Search found 702 matches

by Horsefly
Tue Mar 12, 2024 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1036713

Re: Fidelity as a one stop shop

I did a search of the thread, but after 10 or so pages of results I gave up. So please excuse me if this question has already been answered.... My wife and I have a regular brokerage account (registered under trust), cash management account (registered under trust), and several traditional and Roth IRAs, and individual HSAs for both of us. I already have a EFT set-up from the brokerage to our Ally bank checking account (registered under trust), and I simply wanted to also be able to transfer from my cash management account to the bank. For some reason won't let me. It now says I can transfer from the regular brokerage account, or from any of the accounts registered in my name (T-IRA, Roth IRA, or HSA), but not the cash management account. ...
by Horsefly
Tue Mar 12, 2024 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1036713

Re: Fidelity as a one stop shop

I did a search of the thread, but after 10 or so pages of results I gave up. So please excuse me if this question has already been answered.... My wife and I have a regular brokerage account (registered under trust), cash management account (registered under trust), and several traditional and Roth IRAs, and individual HSAs for both of us. I already have a EFT set-up from the brokerage to our Ally bank checking account (registered under trust), and I simply wanted to also be able to transfer from my cash management account to the bank. For some reason won't let me. It now says I can transfer from the regular brokerage account, or from any of the accounts registered in my name (T-IRA, Roth IRA, or HSA), but not the cash management account. A...
by Horsefly
Wed Mar 06, 2024 10:43 pm
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6764

Re: Fidelity and Bank of America data lost in Infosys breach

Django Ii wrote: Wed Mar 06, 2024 10:41 pm Fidelity National has no relationship to Fidelity Investments.
This wasn't Fidelity National. It is Fidelity Investments Life Insurance, which sounds like a subsidiary of Fidelity Investments, but I guess it runs on it's own IT backbone, from what I read.
by Horsefly
Wed Mar 06, 2024 10:26 pm
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6764

Re: Fidelity and Bank of America data lost in Infosys breach

Supposedly - based on several articles I read - the breach at Fidelity was only in the Fidelity Life Insurance component. I.e., none of the brokerage or mutual fund areas. If that is true, it should calm most of us.
by Horsefly
Sat Mar 02, 2024 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Timing of Amended Return
Replies: 7
Views: 817

Re: Timing of Amended Return

Thanks all for the ideas. According to what I can find, I can do either a superseding or amended return, but TurboTax requires me to print out the entire return and mail it in for either case. It may be better now, but there are horror stories online about how log it takes the IRS to get around to processing paper returns. After searching through the forms of my as-filed return last night, I now think that the $14K of income that I thought was not included actually was included, but not where I thought it would be. So it seems the only error I'm aware of is that I managed to get almost $1000 of I-Bond income reported twice. That one seems pretty obvious, so I'm hopeful the IRS automated systems will find and fix it. At least that error won'...
by Horsefly
Fri Mar 01, 2024 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Timing of Amended Return
Replies: 7
Views: 817

Re: Timing of Amended Return

Hmmm... I take it no one has any experience with an amended return? Not even an opinion?
by Horsefly
Thu Feb 29, 2024 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Timing of Amended Return
Replies: 7
Views: 817

Timing of Amended Return

I e-filed my Federal and State tax returns last week via Turbo Tax. I do a spreadsheet estimate every year, updated as the year progresses. I noticed that my refund was more than $2K higher in my e-file than what the spreadsheet had predicted. On my review (and the automated TT review) no errors were found, so I hit the button for the e-file. Yesterday I discovered a mistake I made on one of my W-2's (hand poked into TT, not downloaded), which had the effect of excluding $14K of income. I also double reported some I-Bond interest. So I know I need to file an amended return, and I want to do it promptly to avoid / minimize a penalty. I read somewhere (on the H&R Block website) that one should not file an amended return until the IRS has ...
by Horsefly
Mon Feb 26, 2024 11:09 am
Forum: Personal Investments
Topic: ROTH Conversion Requirements
Replies: 19
Views: 2264

Re: ROTH Conversion Requirements

I'd say the thing I needed most - which took some time - was a willingness to pay taxes. Every cent you convert from a Traditional IRA to a Roth IRA will be taxed as regular income. Our T-IRAs were way big when we retired at age 55 (and way bigger now), and our Roth's were nearly nothing. We are now 66 and 65, and I've only been able to convince myself to do semi-large conversions every year. Finally this year I'm biting the bullet and doing a >$200K conversion, and I hope I can convince myself again next year.

I wish I would have done bigger conversions earlier.
by Horsefly
Mon Feb 26, 2024 8:07 am
Forum: Personal Finance (Not Investing)
Topic: [2023 TurboTax Desktop now requires account login to activate]
Replies: 126
Views: 67729

Re: [2023 TurboTax Desktop now requires account login to activate]

ee_guy wrote: Sun Feb 25, 2024 2:20 pm TT may consider the second account a different computer. Have her try to install TT with her intuit account and your activation code. If that works, she should be able to use TT in her windows account.
You are suggesting installing TT a second time on the same computer? Not sure Windows will even allow me to do that.

She's gone for a couple of days for work, so I won't be able to do anything until she gets back.
by Horsefly
Sun Feb 25, 2024 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: [2023 TurboTax Desktop now requires account login to activate]
Replies: 126
Views: 67729

Re: [2023 TurboTax Desktop now requires account login to activate]

I hit what may be a Windows problem and not a TT problem. I installed TT on my computer and did the Federal and State returns for my wife and I (MFJ). My daughter (who mostly lives with us) has a login on the same computer. So she logged into her account and tried to start TT, but it wanted her to log in to her Intuit account and register the software again. She does have an Intuit account, but obviously the copy of TT was already registered.

So it sounds like she will need to do her taxes while logged into my Windows account, but I'm assuming (hopeful?) that she can use her own Intuit account when she is downloading W-2s and 1099s. Is that right?
by Horsefly
Mon Feb 19, 2024 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Capital One [is/is considering] buying Discover
Replies: 29
Views: 3533

Re: Capital One [is/is considering] buying Discover

I only know either Capital One or Discover from my credit cards. I have one from each, as well as a few from Chase and Barclays. I got pretty angry with Capital One two years ago because they cut my credit limit by 67% with no warning and no opportunity to restore it, despite having a 830 FICO score. It may be a little thing, but that convinced me that I didn't want to do expand my dealings with them. I still have that one credit card (Quicksilver) and would have otherwise considered getting a Venture card. On the other hand, my Discover card is my oldest credit line (nearly 30 years) and I've been very happy with them.
by Horsefly
Sun Feb 18, 2024 11:42 am
Forum: Personal Finance (Not Investing)
Topic: What inflation rate are you using?
Replies: 56
Views: 4866

Re: What inflation rate are you using?

I just found this thread at an opportune time, as I've been doing some work on my own Monte Carlo spreadsheet four our retirement. We (DW 66, me 65) retired at age 55 in 2013, and that year I put together my spreadsheet. The spreadsheet is only about modeling post-retirement, estimating expenses, inflation, and ROI for each year. I've actually got three models: Optimistic, Nominal, and Pessimistic. In the three models I use a normal distribution of ROI from year to year, and the three models have different mean and standard deviation for the ROI. Until yesterday I had fixed inflation estimates for the three models (but a different fixed percentage for each, optimist was lowest inflation, pessimist was highest). Yesterday I decided to also u...
by Horsefly
Tue Feb 13, 2024 8:10 pm
Forum: Investing - Theory, News & General
Topic: Tax Deferred : Taxable : Tax Free
Replies: 260
Views: 23330

Re: Tax Deferred : Taxable : Tax Free

... I favor taxable growth over Roth, given legacy advantages. Can you elaborate on this a bit more? I would have thought that the Roth is more advantageous for leaving to your heirs. Or maybe you mean something else regarding "legacy advantages"? I don't mean to derail this great thread. Inherited Roth IRA's are subject to RMD's with a ten year liquidation rule. Taxable accounts are inherited with a stepped-up basis. My taxable account is almost 100% VTSAX, thus very tax efficient, currently less than 1.5% yield, and almost all qualified dividends. But, the RMD's on a Roth still are not taxable, including the gains. So I guess I would still not understand. The Roth grows tax free until the death of the owner, and then the non-sp...
by Horsefly
Tue Feb 13, 2024 6:07 pm
Forum: Investing - Theory, News & General
Topic: Tax Deferred : Taxable : Tax Free
Replies: 260
Views: 23330

Re: Tax Deferred : Taxable : Tax Free

r.walker wrote: Tue Feb 13, 2024 5:09 pm ...
I favor taxable growth over Roth, given legacy advantages.
Can you elaborate on this a bit more? I would have thought that the Roth is more advantageous for leaving to your heirs. Or maybe you mean something else regarding "legacy advantages"? I don't mean to derail this great thread.
by Horsefly
Mon Feb 12, 2024 11:40 am
Forum: Investing - Theory, News & General
Topic: Tax Deferred : Taxable : Tax Free
Replies: 260
Views: 23330

Re: Tax Deferred : Taxable : Tax Free

Horsefly wrote: Sat Nov 30, 2019 9:36 pm 68% : 22% : 10%

We retired at 55, now 61/62. Discovered BH after retirement. :oops: I'm pretty sure tax rates are going up, so we have been actively trying to convert from t-IRA to Roth every year. Not sure we will make enough of a dent by age 70.5, but hopefully.
So I'm looking back at what I posted here in late 2019, compared to now. We've been fairly aggressively doing Roth conversions for those four years, but only making modest progress. We are now 65/66, and here's our new percentages:

61% : 21% : 18%

I estimate that Federal taxes on those Roth conversions has cost us about 2% of the total nest egg, which I guess is not bad in the overall picture. We will probably continue doing somewhat large conversions until we start RMDs.
by Horsefly
Thu Sep 07, 2023 5:43 pm
Forum: Personal Consumer Issues
Topic: Don't pay full price for SiriusXM radio
Replies: 649
Views: 113106

Re: Don't pay full price for SiriusXM radio

vbjd1111 wrote: Thu Sep 07, 2023 2:50 pm
the agent said it didn't include streaming
I got the $99/three year deal in July and I stream regularly, just as I did before changing to that plan.
I was afraid of that. :( I guess I could complain, but not sure it would go anywhere. I did save the chat session, so I have the proof if in fact it was a lie.
by Horsefly
Wed Sep 06, 2023 3:19 pm
Forum: Personal Consumer Issues
Topic: Don't pay full price for SiriusXM radio
Replies: 649
Views: 113106

Re: Don't pay full price for SiriusXM radio

Our subscription was up tomorrow (7-Sep), so I got on the website to cancel and got routed to a Chat with a CSR. We only listen to one channel, 90% streaming and 10% on the car radio. I asked about the $99 for three years, and the agent said it didn't include streaming. Instead, he offered the $5.99 per month for 12 months, and I got him to extend it to 24 months so I don't have to repeat this dance again in a year.
by Horsefly
Fri Mar 24, 2023 1:54 pm
Forum: Personal Investments
Topic: yet another Social Security timing Q
Replies: 31
Views: 3494

Re: yet another Social Security timing Q

Ok, thanks @ObliviousInvester and @twh.

I guess I neglected to say it, but my wife's PIA is about 15% less than mine.

We decided to go ahead and file for her. She's all excited now - I think she believes she's got some extra spending money every month that she wasn't expecting!

We're still doing Roth conversions every year, so I may have to watch that to make sure we don't take a bigger IRMAA hit than we already are.
by Horsefly
Fri Mar 24, 2023 1:28 pm
Forum: Personal Investments
Topic: yet another Social Security timing Q
Replies: 31
Views: 3494

Re: yet another Social Security timing Q

I don't mean to hijack this thread, but I have a related question.

Wife and I are both retired. She turned 65 last October, I turned 65 a few days ago.

I think (?) I ran Open Social Security (OSS) a few years ago (~2019) and I also ran Maximize My Social Security (MMSS) about the same time. I know MMSS recommended that we both wait until we turn 70 to file for SS benefits (actually 69.5 for my wife), and I thought OSS came up with the same recommendation.

I just ran OSS again, and it says my wife should file now, and I should wait until age 70. I also ran MMSS, and it still says wait.

Did OSS change their model some? Is there a flaw in the MMSS model?
by Horsefly
Sun Feb 05, 2023 10:02 am
Forum: Personal Finance (Not Investing)
Topic: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements
Replies: 45
Views: 9151

Re: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements

ssel wrote: Sun Feb 05, 2023 3:54 am
will change your statement cycle date to the end of each month
So for those that got this done, do your statements come out at the end of the month now? Is interest credited on the last day of the month?

My statement cycle date currently is mid-month, which isn't critical but kind of nice.
Yes. Before, mine had ended on the 10th or 11th of each month, and it switched to the end of the month when I switched to e-delivery. Interest is credited on the last day of the month. I didn't care one way or the other.
by Horsefly
Sat Feb 04, 2023 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements
Replies: 45
Views: 9151

Re: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements

... After some time, the agent explained that due to both Ally Policy and Law they had to send us paper statements because our account was registered under our Trust. ... "Our" trust? Your profile says that you're in Colorado, which isn't a community property state. Unless you moved to Colorado from a community property state, wouldn't you each have separate trusts, or since Colorado is a Uniform Probate Code state (which means simplified procedures) no trust? Well, as you've been able to tell from my previous posts, I may be highly educated but I seem to have a mental block for much of the trust terminology. As a result, I don't know if I can give you a very complete answer to your question. Ours is a family trust, with my wife ...
by Horsefly
Sat Feb 04, 2023 11:19 am
Forum: Personal Finance (Not Investing)
Topic: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements
Replies: 45
Views: 9151

Re: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements

It is good to know about the form - and I will try that, but my real problem has been the inability to get 1099s electronically during tax season. USPS forwarding hasn't worked real well for me for the Ally 1099s (the paper statements seem to forward to the mail service just fine, but not the 1099s. Some years they work and others they don't. This will be our last year with Ally if they cannot fix the lack of electronic 1099s. I wind up having to file an extension just because I cannot be absolutely sure what is on the 1099. Has anyone been able to get Ally 1099s electronically if they are in a trust? I get the same lies from Ally as you all do regarding (1) its a regulation - and when I correct that they (2) say its their policy. Hi - I s...
by Horsefly
Mon Jan 02, 2023 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

For those like me who either don't think they will ever see the Fidelity discount (or don't want to keep hunting for it): I just bought TurboTax Premier (Federal + Federal e-File + state return) at Costco for $82.99 with an instant $18 discount (applied at the register), for a net cost of $64.99. It also includes a $10 credit for in-product add-ons. I assume the state E-File would count for the $10 credit.

The package comes with a CD, or you can download the product.

There was also discounts on TurboTax Deluxe, but I didn't notice the price or discount amount.
by Horsefly
Fri Dec 23, 2022 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

FreddieFIRE wrote: Fri Dec 23, 2022 12:46 pm Log into your account
Click on the "summary" tab
Confirm that your UI is set to "Beta"
Scroll to bottom of page
Look for TurboTax offer
The TurboTax offer is not there on my summary page, in Beta or not. Sounds as though I'm not alone. My account value is more that 10x the 500k that was mentioned a few posts back, and my statements say I'm PCG.
by Horsefly
Fri Dec 23, 2022 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

DSBH wrote: Fri Dec 23, 2022 12:13 pm Just tested again a few mins ago ... After I logged in, I typed "turbotax" into the search box at the top right corner of the Summary page and clicked "search". It came back with a URL titled "TurboTax Discount - Fidelity" at the top of the page. Clicking on it took me to a page titled "Exclusive offer on TurboTax® Premier" with a blue box titled "Get Started Now". Clicking on the blue box took me to a warning page (about external link etc.) and then the Intuit page.
Yeah, I go through the same steps and get to a point where I can pay $90 to download TT Premier. That's with the $20 discount that the Fidelity Turbotax discount promises, but not the $5 price others here are reporting.
by Horsefly
Wed Dec 21, 2022 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1036713

Re: Fidelity as a one stop shop

The Fidelity Green Line Forum (GLF) asks me to participate in research questionnaires frequently. The one they sent out today was asking me how I would feel about some enhancements they were considering making to their cash management feature. Basically, it was to provide 4% interest on cash holdings in a cash management account as long as there was a direct deposit of at least $500 every 90 days. They were also asking what bank (or bank-like company) I used for checking, savings, and cash management. They clearly are hoping to get people to move from such banks for their main banking needs.

Seemed pertinent to this thread.
by Horsefly
Mon Dec 19, 2022 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

My rep was getting us dinners and lunches 10 years ago. I was DIY the whole time, so only heard from them infrequently. The free meals stopped a while ago, even though our account value has more than doubled since then. Still he has done some great help for us, helping to get our trust reviewed for free by a Fidelity lawyer, helping to dissolve a partnership in a simple way, and a couple of other things.

So I'm in the camp of having a rep has only been a good thing. They've never pressured me, and they have helped when I needed help, even though I don't provide any commissioned work for them.

Even though I'm apparently PCG, it has been so long since I've heard from them I don't even know if I have the same rep now, or if I have one at all.
by Horsefly
Sat Dec 17, 2022 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on trust distributions
Replies: 12
Views: 1033

Re: Tax on trust distributions

cas wrote: Sat Dec 17, 2022 4:20 pm
Horsefly wrote: Sat Dec 17, 2022 12:17 pm If it goes to my Mom's final tax return, it would be $20K of long-term gains, but if it goes to each of our returns I guess it would be $12K (each) of short-term gains. Eeek!
From IRS Publication 559 "Survivors, Executors, and Administrators":
Basis of Inherited Property -> Holding period. If you sell or dispose of inherited property that is a capital asset, the gain or loss is considered long-term, regardless of how long you held the property.
Thanks for that great news!
by Horsefly
Sat Dec 17, 2022 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on trust distributions
Replies: 12
Views: 1033

Re: Tax on trust distributions

The trust continues after the decedent's death, but grantor trust status terminates on the date of death. After the date of death the trust becomes its own separate taxpayer and a new EIN must be obtained for the trust, and a trust income tax return Form 1041 filed for the period starting the day after decedent's death through Dec 31st, listing all income for that period. After death, trust accounts in the decedent's SSN should be changed to the new trust EIN. Any income or sales proceeds reported on 1099s under the SSN that include amounts after date of death need to be properly apportioned between the decedent's final income tax return and the trust income tax return. It's best to report the full amount on the decedent's return to coinci...
by Horsefly
Sat Dec 17, 2022 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

I personally do not think it has anything to do with you giving them commissions. I do zero trades and I'm 100% DIY. I have been a private client for sometime. I get no cold calls. I have never been pressured to have an advisor. I do receive emails periodcially to signup for webinars on various topics. I never call and ask where is my free version of Turbotax. I have received free Turbotax for at least the last five years. FWIW, my offer shows up between the last week of December and the middle of January. Best of luck. Yep, you and I are in the same boat. I get almost daily emails about webinars. I do get a call about once a year just asking if I would like to meet with my rep and discuss anything, and I just say thanks but no thanks. I'v...
by Horsefly
Sat Dec 17, 2022 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on trust distributions
Replies: 12
Views: 1033

Tax on trust distributions

This seems like it may be a stupid question, so go easy on me if it is... :happy My mother passed away in Feb-2022. Virtually all of her assets were in a Fidelity trust account. Mom was 96 and had been in hospice for almost a year. Because of her being in hospice, she moved the trust to my sister as trustee (with Mom still being the beneficiary). The trust instructions (and her will) directed that all the assets be split equally between her three kids. The trust was a grantor trust, so all the income and gains every year flowed into Mom's personal taxes. She passed late on a Thursday, and my sister liquidated the ETFs and Mutual Funds the afternoon of the following Monday when she got back from a trip. Fidelity did a great job giving us a &...
by Horsefly
Sat Dec 17, 2022 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2022
Replies: 473
Views: 58532

Re: Fidelity free Turbotax 2022

Having gotten the free Turbotax offer for several years, I found this thread and am now catching up. Like most here, I'm buy & hold and completely DIY. Still, we've been tagged as PCG and had a VP Rep assigned to us for many years. When logging in to check for the Turbotax offer, I no longer see anything about my PCG status (I don't remember where I would see that on the web page), and the like to contact the rep doesn't seem to be where I thought it was. I just checked and see that my November statement does still say that I'm PCG. Anyway, like others it appears that my lack of giving them commissions means I don't get the $5 price for Turbotax. The $20 discount from Fidelity still leaves the price higher than just buying it at Costco,...
by Horsefly
Wed Jul 06, 2022 11:46 am
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

Yeah, Experian is a hot mess right now.... I (the OP) thought I should provide an update. I had sent in the letter to Experian that they required to regain access to my account, along with a photocopy of my DL and a bank statement. Just after I sent it someone here posted that after having the same problem they just went in and created a new account, so I did that and it worked. Hot mess #1: The letter was sent on 22-Jun, and I wasn't particularly bothered that I hadn't heard anything. But then on 29-June I got an email from them asking me to complete a survey to tell them how well they did in response. So naturally I gave them a 1-out-of-10, with an explanation that they had not done anything. :shock: Hot mess #2: Yesterday I got a letter ...
by Horsefly
Tue Jun 28, 2022 9:29 pm
Forum: Personal Investments
Topic: IRMAA after last Roth conversion
Replies: 30
Views: 3909

Re: IRMAA after last Roth conversion

Horsefly, I'd like to share a slightly different perspective, that may make things clearer for you. My wife turns 65 this year, and I turn 65 next year. We've been doing Roth conversions since we retired at age 55. I knew IRMAA would hit us this year, since we did a Roth conversion in 2020 that showed up on our 2021 AGI . The Roth conversion you did in 2020 showed up on your 2020 tax return (as part of your 2020 AGI ), which was filed in 2021 and your 2020 MAGI (AGI+untaxed interest) impacted your 2022 IRMAA charges. The Roth conversion you did in 2021 showed up on your 2021 tax return, which was filed in 2022 and your 2021 MAGI (AGI+untaxed interest) will impact your 2023 IRMAA charges. The Roth conversion you will do in 2022 will show up...
by Horsefly
Sat Jun 25, 2022 10:40 pm
Forum: Personal Investments
Topic: IRMAA after last Roth conversion
Replies: 30
Views: 3909

Re: IRMAA after last Roth conversion

Well, this this thread has educated way beyond my original question! (I'm the OP) It's great discussion about whether IRMAA reduces taxable SS benefits (apparently not), so I'll sock that away for later. Problem is, we (DW and I) are almost certainly not applying for SS until we are 70, but will be certainly paying IRMAA for at least the next couple of years, and maybe more if we continue to do Roth conversions. I know it is a good problem to have, but we've been doing $150k-200k Roth conversions for the past 9 years and haven't really reduced the size of our tIRAs much. So to make the "RMA problem go away" would require a huge conversion that I don't think we will bother with. We mostly have been just trying to make things easier...
by Horsefly
Thu Jun 23, 2022 9:30 pm
Forum: Personal Investments
Topic: IRMAA after last Roth conversion
Replies: 30
Views: 3909

Re: IRMAA after last Roth conversion

Thanks for all the replies folks. Unfortunately, you confirmed both what I feared the rule was, and that I really was too naïve to just know that. :oops:
by Horsefly
Thu Jun 23, 2022 11:52 am
Forum: Personal Investments
Topic: IRMAA after last Roth conversion
Replies: 30
Views: 3909

IRMAA after last Roth conversion

I have a relatively simple question about Roth conversions and IRMAA. I found lots of discussions about those two things, but I couldn't find anything specifically addressing my question. That may be because it is such a simple question that everyone else knows. :oops: My wife turns 65 this year, and I turn 65 next year. We've been doing Roth conversions since we retired at age 55. I knew IRMAA would hit us this year, since we did a Roth conversion in 2020 that showed up on our 2021 AGI. I decided it was worth it to get at least a couple more sizeable conversions done. Here's my question. Since IRMAA looks back two years, what happens if - for example - this year is our last Roth conversion? Our AGI will be quite a bit lower on next year's ...
by Horsefly
Wed Jun 22, 2022 5:24 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

.... I ended up creating a new "service Account" and after verifying all my information was able to get the spot where I could unfreeze. Had to do the exact same thing for my wife also Ok, so you win the prize. It would not have occurred to me to try and create a new account. It let me, so now I'm in! I haven't tried yet, but all indications are it will let me temporarily lift the freeze. Sadly, the letter to Experian with all my proof of who I am just went out in the mail. Things being the way they are, I bet everything will be messed up again once Experian processes my letter. For everyone else who is having the same trouble, it sounds like @Brewman has the solution. Just go in and create a new account like you never had one be...
by Horsefly
Tue Jun 21, 2022 10:23 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

I don't know how recently, but Experian used to freeze/unfreeze with a pin you received in snail mail. That's how I used to do it. Sometime semi recently though (past year or 2?), they created an online account. Since I didn't have it saved in 1password, I knew I had never made one. I was able to create a new account online at Experian where I can now freeze/unfreeze without the old pin. Are you sure you had an Experian username/password from before and didn't do it with the name/pin form like I used to? Yeah, I remember when they used a PIN. All of them did that. Then after the Equifax debacle they all switched to a username/password account thing. I know my username and password worked in March of this year, as I unfroze temporarily to g...
by Horsefly
Tue Jun 21, 2022 4:04 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

So here's an interesting - and relieving - update. Although I can't access my account on Experian and can't lift the freeze on my file, I decided to try and get my credit report via AnnualCreditReport.com. I was pretty certain it wouldn't let me see it, since Experian seems to think my SSN and birthday don't go together. But, to my surprise, I got the report! Perhaps more importantly, the report has nothing out of line and it all looks good. So this is clearly an IT SNAFU by Experian. I'm still mailing in the stuff to get access to my freeze. At least your credit report doesn't show any problems, that's a relief. This whole story is very disturbing. These 3 agencies have all our important information and IMO are not careful with it whether...
by Horsefly
Tue Jun 21, 2022 9:52 am
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

So here's an interesting - and relieving - update.

Although I can't access my account on Experian and can't lift the freeze on my file, I decided to try and get my credit report via AnnualCreditReport.com. I was pretty certain it wouldn't let me see it, since Experian seems to think my SSN and birthday don't go together. But, to my surprise, I got the report! Perhaps more importantly, the report has nothing out of line and it all looks good.

So this is clearly an IT SNAFU by Experian. I'm still mailing in the stuff to get access to my freeze.
by Horsefly
Mon Jun 20, 2022 3:42 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

I shut down access to my credit report with all 3 bureaus several if not 10 years ago. At the time, I believe the term credit freeze was not the same thing as a credit lock and I think the lock was a tighter locking of the credit report where a freeze was good for some timeframe like maybe 2 years. Now I can't remember which I did but I chose the one that was the most restrictive. Only once did I need to unlock it with one bureau about 2+ years ago and it went OK. Maybe now they are pretty much the same though there does seem to be a difference as Experian discusses each in that a lock is something you pay for. I didn't pay when I did it and I'm pretty sure there was no charge to do either back then. https://www.experian.com/blogs/ask-expe...
by Horsefly
Mon Jun 20, 2022 1:04 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

runninginvestor wrote: Mon Jun 20, 2022 12:50 pm
Horsefly wrote: Mon Jun 20, 2022 12:46 pm Well, I called Experian today. I can't figure out how to get past the automated system, so I worked with it. It gave me two options: (1) Use the web page to try and reauthorized myself, or (2) Send via snail mail a letter with photocopies of several things. I already know that the web page says my birthdate doesn't match with my SSN, so that is a no-go. So I guess I'll do the snail mail. Ugh. :oops:
One other thing to try: Look at your other credit reports and see if they list any other reported birthdays. Maybe some system is combining you w/ someone else and you'll traces in the other files.
Yep, did that. Both Transunion and Equifax seem to have everything right about me.
by Horsefly
Mon Jun 20, 2022 12:46 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

Well, I called Experian today. I can't figure out how to get past the automated system, so I worked with it. It gave me two options: (1) Use the web page to try and reauthorized myself, or (2) Send via snail mail a letter with photocopies of several things. I already know that the web page says my birthdate doesn't match with my SSN, so that is a no-go. So I guess I'll do the snail mail. Ugh. :oops:
by Horsefly
Sun Jun 19, 2022 12:53 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

meadowrue wrote: Sun Jun 19, 2022 10:28 am This exact same thing happened to me last week so I think it must be a technical glitch on their end. I haven’t called them yet but would love to know what you find out.
I'm not sure that it makes me feel better that someone else had the same problem, but maybe it does a little. Misery loves company... :)

I'll post back here if I get some info from Experian.
by Horsefly
Sun Jun 19, 2022 12:52 pm
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

Yep, that's the site I went to, and for which my saved username and password are for. I don't think I've ever heard of Experian Identity Works, so I have no saved passwords for that site. Shoot, hopefully it resolves w/ no issues. In the meantime, have you tried just: 1. Creating a new account? Maybe that'll shed light if it says another account exists or if you're able to make a new one then maybe they purged accounts at some point/updated their systems. 2. Check Transunion/Equifax to ensure there's nothing fishy. I guess I could try to create a new account, but since Experian doesn't think my birth date goes with my SSN, I think I won't get very far. I did check the Transunion and Equifax data reported to Credit Karma (hard inquiries, nu...
by Horsefly
Sun Jun 19, 2022 10:18 am
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Re: Experian Login Failure

Yep, that's the site I went to, and for which my saved username and password are for. I don't think I've ever heard of Experian Identity Works, so I have no saved passwords for that site.
by Horsefly
Sun Jun 19, 2022 9:53 am
Forum: Personal Consumer Issues
Topic: Experian Login Failure
Replies: 42
Views: 13513

Experian Login Failure

I was applying for a new credit card this morning, but before I did I knew I needed to unfreeze (temporarily) the three credit bureaus. Transunion and Equifax worked fine, but my login failed on Experian. I save username / passwords both in BitWarden and Google Chrome, and I double checked that they were the same. I know I logged in earlier this year just fine, so I wasn't sure what it could be. I decided the obvious next step was to do the "forgot password" on the site. It asked me for my email address (which hasn't changed in 20 years), but then it came back saying that there was no account with that email address . Ok, so at this point I'm starting to get a little worried. Did I somehow use something other than my email address...
by Horsefly
Mon Dec 27, 2021 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1036713

Re: Fidelity as a one stop shop

Like @JoeMoney, I qualify for Private Client Group, and Fidelity has assigned a V.P. rep to me. I think I've had three now, as they move on to other jobs eventually. The current one contacted me soon after he came on board, and ask that we meet the next time in the area, just to introduce ourselves. He asked for 5 minutes, and that was all it took. He said that he heard that I was DIY and didn't want an advisor, so he was not going to bug me about it. He did say to let him know if I ever had any questions or wanted any help. There have been two times that my Fidelity rep has really helped me, even though I don't have him manage my investments. I asked if they had any trust experts that could just review our trust documents and see if we nee...
by Horsefly
Thu Dec 23, 2021 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements
Replies: 45
Views: 9151

Re: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements

This thread is a few years old, but things have changed on this subject at Ally. I also complained persistently about wanting to go paperless on my Living Trust account. Eventually I got an email stating: "We’ve heard your feedback regarding statement delivery preferences for the account for your Trust. We are pleased to inform you that we have enhanced our system to support your request to receive Trust statements online. If you prefer to receive your Trust’s statements online, we ask that you complete the following steps: 1) Provide your electronic consent through Ally Online Services (AOS), if applicable. Please note that you must have online login credentials in order to access AOS. 2) Fill out and send the enclosed form to the ad...