Search found 9161 matches

by The Wizard
Wed Jan 18, 2017 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA financial advisor?
Replies: 8
Views: 322

Re: TIAA financial advisor?

They are OK, more or less, but you want to get unbiased advice here and at the M* TIAA forum also. I also have an assigned rep (WMA) and his primary utility to me is as a named contact to marshall through any "challenging" transactions that I want done, such as creating an on-going monthly...
by The Wizard
Wed Jan 18, 2017 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: When to annuitize?

In reply to House Blend, I do still have three GRA contracts and two GSRA contracts, so I manage them with different goals to a degree. But as we all know, the Trad vintage structure of recent years is an artifact of the steady decline in interest rates over the last 15-20 years. Hence those older v...
by The Wizard
Wed Jan 18, 2017 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Getting Ready for Backdoor Roth Conversions
Replies: 9
Views: 419

Re: Getting Ready for Backdoor Roth Conversions

Sounds good.
I did similar last year, but smaller tIRA.
It's not really all that much work but sometimes it takes a few days for a step to happen and be verified...
by The Wizard
Wed Jan 18, 2017 4:30 am
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: When to annuitize?

...That said, you probably don't want to go overboard, annuitizing some of your stock holdings every year from age 65 to 90. I would guess if instead you annuitized 25% at ages 70, 75, 80, and 85, you would end up very close to optimal... A couple of comments. Ignoring any SS payout, your 25% in fo...
by The Wizard
Tue Jan 17, 2017 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: When to annuitize?

I'll go check. TIAA VAs are valued on the 20th of each month, or the 18th or 19th when on a weekend, for payment on the first of month following. Also, CREF Stock is roughly 70% US stocks and 30% foreign, so that differs from VTSAX, for instance. OK, you can examine CREF Stock performance here: http...
by The Wizard
Tue Jan 17, 2017 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: Variable annuities

As it turns out, TIAA variable annuities are one of the few good ones out there. Most other ones apparently have high fees and confusing rules... Are you sure? No confusing rules at all? The market went up nearly 10% in one month recently. Most variable annuities would have capped your gains in tha...
by The Wizard
Tue Jan 17, 2017 12:54 pm
Forum: Personal Consumer Issues
Topic: Basic question on Hybrid cars
Replies: 43
Views: 1964

Re: Basic question on Hybrid cars

Ford is expanding their hybrid product line significantly with the 2020 model year, including a hybrid Mustang.
There are hopes that they will do this right and have a new Mustang that is competitive with Tesla in coming up to speed...
by The Wizard
Tue Jan 17, 2017 10:41 am
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: Variable annuities

Beware of course that variable annuity income DECLINES some months, it doesn't always increase... Bogleheads: Variable annuities are bad annuities. Single Premium Immediate Annuities (SPIAs) are good annuities. https://www.bogleheads.org/forum/viewtopic.php?t=174869 Best wishes. Taylor As it turns ...
by The Wizard
Tue Jan 17, 2017 9:32 am
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: When to annuitize?

Not all at once, but instead in chunks Can you elaborate on why? (particularly for TIAA, which at least for Trad sort of buffers interest rate changes, IIUC) I'm planning to annuitize another chunk with TIAA later this year or in 2018, depending on possible part-time work. This chunk will be about ...
by The Wizard
Mon Jan 16, 2017 8:02 pm
Forum: Personal Consumer Issues
Topic: Collision Avoidance Systems
Replies: 15
Views: 1059

Re: Collision Avoidance Systems

love them, wont buy a car without them, and gives me peace of mind and lower liability. Of course, if one thinks they are a perfect and attentive driver, then they might disagree. Yes, there will be a set of replies that such devices are costly distracting, imperfect, sabotage the otherwise perfect...
by The Wizard
Mon Jan 16, 2017 5:52 pm
Forum: Investing - Help with Personal Investments
Topic: When to annuitize?
Replies: 33
Views: 2900

Re: When to annuitize?

I annuitized about half of my TIAA accumulation four years ago at age 63. I get about $75,000 a year from that now. I may annuitize another chunk of my accumulation this year to punch it up a bit and lessen the uptick at age 70. In the OP's case, it seems like a winning situation no matter what you ...
by The Wizard
Mon Jan 16, 2017 4:51 pm
Forum: Investing - Theory, News & General
Topic: Medicare as a percentage of Social Security
Replies: 2
Views: 330

Re: Medicare as a percentage of Social Security

I have opined similarly.
I'm in tier three of Medicare IRMAA and expect to see much/most of my net SS payment going to Medicare in coming years.
There's just no way to forecast this more than five years ahead.
There are political issues, you see...
by The Wizard
Sun Jan 15, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard on finding a dead person's password
Replies: 81
Views: 5847

Re: Vanguard on finding a dead person's password

I've been single for a few decades now, but back when I was married there were definitely joint checking and savings accounts out there; the death of one spouse would not impact the other spouse's access to that account. So my question: does Vanguard have joint personal/taxable investment accounts a...
by The Wizard
Sun Jan 15, 2017 12:02 am
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 62
Views: 4961

Re: Flafship Reps

.....you’ll have direct access to a team of Flagship representatives rather than working exclusively with your assigned representative lol - I love the implication that it's better for you while taking away something..... I would love some honesty for a change. Does seem like another step in the be...
by The Wizard
Sat Jan 14, 2017 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Needs
Replies: 3
Views: 500

Re: Retirement Needs

macheta wrote:When I added inflation (2.5%) and increase medical costs (5.5%) it moved my savings required from 690k to 2.5m.

Just save 20% to 25% of gross income per year.
You'll be fine...
by The Wizard
Sat Jan 14, 2017 10:52 pm
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 62
Views: 4961

Re: Flafship Reps

PFInterest wrote:What is a flafship?

I'm not sure, but it's not worth paying an extra twenty-five cents a month for.
Admiral shares in everything is just fine...
by The Wizard
Sat Jan 14, 2017 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Needs
Replies: 3
Views: 500

Re: Retirement Needs

Too far ahead to estimate

Wait until five years out...
by The Wizard
Sat Jan 14, 2017 10:26 pm
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 62
Views: 4961

Re: Flafship Reps

Flagship, not flafship...
by The Wizard
Sat Jan 14, 2017 11:48 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Who would have more income as a retiree than when they're working? a) somebody with a big inheritance b) somebody who lived way below their means and invested wisely c) somebody who was very successful in their career and didn't blow all the money etc. Why should any of that lead to having more inc...
by The Wizard
Sat Jan 14, 2017 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth. What to do with 68 cents
Replies: 7
Views: 511

Re: Backdoor Roth. What to do with 68 cents

I had a $218 gain while accumulating $6500 of contribs in my tIRA last year. I would never use a money market fund in an IRA of either type; the expected return is way too low compared to most stock funds. I converted the entire amount $6718 to Roth shortly after my last contrib and will have a smal...
by The Wizard
Sat Jan 14, 2017 11:31 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Justin: One of the things that drives high taxable income in retirement is the Required Minimum Distribution (RMD) from tIRA/401K/403B portfolios. The percentage of your portfolio that must be withdrawn starts at 3.6% but it increases as your life expectancy falls (the IRS intends to get ALL their ...
by The Wizard
Sat Jan 14, 2017 9:10 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

jacoavlu wrote:My 10 year old daughter has a paper route and made $5000
She will file a tax return and her liabliltiy will be $0.
Should she contribute to a tIRA or a Roth IRA?

Roth, for sure...
by The Wizard
Sat Jan 14, 2017 8:21 am
Forum: Investing - Help with Personal Investments
Topic: What to do when an IRA is no longer tax-deferred? (RMDs!)
Replies: 18
Views: 1959

Re: What to do when an IRA is no longer tax-deferred? (RMDs!)

My main question was whether it would be prudent to somewhat diminish that possible year-end balance, in an effort to avoid going into a higher tax bracket. Hmmm, as I type this, it seems as if I’m asking whether it would be prudent to have less growth in the IRA in order to pay fewer taxes! I gues...
by The Wizard
Sat Jan 14, 2017 8:20 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Ok, I'm not following why any of your examples would favor a Roth over a traditional. Why would any of those imply a higher income during retirement than during working years? If you've been maxing out a 401k or 403b with hefty employer match for forty years or more, you can easily accumulate $2 mi...
by The Wizard
Sat Jan 14, 2017 8:00 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Roth money is helpful when retiring early as a source of tax free money to live on while you convert tax deferred dollars to Roth paying zero or low income taxes. Do you mean pull money out of your Roth account to live on so you don't have an income tax burden so you can pull money out of your trad...
by The Wizard
Sat Jan 14, 2017 7:56 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

When you've been working for 5 years and have some money saved and make more then you can drop the $5,500 a year extra into a Roth. When you've been working for 10 years and are making real money then you might have an extra $5,500 more to drop into a Trad. IRA. If you are talking about the same pe...
by The Wizard
Sat Jan 14, 2017 7:51 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 7018

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Who would have more income as a retiree than when they're working? I do. I kept my taxable income down in the 25% bracket while working and contributing the max to my tax deferred 403(b). In retirement, I'm now in the 28% bracket. This is not a terrible situation but, knowing what I do now, I would...
by The Wizard
Fri Jan 13, 2017 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Does this change the 401k/Roth decision?
Replies: 6
Views: 874

Re: Does this change the 401k/Roth decision?

You want to fund Roth IRAs for each of you each year as well But that doesn't address your question about Roth 401k vs Trad 401k. First, let me say that my Federal tax bracket (marginal rate) increased from 25% my latter working years to 28% in retirement. Not everyone agrees with my recommendation ...
by The Wizard
Fri Jan 13, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: ROTH conversion calculator to minimize RMDs?
Replies: 18
Views: 1547

Re: ROTH conversion calculator to minimize RMDs?

Minimizing RMDs is very simple: Convert everything to Roth. But your goal should probably not be to minimize RMDs. Well, that depends. For some people, withdrawals from tax deferred accounts fill up lower tax brackets before and after age 70.5. It's what they live on. So if paying max 15% federal t...
by The Wizard
Fri Jan 13, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: t-IRA to Roth conversions..the rest of the story
Replies: 24
Views: 1769

Re: t-IRA to Roth conversions..the rest of the story

I'm in the 28% bracket as a retired single, yet I do modest Roth conversions on a monthly basis. Main reason for this is that I face a decent increase in taxable income in 2020 when my SS and RMDs start. So effectively 15% of my gross retirement income goes into my Roth IRA from my 403(b), rather t...
by The Wizard
Fri Jan 13, 2017 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Why do different S&P 500 Index funds have different share prices?
Replies: 7
Views: 490

Re: Why do different S&P 500 Index funds have different share prices?

So is it safe to say using very simple math... If S&P 500 "Fund A" was worth $100, and S&P 500 "Fund B" was worth $200 at the start of the year and the S&P gained 10% in that year, then 'Fund A" would be worth $110 and "Fund B" would be worth $220 at t...
by The Wizard
Fri Jan 13, 2017 12:45 pm
Forum: Investing - Help with Personal Investments
Topic: Why do different S&P 500 Index funds have different share prices?
Replies: 7
Views: 490

Re: Why do different S&P 500 Index funds have different share prices?

They started at different points in time and therefore have had differing histories of price appreciation and of price changes when dividends and capital gains have been distributed. Not to mention that initial price per share at inception can be whatever the company feels like, especially for mutu...
by The Wizard
Fri Jan 13, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: t-IRA to Roth conversions..the rest of the story
Replies: 24
Views: 1769

Re: t-IRA to Roth conversions..the rest of the story

Now of course, this is just one case study, to give a sense about the concept. I was recently speaking to somebody who is ready to retire in his early 60s, and 100% of his savings are in tax-sheltered accounts (401k-like). Roth conversion made zero sense for him. It only makes sense if you have a s...
by The Wizard
Fri Jan 13, 2017 9:17 am
Forum: Investing - Theory, News & General
Topic: Timing Roth withdrawals
Replies: 2
Views: 245

Re: Timing Roth withdrawals

Withdrawals are never required from your own Roth IRA.
I believe they are required from a Roth 403b or 401k starting at age 70.5 unless you rollover those funds to a Roth IRA...
by The Wizard
Fri Jan 13, 2017 6:32 am
Forum: Investing - Help with Personal Investments
Topic: What to do when an IRA is no longer tax-deferred? (RMDs!)
Replies: 18
Views: 1959

Re: What to do when an IRA is no longer tax-deferred? (RMDs!)

OP seems confused on the concept of investing. If there was a safe way to DOUBLE your IRA balance (there isn't), then you should choose that, along with RMDs twice as big and a higher tax bill. Since OP apparently doesn't need funds from that IRA to spend, the proceeds of each RMD after tax will be ...
by The Wizard
Thu Jan 12, 2017 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: ROTH conversion calculator to minimize RMDs?
Replies: 18
Views: 1547

Re: ROTH conversion calculator to minimize RMDs?

I'm not sure i-orp does what the OP wants.
At age 66.9 and in decent health, what I like to do is manage my taxable income, which obviously includes Roth conversions, so that the increase at age 70, due to SS + RMD isn't toooo big.
You can develop your own spreadsheet for this...
by The Wizard
Thu Jan 12, 2017 1:42 pm
Forum: Investing - Help with Personal Investments
Topic: social security calculation
Replies: 37
Views: 2460

Re: social security calculation

I am doing this now and I guess I am not clear on what is going on. I can plug in my year to stop working (let's say it's 57) and it shows a section enumerating my monthly benefit if I take SS at age 62 with that stop year. Benefit shows $1813/mo. However, lower down in the other "age of benef...
by The Wizard
Thu Jan 12, 2017 1:18 pm
Forum: Investing - Help with Personal Investments
Topic: social security calculation
Replies: 37
Views: 2460

Re: social security calculation

SS uses your 35 highest inflation adjusted income years, so if you have 35 good ones, additional years of employment and payroll taxes may increase your benefit very little or not at all.
I peaked out at age 58, five years before retiring...
by The Wizard
Thu Jan 12, 2017 11:08 am
Forum: Investing - Help with Personal Investments
Topic: Another How Much To Save For Retirement
Replies: 9
Views: 1105

Re: Another How Much To Save For Retirement

High earners generally max out tax deferred retirement accounts early and start saving more in taxable accounts.
Goal is to become Financially Independent early, not necessarily retire early...
by The Wizard
Wed Jan 11, 2017 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Daring to figure it out for myself: Dare I retire this year?
Replies: 27
Views: 5034

Re: Daring to figure it out for myself: Dare I retire this year?

Hi, @The Wizard, Thanks for responding! Your premise seems a little wrong, but I'll play along to learn something new. I'm looking forward to the discussion. :D Hi again, CL, My premise is generally a little wrong, yes. But the point is to avoid confusing minimal basic expenses with realistic actua...
by The Wizard
Wed Jan 11, 2017 2:14 pm
Forum: Investing - Theory, News & General
Topic: No debt, except for...
Replies: 7
Views: 1066

Re: No debt, except for...

Random observations aren't generally allowed for new topics here, so careful with that. And no, I don't see that terminology used on Bogleheads too often. I think most posters acknowledge their debts straightforwardly. Having said that, certain kinds of debt are toxic and should be totally avoided. ...
by The Wizard
Wed Jan 11, 2017 2:08 pm
Forum: Investing - Theory, News & General
Topic: Retiree's Asset Allocation
Replies: 12
Views: 1038

Re: Retiree's Asset Allocation

I'm not a bucketeer, but I agree that your AA in retirement should possibly depend on how much you are depending on that portfolio for retirement income. Additionally, you might want to compute how much of your actual retirement income covers basic expenses and how much is extra, or discretionary. A...
by The Wizard
Wed Jan 11, 2017 10:55 am
Forum: Personal Consumer Issues
Topic: truck prices
Replies: 37
Views: 2596

Re: truck prices

It is intended as an example as truck prices have dramatically escalated in comparison with SUV prices, rather than a commentary on the magic of depreciation. I chose those two cars because they represented the extremes, a truck that used to be a common choice for work trucks of plumbers, home buil...
by The Wizard
Wed Jan 11, 2017 10:16 am
Forum: Personal Consumer Issues
Topic: truck prices
Replies: 37
Views: 2596

Re: truck prices

What I did was to spec out my 2016 F150 Lariat FX4 SuperCab just the way I wanted it built. I then shopped around to three different dealers back in October, 2015 and went with the lowest bid. Six weeks later, my newly built truck showed up and I drove it away. Now you can probably save more $$ off ...
by The Wizard
Tue Jan 10, 2017 6:31 pm
Forum: Personal Consumer Issues
Topic: Anyone else having trouble with unrequested CVS auto-refills?
Replies: 55
Views: 2520

Re: Anyone else having trouble with unrequested CVS auto-refills?

I szend them a renewal script in the mail and mark it place on file, DO NOT FILL.. and they fill it and send it out anyway as a matter of policy they said. I go in person to do that. Most recently happened just before I left for a two week trip. Get the doctor to renew it and I'll refill it out whe...
by The Wizard
Tue Jan 10, 2017 6:03 pm
Forum: Personal Consumer Issues
Topic: Anyone else having trouble with unrequested CVS auto-refills?
Replies: 55
Views: 2520

Re: Anyone else having trouble with unrequested CVS auto-refills?

Note: within the last month, CVS has improved their Android app somewhat to only show current prescriptions. But yes, you need to take charge of this rather than let a team of wild horses drag you around. I was found to be allergic to one med after several months and got switched to a new one last y...
by The Wizard
Tue Jan 10, 2017 5:54 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Traditional IRA and Roth IRA
Replies: 13
Views: 810

Re: Vanguard Traditional IRA and Roth IRA

Interesting. Everything i've ever read (and vanguard reps) have stated that roth conversions (backdoor) must occur before the end of the calendar year that the contribution is for. Contributions can occur until april 15th of the next year, or october if there is an extension. Well that's just wrong...
by The Wizard
Tue Jan 10, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: How to build passive income
Replies: 45
Views: 4276

Re: How to build passive income

I owned a vacation condo that I rented out some years ago, 1200 miles away, so local property mgmt company. Renter would complain about unbalanced washing machine or sliding glass door off track and they'd send a guy over to fix it. And they'd charge me a fee. I forget how much, since I sold the con...
by The Wizard
Tue Jan 10, 2017 5:24 pm
Forum: Personal Consumer Issues
Topic: Anyone else having trouble with unrequested CVS auto-refills?
Replies: 55
Views: 2520

Re: Anyone else having trouble with unrequested CVS auto-refills?

Revenue Enhancement, that's what we have here...

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