Search found 8831 matches

by The Wizard
Mon Aug 29, 2016 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Article: "Yes you can be too conservative"
Replies: 38
Views: 3748

Re: Article: "Yes you can be too conservative"

What is the point of consuming more just to increase to one's maximal possible consumption? Our culture has lost it's footing. Strange culture that it is encourages paring back savings, maximizing spending and planning on higher eventual withdrawal rates. The general culture overspends purchasing m...
by The Wizard
Sun Aug 28, 2016 5:12 pm
Forum: Personal Consumer Issues
Topic: Best free net content (Like Youtube, not netflix or amazon)
Replies: 10
Views: 819

Re: Best free net content (Like Youtube, not netflix or amazon)

Using Chromecast, there's a fair amount of HD free content here and there.
Some PBS shows and all CBS series for 1-4 weeks after airing...
by The Wizard
Sun Aug 28, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Article: "Yes you can be too conservative"
Replies: 38
Views: 3748

Re: Article: "Yes you can be too conservative"

The premise of that article and some of the thread replies are a bit annoying. I'm not sure these conservative retirees are generally asking for help. The idea that you need to ramp up expenditures from a 2% w/d rate to enjoy retirement more makes me smirk. Another currently active thread concerns a...
by The Wizard
Sun Aug 28, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on ditching truck payment whilst in debt
Replies: 12
Views: 870

Re: Advice on ditching truck payment whilst in debt

I use my truck to haul stuff: 48 concrete blocks a while back, a ton of crushed stone every few weeks, logs for firewood and next week, my son's move to a new apartment.
I use my car when just going somewhere.

What does the OP use his truck for?
by The Wizard
Sun Aug 28, 2016 11:45 am
Forum: Personal Consumer Issues
Topic: T-Mobile New 'One' Plan
Replies: 14
Views: 1456

Re: T-Mobile New 'One' Plan

Another good reason to go with Google's Project Fi: tethering with your smartphone is completely legal there...
by The Wizard
Sun Aug 28, 2016 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Social Security for the month of retirement
Replies: 8
Views: 889

Re: Social Security for the month of retirement

No age for the person to retire is mentioned, so clearly she is below FRA, where SS benefits have an earnings test.
If she can just delay till FRA, the issue becomes moot.

I'm FRA this year, earn well over that limit with part-time work, and my SS benefit is not impacted...
by The Wizard
Sun Aug 28, 2016 8:28 am
Forum: Personal Consumer Issues
Topic: Who is ready for iphone 7?
Replies: 31
Views: 2353

Re: Who is ready for iphone 7?

If you can hold on till October, the two new Google Nexus smartphones will be out!

Current and future generation Nexus phones support Google's Project Fi multi-vendor cell service and work around the world without swapping SIM cards...
by The Wizard
Sun Aug 28, 2016 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Career Counseling for Teens
Replies: 34
Views: 1928

Re: Career Counseling for Teens

If you don't take the full load of math (Algebra 1, Algebra 2, Trigonometry, Calculus, etc.), and science (Chemistry, Physics, Advanced Physics) in high school, you will probably not get into an engineering school, let alone survive there. The curriculum and competition is intense. To get the educa...
by The Wizard
Sun Aug 28, 2016 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Article: "Yes you can be too conservative"
Replies: 38
Views: 3748

Re: Article: "Yes you can be too conservative"

I complain about stuff, too. It's part of your entitlement when you get older. That article is by Christine Benz. As she points out, having a 2% withdrawal/spending rate is just fine if you have enough millions in your portfolio. I added the /spending to acknowledge that RMDs are way higher than 2% ...
by The Wizard
Sat Aug 27, 2016 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: $50M+ - Need a sounding board/advice
Replies: 110
Views: 9308

Re: $50M+ - Need a sounding board/advice

[OT comment removed by moderator prudent]
by The Wizard
Sat Aug 27, 2016 3:08 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA conversion at 28% tax rate.
Replies: 19
Views: 1105

Re: Roth IRA conversion at 28% tax rate.

For comparison and possibly contrast, I'm making modest Roth conversions now in semi retirement at age 66 in the 28% marginal Federal bracket. In my case, I was in the upper end of the 25% marginal bracket my last several full time working years prior to 2013, due to maximal contributions to my trad...
by The Wizard
Sat Aug 27, 2016 2:04 pm
Forum: Investing - Theory, News & General
Topic: When in doubt, convert to a Roth
Replies: 17
Views: 1613

Re: When in doubt, convert to a Roth

So, if (1) You have taxable savings to cover the taxes (2) You think you will end up withdrawing in the 25% tax bracket from you IRAs regardless. (3) You have Medicare part B and you are married filing jointly Then you should make a tentative Roth conversion up to $170,000 MAGI. I think you have it...
by The Wizard
Sat Aug 27, 2016 1:46 pm
Forum: Personal Consumer Issues
Topic: Extension cord's amp and tools
Replies: 25
Views: 1511

Re: Extension cord's amp and tools

killjoy2012 wrote:Correct - NEC requires GFI protection on all exterior plugs now...

"Now" seems misleading.
GFCIs have been required since at least the mid 1970s and probably before.
That's when I got my first NEC book and started doing wiring on my expanding house...
by The Wizard
Thu Aug 25, 2016 6:42 pm
Forum: Personal Consumer Issues
Topic: Cell phone data plans
Replies: 62
Views: 5655

Re: Cell phone data plans

Anyone have experience with Google's Project Fi? https://fi.google.com/about/?u=0 New code-name Sailfish and Marlin Nexus phones due next month. Some very nice features.... Project Fi uses the T-Mobile/Sprint networks. So if you like their coverage areas, then Fi should be fine. On the other hand, ...
by The Wizard
Tue Aug 23, 2016 12:37 pm
Forum: Investing - Theory, News & General
Topic: 401K Fees [401(k) Lawsuits increasing due to fiduciary standard]
Replies: 27
Views: 1545

Re: Edward Jones Sued Over Its Own Employee 401k Plan

Weird that they would use a similar high fee approach in their employee's retirement plan.
I mean, we have to assume the employees are well familiar with the high fee shenanigans they are pulling on the general public...
by The Wizard
Tue Aug 23, 2016 8:24 am
Forum: Investing - Help with Personal Investments
Topic: Should I do Roth conversions?
Replies: 10
Views: 788

Re: Should I do Roth conversions?

Keep in mind that RMD percentage goes up with age, it does not remain fixed at 4%. I don't remember the exact numbers but it seems that by your late 80s the percentage goes into double digits... Yes, but depending on the performance of that portfolio, the DOLLAR amount of the RMD might not change m...
by The Wizard
Tue Aug 23, 2016 8:08 am
Forum: Personal Finance (Not Investing)
Topic: What's worth more?
Replies: 28
Views: 2482

Re: What's worth more?

I pensionized a sum of $$ three years ago with TIAA at roughly 6.5% payout rate. This was at age 63, a single life contract with ten year guarantee. For a married couple maybe only a 6% payout for joint survivorship. Comparing $60,000 vs $40,000 per year of taxable income, I'd go with the $1M, but w...
by The Wizard
Tue Aug 23, 2016 8:01 am
Forum: Investing - Help with Personal Investments
Topic: High Income and Confused
Replies: 21
Views: 3073

Re: High Income and Confused

BL wrote:
...Why not pay off cars and get a clean, no-debt start?

We need to know the interest rate on that loan(s) before recommending early payoff.
If something like 0.9% then just leave it and pile up compensating funds elsewhere...
by The Wizard
Tue Aug 23, 2016 7:26 am
Forum: Investing - Help with Personal Investments
Topic: Should I do Roth conversions?
Replies: 10
Views: 788

Re: Should I do Roth conversions?

It may depend on your projected income over the next 7-8 years or so until you are fully past age 70.5. Keeping taxable income per year about the same or slightly increasing over those years is my goal. Roth conversions are taxable income, so more of those prior to 70, less after. In my situation, 8...
by The Wizard
Tue Aug 23, 2016 7:12 am
Forum: Investing - Help with Personal Investments
Topic: Too much in investments subject to RMD, should I invest some in taxable instead?
Replies: 10
Views: 850

Re: Too much in investments subject to RMD, should I invest some in taxable instead?

OP et ux are a bit too young to shift away from traditional tax sheltered savings at this time. But it's something to keep a eye on, especially if you have a Roth option with your employer A lot depends on running the numbers as you get within five years of retirement. If your projected taxable inco...
by The Wizard
Mon Aug 22, 2016 7:22 pm
Forum: Investing - Help with Personal Investments
Topic: Timing for RMD withdrawals?
Replies: 33
Views: 2707

Re: Timing for RMD withdrawals?

I have 3+ years to think about this.
I may do my entire RMD by January 15 to allow my continuing end of month Roth conversion to stay in place.
Otherwise I'll have to change things...
by The Wizard
Mon Aug 22, 2016 6:52 pm
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 105
Views: 5744

Re: How do you view debt?

A tool it is, yes.
Better to have way more savings than low interest debt.
Good to eliminate all debt as you get older and pay for new cars in cash, for instance.

Bottom line may be how much debt service you have as percentage of income.
Debt service plus other obligations, actually...
by The Wizard
Sun Aug 21, 2016 7:15 am
Forum: Personal Consumer Issues
Topic: What is your system for dealing with coins?
Replies: 116
Views: 6600

Re: What is your system for dealing with coins?

I save them for downtown parking and garage sales. But, parking meter now accept cards. I find myself spending whole dollars at garage sales these days. Perhaps it's the end of days for coinage. The penny needs to go away for sure. When I am elected, I shall issue an Executive Order doing so. The i...
by The Wizard
Thu Aug 18, 2016 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Splitting a Single RMD Between Two Calendar Years
Replies: 2
Views: 313

Re: Splitting a Single RMD Between Two Calendar Years

Yes, you can do that, but you won't be "smoothing" your income from that source. You'll be getting less income in year 1 at the expense of getting more income in year 2.
However, if you have employment income in year 1 but not year 2, then you could be smoothing the combined total...
by The Wizard
Wed Aug 17, 2016 7:20 am
Forum: Investing - Theory, News & General
Topic: Question on Inflation
Replies: 23
Views: 1419

Re: Question on Inflation

Ignoring future inflation is certainly the simplest way to model it. That's what I do in my ten year spreadsheet which projects my retirement income and portfolio balance. As a practical matter, delaying to get a maximal SS payment (COLA'd), together with a portion of my annuity income based on stoc...
by The Wizard
Wed Aug 17, 2016 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Financial Security, how to secure it???
Replies: 14
Views: 1356

Re: Financial Security, how to secure it???

Changing passwords frequently is VASTLY OVERRATED as a security measure.
It essentially does nothing but makes you FEEL like you've done something productive.

To the extent possible, the usual rule applies: Don't just do something, stand there...
by The Wizard
Mon Aug 15, 2016 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 262
Views: 29334

Re: Self-made Millionaires: how did hitting 7 figures change you?

I can't speak from personal experience, but what I can't wait for is seeing the power for $1,000,000 grow vs my small portfolio. A 10% increase is $100,000--more than I could ever hope to save in a year. Well, yes, but possibly even MORE exciting is a 10% DECREASE in that portfolio. I've had that h...
by The Wizard
Mon Aug 15, 2016 6:47 am
Forum: Investing - Help with Personal Investments
Topic: ST annuity to cover SS @ 70?
Replies: 23
Views: 973

Re: ST annuity to cover SS @ 70?

No. A fixed term annuity of 5-10 years pays next to nothing over just taking out 1/N of the total each year, where N is the # of years. Manage sequence of returns by adjusting the AA for THAT $$ appropriately. I'm doing similar from age 63 to 70 and simply take a withdrawal from my 403b each month i...
by The Wizard
Mon Aug 15, 2016 6:35 am
Forum: Investing - Help with Personal Investments
Topic: Should I backdoor Roth or just stick with taxable?
Replies: 17
Views: 1827

Re: Should I backdoor Roth or just stick with taxable?

Part of the answer depends on your expected marginal tax rate for future working years and in retirement.
If you foresee 28% forever, then so be it.
Consider converting your tIRA to Roth in two chunks, this year and next, so less extra income tax this year...
by The Wizard
Mon Aug 15, 2016 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 262
Views: 29334

Re: Self-made Millionaires: how did hitting 7 figures change you?

It had very little real effect, since my charts showed I needed closer to two million$ to fund my retirement.
So it was a milestone, similar to $100k and $500k.

If I was on my 20s today, I would be targeting $5M or more by age 65, so the $1M stepping stone becomes less significant over time...
by The Wizard
Sat Aug 13, 2016 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement budgets
Replies: 20
Views: 1821

Re: Retirement budgets

I played with budgeting prior to retiring in March, 2013.
I decided to focus more on income in retirement vs pre retirement.
It's worked out well doing that.
With a higher net retirement income, I'm able to wing it with no big issues...
by The Wizard
Wed Aug 10, 2016 10:01 am
Forum: Personal Consumer Issues
Topic: advice on backyard project
Replies: 20
Views: 2115

Re: advice on backyard project

Answer depends a lot on your experience level, along with what tools and time you have.
And the fencing looks to be quite separate from the patio/decking, so two different projects...
by The Wizard
Wed Aug 10, 2016 7:30 am
Forum: Investing - Theory, News & General
Topic: What does never reblance mean?
Replies: 8
Views: 1375

Re: What does never reblance mean?

My monthly withdrawals are "pro rata" over all the funds in one of my accounts.
So those withdrawals don't affect the balance of that account.

However, I do have other accounts that I'm not withdrawing from
So there's a slight impact on the relative balance between accounts...
by The Wizard
Sun Aug 07, 2016 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: What is a modest retirement (definition)?
Replies: 66
Views: 6321

Re: What is a modest retirement (definition)?

Johnnie wrote:OK, what's "luxurious?" For my middle class tastes it's:
.

Ok, good. But Luxurious and Modest are two quite different levels...
by The Wizard
Sat Aug 06, 2016 6:33 pm
Forum: Personal Consumer Issues
Topic: Blocking robot calls.
Replies: 51
Views: 3661

Re: Blocking robot calls.

One feature we required was call blocking. The Panasonic cordless phone can block 50 numbers. We have tried it a couple of times, and it works well. Ok, but some junk calls keep moving to new pseudorandom phone numbers. This is why an app that does a quick online lookup to determine spam or real is...
by The Wizard
Sat Aug 06, 2016 2:59 pm
Forum: Personal Consumer Issues
Topic: Solo Travel
Replies: 40
Views: 3572

Re: Solo Travel

If the Tulum solo trip works out, I've got another trip for you to Jamaica. PM me for deets...
by The Wizard
Sat Aug 06, 2016 1:47 pm
Forum: Personal Consumer Issues
Topic: Blocking robot calls.
Replies: 51
Views: 3661

Re: Blocking robot calls.

Mr Number app blocks a lot of junk calls to my cell phone...
by The Wizard
Sat Aug 06, 2016 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: A New Medicare Charge is Coming
Replies: 20
Views: 2907

Re: A New Medicare Charge is Coming

There's not much new about this; it's the same old Medicare IRMAA updated for 2018. They did add another tier to get six total now instead of five. My goal now will be to stay in tier four and not earn enough part-time income to break into tier five. :( The WSJ article shows the fifth and sixth tie...
by The Wizard
Sat Aug 06, 2016 12:21 pm
Forum: Personal Consumer Issues
Topic: Data heavy sim card for Europe trip
Replies: 18
Views: 1018

Re: Data heavy sim card for Europe trip

I'm looking for a sim card for a trip across Germany, Austria, Switzerland, and Belgium. I've been looking at prepaid Sim cards, but most seem to only have 500mb-1gb. I was thinking more like 3-4gb. Anyone know of any places that sell them? I would signup for Google ProjectFi. They charge $0.01/mb ...
by The Wizard
Sat Aug 06, 2016 8:51 am
Forum: Personal Consumer Issues
Topic: Data heavy sim card for Europe trip
Replies: 18
Views: 1018

Re: Data heavy sim card for Europe trip

I'm looking for a sim card for a trip across Germany, Austria, Switzerland, and Belgium. I've been looking at prepaid Sim cards, but most seem to only have 500mb-1gb. I was thinking more like 3-4gb. Anyone know of any places that sell them? I would signup for Google ProjectFi. They charge $0.01/mb ...
by The Wizard
Sat Aug 06, 2016 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Pay Off First?
Replies: 19
Views: 1211

Re: Which Debt to Pay Off First?

I'd probably pay $10k to zero loan 2.
But that's a charge off that will impact your credit score for seven years.
As long as you don't care about your credit score, go for it...
by The Wizard
Sat Aug 06, 2016 6:54 am
Forum: Personal Finance (Not Investing)
Topic: A New Medicare Charge is Coming
Replies: 20
Views: 2907

Re: A New Medicare Charge is Coming

There's not much new about this; it's the same old Medicare IRMAA updated for 2018.
They did add another tier to get six total now instead of five.
My goal now will be to stay in tier four and not earn enough part-time income to break into tier five.
:(
by The Wizard
Fri Aug 05, 2016 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: 25x Residual Expenses if no Residual Expenses?
Replies: 11
Views: 1615

Re: 25x Residual Expenses if no Residual Expenses?

who can share the definition of "residual expenses" in this context, please? Residual INCOME would be an easier concept to put your arms around. Nonetheless, residual expenses would be excess expenses not covered by one's income. They might take the form of increasing CC debt from month t...
by The Wizard
Fri Aug 05, 2016 5:42 pm
Forum: Investing - Theory, News & General
Topic: Boglehead Contest -- New Link
Replies: 13
Views: 1162

Re: Boglehead Contest -- New Link

GoldenFinch wrote:Link is dead again. I only looked because I think I'm in the top three (just for today of course). I hope I was wrong and it goes much higher. :happy

Well the link to the site works ok, but the site's page is broken with the closing s&p500 at 0.00
:(
by The Wizard
Fri Aug 05, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: I have investments with EdJones...
Replies: 19
Views: 2775

Re: I have investments with EdJones...

JW-Retired wrote:
saver4life wrote: Anyone know if I get penalized for pulling all my money out?

There is probably a $50 account closing fee but beyond that depends on what funds they sold you...

Last I checked EJ, I think the closing fee was $90 or $95 per account, not per fund in an account...
by The Wizard
Thu Aug 04, 2016 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Income the year before Medicare
Replies: 11
Views: 1201

Re: Income the year before Medicare

Is the additional premium waived if you have subsequently retired and currently have zero earned income? I stopped working Dec 31 2015 and will be filing for Medicare this October. Taxable income (AGI) is what counts, not earned income, to be specific. Yes, there's a form you can file to explain a ...
by The Wizard
Thu Aug 04, 2016 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Upcoming decisions on retirement
Replies: 13
Views: 1699

Re: Upcoming decisions on retirement

Your numbers and goals are similar to mine, except I'm single. Part of the issue is bridging the gap till age 70 and start of SS. I annuitized a portion of my tax deferred accounts to get a nice (taxable) base Income and am then withdrawing additional to cover my seven years from 63 to 70. It's work...
by The Wizard
Thu Aug 04, 2016 9:02 am
Forum: Personal Finance (Not Investing)
Topic: How are taxes different after retirement?
Replies: 39
Views: 3350

Re: How are taxes different after retirement?

That chart on average effective tax rates is pretty much useless for practical purposes. 1. If I convert an additional $10,000 from tIRA to Roth IRA, how much additional tax will I owe? 2. If I sell a chunk of funds in my taxable account with LTCGs to buy a new car, how much additional tax will I ow...
by The Wizard
Thu Aug 04, 2016 8:52 am
Forum: Personal Finance (Not Investing)
Topic: How are taxes different after retirement?
Replies: 39
Views: 3350

Re: How are taxes different after retirement?

vtMaps wrote:Personal exemption increases at age 65. --vtMaps

That only increases your standard deduction a bit.
If you itemize your deductions, you get no benefit from being >65...
by The Wizard
Wed Aug 03, 2016 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: 401k or Roth 401k?
Replies: 14
Views: 754

Re: 401k or Roth 401k?

If / when you get over $1,000,000 in your traditional 401k, I'd start phasing an increasing percentage into your Roth 401(k).
This helps keep your taxes lower in retirement than when working...

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