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Re: Confused - ACA (Affordable Care Act) refund seems high

My daughter's experience was similar to that of Steve's girlfriend, but not so extreme. Their income turned out to be a bit less than they had estimated for ACA, and she got a substantial refund from the premium tax credit. My conjecture is that the ACA architects decided that it would be better to ...
by jjustice
Sun Mar 29, 2015 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Confused - ACA (Affordable Care Act) refund seems high
Replies: 6
Views: 551

Re: Rick Ferri's 30 year market forecast 2015

We'll probably have to wait 25 years to know how accurate he has been.

John
by jjustice
Fri Mar 27, 2015 12:57 pm
 
Forum: Investing - Theory, News & General
Topic: Rick Ferri's 30 year market forecast 2015
Replies: 107
Views: 9068

Re: Divorced spouse filing for Social Security

Her best option is probably to wait until her FRA (66?) and then make a restricted filing for spousal benefits on your record. She can then let her own grow until she is 70. This is what my ex-wife did. If she files before FRA, she will likely just start her own benefit--as you said. Perhaps she can...
by jjustice
Tue Mar 24, 2015 11:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Divorced spouse filing for Social Security
Replies: 6
Views: 891

Re: 403b taxes due after death

Another thought is that you may not need to spend all of her assets. If you spent the money market funds, the disability, and the LTD money, no income taxes would be owed. You could, additionally, take out a little more than $10,000 of the 403(b) without exceeding the single person's standard deduct...
by jjustice
Mon Mar 23, 2015 7:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: 403b taxes due after death
Replies: 5
Views: 445

Re: Vendor transition from Vanguard to TIAA-CREF (bond quest

The illiquidity of Traditional is compensated by higher rates. In a white paper, http://www.tiaa-cref.org/ucm/groups/content/%40ap_ucm_p_tcp_docs/documents/document/tiaa04025683.pdf , TIAA reports that Traditional has been returning 134 basis points more than 10-year treasuries and 45 basis points m...
by jjustice
Thu Mar 19, 2015 1:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vendor transition from Vanguard to TIAA-CREF (bond question)
Replies: 4
Views: 453

Re: TIAA Traditional Annuity as sole fixed income component

You seem to be planning to move from T-C to Vanguard at the point at which T-C becomes superior: retirement. T-C's annuities are designed to get the most bang for your retirement bucks. Perhaps you are independently wealthy and have no need of lifetime annuity income?

John
by jjustice
Wed Mar 11, 2015 3:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional Annuity as sole fixed income component
Replies: 36
Views: 1980

Re: TIAA-CREF annuities.

RM's idea of transferring lnto the annuity accounts just before annuitizing will work. However, the annuity accounts in which I have invested have no good parallels in the TIAA-CREF mutual funds, or other mutual funds: CREF Stock, TIAA Real Estate, and TIAA Traditional. As Beth and Wizard said, you ...
by jjustice
Sun Feb 22, 2015 7:58 am
 
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF annuities.
Replies: 30
Views: 1647

Re: TIAA-CREF annuities.

I have annuitized CREF Stock, TIAA Traditional, and TIAA Real Estate. I'm not sure what you want to know. I've been very happy. So far they have all increased their payouts annually. The Traditional is in the Graded Payment form, so it will always increase. The two variable annuities depend on the m...
by jjustice
Sat Feb 21, 2015 9:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF annuities.
Replies: 30
Views: 1647

Re: Social Security for a Younger Spouse, Delay to 70 still

BahamaMan, what matters is the age to which you will live. 95 seems rather optimistic, but perhaps you have a family history and lifestyle that supports that. I wonder what the calculator would recommend if you put in 88, which seems to be its default age for the husband. I suspect that the issue ma...
by jjustice
Sat Feb 21, 2015 7:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security for a Younger Spouse, Delay to 70 still good
Replies: 19
Views: 1726

Re: Social Security for a Younger Spouse, Delay to 70 still

My wife is 13.3 years younger. I delayed until 70, but she will start at 62. It seems likely that I will die before her delayed benefit would be superior to her taking the early benefit. I wonder at what age gap, assuming equal PIAs, is it better for the younger spouse to start at 62. I feel fairly ...
by jjustice
Sat Feb 21, 2015 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security for a Younger Spouse, Delay to 70 still good
Replies: 19
Views: 1726

Re: SS paid a month later - what about Medicare Part B?

Perhaps you'll get a reply from someone who knows the rules. But until then, here is my own experience. I started social security in December, which meant that I got my first automatic deposit in January. That, I know, is according to the regulations. I had paid for Medicare Part B through December,...
by jjustice
Mon Feb 09, 2015 2:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS paid a month later - what about Medicare Part B?
Replies: 10
Views: 951

Re: Creating an aggressive TIAA 403b portfolio

I have friends who have invested for retirement just like your dad: 100% TIAA Traditional. While I don't recommend it, they have been very satisfied and have lost no sleep. I bet your dad is well satisfied also. It's not at all a foolish way to go. I do sympathize with your desire to be more aggress...
by jjustice
Thu Feb 05, 2015 4:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Creating an aggressive TIAA 403b portfolio
Replies: 8
Views: 532

Re: 1099 non-employee compensation question

I would report it on Line 21, other income. It's a one-off compensation--not a business. That it was reported on Line 7 of the 1099-MISC does not mean that it has to go on Schedule C.

My source is Pub 4012, page D-4, note 2.

John
by jjustice
Tue Feb 03, 2015 7:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1099 non-employee compensation question
Replies: 6
Views: 616

Re: TIAA CREF jump in fees

ResearchMed wrote:
Where did you find these details?

RM


In a supplement to the prospectus: https://www.tiaa-cref.org/public/pdf/cref_prospectus.pdf

The account sizes are below $20M, $20M-$400M, and above $400M.

John
by jjustice
Tue Feb 03, 2015 5:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF jump in fees
Replies: 11
Views: 1214

Re: TIAA CREF jump in fees

The new three-class structure is only for the CREF variable annuity accounts. The TIAA accounts and the TIAA-CREF mutual funds are unaffected. Annuitized accounts get the new lower R3 ER, as do accumulating accounts at institutions with large accounts. Middle-sized institutional accounts get the R2 ...
by jjustice
Tue Feb 03, 2015 5:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF jump in fees
Replies: 11
Views: 1214

Re: I just filed a Restrictive App at the SS office

Only about a dozen states tax social security income, but Cody's state, Minnesota, is one that does.

John
by jjustice
Fri Jan 30, 2015 11:15 am
 
Forum: Personal Finance (Not Investing)
Topic: I just filed a Restrictive App at the SS office
Replies: 39
Views: 2528

Re: MediCare and ? What are your out of pocket costs please.

Medicare Part A is free. Everyone without a very large or very small income pays $104.90 per month for Medicare Part B. That goes up a little most years. In addition, I have Medicare Advantage (aka Part C) for which I pay no premium ($0). My out of pocket costs (for co-pays) for 2014 were $100. For ...
by jjustice
Sun Jan 18, 2015 8:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: MediCare and ? What are your out of pocket costs please.
Replies: 24
Views: 2372

Re: First Social Security Check After Turning 70

If you apply online, as I did with no problem, you will be given an application number and invited to check back to learn of your application status online. I found that my application was reported as "no decision" until a month before my first check was due. The pending status worried me ...
by jjustice
Sun Jan 04, 2015 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: First Social Security Check After Turning 70
Replies: 9
Views: 2148

Re: TIAA Cref Funds--their place in my asset allocation?

Morik, Traditional is a guaranteed annuity account--not a mutual fund. Among the differences from mutual funds is the fact that there is not a published expense ratio for Traditional. Some people are bothered by the unique nature of Traditional, but I've found that its uniqueness mostly makes it bet...
by jjustice
Sat Dec 06, 2014 12:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Cref Funds--their place in my asset allocation?
Replies: 32
Views: 1804

Re: TIAA Cref Funds--their place in my asset allocation?

I'm not sure what you are comparing Traditional to. It has done as well as the Barclays Aggregate Bond Index with a much higher Sharpe Ratio. (I can't get the table to line up under the headings, but it's not hard to decipher. The data on each line are for the four periods listed on the top line.) T...
by jjustice
Sat Dec 06, 2014 11:01 am
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Cref Funds--their place in my asset allocation?
Replies: 32
Views: 1804

Re: Social Security 62 vs 66

It is not as easy to match or beat the value of delay by investing early social security payments as it appears at first sight. It could be done, but it is improbable and becomes virtually impossible if you were to live to 90 or so. Michael Kitces has done a very careful analysis of this matter. htt...
by jjustice
Fri Nov 21, 2014 11:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Social Security 62 vs 66
Replies: 58
Views: 6212

Re: "Easy" social security question...

Mike Piper has always been an exceptionally valuable member of this forum, but he had become even more valuable with the recent absence of sscitic. I miss the contributions of sscritic. Is he just taking some down time?

John
by jjustice
Sun Nov 09, 2014 4:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Easy" social security question...
Replies: 50
Views: 4559

Re: "Easy" social security question...

I suggest a #5 for Mike's list: you are the lower-earning spouse and much younger (say at least 10 years) than your spouse. Your benefit would probably be increased as a result of your spouse's death before your delay became advantageous. Question: How much younger would a lower-earning person with ...
by jjustice
Fri Nov 07, 2014 3:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Easy" social security question...
Replies: 50
Views: 4559

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 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: What do you pay for comprehensive and collision on your auto
Replies: 7
Views: 872

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 9:36 am
 
Forum: Investing - Help with Personal Investments
Topic: need help choosing options at TIAA-CREF
Replies: 34
Views: 1772

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 6:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 103
Views: 8278

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 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Age for Collecting Social Security Benefits
Replies: 103
Views: 8278

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 1:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF blog for members?
Replies: 1
Views: 208

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 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delaying SS while working past age 70
Replies: 135
Views: 10551

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 1:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delaying SS while working past age 70
Replies: 135
Views: 10551

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 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 1006

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 2:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 1006

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 10:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 1006

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 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Another when to start Social Security question.
Replies: 13
Views: 1006

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 9:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Why buy a car with cash?
Replies: 83
Views: 6799

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 9:39 am
 
Forum: Investing - Theory, News & General
Topic: Would you change stock allocation based on market conditions
Replies: 37
Views: 1847

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 10:44 am
 
Forum: Investing - Help with Personal Investments
Topic: How compelling is the TIAA Real Estate fund?
Replies: 85
Views: 5092

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 6:53 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4516

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 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4516

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 3:30 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4516

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 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I keep my TIAA account?
Replies: 31
Views: 1873

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 3:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA rollover
Replies: 9
Views: 537

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 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: What to replace TIAA Real Estate Account with.
Replies: 25
Views: 1705

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 11:29 am
 
Forum: Investing - Help with Personal Investments
Topic: CREF Equity Index Account or CREF Stock Account
Replies: 6
Views: 739

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 4:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I move Cref assets to Vanguard?
Replies: 19
Views: 1177

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 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break is over (Yep, a SS question)
Replies: 37
Views: 2858

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 1:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is now a bad time to invest?
Replies: 100
Views: 10207

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 12:22 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Total International Bond Index Fund
Replies: 38
Views: 3973

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 9:59 am
 
Forum: Personal Consumer Issues
Topic: does anyone use bank Bill Pay for Medicare premiums?
Replies: 8
Views: 619

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 9:02 am
 
Forum: Investing - Theory, News & General
Topic: Jeremy Grantham article [Bull market will "end badly"]
Replies: 22
Views: 4008
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