Search found 90 matches

by sil2017
Sat Apr 22, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: typical deductions for retirees
Replies: 27
Views: 2387

typical deductions for retirees

I have been inputting different scenarios into the free HR block income tax calculator for predicting 2017 and beyond. I realize that once retired, i would only have 3 deductions, a lot less than when I am employed. My only write offs would be charitable donations, state tax refund, and real estate ...
by sil2017
Fri Apr 21, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

bloom2708-

From a financial viewpoint, it is best to not pay it off upon retirement but rather pay it off monthly till last payment of July 2018.

is this right?
by sil2017
Fri Apr 21, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

"When is the final payment scheduled for based on the current balance?"

July 2018
by sil2017
Fri Apr 21, 2017 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

thanks bloom2708.

Not sure what it means " how do you have a $2400 month mortgage payment on 34k? " other than:

I pay 2400 per month towards my mortgage. I owe 34k on my mortgage.

Perhaps I don't understand the question.
by sil2017
Fri Apr 21, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Uncle Ben-

is it a typo and you are referring to the Athens house for 324k?

The 2400 month is the mortgage for my current house.

If the 34k is referring to my mortgage, where did you get the number from?
by sil2017
Fri Apr 21, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Watty-

Gosh , I can't believe the Athens house for $324k.

I will check out Athens a bit more.
by sil2017
Fri Apr 21, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

J295- Yes, definitely the "buyer's remorse" and OMY syndrome hitting me. I've been through many emotions since February. It really "hit" me when I received the HRS termination paper. Reason : Retirement with pension. Coffee for now. Wine later. :happy Last day of Spring Vacation ...
by sil2017
Thu Apr 20, 2017 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Ron- I like my job . However my mind is set for retirement. I have not been taking care of myself as much in the last 2 years. The extra time from not working will allow me to be physically and mentally fit again. I am still concern about the health premium in the upcoming years. Watty- I had though...
by sil2017
Thu Apr 20, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

thanks Mim- I assume 40 years of withdrawal. Used the calculator for 60% stock ad 40% bond. Not able to get exactly 525k only 500k. So i can withdraw 16k per year with 95% survival rate. How would I calculate the pension? I rounded off to $4700 but really it is $4680 per month, annual adjustment of ...
by sil2017
Thu Apr 20, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

delamer Income protection (purchasing power protection)from Calstrs "The purchasing power protection program is a supplemental benefit paid quarterly if the value of the initial pension amount falls below 85 percent of value, as measured by the California Consumer Price Index once the 2 percent...
by sil2017
Thu Apr 20, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Instead of figuring what my monthly expenses are, I wanted to know how much i can spend monthly without depleting my money so I can adjust my retirement lifestyle. Based on my information given in post one, what am I able to spend monthly? I have not seen a retirement calculator with the simple inte...
by sil2017
Thu Apr 20, 2017 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Delamer and Wizard- Thanks for the clarification. My uneasiness is the 4 years health care premium out of my pocket. I can live with $300 per month (today's rate) I think the best thing to do is to pay off my mortgage and heloc with my 457B funds upon retirement. I will feel better psychologically e...
by sil2017
Thu Apr 20, 2017 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

From 61 to 65, I am able to keep the School District's health plan. However, i will no longer have the $500 per month subsidy. $1000 per month for medicare seems extremely high. Is this an estimate for future expenses? What is the Medicare tax of 1.45% deducted from my salary for? According to CALPE...
by sil2017
Thu Apr 20, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

No social security at all. Not even a dime. Forgot about working as a young person.......I may possibly have minimal old age pension in Canada as I worked part time for 5 years and full time for one year....not sure and not counting the income. Just concern about whether I can afford the high expens...
by sil2017
Thu Apr 20, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

'I'm struck by the huge amount of home equity you have relative to investments. Having a home worth 1.5-2x all investments is a little unusual, and a 950k home seems like a ton for a person who is single and will be living on 60k a year or so. Property taxes alone would be a huge payment, right?'&qu...
by sil2017
Thu Apr 20, 2017 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Re: Did I make a good decision to retire July 2017 instead of July 2018?

#2- more time to travel, learn new language, fitness activities, spending time with family in Canada, healthy cooking
#1 - not sure as I will have to pay health premium on own at 61 1/2
by sil2017
Thu Apr 20, 2017 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4961

Did I make a good decision to retire July 2017 instead of July 2018?

I guess it's too late now since I have already turned in my resignation letter. I am supposed to be retiring July 1, 2017. Upon retirement , I will have $4700 monthly pension with simple cost of living adjustment of 2% yearly with 85% income protection PLUS $500 monthly for 10 years with no COLA. If...
by sil2017
Sun Apr 09, 2017 8:35 am
Forum: Local Chapters and Bogleheads Community
Topic: Boglehead Conference 2017?
Replies: 34
Views: 4706

Re: Boglehead Conference 2017?

Any one on the waitlist able to go?
by sil2017
Fri Apr 07, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Heloc effect on Fico Score
Replies: 4
Views: 555

Re: Heloc effect on Fico Score

Line limit is 90k
by sil2017
Fri Apr 07, 2017 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Heloc effect on Fico Score
Replies: 4
Views: 555

Heloc effect on Fico Score

First, thanks very much for your expert advice. Bogleheads is my "daily reading" and i have received valuable information from reading answers to my posts and other bogleheads' questions and answers. Here goes my question: I have a Heloc of 90k. I spent 12.5 K already. I would need to spen...
by sil2017
Thu Apr 06, 2017 7:41 am
Forum: Local Chapters and Bogleheads Community
Topic: Your USER NAME...what does it mean?
Replies: 342
Views: 21708

Re: Your USER NAME...what does it mean?

Sil is short for first name
2017 is the year I am retiring
by sil2017
Thu Apr 06, 2017 7:39 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2017!
Replies: 103
Views: 11914

Re: Roll Call for the Retirement Class of 2017!

Miriam2-

Sil2017- June 15, 2017
by sil2017
Wed Apr 05, 2017 8:37 am
Forum: Investing - Theory, News & General
Topic: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 134
Views: 13259

Re: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT

What site was the link to the registration? And was it posted right after midnight? With so many people ahead of me on the wait list , I will wait for next year. Which site will the link to the registration be next year if not here as it seems like this is the place to make the announcement? New mem...
by sil2017
Tue Apr 04, 2017 9:56 pm
Forum: Investing - Theory, News & General
Topic: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 134
Views: 13259

Re: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT

I thought the announcement will be April 5th...

I like to go in 2018 since I missed this one.

But if there is space for 2017, please add me to the waitlist.

Thanks
by sil2017
Fri Mar 31, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Mandatory 1099 for CA real estate sale
Replies: 0
Views: 149

Mandatory 1099 for CA real estate sale

I have read that Escrow may or may not send a 1099S to IRS for sale of a house. Is this a choice for the seller? My friend has a house in escrow and just told me escrow will file the 1099 form. Are there circumstances that escrow will or will not file? Does this depend on whether there will be capit...
by sil2017
Sat Mar 25, 2017 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Payment issued confusion
Replies: 2
Views: 276

Re: Payment issued confusion

Thank you Duckie.
by sil2017
Sat Mar 25, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Payment issued confusion
Replies: 2
Views: 276

Payment issued confusion

Quote from "what payments are included on my 1099R ? "Your Form 1099-R includes payments issued from January 1 through December 31. The payment issued January 1 for the month of December of the prior year will be included on the Form 1099-R for the year the payment was issued." Accord...
by sil2017
Sat Mar 25, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: W2 box 1 or 5 for earnable income
Replies: 4
Views: 326

Re: W2 box 1 or 5 for earnable income

Is it box 1 plus all the amount in box 12 to determine yearly earnabkw income?
by sil2017
Sat Mar 25, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: W2 box 1 or 5 for earnable income
Replies: 4
Views: 326

W2 box 1 or 5 for earnable income

I am maxing out my 403b and 457b this year as I will be retiring in July 2017 According the IRS rule, I cannot contribute (total of 457b plus 403b)more than my yearly earnable income? I am concern that I may be contributing more than my earnable income for the year depending on which amount is consi...
by sil2017
Sat Mar 25, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: IRA partial deduction with work and retired pension
Replies: 1
Views: 167

IRA partial deduction with work and retired pension

thanks very much for all the help so far . And i sure need it as I am approaching retirement and trying to make the best decision for contributing to Traditional IRA. Here is the situation for 2017- Employed Jan to June 2017 - covered by a retirement plan at work ( in addition, I am contributing to ...
by sil2017
Thu Mar 23, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: max TRAD IRA contribution 2017
Replies: 2
Views: 182

max TRAD IRA contribution 2017

For 2017, I will be employed for half year. The rest I will be on retirement pension. What is the max IRA I can contribute for 2017? Also, is there a chart which which states how much of the Trad IRA can be deductible based on MAGI? Roughly for employment, is the MAGI (not including dividend, intere...
by sil2017
Sat Mar 18, 2017 11:26 am
Forum: Investing - Help with Personal Investments
Topic: 3 years versus 10 years annuity payment
Replies: 10
Views: 613

Re: 3 years versus 10 years annuity payment

Great! Thanks for detailed explanation Jimb_fromatl

Option 2 it will be.

Will have form sent to me to make the change.

Sorry for constant confusion.
by sil2017
Fri Mar 17, 2017 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: 3 years versus 10 years annuity payment
Replies: 10
Views: 613

Re: 3 years versus 10 years annuity payment

So … are you saying that for nothing out of pocket, and just checking or initialing an option on a form, you can receive either $1232 per month for 36 months or $467 for 120 months? It is part of my supplemental pension. What's the balance, rate, and time remaining on the mortgage? Balance will be 2...
by sil2017
Fri Mar 17, 2017 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: 3 years versus 10 years annuity payment
Replies: 10
Views: 613

Re: 3 years versus 10 years annuity payment

Sorry for the confusion. The 3 years versus 10 years annuity is a defined benefit supplement. I have one year left on my mortgage when I retire. I am not sure if I want to pay it off or not. If take the 3 Years annuity, I will need to withdraw some money from my Tiaa Traditional account (457B) earni...
by sil2017
Fri Mar 17, 2017 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: 3 years versus 10 years annuity payment
Replies: 10
Views: 613

Re: 3 years versus 10 years annuity payment

If I take option 2, then I will need to withdraw about 30k to 40k from my TIAA traditional annuity earning at 3%. Is this still a good idea to take option 2 or stay with option 1? I have the TIAA annuity which i can withdraw as much as I want without penalty upon leaving employment. I will be retire...
by sil2017
Fri Mar 17, 2017 3:34 pm
Forum: Investing - Help with Personal Investments
Topic: 3 years versus 10 years annuity payment
Replies: 10
Views: 613

3 years versus 10 years annuity payment

Which is a better choice for supplemental benefit pension( no cost of adjustment for either) beginning July 1st?

1. $1232 per month for 3 years

2. $467 per month for 10 years

How much better if the better choice is number 2 as I am thinking about choice 1.
by sil2017
Fri Mar 17, 2017 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Federal tax withholding from job and pension
Replies: 10
Views: 826

Re: Federal tax withholding from job and pension

Sorry but one other question about my pension..... Since I am able to change withholding allowance and request X number of additional tax withheld anytime online from July 2017 to December 2017 for my pension, would it matter if I have NO withholding for July , August and September 2017 , then in Oc...
by sil2017
Thu Mar 16, 2017 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Federal tax withholding from job and pension
Replies: 10
Views: 826

Re: Federal tax withholding from job and pension

Thanks everyone for your help.
I can even add additional withholding online should I wish to.
by sil2017
Thu Mar 16, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Federal tax withholding from job and pension
Replies: 10
Views: 826

Re: Federal tax withholding from job and pension

"Can you withhold enough from your federal pension to meet most if not all of your tax liability? " Yes, I can choose what my withholding is for my pension so if i file Single with 0 or 1 withholding, higher federal tax will be withheld from my paycheck. Also, I can change the withholding ...
by sil2017
Thu Mar 16, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Federal tax withholding from job and pension
Replies: 10
Views: 826

Re: Federal tax withholding from job and pension

would i need to send in quarterly estimated tax if I plan to have more monthly deduction ( to make up for not enough taxes taken out from Jan to June 2017) when I start my pension July 2017?
by sil2017
Thu Mar 16, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Federal tax withholding from job and pension
Replies: 10
Views: 826

Federal tax withholding from job and pension

For 2017, I will be employed for 6 months and receive taxable pension for 6 months. For my employment, there is very little federal tax deduction on paycheck so if it were only based on this income, i would owe a penalty to IRS For my pension, I will have greater federal tax deduction to make up for...
by sil2017
Mon Mar 13, 2017 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: House deed with heloc
Replies: 8
Views: 489

Re: House deed with heloc

Thanks all ,

What should i receive from the credit union when i close my heloc?
by sil2017
Mon Mar 13, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: House deed with heloc
Replies: 8
Views: 489

Re: House deed with heloc

Gill,

Do i need to close my heloc account to receive a satisfaction of mortgage?

Won't there still be a lien on my house with the heloc loan?
by sil2017
Mon Mar 13, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: House deed with heloc
Replies: 8
Views: 489

House deed with heloc

I plan to pay off my first mortgage with Chase bank this October 2017. However, I still have a heloc loan with the credit union (11k) I could pay the 11k off before i pay of my first mortgage. However, I rather not close my heloc account. Question- Will i receive title to house deed from Chase Bank ...
by sil2017
Fri Mar 10, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Tiaa Annuity equals Prime Market/emergency fund
Replies: 2
Views: 316

Tiaa Annuity equals Prime Market/emergency fund

I have money in my 457b TIAA annuity. It is the plan that I can withdraw any amount and whenever I want after I leave my job. I do not need to have it annualized. It pays a minimum of 3 % or more.

Is this Tiaa Annuity similar to a prime market or emergency fund as I can liquidate it whenever?
by sil2017
Sun Mar 05, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Worth It Or Not? [to Retire]
Replies: 28
Views: 4758

Re: Worth It Or Not? [to Retire]

If you are economically able, you can choose either. But with several months to go , it may be a good idea to receive 2k more annually. I have the same pension equation as you. However, my age factor will only be .0177 with 31 years of teaching. For me I am retiring in June 2017 rather than June 201...
by sil2017
Fri Mar 03, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Residency in Nevada for Windfall
Replies: 11
Views: 1917

Re: Residency in Nevada for Windffall

MP123- Yes, my friend is aware that he will need to pay capital gains (after claiming 250k exemption)on selling his house in CA regardless of his residency. sperry8- thanks for link If he sells the CA house by June 2017 and move in Nevada in July 2017, can he claim Nevada residency for 2017 even tho...
by sil2017
Fri Mar 03, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Residency in Nevada for Windfall
Replies: 11
Views: 1917

Residency in Nevada for Windfall

Helping a friend with this question: Presently he lives in California. He owns a house without CA homeowner exemption. He plans to sell the house this year if he gets a good price. He will have a windfall most likely this year 2017. Slim chance the windfall will be 2018. He wants to reside in Nevada...
by sil2017
Fri Feb 24, 2017 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-retirement checklist, what is on yours?
Replies: 72
Views: 5823

Re: Pre-retirement checklist, what is on yours?

retiring within 4 month 1. Set up direct deposit for pension checks 2. Change medical plan 3. Living trust 4. Plan my travels 5. Family arrangement for cruise 6. Enroll in a fun and educational course 7. Read up on recipes as I will be cooking a lot more 8. Check Parks and Recreation for enrolling i...
by sil2017
Thu Feb 23, 2017 9:58 am
Forum: Investing - Theory, News & General
Topic: slowly rebalancing or almost all at once for Asset allocation
Replies: 5
Views: 633

Re: slowly rebalancing or almost all at once for Asset allocation

Thanks everyone for confirming what i did was acceptable. :happy I will have a generous retirement pension so won't plan to withdraw from my 403b anytime soon. Nevertheless, I can sleep better with 65/35 ratio. I still have about 12k monthly dollar averaging which I plan to add to Wellsley. Slow and...

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