Search found 1184 matches

by Carl53
Thu Apr 28, 2016 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Young Male Living with Parents
Replies: 55
Views: 1966

Re: Young Male Living with Parents

If you are all content with your arrangement, good for you.
by Carl53
Thu Apr 28, 2016 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: When to start Social Security. A different take
Replies: 98
Views: 7243

Re: When to start Social Security. A different take

COLA increases for your earnings go with your entitlement up to age 62, I understand they are slightly different if you accumulate earnings that contribute to SS after that age. L. Hi Leeraar: This is new and good information to me. So, assuming no earnings after age 62, this implies that if I am 6...
by Carl53
Thu Apr 28, 2016 3:50 pm
Forum: Investing - Theory, News & General
Topic: When to begin taking Social Security payments?
Replies: 25
Views: 1009

Re: When to begin taking Social Security payments?

Thanks all. Just checked my most recent SSA statement 4/21/16). My forecast at 70 is $3,480. Spousal benefit at FRA is $2,636. Family limit is $4,614. It certainly makes the wait worthwhile. And her benefit improves if I predecease her. Thanks to all for your input thus far. I think your FRA is $26...
by Carl53
Thu Apr 28, 2016 3:46 pm
Forum: Investing - Theory, News & General
Topic: When to begin taking Social Security payments?
Replies: 25
Views: 1009

Re: When to begin taking Social Security payments?

Your wife might consider taking her benefit when you turn FRA(66). Hers would be reduced perhaps 25% or less, but you would be eligible to obtain 50% of her PIA as a spousal with a restricted application. When you reach 70 you would switch to your benefits at 132% of your PIA and she switches to spo...
by Carl53
Wed Apr 27, 2016 2:34 pm
Forum: Personal Consumer Issues
Topic: Off to Australia - need advice
Replies: 43
Views: 1878

Re: Off to Australia - need advice

We are planning a trip to Australia this summer (well, winter Down Under). I am mining for information, and would appreciate any tips/insights you might have :-) Here is what we have planned as of now. - eight day trip (arriving on Sunday and departing next Monday, both to and from Sydney) - curren...
by Carl53
Wed Apr 27, 2016 2:16 pm
Forum: Personal Consumer Issues
Topic: Off to Australia - need advice
Replies: 43
Views: 1878

Re: Off to Australia - need advice

I think the Great Barrier Reef was a little overrated as was the rain forest near Cairns. A tour of Sydney harbor is nice. Bondi beach near Sydney was so so. Check and see if there are any local holidays/events during your stay. The opera house tour is pretty much a must. Less than two hours east of...
by Carl53
Tue Apr 12, 2016 5:21 pm
Forum: Personal Consumer Issues
Topic: American Express Discontinuing Benefit Offers?
Replies: 4
Views: 1028

Re: American Express Discontinuing Benefit Offers?

Apparent website glitch as my offers are back. Nothing that I really want though.
by Carl53
Tue Apr 12, 2016 12:21 pm
Forum: Personal Consumer Issues
Topic: American Express Discontinuing Benefit Offers?
Replies: 4
Views: 1028

American Express Discontinuing Benefit Offers?

Today I logged into my AEP blue cash preferred account. Typically there are a number of benefit offers at the bottom of the home page often numbering 50 or more. The vast majority of the offers are from various online retailers. Today there are 4 nonoffers, just AEP self serving promos like get a fr...
by Carl53
Thu Apr 07, 2016 2:46 pm
Forum: Personal Consumer Issues
Topic: I'm Addicted [to investing and personal finance]
Replies: 63
Views: 7962

Re: I'm Addicted

I can relate. I spent a lot of time yesterday looking at this: https://am.jpmorgan.com/blob-gim/1383280028969/83456/jp-littlebook.pdf It's a little bit connected to my job, and I'm eight months from retirement so I don't feel too guilty goggling at the flat screen, but yeah. Can be addicting. Nice ...
by Carl53
Mon Mar 28, 2016 6:56 pm
Forum: Personal Consumer Issues
Topic: all-in-one? (printer, scanner, copier.)
Replies: 29
Views: 1643

Re: all-in-one? (printer, scanner, copier.)

I bought a used 3210 off of ebay last month for $125 after our former one broke. The lid got opened too far and apparently damaged a cable. I checked into refurbs but it would have been more expensive than the one I got. I know that other new all-in-ones (that often had less than stellar reviews) w...
by Carl53
Mon Mar 28, 2016 2:08 pm
Forum: Personal Consumer Issues
Topic: all-in-one? (printer, scanner, copier.)
Replies: 29
Views: 1643

Re: all-in-one? (printer, scanner, copier.)

I bought a used 3210 off of ebay last month for $125 after our former one broke. The lid got opened too far and apparently damaged a cable. I checked into refurbs but it would have been more expensive than the one I got. I know that other new all-in-ones (that often had less than stellar reviews) we...
by Carl53
Sat Mar 26, 2016 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Home too small
Replies: 45
Views: 4109

Re: Home too small

Hi all, We're thinking of growing our family. Currently, it is my wife, me, and our two year old (and a cat and three chickens). I'm 41, my wife is 30. We have a small house in a nice part of town. Prices in our neighborhood have shot up and it would be really tough for us to find a bigger house in...
by Carl53
Fri Mar 25, 2016 12:13 pm
Forum: Personal Consumer Issues
Topic: pool heater - anyone have a heat pump?
Replies: 3
Views: 336

Re: pool heater - anyone have a heat pump?

I've had a natural gas pool heater for about 10 years (in Ohio). Besides the heater I had to get the line from the meter upsized per code. Probably would not have been necessary if I stayed with a medium sized heater but I went with a 350,000 unit to go with my 40,000 gallon pool. Cost for line and ...
by Carl53
Thu Mar 24, 2016 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Financially, how have you done/doing vs. your parents?
Replies: 134
Views: 10183

Re: Financially, how have you done/doing vs. your parents?

I have done somewhat better than my parents. As a boomer, with an engineering degree good pay was available. That said both my parents and in-laws did relatively well by just being frugal and saving at banks and having steady blue collar employment. None of us have done better than my paternal grand...
by Carl53
Thu Mar 24, 2016 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Pension - Joint Survivor Annuity
Replies: 41
Views: 2127

Re: Defined Benefit Pension - Joint Survivor Annuity

I understand that my 50% survivor benefit pension would revert to the somewhat higher 0% survivor benefit pension level if my spouse predeceased me.
by Carl53
Thu Mar 24, 2016 7:01 am
Forum: Personal Finance (Not Investing)
Topic: student loan pay off redux
Replies: 8
Views: 793

Re: student loan pay off redux

My next due date has been advanced to 2019 given the extra payments I have made (federal loans). Does this mean that you have only made prepayment of the next 3 years of payments or has the principal been reduced by the total amount of your extra payments? Did the amount you owe drop by $27000 if y...
by Carl53
Thu Mar 24, 2016 5:20 am
Forum: Personal Finance (Not Investing)
Topic: File-and-suspend: what happens when one spouse dies before claiming individual benefits?
Replies: 1
Views: 349

Re: File-and-suspend: what happens when one spouse dies before claiming individual benefits?

She would get whatever his benefit would have been on the day he passed, including accumulated delayed retirement credits. If she is younger than the survivors full retirement age when he passes (for her I believe it would be age 66) there would be a 0.396%/month reduction in benefits. https://www.s...
by Carl53
Wed Mar 23, 2016 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Is there a way to KNOW if card is chip-and-pin?
Replies: 6
Views: 572

Re: Is there a way to KNOW if card is chip-and-pin?

I am going through this too in getting in getting ready for a trip to Europe. In the paperwork for my PenFed card it and on their web site it explicitly says that it should work as a chip and pin as well as for ATMs. I would check the details on their web site to if it explicitly says that the chip...
by Carl53
Wed Mar 23, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Pension - Joint Survivor Annuity
Replies: 41
Views: 2127

Re: Defined Benefit Pension - Joint Survivor Annuity

My understanding when I retired a few years ago was that the 50% option default was a legal requirement. The purpose is to protect the interests of the spouse in case the pension owner and spouse are at loggerheads over what to choose. In that case, the pension owner can resolve the matter by selec...
by Carl53
Mon Mar 21, 2016 6:32 am
Forum: Investing - Help with Personal Investments
Topic: The Exclusive Consumer Staple Fund
Replies: 3
Views: 490

Re: The Exclusive Consumer Staple Fund

Other than the REIT index fund, all of the equity sector index funds have a $100,000 minimum, which gives admiral shares (no investor share class available). It's not just consumer staples but everything from energy to health care. Minor correction, the admiral health and energy funds have $50,000 ...
by Carl53
Sat Mar 19, 2016 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirees - What triggered you to retire?
Replies: 96
Views: 9855

Re: Early Retirees - What triggered you to retire?

We talked about retiring early when we first married. As I approached my 55th birthday, a same age coworker had a lifechanging health issue. Given that my spouse had major health issuses, we reevaluated whether it was better to enjoy the potentially few relatively good years that we might have toget...
by Carl53
Sat Mar 19, 2016 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: Help me help my recently widowed mom
Replies: 23
Views: 1657

Re: Help me help my recently widowed mom

All, Thank you for all your suggestions. I am hoping someone will still suggest how to allocate her cash and in what investments besides just the index funds (i.e., laddered CDs, etc). I will address the questions raised so far. Her withdrawal from her assets won't just be the additional $42k which...
by Carl53
Fri Mar 18, 2016 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: spousal social security
Replies: 3
Views: 584

Re: spousal social security

Half of your PIA, your age 66 benefit assuming that you are at least 62 by the end of this year. Note that she could claim her benefit prior to age 66 and you could file a restricted claim for half of her PIA if you were 62 by the end of last year.
by Carl53
Thu Mar 17, 2016 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Downgrading a CC [Credit Card]
Replies: 16
Views: 1473

Re: Downgrading a CC [Credit Card]

Be sure to ask if you can retain any up redeemed cash rebates.
by Carl53
Tue Mar 15, 2016 6:04 pm
Forum: Investing - Help with Personal Investments
Topic: Pension options
Replies: 14
Views: 1546

Re: Pension options

Well I am collecting my spouse half of SS today while I am working so yes I will delay my SS until I am 70. I am getting SS $14,400 today and at age 70 SS will be $35,900. So until I am 70 my SS is fairly low for tax purposes. option 1: (age 70 ½) taking monthly annuity $2475 = $29,700 pension $780...
by Carl53
Tue Mar 15, 2016 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Distributing lump sum to student loans
Replies: 9
Views: 920

Re: Distributing lump sum to student loans

Just be sure as to how the excess payments will be applied before you make any extra payments on any of the loans. Try to get any communication in writing and review the loans terms. Also provide written instructions with each payment and keep a copy for yourselves.
by Carl53
Mon Mar 14, 2016 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: Pension options
Replies: 14
Views: 1546

Re: Pension options

https://www.bogleheads.org/wiki/Roth_IRA_conversion Recognize two cautions regarding taking conversions during retirement: 1.If you are drawing Social Security, a Roth IRA conversion could result in a one-year increase in the taxable portion of your Social Security benefits. Total income for Social ...
by Carl53
Fri Mar 04, 2016 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Minimum Required Distribution after death of spouse and settling estate
Replies: 6
Views: 737

Re: Minimum Required Distribution after death of spouse and settling estate

I remain confused about why she says the past year's (2015) RMD would be scheduled to be paid in September 2016. Is that even done?


She probably is just referring to using the 2015 EOY balance to determine the 2016 RMD.
by Carl53
Wed Feb 24, 2016 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: What income tax bracket will I be in?
Replies: 10
Views: 858

Re: What income tax bracket will I be in?

Any options for pretax payment of health insurance premiums or FSA? You can also contribute enough to a TIRA that would drop your taxable income. Any educational loan interest, relocation expenses or itemizable deductions are other alternatives.
by Carl53
Wed Feb 24, 2016 9:54 am
Forum: Investing - Help with Personal Investments
Topic: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?
Replies: 32
Views: 2254

Re: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?

Student loans use a formula where interest accrues daily. So when your monthly payment is due, the accrued interest based on the number of days since the last payment is paid first and the balance goes to the principal. All federal loans follow this formula. Looking at your payment history, it look...
by Carl53
Wed Feb 24, 2016 8:52 am
Forum: Investing - Help with Personal Investments
Topic: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?
Replies: 32
Views: 2254

Re: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?

When they applied the extra payment did the balance drop by the amount of the extra payment above and beyond what it would have dropped had you made just the regular payment? Yes, the principal balance dropped. I don't remember if the monthly payment dropped. It's not available on their website and...
by Carl53
Wed Feb 24, 2016 8:34 am
Forum: Investing - Help with Personal Investments
Topic: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?
Replies: 32
Views: 2254

Re: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?

Carl, thanks for the clarification. I was trying to figure that out before your post. It's very helpful. I'll have to reread the terms of my loan. I have instructed them each time I made an additional repayment in the past to place the extra payment on the principal. As best I remember, it would re...
by Carl53
Wed Feb 24, 2016 7:56 am
Forum: Investing - Help with Personal Investments
Topic: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?
Replies: 32
Views: 2254

Re: 27, ROTH contribution or pay down debt (7%)?

Not following the math here. 6% x $34,000 = $2,040 That's because my student loan company (Navient) front-loads the repayment schedule with interest. That is why, for example, 39.4% of my payments this past year went towards interest . I am in my third/4th year of repayment on a ten year repayment ...
by Carl53
Wed Feb 24, 2016 6:51 am
Forum: Personal Finance (Not Investing)
Topic: [5 yr CD vs new Ford 5 yr] corporate bond
Replies: 12
Views: 986

Re: corporate bond

Thank you for reading my post. All what are you saying is correct and I know that. Any investments stock mutual funds, ETF have some element of risk more or less. I have a mortgage 5 years left ($50000, 2.62%)and I don't want to pay it off. Don't want to lock money in my home, know body know a futu...
by Carl53
Sun Feb 21, 2016 6:51 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversion: Threshold checklist
Replies: 55
Views: 5244

Re: Roth conversion: Threshold checklist

How does one factor in ACA subsidies? Both my wife and I are in out late 50's and currently qualify for ACA subsidies. How does one determine if it makes sense to forgo those subsidies to do conversions? This does not affect me at the present time, but suspect that the ACA subsidies could be more v...
by Carl53
Sun Feb 21, 2016 6:43 am
Forum: Personal Finance (Not Investing)
Topic: Another question on increasing Social Security
Replies: 18
Views: 1675

Re: Another question on increasing Social Security

Try using AnyPIA, downloadable from the SS website. I used it to gin up a case that got me a SS benefit of around 900 at 62. Used five working years in each of the 70's, 80s, 90s and 00's. Picked the suggested average income for each year. PIA was about 1162. Age 62 the benefit would be a little und...
by Carl53
Sat Feb 20, 2016 6:48 am
Forum: Investing - Help with Personal Investments
Topic: 27, ROTH contribution or pay down debt (39% of payments to interest this past year)?
Replies: 32
Views: 2254

Re: 27, ROTH contribution or pay down debt (7%)?

I don't want to be a downer right from the start, but are you really ready to forgo additional loan payoff and retirement investing just so that you can become house poor in 3 years? There is no math that makes even a 400k home with a 40k down payment work out at an income of 50k a year. You will b...
by Carl53
Sat Feb 13, 2016 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Buy Points?
Replies: 16
Views: 1704

Re: Should I Buy Points?

I agree with others that the home price might make you house poor in the future. If you do buy, I like grabiner's idea to utilize your taxable funds. Consider using some of the IRA money to live on allowing the SS payment to grow. Do as suggested by others to precheck your tax situation prior to com...
by Carl53
Sat Feb 13, 2016 4:52 pm
Forum: Personal Consumer Issues
Topic: Emergency Standby Generator
Replies: 41
Views: 2366

Re: Emergency Standby Generator

I am thinking about installing an emergency generator for our house but have NO idea of what capacity I should go for. Thoughts: ⋅ We have 250 Amp service but suspect something for emergencies could be less than that. I see the capacities listed in KWH but don't know how to estimate my ne...
by Carl53
Tue Feb 09, 2016 2:29 pm
Forum: Personal Consumer Issues
Topic: White Kitchen Cabinets?
Replies: 55
Views: 4936

Re: White Kitchen Cabinets?

We painted the cabinets white, got rid of the wallpaper and painted the walls too two years ago. The kitchen is much brighter. Still looks good.
by Carl53
Sun Feb 07, 2016 7:55 am
Forum: Personal Finance (Not Investing)
Topic: (Another) Roth Conversion Question
Replies: 16
Views: 1276

Re: (Another) Roth Conversion Question

John
My apologies for kind of mixing up the situations of yours and that of the original poster.
by Carl53
Sun Feb 07, 2016 5:07 am
Forum: Personal Finance (Not Investing)
Topic: (Another) Roth Conversion Question
Replies: 16
Views: 1276

Re: (Another) Roth Conversion Question

JGG, The tax code is so complicated with so many discontinuities that is a real struggle to understand your incremental. See this discussion I started after I used my tax software and found out that the 25% and 28% brackets had mysteriously vanished https://www.bogleheads.org/forum/viewtopic.php?p=...
by Carl53
Sat Feb 06, 2016 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Should You Work Longer ?
Replies: 10
Views: 1570

Re: Should Your Work Longer ?

When I retired it was prior to my company freezing the pension plan. However, I postulated that the date of my demise while unknown to me was not likely to change due to my retiring. I also calculated given the stated assumption, my company was no longer needing to contribute to the pension program ...
by Carl53
Sat Feb 06, 2016 7:33 am
Forum: Investing - Help with Personal Investments
Topic: Partial Conversion/Recharacterization of CD Experience?
Replies: 1
Views: 201

Partial Conversion/Recharacterization of CD Experience?

Typically, we have had two to four Roth conversions at Vanguard, using the horse race technique, keeping the winner while recharacterizing the losers. Last year, we had one clear winner, which we kept. Since that time, the market has slipped and it too, is now down. We have a sizeable portion of my ...
by Carl53
Fri Feb 05, 2016 8:42 am
Forum: Investing - Help with Personal Investments
Topic: I Lost My FInancial Brain - Please Help
Replies: 85
Views: 7910

Re: I Lost My FInancial Brain - Please Help

SocSec at 62 will be $20K. I'm don't know much about it but could you take a Social Security Survivors benefit and delay starting your own Social Security until you are older? That might allow you to have a larger benefit and not need to draw down your savings as much if you live to be an older age...
by Carl53
Fri Feb 05, 2016 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 28
Views: 2280

Re: Tax rate on IRA withdrawal when on Social Security

Doc: Given our pensions, 85% of our SS is taxed. To estimate our taxes, I calculated our AGI and MAGI by summing our sources of income excluding SS and then added 85% of SS income. Next, I calculated our Federal Taxable Income by subtracting our standard deduction and exemptions from MAGI. Then, I ...
by Carl53
Fri Feb 05, 2016 7:30 am
Forum: Personal Finance (Not Investing)
Topic: What growth rate would you use?
Replies: 75
Views: 3990

Re: What growth rate would you use?

I've used 2% real for projections, but for the last six years have a compounded 4.3% real attained. Last year was -1.6%.
by Carl53
Thu Feb 04, 2016 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 28
Views: 2280

Re: Tax rate on IRA withdrawal when on Social Security

If you have a year that necessitates taking additional withdrawals, such that all of your SS is taxable, consider taking additional TIRA withdrawals in the head space of the 25% bracket. That is the portion of the 25% bracket between where all of your SS is taxable and the bottom of the 28% bracket...

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