Search found 74 matches

by winski58
Tue Jun 27, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Retiree Health Care with/Medicare
Replies: 51
Views: 2948

Re: Federal Retiree Health Care with/Medicare

DW and I have been enrolled with BCBS Basic for more than 25 years and are enrolled with Aetna Direct and added Part B, effective July 1,2017. Premiums DW $1608 (Part B premium) ME $2251 (Part B premium - penalty for late enrollment at age 69) Aetna Direct $3158 Subtotal $7,017 Aetna Reimb. $1,800 (...
by winski58
Mon Jun 26, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: RMD and Annuity Life Expectancy Tables
Replies: 6
Views: 707

Re: RMD and Annuity Life Expectancy Tables

Are the same Life Expectancy Tables used for both RMD and Annuity Exclusion Ratio calculations? No. Life expectancy for required distributions is slightly longer than for annuities. This is because people who buy annuities are self selected as people who expect to live a longer than average life. R...
by winski58
Sun Jun 25, 2017 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: RMD and Annuity Life Expectancy Tables
Replies: 6
Views: 707

RMD and Annuity Life Expectancy Tables

Are the same Life Expectancy Tables used for both RMD and Annuity Exclusion Ratio calculations?
by winski58
Fri Jun 23, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Question
Replies: 12
Views: 1289

Re: TSP Question

Yes, you can do a partial withdrawal and then later set up monthly payments to cover your RMDs. You can also withdraw your entire remaining balance at any time after you start the monthly payments. What you cannot do is take a partial lump sum withdrawal and then a second partial lump sum withdrawa...
by winski58
Fri Jun 23, 2017 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional or G Fund
Replies: 10
Views: 502

Re: TIAA Traditional or G Fund

Thanks for your input. I should not have assumed responders knowledge relating to the restricted nature of TSP withdrawals. And my rational was to use ALLY as a temporary vehicle to fund expenses over the next three years and also to convert some of the surplus to a Roth and use as an emergency fund...
by winski58
Thu Jun 22, 2017 8:23 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional or G Fund
Replies: 10
Views: 502

Re: TIAA Traditional or G Fund

Sorry, I should have mentioned that this rollover is considerably more than we need per year to supplement expenses. Plan is to start converting the surplus to a ROTH or withdraw from the IRA to taxable funds used for emergencies and play money in the future. Trying to avoid the social security tax ...
by winski58
Thu Jun 22, 2017 7:59 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional or G Fund
Replies: 10
Views: 502

Re: TIAA Traditional or G Fund

ALLY IRA CDs and Savings.
by winski58
Thu Jun 22, 2017 7:47 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional or G Fund
Replies: 10
Views: 502

TIAA Traditional or G Fund

We will be doing a partial rollover used to help fund our budget over the next three years that will allow my DW to delay social security until 70. We have 2 options, TIAA Traditional liquid account or TSP G-Fund. We are leaning toward the G-Fund as the return is currently 2.25% vs TIAA Traditional ...
by winski58
Tue Jun 20, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Question
Replies: 12
Views: 1289

Re: TSP Question

Yes, you can do a partial withdrawal and then later set up monthly payments to cover your RMDs. You can also withdraw your entire remaining balance at any time after you start the monthly payments. What you cannot do is take a partial lump sum withdrawal and then a second partial lump sum withdrawa...
by winski58
Tue Jun 20, 2017 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: TSP Question
Replies: 12
Views: 1289

TSP Question

I am turning 70 in December and plan to transfer/rollover a portion of my TSP account to an IRA Traditional account this fall. I was told by a TSP customer service rep. that this can be done via a TSP-77 form. He also stated that only one partial distribution is allowed and the remaining balance mus...
by winski58
Mon Jun 19, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Tax Payments
Replies: 8
Views: 738

Re: Roth Conversion Tax Payments

Can the tax payments for the RMD be spread over 4 quarters if the total RMD is distributed to the checking account in January?
by winski58
Mon Jun 19, 2017 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Tax Payments
Replies: 8
Views: 738

Roth Conversion Tax Payments

Consider the following: RMD from 401k for 2018 divided by 12 and distributed on the 15th of every month from January thru December to checking account. Additional amount transferred via ROTH conversion in December 2018. Total income tax calculated via TaxCaster for projected income, including RMD (b...
by winski58
Mon Jun 19, 2017 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Income Tax Calculation?
Replies: 18
Views: 1655

Re: Income Tax Calculation?

I just entered (using TaxCaster) $20,000 in long-term capital gains/qualified dividends instead of taking an extra $20,000 from 401k and the tax is $7,154. So selling a few shares from my after-tax mutual fund appears to be a much better strategy. Is this because a long-term capital gain or stock qu...
by winski58
Sun Jun 18, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Income Tax Calculation?
Replies: 18
Views: 1655

Re: Income Tax Calculation?

The additional 20K distribution will cause more of your SS to be subject to taxation and therefore your AGI and taxable income go up by more than $20K. More explanation here: https://www.kitces.com/blog/the-taxation-of-social-security-benefits-as-a-marginal-tax-rate-increase/ Thanks...This may chan...
by winski58
Sun Jun 18, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Income Tax Calculation?
Replies: 18
Views: 1655

Income Tax Calculation?

Filing joint return. Here are the numbers: SS 62,374 RMD 30,265 Pension 4,860 Gross 97,499 Tax 4,604 (TaxCaster) SS 62,374 RMD 30,265 Distribution 20,000 Pension 4,860 Gross 117,499 Tax 10,154 (TaxCaster) Question: Why does an additional $20,000 distribution increase the total tax by so much when we...
by winski58
Thu Jun 01, 2017 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Inflation and Social Security Adjustments?
Replies: 3
Views: 375

Inflation and Social Security Adjustments?

I am trying to project via a spreadsheet our Social Security and Federal Pension COL adjustments from age 70 to 100. Also need an average projected inflation rate for the budget row. I am assuming the COL adjustments will be considerably lower than the inflation rate used in the budget row. Would li...
by winski58
Sat Jan 14, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: "Unsuspending" Social Security Benefits
Replies: 16
Views: 1676

Re: "Unsuspending" Social Security Benefits

The key point here is whether or not the person has filed. If you haven't filed for benefits by 70, they don't start automatically. Conversely, if you did file -- but you have suspended your benefits -- they will unsuspend automatically at 70. Regarding automatic retroactive filing: For a person fi...
by winski58
Fri Jan 13, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: "Unsuspending" Social Security Benefits
Replies: 16
Views: 1676

Re: "Unsuspending" Social Security Benefits

I just found a letter from SS when I filed and suspended at 66. Here is a quote: "As requested, we will not pay you beginning November 2013 in order to earn special credits that will increase the benefits you will receive at age 70. We will reinstate your benefits at age 70, adding the special ...
by winski58
Fri Jan 13, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: "Unsuspending" Social Security Benefits
Replies: 16
Views: 1676

Re: "Unsuspending" Social Security Benefits

...or do they start automatically the month you reach age 70?
by winski58
Fri Jan 13, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: "Unsuspending" Social Security Benefits
Replies: 16
Views: 1676

"Unsuspending" Social Security Benefits

I suspended SS benefits at 66 and will apply (unsuspend) this year for benefits when I turn 70 in November. Can this be done online or will it require a phone call or visit to the SS office?
by winski58
Thu Dec 29, 2016 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: Where is my 401K?
Replies: 8
Views: 799

Re: Where is my 401K?

livesoft wrote:Well, Son, what are YOU going to do about this? You made it through medical school, so this should be easy to figure out.

I posted this after a casual conversation with my son and without him knowing about my request. Your sarcasm serves no purpose.
by winski58
Thu Dec 29, 2016 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Where is my 401K?
Replies: 8
Views: 799

Where is my 401K?

My son is a physician at a hospital that was recently acquired by a major health system. As of October 1, his 401k contributions were stopped. He called his 401k provider and was told that a check was sent to the new 401k provider. He called the new provider and they had no account or information in...
by winski58
Mon Oct 17, 2016 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal and Delayed Credits
Replies: 3
Views: 374

Re: Spousal and Delayed Credits

thank you for your response...comforting to know!
by winski58
Mon Oct 17, 2016 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Spousal and Delayed Credits
Replies: 3
Views: 374

Spousal and Delayed Credits

My wife will be 66 in February and filing a Restricted (Spousal) SS application. I am approaching 69 and delaying SS until 70. I am interested in determining her options if I died while she is drawing spousal. 1) Can she continue to draw spousal until she is 70 so that she can increase her own benef...
by winski58
Sun Nov 01, 2015 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 55571

Re: Changes to Social Security

Spouse A will be 68 in Dec 2015. Spouse B will be 65 in March 2016. Spouse A filed and suspended @ FRA and will delay until 70. Spouse B was (before new law) going to file restricted and collect spousal @ FRA and start her own benefit @70. Assumption with new law: Spouse B will not be able to start...
by winski58
Sun Nov 01, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 55571

Re: Changes to Social Security

Spouse A will be 68 in Dec 2015. Spouse B will be 65 in March 2016. Spouse A filed and suspended @ FRA and will delay until 70. Spouse B was (before new law) going to file restricted and collect spousal @ FRA and start her own benefit @70. Assumption with new law: Spouse B will not be able to start...
by winski58
Sun Nov 01, 2015 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 55571

Re: Changes to Social Security

Spouse A will be 68 in Dec 2015. Spouse B will be 65 in March 2016. Spouse A filed and suspended @ FRA and will delay until 70. Spouse B was (before new law) going to file restricted and collect spousal @ FRA and start her own benefit @70. Assumption with new law: Spouse B will not be able to start ...
by winski58
Sun Jun 28, 2015 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Drawing from Retirement Savings to Delay SS
Replies: 43
Views: 5304

Re: Drawing from Retirement Savings to Delay SS

1. How much of your retirement savings in percentages do you plan on depleting in order to fund your delay? 17% 2. Are you currently delaying? Yes, for six years when spouse is 70 and I am 73. 3. Will/does the performance of your portfolio change your savings withdrawal strategy? No, all funds other...
by winski58
Mon Apr 27, 2015 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Advice in Interim Strategy
Replies: 2
Views: 430

Re: Advice in Interim Strategy

thank you, Mr. Larimore.
by winski58
Mon Apr 27, 2015 10:58 am
Forum: Investing - Help with Personal Investments
Topic: Advice in Interim Strategy
Replies: 2
Views: 430

Advice in Interim Strategy

My wife and I will be retired as of June 2015. She is 67 and I am 64. Our plan is to draw down $140,000 of our IRA over the next 6 years. This will allow both of us to draw the maximum Social Security amount at age 70. Our IRA balance is $850,000 invested in TSP GFund, TIAA Traditional and $140,000 ...
by winski58
Wed Jan 21, 2015 3:19 pm
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 73
Views: 13606

Re: The "Less Than" a Million $ Club

This is a tricky question and club. At the start of retirement two years ago, I "transitioned" a portion of my investible assets into a lifetime annuity with COLA pension-like characteristics. Once I start SS in a few years, my retirement income should be well in excess of my "needs....
by winski58
Wed Jan 21, 2015 12:09 pm
Forum: Investing - Theory, News & General
Topic: "When you've won the game, stop playing"
Replies: 83
Views: 11597

Re: "When you've won the game, stop playing"

Bill, My wife and I will be retired this year. Our plan is to delay SS until we are 70. (she will claim spousal benefits while I collect full benefits for about 3 years) We will be drawing down our investments for the next 6 years and all funds will be allocated to no risk categories. We will shift ...
by winski58
Sun Dec 21, 2014 9:11 am
Forum: Personal Consumer Issues
Topic: What makes you happy in life?
Replies: 29
Views: 3157

Re: What makes you happy in life?

Being in the moment.
by winski58
Thu Nov 27, 2014 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating & Paying Taxes Jointly?
Replies: 9
Views: 1031

Re: Estimating & Paying Taxes Jointly?

Got it...thanks all.
by winski58
Thu Nov 27, 2014 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating & Paying Taxes Jointly?
Replies: 9
Views: 1031

Re: Estimating & Paying Taxes Jointly?

CABob wrote:Have you considered getting a late in the year withdrawal from your IRA and taking tax withholding from it? This would alleviate making the estimated quarterly payments.


I believe the IRS requires quarterly payments or imposes a penalty.
by winski58
Thu Nov 27, 2014 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Estimating & Paying Taxes Jointly?
Replies: 9
Views: 1031

Re: Estimating & Paying Taxes Jointly?

Just found this: "With all the benefits of electronic payments, it’s almost a no-brainer to sign up. Thankfully, setup and execution are easy (the entire process should take less than 10 minutes). Before you start you will need to gather your financial information including your Taxpayer Identi...
by winski58
Thu Nov 27, 2014 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Estimating & Paying Taxes Jointly?
Replies: 9
Views: 1031

Estimating & Paying Taxes Jointly?

My wife and I will be taking distributions in 2015 from her IRA and from my 401K. Our plan is to use the EFTPS to make the quarterly payments. We will be filing a joint return. My question is: Do we need to calculate our tax payments separately and submit 2 payments (via EFTPS) each quarter? Does th...
by winski58
Thu Nov 13, 2014 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Home Equity Loan Interest Paymant Calculation
Replies: 6
Views: 605

Re: Home Equity Loan Interest Paymant Calculation

Received a call back from the credit union and they said that prepayments are treated as regular payments and not principal reductions unless they are entered as principal reductions . If prepayments are not entered as principal reductions, they process them as payments in the appropriate future mon...
by winski58
Wed Nov 12, 2014 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Home Equity Loan Interest Paymant Calculation
Replies: 6
Views: 605

Re: Home Equity Loan Interest Paymant Calculation

I am awaiting a return call from the credit union.
by winski58
Wed Nov 12, 2014 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Home Equity Loan Interest Paymant Calculation
Replies: 6
Views: 605

Home Equity Loan Interest Paymant Calculation

Shouldn't my Credit Union be subtracting additional payments directly from the principal and not charging interest for those over-payments if they are made within the same month? (payment cycle)
by winski58
Mon Oct 06, 2014 3:46 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Brokerage Account for TIPS purchase?
Replies: 6
Views: 904

Vanguard Brokerage Account for TIPS purchase?

My wife and I are thinking about opening Vanguard brokerage accounts. Our initial plan is to sell some of the mutual funds in our existing Vanguard Roth and Traditional IRA's to purchase TIPS - But want to make sure we understand the ramifications. Please comment/clarify the following assumptions/qu...
by winski58
Sun Sep 28, 2014 8:12 am
Forum: Investing - Theory, News & General
Topic: Why do people buy annuities?
Replies: 125
Views: 17645

Re: Why do people buy annuities?

Our plan is simple. Social Security and a small pension will be more than enough for the needs. When on of us dies, the other will purchase a single-life annuity for the deficit.
by winski58
Tue Sep 23, 2014 11:27 am
Forum: Investing - Help with Personal Investments
Topic: SS Calculation Question
Replies: 5
Views: 1265

Re: SS Calculation Question

Thanks for 3 great responses. The wealth of knowledge from this forum never ceases to amaze me.
by winski58
Mon Sep 22, 2014 6:12 pm
Forum: Investing - Help with Personal Investments
Topic: SS Calculation Question
Replies: 5
Views: 1265

SS Calculation Question

I just checked "My Social Security" online and read the following statement related to the current benefit calculation: "We assumed you'll continue to work and make about the same as you did in 2012 or 2013. My wife is considering an early out @ 64 instead of FRA @ 66. She is planning...
by winski58
Wed Jun 25, 2014 5:09 pm
Forum: Investing - Help with Personal Investments
Topic: SPIA and Inflation Interview
Replies: 9
Views: 902

SPIA and Inflation Interview

Would anyone care to explain to me what Lew Mandell is trying to convey in this interview? The following is from a PBS interview. Paul Solman: But suppose I put all my savings into a life annuity and inflation skyrockets? Lew Mandell: I hope that a major contribution of my book is its focus on minim...
by winski58
Tue Feb 25, 2014 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Canceling Verizon Service
Replies: 18
Views: 2592

Re: Canceling Verizon Service

This is for Verizon Wireless. I am canceling service for this phone...not changing service as I have another phone with a separate contract.
by winski58
Tue Feb 25, 2014 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Canceling Verizon Service
Replies: 18
Views: 2592

Canceling Verizon Service

Verizon makes it as difficult as possible to cancel their services. My contract ends of 3/11/2014. Can't cancel on-line, must call in person. On hold for several minutes. First call resulted in rep saying "call back but must be less than 30 days prior to contract end date. Second call resulted ...
by winski58
Fri Feb 07, 2014 3:10 pm
Forum: Personal Consumer Issues
Topic: I'm feeling old today
Replies: 97
Views: 8927

Re: I'm feeling old today

I was seven when we got our first television. I remember The Life of Riley, Sgt. Bilco and Ozzie and Harriet. Gunsmoke was the most "violent." Reminds me of how different it was to grow up in that era. We definitely "grew up" a lot slower.
by winski58
Thu Jan 16, 2014 7:37 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional vs. Bonds - What would you choose?
Replies: 44
Views: 4611

Re: TIAA Traditional vs. Bonds - What would you choose?

I have all of my fixed income in the TIAA Traditional. Caution: An SRA (Supplemental Retirement Account) is liquid. The RA (Retirement Account) is not and must be converted to a TPA (Transfer Payout Annuity) and is paid out over a 10 year period.
by winski58
Mon Jan 13, 2014 11:45 am
Forum: Investing - Help with Personal Investments
Topic: Esimated Tax Payments?
Replies: 6
Views: 796

Esimated Tax Payments?

I assumed you could pay the tax on retirement distributions when you filed your tax return. But the following quote from TaxAct is ambiguous. Are quarterly tax payments a requirement? And if so, How does the IRS determine the amount of the penalty? Income Tax Withholding You can choose to have incom...

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