Search found 1539 matches

by LeeMKE
Sat Aug 19, 2017 11:06 am
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 72
Views: 5969

Re: How I use I-ORP, and who shouldn't

Freebeer wrote in red below: Peter Foley wrote: ↑Fri Aug 18, 2017 2:57 pm munemaker wrote: ...converting $50K per year for two years provided a larger estate than converting $20K for five years. This is the effect of rate of return in the Roth account which I set to be higher than that of a tax def...
by LeeMKE
Sat Aug 19, 2017 12:39 am
Forum: Personal Finance (Not Investing)
Topic: Tax deferred options
Replies: 3
Views: 338

Re: Tax deferred options

I hate to be the bearer of bad news, but I don't know of any reasonable way to shelter the windfall.

For the side job, can you open a Solo 401K?
by LeeMKE
Fri Aug 18, 2017 9:21 pm
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 72
Views: 5969

Re: How I use I-ORP, and who shouldn't

Yes. Any remainder in my estate will go to charity. But my planning scenario is that I spend the last nickel the day after I die. First priority is taking care of myself and DH. If I die before DH, most or all he gets will be in ROTH, with charities getting the IRA. If I survive DH, and it looks lik...
by LeeMKE
Fri Aug 18, 2017 12:12 am
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 72
Views: 5969

Re: How I use I-ORP, and who shouldn't

What if someone's estate is under $5M now, but i-ORP projects it will be over $5M at the end of life? My guess is that I-ORP isn't set up to do estate planning of this type. Trusts, charitable gifts and life insurance aren't part of this analysis, so you might need to look elsewhere for estate plan...
by LeeMKE
Sat Aug 12, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 5342

Re: Will vs Living Trust

I'm a big fan of Nolo Press. The DIY legal is attractive, but they also are frank in telling you when your situation needs specific legal help they can't adequately cover in a book. They cover all the big legal issues anyone will face, and I've found them very helpful. Pre-Nup, Divorce, buy house, s...
by LeeMKE
Fri Aug 11, 2017 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup - Major Life Event
Replies: 15
Views: 1842

Re: Portfolio Checkup - Major Life Event

The Nolo Press book on Pre-Nups is an excellent exercise for a couple. It prompts you to talk over issues that might not have come up so far. It was a very good exercise for us, in a second marriage when a pre-nup was necessary. You may not decide to execute the contract, but knowing each other's th...
by LeeMKE
Thu Aug 10, 2017 11:53 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup - Major Life Event
Replies: 15
Views: 1842

Re: Portfolio Checkup - Major Life Event

+1 aristotelian A pre-nup isn't needed IMHO at this point. You have more assets, but with your current plan, that difference will fade fast in the early years of your marriage, and the two of you are well matched for future earnings at the moment. If you are discussing having children, she might nee...
by LeeMKE
Thu Aug 10, 2017 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 5342

Re: Will vs Living Trust

Here's how to save money for the OP: Buy the pertinent books from Nolo Press, the DIY legal publishers. Work through their questions and narrow down your focus for the meeting with an estate attorney, (NOT a young attorney who is working trusts (to a trust dog, every bone needs a trust)). You'll be ...
by LeeMKE
Mon Aug 07, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: When does renting make sense
Replies: 112
Views: 8630

Re: When does renting make sense

+1 KlangFool A house is not an investment, it is an expense. Most folks josh themselves into thinking they are making money when they sell it for more than they paid. But they also conveniently ignore the costs of buying and selling, and all the maintenance they paid for and/or performed. If you tal...
by LeeMKE
Mon Aug 07, 2017 9:54 pm
Forum: Local Chapters and Bogleheads Community
Topic: Wisconsin - Milwaukee meetings - Master Thread
Replies: 26
Views: 4583

Re: Wisconsin - Milwaukee meetings - Master Thread

TWO meetings this month! . :confused . :D . :) . 8-) . :oops: . :) . :shock: . :happy . :D . :moneybag Bogleheads I - Original lunchtime group, focused on retirement planning Tuesday September 5 at noon We meet at Bollywood Grill 1038 N Jackson St, Milwaukee, WI 53202 Laura Ricci is our speaker, sp...
by LeeMKE
Fri Jul 21, 2017 12:14 am
Forum: Personal Finance (Not Investing)
Topic: simplicity vs chasing bonuses
Replies: 29
Views: 2414

Re: simplicity vs chasing bonuses

I took up travel hacking almost 2 years ago, and a big part is chasing and tracking credit card bonuses. At first, it was overwhelming, learning how these things work, and being somewhat frazzled by the complexity of it all. I don't do any of the really aggressive stuff like "manufactured spend...
by LeeMKE
Tue Jul 18, 2017 9:58 am
Forum: Investing - Theory, News & General
Topic: Research Report: Post Retirement Needs and Risks
Replies: 4
Views: 931

Re: Research Report: Post Retirement Needs and Risks

Our work here is not done. Hard to believe so many are flying blind. IMHO so many have ill prepared for retirement, and are afraid of knowing how bad it is. So they just launch (or are pushed- by illness or layoff) and figure they'll figure it out later, like they think their parents did. Note that ...
by LeeMKE
Mon Jul 17, 2017 4:31 pm
Forum: Investing - Theory, News & General
Topic: Research Report: Post Retirement Needs and Risks
Replies: 4
Views: 931

Research Report: Post Retirement Needs and Risks

From the Society of Actuaries, https://www.soa.org/research/topics/aging-ret-topic-landing/ This page has links to a variety of topics they have researched on retirement and aging. https://www.soa.org/research/topics/research-post-retirement-needs-and-risks/#risksurvey The latest research about reti...
by LeeMKE
Wed Jul 12, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: ORP treatment of Social Security after 2035
Replies: 7
Views: 620

Re: ORP treatment of Social Security after 2035

by truenorth418 » Wed Jul 12, 2017 8:43 am I am 53 so still a long way from making the decision. In the meantime I treat SS (and my small pension also waiting for me down the road) as "reinforcements" or basically insurance against catastrophe I agree. I left Social Security out of my cal...
by LeeMKE
Wed Jul 12, 2017 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Making the Leap to Self-Employment
Replies: 16
Views: 1680

Re: Making the Leap to Self-Employment

Agree with everything said so far. In my case, I listed all my annual expenses and set up a sinking fund for the big ticket stuff like insurance, taxes and retirement. Every dollar that came in got split to contribute to the sinking fund before anything could be spent on lifestyle or business expens...
by LeeMKE
Tue Jul 11, 2017 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Working as a freelance consultant: Sole proprietorship, SCorp or LLC?
Replies: 14
Views: 1000

Re: Working as a freelance consultant: Sole proprietorship, SCorp or LLC?

LLC offers some protection of your personal assets over Sole Proprietorship, and in most states is the most popular for small enterprises. SCorp always seemed to me as overkill for a middle class consultant. The cost of the CPA for all the filings for SCorp was too high for my tastes, the benefits t...
by LeeMKE
Tue Jul 11, 2017 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: ORP treatment of Social Security after 2035
Replies: 7
Views: 620

Re: ORP treatment of Social Security after 2035

I agree the approach taken in the I-ORP worksheet is the one I prefer. Better safe than sorry. However, I'm not enthused about the idea of adding a toggle to be able to control this manually and keep SS level. Here's why: I just finished spending months studying to come up with our withdrawal strate...
by LeeMKE
Tue Jul 11, 2017 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 35
Views: 3094

Re: Jewelry insurance. Is it ever worth it?

I carried riders on one ring and two pieces of fine art. But as the insurance prices rose, I decided it wasn't worth covering. 30+ years later, no regrets.
by LeeMKE
Thu Jul 06, 2017 11:31 pm
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 12405

Re: How did you handle the costs of your child's wedding?

One more idea I liked.

The couple were offered $XX toward their wedding expenses OR $XX+50% if they paid for their own wedding/eloped and wanted to start life with a nest egg / home down payment.

Seemed like a very Boglehead idea to me.
by LeeMKE
Thu Jul 06, 2017 11:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help With Fund Choices At Fidelity In Roth IRA
Replies: 16
Views: 1049

Re: Help With Fund Choices At Fidelity In Roth IRA

When I started out with the Boglehead portfolio, I used FFNOX until my account balance was over $50,000. Then I rolled out to the three fund portfolio to save a bit of money. IMHO you take some risk of paying a higher ER if you move too soon to the individual funds, because a market dip could put yo...
by LeeMKE
Thu Jul 06, 2017 10:48 pm
Forum: Investing - Help with Personal Investments
Topic: Dual Military Physician Couple Portfolio
Replies: 11
Views: 1480

Re: Dual Military Physician Couple Portfolio

You've got a good start on your retirement savings. I'm not able to decipher the funds you are in, but others here may be familiar with them enough to comment. As for that pile of cash, you can do better. Emergency fund - liquid and safe is the rule there. That USAA account may be the best available...
by LeeMKE
Thu Jul 06, 2017 10:27 pm
Forum: Investing - Help with Personal Investments
Topic: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?
Replies: 26
Views: 1772

Re: Rental Sold, High Interest SL's Paid Off, Now What Do I Attack?

Congratulations on your progress! As long as the contributions to your retirement accounts are AT LEAST 15% of your gross income, go ahead the pay down the loans. 1) Retirement plans are use it or lose it. You can't make up lost time later with a tax deferral. 2) You'll match the interest rate of yo...
by LeeMKE
Tue Jul 04, 2017 1:42 am
Forum: Investing - Theory, News & General
Topic: A plan for retirement withdrawal--opinions, please
Replies: 20
Views: 2069

Re: A plan for retirement withdrawal--opinions, please

My plan is just a few years ahead of you. Our portfolio is organized 60/40 with 2-3 years of estimated w/d in a CD ladder. Actual w/d will be calculated each year by using 3 sources to create a range for w/d, and choosing our number within that range: -- I-ORP.com (long form) which you may want to i...
by LeeMKE
Mon Jun 19, 2017 11:49 pm
Forum: Personal Finance (Not Investing)
Topic: Re-balance Utility - New Version (v2)
Replies: 17
Views: 1778

Re: Re-balance Utility

I love trying out new tools. Unfortunately, my version of Excel won't run the ActiveX code in the spreadsheet, so I'm out of luck (Excel for Mac 2011)

Looks interesting. I just can't get it to run my data.
by LeeMKE
Sun Jun 18, 2017 11:14 pm
Forum: Investing - Help with Personal Investments
Topic: Helping my parents with their retirement
Replies: 31
Views: 4128

Re: Helping my parents with their retirement

I would suggest you start a new thread, with ALL the information requested for this type of post. Many will not read through all the intermediate posts to get enough information to provide you the help sought, and others may jump right in without the complete picture because they won't read all the ...
by LeeMKE
Fri Jun 16, 2017 8:14 pm
Forum: Investing - Help with Personal Investments
Topic: Drawdown during retirement
Replies: 15
Views: 2153

Re: Drawdown during retirement

David Jay wrote: For spouses, the normal suggestion is for the higher earning spouse to delay until age 70 because it is the higher benefit that will become the survivor's benefit for either surviving spouse. Think of it as longevity insurance for the surviving spouse. To minimize tax rate after RM...
by LeeMKE
Wed Jun 14, 2017 9:10 pm
Forum: Investing - Help with Personal Investments
Topic: Drawdown during retirement
Replies: 15
Views: 2153

Re: Drawdown during retirement

+1 chuckb84

I-ORP will be a big help to you.
by LeeMKE
Mon Jun 12, 2017 8:59 pm
Forum: Investing - Help with Personal Investments
Topic: Should equals take SS at FRA or Early to preserve portfolio?
Replies: 30
Views: 2786

Re: Should equals take SS at FRA or Early to preserve portfolio?

To answer the question of whether to draw down your portfolio or take SS early, run your situation on I-ORP http://www.I-ORP.com Be sure to select the LONG FORM (link at the bottom of the home page). Allow the tool to calculate conversion to ROTH for you (assuming you have some assets in an IRA or 4...
by LeeMKE
Mon Jun 12, 2017 6:47 pm
Forum: Investing - Theory, News & General
Topic: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]
Replies: 376
Views: 53664

Re: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]

I want to have a variable WD rate to buffer both of those too much/too little spending rates, including a longevity factor, expecting to both adapt and to spend down the retirement assets. Me too. McClung's approach calls for an annual adjustment for your withdrawals, so it will avoid this "Me...
by LeeMKE
Sun Jun 11, 2017 9:49 am
Forum: Investing - Theory, News & General
Topic: Troublesome and questionable change in I-ORP Social Security Calculations
Replies: 16
Views: 1415

Re: Troublesome and questionable change in I-ORP Social Security Calculations

LeeMKE wrote: I side with the author (of I-Orp) on the issue of Social Security. Of the two options, I'd rather my calculations for that item are conservative and based on current fact, rather than presume somebody somewhere will implement a rescue. Heck, this problem has been known for going on 50...
by LeeMKE
Sun Jun 11, 2017 9:20 am
Forum: Investing - Theory, News & General
Topic: Troublesome and questionable change in I-ORP Social Security Calculations
Replies: 16
Views: 1415

Re: Troublesome and questionable change in I-ORP Social Security Calculations

I side with the author (of I-Orp) on the issue of Social Security. Of the two options, I'd rather my calculations for that item are conservative and based on current fact, rather than presume somebody somewhere will implement a rescue. Heck, this problem has been known for going on 50 years, and not...
by LeeMKE
Sat Jun 10, 2017 2:37 pm
Forum: Investing - Theory, News & General
Topic: Retirees: What are you doing about withdrawing?
Replies: 31
Views: 4438

Re: Retirees: What are you doing about withdrawing?

We have one (or two) more years of contributions to the portfolio and then are launching into withdrawals. I setup a study program for myself to tune up our strategy in retirement. From my ISP: REBALANCING In 2017 we will rebalance in June and December. At retirement, we will switch to rebalancing a...
by LeeMKE
Sat Jun 10, 2017 1:39 pm
Forum: Investing - Theory, News & General
Topic: Troublesome and questionable change in I-ORP Social Security Calculations
Replies: 16
Views: 1415

Re: Troublesome and questionable change in I-ORP Social Security Calculations

"05/01/2017: Social Security OASI Depletion in 2035 The Social Security and Medicare Boards of Trustees estimates that Social Security's Old Age and Survivors Insurance (OASI) Trust Fund has a projected reserve depletion date of 2035. At that time, OASI income would be sufficient to pay 77 per...
by LeeMKE
Sat Jun 10, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]
Replies: 376
Views: 53664

Re: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]

I bought the hardcopy of Living Off Your Money and marked it up a good deal. Unlike most finance books I buy, this one will stay on our shelf. I'd recommend it for people planning the shift from accumulation to withdrawals. It is well organized and includes compelling research that all these pages o...
by LeeMKE
Thu Jun 08, 2017 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 323
Views: 121452

Re: Retiree Portfolio Model

The model requires the user to keep the taxable account balance positive (if not using auto withdrawals) so review what is going into Taxable to make sure it's adequate to cover expenses, taxes and other withdrawals. Yup! That fixed my problem. I never found the"General Settings: Use auto with...
by LeeMKE
Thu Jun 08, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 323
Views: 121452

Re: Retiree Portfolio Model

I'm unable to find the source of my error. In setup, no matter what value I enter, the Ending Balances for Taxable is a negative number (up to -$500,000, but never less than -$450,000) Setup / 2. Portfolio Balances / Taxable I've compared my entries with the original file, but don't find where I wen...
by LeeMKE
Sun Jun 04, 2017 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Do I need umbrella insurance?
Replies: 17
Views: 2029

Re: Do I need umbrella insurance?

+1 Daryl
by LeeMKE
Sun Jun 04, 2017 1:45 am
Forum: Personal Finance (Not Investing)
Topic: Do I need umbrella insurance?
Replies: 17
Views: 2029

Re: Do I need umbrella insurance?

Teenagers who drive are rolling lawsuit traps.

Definitely have umbrella coverage until they are out on their own.
by LeeMKE
Sun Jun 04, 2017 1:40 am
Forum: Personal Finance (Not Investing)
Topic: When to take Social Security, SSAnalyze, and the TVM?
Replies: 16
Views: 1977

Re: When to take Social Security, SSAnalyze, and the TVM?

Try the Long Form tool at http://www.I-ORP.com It does exactly this calculation. Whether to take SS early or late, when you will otherwise draw from savings while waiting for SS. I was planning a very different scenario based on the SS analyzers I tried, but the heavy withdrawals gave me pause, so I...
by LeeMKE
Sun Jun 04, 2017 1:08 am
Forum: Personal Finance (Not Investing)
Topic: What Will Home Care Cost?
Replies: 25
Views: 2651

Re: What Will Home Care Cost?

I was laid up when I broke my leg last year. We needed someone to be with me 7 AM to 3 PM each day. Agency support in my area was over $25/hour. Agencies are ideal when the patient is living alone and any and all absences of the staff MUST be covered. I didn't need several shifts of help, and I was ...
by LeeMKE
Sat Jun 03, 2017 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Early Retirement Approaches (forced) - review my situation?
Replies: 42
Views: 7213

Re: Early Retirement Approaches (forced) - review my situation?

I-Orp.com You might benefit from this tool. The LONG FORM will help with figuring out whether/when/how much to convert to ROTH. It may also provide some illumination on your taxable holdings. Your options are several, and you have the luxury of simply optimizing, rather than being dependent on doing...
by LeeMKE
Fri Jun 02, 2017 11:40 am
Forum: Investing - Theory, News & General
Topic: How do you fight the urge to micromanage?
Replies: 57
Views: 4518

Re: How do you fight the urge to micromanage?

So feel free to micromanage the account but understand that you are actively reducing your return by doing so. You would be far better off to change your password to a series of unrelated characters written on a paper, then burning the paper. I'm Lee and I'm addicted to tinkering. I have learned to...
by LeeMKE
Fri Jun 02, 2017 11:18 am
Forum: Investing - Help with Personal Investments
Topic: Ex Employer Large Stock Position and Tax Implications
Replies: 10
Views: 915

Re: Ex Employer Large Stock Position and Tax Implications

+1 all

Sell high. Don't have too much wealth concentrated in a single stock.
by LeeMKE
Wed May 31, 2017 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: 401 k Funds
Replies: 9
Views: 556

Re: 401 k Funds

1.) Are there any funds in the list below (other than top 3 in terms of expenses) where it would be justified to pay extra expenses? No. 2.) Off the list below there are a few funds which morning star rates as either 4/5 star funds or Gold. Eg: Dodge & Cox Stock Fund, Columbia Contrarian Fund, ...
by LeeMKE
Tue May 30, 2017 10:13 pm
Forum: Investing - Help with Personal Investments
Topic: Early Retirement Approaches (forced) - review my situation?
Replies: 42
Views: 7213

Re: Early Retirement Approaches (forced) - review my situation?

I'm looking but not finding anything you've overlooked or miscalculated. Good work!
by LeeMKE
Fri May 26, 2017 11:42 pm
Forum: Investing - Help with Personal Investments
Topic: Pay Down 401k Loan vs Mega Backdoor Roth
Replies: 13
Views: 1428

Re: Pay Down 401k Loan vs Mega Backdoor Roth

401K loans are immediately due and payable upon lots of things out of your control:
loss of job,
change of 401K offering by employer, etc.

I'd pay off the 401K loan and not mess around with that source of funds.
by LeeMKE
Fri May 26, 2017 11:30 pm
Forum: Investing - Help with Personal Investments
Topic: What happens after you max out your Roth IRA Limit?
Replies: 6
Views: 1351

Re: What happens after you max out your Roth IRA Limit?

So, if I understand this correctly, the 403b and the Solo 401K are basically the same thing. If so I would prefer the Solo 401K over the other because I do not know how long I'll be teaching there etc. Also, I'll always be filing a schedule C. I would also prefer to stay with Vanguard. Sorta but no...
by LeeMKE
Wed May 24, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Sanity check on home purchase numbers
Replies: 6
Views: 1178

Re: Sanity check on home purchase numbers

I used to do this for a living. Your numbers and rational look good to me. Good balance of risk all the way around: enough equity, but not draining your cash. two incomes to buffer the risk of a job loss or disability. old enough to know what you are getting into, young enough to have time to pay th...