Search found 191 matches

by jtelwood
Sat Apr 17, 2021 7:55 am
Forum: Personal Consumer Issues
Topic: Replacement windows
Replies: 19
Views: 1879

Re: Replacement windows

Where is your house located, ie. on the coast, in the montains, etc.?
by jtelwood
Sat Apr 04, 2020 3:32 am
Forum: Personal Investments
Topic: Question for bond guru's
Replies: 3
Views: 496

Question for bond guru's

How will central bank policies being put in place to address the expected global economic downturn affect the performance of the VG Total International Bond Index Fund going forward?

jte
by jtelwood
Sat Apr 04, 2020 3:03 am
Forum: Personal Consumer Issues
Topic: Should I cancel my travel in France and Belgium in mid May?
Replies: 75
Views: 7063

Re: Should I cancel my travel in France and Belgium in mid May?

I live in Mons Belgium and hope to return to the US later this month. My 16 April flight was canceled. The current country lockdown may be lifted on 19 April. If not, it will be extended to 3 May. Nothing is normal at this time. Schools remain closed. With the exception of grocery stores and pharmacies, everything else is shut down. Returning to normal, a normal that a visitor would enjoy, is probably not in the immediate future. I would suggest you seriously consider postponing your trip. The state department has been putting out travel advisories to/from Belgium. These should help with your decision.

jte
by jtelwood
Sun Jan 26, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 4
Views: 735

Re: Tax question

Many thanks to all for the information provided.

jte
by jtelwood
Sat Jan 25, 2020 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 4
Views: 735

Tax question

My questions pertain to the state income tax refund. I am a North Carolina resident. Below is the tax tip found in the instructions for schedule 1, line 1. Line 1 Taxable Refunds, Credits, or Offsets of State and Local Income Taxes None of your refund is taxable if, in the year you paid the tax, you either (a) didn't itemize deductions, or (b) elected to deduct state and local general sales taxes instead of state and local income taxes. I'll try to provide some context with the information below - - For tax year 2017. I itemized my federal return. Declared the state income tax return as income on 1040 line 10 and took a deduction on 1040 schedule A, line 5. - For tax year 2018. I took the standard deduction on the federal return. - For tax ...
by jtelwood
Fri Jan 24, 2020 6:53 am
Forum: Personal Finance (Not Investing)
Topic: IRS tax form [When is Form 8606 available?]
Replies: 12
Views: 767

Re: IRS tax form

I tried it with Firefox and got a 2019 version. Sorry for the confusion. Tks for your patience.
by jtelwood
Fri Jan 24, 2020 6:46 am
Forum: Personal Finance (Not Investing)
Topic: IRS tax form [When is Form 8606 available?]
Replies: 12
Views: 767

Re: IRS tax form

I don't understand. When I go to the site provided (below), it's a 2018 8606 form. When I cut and pasted it to the browser, it was also the 2018 version. How can this be?


https://www.irs.gov/pub/irs-pdf/f8606.pdf
by jtelwood
Fri Jan 24, 2020 5:53 am
Forum: Personal Finance (Not Investing)
Topic: IRS tax form [When is Form 8606 available?]
Replies: 12
Views: 767

Re: IRS tax form

That's for tax year 2018. I need the form for the current tax year (2019).
by jtelwood
Fri Jan 24, 2020 5:32 am
Forum: Personal Finance (Not Investing)
Topic: IRS tax form [When is Form 8606 available?]
Replies: 12
Views: 767

IRS tax form [When is Form 8606 available?]

Anyone know when form 8606 might be available? Tks

jte
by jtelwood
Tue Jul 16, 2019 10:32 am
Forum: Personal Investments
Topic: World's Bond markets
Replies: 3
Views: 422

Re: World's Bond markets

Thanks for the responses. I understand that the article focused on interest rates. I didn't understand how the negative interest rates would affect US bonds, particularly corporate vs US bonds. And if the US were to see negative interest rates, would that affect both corporate and treasury bonds essentially the same? That was why I used the VG treasury fund as an example.

I see the misunderstanding I caused in my initial post. Sorry for not being clearer. Again, thanks for sharing your thoughts.
by jtelwood
Tue Jul 16, 2019 9:34 am
Forum: Personal Investments
Topic: World's Bond markets
Replies: 3
Views: 422

World's Bond markets

Bloomberg Business week had an article on the world's bond markets titled - " The Black Hole engulfing the World's Bond Markets". The article can be found at https://www.bloomberg.com/news/articles ... nd=premium.

Can someone explain what DIY investors need to know, to understand? For example, I have the 3 fund portfolio and wonder whether I should replace the total bond market fund with a bond fund that might be a little safer, like the VG intermediate term treasury fund? Safety is my primary objective.

Or is this article something to just read and then move on?

Thanks for any help.
jte
by jtelwood
Mon Jun 17, 2019 7:16 am
Forum: Personal Investments
Topic: ROTH asset allocation
Replies: 5
Views: 1051

Re: ROTH asset allocation

We have followed the recommendations in the post provided by Ready3retire until a couple of years ago when we moved a limited amount of total bond market money into our ROTHs. Looking ahead,we knew the dates that we would be replacing both of our HVAC systems (total 30K), the possibility of needing to replace the roof (estimated at 25K), and money for a car (just in case). We both have government pensions and social security which is taxed as ordinary income. And we will both be taking our RMD's, also taxed as ordinary income. We also do more traveling than many. We wanted to have the flexibility to use some ROTH money for these known expenditures if it made sense when the time came. That was the reason for some bonds in the ROTH accounts. ...
by jtelwood
Mon Jun 17, 2019 4:30 am
Forum: Personal Investments
Topic: ROTH asset allocation
Replies: 5
Views: 1051

ROTH asset allocation

Some background information.

Married and retired. No debts. Asset allocation is 50% stock/50% bonds. Portfolio is the 3 fund plus VG Total International Bond Index. ROTH IRA's comprise a little more than 25% of total portfolio value.

Should the ROTH accounts duplicate the broader portfolio, ie. same asset and sub-asset allocations?

Perhaps this is a question without a right or wrong answer. I haven't seen this question discussed and would like to hear what others do and why.

Many thanks,
jte
by jtelwood
Mon Mar 04, 2019 8:35 am
Forum: Non-US Investing
Topic: social security
Replies: 3
Views: 812

Re: social security

Thanks Supersharpie. It will be interesting to see the calculation. I worked a little less than 5 years under the old CSRS retirement system and did not pay into social security. I returned to work in the 1980's in West Berlin and was paid in local currency. I paid into the German pension system and not into the US social security system during this time. I think this was IAW the Berlin tariff agreement. After leaving Berlin, I accepted employment with the federal government and retired a couple of years ago with a small pension. Retirement wasn't for me, at least not then, and I returned to the federal government a year ago to work in Korea and am now in Belgium. I will punch out next year and take social security at 70. As I mentioned ear...
by jtelwood
Tue Feb 26, 2019 6:21 am
Forum: Non-US Investing
Topic: social security
Replies: 3
Views: 812

social security

Background. Prior to reunification, the West German government provided funding for some allied (US, UK, and French) activities in West Berlin. One of which was the American Child Care Facility where I was working. I was paid in the local currency, German Deutsche Marks at the time. I worked long enough to qualify for a small 'German pension' when I reached 65. I applied for this 'pension' and have been receiving a monthly payment for several years. I believe the US and German governments have a reciprocal agreement that allows, in my case, for my 'German pension' to rolled into my Social Security benefit when I take it at age 70. I have placed quotation marks on German pension as I believe it and Social Security are synonymous in this cont...
by jtelwood
Wed Feb 13, 2019 8:44 am
Forum: Personal Finance (Not Investing)
Topic: legal documents - wills, POAs etc.
Replies: 8
Views: 654

Re: legal documents - wills, POAs etc.

Thanks for the response.
by jtelwood
Wed Feb 13, 2019 7:52 am
Forum: Personal Finance (Not Investing)
Topic: legal documents - wills, POAs etc.
Replies: 8
Views: 654

Re: legal documents - wills, POAs etc.

That's correct. The documents use the military mailing address, not my residence in Germany at the time.
by jtelwood
Wed Feb 13, 2019 7:15 am
Forum: Personal Finance (Not Investing)
Topic: legal documents - wills, POAs etc.
Replies: 8
Views: 654

Re: legal documents - wills, POAs etc.

I was working for the US government when the documents were prepared by the JAG office and the attorney used my US Mailing PO box address (APO address).

Also, does the fact that these documents were prepared 5 + years ago matter? Is there a guide that should be followed regarding the date on these documents?
by jtelwood
Wed Feb 13, 2019 5:50 am
Forum: Personal Finance (Not Investing)
Topic: legal documents - wills, POAs etc.
Replies: 8
Views: 654

legal documents - wills, POAs etc.

My will, durable POA, and medical POA were last updated in 2014. Other than living at a different address than indicated in the documents, the information in each remains valid. To remain legal, must the documents be updated to reflect my correct address? If yes, what is the correct way of doing this?

Thanks for your assistance.

jte
by jtelwood
Mon Jan 14, 2019 7:39 am
Forum: Personal Investments
Topic: Retirement portfolio
Replies: 14
Views: 2513

Retirement portfolio

I am 73 and my wife 69. Our portfolio has been the VG '4 fund portfolio' for many years. Our stock/bond allocation is 50/50. We are planning to continue with this portfolio and asset allocation until I am no longer able to competently manage it. While my wife could continue after I pass, she would rather not. I would like to simplify this part of her life. I want to reduce the stock allocation to 40%. I also want to keep the costs as low as possible and would rather not use the VG Personal Advisor Services or any advisory service. I am looking at 2 possibilities and would like the forum's opinions/ideas on each, as well as other options. One is the VG Life Strategy Conservative Growth Fund (VSCGX), the other is the VG Wellesley Income Fund ...
by jtelwood
Wed Nov 28, 2018 10:31 am
Forum: Investing - Theory, News & General
Topic: A bubble of corporate debt.
Replies: 31
Views: 3734

Re: Corporate debt bubble

Thanks. That's where I'm at. Just wanted to hear what other's think and why.
jte
by jtelwood
Wed Nov 28, 2018 8:15 am
Forum: Investing - Theory, News & General
Topic: A bubble of corporate debt.
Replies: 31
Views: 3734

Corporate debt bubble

[merged this post and its replies into the existing thread - moderator prudent]

I have recently read, as I suspect many of you as well, about the rising concern for the amount of debt many well established companies have taken on - G.E., AT&T, CVS Health, Sherwin-Williams Campbell Soup, etc. As interest rates rise and the economy eventually slows, many companies could be in danger of defaulting on their debt. The article goes on to say that a fear has started to cause disturbing ripples in the debt and equity markets.

My question - what kind of changes to one's portfolio would be prudent to consider, if any?

Appreciate any thoughts or comments.

jte
by jtelwood
Wed May 09, 2018 8:08 am
Forum: Personal Investments
Topic: purchasing cd's
Replies: 18
Views: 2875

Re: purchasing cd's

The bond fund that I would use to purchase the CD's is in a tax deferred traditional IRA. I want the CD's to be in the tax deferred account . Is this possible? How would it be done?
by jtelwood
Tue May 08, 2018 9:38 am
Forum: Personal Investments
Topic: purchasing cd's
Replies: 18
Views: 2875

purchasing cd's

I am thinking about using some bond money in my traditional ira with vanguard to purchase cd's but have never done this and would like to understand the process before moving forward. Any suggestions/recommendations on the best way to proceed would be greatly appreciated.

Thanks.

jte
by jtelwood
Thu Mar 15, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1638

Re: Gift tax

Thanks to all who responded. Your help was greatly appreciated.

jte
by jtelwood
Thu Mar 15, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1638

Re: Gift tax

Based on my understanding of the above guidance, this would be the plan. Since there are 2 credit card companies, I would pay 1 credit card company with a check and my wife would pay the other. Both checks would be drawn from our joint account. We would keep a record of the transaction, a note to ourselves that this was a gift, and include a copy of each check. Am I missing anything?
by jtelwood
Thu Mar 15, 2018 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1638

Re: Gift tax

I was going to do an electronic transfer. If I did and prepared a short letter (and my wife did one as well) would that work or is sending separate checks the better way to do it?
by jtelwood
Thu Mar 15, 2018 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1638

Re: Gift tax

Just for clarification. What if I gave my daughter a gift, say $11,000 and my wife give my daughter's husband a gift, also for $11,000; would that preclude the requirement for the completing the 709? And would it be legal?
by jtelwood
Thu Mar 15, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1638

Gift tax

I will be helping my daughter pay off a couple of credit card bills that total about $21,000. If I pay the credit card companies directly rather than giving the money to my daughter would this be a non-taxable gift? It's my understanding that paying a medical bill or school tuition is non-taxable if paid directly to the medical facility or learning institution. I don't know if paying a credit card company would qualify.

Her lecture is being prepared.

Any assistance is greatly appreciated.

jte
by jtelwood
Sat Feb 24, 2018 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Determining the cost basis for a home
Replies: 2
Views: 492

Determining the cost basis for a home

I purchased an older home in 1985 for $145,000. My intention was to rent the older home until the note was paid in full, then demolish the home and build a new house, which I did in 1992. The cost to build the new house was $275,000. Assuming the new house was rented but not depreciated and no improvements were made, would the cost (tax) basis be $420,000 ($145,000 + $275,000). This seems too simple. What am I missing?

jte
by jtelwood
Wed Feb 21, 2018 11:01 pm
Forum: Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 7272

Re: Bond fund in a ROTH

Thanks for the clarification.
by jtelwood
Tue Feb 20, 2018 11:39 pm
Forum: Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 7272

Re: Bond fund in a ROTH

I would like some clarification on a point made in an earlier post/reply. A paragraph from that post is below.

' View everything as one portfolio. You rebalance so that your portfolio risk level matches your risk tolerance. But if the market crashes, it only matters how much you lose after tax. It doesn't matter whether all the losses are in your Roth, or all in your 403(b), or half in each, since any of those will have the same effect on the amount you will be able to spend in retirement.'


My question - it seems to me that the effect would not be the same, specifically, wouldn't the one with the ROTH actually be able to spend more in retirement since his/her withdrawal would be tax free?

jte
by jtelwood
Mon Feb 05, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 1292

Re: IRS form 8606

thanks.
by jtelwood
Mon Feb 05, 2018 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 1292

Re: IRS form 8606

Thanks.
by jtelwood
Tue Jan 23, 2018 1:28 am
Forum: Personal Investments
Topic: Asset allocation and ROTH accounts
Replies: 2
Views: 523

Re: Asset allocation and ROTH accounts

If I needed to withdraw money from a ROTH and the stock market was down, I would withdraw from the bond fund.
by jtelwood
Mon Jan 22, 2018 11:20 pm
Forum: Personal Investments
Topic: Asset allocation and ROTH accounts
Replies: 2
Views: 523

Asset allocation and ROTH accounts

My portfolio consists of 2 stock funds (total stock market index and total international stock index) and several VG bond funds. I have both traditional and roth ira's as well as a small taxable stock fund in the portfolio. The asset allocation for the entire portfolio is 50/50. The total international stock index is 30% of equities. Until I retired several years ago, my roth contributions were always made to a stock fund. I think I had read that one should place investments with the highest expected returns in ROTH accounts. When I re-balanced the portfolio, I had always done that within my traditional IRA account, leaving the roth accounts in stock funds. I'm now wondering if my present allocation of 50/50 should also be reflected in the ...
by jtelwood
Thu Jan 18, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: IRS form 8606
Replies: 8
Views: 1292

IRS form 8606

Does anyone know when the IRS will provide the 2017 form 8606?

Tks
jte
by jtelwood
Tue Dec 19, 2017 2:43 pm
Forum: Investing - Theory, News & General
Topic: Back door ROTH
Replies: 2
Views: 724

Back door ROTH

Does the new tax legislaion repeal or alter the back door ROTH? The only information that I have seen about ROTH IRAs is repealing the recharacterization policy. Appreciate any information.

jte
by jtelwood
Fri Nov 17, 2017 12:51 am
Forum: Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 7272

Re: Bond fund in a ROTH

Thanks to everyone who took time to respond. I retired about 10 years ago. My wife retired in May of this year but concluded it was too early for her and accepted employment in Daegu, Korea. We arrived here 3 weeks ago. Now that she has reentered the work force, she will be able to contribute to an IRA and I to a spousal IRA. During the entire accumulation phase, we only contributed equity funds (Total Stock Market Index and Total International Stock Index) to our ROTH IRAs. Now in retirement (or soon to be for a 2nd time) I wanted to have the flexibility to withdraw from a ROTH account when the market was down and thought that having a bond fund in our ROTH would give us that flexibility. Much along the same thought process as the post fro...
by jtelwood
Thu Nov 16, 2017 4:20 am
Forum: Personal Investments
Topic: Bond fund in a ROTH
Replies: 32
Views: 7272

Bond fund in a ROTH

Are there situations when it makes sense to hold a bond fund in a ROTH IRA?
Appreciate any thoughts.

jte
by jtelwood
Thu Jul 13, 2017 1:04 pm
Forum: Non-US Investing
Topic: income taxes in Guam
Replies: 4
Views: 1221

Re: income taxes in Guam

Es tut mir leid, dass für meinen Fehler.
jte
by jtelwood
Thu Jul 13, 2017 5:52 am
Forum: Non-US Investing
Topic: income taxes in Guam
Replies: 4
Views: 1221

Re: income taxes in Guam

Thanks for taking the time to respond.

The information that I was able to find on a Guam tax site is very similiar to what you provided. That site talked about adopting the US tax code, property taxes, sales taxes, etc. but nothing about a local (ie. state equivalent income tax) income tax so I concluded there was none; as you have suggested. I have sent an email to the JAG at Anderson AF base to confirm.

We visited Guam in January of this year for a couple of weeks, primarily to hike. I agree with your comment, other than being an island in the south pacific, Guam and Hawaii are very different.

Thanks again for your response.

jte
by jtelwood
Tue Jul 11, 2017 7:08 am
Forum: Non-US Investing
Topic: income taxes in Guam
Replies: 4
Views: 1221

income taxes in Guam

Good morning,

My wife has accepted employment in Guam. She is a federal government employee (FERS). My understanding is that the territory of Guam has adopted the US Federal tax code. My question pertains to income tax at the local level, ie. state level. I have been unable to find any information as to whether Guam imposes a 'local or territory' income tax similar to a state income tax.

Any assistance would be greatly appreciated.

jte.
by jtelwood
Sat Apr 08, 2017 12:54 pm
Forum: Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1532

Re: Help for my nephew

Thanks for the responses.
by jtelwood
Sat Apr 08, 2017 12:48 pm
Forum: Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1532

Re: Help for my nephew

For flamesabers - yes, he is the sole beneficiary.
by jtelwood
Fri Apr 07, 2017 4:12 pm
Forum: Personal Investments
Topic: Help for my nephew
Replies: 9
Views: 1532

Help for my nephew

Some background. My nephew is a single, 24 year old Lt in the Army and will be receiving a small inheritance in the very near future - about 30K from a ROTH IRA and 2.5K from a traditional IRA. He does not need the money now and would like to invest it for his retirement. It's my understanding that he, as a non spouse beneficiary, has 2 options - one is to take the money over a 5 year period or two, over a longer period of time using the single life expectancy distribution rate. Some questions - 1. Is my understanding correct? If not,please clarify. 2. Are there other options? 3. I was thinking that the best option would be to keep the money in the ROTH account as long as possible and reinvest the RMD each year. What option would you sugges...
by jtelwood
Fri Dec 30, 2016 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: social security question
Replies: 2
Views: 1133

Re: social security question

Thanks for your reply.

I'm not sure I understand your last 2 sentences. Her birthday is June 29, 1950, so 66 is her full retirement age. According to the SS site provided in your reply, she can earn any amount and not her her SS reduced. Also not clear about the requirement to notify SS if she returns to work. At your convenience, please clarify. And again, many thanks for taking the time to respond.

jte
by jtelwood
Thu Dec 29, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: social security question
Replies: 2
Views: 1133

social security question

My wife retired earlier this year and decided to wait until 70 to take social security. I retired about 10 years ago and decided to take my social security early since it was such a small amount (windfall elimination provision). She filed a restricted application for a spousal benefit when she turned 66 earlier this year. She has decided to return to work in a few months.

Question - Can she continue to get the spousal benefit while she works or will it be discontinued.

Thanks for any assistance.

jte
by jtelwood
Thu Jul 28, 2016 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security
Replies: 2
Views: 900

Re: Social Security

Thanks much for the information.

jte
by jtelwood
Tue Jul 26, 2016 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Social Security
Replies: 2
Views: 900

Social Security

Background. My wife is 66 and has decided to delay taking Social Security until she is 70 years old. She recently retired from the federal government and has a FERS retirement pension. Prior to working with the federal government she was employed in West Berlin, Germany in the 1980s and she was paid with local currecy. This employment qualified her for a German old age benefit [ Social Security ]. She has not accepted payment of this benefit yet. Question. Before she accepts payment for this benefit she needs to understand how taking this benefit would impact, if at all, her US Social Security benefit at age 70. Is there an office within the Social Security administration that would be able to provide this information? Many thanks for any a...