Search found 24 matches

by NeverGiveUP
Thu Oct 11, 2018 7:01 am
Forum: Personal Finance (Not Investing)
Topic: confused about medicare threshold
Replies: 11
Views: 922

Re: confused about medicare threshold

Thanks to all of you I now understand.
I was confusing 'direct Roth contribution MAGI' and 'IRMAA MAGI'.
Thanks very much to all for taking the time to educate me :)
by NeverGiveUP
Wed Oct 10, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: confused about medicare threshold
Replies: 11
Views: 922

Re: confused about medicare threshold

With the help from all of you I now understand the answer to my original questions. But now I have another related question. Does a conversion from a T-IRA to Roth count in the calculation of MAGI for determining if we will be over the $170,000 threshold for Medicare premiums? I understand that such...
by NeverGiveUP
Wed Oct 10, 2018 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: confused about medicare threshold
Replies: 11
Views: 922

Re: confused about medicare threshold

OP here - yes I am married, filing jointly. Sorry I forgot to include that...
by NeverGiveUP
Wed Oct 10, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: confused about medicare threshold
Replies: 11
Views: 922

confused about medicare threshold

I believe I will have to pay a higher premium for Medicare if I go above a $170,000 threshold. I am unclear what amount the threshold represents. I have the following income sources: 1) taxable pension 2) taxable part-time job 3) taxable windfall from insurance policy 4) taxable interest and dividen...
by NeverGiveUP
Sun Aug 12, 2018 9:14 am
Forum: Personal Consumer Issues
Topic: Joint checking accounts.
Replies: 26
Views: 2164

Re: Joint checking accounts.

Everything goes into a joint account. Bills are automatically paid from that. We have no problems with the way it works.
by NeverGiveUP
Thu Aug 09, 2018 9:57 am
Forum: Personal Consumer Issues
Topic: Anyone familiar with attic fans?
Replies: 32
Views: 2169

Re: Anyone familiar with attic fans?

Our house has one way up in the attic rafters - it was there when we bought the house. It has an easily accessible on/off switch . The problem is that it is controlled by a thermostat which is next to the fan and we don't know the temperature setting that causes it to go on. I have read that some pe...
by NeverGiveUP
Mon Jul 16, 2018 5:22 pm
Forum: Personal Consumer Issues
Topic: Heart Rate Monitors Fitbit vs. Garmin
Replies: 31
Views: 2458

Re: Heart Rate Monitors Fitbit vs. Garmin

I bought a Fitbit Versa for my wife. It is nice looking and has a lot of features. Unfortunately we had nothing but problems with it. It wouldn't synch consistently - sometimes it would, sometimes it wouldn't. We also couldn't get the notifications from her phone to show up on the device consistentl...
by NeverGiveUP
Mon Mar 26, 2018 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

I'm the OP - just want to let you all know the outcome. I returned to the bank today and spoke to a knowledgeable rep. Long story short, my existing CD's will renew into "no-penalty" CD's that have a competitive rate, allowing me to terminate them at any time with no early termination penalty or los...
by NeverGiveUP
Sun Mar 25, 2018 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

ResearchMed - I don't know what you mean by 'cash'. When I was at the b&m yesterday I was told that the bank didn't offer an IRA account that I could let the non-renewed IRA CDs go into - they would no longer be IRA. According to the rep, to keep them as IRAs my choices were to let the CDs renew or ...
by NeverGiveUP
Sun Mar 25, 2018 9:07 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

Retiredjg - I did miss your post - I apologize. Thank you very much for that warning and for taking the time to make sure I didn't miss it. ResearchMed - Good idea - I hadn't thought of Fedexing. I'll see if throwing that into the mix will allow the procedure to get finished within the time frame. W...
by NeverGiveUP
Sun Mar 25, 2018 8:22 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

ResearchMed - no, there is nothing special about the CD's. When I got the CD's it was a nice small local bank, but it has been gobbled up by a larger bank and they aren't too customer friendly. That, coupled with their paltry IRA CD rates is the reason for me to move on. I don't have an account at t...
by NeverGiveUP
Sun Mar 25, 2018 7:54 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

ResearchMed, the CD's mature 04/06 with a 10 day grace period. I contacted Ally and Everbank yesterday. I would have to start a new account at either, and would go with either. They both indicated that it would be very close time-wise for the direct transfer because some of the paperwork has to go v...
by NeverGiveUP
Sun Mar 25, 2018 7:26 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Re: Need quick IRA transfer advice

ResearchMed, I messed that up - yes, they are both CDs. This is kind of my life savings, so let me make sure I understand 100%. I will tell the current bank to not let the CD's renew, will ask for FOB checks made out to the new online bank, send the FOB checks to the new online bank after establishi...
by NeverGiveUP
Sun Mar 25, 2018 6:06 am
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1138

Need quick IRA transfer advice

I have an two IRAs that are maturing next week at a b&m bank. I got a late start on moving them to a different bank and am finding that the online banks I would like to transfer the funds to don't think they can get the transfers done in time. I certainly want these to be trustee-to-trustee transfer...
by NeverGiveUP
Fri Mar 02, 2018 12:21 pm
Forum: Investing - Help with Personal Investments
Topic: complicated roth conversion
Replies: 5
Views: 523

Re: complicated roth conversion

I am good with all of the consequences of the conversion - the conversion is to avoid future higher tax brackets. Thanks for thinking of the tax implications, but I am good with that. Please don't get hung up on why I am doing this since I believe that part is well thought out. I am totally unfamili...
by NeverGiveUP
Fri Mar 02, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: complicated roth conversion
Replies: 5
Views: 523

complicated roth conversion

I have the following: $150,000 IRA CD at bank A, expiring on 04/06. $29,000 Roth CD at bank A, expiring on 04/06. $36,000 Roth CD at bank B, expiring on 05/06. I am going to convert half of the $150,000 CD at bank A into a Roth. Ideally I would like to add that conversion to one of the other two exi...
by NeverGiveUP
Sun Feb 18, 2018 8:34 am
Forum: Personal Consumer Issues
Topic: Any Creative Ways to Cut the Cable?
Replies: 49
Views: 5318

Re: Any Creative Ways to Cut the Cable?

A couple of years ago I bought a Tivo OTA with lifetime service at a great price. I also picked up an Ooma Telo for my phone service. I kept FIOS 50/50 for internet - I don't know a way around that one. We don't watch a lot of TV so we are able to record the shows we want and can watch them at our l...
by NeverGiveUP
Sat Jan 13, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion confusion
Replies: 28
Views: 1551

Re: Roth conversion confusion

OP here. retiredjg - Bingo! You hit the nail right on the head in your last post. In addition to what you wrote, I live in NJ and want to keep my taxable income below $100,000 to get the 'retirement income exclusion'. The two year conversion window is what I'm looking at because after that soc sec k...
by NeverGiveUP
Sat Jan 13, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion confusion
Replies: 28
Views: 1551

Roth conversion confusion

I am converting my T-IRA to Roth because I do not want RMD's. I would like to convert some of it each year for tax purposes. I am confused about when I have to start taking RMD's and their relation to tax years. Let's say my birthday is 01/15/1950. In 2018, I am 68, and pay income taxes on 2017 inco...
by NeverGiveUP
Mon Feb 08, 2016 6:51 am
Forum: Personal Finance (Not Investing)
Topic: file for social security so wife can get widow benefit?
Replies: 8
Views: 1504

Re: file for social security so wife can get widow benefit?

Thanks to all for the guidance!

Mike - I picked up a copy of your Social Security e-book on Amazon and will use it to add to my understanding of this complex subject.
by NeverGiveUP
Fri Feb 05, 2016 11:20 am
Forum: Personal Finance (Not Investing)
Topic: file for social security so wife can get widow benefit?
Replies: 8
Views: 1504

Re: file for social security so wife can get widow benefit?

" However, I would run the numbers or even better yet, post them here for both of your PIA amounts (the benefit amount at age 66 for each of you) to get the opinion of others here. " Vested1 - here are the numbers if anyone would like to offer advice: Me: 66 years old -- excellent health -- PIA = $2...
by NeverGiveUP
Fri Feb 05, 2016 10:16 am
Forum: Personal Finance (Not Investing)
Topic: file for social security so wife can get widow benefit?
Replies: 8
Views: 1504

Re: file for social security so wife can get widow benefit?

:oops: Oh boy - I made a horrible error, my wife doesn't turn 62 until next month. I am very sorry for the misifnormation. (I hope she doesn't read these forums). That will eliminate some option(s) for us. I am in the process of trying to educate myself on this topic, but am finding it very complica...
by NeverGiveUP
Fri Feb 05, 2016 8:29 am
Forum: Personal Finance (Not Investing)
Topic: file for social security so wife can get widow benefit?
Replies: 8
Views: 1504

file for social security so wife can get widow benefit?

I am 66 years old, my wife is 62. I want to wait until I am 70 before filing for Social Security. We are unsure on when my wife will file, but we want to put it off as long as we can. If I pass away before filing for Social Security will my wife still be able to get a widow benefit? If so, how would...
by NeverGiveUP
Tue Nov 03, 2015 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: How to add to Roth?
Replies: 3
Views: 567

How to add to Roth?

I am 61 years old. Last year I took out a 12 month Roth IRA CD for $6,500. I want to put another $6,500 into Roth this year. When the current Roth CD expires, can I combine its $6,500 and add the new $6,500 and take out just one Roth CD for $13,000? Or do I have to do two separate Roth CD's, each fo...