Search found 29 matches

by TinyTim
Mon Oct 07, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: POA Reimbursement
Replies: 48
Views: 3048

Re: POA Reimbursement

My mother's POA is for Washington State.
by TinyTim
Mon Oct 07, 2019 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: POA Reimbursement
Replies: 48
Views: 3048

POA Reimbursement

I have unrestricted Power-of- Attorney for my elderly mother, who has dementia and is unable to make any financial decisions. She lives in an Adult Family Home and I take care of bills, errands, doctor appointments, etc. The POA document does not specify reimbursement for being POA. Am I able to pay...
by TinyTim
Sun Jun 16, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Doing Your Own Taxes
Replies: 36
Views: 3551

Doing Your Own Taxes

The cost of having someone else do our taxes keeps going up. It was $350 this year. It seems like a good idea to do our own, especially so now that we are using the higher standard deduction rather than itemizing. Any suggestions for the best way to prepare our own taxes? My biggest fear is that I'l...
by TinyTim
Sun Jun 16, 2019 12:06 am
Forum: Personal Finance (Not Investing)
Topic: IRA Withdrawal for Charity
Replies: 3
Views: 427

IRA Withdrawal for Charity

I am 70.5 and am eligible to make tax-free withdrawals to contribute to a charity. I have two questions about a recent charitable contribution withdrawn from my non-ROTH IRA: (1) Does it count as part of my RMD (Required Minimum Distribution) for the year? (2) How do I report on my taxes? (Fidelity ...
by TinyTim
Fri Mar 15, 2019 8:34 pm
Forum: Personal Investments
Topic: Vanguard Personal Advisor Fees
Replies: 6
Views: 767

Vanguard Personal Advisor Fees

I am using the Vanguard Personal Advisor service for some of my Mutual Fund investments. The fee is 30 basis points. Can anyone tell me if there are also underlying fees for the Mutual Funds under management, or does the 0.3 % fee cover everything?

Tim
by TinyTim
Mon Jan 21, 2019 6:04 pm
Forum: Personal Consumer Issues
Topic: NY Times $1 per week digital
Replies: 41
Views: 6068

Re: NY Times $1 per week digital

I'm a schoolteacher and get the NY Times digital for $3.99 every two weeks for as long as I am teaching.
by TinyTim
Tue Jan 01, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Budgeting
Replies: 10
Views: 1559

Retirement Budgeting

My wife and I plan to fully retire at the end of June. We want to set up a practical budget during the next six months. Any suggestions about a good book or online budgeting program (free or low-cost) ? Thank you.
by TinyTim
Mon Dec 10, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal SS Benefit
Replies: 13
Views: 1365

Spousal SS Benefit

I began collecting Social Security this month at age 70. My spouse, age 60, is eligible for early benefits at age 62 (full retirement benefit at age 67) Her benefit at age 62 will be about $1000 monthly (about $ 1300 to $1400 at age 67). If she takes a spousal benefit at age 62 would that be based o...
by TinyTim
Sat Sep 15, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 10389

Re: Delaying Social Security Until 70

@drawpoker--Yes, I saw that article about those who missed the great run-up after the Great Recession. My wife and I were working and all our investments were retirement accounts. We held the course and now are ready to the harvest the benefits. There are a thousand and one excellent reasons why one...
by TinyTim
Sat Sep 15, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 10389

Delaying Social Security Until 70

I will begin taking Social Security later this year at age 70, and read some surprising statistics recently: Only about 2% of Social Security beneficiaries wait until age 70 to get the maximum benefit. I understand that there are a myriad of reasons to take it sooner, but it seems to me that more pe...
by TinyTim
Tue Aug 07, 2018 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Medicare Start Date
Replies: 6
Views: 743

Re: Question About Medicare Start Date

Thanks for your informative answers. My apologies for the confusing Thread Title. I am already on Medicare,but have applied for SS benefits beginning on my 70th birthday. One of the best financial decisions I made was to hold off taking SS until 70, which increases benefit by 32% over taking at full...
by TinyTim
Tue Aug 07, 2018 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Medicare Start Date
Replies: 6
Views: 743

Question About Medicare Start Date

I turn 70 at the end of October and have applied to receive SS benefits at that time. Will I receive any benefits for the four days in October that follow my birthday, or will payments begin November 1st? Is SS paid at the beginning of the next the month for that month, with my first payment at the ...
by TinyTim
Tue Aug 07, 2018 1:32 am
Forum: Investing - Theory, News & General
Topic: "Don't Obsess About Expense Ratios"
Replies: 240
Views: 23989

Re: "Don't Obsess About Expense Ratios"

I have one investment foot in Vanguard and the other in Fidelity. All my investments are in IRAs, so I could switch companies, but plan to keep it the same.
by TinyTim
Thu Feb 01, 2018 1:46 am
Forum: Personal Investments
Topic: Immediate Annuity
Replies: 20
Views: 3057

Immediate Annuity

I'm retiring later this year at age 70 and will be taking Social Security then. I'm considering using some traditional IRA money to purchase an immediate annuity with no COLA or cash back, to last both the lifetime of both my wife and me. Can you offer any suggestions about factors I should consider...
by TinyTim
Sat Jan 13, 2018 12:02 am
Forum: Personal Consumer Issues
Topic: What journalism are you currently reading?
Replies: 12
Views: 1175

Re: What journalism are you currently reading?

I don't listen to news on radio or watch on TV, not for snobbish reasons, but because I am not in control of the content. I prefer to read where I have a choice. I subscribe to a local newspaper with a plentiful selection of human-interest articles. Also I have an online subscription to NY Times; re...
by TinyTim
Tue Jan 09, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Magazine
Replies: 17
Views: 2291

Re: Personal Finance Magazine

To clarify, my mutual fund investments are on auto-pilot, but I appreciate some of the general financial advice in KRR, which is why I subscribe
by TinyTim
Tue Jan 09, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Magazine
Replies: 17
Views: 2291

Personal Finance Magazine

I currently subscribe to Kiplinger Retirement Report monthly magazine. For those of you who subscribe to Personal Finance magazines, which do you prefer and why?
by TinyTim
Mon Jan 01, 2018 11:42 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2018!
Replies: 381
Views: 68668

Re: Roll Call for the Retirement Class of 2018!

I turn 70 this year, then plan to retire. Working until 70 and waiting to take SS until 70 has made a significant difference in my financial outlook.
by TinyTim
Mon Jan 01, 2018 7:24 pm
Forum: Personal Consumer Issues
Topic: What non fiction book will you be reading in 2019?
Replies: 198
Views: 19728

Re: What non fiction book will you be reading in 2018?

One Nation Undecided: Clear Thinking About Five Hard Issues That Divide Us. By Peter Schuck (Princeton University Press, 2017)
by TinyTim
Mon Nov 13, 2017 12:22 pm
Forum: Personal Investments
Topic: Asset Allocation
Replies: 10
Views: 1512

Re: Asset Allocation

[/quote]In your example it appears you have won the game. Needing $18K a year from $1M of mutual funds, a 1.8% WR. I have read many a post that suggest taking some of the "risk" off the table at this point but keeping inflation in mind. I have seen suggested 50/50 or 40/60 Stocks/Bonds. I don't know...
by TinyTim
Sun Nov 12, 2017 7:03 pm
Forum: Personal Investments
Topic: Asset Allocation
Replies: 10
Views: 1512

Re: Asset Allocation

Let me see if I can rephrase my question in a way that addresses my concerns and some of the welcome comments that have been made. If I don't count my Social Security income as a bond or other part of my portfolio, what is the best way to figure out an Asset Allocation that takes into account this i...
by TinyTim
Fri Nov 10, 2017 9:45 pm
Forum: Personal Investments
Topic: Asset Allocation
Replies: 10
Views: 1512

Asset Allocation

I have a question about calculating Asset Allocation. I currently have a 65/35 allocation split between Stocks and Bonds, which is higher than I want. If I add in SS income as a bond, it lowers the overall Stock/Bond allocation to about 35/65. In this case, I am about where I want to be. I learned t...
by TinyTim
Thu Oct 26, 2017 12:58 am
Forum: Personal Investments
Topic: Should you rebalance when you’re in your seventies?
Replies: 25
Views: 3389

Re: Should you rebalance when you’re in your seventies?

I'm 68 and wiil retire in six months and take Social Security at 70. I plan to keep rebalancing my portfolio, aiming for a 60/40 stock/bond mix. That seems pretty conservative considering that I will get a $3100 check from the federal government each month. To get that kind of income from a 4 % annu...
by TinyTim
Thu May 11, 2017 12:19 am
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefits
Replies: 13
Views: 2089

Re: SS Survivor Benefits

Thanks for replying to my question. From the answers, here is what I can plan for: At age 70, SSA benefit for me starts at $3100 monthly. My wife, to whom I have been married for decades, will have a much lower Social Security benefit than I. So whatever monthly benefit I am receiving at my decease,...
by TinyTim
Tue May 09, 2017 12:02 am
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefits
Replies: 13
Views: 2089

Re: SS Survivor Benefits

Will she receive the same higher amount that I get by waiting to take SS until age 70?
by TinyTim
Mon May 08, 2017 12:32 am
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefits
Replies: 13
Views: 2089

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)?
by TinyTim
Tue Sep 13, 2016 1:13 pm
Forum: Personal Investments
Topic: Fidelity Strategic Advisor Portfolio Management
Replies: 25
Views: 4377

Re: Fidelity Strategic Advisor Portfolio Management

I have $600,000 invested in Fidelity, and the advisory service costs about 100 basis points. The conversation took place as an annual review with my Fidelity-assigned (free) advisor.
by TinyTim
Tue Sep 13, 2016 12:53 pm
Forum: Personal Investments
Topic: Fidelity Strategic Advisor Portfolio Management
Replies: 25
Views: 4377

Fidelity Strategic Advisor Portfolio Management

Good morning, I have a question regarding Fidelity's investment Management plans. The gist of a conversation with a Fidelity representative this morning was: (1) the Stock Market is likely headed for a downward correction (2) You can either time the market yourself by buying stocks during a downturn...
by TinyTim
Sat Mar 12, 2016 6:22 pm
Forum: Personal Investments
Topic: Mutual Fund Returns
Replies: 2
Views: 415

Mutual Fund Returns

When Morningstar posts an investement return for a mutual fund, is that the gross return or is it the return after fund expenses have been deducted?