Search found 345 matches

by vtMaps
Mon Apr 23, 2018 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: Small Roth, big RMD--advice?
Replies: 9
Views: 1092

Re: Small Roth, big RMD--advice?

I'm getting close enough to retirement to be focused on figuring it out. My retirement savings has always been extremely focused on before tax savings to avoid current year taxable income. As a result, 93% of my retirement money is in tax advantaged accounts, and just 7% is in ROTH. We are in much ...
by vtMaps
Thu Apr 12, 2018 4:32 am
Forum: Investing - Theory, News & General
Topic: I bonds rates and returns
Replies: 7
Views: 1314

Re: I bonds rates and returns

whodidntante wrote:
Thu Apr 12, 2018 1:52 am
One thing to know is there is a mandatory holding period of one year, and they are serious about that.
If you buy a bond today (4/12/18) or later this month, you can redeem it on April Fool's Day in 2019. That is (seriously) less than a year.

--vtMaps
by vtMaps
Tue Apr 10, 2018 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Alternative website for those in lower tax brackets?
Replies: 59
Views: 5232

Re: Alternative website for those in lower tax brackets?

One of the most important things I have learned here is how to be in a lower tax bracket. Many folks could pay less tax if they were to follow the tips and tricks I have learned here. I like being in a lower bracket :beer

--vtMaps
by vtMaps
Tue Apr 03, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [spousal benefit]
Replies: 24
Views: 1139

Re: Social Security Question [spousal benefit]

If you were to pass before her (after 70 ) she would get your benefit at the time of your passing (survivor benefit) and lose whatever benefit she had at that time . I think the highlighted part above is true only if her benefit at the time of his passing is less than 50% of what her survivor benef...
by vtMaps
Tue Apr 03, 2018 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [spousal benefit]
Replies: 24
Views: 1139

Re: Social Security Question [spousal benefit]

I just want to make sure that by taking the spousal benefit at age 64, prior to full retirement age, I won't reduce my own benefit at age 70. Is that the case? The rules have changed... you cannot take a benefit restricted to only your spouse's earning record while she is alive. If she dies before ...
by vtMaps
Sat Mar 24, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Can I really target to pay 0% Federal Taxes for 12 yrs of Retirement
Replies: 46
Views: 6128

Re: Can I really target to pay 0% Federal Taxes for 12 yrs of Retirement

Thanks for the link to i-ORP. I have been running a number of different scenarios which are very insightful. Looks like there is more safety margins in my plans than I had expected! One thing that looks strange is that it recommending TIRA to Roth Conversions and then immediate withdrawl from the R...
by vtMaps
Mon Mar 19, 2018 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Anyway to get traditional IRA funds minimizing tax other then not working?
Replies: 63
Views: 5242

Re: Anyway to get traditional IRA funds minimizing tax other then not working?

Codemaster, I'm coming into this thread late, but do your parents receive social security benefits? If so, there may be an advantage to alternating years of high and low withdrawals from the IRA. This is because of the social security tax hump. I wrote about it here: https://www.bogleheads.org/forum...
by vtMaps
Mon Mar 12, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?
Replies: 8
Views: 567

Re: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?

According to https://www.healthinsurance.org/faqs/if-my-income-is-less-than-expected-this-year-i-might-be-eligible-for-medicaid-what-can-i-do-during-open-enrollment-to-cover-my-bases/ If you receive an advance premium tax credit and then your income actually ends up being under 100 percent of pover...
by vtMaps
Mon Mar 12, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?
Replies: 8
Views: 567

Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?

DW just turned 65, so 2017 was our last full year of ACA health insurance. DW’s earned income was low enough to receive cost sharing reductions. Actually, our income was near the top of the 10% bracket. Of course, there is no 10% bracket when one is receiving premium tax credits… the cost of health ...
by vtMaps
Thu Mar 01, 2018 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Conversions, the ACA, and Dividend/Interest Income
Replies: 9
Views: 717

Re: IRA Conversions, the ACA, and Dividend/Interest Income

So I guess there really isn't a 12% bracket for anyone with subsidized ACA... :confused That's correct. DW just went on medicare (in 2018), but was on ACA for all of 2017. We will take $13k out of our IRAs this month (12% tax bracket). A day later we will make $13k contributions to the same IRAs, b...
by vtMaps
Tue Feb 27, 2018 7:57 pm
Forum: Personal Consumer Issues
Topic: Mobile Deposit Bank Fraud
Replies: 36
Views: 2659

Re: Mobile Deposit Bank Fraud

The author of the blog wrote:
"I am out a considerable amount of money because I was not following my accounts closely".
He didn't mention a timeline, but I suspect that he didn't notice the fraud until long after the statement date.

--vtMaps
by vtMaps
Sun Feb 25, 2018 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block software problem
Replies: 16
Views: 1350

Re: H&R Block software problem

Why would you want to import your 2016 AGI into your 2017 tax return?

--vtMaps
by vtMaps
Thu Feb 22, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: [Is this fund transaction taxable?]
Replies: 5
Views: 343

Re: [Is this fund transaction taxable?]

If these are in a taxable brokerage account, then selling the stock fund creates a tax liability. If the funds are in an IRA or other tax advantaged account then it is not an issue.

If the gains you report are long term gains, they may be tax free, depending on your tax bracket.

--vtMaps
by vtMaps
Thu Feb 22, 2018 12:18 pm
Forum: Investing - Theory, News & General
Topic: Is 0.46% more after-tax yield enough to justify muni risk?
Replies: 9
Views: 1102

Re: Is 0.46% more after-tax yield enough to justify muni risk?

ribonucleic wrote:
Thu Feb 22, 2018 11:03 am
potential loss of tax exemption
A loss of the tax exemption would require a constitutional amendment. The reason state bonds are tax exempt is that the constitution forbids the federal government to tax the obligations of the states. (and vice versa)

--vtMaps
by vtMaps
Wed Feb 21, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Additional tax exempt interest lowers our income tax!
Replies: 1
Views: 424

Additional tax exempt interest lowers our income tax!

I got our federal taxes almost done, but then remembered we had $265 of tax-exempt interest (I forgot about it because we did not receive a 1099). When I added in the $265 income, I was surprised to see our income tax went down! Here's why: DW is self-employed and buys her health insurance on the ex...
by vtMaps
Wed Feb 14, 2018 1:58 pm
Forum: Investing - Theory, News & General
Topic: I-Bonds?
Replies: 80
Views: 13931

Re: I-Bonds?

Does it make sense to delay filing my tax return in order to find out what the fixed rate will be in May (for paper I bonds)? I have a question about this... if I file paper tax returns in mid April, I expect that my refund would not be processed for several weeks... well into the month of May. Wou...
by vtMaps
Mon Feb 05, 2018 12:06 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 867

Re: Does MM 7 day yield include expenses?

And your purchase date, 1/19/18, was a Friday . Based on my observations about how Vanguard bond funds operate (I will guess that Fidelity operates the same way), that means you also won't get credited for any interest on Saturday and Sunday. So that means you should have received 10 days of ~1.4% ...
by vtMaps
Sun Feb 04, 2018 5:34 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 867

Re: Does MM 7 day yield include expenses?

Your calculation is not what I would do because you did not take into account daily compounding. I didn't know it compounds daily... I thought it doesn't compound until it posts... thus I assumed monthly compounding. Anyway, your calculation also doesn't match the interest that was posted to the ac...
by vtMaps
Sun Feb 04, 2018 3:21 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 867

Re: Does MM 7 day yield include expenses?

You would not get interest for the day of deposit. The day after that, the money will have been in the fund for one day, etc. OK, if I assume 11 days of interest (rather than 12), the interest rate then becomes 1.27%. Also, short term rates have been rising. The quoted yield is for the last 7 days....
by vtMaps
Sun Feb 04, 2018 12:30 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 867

Re: Does MM 7 day yield include expenses?

Yes, it includes expenses. Please show your calculations. :) OK, my statement shows $21,000 of FZDXX purchased on 1/19/18 and $8.04 of interest posted on 1/31/18. Over the twelve days that I had the fund in January the interest was $0.67 per day. $0.67 per day is $244.55 per year. $244.55 ÷ $21,000...
by vtMaps
Sun Feb 04, 2018 11:45 am
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 867

Does MM 7 day yield include expenses?

In anticipation of taking a distribution from an IRA, I sold some mutual funds and put them into fidelity money market FZDXX which (according to morningstar) has a 7 day yield of 1.4% and an ER of 0.3%. The interest accrues daily and posts at the end of the month. I purchased the MM on 1/19/18. Base...
by vtMaps
Fri Jan 26, 2018 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 395

Re: Need help with IPS - decumulating stable value and bonds

I would sell bonds not because "bonds are down" -which they are not- but because 3% in a stable value fund is a little more return than you can expect from bonds you hold now and the deal can't be replaced. That is how I feel.... but how do I incorporate that into my IPS? Should I start selling sta...
by vtMaps
Fri Jan 26, 2018 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 395

Re: Need help with IPS - decumulating stable value and bonds

You want to move a bond investment in an IRA to a Roth IRA where it can remain invested in bonds. I am a little lost on what the problem is. Maybe if you can be more specific as to the dilemma we could help. Moving the bond fund from an IRA to a Roth IRA is not a problem. But we are also spending d...
by vtMaps
Fri Jan 26, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 395

Re: Need help with IPS - decumulating stable value and bonds

Here is a document about receiving income from TIAA-CREF. Thanks, but I think that document is meant for TIAA Traditional in group retirement accounts. Our TIAA Traditional is in an IRA and is 100% liquid. We can sell it and we can buy it, but what we can buy now will not have the favorable terms o...
by vtMaps
Fri Jan 26, 2018 5:32 am
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 395

Need help with IPS - decumulating stable value and bonds

We are 66 and 65 and virtually all of our retirement assets are in Fidelity and TIAA IRAs. We are spending down (and Roth converting) these assets for a few years before RMDs and SS. Our IPS asset allocation is "age in fixed income". Our portfolio is: 27% total stock mutual fund 8% TIAA real estate ...
by vtMaps
Tue Jan 23, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversions or Knot(in stomach)
Replies: 7
Views: 783

Re: Roth Conversions or Knot(in stomach)

Will have to buy health insurance for her for 3yrs till medicare. Assuming (unlikely,IMO) that the current health insurance situation persists until DW is ready (in about 15 years?)... If she is buying her insurance on the exchange, you will want to keep your income as low as possible for those 3 y...
by vtMaps
Tue Jan 23, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversions or Knot(in stomach)
Replies: 7
Views: 783

Re: Roth Conversions or Knot(in stomach)

The moral of this story for someone who is 18 years away from RMDs is that the "correct" strategy is going to be very sensitive to your assumptions about what your income from SS and what your RMDs will look like, even without any tax law changes. House Blend, your logic is quite correct now, but t...
by vtMaps
Mon Jan 15, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Check writing on a Roth account?
Replies: 1
Views: 199

Check writing on a Roth account?

I called Fidelity to see if I could add check writing and/or Billpay to my Roth IRA. The answer is no. It seems bizarre to me that they offer check writing on their traditional IRAs, but not on Roth IRAs. Especially so because there is no withholding tax on a Roth, and there may be withholding issue...
by vtMaps
Thu Jan 04, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm vs Geico
Replies: 68
Views: 5503

Re: State Farm vs Geico

I've had State Farm for 25 years and I'm not switching now to save $50 bucks and then have Geico and separately Liberty Mutual (overlaid by Geico). +1 Every couple of years I comparison shop... I compared my SF home/auto/umbrella with other companies. Each time the result was the same... I might be...
by vtMaps
Tue Jan 02, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm vs Geico
Replies: 68
Views: 5503

Re: State Farm vs Geico

If you have auto and umbrella from Geico, but homeowner's insurance from another company, does the umbrella cover homeowner liability above the limits of the homeowner policy (up to the umbrella limit)?

--vtMaps
by vtMaps
Sat Dec 30, 2017 8:49 am
Forum: Investing - Help with Personal Investments
Topic: Wisdom of 2017 Roth conversion
Replies: 8
Views: 475

Re: Wisdom of 2017 Roth conversion

How much can you convert if you go to the top of the 15% bracket? Isn't it already too late for a 2017 conversion?

--vtMaps
by vtMaps
Fri Dec 22, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin in Freefall
Replies: 166
Views: 18816

Re: Bitcoin in Freefall

nisiprius wrote:
Fri Dec 22, 2017 1:17 pm
"Gravitates" higher... interesting kind of "gravity..."
It sort of makes sense, since the price of bitcoin had been plummeting upwards until today :confused

--vtMaps
by vtMaps
Tue Dec 19, 2017 9:30 am
Forum: Investing - Help with Personal Investments
Topic: Trying to model my portfolio--but I think I "broke" i-ORP and RPM!
Replies: 8
Views: 956

Re: Trying to model my portfolio--but I think I "broke" i-ORP and RPM!

Thanks. Great advice for the starting point. I will for sure be in the (current) 25% bracket at age 70. Where I get into the weeds, for example, is then trying to model whether it's worthwhile to maybe even pay for some ROTH conversions now into the (current) 25% bracket--because of the value of th...
by vtMaps
Sun Dec 17, 2017 6:24 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 131
Views: 12542

Re: H&R Block Software

I am planning to take advantage of one of the low-income free tax software options. Hope I don't regret the decision. I use H&R Block Deluxe to print all my federal and state forms for submission by certified mail. I will never use one of those "low-income free tax software options" if I have to e-...
by vtMaps
Sat Dec 16, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: H+R Block Tax Software- discount. Which version?
Replies: 5
Views: 741

Re: H+R Block Tax Software- discount. Which version?

I didn't see it on their website but I guess I missed it. Thanks! Here's the page for Basic: https://www.hrblock.com/tax-software/basic-tax-software/ There is a link on the right: "Requirements & Supported forms >" If you click the link it pops up a subwindow with a button to download a .pdf list o...
by vtMaps
Fri Dec 15, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: H+R Block Tax Software- discount. Which version?
Replies: 5
Views: 741

Re: H+R Block Tax Software- discount. Which version?

The basic software does virtually everything the premium version does. HR Block website has info on which versions of their software support which IRS forms. If you already know which forms you need, just look and see if Basic supports them.

--vtMaps
by vtMaps
Sat Nov 25, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 131
Views: 12542

Re: H&R Block Software

Does deluxe handle everything? We file schedule C with home office, depreciation etc. I am fine without the handholding as long as the forms are supported 100%. Does it import taxact? No way I am paying taxact $64 this year. We also do schedule C, home office, etc with Deluxe (not much hand-holding...
by vtMaps
Fri Nov 17, 2017 11:09 am
Forum: Personal Consumer Issues
Topic: Has used furniture dropped in value dramatically?
Replies: 119
Views: 11752

Re: Has used furniture dropped in value dramatically?

On the subject of furniture losing its value... has anyone tried to sell a piano lately?

--vtMaps :(
by vtMaps
Sat Nov 11, 2017 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: A penny saved is NOT a penny earned ..
Replies: 16
Views: 2516

Re: A penny saved is NOT a penny earned ..

If you earn, for example, $1,000 GROSS MORE from your job and put the net in the bank or pay down debt, your net is only about (give or take depending on marginal tax rate) $750.00. To have, net in pocket, you would need to earn about $1,333 MORE GROSS. But earning the extra $1,000 may increase you...
by vtMaps
Fri Nov 03, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Spousal Benefit Question
Replies: 4
Views: 649

Re: Social Security Spousal Benefit Question

It may (or may not) be better for her to switch to her own benefits now. Main thing is to maximize (by delaying until 70) the larger benefit (which I will presume is yours). In order to benefit from both of you delaying until 70, you must both live past her break even point. The chances are very goo...
by vtMaps
Fri Nov 03, 2017 8:47 am
Forum: Investing - Help with Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5023

Re: Accidentally bought $20,000 worth of I Bonds

One other consideration... if the 2nd transaction does go through (even if it is later reversed), is there enough money in the funding account to avoid overdraft issues?

--vtMaps
by vtMaps
Tue Oct 31, 2017 8:24 am
Forum: Personal Finance (Not Investing)
Topic: SS earnings limit with unpredictable earned income
Replies: 2
Views: 383

Re: SS earnings limit with unpredictable earned income

Check here: https://www.ssa.gov/OP_Home%2Fhandbook/handbook.18/handbook-toc18.html especially 1814 and 1822. Thanks, Penguin. From 1822 (emphasis mine): When you file your expected earnings report, you are encouraged to make a high estimate of earnings for the year. From When is an individual “at f...
by vtMaps
Tue Oct 31, 2017 4:33 am
Forum: Personal Finance (Not Investing)
Topic: SS earnings limit with unpredictable earned income
Replies: 2
Views: 383

SS earnings limit with unpredictable earned income

I am advising a friend who recently became widowed. She is 63. Her PIA is larger than that of her late husband. I have advised her to file for restricted survivor’s benefits with the intention of switching to her own retirement benefit at age 70. One thing I can’t explain to her (because I don’t und...
by vtMaps
Wed Oct 18, 2017 5:36 am
Forum: Personal Finance (Not Investing)
Topic: how long did it take to get used to retirement
Replies: 105
Views: 11415

Re: how long did it take to get used to retirement

I have been retired for about a decade. The question you ask doesn't make sense to me... I never really got used to working. I am so busy... I don't know how I ever found the time to work. I think retirement is my natural state.

--vtMaps
by vtMaps
Sun Oct 15, 2017 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes and withdrawal strategy in retirement
Replies: 7
Views: 1467

Re: Taxes and withdrawal strategy in retirement

Is your mom collecting social security? If so, how much? What is her AGI? Tax brackets are not simple when SS is involved. Depending on her AGI and her SS benefit, she probably has a 22.5% marginal bracket before she gets to a 15% bracket. She may benefit by 'saltatory decumulation'. That is, she ma...
by vtMaps
Sat Oct 14, 2017 11:54 am
Forum: Investing - Theory, News & General
Topic: IBonds - now or wait? [November 2017 rate]
Replies: 40
Views: 6735

Re: November 2017 - New I bond rate?

welderwannabe wrote:
Sat Oct 14, 2017 9:48 am
Am I to also understand that it is basically cast in stone that it is based exactly on the CPI rate as DH calculated
Yes.

--vtMaps
by vtMaps
Wed Oct 11, 2017 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Another SS Spousal Benefit Post
Replies: 5
Views: 685

Re: Another SS Spousal Benefit Post

Is it correct, that as soon as my wife turns 66 (FRA), I can (after applying to Social Security department) receive half of what she receives each month? And that I can receive this amount until I reach 66 (FRA) when at that time I would begin to receive my own SS? No. You cannot do what you are pr...
by vtMaps
Wed Oct 04, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Senior citizens can lose everything [to professional guardians via court rulings]
Replies: 111
Views: 10967

Re: Senior citizens can lose everything [to professional guardians via court rulings]

MathWizard wrote:
Tue Oct 03, 2017 2:45 pm
The ex parte part is what would have me most worried, and seems to violate due process.
+1. That is the essence of the problem. Our courts system is adversarial... it doesn't function fairly when only one side is represented.

--vtMaps
by vtMaps
Thu Sep 28, 2017 3:11 am
Forum: Personal Consumer Issues
Topic: $700 to install a dishwasher seem by a plumber?!
Replies: 65
Views: 5214

Re: $700 to install a dishwasher seem by a plumber?!

Our run-of-the mill dishwasher needs replacing and our condo requires the installation be done by a licensed plumber Maybe the problem here is semantics. In my mind, installing a dishwasher is different than replacing a dishwasher. Install means hookups (water, electric) need to be installed... tha...
by vtMaps
Thu Sep 28, 2017 2:54 am
Forum: Investing - Help with Personal Investments
Topic: Allocation in TIAA-CREF
Replies: 27
Views: 2483

Re: Allocation in TIAA-CREF

So can you leave money in the fund indefinitely (besides RMD, obviously), and if so, does the fact that it is an "annuity" have any ramifications on death? Would it transfer to a beneficiary just like IRA money? Or would it have no value like a single-life annuity? It behaves like a mutual fund and...