Search found 346 matches

by MichDad
Thu Feb 15, 2018 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge -- Please Help Me Identify Low Expense Funds
Replies: 2
Views: 162

Merrill Edge -- Please Help Me Identify Low Expense Funds

I'm about to move two Roth asset accounts from Vanguard and Fidelity to Merrill Edge's self-directed platform in part to take advantage of a $900 per account promotion (one for me and one for my wife). I'd appreciate recommendations of very low expense ETFs or mutual funds available at ME that seek ...
by MichDad
Tue Feb 13, 2018 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge - Platinum Honors
Replies: 31
Views: 3082

Re: Merrill Edge - Platinum Honors

Merrill has a great setup if you're fine to use ETFs which I think a significant amount do anyway. With $50k combined balance (which includes BofA accounts) you get free trades per month. At $100k, you are in line to get the free trades and also a great credit card (after 90 days) with BofA at 2.62...
by MichDad
Thu Feb 08, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: HSA...let me get this straight
Replies: 36
Views: 3741

Re: HSA...let me get this straight

I keep one shoe box for each year. In it, I'm putting all of my health insurance company's EOBs, health provider and pharmacy invoices, and credit card receipts to the extent I have them and can remember to save them. Don't forget about using HSA monies to pay for Long Term Care Insurance premiums. ...
by MichDad
Tue Feb 06, 2018 4:23 pm
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

I believe that is true. If it were permitted, it would be big news.

MichDad
by MichDad
Tue Jan 23, 2018 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6067

Re: Am I being greedy?

I have a COLAed pension also, and my husband has a partially-COLAed one. It is important to acknowledge that it is relatively easy to maintain a very high equity exposure, even as you get close to retirement, when you will have SS and a significant COLAed pensions in retirement. This is especially ...
by MichDad
Tue Jan 23, 2018 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6067

Re: Am I being greedy?

I have been effectively 100% in stocks since I started in 1987, so I obviously don't have any problem with the concept. This statement though does give me pause: With that said, I can't help but always wanting to reach the next milestone. I have a sense that this "want" will never go away and that ...
by MichDad
Wed Dec 20, 2017 1:49 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

I recently received an email from Kim Weaver, Director of External Affairs at the Federal Retirement Thrift Investment Board, with the following text: "The TSP does not require a legislative change to allow different withdrawals from traditional TSP vs. the Roth TSP. A legislative change is not need...
by MichDad
Tue Nov 28, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: How to best fund a second home from 401K/IRA??
Replies: 11
Views: 733

Re: How to best fund a second home from 401K/IRA??

Diogenes, I'm close to retirement and am thinking of doing something similar. We're just starting to look at properties and won't pull the trigger until we find exactly what we want. I've also been considering our payment options for the new foreign property. I first want to explore obtaining a mort...
by MichDad
Tue Nov 28, 2017 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Re: Social Security Calculation Question

rkhusky wrote:
Mon Nov 27, 2017 2:56 pm
At 70, the cost will be about $180/yr.
Thank you, rkhusky. That is the information I was seeking when I began this thread.

MichDad
by MichDad
Mon Nov 27, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Re: Social Security Calculation Question

Admiral, diy60, and rkhusky, As one former President was fond of saying, "Let me be perfectly clear." Unless the sky falls or a black swan swims into me, I'll begin to collect my Social Security benefits when I turn 70. The purpose of my original question was only to see how much of a penalty I'll s...
by MichDad
Mon Nov 27, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Re: Social Security Calculation Question

Are these numbers for taking it at 62? Because they seem to be quite low if you are taking it at your FRA. It should be close to or more than about 3000 per month at FRA when you have had maximal wages. I didn't see a clear statement on this. It looked to me, since I'm now 62 years old and eligible...
by MichDad
Mon Nov 27, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Re: Social Security Calculation Question

Looks like the SS online Anypia calculator should be pretty quick to use. You could just paste in the same big number over the maximum (e.g. the same $127,200) for all the inputs (case 1), and then for case 2 change the 199x year to your actual 72% of max earnings. https://www.ssa.gov/planners/reti...
by MichDad
Mon Nov 27, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Re: Social Security Calculation Question

You don't have to guess at anything. Go to www.ssa.gov and login and see what SSA has for you. I thought the problem with using my personal benefits statement is that the SSA assumes I'll keep working until I reach my full retirement age. The problem with that is it will substitute my one year of 7...
by MichDad
Mon Nov 27, 2017 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1653

Social Security Calculation Question

I'd appreciate help with my Social Security benefits calculation. When I retire next year, I'll likely have 34 years of having earned more than the maximum Social Security wage base amount. For example, for this year, I'll earn greater than $127,200. My only year at less than the maximum Social Secu...
by MichDad
Fri Nov 24, 2017 8:27 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 24
Views: 1342

Re: Should I Pay Off My Mortgage When I Retire?

Personally, I'd pay it off and be done with it. But more importantly, what does your wife think? I was waiting for that question. She lets me handle all the financial stuff so she'll quite willingly defer to me. However, if it were her decision with no input from me, I'm pretty sure she'd want to p...
by MichDad
Fri Nov 24, 2017 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 24
Views: 1342

Re: Should I Pay Off My Mortgage When I Retire?

How much cash would you have left in savings account, if you did choose to withdraw and pay off house? The cash account is probably yielding less than after-tax cost of mortgage. I’d pay it off, if I had enough cash in account to meet needs. It would probably reduce my cash on hand by about 70 perc...
by MichDad
Fri Nov 24, 2017 7:23 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 24
Views: 1342

Re: Should I Pay Off My Mortgage When I Retire?

oldcomputerguy wrote:
Fri Nov 24, 2017 6:56 am

Will you be making the payments with IRA draws, or from some other source?
If I pay it off in one shot, I'll simply withdraw cash from a bank account. I will not be withdrawing that money from my TSP or IRA accounts.

MichDad
by MichDad
Fri Nov 24, 2017 5:21 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 24
Views: 1342

Should I Pay Off My Mortgage When I Retire?

My wife is retired. When I retire next March (at age 62), I’ll have a remaining mortgage balance of approximately $22,000 that will be paid off in March 2019 if I make the regularly scheduled payments. The interest rate is 2.49 percent on the five year loan. If I wanted, I could easily pay off that ...
by MichDad
Fri Nov 24, 2017 1:27 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

Nearing Destination and Blues, You and others like you should be particularly interested in seeing the FRTIB move on these issues. Earl, both my wife's two 401(k) plans allow her to invest her Roth and regular contributions differently at the same time. I'd like to do the same with my TSP account. M...
by MichDad
Thu Nov 23, 2017 9:40 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

MichDad, until (if?) that happens, now that you can make more than one partial withdrawal from the TSP in your lifetime, could you withdraw from your TSP all but a token amount ($1,000?) into traditional and Roth IRAs, then transfer back in as much traditional funds as you can from your traditional...
by MichDad
Thu Nov 23, 2017 5:35 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

In light of the passage of the TSP Modernization Act, here is what I view as the three most serious remaining flaws in the TSP versus most large 401(k) plans. Numbers 2 and 3 below are obviously related. 1. The inability to make in-plan Roth conversions within the TSP; 2. The inability to hold Roth ...
by MichDad
Thu Nov 23, 2017 1:43 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: TSP Modernization Act Signed Into Law

It's good to know that there are legal provisions for and precedents of in-plan conversions. Now, all I want is for the TSP to implement something similar. I would like pay taxes on in-plan conversions within TSP, keep my G fund, and stop bothering with the CD rates. I hope this will become possibl...
by MichDad
Wed Nov 22, 2017 3:37 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: TSP Modernization Act Signed Into Law

Next we we need to be able to make conversions from Traditional TSP to Roth TSP. Do you know if regular 401(k) plans allow in-plan Roth conversions? Victoria My wife has two separate 401(k) plans with two different employers. One plan is administered by Fidelity and the other by Schwab. In both ins...
by MichDad
Sun Nov 19, 2017 2:59 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 93
Views: 11880

Re: Roll Call for the Retirement Class of 2018!

Miriam,

I've decided to advance my retirement date by one month. It's now set for March 31, 2018; only 131 days away and counting.

MichDad
by MichDad
Fri Nov 03, 2017 2:23 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2271

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

Let's say a FERS employee is 60 years old and eligible to retire today. She has 40 years of service (including unused sick leave) and an average high three of $150,000. Her FERS pension will be $60,000 per year. If the only difference in this hypothetical is that the FERS employee is 62 years old (a...
by MichDad
Thu Nov 02, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2271

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

The estimate of $10,000 extra per year by waiting to age 62 to begin collecting on a FERS pension seems very high to me. Please check that estimate again. I'll have about 37 years of service when I retire next year (including unused sick leave). My FERS bonus will be "only" about $6,500 per year. Mi...
by MichDad
Thu Nov 02, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2271

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

Let me raise two points that I didn't see addressed by previous posters. 1. Do the sums provided for DW's FERS pension include the survivor benefits for DH? If not, those numbers will be ten percent lower and that could make a difference in your planning. 2. I see you've listed $200,000 in savings, ...
by MichDad
Tue Oct 24, 2017 4:36 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 9304

Re: Is it ok to have 100% stocks, 15 years+

I'm not recommending that anyone replicate what I've done. I'm simply reporting on it. In the mid-1980s, as I was thinking about saving for retirement, I read investment newsletters from T. Rowe Price that compared how various asset classes performed over time. I saw that stock portfolios beat other...
by MichDad
Wed Aug 16, 2017 2:10 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 93
Views: 11880

Re: Roll Call for the Retirement Class of 2018!

My countdown calendar app tells me I'm 261 days away. I'll be 62 when I retire. I can't wait to start spending the money I've been socking away for this purpose since 1987. The CountDown Calendar!! But wait - what are you going to spend all that money on ?? :mrgreen: We're planning lots of internat...
by MichDad
Fri Aug 11, 2017 6:16 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 93
Views: 11880

Re: Roll Call for the Retirement Class of 2018!

My wife is already retired. I'm targeting April 30, 2018 as my retirement date. I might move it up if I'm offered cash to leave earlier. I doubt I'd move it back. I'd like to contribute the maximum $24,000 to my Roth TSP account plus $13,000 to our Roth IRAs before I retire. If those limits are incr...
by MichDad
Thu Aug 10, 2017 12:54 pm
Forum: Investing - Theory, News & General
Topic: What Percentage CASH are you?
Replies: 90
Views: 7572

Re: What Percentage CASH are you?

I'm 62 years old and eligible to retire with a pension. We've got 33 percent of our entire retirement portfolio in the TSP's G Fund, which is pretty close to cash. We also have about 1 percent of our entire retirement portfolio in a "high" interest money market account. We hold no traditional bonds ...
by MichDad
Thu Aug 03, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 28441

Re: A poll: How much money do you need to retire?

I'm 62 and will retire before I reach 63. My wife is already retired. I want to have at least $2.5 million in our retirement accounts before I retire. This is in addition to my inflation-adjusted pension for which I've already qualified but have not begun collecting. We presently have over $2.8 mill...
by MichDad
Tue Jul 25, 2017 7:21 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

For others asking for the ability to do Roth conversions, do any 401ks actually allow this? I'm pretty sure my private 401k (at VG) did not. Obviously once you are no longer employed there you could separately withdraw so you could withdraw from traditional and convert to Roth IRA but I don't think...
by MichDad
Fri Jun 23, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 1933

Re: Another Roth vs. Traditional debate, but for high-income Feds

I’ve been contributing to the TSP since 1987. My total TSP balance is now over $1.7 million. From 1987 to 2012, I had no choice but to invest into the regular TSP. Beginning in May 2012, I started investing only into the Roth TSP. [Of course, the government match has continued to go into the regular...
by MichDad
Thu Jun 22, 2017 9:29 am
Forum: Investing - Help with Personal Investments
Topic: fed employees & all the eggs in the TSP basket
Replies: 22
Views: 3018

Re: fed employees & all the eggs in the TSP basket

MichDad You said you wanted to move all but $200 from TSP -- note that you need to leave more than that (I think it needs to be at least $3k) or else they will close your account and send you a check for your balance. Review minimum balances on the TSP site. ND, Here's a quote from page 3 of the TS...
by MichDad
Wed Jun 21, 2017 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: fed employees & all the eggs in the TSP basket
Replies: 22
Views: 3018

Re: fed employees & all the eggs in the TSP basket

FD, I’ll also be retiring from federal employment in 2018 at age 62. I’ve invested in the TSP since it started in 1987. Except for the first year or two when we were required to hold all or some assets in the G Fund, I invested only into the C, I, and S Funds (never the G, F, or L Funds). However, i...
by MichDad
Tue Jun 20, 2017 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Federal employees considering early out - buyout?
Replies: 44
Views: 5750

Re: Federal employees considering early out - buyout?

Assuming no portion of the $25,000 buy-out payment is subject to Social Security taxes, the recipient will save an additional $1,550. $25,000 * 6.2% = $1,550 Assuming a highly paid federal employee works 251 days in a year (365 - 104 weekend days - 10 holidays), he or she can earn about $645 per day...
by MichDad
Mon Jun 19, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Federal employees considering early out - buyout?
Replies: 44
Views: 5750

Re: Federal employees considering early out - buyout?

A $25,000 buy-out is the equivalent of eight weeks' gross salary (four bi-weekly pay periods) of a highly-paid federal employee.

$161,900/52 = $3113.46

$25,000/$3113.46 = 8.03 weeks

MichDad
by MichDad
Thu May 25, 2017 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: A gem Livesoft uncovered
Replies: 64
Views: 12202

Re: A gem Livesoft uncovered

I think our withdrawal rate when I retire at age 62.5 will be about 4.25% until we begin to collect Social Security when I turn 70. At that point, I think our withdrawal rate will fall to about 3%. Is there a table that addresses asset allocations for that kind of scenario?

MichDad
by MichDad
Mon Apr 10, 2017 8:52 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

Let me begin by stating that I’m grateful the Federal Retirement Thrift Investment Board is finally moving towards liberalizing the TSP’s restrictive withdrawal rules. That said, I don’t think this proposed liberalization move goes far enough. By the time I retire next year, about 10 percent of my T...
by MichDad
Fri Mar 24, 2017 9:23 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

MnD, Here's how I've been thinking about my TSP account and Required Minimum Distributions. I've got about $1.5 million in the regular TSP. That represents about 25 years of lowering my taxable income as I made those investments. I've been investing into the Roth TSP since that option was first made...
by MichDad
Mon Mar 20, 2017 11:22 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 39831

Re: Improving the TSP [for current participants]

I like the TSP just the way it is. Kathy, Unlike most 401(k) plans, the TSP does not permit participants to convert any regular TSP assets to Roth TSP assets. Similarly the TSP does not permit participants to hold their regular TSP assets in different funds and in different proportions than their R...
by MichDad
Fri Mar 17, 2017 8:41 am
Forum: Investing - Help with Personal Investments
Topic: TSP withdrawal
Replies: 17
Views: 2333

Re: TSP withdrawal

MichDad, what does "established" mean? Like how I set up contribution allocation? I'm not contributing any more since I've left the federal government but I'm considering transferring Vanguard IRA to TSP. I think my question is also how you're going to do step 2. I'm about 20 years from retirement....
by MichDad
Thu Mar 16, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: TSP withdrawal
Replies: 17
Views: 2333

Re: TSP withdrawal

Upon withdrawal, how does TSP determine the proportion of traditional vs. Roth? Is it based on contributions from way back when? Until you modify the percentages of your TSP holdings, assets in your TSP account will be held in the proportions you established. The same applies to your TSP contributi...
by MichDad
Thu Mar 16, 2017 12:39 pm
Forum: Investing - Help with Personal Investments
Topic: TSP withdrawal
Replies: 17
Views: 2333

Re: TSP withdrawal

What are the purposes of the 1st and 3rd steps? I'll make step one so I'll know exactly how much I have in my TSP account the moment I make the transfer to Vanguard. If all TSP assets are not in the G Fund, the total account balance could decrease during the few days it takes to make the transfer. ...
by MichDad
Wed Mar 15, 2017 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: TSP interfund transfer
Replies: 14
Views: 1252

Re: TSP interfund transfer

I have L2040 from the default when I joined (first pay period before I had a chance to allocate my own). Once I got access, I contributed Roth to I. Are you saying now I have both L2040 and I in traditional and both L2040 and I in Roth? It's messed up. So basically, I can only have the same funds a...
by MichDad
Wed Mar 15, 2017 2:28 pm
Forum: Investing - Help with Personal Investments
Topic: TSP interfund transfer
Replies: 14
Views: 1252

Re: TSP interfund transfer

Now I have L 2040 in traditional and I in Roth. And I want to rebalance the L2040 to C, S, and F/G (L2040 is too conservative for me) and leave I untouched. Can I do that? The bigger plan is to transfer Vanguard rollover IRA to TSP traditional and have the same allocation of C, S, and F/G. And reba...
by MichDad
Wed Mar 15, 2017 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: TSP interfund transfer
Replies: 14
Views: 1252

Re: TSP interfund transfer

TSP does not allow traditional to Roth conversions at this time. It's high on my wish list, but the TSP board does not seem in a hurry to oblige. :sharebeer weedf16 is correct and I also would like to see the FRTIB change the TSP to permit regular-to-Roth TSP conversions. Of course, if that ever ha...
by MichDad
Wed Mar 15, 2017 11:50 am
Forum: Investing - Help with Personal Investments
Topic: TSP withdrawal
Replies: 17
Views: 2333

Re: TSP withdrawal

Hopefully, this will be corrected before you retire, but the TSP is in serious need of updating and improvement. Take a look at this post for a sense of the machinations TSP participants nearing retirement must consider: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=140180&start=50#p2609340 ...
by MichDad
Wed Mar 15, 2017 11:44 am
Forum: Investing - Help with Personal Investments
Topic: TSP interfund transfer
Replies: 14
Views: 1252

Re: TSP interfund transfer

1. Interfund transfers within the TSP are not taxable events and do not trigger any taxes. 2. One of the shortcomings of the TSP is that you cannot hold regular TSP assets in different funds or in different proportions than your Roth TSP assets. This is a particular problem for those who want, as I ...