Touche', you are correct.lstone19 wrote: ↑Tue Jan 10, 2023 10:06 amNo, it was 70.5. I remember my wife and I discussing at the time that the change from 70.5 to 72 only moved her date, with a December birthday, out one calendar year (would turn 70.5 in June of one year and 72 in December of the following year) while it moved mine, with an April birthday, out two calendar years (70.5 in October and 72 in April two calendar years later).
Search found 1086 matches
- Tue Jan 10, 2023 10:23 am
- Forum: Personal Finance (Not Investing)
- Topic: RMD's used to pay taxes and new secure act
- Replies: 44
- Views: 4319
Re: RMD's used to pay taxes and new secure act
- Tue Jan 10, 2023 9:54 am
- Forum: Personal Finance (Not Investing)
- Topic: RMD's used to pay taxes and new secure act
- Replies: 44
- Views: 4319
Re: RMD's used to pay taxes and new secure act
Thanks. I am glad you came around to change my understanding. Did I completely pull a random number out of the sky of "April 1" for the original secure act???? Under the first secure act I was clearly told on this board that someone who turned 72 in January , that the first RMD was due by April. I am just trying to understand how I came up with that understanding. I need to get better at searching for past posts so I can re-read. I'm trying to leave clear instructions to help my spouse when I pass. We have a lot of time to get things figured out, and I am not opposed to moving forward with a new understanding, but I sure the heck would like to understand where I got the impression that two RMD's were required if they waited to 72...
- Mon Jan 09, 2023 11:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: RMD's used to pay taxes and new secure act
- Replies: 44
- Views: 4319
Re: RMD's used to pay taxes and new secure act
when the first secure act came out, I posted here and thought I had a good understanding of the requirements. My understanding was if you put off your first RMD to age 72, you had to take one RMD by April and a second RMD by December 31st that same year, so people were recommending to take the "first" at 71 so that you only needed one per year. I have not seen all the text of the new secure act, but under the impression that they are adding a year. would that not mean that you either take your first at 72 and your second at 73, or delay to 73 and owe two RMDs your 73rd year???? It's not a matter of 'putting off' your first RMD until age 72, that was what the original Secure Act changed the 'required distribution' age to (from the...
- Mon Jan 09, 2023 7:12 pm
- Forum: Personal Finance (Not Investing)
- Topic: RMD's used to pay taxes and new secure act
- Replies: 44
- Views: 4319
Re: RMD's used to pay taxes and new secure act
I assume it will be like the old Secure Act that if you wait till 73, you will need to do two RMD's that first year. Born in 55 Why? IF you always take your RMD in the calendar year it 'comes due' you NEVER (AFAIK) have to take two RMDs in the same calendar year. In your wife's case, the first RMD will 'come due' in 2028. IF she doesn't delay it and takes that first RMD in 2028, she only has to take that one RMD during that first year (2028), because the second RMD does not 'come due' until she is 74 in 2029. It's only in the case where you delay taking a RMD that has 'come due' into the following calendar year where you may have to take two RMD's in a single calendar year, but in the the case of the first RMD, that doubled up year would b...
- Tue Jan 03, 2023 10:24 pm
- Forum: US Chapters
- Topic: your favorite quotes & one-liners
- Replies: 272
- Views: 48944
Re: your favorite quotes & one-liners
Better is the enemy of good enough.
- Sat Dec 31, 2022 11:24 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
- Mon Dec 26, 2022 5:28 pm
- Forum: Personal Finance (Not Investing)
- Topic: "Open Social Security" calculator: feature requests, bug reports, etc.
- Replies: 641
- Views: 89195
Re: "Open Social Security" calculator: feature requests, bug reports, etc
ETA - Oh, wait a minute!! Because of her birth date, is she caught in the 'when you file, you must file for all the benefits you are eligible for' [deemed filing] trap? If she filed for spousal @ FRA, she would then also have to have filed for her own benefit at the same time? Not Mike, but I believe your ETA is correct. She was born too late to file a "restricted application" for spousal benefit only. Bummer. Yes, exactly. If she were to file for a spousal benefit, she'd be deemed to file for her retirement benefit. And because her PIA is < 50% of his PIA, there would be no spousal benefit at all. Thank you, by the way, for including the link to inputs used. That makes it so much easier. :thumbsup Thanks, Mike.
- Mon Dec 26, 2022 3:32 pm
- Forum: Personal Finance (Not Investing)
- Topic: "Open Social Security" calculator: feature requests, bug reports, etc.
- Replies: 641
- Views: 89195
Re: "Open Social Security" calculator: feature requests, bug reports, etc
Hi Mike, I think I may have discovered a 'bug' ... Case Reference Link Situation: Marital Status: Married Female inputs Birth Date: 3/1957 ( --> Note: FRA @ 66½ or 9/2023 ) PIA: $2500 Still Working: Yes Stop Working: 9/2023 Already Filed for Benefits: No Male inputs Birth Date: 2/1951 PIA: $1667 Still Working: Yes Stop Working: 9/2023 Already Filed for Benefits: Yes Date Filed: 2/2021 I would have expected the results to have shown the female delays filing for her own benefit until age 70, but files for her spousal benefit at her FRA. What the tool showed was filing for her own benefit at age 70, but NOT filing for her spousal benefit at all, ever . Why would she not file for her spousal benefit at her FRA? One Ping ETA - Oh, wait a minute!...
- Fri Dec 23, 2022 7:13 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
Re: Secure Act 2.0 Signed
On the surface, delaying the start of RMDs from 72 to 73 seems appealing for someone like me. However, my detailed Excel spreadsheet modeling showed that delaying by that year will push more late life income into IRMAA territory. So delaying will confer minimal benefit for me near the end of my plan. When the time comes, I may still start withdrawals at 72. My guess is that with good modeling calculations, others will find themselves in a similar situation. I think you can take a distribution any time you want after age 59½, it's only REQUIRED starting at age 73. If you want to reduce your chances for late life IRMAA, you could take distributions before RMD age up to the IRMAA limit to reduce your balance. OTOH, you could use QCDs after ag...
- Fri Dec 23, 2022 7:03 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
Re: Secure Act 2.0 Signed
Another overlooked part of this bill is that there are no more RMD requirements for 401k Roths. The bill now aligns the rules for all Roth types. Hmmm ... where did you see that? Do you have a reference? -- One Ping Page 2227 of the bill text I believe. Thanks, running investor. On page 2227 I see the following (emphasis added): SEC. 325. ROTH PLAN DISTRIBUTION RULES. (a) IN GENERAL .—Subsection (d) of section 402A is amended by adding at the end the following new paragraph: ‘‘(5) MANDATORY DISTRIBUTION RULES NOT TO APPLY BEFORE DEATH .—Notwithstanding sections 403(b)(10) and 457(d)(2), the following provisions shall not apply to any designated Roth account : ‘‘(A) Section 401(a)(9)(A). ‘‘(B) The incidental death benefit require- ments of ...
- Fri Dec 23, 2022 6:36 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
- Fri Dec 23, 2022 6:08 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
Re: Secure Act 2.0 Signed
FYI - For those of you interested in the details, I updated the OP with a link to the text of the bill that was passed and signed. -- One Ping
- Fri Dec 23, 2022 3:32 pm
- Forum: Investing - Theory, News & General
- Topic: Secure Act 2.0 Signed
- Replies: 164
- Views: 22891
Secure Act 2.0 Signed
[The Washington Times article linked in this post is incorrect. See this post --admin LadyGeek]
Let the discussion begin ...
https://www.washingtontimes.com/news/20 ... -bill-law/
https://www.fidelity.com/learning-cente ... cure-act-2
I'm liking the extra year before starting RMDs
One Ping
ETA: Here is the text of the complete Omnibus Spending Bill that was passed and signed.
Consolidated Appropriations Act, 2023
The section that is the Secure Act 2.0 (Division T) starts on page 2000.
Let the discussion begin ...
https://www.washingtontimes.com/news/20 ... -bill-law/
https://www.fidelity.com/learning-cente ... cure-act-2
I'm liking the extra year before starting RMDs
One Ping
ETA: Here is the text of the complete Omnibus Spending Bill that was passed and signed.
Consolidated Appropriations Act, 2023
The section that is the Secure Act 2.0 (Division T) starts on page 2000.
- Fri Sep 30, 2022 12:47 pm
- Forum: Personal Consumer Issues
- Topic: Which is the best pizza in a chain store?
- Replies: 110
- Views: 10040
- Fri Sep 30, 2022 12:19 pm
- Forum: Personal Consumer Issues
- Topic: Which is the best pizza in a chain store?
- Replies: 110
- Views: 10040
- Sat Sep 17, 2022 11:51 am
- Forum: Investing - Theory, News & General
- Topic: Why is 60/40 supposed to be the best for retirement?
- Replies: 168
- Views: 18616
Re: Why is 60/40 supposed to be the best for retirement?
Joe,
I don't agree with his approach, but I think this is his "math."
Total = 25x (25 years of expenses)
Fixed Income = 10x (10 years of expenses)
Balance in Stocks = 15x (15 years of expenses)
Stock% = stocks / total = 15x /25x = 60%
Fixed income% = fixed / total = 10x / 25x = 40%
One Ping
- Tue Sep 13, 2022 2:45 am
- Forum: Personal Investments
- Topic: Roth after 72
- Replies: 3
- Views: 978
Re: Roth after 72
Got it. Thanks, Alan.
- Mon Sep 12, 2022 10:00 pm
- Forum: Personal Investments
- Topic: Roth after 72
- Replies: 3
- Views: 978
Roth after 72
If someone is over 72 and taking retirement account distributions, but has earned income, can they make a Roth IRA contribution?
- Fri Jun 03, 2022 5:34 pm
- Forum: Investing - Theory, News & General
- Topic: Why the gap btw all-US 4-fund and VTSAX?
- Replies: 6
- Views: 751
Re: Why the gap btw all-US 4-fund and VTSAX?
[emphasis added] And also more of a (small) value tilt than the total market.Tamalak wrote: ↑Fri Jun 03, 2022 1:16 pm If you invest in the full market *at capitalization*, you will naturally have more money in large cap than small cap, since large cap composes a larger portion of the market. This is why Vanguard categorizes VTSAX as "large blend" and not "medium blend": https://investor.vanguard.com/mutual-fu ... olio/vtsax
If the all-US 4-fund is invested equally (25% each) in their funds, they are effectively tilting small cap compared to the full market.
- Fri Jun 03, 2022 5:20 pm
- Forum: Investing - Theory, News & General
- Topic: Why the gap btw all-US 4-fund and VTSAX?
- Replies: 6
- Views: 751
Re: Why the gap btw all-US 4-fund and VTSAX?
Slightly related: does anyone know the logic behind TrevH's chosen tilts? I didn't see it in his post (may have missed it). It would seem he's buying into tilts, but choosing to split 50/50 to international given that the world economy really is global going forward, whereas it was dominated by the US economy for much of the historical data that Merriman cites. TrevH was trying to replicate the performance of the Merriman Ultimate Buy-and-Hold (UBH) portfolio, but with significantly fewer than 10 funds. He used 4 funds to maintain Merriman's allocations of 50% Large/50% Small, 50% Blend/50% Value and 50% US/50% Intl. I believe he backtested all 6(?) permutations of the 4 asset classes and 2 geographies and the 25% US LCB / 25% US SCV / 25%...
- Thu Jun 02, 2022 11:22 am
- Forum: Personal Finance (Not Investing)
- Topic: Re Retirement "I wish I'd known..."
- Replies: 299
- Views: 54995
Re: Re Retirement "I wish I'd known..."
After I retired and seriously started understanding my finances I discovered that I could have retired a lot earlier! Exactly the same for me. In all reality, you don't need a zillion dollars to retire comfortably. I wish I would have went about 4-5 years earlier. Bob Yup. If I'd known, I could have been gone years sooner. It's not that I didn't do the planning or understand, in general, the reduction in certain expenses, it's just that there were things I didn't realize. For example, I had time to do things myself that when I was working I would pay people to do. Getting a pet cat would make a decision to travel more difficult. This is true, except for us it was a dog. Once the dog passed on, travel became much more spontaneous.
- Thu Jun 02, 2022 11:08 am
- Forum: Personal Consumer Issues
- Topic: Montreal and/or Toronto vacation
- Replies: 56
- Views: 5019
Re: Montreal and/or Toronto vacation
One's first impression of Toronto would be similar to NY or Chicago. Similar enough that Toronto has stood in for both NY and Chicago in movies and TV. 8-) Years ago I was watching a TV crime/detective show (forgot which one) that was set in Chicago. In one outdoor street scene I saw a red-and-white Toronto streetcar trundle across an intersection a couple of blocks away. Due South, about a Canadian Mountie (Royal Canadian Mounted Police) in Chicago paired with a Chicago Italian-American cop, was slyly humorous about this. The "Canadian Consulate" was an old club building on University Ave. The series constantly riffed off the straightlaced Canadian law enforcement-streetwise American cop duality. (the in joke about a deaf sled d...
- Wed Apr 06, 2022 10:36 am
- Forum: Personal Finance (Not Investing)
- Topic: Ten Days to Tax Day and My Tax Preparer is MIA
- Replies: 29
- Views: 3370
Re: Ten Days to Tax Day and My Tax Preparer is MIA
This is very helpful, thank you all. I tried to use Turbo Tax earlier this, but the key to that is that it read/import my info from Vanguard. It refused to do so, insisting that the user name/pw were incorrect. They were not, and I gave up. If I could do that, I wouldn't need a tax preparer at all. I don’t feel comfortable giving TT my username and password but had luck with uploading my forms in TurboTax. I logged into Vanguard, downloaded PDFs of my 1099s, then uploaded them into TurboTax and it automatically populated everything . I was able to do this with several tax forms without any issues. You can upload PDFs of your 1099s to TT and it can find the data it needs? Wow!, I did not know that. Sounds like I'll change my approach next y...
- Mon Dec 13, 2021 4:28 pm
- Forum: Personal Consumer Issues
- Topic: Need Recommendations for Engineering Laptop
- Replies: 25
- Views: 2015
Re: Need Recommendations for Engineering Laptop
Wow!
I've not had time to assimilate all these comments yet, but wanted to thank everyone for their input! I will be looking at these comments/recommendations/suggestions over the next day or so and get back with any additional questions, clarifications, etc.
One Ping
I've not had time to assimilate all these comments yet, but wanted to thank everyone for their input! I will be looking at these comments/recommendations/suggestions over the next day or so and get back with any additional questions, clarifications, etc.
One Ping
- Sun Dec 12, 2021 5:00 pm
- Forum: Personal Consumer Issues
- Topic: Need Recommendations for Engineering Laptop
- Replies: 25
- Views: 2015
Need Recommendations for Engineering Laptop
Hi Everyone, My current laptop is 6 or 7 years old and is showing its age in a number of areas … suffice to say, I need a new one. I do lots of heavy technical engineering-type work – large highly integrated spreadsheets (some extremely large w/multiple VBA scripts) and engineering related tools (e.g., System Tool Kit, STK, used to be called Satellite Tool Kit from AGI). Would be nice to have these tools run faster than what they do now, if possible. A few things I have some ideas on. I want a 15”-16” screen (old eyes). Probably a 'whole bunch' of USB ports. Current system has 4, but they are all in use. Not sure what types, but they should have some that are ‘backward’ compatible, so I can access data on older memory sticks I currently hav...
- Tue Oct 26, 2021 12:37 pm
- Forum: Personal Investments
- Topic: Leverage: What’s the ultimate “risk parity”/”All weather” portfolio to minimize drawdowns?
- Replies: 14
- Views: 2117
Re: Leverage: What’s the ultimate “risk parity”/”All weather” portfolio to minimize drawdowns?
Missed the second PP in the GB stats line ...willthrill81 wrote: ↑Tue Oct 26, 2021 10:15 amYes, thanks. I've corrected the post.vanbogle59 wrote: ↑Tue Oct 26, 2021 10:12 amThat is about GB, right?willthrill81 wrote: ↑Tue Oct 26, 2021 10:06 am The deepest drawdown for the PP since 1970 was -11%, and it took 3 years for the PP to recover from its longest drawdown. Over that same period, it had annualized returns of 6.3%.
- Sun Oct 24, 2021 9:00 pm
- Forum: Investing - Theory, News & General
- Topic: Can you ignore social security in your calculations?
- Replies: 256
- Views: 28525
Re: Can you ignore social security in your calculations?
- Sun Oct 24, 2021 8:58 pm
- Forum: Personal Consumer Issues
- Topic: Just out! Roomba J7+ Anyone tried it? Worth it?
- Replies: 34
- Views: 4525
- Thu Oct 21, 2021 10:08 pm
- Forum: Personal Investments
- Topic: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
- Replies: 9
- Views: 2605
Re: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
touche'Alan S. wrote: ↑Thu Oct 21, 2021 9:41 pmPoint made that the divisor for most of those taking RMDs in 2021 will have a higher divisor (lower RMD) as a % in 2022 than 2021.
However, if you reach 71 anytime this year, you will not have any RMD for 2021 as your RMDs will start at age 72 using the new tables.
- Thu Oct 21, 2021 5:23 pm
- Forum: Investing - Theory, News & General
- Topic: Can you ignore social security in your calculations?
- Replies: 256
- Views: 28525
Re: Can you ignore social security in your calculations?
Well... of course. But that's not my point, which is why I said a 25% cut is the worst-case scenario. We'll have to agree to disagree there. There are worse outcomes than just a 25% cut. My opinion is there is a 0% possibility of no SS Agree. , and a minuscule possibility of any haircut, period. Completely disagree. There are many, many routes to solving this problem that will have zero impact on promised payments (as they stand now) for anyone who is within, say, two decades of FRA. I would not waste my time, or put in more working years, planning for a 100% cut. Nor would I do so for a 25% cut. But, I'm an optimist. If one is not, then one should save more, plan to work longer, or plan to spend less. As I posted upthread, as long has you...
- Thu Oct 21, 2021 1:58 pm
- Forum: Personal Investments
- Topic: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
- Replies: 9
- Views: 2605
Re: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
As an aside ... an interesting observation.
If you have a 12/31/2020 $1,000,000 IRA balance, and you are 71 this year, using the current uniform life table your divisor is 26.5, giving you a RMD of $37,735.85.
Next year you are 72 and assuming a 12/31/2021 $1,000,000 balance, using the new uniform life table you divisor is 27.4, giving you a RMD of $36,496.35.
For a constant balance you would assume as you age your divisor would go down, increasing your RMD. It ain't necessarily so during this transition to the new table.
If you have a 12/31/2020 $1,000,000 IRA balance, and you are 71 this year, using the current uniform life table your divisor is 26.5, giving you a RMD of $37,735.85.
Next year you are 72 and assuming a 12/31/2021 $1,000,000 balance, using the new uniform life table you divisor is 27.4, giving you a RMD of $36,496.35.
For a constant balance you would assume as you age your divisor would go down, increasing your RMD. It ain't necessarily so during this transition to the new table.
- Thu Oct 21, 2021 1:37 pm
- Forum: Personal Investments
- Topic: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
- Replies: 9
- Views: 2605
Re: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
Ok, now I am confused. :( For RMDs for 2021, which table do we use when calculating RMDs for IRAs we owned as of 12/31/2020? The life table I am using from the IRS worksheet at https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf indicates that at age 72 the divisor = 25.6. But in the new table that you present, at age 72 the divisor = 27.4. This is a huge difference. So which do we use for 2021 when calculating RMDs for IRAs we owned as of 12/31/2020? Or do the divisors change for 2022 for IRAs we owned as of 12/31/2021? Or am I just confused (which is easy to do)? From the Federal Register reference linked in the OP: Applicability Date : The final regulations in this document apply to distribution calendar years (as defined in § 1.401(...
- Thu Oct 21, 2021 1:07 pm
- Forum: Personal Investments
- Topic: IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
- Replies: 9
- Views: 2605
IRS RMD Worksheet heads-up for RMDs for 2022 and beyond
A while back there was a discussion about the IRS IRA RMD Worksheet located here and whether it was correct for calculating RMDs under the SECURE Act for years 2022 and beyond. [I looked for the thread but could not crack the google code to find it, so this may be old news. If so, sorry for the noise.] The crux of the issue seemed to be that the worksheet refers to “the year you turn 70½” and whether that meant the worksheet was not valid. That worksheet is indeed INCORRECT for calculating RMDs under the SECURE Act for 2022 and beyond. The problem is not only does it have the incorrect age for starting RMDs (which is at best confusing), it also has the incorrect uniform life table divisors for 2022 and after. To make matters more confusing ...
- Sat Oct 16, 2021 12:51 pm
- Forum: Investing - Theory, News & General
- Topic: Anyone here CoastFIRE’d?
- Replies: 182
- Views: 34781
Re: Anyone here CoastFIRE’d?
Aha! So, a "Jacob" is just ERE code for saying you are spending $7K/yr (e.g., 2.3 Jacobs would be $16.1K/yr)?WyomingFIRE wrote: ↑Sat Oct 16, 2021 12:31 pmnigel_ht nailed it above (and thank you, nigel_ht)One Ping wrote: ↑Sat Oct 16, 2021 11:36 amI poked around on ERE and could find out what the heck "Jacob Adjusted for Inflation” (JAFI) type metrics" are.WyomingFIRE wrote: ↑Fri Oct 15, 2021 8:40 pm I read ERE and MMM. I totally get the sentiments and desires expressed by the OP. I read a lot of philosophy, too. One of my favorite blogs is lackingambition.com. And so on and so forth.
. . .
I would only do this if I could abide by “Jacob Adjusted for Inflation” (JAFI) type metrics.
Would you be able to provide a short summary or link pointing to a description? TIA
What types of 'metrics' are associated with the term?
- Sat Oct 16, 2021 12:23 pm
- Forum: Investing - Theory, News & General
- Topic: Anyone here CoastFIRE’d?
- Replies: 182
- Views: 34781
Re: Anyone here CoastFIRE’d?
I read ERE and MMM. I totally get the sentiments and desires expressed by the OP. I read a lot of philosophy, too. One of my favorite blogs is lackingambition.com. And so on and so forth. . . . I would only do this if I could abide by “ Jacob Adjusted for Inflation” (JAFI) type metrics . I poked around on ERE and could find out what the heck "Jacob Adjusted for Inflation” (JAFI) type metrics" are. Would you be able to provide a short summary or link pointing to a description? TIA :beer Spend only $7K/year (now $8738) and you too can FIRE after 5 years of work… https://forum.earlyretirementextreme.com/viewtopic.php?t=10135 I found that on ERE, and I get adjusting for inflation, but I still don't know what a "Jacob" is, o...
- Sat Oct 16, 2021 11:36 am
- Forum: Investing - Theory, News & General
- Topic: Anyone here CoastFIRE’d?
- Replies: 182
- Views: 34781
Re: Anyone here CoastFIRE’d?
I poked around on ERE and could find out what the heck "Jacob Adjusted for Inflation” (JAFI) type metrics" are.WyomingFIRE wrote: ↑Fri Oct 15, 2021 8:40 pm I read ERE and MMM. I totally get the sentiments and desires expressed by the OP. I read a lot of philosophy, too. One of my favorite blogs is lackingambition.com. And so on and so forth.
. . .
I would only do this if I could abide by “Jacob Adjusted for Inflation” (JAFI) type metrics.
Would you be able to provide a short summary or link pointing to a description? TIA
- Mon Oct 11, 2021 4:43 pm
- Forum: Personal Investments
- Topic: Calculating 4% Withdrawals
- Replies: 25
- Views: 4101
Re: Calculating 4% Withdrawals
FYI - While there is a requirement to 'take' (and pay tax on) your RMD from your tax deferred account(s), there is no requirement to SPEND it.Grt2bOutdoors wrote: ↑Mon Oct 11, 2021 4:30 pm There's no requirement that you take 4%+ inflation. There is a requirement that you take the RMD as mandated by the IRS, that number is not inflation-adjusted. Here's the IRS worksheet table: https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf
- Mon Oct 11, 2021 12:43 pm
- Forum: Investing - Theory, News & General
- Topic: Question about Bernstein's Stop Playing the Game
- Replies: 82
- Views: 10989
Re: Question about Bernstein's Stop Playing the Game
I could be wrong, but I believe that he said 25x in fixed income and the rest in equities. Sounds good to me. So, if Pension + SS cover 100% of your living expenses, the 25X residual living expenses = $0. So the rest (i.e., 100%) is in equities, right? Or am I missing something ... One Ping Well, that would be the conclusion of a simple minded rule like that, but it might also be wise to contemplate whether of not you want the consequences of doing that. That doesn't mean it is crazy to decide to hold only stocks in a case like that, but one would hope one applies processes of thought, information, and logic to the decision. The starting point that you may be missing is that you know what you want, translated into what that implies for how...
- Sun Oct 10, 2021 11:34 pm
- Forum: Investing - Theory, News & General
- Topic: Question about Bernstein's Stop Playing the Game
- Replies: 82
- Views: 10989
Re: Question about Bernstein's Stop Playing the Game
I think Bernstein recommended to put 20x in FI and invest the rest in equities if you won the game. I could be wrong, but I believe that he said 25x in fixed income and the rest in equities. Sounds good to me. So, if Pension + SS cover 100% of your living expenses, the 25X residual living expenses = $0. So the rest (i.e., 100%) is in equities, right? Or am I missing something ... One Ping Well, that would be the conclusion of a simple minded rule like that, but it might also be wise to contemplate whether of not you want the consequences of doing that. That doesn't mean it is crazy to decide to hold only stocks in a case like that, but one would hope one applies processes of thought, information, and logic to the decision. The starting poi...
- Sun Oct 10, 2021 7:59 pm
- Forum: Investing - Theory, News & General
- Topic: Question about Bernstein's Stop Playing the Game
- Replies: 82
- Views: 10989
Re: Question about Bernstein's Stop Playing the Game
Sounds good to me. So, if Pension + SS cover 100% of your living expenses, the 25X residual living expenses = $0. So the rest (i.e., 100%) is in equities, right?willthrill81 wrote: ↑Sun Oct 10, 2021 1:57 pmI could be wrong, but I believe that he said 25x in fixed income and the rest in equities.carminered2019 wrote: ↑Sun Oct 10, 2021 1:42 pm I think Bernstein recommended to put 20x in FI and invest the rest in equities if you won the game.
Or am I missing something ...
One Ping
- Sun Sep 19, 2021 6:30 pm
- Forum: Personal Investments
- Topic: SS analysis question
- Replies: 11
- Views: 2183
Re: SS analysis question
Thought that's what I said. ...celia wrote: ↑Sun Sep 19, 2021 6:19 pmThe decision of which pot to collect from earlier still applies whether married or not, as mentioned in Susan Garland’s article (quoted by ArticPineapplecorp).
- Sun Sep 19, 2021 5:53 pm
- Forum: Personal Investments
- Topic: SS analysis question
- Replies: 11
- Views: 2183
Re: SS analysis question
This is the key discriminator in my view. If you are single it really doesn't matter what you do because it impacts no one. If you ar married, that is not true.
- Sun Sep 19, 2021 5:44 pm
- Forum: Personal Investments
- Topic: Explain REIT tax handling to me?
- Replies: 7
- Views: 1464
Re: Explain REIT tax handling to me?
Bump ... seems like this deserves a reply.
- Sun Sep 19, 2021 5:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Combined Pension and SS Income
- Replies: 31
- Views: 4281
Re: Combined Pension and SS Income
This post was stimulated by a discussion about Social Security income with my sibling who just retired last year. 1) ... If you don't mind responding to this post, where are you in the combined pension/SS range? 2) As for the actionable part of this post, ... I have been bopping along on auto-pilot very complacently for 7 years of retirement, just taking some money out of my tIRA every year to supplement my pension. ... So the money that I have saved all my life just sits there and grows. Or, it does NOT, ... At ages 70 (me) and 76 (spouse) our 7th year post-retirement combined (uncola'd) pension and SS (delayed to age 70) income is now $30k to $60k more than our (essentially unconstrained from our perspective) expenses. I consider this ad...
- Sat Aug 28, 2021 10:15 pm
- Forum: Investing - Theory, News & General
- Topic: Why Does Anyone Listen To Paul Merriman?
- Replies: 151
- Views: 34998
Re: Why Does Anyone Listen To Paul Merriman?
Why does anyone listen to Paul Merriman?
Because he is a decent guy who has an incredible wealth of investment knowledge and experience (built over 50 years) and is only interested in helping you, and others, through his foundation to find an investment plan/approach that you can stick.with and that gives you a good chance of reaching your financial goals.
Most of investing is basically doing a few things "ok" and not doing too many things drastically wrong. Paul gives you information for you to decide on the "ok" things and how to avoid the wrong things.
Because he is a decent guy who has an incredible wealth of investment knowledge and experience (built over 50 years) and is only interested in helping you, and others, through his foundation to find an investment plan/approach that you can stick.with and that gives you a good chance of reaching your financial goals.
Most of investing is basically doing a few things "ok" and not doing too many things drastically wrong. Paul gives you information for you to decide on the "ok" things and how to avoid the wrong things.
- Mon Aug 23, 2021 10:07 pm
- Forum: Personal Finance (Not Investing)
- Topic: If I Knew Then What I Know Now
- Replies: 127
- Views: 69759
Re: If I Knew Then What I Know Now
"Numbers is hard." ... sometimes ...arcticpineapplecorp. wrote: ↑Mon Aug 23, 2021 8:52 pmthanks.One Ping wrote: ↑Mon Aug 23, 2021 6:30 pmTry using the monthly periodic rate of: (1+.10)^(1/12)-1, rather than .10/12.arcticpineapplecorp. wrote: ↑Mon Aug 23, 2021 2:49 pm very nice post Michael. I just stumbled upon it while reading this: viewtopic.php?p=6188182#p6188182
just a technical question. Looking at your quote below, when I do a FV calc for $601/month for 30 years at 10% CAGR, that is, =FV(.10/12,360,-601) I get $1,358,553.24, not $1,249,655. Small potatoes, but what am I missing? Thanks!
Note: .10/12 compounded for 12 months is a 10.47% return for the year, not 10%.
- Mon Aug 23, 2021 9:43 pm
- Forum: Investing - Theory, News & General
- Topic: New Avantis ETFs
- Replies: 279
- Views: 54549
Re: New Avantis ETFs
Cool. When do they come out with an Emerging Market SCV?
- Mon Aug 23, 2021 9:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Updated with Details! Pension % to Spouse, Life Insurance for Gap?
- Replies: 41
- Views: 4150
Re: Pension % to Spouse, Life Insurance for Gap?
Hello everyone! Thank you for taking time to read my question. Appreciate the great minds on BH! I find myself considering the difference between 50% OR 75% of pension to spouse if I pass first. I know the best answer is 75%, ... You just said you already know the best answer, 75%. IMO, you are right! When I retired 7 years ago I went with 50%. Ever since then, as we've gotten older, I realize if I croak first DW would be better off if I'd chosen 75%. Not that she will be destitute because of the 50% survivor benefit, she won't, but things would be less 'complicated' for her if I'd chosen 75% instead of 50%. Turns out the higher pension (50% vs 75% survivor benefit) wouldn't have made any substantive difference in our retirement financial ...
- Mon Aug 23, 2021 8:49 pm
- Forum: Personal Consumer Issues
- Topic: Question for optical experts - sunglasses
- Replies: 16
- Views: 2434
Re: Question for optical experts - sunglasses
Retired optometrist here. I would never buy a pair of sunglasses that did not feature polarized lenses. Just a small quibble here. If you are a pilot, the computer generated displays in your cockpit may not be readable if you are wearing polarized lenses. This could be a problem. :shock: It is similar to when I'm reading my ipad with my polarized lenses. For some rotations the screen goes black! I get rainbow distortions through my polycarbonate helmet visor as well, which can be distracting. There are plenty of scenarios where polarization is unwanted. I have Maui Jim and Serengeti sunglasses, and they both use proper optical glass and have non-polarized options. Highly recommended. :happy My pilot friend uses Randolph sunglasses. He seem...
- Mon Aug 23, 2021 7:22 pm
- Forum: Personal Consumer Issues
- Topic: Question for optical experts - sunglasses
- Replies: 16
- Views: 2434
Re: Question for optical experts - sunglasses
Just a small quibble here. If you are a pilot, the computer generated displays in your cockpit may not be readable if you are wearing polarized lenses. This could be a problem.Jazztonight wrote: ↑Mon Aug 23, 2021 6:25 pm Retired optometrist here.
I would never buy a pair of sunglasses that did not feature polarized lenses.
It is similar to when I'm reading my ipad with my polarized lenses. For some rotations the screen goes black!