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Medicare problems: advice needed
Replies: 18
Views: 2093

Re: Medicare problems: advice needed

Some links to the Medicare site:

When & how to sign up for Part A & Part B
https://www.medicare.gov/sign-up-change ... art-b.html

Part A late enrollment penalty
https://www.medicare.gov/your-medicare- ... nalty.html

Part B late enrollment penalty
https://www.medicare.gov/your-medicare- ... nalty.html

Eric
by etarini
Tue Dec 08, 2015 3:32 pm
Forum: Personal Consumer Issues
Topic: TSA pre-check enrollment, is it changing? [Yes, it has changed.]
Replies: 114
Views: 18184

Re: TSA pre-check enrollment, is it changing? [Yes, it has changed.]

SrGrumpy wrote:Funny. I thought this was all about national security?
Well, there's also this little consideration of moving countless thousands of air passengers through the system efficiently. And if you can get the "safe" people to pay a little extra for a genuine convenience while you're at it, then you're killing three birds with one stone: improving safety by not wasting time on those who are no risk, accelerating the throughput of safe travelers, and offsetting some costs that can be used to focus on potentially nefarious individuals.

:)

Eric
by etarini
Sun Dec 06, 2015 12:45 pm
Forum: Personal Consumer Issues
Topic: Jeans for short thin men.
Replies: 17
Views: 2146

Re: Jeans for short thin men.

Here's a link with some other options:

http://www.shortmenstyle.com/jeans.html

Eric
by etarini
Sun Dec 06, 2015 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Medicare number suffix
Replies: 2
Views: 672

Re: Medicare number suffix

Thanks for the information, Leeraar, it's more than useless trivia in my case. I was a T when I first signed up for Medicare, but when I did my file and suspend after turning 66 three weeks ago, they sent me a new card and I'm now an A. A week after I did the file and suspend at my local office, I called Social Security just to make sure that it had been processed correctly, since there wasn't anything in my SS online account that said "filed and suspended" or anything like that; it just said that my monthly benefit was $0. The fellow I spoke with looked it up and confirmed that that my record was correct for a "file and suspend". I guess the new "A" card is further confirmation that my entitlement has been est...
by etarini
Thu Nov 12, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: The Process of Applying for SS file and suspend
Replies: 12
Views: 2229

Re: The Process of Applying for SS file and suspend

I went to my local SS office this morning and did the file and suspend application. I told the nice young lady that I had just turned 66 on Tuesday, and that I wanted to file and suspend. She said that I didn't have to file and suspend to inform them that I wasn't taking my benefit at this time. I explained that I was doing the file and suspend because the new law passed as part of the budget bill required that it be done it no later than 180 days after the bill was signed, so that my wife could file for spousal benefits in December 2016. I asked her if they were surprised by the new changes, but she didn't seem to know anything about them. In the remarks section of the application, she put that I wanted to file and suspend "due to the...
by etarini
Fri Nov 06, 2015 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 78622

Re: Changes to Social Security

Even though my own situation is now clear, and I think I have a good handle on the new changes, I keep following this thread so that I might learn more. Every time I come back to look at it, there are several more situations that have already been addressed by Mike, as well as others. The incredible amount of work that Mike Piper has put in to help clarify numerous simultaneous individual situations just blows me away. I reminds me of when I went to the State Fair when I was about 10 or 11 years old. I had learned how to play chess, or at least I knew the rules. There was a guy there who was playing 10 games at the same time, going from one board to the next, and then around again, over and over. I couldn't imagine how he could keep everyth...
by etarini
Thu Nov 05, 2015 6:40 am
Forum: Personal Consumer Issues
Topic: Use the chip credit card in the US?
Replies: 20
Views: 2830

Re: Use the chip credit card in the US?

Our Walmart, Trader Joe's and Target now require that chip-capable cards be inserted, rather than swiped.

Eric
by etarini
Tue Nov 03, 2015 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 78622

Re: Changes to Social Security

I do admit that I'm looking forward to taking some time off to go climbing after finishing the project though. Yes, I agree with the previous posts - the volume (and quality) of your responses has been nothing short of phenomenal. You have done SO much for SO many! I thought we'd lost $60,000, but you patiently helped me see that, after all, you only need ONE person to file-and-suspend - not both spouses. That was a "Well, duh!" moment afterward, but I wasn't seeing it until you stepped in. If it's any consolation for all the time you spent on this, think of how much more work Kotlikoff and his crew will have to do to update his tome - and he'll have to dig up some new scary stories - that takes even more time! Thank you, thank y...
by etarini
Tue Nov 03, 2015 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Consolidated 2016 Medicare Part B Increase thread
Replies: 111
Views: 7863

Re: Consolidated 2016 Medicare Part B Increase thread

I've been trying to find final Part B premiums that include IRMAA surcharges. I, too, am not sure that fedmsith has it right. Here's what I found in a Baird article, which seems to have updated premiums, since some of the amounts that fedsmith posted are the same as the estimated ones the Trustees posted a month or two ago. The premium in the Baird article matches the ratios that each IRMAA level reflects, relative to the standard premium (assuming $120), i.e., 1.4x, 2.0x, 2.6x, and 3.2x, depending upon the IRMAA bracket. They're rounded to a whole number, and the calculation appears to have been done before adding the $3, though it says that it is not reflected in the amounts. I can't find any other source to corroborate Baird, though I ke...
by etarini
Tue Nov 03, 2015 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 78622

Re: Changes to Social Security

There's a typographical (at least) error in the section 3) on divorced spouse benefits where he mentions working couples below age 62 claiming; see if you can find it. Are you referring to the following sentence: "Can working couples under age 62 do the same?" (i.e., "start collecting their full spousal benefit at 66.") One thing that comes to mind is that you can't claim anything while still "under age 62". I'd guess he was referring to age 62 to delineate who could still file a restricted application when they reach their FRA. With regard to the divorced spouse issue, it's pretty clear that he's beating the drum under the assumption that we'll soon see lots of "spousal benefit deprivation attacks" ...
by etarini
Sat Oct 31, 2015 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security [Assistance requested]
Replies: 16
Views: 2082

Re: Changes to Social Security [Assistance requested]

Thanks, Mike, I was hoping that would be the answer!

Happy Halloween (even though a lot of people got "trick" instead of the "treat"!

Eric
by etarini
Sat Oct 31, 2015 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security [Assistance requested]
Replies: 16
Views: 2082

Re: Changes to Social Security [Assistance requested]

This should be a quick sanity check: The Wall Street Journal posted an updated article today, largely based on discussions with Michael Kitces, I presume. I think the WSJ has the italicized part wrong - that's the part that confused me previously, before I was saved by dodecahedron, tfb, and Mike Piper. Under the new law, individuals will still have the ability to suspend their benefits. But Social Security will no longer allow relatives to submit a new claim for spousal or dependent child benefits based on the earnings record of a worker who has suspended his or her own benefits. However, that provision won’t go into effect for six months from the date President Obama signs the budget bill. As a result, if you are 66 or older now — or will...
by etarini
Fri Oct 30, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16550

Re: Changes to SS regulations in new funding bill...

ObliviousInvestor wrote:If you're both already age 62+, neither of you will be affected by the new deemed filing rules.

And if you can (and do!) file and suspend within 180 days of enactment of the bill, you will not be subject to the new rules about voluntary suspension.

As a result, you will still be able to file and suspend at FRA, and she will be able to file a restricted application at her FRA, and then you can each start receiving your retirement benefits at age 70. (Just like before.)
Awesome!!!

Thanks SO much to TFB, dodecahedron, and Mike Piper for getting me back on track and clearing this up, and for all that you do for the Bogleheads!

Mike, I can't wait until your new Social Security book is out, so that I can recommend it!

Eric
by etarini
Fri Oct 30, 2015 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16550

Re: Changes to SS regulations in new funding bill...

Wait - what?

I've read so many articles and posts my head is spinning and I think I'm mixing up my deemed and my restricted.

Let's see if I can sort this out:


1. Eric has to be able to file and suspend after age 66, but before deadline - check.

2. Susan has to be able to do restricted filing at age 66 (she'll be 65 in December) - check.

3. Eric has to claim at 70 - check.

4.When Eric claims in Nov 2019, does that force Susan to take her own benefit then, a year before she turns 70?

Or is she still able to jump from the restricted spousal to her own age 70 benefit in December 2020?

A bit confused,
Eric
by etarini
Fri Oct 30, 2015 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Changes to SS regulations in new funding bill...
Replies: 154
Views: 16550

Re: Changes to SS regulations in new funding bill...

If I am reading this and other sources correctly, this change is most likely going to happen. It greatly impacts my wife and me, we were going to wait until 70 and were set to receive $53,000 in spousal benefits, not an insignificant amount of money. My wife will be 66 in July of next year (2016), and I will be 66 in March of the following year (2017). Similar situation here. I'll be 66 in a couple weeks, my wife will be 66 in December, 2016. We were planning to have my wife's spousal benefit help tide us over until we each claim SS at 70. We missed it by about 7 months. At least $60,000 gone forever. We can't just go back to our old jobs. I used to roll my eyes at the scoffers and cynics who said that Social Security wouldn't be there for...
by etarini
Tue Oct 27, 2015 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Consolidated 2016 Medicare Part B Increase thread
Replies: 111
Views: 7863

Re: When Social Security Benefits and Medicare Premiums Collide

Thanks for the update, tadamsmar!

Here's the link to the House discussion draft text:

http://docs.house.gov/billsthisweek/201 ... BUDGET.pdf

I'm also curious about the IRMAA amounts.

Eric
by etarini
Tue Oct 27, 2015 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Consolidated 2016 Medicare Part B Increase thread
Replies: 111
Views: 7863

Re: When Social Security Benefits and Medicare Premiums Collide

Leesbro63 wrote:I wish I could time markets as well as I called this one!
Since it is pending legislation, we don't yet know how well you called this one,
but I wouldn't get too excited yet. For those who want to follow this outside Bogleheads, you might
want to pay attention to the "Details" and "Prognosis" sections in the links below:

https://www.govtrack.us/congress/bills/114/hr3696

https://www.govtrack.us/congress/bills/114/s2148

Eric