Search found 6365 matches

by JW-Retired
Sat Oct 21, 2017 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Turning 65, and choosing not to take Medicare Part B
Replies: 16
Views: 1040

Re: Turning 65, and choosing not to take Medicare Part B

I have fairly comprehensive health coverage in retirement; which I plan to keep. And I will not collect social security till 70 years of age. I am turning 65 in 3 months and am considering not signing up for Medicare Part B. Are their others here who have chosen to not sign up for Medicare Part B? ...
by JW-Retired
Sat Oct 21, 2017 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: help with inheritance and financial planning
Replies: 6
Views: 492

Re: help with inheritance and financial planning

Definitely don't invest any assets in some insurance company scheme. Condolences, JW Please be specific for the benefit of the OP. Does "scheme" = "annuity?" Or, were you referring to something else? OK, I had annuities in mind, but I don't know what other names they might use for like investment "...
by JW-Retired
Sat Oct 21, 2017 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 27
Views: 640

Re: Commission only fiduciary planner

I will be having an initial free consultation with a team of financial advisors who are fiduciary and take no fees from me. They get paid by commission from the securities only, but offer additional securities for fees if wanted..not necessary though. Maybe no fees from you in that you don't actual...
by JW-Retired
Sat Oct 21, 2017 10:34 am
Forum: Investing - Help with Personal Investments
Topic: at whose cap gains rate are gifted stocks taxed?
Replies: 9
Views: 524

Re: at whose cap gains rate are gifted stocks taxed?

The other issue we run into is the gift tax. The amount we are giving each of them exceeds the $28,000 that we jointly could give on a tax free basis. So I believe that what I have to do is to file IRS paperwork which declares the gift and then it comes off the exempted amount of our estate taxes t...
by JW-Retired
Sat Oct 21, 2017 9:43 am
Forum: Investing - Help with Personal Investments
Topic: help with inheritance and financial planning
Replies: 6
Views: 492

Re: help with inheritance and financial planning

Pay off our home. Should I pay off loan now? I can use some of the life insurance on this. It would depend on the interest rate on the loan but I would not do it now regardless. General advice is don't make any big financial moves for a year or two after such a tragedy. Definitely don't invest any ...
by JW-Retired
Fri Oct 20, 2017 8:01 pm
Forum: Investing - Help with Personal Investments
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 81
Views: 4744

Re: Does anyone here with net worths north of $1 mil use financial advisors?

Use a financial advisor? Not a chance due to a bad experience with a CPA around 1973. But it was actually lucky and I should posthumously kiss the guy since It cured me from ever using such leeches again. I'm guessing it probably has saved me and DW well north of $1M because I was forevermore a DIY ...
by JW-Retired
Fri Oct 20, 2017 9:37 am
Forum: Investing - Help with Personal Investments
Topic: deductible Traditional IRA or Roth IRA
Replies: 5
Views: 195

Re: deductible Traditional IRA or Roth IRA

Here is some more information: 62k defined pension need to withdraw 30k next year to pay off my mortgage and car payment ( House worth 1 Million) 457B and 403B combined is 620k Traditional IRAs - 10k No social security payment No need to leave inheritance money but leftover would go to my niece in ...
by JW-Retired
Fri Oct 20, 2017 8:29 am
Forum: Investing - Help with Personal Investments
Topic: deductible Traditional IRA or Roth IRA
Replies: 5
Views: 195

Re: deductible Traditional IRA or Roth IRA

It all depends on what your tax bracket will be this year, versus in future years both before and after you are taking RMDs, Social Security, and all other types of retirement income you might have. If you can get a tax deduction this year and then will always be in the 50% of the retired population...
by JW-Retired
Fri Oct 20, 2017 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Life in AMT Hell (or, How I Learned to Keep Worrying and Hate the Exemption Phaseout)
Replies: 37
Views: 4368

Re: Life in AMT Hell (or, How I Learned to Keep Worrying and Hate the Exemption Phaseout)

I suspect the most common road to Hell (paved with good intentions) is living in a high income tax state with AGI (MFJ) ~$150k-450k. Yep, it's tax Hell here in CA but if you like the weather and are not about to move, there is just no point worrying about it. Also, CA Proposition 13 mitigates a fai...
by JW-Retired
Fri Oct 20, 2017 7:18 am
Forum: Investing - Help with Personal Investments
Topic: Gifting taxable account with large capital gains to college children
Replies: 11
Views: 679

Re: Gifting taxable account with large capital gains to college children

Determined, IMO, they are much too young to gift them a lot all at once. You could probably use some for their college expenses but we need to know more. How is that being funded now? Plus how much have your saved for your own retirement so far? We can't tell much from your net worth since it could ...
by JW-Retired
Thu Oct 19, 2017 10:00 pm
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA – is it worth paying taxes now on gains?
Replies: 5
Views: 452

Re: Back Door Roth IRA – is it worth paying taxes now on gains?

I’m considering converting my nondeductible traditional IRA with 33% gains to a roth ira (back door approach). Our income exceeds the normal Roth IRA limits. We have no other IRAs, 100% of the contributions were taxed, but upon conversion I will have to pay a significant amount of taxes on the gain...
by JW-Retired
Thu Oct 19, 2017 10:18 am
Forum: Investing - Help with Personal Investments
Topic: 401k to traditional IRA with Backdoor Roth
Replies: 4
Views: 333

Re: 401k to traditional IRA with Backdoor Roth

From what i understand when I do backdoor conversion I have to take into account all my IRA account. Hence if my 401k is moved to personal IRA than I need to convert that as well. This will be big tax implication which i would like to avoid. - Is there a way to get away with this situation, where I...
by JW-Retired
Wed Oct 18, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Help Me Think About Roth Conversions and Retirement?
Replies: 17
Views: 1594

Re: Help Me Think About Roth Conversions and Retirement?

Strayshot, I already have that plotted out as you suggest. And yes, I will have a very generous pension when I retire - nearly 40 years of service in total. Current tax bracket: 33% + 9.3% - for 2017-2025. Retire Feb 2026, age 60: One month income, 10 months retirement income, fall to 25% Fed and 9...
by JW-Retired
Tue Oct 17, 2017 4:31 pm
Forum: Investing - Theory, News & General
Topic: 401(k) Rollover experience with Vanguard Question
Replies: 4
Views: 362

Re: 401(k) Rollover experience with Vanguard Question

All good. Never has taken us more than 4 or 5 working days going from another mutual fund company to Vanguard. Maybe a couple of days more the one time it was from an employer pension plan and they insisted on sending the check for Vanguard through me. Otherwise, we always choose to have Vanguard al...
by JW-Retired
Tue Oct 17, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Maximizing a couples benefits
Replies: 35
Views: 2729

Re: Social Security - Maximizing a couples benefits

Thanks to some of you. Priceless 8-) Yes, that comment made me laugh also. I know this isn't what mrgeeze wants to hear, but I'll agree with the others (who are not being thanked) that he should wait as long as possible to claim, to maximize the benefit for the survivor. My husband is 7 years older...
by JW-Retired
Tue Oct 17, 2017 10:08 am
Forum: Investing - Help with Personal Investments
Topic: Help w/ parents investments
Replies: 22
Views: 886

Re: Help w/ parents investments

But the counter argument is that if he continues to work at his business for 5-10 years and isn't withdrawing anything and remains in a high equity position and his accounts grow significantly, then when he finally starts withdrawing what he needs, it won't be a 3% withdrawal, it might be 1-2%. (I ...
by JW-Retired
Tue Oct 17, 2017 9:15 am
Forum: Investing - Help with Personal Investments
Topic: Help w/ parents investments
Replies: 22
Views: 886

Re: Help w/ parents investments

It is absolutely correct that if there is a risk here to be managed by reducing stock allocation, then that should be done now. I differ somewhat on the risk, however. At a 3% withdrawal rate, if that should come to pass, the risk to continued retirement income is not much more or even any more for...
by JW-Retired
Tue Oct 17, 2017 8:31 am
Forum: Investing - Help with Personal Investments
Topic: Help w/ parents investments
Replies: 22
Views: 886

Re: Help w/ parents investments

Because they aren't relying on the retirement accounts at all, their rationale was to put it all in stocks as a way to maximize long term growth for their estate. My Dad did say that if his business income was suddenly zero and had to start withdrawing from the retirement accounts, he would change ...
by JW-Retired
Mon Oct 16, 2017 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 31
Views: 1304

Re: Making a Roth IRA for my Dad

Yup this is exactly what I'm trying to do. I was under the impression you could open a Roth IRA with any amount you want, and that you were just limited to the contribution in the subsequent years ($5,500/6,500) but I'm not sure. Does anyone know this? Yes, 99% of us here know for sure your "impres...
by JW-Retired
Sun Oct 15, 2017 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes
Replies: 8
Views: 709

Re: Estimating Taxes

multiham wrote:
Sun Oct 15, 2017 5:31 pm
Thank you, I will check out the spreadsheet. I created one myself, but I don't have 100% confidence in my Excel skills or my full understanding of the tax laws!
If you are in AMT territory it gets awfully complicated. I would at least check it against the on-line tax calculators.
JW
by JW-Retired
Sun Oct 15, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Maximizing a couples benefits
Replies: 35
Views: 2729

Re: Social Security - Maximizing a couples benefits

See https://www.ssa.gov/pubs/EN-05-10084.pdf Social Security uses the deceased worker’s basic benefit amount to calculate the percentage survivors can get. The percentage depends on the survivor’s age and relationship to the worker. If the worker who died was getting reduced benefits, we’ll base you...
by JW-Retired
Sun Oct 15, 2017 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Maximizing a couples benefits
Replies: 35
Views: 2729

Re: Social Security - Maximizing a couples benefits

Not really an expert, but I believe the higher earner should wait until at least FRA to maximize the survivor benefit for the lower earning spouse. Assuming OP lives at least to FRA, the widow benefit will be the high earner's benefit amount at the time he dies. Maximizing the survivor benefit for ...
by JW-Retired
Sun Oct 15, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Maximizing a couples benefits
Replies: 35
Views: 2729

Re: Social Security - Maximizing a couples benefits

Not really an expert, but I believe the higher earner should wait until at least FRA to maximize the survivor benefit for the lower earning spouse. Assuming OP lives at least to FRA, the widow benefit will be the high earner's benefit amount at the time he dies. Maximizing the survivor benefit for ...
by JW-Retired
Sun Oct 15, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes
Replies: 8
Views: 709

Re: Estimating Taxes

I would like to run some scenario's for my 2018 taxes. I usually end up paying a small amount of AMT. I have some stock options that I need to exercise before 12/31/18 and want to know their impact if I exercise them (or part of them) this year vs. next year. What software or maybe a spreadsheet so...
by JW-Retired
Sat Oct 14, 2017 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Innovis and ChexSystems freeze confirmation letters
Replies: 40
Views: 5449

Re: Innovis and ChexSystems freeze confirmation letters

We actually got credit reports from both Innovis and ChexSystems first (by mail) to see what they contained. It was pretty light. We then froze them both on line, which happened immediately, but the PINS to unfreeze them was to be sent by US mail. Those didn't reach us yet as it hasn't been much ove...
by JW-Retired
Sat Oct 14, 2017 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question regarding estimated taxes
Replies: 6
Views: 413

Re: Tax question regarding estimated taxes

eagleeyes wrote:
Sat Oct 14, 2017 9:27 pm
Is there any particular forms to fill out? Do I need a tax guy doing the work?
https://www.irs.gov/pub/irs-pdf/f1040es.pdf
by JW-Retired
Sat Oct 14, 2017 7:46 pm
Forum: Investing - Theory, News & General
Topic: What's your asset allocation and why?
Replies: 160
Views: 13777

Re: What's your asset allocation and why?

Before Bogleheads banned polls there were "what's your AA polls". Old ones showing AA versus age are still available.

See here for example: http://www.bogleheads.org/forum/viewtop ... 2#p1224012

I doubt if new polls would be much different.
JW
by JW-Retired
Sat Oct 14, 2017 5:38 pm
Forum: Investing - Help with Personal Investments
Topic: First time investing - Invest now or wait?
Replies: 14
Views: 1043

Re: First time investing - Invest now or wait?

401k - 53k (contribution at max and employee matches 50%) Please let me know your thoughts. I would really appreciate if you can give me some advice :) Thank you. Advice: the $53k sitting there in 401k cash seems to be the main thing to worry about. I would just invest all at once at 70/30 in your ...
by JW-Retired
Fri Oct 13, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Intentionally Defective Grantor Trust to avoid estate tax limit?
Replies: 20
Views: 1660

Re: Trust to avoid estate tax limit?

Given the large size of the estate I take my previous comment back. Your Mom might be on the right track.
JW
by JW-Retired
Fri Oct 13, 2017 9:03 am
Forum: Investing - Theory, News & General
Topic: What's your asset allocation and why?
Replies: 160
Views: 13777

Re: What's your asset allocation and why?

60/40 because that's always been our target. We had been drifting up from that for a long time but just yesterday I really shocked myself! Actually sold SP-500 equities in the 401k to re-balance back close to 60/40. :shock:

I don't really know what came over me?
JW
PS: age 73
by JW-Retired
Fri Oct 13, 2017 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Intentionally Defective Grantor Trust to avoid estate tax limit?
Replies: 20
Views: 1660

Re: Trust to avoid estate tax limit?

Jack FFR1846 wrote:
Fri Oct 13, 2017 7:47 am
Trusts aren't cheap to set up and keep running.
Yes, and IMO the total lack of information on estate size from the OP is a pretty strong hint mom is being sold something she doesn't need.
JW
by JW-Retired
Thu Oct 12, 2017 8:12 am
Forum: Investing - Help with Personal Investments
Topic: Should I keep my Stocks?
Replies: 42
Views: 3639

Re: Should I keep my Stocks?

State Street S&P 500 Equity Index Expenses Per $1,000 Investment $0.10 Expense Date 06-01-2017 I don't see anything about front loads. I will dig deeper and see if I can figure that out. Here are the other available funds ER's that I am not invested in. Vanguard 2030 0.07% Vanguard 2035 0.07% MetWe...
by JW-Retired
Wed Oct 11, 2017 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Should I keep my Stocks?
Replies: 42
Views: 3639

Re: Should I keep my Stocks?

Questions: 1. How do I decide my AA? 2.What is a taxable account? Deciding your AA the Boglehead way always been a murky process to me. You do definitely want to have enough bonds in your portfolio that you won't freak out and sell stocks low if when the next financial crisis happens and your stock...
by JW-Retired
Tue Oct 10, 2017 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Rebalancing tax efficiently—and simply?
Replies: 7
Views: 730

Re: Rebalancing tax efficiently—and simply?

Background, if helpful: STAR SEP-IRA: 64% of my nestegg (NOT the fund in question) STAR taxable: 23% of my nestegg (the fund in question) Prime MMF: 13% of my nestegg I have no losses to harvest. I've made only 4 lump-sum purchases of the taxable STAR (2008, 09, 13 and early 16). Almost all my capi...
by JW-Retired
Tue Oct 10, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: What do you do with your empty inkjet cartridges?
Replies: 22
Views: 1500

Re: What do you do with your empty inkjet cartridges?

I've tried refilling our black inkjet cartridges at Costco several times now for a couple of different printers. Mostly the printing result from the refills was poor. So it's the trash now.
JW
by JW-Retired
Mon Oct 09, 2017 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Should I keep my Stocks?
Replies: 42
Views: 3639

Re: Should I keep my Stocks?

Now after focusing solely on Boglehead I see, and understand, the three fund strategy and its effectiveness. So yes, I am looking for specific suggestions on those three, or four, funds. Sorry to complicate things but we need more information to do this right. We shouldn't be looking at just one ac...
by JW-Retired
Sun Oct 08, 2017 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: SS Benefit checks?
Replies: 13
Views: 1766

Re: SS Benefit checks?

This is the Official calendar for when the SS payments are made depending on your birth date in the month. It will always be either the 2nd, 3rd, or 4th Wednesday of the month.
https://www.ssa.gov/pubs/EN-05-10031-2017.pdf
JW
by JW-Retired
Sun Oct 08, 2017 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: Should I keep my Stocks?
Replies: 42
Views: 3639

Re: Should I keep my Stocks?

Yes he had me in about 18 mutual funds. I'll be eternally grateful for finding this website while trying to understand the fees I was paying. Did you look at the Vanguard funds I chose? ( I do not pay for an advisor ) I have been seeing a lot of Bogleheads saying they put their money in VTSAX, VTIA...
by JW-Retired
Sun Oct 08, 2017 12:21 pm
Forum: Investing - Help with Personal Investments
Topic: Should I keep my Stocks?
Replies: 42
Views: 3639

Re: Should I keep my Stocks?

I am just trying to understand why EJ advisors recommend putting half of your money in mutual funds and half in individual equities. Maybe some can answer that as well. We see lots of EJ deserter portfolios but Individual equities are fairly unusual. It's probably just this particular adviser's twi...
by JW-Retired
Sat Oct 07, 2017 8:50 pm
Forum: Investing - Help with Personal Investments
Topic: I could use some advice on my IRA situation. Not sure what to do.
Replies: 15
Views: 1361

Re: I could use some advice on my IRA situation. Not sure what to do.

I funded my IRA with my inheritance money and not from my paychecks. (that doesn't matter in the slightest as long as your paycheck was enough to cover it) For years I’ve wanted to take this Traditional IRA and turn it into a Roth IRA. No matter how many times I think I understand what a backdoor r...
by JW-Retired
Sat Oct 07, 2017 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: 2M savings investment help
Replies: 37
Views: 4972

Re: 2M savings investment help

State : MA Tax rate : 28% and 5.15% (together, pull in about 350k annually) Age : 43 and 40 (she) At $350k gross income, I would think your tax bracket would definitely call for muni-bonds, especially since you said at some point you expect to be back up in the top bracket in a very few years. Actu...
by JW-Retired
Sat Oct 07, 2017 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Bogle-oriented financial advisor in my area
Replies: 13
Views: 1211

Re: Bogle-oriented financial advisor in my area

Of course since my employee 401K is with Fidelity I need to keep that there but I still have most of my money outside that. I guess what I have the most problem with is the thought of rebalancing. I feel like tax issues etc. may be more that I can deal with. There is really only one tax issue. If y...
by JW-Retired
Sat Oct 07, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Tradittional vs Roth?
Replies: 6
Views: 523

Re: Tradittional vs Roth?

I feel like I have a pretty substantial nest egg. It hit me that I will need to start paying taxes on withdrawal of 401/IRAs when the time comes. I am 60 and currently in the 28% bracket and still working but looking forward to semi-retirement soon. .......................... Should I be putting ev...
by JW-Retired
Sat Oct 07, 2017 9:59 am
Forum: Investing - Help with Personal Investments
Topic: Third time in my 32 year career I have been laid off
Replies: 87
Views: 10059

Re: Third time in my 32 year career I have been laid off

Questions: 1. Firecalc says I can retire on 60,000 a month for 30 years. Should I? I have not even considered retirement yet. I am thinking 62. You probably could. 4% of $1.6 million - $64K, plus rental income. Then in 10-15 years social security kicks in. Should you? Only you can figure that out. ...
by JW-Retired
Fri Oct 06, 2017 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA
Replies: 7
Views: 431

Re: Rollover IRA

Is it advisable to keep investments in a Rollover IRA? I would only be able to do non-deductible contributions as my income is past the limit. .............................................. I'm just trying to figure out if leaving over 100K in a rollover IRA invested in the VFORX fund without ever ...
by JW-Retired
Thu Oct 05, 2017 8:28 pm
Forum: Investing - Theory, News & General
Topic: Throwing Down with a Primerica Advisor
Replies: 45
Views: 3242

Re: Throwing Down with a Primerica Advisor

Hey all, Thanks for the feedback. For those concerned, there is literally not a thing she could say that would ever convince me to change investment strategies. Like Eva. 😜 I never mind discussing investing with people. I'm mostly just interested to see what kind of pitch she makes me and how she a...
by JW-Retired
Thu Oct 05, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: Trying to convince my sister not to use a financial advisor
Replies: 59
Views: 4020

Re: Trying to convince my sister not to use a financial advisor

celia wrote:
Thu Oct 05, 2017 5:49 pm
I'm pretty sure she will want to leave the advisor in the next bull market.
Bear market??
JW
by JW-Retired
Thu Oct 05, 2017 8:17 am
Forum: Investing - Theory, News & General
Topic: Throwing Down with a Primerica Advisor
Replies: 45
Views: 3242

Re: Throwing Down with a Primerica Advisor

Beyond being equipped with those two figures, are there are particular statistics you would arm yourself with? If you can't say no without arming yourself with statistics to convince her you are right and she is wrong, then IMO you are doomed. You better cancel the meeting. Welcome to the Forum! JW
by JW-Retired
Wed Oct 04, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: RMD Question
Replies: 30
Views: 2686

Re: RMD Question

OK JW you have told me I am wrong but I did NOT find the answer in IRS pub 590. I looked before I posted and I just read it again in depth. I have read all the data in IRS Pub 590 and cannot find this detail. Everything I see says wait until you are 70.5 to take any distributions to make them count...
by JW-Retired
Wed Oct 04, 2017 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement contributions - account options after Roth & Employer Plan?
Replies: 12
Views: 527

Re: Retirement contributions - account options after Roth & Employer Plan?

AA3, A taxable account is still a pretty good way to save for retirement. Qualified dividends and realized capital gains in a taxable account are taxed at a lower rate than tax deferred plan withdrawals. You can tax loss harvest in down markets. If you have a low earnings year you can realize cap ga...