Search found 8320 matches

by The Wizard
Sun Feb 14, 2016 10:08 am
Forum: Personal Consumer Issues
Topic: The Retirement Problem: What Will You Do With All That Time?
Replies: 67
Views: 5639

Re: The Retirement Problem: What Will You Do With All That Time?

reggiesimpson wrote:I have a close friend (65yo) who still works 24/7 and is worth .5B...

Not everyone can work 168 hours a week.
I certainly can't do it anymore...
by The Wizard
Sun Feb 14, 2016 10:04 am
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF exchange
Replies: 11
Views: 453

Re: TIAA-CREF exchange

Gonewiththewind wrote:...Is there any downside to moving out of the category 1 (CREF) account?

No.
by The Wizard
Sun Feb 14, 2016 9:04 am
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF exchange
Replies: 11
Views: 453

Re: TIAA-CREF exchange

There seems to be some miscommunication going on here. Correct. The OP's plan with T-C will have certain "variable annuities" such as CREF Stock and CREF Equity Index available, and possibly certain TIAA-CREF mutual funds such as Mid-cap Value and S&P 500 Index. You can transfer money...
by The Wizard
Sun Feb 14, 2016 8:29 am
Forum: Personal Finance (Not Investing)
Topic: I have a question when taking SS at 70
Replies: 19
Views: 1334

Re: I have a question when taking SS at 70

If your MAGI is $160,000 for an unmarried individual the additional cost for Medicare B and D premiums will be about $1000 more than if your MAGI is $159,999. I would look at the amount converted closely to avoid higher Medicare premiums. The look back is two years so Medicare starts at 65 and if y...
by The Wizard
Sun Feb 14, 2016 3:32 am
Forum: Personal Finance (Not Investing)
Topic: I have a question when taking SS at 70
Replies: 19
Views: 1334

Re: I have a question when taking SS at 70

And as far as tax relief, let me just say that it's entirely possible for those of us who saved too much in tax deferred accounts to be paying higher income taxes in retirement than in latter working years.
If this turns out to be the OP's situation, then congratulations on winning!
by The Wizard
Sun Feb 14, 2016 3:11 am
Forum: Personal Finance (Not Investing)
Topic: I have a question when taking SS at 70
Replies: 19
Views: 1334

Re: I have a question when taking SS at 70

As I've said before, best approach is to put together a spreadsheet projecting your gross taxable income up through your early 70s. This includes amounts of Roth conversions as well as RMDs when they start. I do a simplistic, conservative model of my tax deferred funds, assuming zero growth each yea...
by The Wizard
Sat Feb 13, 2016 9:25 am
Forum: Personal Consumer Issues
Topic: Allocating Personal Defense dollars...
Replies: 19
Views: 1928

Re: Allocating Personal Defense dollars...

[OT comments removed by admin LadyGeek] I wouldn't recommend secretive concealed carry while on duty.

Go with the pepper spray...
by The Wizard
Fri Feb 12, 2016 7:15 pm
Forum: Investing - Help with Personal Investments
Topic: Is all that "rebalancing band trigger" stuff really any better than this?
Replies: 19
Views: 1011

Re: Is all that "rebalancing band trigger" stuff really any better than this?

Once your accumulation gets large, after a few decades, new contribs may no longer be able to do it.
And once you retire, new contribs tend to disappear...
by The Wizard
Fri Feb 12, 2016 6:18 pm
Forum: Investing - Help with Personal Investments
Topic: When do you cut bait and run?
Replies: 14
Views: 1295

Re: When do you cut bait and run?

Buy low, sell high.
Not the other way around...
by The Wizard
Fri Feb 12, 2016 9:41 am
Forum: Investing - Help with Personal Investments
Topic: When do I start taxable account?
Replies: 34
Views: 1912

Re: When do I start taxable account?

For now, just put stock index fund(s) in your taxable account Thank you. Please help me understand the logic in this? It seems to me that taxable account is the last place you'd want your stocks? Wouldn't the short term gains cause you to owe more taxes end of year? Or are you saying because there ...
by The Wizard
Fri Feb 12, 2016 9:30 am
Forum: Investing - Theory, News & General
Topic: The RBD (Really Bad Days) database
Replies: 24
Views: 2262

Re: The RBD (Really Bad Days) database

A really bad day is very generic. You need to be more exact. What percentage and when? The huge swings in the intraday market lately will have you RBD in the AM and even market at the close. Or vice versa. Since you mention selling and buying, it seems like your buying is predicated on the sell fir...
by The Wizard
Fri Feb 12, 2016 9:22 am
Forum: Investing - Help with Personal Investments
Topic: When do I start taxable account?
Replies: 34
Views: 1912

Re: When do I start taxable account?

For now, just put stock index fund(s) in your taxable account, no bonds. Enable Specific Lot ID and disable auto-reinvest of dividends. Do more bonds in tax-sheltered if this throws your AA way off. Learn how to tax-harvest losses in your taxable account when they occur. I'll be doing this myself th...
by The Wizard
Fri Feb 12, 2016 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Key West and everglades trip
Replies: 25
Views: 1543

Re: Key West and everglades trip

I would recommend staying in a Guest House in Key West rather than the Sheraton hotel.
That's closer to what it's all about...
by The Wizard
Fri Feb 12, 2016 9:11 am
Forum: Investing - Theory, News & General
Topic: The RBD (Really Bad Days) database
Replies: 24
Views: 2262

Re: The RBD (Really Bad Days) database

There's more to it than just complete days. One day last week, the NASDAQ was down over 3% around noon-1:00 or so and then recovered considerably by the 4:00 close. You need to be investing in ETFs so you can take advantage of fluctuations like this in real-time. Using mutual funds limits you to the...
by The Wizard
Thu Feb 11, 2016 8:18 pm
Forum: Investing - Help with Personal Investments
Topic: Lump sum screws up AA
Replies: 9
Views: 607

Re: Lump sum screws up AA

Use a municipal bond fund in taxable.
Vanguard has one.
Actually, they have some state specific muni bond funds as well...
by The Wizard
Thu Feb 11, 2016 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF - Can't get original contract?
Replies: 19
Views: 835

Re: TIAA-CREF - Can't get original contract?

If the company doesn't have the contract, how does it know what terms apply to the benefits to be paid out under various circumstances? We're getting off track here. The OP's question concerns TIAA Traditional, which is a retirement plan product. One buys accumulation units of Trad during working y...
by The Wizard
Thu Feb 11, 2016 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 457
Views: 36148

Re: Changes to Social Security

Thanks Mike. My wife needs to wait until she is 66 before filing - correct? She has to BE 66 before the benefit starts or she will be DEEMED to be filing for the larger or her own and the spousal benefit. But she should actually go in and file the APPLICATION for her spousal benefit up to three mon...
by The Wizard
Wed Feb 10, 2016 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Problem
Replies: 14
Views: 1457

Re: Social Security Problem

It will be interesting to read ObliviousInvestor's analysis of this problem, I'm thinking...
by The Wizard
Wed Feb 10, 2016 5:26 pm
Forum: Personal Consumer Issues
Topic: Internet becoming "Small"
Replies: 23
Views: 2398

Re: Internet becoming "Small"

It's not just about reading, its about living and doing. Clothes dryer broke last Friday. Sounded like a broken belt, so I googled GE dryer repair and found YouTube and printed instructions. And I found replacement part number, ordered it for $9 on amazon prime for free delivery on Super Bowl Sunday...
by The Wizard
Wed Feb 10, 2016 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Problem
Replies: 14
Views: 1457

Re: Social Security Problem

I don't think Medicare premiums are tax-deductible so yes, they should send you that 1099 for the gross SS amount.

Can we assume they have been balance-billing you for the remainder of the Part B premium as well?
by The Wizard
Wed Feb 10, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF - Can't get original contract?
Replies: 19
Views: 835

Re: TIAA-CREF - Can't get original contract?

When I actually annuitized my contract, I received a 13-page document with a slick cover and the title "Your TIAA contract." On closer inspection, though, I see that it is surprisingly vague--it discusses the specifics of the "guaranteed" payments, says that the graded payment m...
by The Wizard
Wed Feb 10, 2016 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Did my taxes myself for the first time, feels great
Replies: 15
Views: 1191

Re: Did my taxes myself for the first time, feels great

Congrats on reading the IRS instructions! Are you saying that folks that use TurboTax and other software actually do not ever read the IRS instructions nor look at the forms that tax software produces? OK, one doesn't need to read the instructions carefully every year, but suppose one has a new For...
by The Wizard
Wed Feb 10, 2016 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Social security restricted spousal benefits - does my husband need to know?
Replies: 35
Views: 2758

Re: Social security restricted spousal benefits - does my husband need to know?

Thanks for following up.
Even though your specifics don't apply to me, I am starting divorced spouse benefits this month...
by The Wizard
Wed Feb 10, 2016 8:23 am
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF - Can't get original contract?
Replies: 19
Views: 835

Re: TIAA-CREF - Can't get original contract?

Note that TIAA changes the rules of their "contracts" infrequently, but without needing your approval. In the old days, only way to get $$ out of TIAA Traditional was to "pensionize" it, changing over to a lifetime monthly payout annuity. But they changed the rules over past deca...
by The Wizard
Wed Feb 10, 2016 7:44 am
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF - Can't get original contract?
Replies: 19
Views: 835

Re: TIAA-CREF - Can't get original contract?

When I actually annuitized my contract, I received a 13-page document with a slick cover and the title "Your TIAA contract." On closer inspection, though, I see that it is surprisingly vague--it discusses the specifics of the "guaranteed" payments, says that the graded payment m...
by The Wizard
Tue Feb 09, 2016 9:05 pm
Forum: Personal Consumer Issues
Topic: Mailing a US Passport in for Renewal
Replies: 19
Views: 1744

Re: Mailing a US Passport in for Renewal

Mailing something Certified or heaven forbid Registered will slow it down considerably.
You better know why exactly you choose either of those methods...
by The Wizard
Mon Feb 08, 2016 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Did my taxes myself for the first time, feels great
Replies: 15
Views: 1191

Re: Did my taxes myself for the first time, feels great

Some of us are the opposite.
I did my taxes by hand with a pencil from around 1970 to 2010.
Complexity ramped upward and then back downward

Last few years, I've been doing it electronically, FreeTaxUSA this time.
My modest federal refund hit my checking account late last week...
by The Wizard
Mon Feb 08, 2016 9:30 pm
Forum: Personal Consumer Issues
Topic: Traveling in Retirement
Replies: 57
Views: 4448

Re: Traveling in Retirement

I've been traveling 4-6 weeks a year from age 23 to 63.
Except when I was 31 and took a nine week leave of absence for a more extensive trip.

After I retired at 63, I ramped up my travel even more.
But as they say, your mileage may vary...
by The Wizard
Mon Feb 08, 2016 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Rental car for weekend trip to save on miles on new car?
Replies: 50
Views: 2903

Re: Rental car for weekend trip to save on miles on new car?

climber2020 wrote:No. Drive it. That's what it's for.

^^^This basically.
Now if you bought a new Corvette, say, and the purpose of your weekend trip is to haul back a couple thousand pounds of stuff, then yeah, you need something else to drive for that trip...
by The Wizard
Sun Feb 07, 2016 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: would like to increase ss payment
Replies: 10
Views: 1247

Re: would like to increase ss payment

If you retired at 67 and started SS then, you should be getting more than $1300/mo, if you earned over $100,000 then and proportionally less amounts going back to age 27 or so.
There must have been a gap of some sort...
by The Wizard
Sun Feb 07, 2016 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: would like to increase ss payment
Replies: 10
Views: 1247

Re: would like to increase ss payment

Depends on your earnings history, the top 35 adjusted years.
If you only had about ten years paying into SS, then what you are suggesting MIGHT be feasible.
But to get a 50% increase in SS could take several years of well paid employment...
by The Wizard
Fri Feb 05, 2016 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D IRMAA incorrectly assesed
Replies: 4
Views: 377

Medicare Part D IRMAA incorrectly assesed

I'm close to FRA (66) and applied for Divorced Spouse Benefit from SS a few months ago. The letter arrived today and mentioned the correct gross amount of my benefit that I was expecting, minus the IRMAA for Part B, since my income is a bit high. So far, so good. But then the letter says they will b...
by The Wizard
Fri Feb 05, 2016 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: How do you hire a lawyer to be "on retainer"?
Replies: 24
Views: 2462

Re: How do you hire a lawyer to be "on retainer"?

I think you are worrying too much about unlikely events...
by The Wizard
Fri Feb 05, 2016 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 28
Views: 2085

Re: Tax rate on IRA withdrawal when on Social Security

LadyGeek - thanks for the move and the welcome And The Wizard wrote: I think it's better to use tax software to model your situation. Using Excel is dependent on your knowledge. What tax software is there? like Carl53 I have a relatively simple situation. I was able to build the tax formula for &qu...
by The Wizard
Thu Feb 04, 2016 10:51 pm
Forum: Personal Consumer Issues
Topic: Anyone travel without hacking?
Replies: 75
Views: 6803

Re: Anyone travel without hacking?

I travel largely with cash purchases of airfare.
Just bought BOS-IAH for March 10-23.
(Should we take Livesoft out for lunch?)

I should probably aim for using FF miles for my next trip, but I don't like compromising too much...
by The Wizard
Thu Feb 04, 2016 10:41 pm
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 64
Views: 4444

Re: If SS covers expenses why invest?

Don't look at your "expenses". Look at your net take home pay. Take home pay is after 30% or so put aside for retirement, along with taxes and OASDI. My SS at age 62, if I had taken it, was less than $2000 a month. My take home pay was, ummm, quite more than $2000 a month. I'm not sure the...
by The Wizard
Thu Feb 04, 2016 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1528

Re: Taxation of fellowship

That would also add to my "quarters" or whatever they are called for SS eligibility. Very relevant for students aiming for advanced degrees, as I will now need to work a year and a half past my employer's minimum retirement age in order to get a full 30 years on record with the SSA. 30 ye...
by The Wizard
Thu Feb 04, 2016 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 28
Views: 2085

Re: Tax rate on IRA withdrawal when on Social Security

Doc: Given our pensions, 85% of our SS is taxed. To estimate our taxes, I calculated our AGI and MAGI by summing our sources of income excluding SS and then added 85% of SS income. Next, I calculated our Federal Taxable Income by subtracting our standard deduction and exemptions from MAGI. Then, I ...
by The Wizard
Thu Feb 04, 2016 5:56 pm
Forum: Investing - Theory, News & General
Topic: Take the Verb Tense Pledge!
Replies: 69
Views: 3809

Re: Take the Verb Tense Pledge!

Some of us happen to believe that, using broad brushstrokes, the past tends to repeat itself in the future.
Others will naively swear that This Time Is Different.
So, pick a side, I guess...
by The Wizard
Thu Feb 04, 2016 5:39 pm
Forum: Investing - Theory, News & General
Topic: Take the Verb Tense Pledge!
Replies: 69
Views: 3809

Re: Take the Verb Tense Pledge!

No.
Without being verbose, I think that either tense can be right.
Some things can only be analyzed in retrospect, yes.
Other things are generally applicable for an indefinite duration, including the future.
And so it goes...
by The Wizard
Thu Feb 04, 2016 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: [Am I getting a bad deal from my financial planner?]
Replies: 58
Views: 3999

Re: Am I getting screwed?

Toons wrote:...Toons is brief and to the point. :happy

Chaz was briefer...
by The Wizard
Thu Feb 04, 2016 2:35 pm
Forum: Personal Consumer Issues
Topic: Don’t Be Hacker Bait
Replies: 13
Views: 2480

Re: Don’t Be Hacker Bait

Thank you. I have started using password manager since a week for financial and social media. I think it is a matter of "when" for online security to be broken at some point. Better be safe. I am interested in 1 more thing if members here have found solution. I have 1-3 emails but they ar...
by The Wizard
Thu Feb 04, 2016 1:55 pm
Forum: Investing - Theory, News & General
Topic: Delaying SS Benefits?
Replies: 25
Views: 1708

Re: Delaying SS Benefits?

If one has only a modest level of retirement savings, then yes, taking SS at the earliest date would make a lot of sense.
We've discussed this here many times.

In today's low interest rate environment, it makes more sense to delay SS than it would if rates were way higher...
by The Wizard
Thu Feb 04, 2016 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Tax refund - paper check or direct deposit?
Replies: 13
Views: 766

Re: Tax refund - paper check or direct deposit?

"Overly paranoid", checko.
I've been doing direct deposit of both my federal and state tax refunds for a while now and it works fine...
by The Wizard
Thu Feb 04, 2016 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax rate on IRA withdrawal when on Social Security
Replies: 28
Views: 2085

Re: Tax rate on IRA withdrawal when on Social Security

I might recommend targeting an approximately level taxable income in retirement, rather than pulling out much more some years for large purchases. Roth conversions can be done if you don't need all the income for current expenses. All of my SS income will be 85% taxable, so I've accepted that. There...
by The Wizard
Thu Feb 04, 2016 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: What percentage of your expenses are covered by SS and/or pensions
Replies: 84
Views: 5380

Re: Retirees: What percentage of your expenses are covered by SS and/or pensions

I'm retired almost three years. My retirement income is easier to analyze than my "expenses". I have no pension and have delayed SS thus far. My income (all taxable) presently: 67% fixed/variable lifetime annuities + 33% withdrawals from portfolio. I also have sporadic part-time employment...
by The Wizard
Wed Feb 03, 2016 5:32 pm
Forum: Investing - Theory, News & General
Topic: Make your retirement money last
Replies: 41
Views: 8835

Re: Make your retirement money last

Larry -- Thank you so much for your kind, and thorough, review of my new book. I have always been grateful for your wise opinions. And thank you, everyone, who made such lovely comments on this book and my previous ones. The Bogleheads and I have always been on the same page. Jane Wow, nice. Increm...

Go to advanced search