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Re: What do you pay for comprehensive and collision on your

Nothing. I buy insurance only for risks that I can't afford. I can afford to total my car. I suppose that I would buy cheap insurance for a risk that I could afford, but no one sells insurance cheap. Some might call this self-insurance, but insurance is usually a way of spreading risk across a large...
by jjustice
Thu Sep 11, 2014 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: What do you pay for comprehensive and collision on your auto
Replies: 7
Views: 843

Re: need help choosing options at TIAA-CREF

There is a TIAA-CREF "white paper" on the nature and performance of TIAA Traditional that is very helpful for anyone who is trying to learn about this rather unusual annuity account: http://www.tiaa-cref.org/ucm/groups/content/%40ap_ucm_p_tcp_docs/documents/document/tiaa04025683.pdf One in...
by jjustice
Tue Sep 09, 2014 10:36 am
 
Forum: Investing - Help with Personal Investments
Topic: need help choosing options at TIAA-CREF
Replies: 34
Views: 1570

Re: POLL: Age for Collecting Social Security Benefits

To a very close approximation, nobody applies later than age 66. Ergo, most Bogleheads are nobodies.

http://fas.org/sgp/crs/misc/R41962.pdf

John
by jjustice
Wed Aug 20, 2014 7:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 103
Views: 7813

Re: POLL: Age for Collecting Social Security Benefits

If you're concerned only about the breakeven point, you should study the second chart at the link below. A breakeven point is only a single moment in time--the time at which things start going the other way rapidly. The second chart at this link is for filing at 62 instead of 66, and it uses a PIA o...
by jjustice
Wed Aug 20, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 103
Views: 7813

Re: TIAA-CREF blog for members?

I assume that you are looking for the Morningstar forum for TIAA-CREF.

http://socialize.morningstar.com/NewSoc ... 00044.aspx

John
by jjustice
Sun Aug 17, 2014 2:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF blog for members?
Replies: 1
Views: 197

Re: Delaying SS while working past age 70

I priced a $200/month $2,400 a year real life annuity at Income Solutions for a 66 year old single woman. BobK BobK, shouldn't you have priced an annuity for a 67-year-old woman? Social Security pays her $32,400 when she is 67. I am in complete agreement with your analysis. This is only a minor cor...
by jjustice
Sat Jul 12, 2014 3:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delaying SS while working past age 70
Replies: 135
Views: 10319

Re: Delaying SS while working past age 70

Thanks BobK, sscritic, and Mike Piper, "terrific key contributors." You each, at various times and in various places, have encouraged us in our plan for the husband to delay to 70 (nearly there) and the lower-earning, 13+ years younger wife to begin at 62.

John
by jjustice
Tue Jul 08, 2014 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delaying SS while working past age 70
Replies: 135
Views: 10319

Re: Another when to start Social Security question.

I was working on the assumption that if she filed in August, she would get no social security for the last five months (Aug. - Dec.) that she was working. I assumed that her salary would be higher than the earnings permitted for any benefit. After she quit, then her reduced--because of starting 3 ye...
by jjustice
Tue Jul 01, 2014 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 989

Re: Another when to start Social Security question.

Can't Rixer's question be answered with the information we have? It all depends on his wife's age and percentages of whatever her PIA may be, right? Suppose her PIA is $1,000. Suppose, given what Rixer said, she turns 63 on January 1. If she files in August rather than 5 months later in January, she...
by jjustice
Tue Jul 01, 2014 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 989

Re: Another when to start Social Security question.

Thanks for the correction, sscritic. Another question: does she actually lose anything by making too much for the earnings test? Isn't this a de facto way of delaying social security?

John
by jjustice
Tue Jul 01, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 989

Re: Another when to start Social Security question.

Can she not file and suspend until January? She could do this now.

I don't think that you should give up 5 months of spousal benefit.

John
by jjustice
Tue Jul 01, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 989

Re: Why buy a car with cash?

No one has mentioned that when you pay cash you don't have to buy comprehensive and collision insurance. I go by the rule of thumb that you don't insure for losses that you can afford. I buy only liability and uninsured moterist insurance, even when my cars are new. I'm so far ahead now that I could...
by jjustice
Tue Jun 24, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Why buy a car with cash?
Replies: 83
Views: 6351

Re: Would you change stock allocation based on market condit

With CAPE so high, I've lowered my stock allocation a little. I want to be ready for any buying opportunities that may come in the next few years. I don't change much, but it seems crazy not to take a little extra off the top when the market is so high. I hate to waste a good bull market!

John
by jjustice
Mon Jun 23, 2014 10:39 am
 
Forum: Investing - Theory, News & General
Topic: Would you change stock allocation based on market conditions
Replies: 37
Views: 1820

Re: How compelling is the TIAA Real Estate fund?

This is an impressive thread with much insight about TIAA Real Estate and TIAA Traditional. However, the entire thread, including its title, is predicated on these being mutual funds. They are not, and the difference is one of their greatest advantages. They are annuity accounts. When the time comes...
by jjustice
Thu Jun 19, 2014 11:44 am
 
Forum: Investing - Help with Personal Investments
Topic: How compelling is the TIAA Real Estate fund?
Replies: 85
Views: 4733

Re: Social Security at 66 vs. 70: A Bird in the Hand?

Peter, assuming that the OP's calculations for 66-70 delay are correct, delay would not match a 2% real return on the early benefits until age 87.25. According to Pfau's calculations for 62-70 delay, delay matches a 2% real return on early benefits at age 82. The value of delay diminishes year by ye...
by jjustice
Tue Jun 03, 2014 7:53 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4331

Re: Social Security at 66 vs. 70: A Bird in the Hand?

Sorry, noyo, I didn't notice that you were not evaluating delay from 62-70. You even said so in your subject line. D'oh! As your calculations compared to Pfau's show, the nearer you get to 70 the longer it takes for further delay to 70 to be beneficial. The lesson here is that delay will always help...
by jjustice
Tue Jun 03, 2014 12:38 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4331

Re: Social Security at 66 vs. 70: A Bird in the Hand?

Wade Pfau has done the calculations. http://wpfau.blogspot.com/2014/04/delaying-social-security-what-investment.html Your calculations don't match his. I would guess that his are correct. One important thing that you and Pfau omit is spousal benefit during the delay. Pfau has no general way to treat...
by jjustice
Mon Jun 02, 2014 4:30 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4331

Re: Should I keep my TIAA account?

I'd go with option 3, and then 25-30 years from now annuitize it. It will be a relatively small, but welcome, monthly check.

John
by jjustice
Tue May 27, 2014 4:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I keep my TIAA account?
Replies: 31
Views: 1822

Re: TIAA rollover

13thstreet, If you decide to rollover to a Vanguard IRA, just do a direct rollover. Call Vanguard's 800 number for IRA rollovers, and they will walk you through the process. I did a rollover of the Roth 403(b) (post-tax) funds in my SRA when I retired, and it was easy and free. It may be somewhat di...
by jjustice
Sun May 25, 2014 4:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA rollover
Replies: 9
Views: 527

Re: What to replace TIAA Real Estate Account with.

555, Are you sure that you have to "shift your current assets?" In all cases that I know of plan administrators do not have the right to "map" TIAA-CREF annuity accounts to other funds upon change of plans. They are ordinarily accounts which you personally control. I would double...
by jjustice
Sat May 24, 2014 8:17 pm
 
Forum: Investing - Theory, News & General
Topic: What to replace TIAA Real Estate Account with.
Replies: 25
Views: 1609

Re: CREF Equity Index Account or CREF Stock Account

Beth, I don't think that it matters much either way. I have always used, and still use, the CREF stock for the following three reasons. 1) I doubt that there will be appreciable difference in the return of a 70/30 Equity/International combination and CREF Stock. 2) It is simpler to hold CREF stock b...
by jjustice
Sat May 24, 2014 12:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: CREF Equity Index Account or CREF Stock Account
Replies: 6
Views: 714

Re: Should I move Cref assets to Vanguard?

Dontok, from what you said, your wife has only annuity accounts with TIAA-CREF. I'm pretty sure that her institution does not have the right to move them to new funds. Her institution can refuse to put further contributions into those accounts, but I'm pretty sure that they cannot make her replace t...
by jjustice
Fri May 23, 2014 5:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I move Cref assets to Vanguard?
Replies: 19
Views: 1133

Re: Break is over (Yep, a SS question)

I doubt that there is much "insurance" value in filing and suspending if a spouse is not old enough to receive a spousal benefit. It's the higher earner who ordinarily would file and suspend, and he or she in most cases would want to leave the widow or widower with the highest possible ben...
by jjustice
Thu May 22, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break is over (Yep, a SS question)
Replies: 37
Views: 2837

Re: Is now a bad time to invest?

It's certainly not a great time to jump in. I didn't have money to invest in stock funds until the summer of 1982. I had friends who had begun in 1967. None of us made our decisions on any basis other than availability of money, but what a difference the lucky and unlucky beginning points made. It m...
by jjustice
Thu May 22, 2014 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is now a bad time to invest?
Replies: 100
Views: 10066

Re: Vanguard Total International Bond Index Fund

Yes, in LifeStrategy Growth for my Roth IRA and in Target funds for my grandchildren's Coverdells.

It's an automatic fund for many Vanguard investors.

John
by jjustice
Fri May 09, 2014 1:22 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Total International Bond Index Fund
Replies: 38
Views: 3686

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

I pay every three months with a credit card to get 1% back from the card's bank. Soon I'll be letting social security take care of it.

John
by jjustice
Fri May 09, 2014 10:59 am
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 585

Re: Jeremy Grantham article [Bull market will "end badly"]

I'll let Ben Inker explain since he has worked carefully to make this strategy's virtue clear in his essay "In Defense of Risk
Aversion," which seems to have been overlooked in all the hubbub about Grantham's companion essay.

Here is the link: https://www.gmo.com/

John
by jjustice
Thu May 08, 2014 10:02 am
 
Forum: Investing - Theory, News & General
Topic: Jeremy Grantham article [Bull market will "end badly"]
Replies: 22
Views: 3957

Re: Jeremy Grantham article [Bull market will "end badly"]

It seemed to me that the much more interesting, and actionable, piece in the recent GMO posting was the one by Ben Inker. For the second time this year, he argues for the benefit of what might be called a counterbalancing strategy. He examines the benefit of not merely rebalancing as the market vaci...
by jjustice
Wed May 07, 2014 11:34 am
 
Forum: Investing - Theory, News & General
Topic: Jeremy Grantham article [Bull market will "end badly"]
Replies: 22
Views: 3957

Re: SS: confused re "file and restrict"

While we wait for sscritic's reply, the answer to your first question is No. Whether there is a reduction depends on the age of the one filing for the spousal benefit. At FRA there is no reduction. I can't understand your second question, but I wonder whether you may have been confused by the fact t...
by jjustice
Wed Apr 30, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS: confused re "file and restrict"
Replies: 7
Views: 786

Re: SS: confused re "file and restrict"

I think that your numbers are off in scenario 1. At 62 your spouse should get .75 X 898 = $674. With you making a "restricted application" for spousal benefits, the total would be $1123/month until you file for your benefit at 70. At that time, your spouse should switch to the higher spous...
by jjustice
Wed Apr 30, 2014 4:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS: confused re "file and restrict"
Replies: 7
Views: 786

Re: SS - DW insists on starting at 62; what are my options?

sscritic, I won't dispute the exact limits of "somewhat reduced," but you are mistaken to say that it would be $250. In the present case the husband would want to become spouse at his FRA. According to what he has said, she will then be only 64 (and some unknown months). So by filing at 62...
by jjustice
Tue Apr 29, 2014 7:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS - DW insists on starting at 62; what are my options?
Replies: 27
Views: 2180

Re: SS - DW insists on starting at 62; what are my options?

I don't see the relevance of the information quoted from social security. Dennygt is the one who wants to switch to his own benefit at 70. He will wait until FRA to make a restricted application for the spousal benefit. Her benefit, and her spousal benefit after he starts his own, will always be som...
by jjustice
Tue Apr 29, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS - DW insists on starting at 62; what are my options?
Replies: 27
Views: 2180

Re: SS - DW insists on starting at 62; what are my options?

It's far more beneficial for the higher earner to delay social security benefits. You have an excellent plan: when you turn 66 (assuming that will be your FRA) make a restricted filing for the spousal benefit and then file for your own at 70. It doesn't matter much whether your wife files at 62 or w...
by jjustice
Tue Apr 29, 2014 1:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS - DW insists on starting at 62; what are my options?
Replies: 27
Views: 2180

Re: A Dictionary and a World Atlas: Recommendations?

The Random House Dictionary, 2nd edition, is the best dictionary I've ever had. It has everything that you could want: colleges, foreign languages, atlas, constitution, etc. I also own the American Heritage dictionary, which does have helpful usage notes. But if you want usage guidance, you should g...
by jjustice
Mon Apr 21, 2014 7:48 pm
 
Forum: Personal Consumer Issues
Topic: A Dictionary and a World Atlas: Recommendations?
Replies: 14
Views: 1130

Re: SS Strategy Metric

What metric did I use? I saw that I had no hope of being in the 1%, but since only 2% delay social security until 70, I jumped at the chance to join that somewhat less elite group. More seriously, my metric is a variant on VictoriaF's: I choose to maximize my inflation-adjusted income for as long as...
by jjustice
Wed Apr 16, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy Metric
Replies: 55
Views: 4308

Re: GMO Forecasts now include Value and Growth

One data point from a bit less than 7 years ago gives no basis for judgment. If I recall correctly, both Bernstein and Tower have said appreciative things about these forecasts. They would seem to be an easy target of study. Anyone know of such studies? Even though one part of one forecast is virtua...
by jjustice
Wed Apr 16, 2014 2:58 pm
 
Forum: Investing - Theory, News & General
Topic: GMO Forecasts now include Value and Growth
Replies: 17
Views: 1465

Re: GMO Forecasts now include Value and Growth

SnowSkier, you meant to say that these were their 7-year forecasts as of March 31.
John
by jjustice
Wed Apr 16, 2014 10:34 am
 
Forum: Investing - Theory, News & General
Topic: GMO Forecasts now include Value and Growth
Replies: 17
Views: 1465

Re: Social Security benefits question

You can go online to My Social Security to see your own earnings history, which is used to determine your benefit.
John
by jjustice
Sun Apr 06, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security benefits question
Replies: 8
Views: 505

Re: Free "If You Can" Kindle

My child is too old, and my grandchildren are too young, to benefit from a book for millennials. But thanks, Bill, for all your good publications that I have enjoyed and profited from.

John
by jjustice
Thu Apr 03, 2014 1:11 pm
 
Forum: Investing - Theory, News & General
Topic: Free "If You Can" Kindle and .pdf eBook
Replies: 54
Views: 11852

Re: Vanguard 529 for new Grandson

The Coverdell ESA is a nice investment for grandchildren, but unfortunately Vanguard stopped opening new Coverdell accounts a couple of years ago. If you want to stick with Vanguard, you'll need to use only the 529.
John
by jjustice
Mon Mar 31, 2014 7:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard 529 for new Grandson
Replies: 4
Views: 575

Re: Social Security Puzzle

Thanks to everyone. This thread has confirmed my confidence in the members of this forum, and also my belief that this was indeed a puzzle. Sorry again about the confusion concerning the reality of the issue and the PIA amounts. Just to be clear, the husband would be delaying his benefit to 70 in bo...
by jjustice
Fri Mar 14, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Puzzle
Replies: 19
Views: 1995

Re: Social Security Puzzle

Sorry. My typo was on the husband's: $20,000. I should have left it at percentages. You could also divide these numbers by 10 and treat them as monthly amounts. Only the percentages are real, and, yes, to Lady Geek, it is a real issue for a good friend. sscritic, I suspected (3) was not possible. Th...
by jjustice
Thu Mar 13, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Puzzle
Replies: 19
Views: 1995

Social Security Puzzle

I offer the following puzzle. Husband and wife are healthy and the same age (within a few days), both approaching 66. They have an adult child who is disabled (Downs). The wife's PIA is 38.6% of the husband's, and the child's SSI is 32.5% of the husband's (father's) PIA. There are "family limit...
by jjustice
Thu Mar 13, 2014 3:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Puzzle
Replies: 19
Views: 1995

Re: Help with filling out form 8889 (HSA Contributions)

Turbo Tax seems to have entered your contributions correctly by taking the code W amount from box 12 in your W2. These pre-tax contributions from you and your employer seem to be all your contributions. They go on line 9 of Form 8889, and zero on line 2. If you, or anyone else, had made post-tax con...
by jjustice
Sun Mar 02, 2014 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with filling out form 8889 (HSA Contributions)
Replies: 4
Views: 501

Re: Fidelity Freedom vs. TIAA Lifecycle

Morningstar gives the TIAA-CREF Lifecycle funds a Bronze medal, while Fidelity's target-date series doesn't place.
See here for an explanation http://news.morningstar.com/articlenet/article.aspx?id=583863
John
by jjustice
Fri Feb 21, 2014 4:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Freedom vs. TIAA Lifecycle
Replies: 4
Views: 304

Re: madsinger monthly report (January 2014)

Thanks, Brad, I look every month. A quibble: I don't see the need to have both 3 fund and LS G. Since LS G went all index, the two are only trivially different. LS G has 56% domestic, while 3 fund has 50%, and foreign is 24/30. LS G has a smidgen of foreign bonds. That said, don't drop LS G! John
by jjustice
Tue Feb 04, 2014 11:30 am
 
Forum: Investing - Theory, News & General
Topic: madsinger monthly report (January 2014)
Replies: 32
Views: 4019

Re: Medicare Supplemental Insurance Cost

Be sure to consider Medicare Advantage plans (aka Part C), which need no supplementation. It works for me, but the quality of available plans in various areas varies. Supplements? We don't need no stinking supplements!

John
by jjustice
Fri Jan 31, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplemental Insurance Cost
Replies: 19
Views: 1243

Re: Trying to decide between TIAA-Cref and Prudential Retire

I agree with those who have expressed a preference for TIAA-CREF. However, I would recommend that you focus on their distinctive annuity accounts. You can get mutual funds elsewhere that are as good as, or better than, those at TIAA-CREF. What you can't get elsewhere are high quality annuity account...
by jjustice
Mon Jan 27, 2014 11:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Trying to decide between TIAA-Cref and Prudential Retirement
Replies: 24
Views: 2175

Re: Signing up for SS before 70

Thank you, Mike Piper, for frequently taking the time to contribute clear, concise, and well reasoned posts. I know that I speak for others as well.

John
by jjustice
Tue Jan 21, 2014 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Signing up for SS before 70
Replies: 60
Views: 3617

Re: Target Funds?

For what it's worth, Morningstar rates Vanguard and T. Rowe Price as the two best target date providers.
http://www.morningstar.com/cover/videocenter.aspx?id=584542

John
by jjustice
Sun Jan 19, 2014 5:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Target Funds?
Replies: 21
Views: 1654
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