Search found 256 matches

by vtMaps
Thu Jun 22, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Income Tax Calculation?
Replies: 18
Views: 1620

Re: Income Tax Calculation?

I wanted to see the tax impact ( Federal + State) of prospectively taking additional withdrawals from our tIRA accounts in the event of planned & unplanned big ticket expense items . If you think your situation is bad now, wait until one of you passes. The survivor will have lower SS income, hi...
by vtMaps
Wed Jun 14, 2017 7:48 pm
Forum: Investing - Theory, News & General
Topic: The amount of mined gold is increasing fairly rapidly, IMO
Replies: 22
Views: 1415

Re: The amount of mined gold is increasing fairly rapidly, IMO

I don't know all the particulars of where and how modern gold mining happens, but in fact, the amount of gold being mined nowadays, in comparison to the total amount already mined/available, is, IMO, fairly high. i.e. The rate by which the gold supply is growing is non-trivial. <snip> So, let's tak...
by vtMaps
Mon Jun 12, 2017 10:07 am
Forum: Personal Consumer Issues
Topic: Ally Website and Mobile Banking Down???
Replies: 14
Views: 1365

Re: Ally Website and Mobile Banking Down???

I think they're down again. I called customer service (with a projected 3 minute wait. While I was waiting the projected wait time kept increasing. I hung up when the wait grew to 10 minutes.

--vtMaps
by vtMaps
Sat Jun 10, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4060

Re: Is there a calculator that solves for optimal Roth conversion

...Note that the best solution that I've found with my spreadsheets does not have a uniform draw down for the 4 years. --vtMaps This is quite odd. We have a progressive FIT system, so it's generally better (less taxing) to have steady income year to year, rising by no more than a few percent, vs ha...
by vtMaps
Sat Jun 10, 2017 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4060

Re: Is there a calculator that solves for optimal Roth conversion

I looked over all the available calculators but I could not see one that solved for the size of recommended Roth conversions by year while also checking that 1) the Roth savings are not offset by taxing SS at 85%, 2) minimizing the loss of ACA credits, 3) losing tax free long term capital gains whe...
by vtMaps
Fri Jun 09, 2017 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Cash Management Account--any real life experience you can share?
Replies: 31
Views: 4841

Re: Fidelity Cash Management Account--any real life experience you can share?

Also, Fidelity doesn't operate an FDIC-Insured Bank itself but acts as the Bank Cash Manager. They work with about 15 FDIC insuranced banks - including big names like Wells Fargo, US Bank, HSBC, Citibank, etc. which is where your money is held. Depending on how much money you have in the Fidelity C...
by vtMaps
Wed Jun 07, 2017 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Can I tax loss harvest and then buy the same thing again?
Replies: 14
Views: 713

Re: Can I tax loss harvest and then buy the same thing again?

Correct, just transfer the $$ into VOO and you'll be fine: a valid tax loss harvested and never out of the market... Yes, but as mortfree points out, if your other shares of VTI are set to reinvest dividends, that may cause a wash sale even if you replace (some of) the VTI with VOO. And by the way,...
by vtMaps
Sun Jun 04, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Can anyone help re: calculating income for ACA eligibility?
Replies: 23
Views: 1152

Re: Can anyone help re: calculating income for ACA eligibility?

First of all, if you get it wrong (your estimated income) it will be reconciled when you do your taxes. When you apply for exchange health insurance, there will be a questionnaire about your income. If you feel that your past income is not a good estimate for this year, you can explain and request a...
by vtMaps
Sun Jun 04, 2017 6:46 am
Forum: Personal Finance (Not Investing)
Topic: When to take Social Security, SSAnalyze, and the TVM?
Replies: 16
Views: 1814

Re: When to take Social Security, SSAnalyze, and the TVM?

it is his age that has the most importance, not mine. I can raise my age higher and higher and the calculator still recommends I begin at 62. If I raise his age higher than 90, then it recommends we both begin SS at 70. I have also noticed that about I-ORP. I think it's terrible advice. As Chip poi...
by vtMaps
Thu Jun 01, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Saltatory decumulation as a tax strategy.
Replies: 7
Views: 1046

Re: Saltatory decumulation as a tax strategy.

It almost never makes sense to take more than the RMD, unless you actually need more than the RMD to cover expenses. In virtually all other cases, a Roth conversion would be a better use for amounts above the RMD. Of course, if we withdraw more than RMD it will go to roth conversion. Virtually all ...
by vtMaps
Thu Jun 01, 2017 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Saltatory decumulation as a tax strategy.
Replies: 7
Views: 1046

Re: Saltatory decumulation as a tax strategy.

Thanks, I looked at I-ORP once before, but I don't remember it being able to strategize like in my example. Would it tell me to withdraw 72,845 for two years and 32,525 for two years?

I will look again at I-ORP.

--vtMaps
by vtMaps
Thu Jun 01, 2017 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Saltatory decumulation as a tax strategy.
Replies: 7
Views: 1046

Saltatory decumulation as a tax strategy.

For many folks, the early years of retirement, before SS and RMDs, are the optimal time to do roth conversions. We will only have one year to do this (squeezed between Obamacare and SS spousal benefits). During our Obamacare years our marginal income tax rate was/is 15%. But the phaseout of Premium ...
by vtMaps
Wed May 31, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance options
Replies: 33
Views: 3162

Re: Umbrella Insurance options

So in line with this whole discussion....I'm currently carrying high liability limits on auto insurance due to two teenage drivers. Since umbrella policy kicks in after auto insurance limits would it make sense to drop current auto liability to lowest legal level to reduce cost of policy and let th...
by vtMaps
Wed May 31, 2017 3:21 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance options
Replies: 33
Views: 3162

Re: Umbrella Insurance options

From what I understand, it is unlikely that either company will sell me an umbrella policy because I'm only buying one of the two (auto, home) from them. At least that is what I took away from the conversation. Has anyone in my situation managed to get an umbrella policy? I didn't, but could have. ...
by vtMaps
Tue May 30, 2017 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance options
Replies: 33
Views: 3162

Re: Umbrella Insurance options

We have home, autos, and umbrella with state farm. $2 million umbrella is $217 per year. A couple of months ago I got a quote on auto insurance and umbrella from geico. Their auto insurance was half what we are paying now, but their umbrella was over $500 per year, and they don't offer home owner's ...
by vtMaps
Tue May 30, 2017 4:16 am
Forum: Personal Finance (Not Investing)
Topic: Bedrock Capital's SSAnalyze is really buggy
Replies: 7
Views: 668

Re: Bedrock Capital's SSAnalyze is really buggy

I just used your example and in fact got a result with Jane filing a restricted application (I had previously done illustrations for friends born in 1953 and remembered that it worked fine). The present value was $1,129,000. The program used ages at death of 87(John) and 91(Jane) after I input the ...
by vtMaps
Mon May 29, 2017 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Bedrock Capital's SSAnalyze is really buggy
Replies: 7
Views: 668

Re: Bedrock Capital's SSAnalyze is really buggy

Chip, thanks for the probably correct explanation. I'm not sure if the other anomalies I've found are separate issues or are a manifestation of the rounding errors. With the second error, I think the problem is that the calculator "knows" that it is May 2017, so it won't allow a filing cla...
by vtMaps
Mon May 29, 2017 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Bedrock Capital's SSAnalyze is really buggy
Replies: 7
Views: 668

Bedrock Capital's SSAnalyze is really buggy

I have seen a number of threads on this forum mention Bedrock Capital’s ‘SSAnalyze’ online calculator. I tried it out and I think there are some serious bugs in it. In this post, I will present two scenarios that clearly demonstrate some of the problems I see. Consider the following married couple: ...
by vtMaps
Sun May 28, 2017 6:20 am
Forum: Investing - Help with Personal Investments
Topic: Withdrawal questions
Replies: 10
Views: 1291

Re: Withdrawal questions

Also, how would you handle the taxes – will Vanguard automatically take out needed taxes and send to IRS (25% tax bracket)? Pay quarterly? End of year? Like you, I don't know at the beginning of a year how much money I will need to withdraw from an IRA. I take what I need monthly and have no taxes ...
by vtMaps
Sat May 27, 2017 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Avoiding Taxes with RMD
Replies: 59
Views: 6696

Re: Avoiding Taxes with RMD

I haven't seen it mentioned yet in this thread, but have you considered solar tax credits? If you install a renewable energy system before 2020, you can take a tax credit for 30% of your cost. The credit is on the entire cost of the system, including batteries (if you want batteries) and labor. --vt...
by vtMaps
Wed May 24, 2017 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity customer protection guarantee-void if you use Mint?
Replies: 39
Views: 3031

Re: Fidelity customer protection guarantee-void if you use Mint?

Is the issue of giving your passwords to an aggregator (such as Mint) any different than the issue of giving those passwords to password management software?

Either way you are trusting the security of your financial passwords to software that may have vulnerabilities.

--vtMaps
by vtMaps
Tue May 16, 2017 3:27 am
Forum: Investing - Help with Personal Investments
Topic: Has anyone sold TIPS prior to maturity
Replies: 21
Views: 1304

Re: Has anyone sold TIPS prior to maturity

jebmke wrote:We bought a slug of Tips in October 2008. The real rate was around 3%. At some point, the rate dropped below 1% and I sold about half the holding for a large gain.

I thought the real rate of a TIPS was fixed for the life of the bond. Am I confused and/or misinformed?

--vtMaps
by vtMaps
Thu May 11, 2017 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Bank account with advanced features
Replies: 9
Views: 1123

Re: Bank account with advanced features

This doesn't exactly answer your question, but it may help you achieve your goals... The fidelity cash management account is a brokerage account without margin. The FDIC checking account is the sweep in that account. You can keep a balance of $0 in the sweep and when you write checks, they will sell...
by vtMaps
Wed May 10, 2017 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Geico Homeowners Ins went up 11%
Replies: 25
Views: 2660

Re: Geico Homeowners Ins went up 11%

If you had a home with a RC of 400k, the losses up to 100k will total the highest, losses from 100k to 200k next, then 300 to 400k. Very few losses would ever exceed 300k. So if the company wrote a RC policy of 100k on this home, they would get 1/4 of the premium and probably more than 3/4 of the l...
by vtMaps
Tue May 09, 2017 7:04 am
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefits
Replies: 13
Views: 1518

Re: SS Survivor Benefits

I am waiting until next year to collect the maximum Social Security Benefit at age 70. If I predecease my wife, will she receive the full amount of my Social Security benefit (assuming it is the larger than her benefit)? Yes, assuming you live to age 70. If you die before you start collecting benef...
by vtMaps
Sun May 07, 2017 6:03 am
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5238

Re: Ally 1 Day Transfer

I have had an Ally savings account for several years and noticed in January that my transfers were speeded up and completed in a day. I also have an Ally checking account which I opened more recently. I did an ACH transfer from the checking account to my local bank a few weeks ago, and it took 3 day...
by vtMaps
Thu Apr 27, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Can a reluctant executor simply reassign the role?
Replies: 31
Views: 2406

Re: Can a reluctant executor simply reassign the role?

Also you suggested that your sister might be willing to relinquish her role. I I don't think the executor is the OP's sister. I (an only child) settled two diff estates (my late parents who were divorced with separate affairs.) My best guess is that the OP refers to her father-in-law as "Dad&q...
by vtMaps
Thu Apr 27, 2017 9:15 am
Forum: Personal Finance (Not Investing)
Topic: IRA rollover into 401k
Replies: 24
Views: 489

Re: IRA rollover into 401k

It doesn't all make sense.... some of it might make sense... Is all the money in the traditional IRA pretax money? If some of your IRA contributions (in ANY of your non-roth IRAs) were after tax contributions, then there might be some other issues to consider.

--vtMaps
by vtMaps
Mon Apr 24, 2017 9:17 am
Forum: Investing - Help with Personal Investments
Topic: What about a longevity (deferred) annuity with a fixed rate?
Replies: 5
Views: 566

Re: What about a longevity (deferred) annuity with a fixed rate?

Any thoughts on this type of annuity to fund now, at 52? Should I wait to fund it, say around 62 or older? Thanks! Wait until you need an annuity, then by an immediate annuity. If you buy now, at a fixed rate, you could face years of inflation before you begin collecting. It's one thing to buy an i...
by vtMaps
Tue Apr 18, 2017 6:31 pm
Forum: Investing - Theory, News & General
Topic: What is the max SS income you could receive this year?
Replies: 38
Views: 4389

Re: What is the max SS income you could receive this year?

Everyone born the same year reaches FRA in the same year and turns 70 in the same year. They will all get the same maximum-maximum for whatever it is for that year. Maybe. If two folks turn 70 today and begin benefits today, I think they could have different maximums. The reason is that they may no...
by vtMaps
Thu Apr 13, 2017 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Social security: restricted application and spousal benefits
Replies: 6
Views: 701

Re: Social security: restricted application and spousal benefits

but reps at the SS office keep telling my mother in law "no" and I want to make sure that I am correct. You are correct. There is a thread somewhere about how to make a restricted application online. If the reps are not up to speed, then perhaps an online application will be the path of l...
by vtMaps
Fri Mar 31, 2017 5:35 am
Forum: Investing - Help with Personal Investments
Topic: Withdrawing Early from Roth without Penalty
Replies: 5
Views: 663

Re: Withdrawing Early from Roth without Penalty

How does it work if I want to withdraw say 5k from my Roth when all I hold is ETFs (hypothetically of course-- I won't actually do this unless there is a big emergency)? I'm not sure exactly what you are asking... If you want to withdraw money you must sell some of the ETF and then withdraw the cas...
by vtMaps
Mon Mar 27, 2017 5:16 am
Forum: Investing - Help with Personal Investments
Topic: Moving TIAA CREF out of money market
Replies: 16
Views: 1474

Re: Moving TIAA CREF out of money market

The traditional also has this disclaimer. Are there scenarios where this could be a problem? <snip> Yes, I suppose. In return for guaranteed growth and a few other good features, you give up some liquidity. 50% of my contributions went into Traditional. I decided at age 55 that I would not annuitiz...
by vtMaps
Sun Mar 26, 2017 7:04 pm
Forum: Investing - Help with Personal Investments
Topic: Moving TIAA CREF out of money market
Replies: 16
Views: 1474

Re: Moving TIAA CREF out of money market

Springbok wrote:I'm new to investing. I'm leaning toward being more conservative, but not too much.


In that case use your 403b to buy TIAA traditional and TREA (tiaa real estate), and put your stock allocation in a traditional or roth IRA.

--vtMaps
by vtMaps
Fri Mar 24, 2017 5:09 am
Forum: Investing - Help with Personal Investments
Topic: Moving TIAA CREF out of money market
Replies: 16
Views: 1474

Re: Moving TIAA CREF out of money market

I looked at your links... ouch! not a lot of low cost choices, and no total market equities. Those are your 403b choices, I presume. You have lousy choices, but a 50% employer match cannot be ignored. Perhaps use the 403b for fixed income and TIAA real estate. TIAA real estate is unique, and it's NO...
by vtMaps
Thu Mar 23, 2017 6:16 am
Forum: Investing - Help with Personal Investments
Topic: Moving TIAA CREF out of money market
Replies: 16
Views: 1474

Re: Moving TIAA CREF out of money market

More important, in my opinion, than a list of your options is for you to tell us about your risk tolerance. Your ability (as yet untested) to wisely handle bear markets should be a major determinant of the investments you choose. If you make poor decisions in a bear market (and many folks do) you ca...
by vtMaps
Sun Mar 19, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: 2.25% High Yield Checking - FSCU
Replies: 11
Views: 1869

Re: 2.25% High Yield Checking - FSCU

2.25% on $20,000 is $450 a year. If you can jump through the hoops easily without disrupting your life, sure, why not? But don't expect it to last. I see it as $250 per year because you can easily get 1% without jumping through any hoops. And all the money you spend with checks or debit cards is mo...
by vtMaps
Fri Mar 10, 2017 4:49 pm
Forum: Investing - Theory, News & General
Topic: When is tax due on IRA distribution?
Replies: 14
Views: 911

Re: When is tax due on IRA distribution?

How are you going to withhold at the end of the year if you aren't going to have any more income for the year? In December I figured that our scant withholding was insufficient to avoid penalties for underpayment. Solution: Take an IRA distribution of about $3000 and withhold 80% for federal and 20...
by vtMaps
Fri Mar 10, 2017 4:20 pm
Forum: Investing - Theory, News & General
Topic: When is tax due on IRA distribution?
Replies: 14
Views: 911

Re: When is tax due on IRA distribution?

An IRA distribution is taxable income for the year in which it is distributed and taxes will be due on April 15 of the following year. However, the WITHHOLDING for your taxes should try to match the quarter in which it was received. If all your income for the year arrives in December, you should wi...
by vtMaps
Fri Mar 03, 2017 1:55 am
Forum: Investing - Theory, News & General
Topic: Using Ibonds to build cash reserves
Replies: 28
Views: 3514

Re: Using Ibonds to build cash reserves

The idea for this post grew out of the post about IBonds (Treating I-Bonds as Long-term Bond Holdings) <snip> Does anyone see a downside to buying IBonds as cash equivalents? Does anyone have a better idea? I think that at current fixed rates, ibonds should not be used as long-term retirement asset...
by vtMaps
Sat Feb 25, 2017 9:59 am
Forum: Investing - Help with Personal Investments
Topic: Early Soc Sec or spend down investments/assets?
Replies: 28
Views: 2871

Re: Early Soc Sec or spend down investments/assets?

Because of the rule changes, you can no longer file and suspend. Your wife can collect spousal benefits only after you begin collecting your benefits. The spousal benefits that your wife receives will max out when she reaches FRA. Her benefits are not a function of when you begin your own benefits. ...
by vtMaps
Wed Feb 15, 2017 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

Re: UPDATED: Confirmed H&R Block chokes on Line 29

Have you resolved the issue that the policies were not issued your wife's name (or business) and therefore not eligible for the SE health deduction? No. The Vermont exchange is in serious dysfunction. I tried 5 times during 2016 to get them to raise our estimated income. They weren't able to do it ...
by vtMaps
Tue Feb 14, 2017 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

Re: UPDATED: Confirmed H&R Block chokes on Line 29

I have not used the H and R Block software. But can't you just enter the 1095-a information all together? I mean just combine the information from the two 1095-A forms? The 1095-A is not like the W-2. It does not get sent to the IRS as part of your return. It is only used to properly fill out the t...
by vtMaps
Tue Feb 14, 2017 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

UPDATE-- Confirmed that H&R Block chokes on Line 29

Update: I just finished a marathon online chat session with H&R Block. I did it at MacDonalds (internet at home is too slow for a chat). I even ate some of their food :o I finally figured out what's wrong with their software and they confirmed that I must override their software and that I canno...
by vtMaps
Wed Feb 08, 2017 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

Re: H&R Block chokes on Line 29

I am not saying this is the problem, but did she per chance take the full net-self-employment income as a solo 401k contribution deduction on line 28. She has no solo 401k. I am working on my spreadsheet. We vastly underpaid our health premiums in 2016. My wife got a good contract and we expected h...
by vtMaps
Wed Feb 08, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

Re: H&R Block chokes on Line 29

My wife is the sole proprietor and she was on the exchange for 12 months. I was on the exchange for 10 months and then on medicare. My 10 months on the exchange are factored into the deduction. Can we add MY medicare and medigap premiums to the amount of HER self-employed healthcare deduction? --vt...
by vtMaps
Wed Feb 08, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

Re: H&R Block chokes on Line 29

enter the *full premium* before any advanced credit as the premiums paid. Under Federal -> Taxes -> Health Care Coverage, enter the full premium, second lowest silver, and the advanced credit. Thanks for putting the emphasis on *full premium*. I think I didn't enter the *full premium* as shown on 1...
by vtMaps
Wed Feb 08, 2017 9:57 am
Forum: Personal Finance (Not Investing)
Topic: UPDATED: Confirmed H&R Block chokes on Line 29
Replies: 20
Views: 2823

UPDATED: Confirmed H&R Block chokes on Line 29

I just got off the phone with H&R Block... My wife is self employed sole proprietor. We bought health insurance on the exchange. We want to take a Line 29 self-employed health care premium deduction. For those that don't know... the deduction lowers the AGI. Lower AGI means more subsidy (premium...
by vtMaps
Sun Jan 22, 2017 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Linking Ally to Vanguard
Replies: 7
Views: 1133

Re: Linking Ally to Vanguard

Thanks guys, push vs. pull - still getting used to online banking :happy Me too. I don't have accounts at Vanguard, but my impression (Fidelity, Ally, and others) is that 'pulled' money is not immediately available to invest. If you use Vanguard to pull money from Ally, how soon can you invest it? ...
by vtMaps
Wed Jan 11, 2017 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: Help with decumulation of bonds and stable value.
Replies: 2
Views: 254

Re: Help with decumulation of bonds and stable value.

Bonds are down? They are up 1% this year. Your bonds are down from what point? The highwater mark or something else? Aren't they up for the past 12 months? Your points are well taken, thanks. I only look at my portfolio quarterly, and bonds look to be down since my 2nd and 3rd quarter statements. -...

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