Search found 91 matches

by walkindude
Tue Jul 07, 2020 1:48 pm
Forum: Personal Investments
Topic: Withdraw patterns in retirement
Replies: 8
Views: 580

Re: Withdraw patterns in retirement

We all know the tried and true 4% rule and have beat it to a pulp. My question revolves more around taking more than 4% for several years before one is eligible for Social Security, then reducing, and how to best analyze that scenario. Suppose the following: Wish to retire at 55 $1.25 million saved...
by walkindude
Sun Jun 07, 2020 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 4433

Re: Another Round Retirement Plan

You ask a very good and intricate question; are your taxes higher now than when your wife is a widow and retired. As a single widow the 12% tax bracket is $9,876 - $40,125. The standard deduction for a widow over 65 is $25,700. What that means is she will pay 0% taxes up to an income (25,700 + 9,87...
by walkindude
Tue Mar 10, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4663
Views: 904082

Re: What's Your Credit Card Rewards Strategy?

EnjoyIt wrote:
Tue Mar 10, 2020 1:16 pm
...If each person has 2 cards that is $6k alone right there and we spend more than $6k on groceries every month (yes, I know that is more than some bogleheads but that is another topic.)...
I assume you mean $6k/quarter? If not, that IS a whole lot of grocery spending!
by walkindude
Tue Mar 10, 2020 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Signed a new job contract - realized I could have get a higher salary
Replies: 74
Views: 7353

Re: Signed a new job contract - realized I could have get a higher salary

BolderBoy wrote:
Tue Mar 10, 2020 11:12 am
So, prove your value by working hard and loyally. A proper raise should follow. If it doesn't, you'll have gained more experience to take to the next employer.
+1 - just do a great job there. The rest will fall into place.
by walkindude
Wed Mar 04, 2020 11:34 am
Forum: Personal Investments
Topic: Allocating Funds for Optimum Tax Strategy
Replies: 7
Views: 373

Re: Allocating Funds for Optimum Tax Strategy

First, search "Back Door Roth". Your income may exclude you from regular Roth contributions, but you can still do back door Roth for both each year. Don't lose that benefit. But they have existing Traditional IRAs, which greatly complicates/reduces the effectiveness the backdoor Roth due to the pro...
by walkindude
Thu Aug 15, 2019 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 17806

Re: Long-Term Care Decision

I was not being facetious. A healthy couple in their early 60's can buy $1.5M of LTCi benefits for about $6K/yr in premium. It would pay $100K per year per spouse. One spouse could use up to $1.0 million in benefits, reserving the other .5M for the other spouse. It's available in 47 states (NOT NY,...
by walkindude
Thu Aug 15, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 17806

Re: Long-Term Care Decision

I was not being facetious. A healthy couple in their early 60's can buy $1.5M of LTCi benefits for about $6K/yr in premium. It would pay $100K per year per spouse. One spouse could use up to $1.0 million in benefits, reserving the other .5M for the other spouse. It's available in 47 states (NOT NY,...
by walkindude
Fri Jul 19, 2019 7:16 am
Forum: Investing - Theory, News & General
Topic: [Fidelity Health Savings Account Mega-Thread]
Replies: 1087
Views: 121831

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Thanks, All, for this thread. My TDA/HSA Bank transfer to Fidelity happened in 2 days. Crazy fast. I moved everything to TDA first and transferred all in kind. The money market cash hasn't shown up yet, but somehow is showing up in the portfolio total. The only bad thing is I thought I waited long ...
by walkindude
Sun Jul 07, 2019 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Revised Budget Check
Replies: 15
Views: 1229

Re: Revised Budget Check

We've got travel, dining out, hair/beauty, clothes, charitable gifts, family gifts, subscriptions (mags, music service, Prime), and car replacement as well. I know your personal allowance and miscellaneous categories cover some of this, but these far exceed your $1000/month allocation for us and ou...
by walkindude
Sun Jul 07, 2019 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Revised Budget Check
Replies: 15
Views: 1229

Re: Revised Budget Check

We've got travel, dining out, hair/beauty, clothes, charitable gifts, family gifts, subscriptions (mags, music service, Prime), and car replacement as well. I know your personal allowance and miscellaneous categories cover some of this, but these far exceed your $1000/month allocation for us and our...
by walkindude
Fri Jun 28, 2019 6:22 am
Forum: Investing - Theory, News & General
Topic: [Fidelity Health Savings Account Mega-Thread]
Replies: 1087
Views: 121831

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Thanks, All, for this thread. My TDA/HSA Bank transfer to Fidelity happened in 2 days. Crazy fast. I moved everything to TDA first and transferred all in kind. The money market cash hasn't shown up yet, but somehow is showing up in the portfolio total. The only bad thing is I thought I waited long e...
by walkindude
Wed May 08, 2019 7:13 am
Forum: Personal Investments
Topic: Voya financial - Why would anyone use them?
Replies: 40
Views: 5258

Re: Voya financial - WHY WOULD ANYONE USE THEM?

As others have said, Voya is just the custodian. My wife works for a financial firm and their plan is through Voya. The only options they have are her company's own funds but with a 0% ER and the company paying all other admin costs as well so essentially free. It's all up to what the employer choo...
by walkindude
Tue May 07, 2019 6:33 am
Forum: Personal Investments
Topic: Voya financial - Why would anyone use them?
Replies: 40
Views: 5258

Re: Voya financial - WHY WOULD ANYONE USE THEM?

Yes, high fees, no ticker symbols - good old Voya! After a few years of that and showing my wife what Voya was doing vs Vanguard, I convinced her to put all her $ in the Fixed Plus II account she has, which pays a fixed 3%, nearly guaranteed. She's had it in that a few years now and I count it as a ...
by walkindude
Sat Mar 09, 2019 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Large Bonus
Replies: 28
Views: 2236

Re: Taxes on Large Bonus

Just to be clear. I will owe about $55K in taxes for 2018 in total. I will likely owe more than $1M in taxes in 2019, in total. If I withhold $55K+10% throughout the year, I will not face an underpayment penalty? I will then owe like $900K in April. And that's okay? I will check with a CPA, but wan...
by walkindude
Fri Mar 08, 2019 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Are my parents' finances a disaster waiting to happen? Seeking advice.
Replies: 105
Views: 11885

Re: Are my parents' finances a disaster waiting to happen? Seeking advice.

No 401k, 403b, Traditional or Roth IRA? Wow, with that pension and SS amount and no saving, they must have had a great life so far!
by walkindude
Sat Nov 24, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Electrical Engineering move to consultant?
Replies: 16
Views: 2283

Re: Electrical Engineering move to consultant?

I've been an EE consultant for 17 years. Much different area than your son - digital/PCB design and FPGA work. Your network is EVERYTHING in my view. 95% of my work has come through it. I like when people leave places because it widens my network. I'm not sure your son has a large enough network yet...
by walkindude
Fri Sep 28, 2018 6:43 am
Forum: Investing - Theory, News & General
Topic: Converting rollover to Roth versus harvesting capital gains
Replies: 12
Views: 913

Re: Converting rollover to Roth versus harvesting capital gains

So for example if I want to maximize the Roth conversion for 2022: $12,000 dividends (box 1a of the 1099-Div, box 1b is $9000) $16,000 annuity $22,600 Roth conversion (rollover IRA to Roth IRA) ----------- $50,600 total ($38,600 + $12,000 standard deduction) So correct that I could convert up to $2...
by walkindude
Fri Sep 28, 2018 6:40 am
Forum: Investing - Theory, News & General
Topic: Converting rollover to Roth versus harvesting capital gains
Replies: 12
Views: 913

Re: Converting rollover to Roth versus harvesting capital gains

heikejohn1 wrote:
Fri Sep 28, 2018 5:38 am
The standard deduction has changed under Trump. Isn't it 24,000.00 now?
Single is $12000, MFJ is $24000.
by walkindude
Wed Sep 19, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Can I really retire? Please check my math and poke holes.
Replies: 48
Views: 6230

Re: Can I really retire? Please check my math and poke holes.

What about big, lumpy expenses? Like new cars, roofs, furnaces, things like that? Does that come from the fun money too? Saving as much as you can in taxable/emergency fund between now and retirement may be helpful. You're pretty close now; I'd hate you to get creamed on taxes in retirement for lump...
by walkindude
Tue Sep 04, 2018 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: My Understanding of IRS Safe Harbor Rules ...
Replies: 28
Views: 2779

Re: My Understanding of IRS Safe Harbor Rules ...

I believe it's AGI over $150K that's the determinant, not taxable income. Regardless, you should be alright in your example.
by walkindude
Sat Aug 18, 2018 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Jonathan Clements on International Investing
Replies: 2
Views: 664

Re: Jonathan Clements on International Investing

Thanks for this - I was discussing this with my son yesterday when he wondered why one of his 401k accounts was underperforming, It was 50% international index fund and 50% US. I looked at it right away and gave many of the same answers Mr Clements had.

Obviously forwarded this link to him today!
by walkindude
Fri Aug 17, 2018 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Are Roth conversions a no-brainer for me?
Replies: 22
Views: 2507

Re: Are Roth conversions a no-brainer for me?

Anyway, I've used it to play around with the numbers, and now I get it! :oops: I see that as my RMD's increase, the percentage of my social security benefits that are subject to tax also increases. For example, a $12K RMD results in federal taxes of $1,356; while a $15K RMD results in fed taxes of ...
by walkindude
Thu Aug 16, 2018 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Are Roth conversions a no-brainer for me?
Replies: 22
Views: 2507

Re: Are Roth conversions a no-brainer for me?

My understanding is that in certain circumstances the feds tax 50% of SS benefits (BTW, my state doesn't tax SS income). The Feds tax up to 85% of your SS, based on a formula which takes into account your non-SS income sources (pension, dividends/cap gains, RMDs) and 50% of your SS. PROBABLY anothe...
by walkindude
Thu Aug 09, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: The Best HSA
Replies: 79
Views: 14241

Re: The Best HSA

I didn't know that HSA Bank had fees, but I googled it and sure enough there's a whole schedule on their website . What I do know is that I haven't paid any fees (except when I ordered a checkbook) at least since the beginning of 2017. Does anyone know if this is because my HDHP and HSA is through ...
by walkindude
Thu Aug 09, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: The Best HSA
Replies: 79
Views: 14241

Re: The Best HSA

I didn't know that HSA Bank had fees, but I googled it and sure enough there's a whole schedule on their website . What I do know is that I haven't paid any fees (except when I ordered a checkbook) at least since the beginning of 2017. Does anyone know if this is because my HDHP and HSA is through ...
by walkindude
Thu Aug 09, 2018 10:02 am
Forum: Personal Investments
Topic: Time for my annual sanity check
Replies: 8
Views: 1242

Re: Time for my annual sanity check

Curious how you have been able to roughly estimate my expenses based on the info in my OP? I am having a hard time doing that myself and I have all the data to do so! I just used my $100 k tax estimate below and your savings numbers and subtracted your mortgage prepayments (unknown to me, but known...
by walkindude
Wed Aug 08, 2018 5:54 pm
Forum: Personal Investments
Topic: Time for my annual sanity check
Replies: 8
Views: 1242

Re: Time for my annual sanity check

You look to be in pretty good shape, but we need your expected expenses in retirement, SS for both, and if your mortgage still exists in 2022 to weigh in fully. The fact that it looks like you are spending $350k - maybe $100k taxes - 55k retirement expenses - $x extra mortgage means that maybe you a...
by walkindude
Wed Aug 08, 2018 6:40 am
Forum: Personal Investments
Topic: managing funds after divorce settlement
Replies: 13
Views: 1798

Re: managing funds after divorce settlement

New Question Assuming I rollover entire QDRO into an IRA, then what do people think about the idea of similarly reducing my voluntary contributions to my work sponsored retirement accounts as a way to help defray cost of the mortgage? Not the end of the world if you do this, but you'll have enough ...
by walkindude
Tue Aug 07, 2018 3:51 pm
Forum: Personal Investments
Topic: managing funds after divorce settlement
Replies: 13
Views: 1798

Re: managing funds after divorce settlement

Sorry that life has hit you with this - you seem to be thinking clearly about things and doing your best to keep the kids good through it. Your expenses vs net income should rule the house decision. It's probably going to be tight with the $2800 payment and $20k per year school though. I'd sit down ...
by walkindude
Fri Aug 03, 2018 7:27 am
Forum: Personal Investments
Topic: Kiplinger tax letter opinions
Replies: 2
Views: 609

Re: Kiplinger tax letter opinions

I've subscribed off and on for several years. You can find the information in the letter other places on the internet, but it's sort of nice to see it all in one place. It may not save you tons of money in taxes, but it definitely keeps you abreast of upcoming changes in the tax law. Not so much hel...
by walkindude
Thu Jul 12, 2018 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3612

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

I struggle with the balancing of taking cap gains at 0% and conversions to Roth at 12% bracket. Thanks. Dude, Cap Gains go from 0% tax rate to 15% tax rate, so the savings is a 15% tax rate Roth conversions go from 12% tax rate to 22% tax rate, so the savings is 10% tax rate. Under that simple-mind...
by walkindude
Wed Jul 11, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3612

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

I think you have done a good job. Here is a generic template that I created based on the "withdrawal strategy" plan I created. It has not been fully updated based on the new tax law. 2018: Assumption – Husband’s pension, wife retired. Both will delay SS benefits Adjusted Gross Income = $21,000 pens...
by walkindude
Sun Apr 29, 2018 12:16 pm
Forum: Personal Investments
Topic: At a crossroads. Does my plan make sense?
Replies: 29
Views: 3333

Re: At a crossroads. Does my plan make sense?

If I annuitize my Account Balance Plan over the course of eight years, I would receive approx. $5000/mo. (taxable). $5000/month x 12 months/year x 8 years = $480,000, which is less than your current $490,000 balance. If this is true, I'd roll it to an IRA invested in all bonds and probably do much ...
by walkindude
Thu Apr 19, 2018 8:05 am
Forum: Personal Investments
Topic: Bonds vs. Fixed/Guaranteed Income
Replies: 21
Views: 3542

Re: Bonds vs. Fixed/Guaranteed Income

All this being said, do any of you have have a strong leaning toward any one of these funds above the others? PIMCO Foreign Bond Fund (US-Dollar Hedged, Institutional Class) PIMCO Total Return Fund (Institutional Shares) Vanguard Inflation Protected Securities Fund (Admiral Shares) Vanguard High-Yi...
by walkindude
Mon Apr 02, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: How does your retirement spending compare to pre-retirement spending?
Replies: 48
Views: 8634

Re: Retirees: How does your retirement spending compare to pre-retirement spending?

Also, since we travel 10 weeks a year vs 4 weeks, we probably spend about $4k more on vacations/travel. That is some budget conscious travel ($667/week for the extra 6 weeks). I wish I could get it anywhere that. I figure it costs us about $300/day on the road. Maybe a decent bit is family visits. ...
by walkindude
Wed Mar 28, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: How does your retirement spending compare to pre-retirement spending?
Replies: 48
Views: 8634

Re: Retirees: How does your retirement spending compare to pre-retirement spending?

Also, since we travel 10 weeks a year vs 4 weeks, we probably spend about $4k more on vacations/travel. That is some budget conscious travel ($667/week for the extra 6 weeks). I wish I could get it anywhere that. I figure it costs us about $300/day on the road. Maybe a decent bit is family visits.
by walkindude
Thu Mar 15, 2018 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Interesting interactive guide to early retirement & FI
Replies: 29
Views: 4813

Re: Interesting interactive guide to early retirement & FI

The biggest takeaway from that analysis was that the age that is reading this guide skews VERY young. 60% of people using it are 33 or younger. The biggest takeaways from people I've talked to in person that weren't familiar with the subject were what "withdrawal rate" and "compound interest" are. ...
by walkindude
Thu Feb 01, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: 1099-B Gain Reporting
Replies: 5
Views: 575

Re: 1099-B Gain Reporting

bezavala wrote:
Wed Jan 31, 2018 10:38 pm
Regarding the calculation, it says "Cost Basis Method: ACST".
Lesson learned.
Thank you.
ACST probably equals Average Cost method
by walkindude
Fri Jan 26, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: [UPDATED 1/26/2018 ] 55+ Early retirement offer.
Replies: 90
Views: 15299

Re: [UPDATED 1/26/2018 ] 55+ Early retirement offer.

Dottie57 wrote:
Fri Jan 26, 2018 3:56 pm
Yup, my last day is 3/2/2018. OH Happy day! (Think rock gospel)
Congratulations - life's a long song! Now you get to start another verse.
by walkindude
Fri Jan 26, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security: two reasons not to wait
Replies: 108
Views: 18173

Re: When to claim Social Security: two reasons not to wait

for us, if we pull 4% of portfolio along with my existing pension and add in just my SS we’d be over twice the average family income ( and ours would be year in year out, with no need for savings, already having paid off house and multiple vehicles) so we’d definitely be in IRMAA territory in addit...
by walkindude
Fri Jan 19, 2018 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 198
Views: 19151

Re: Stats on When People Take Social Security

It's simple really, when I look at my specific cash needs right now and my short-term income streams. It's all about matching. The income stream from SS will be very useful to me now, and in the future. It meets my needs. Better than the alternatives. But the incremental monthly payments from waiti...
by walkindude
Sun Dec 24, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 27388

Re: Do you see a meaningful change in your income with new Tax Bill?

Respectfully, I think you're overlooking the effect of the 15% to 12% rate change. However, perhaps all of your AGI is capital gains/qualified dividends and you don't get anything out of the rate reduction. Knowing your methods, that's possible. :) It might be worth a look. If your AGI is 75k and i...
by walkindude
Sun Dec 24, 2017 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 27388

Re: Do you see a meaningful change in your income with new Tax Bill?

My income won't change. I won't be working any more nor any less and neither will my spouse. And we have already been doing the following for years: 1. DAF 2. Bunching deductions 3. No mortgage interest What will change is that our youngest should not be a dependent anymore and we will get less tax...
by walkindude
Sat Dec 23, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 27388

Re: Do you see a meaningful change in your income with new Tax Bill?

I'm self-employed and my wife is retired with a $20k pension (with COLA). No SS yet. If I have a bad year (trying to in order to accomplish Roth conversions to the top of current 15% bracket), it looks like we'll get a $2100 reduction in Fed income tax, but an approximately $500 increase in MD incom...
by walkindude
Fri Dec 08, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Question about IRMAA and first couple years of retirement
Replies: 17
Views: 2621

Re: Question about IRMAA and first couple years of retirement

Anybody have an idea how/if this works if you're self-employed? Thanks. Very similar. You start with your AGI at the bottom of front page of form 1040 and then add any tax exempt interest to it to get your MAGI. Then see where you are on the IRMAA table... Thanks, I understand the MAGI part. My que...
by walkindude
Thu Dec 07, 2017 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Question about IRMAA and first couple years of retirement
Replies: 17
Views: 2621

Re: Question about IRMAA and first couple years of retirement

Anybody have an idea how/if this works if you're self-employed? Thanks.
by walkindude
Fri Nov 24, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Is it possible to negotiate a layoff?
Replies: 22
Views: 3166

Re: Is it possible to negotiate a layoff?

In 2001-3, during the dot com bust, my medium-sized company had layoffs for 9 quarters in a row. Brutal. About the 5th quarter in, I was asked to transfer to another group in the same campus. Since the chosen were still getting 2 weeks per year severance and I wanted to start a consulting business a...
by walkindude
Thu Nov 09, 2017 9:00 am
Forum: Personal Investments
Topic: College grad first job-401K or Roth
Replies: 55
Views: 4574

Re: College grad first job-401K or Roth

My daughter is a 4th year teacher and grosses about $55k. Standard deduction/exemption/health insurance/pension contribution come off so she ends up with about $41k in taxable income. What we've done the last couple of years is split her contributions between Roth and traditional to get her into the...
by walkindude
Tue Nov 07, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Poll-How much do you have in your HSA?
Replies: 50
Views: 6743

Re: Poll-How much do you have in your HSA?

Guess I'm a bit of a slacker. Started in 2006 and only have $47000.

Spent out of it for several years and only started investing it in IJR 2-3 years ago.

Bogleheads got me motivated to invest it although I knew I could before; just never got around to it.
by walkindude
Sat Sep 02, 2017 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Help me make sense of my 2017 federal tax calculation
Replies: 22
Views: 2995

Re: Help me make sense of my 2017 federal tax calculation

I am going to contact employer to see if i can submit corrected w4 now. Yes, change your W-4 and state W-4 if needed. On line 3 you can check "Married, but withhold at higher Single rate". On line 5 you can put zero allowances. On line 6 you can add an additional dollar amount to be withheld each p...