Search found 745 matches

by Good Listener
Wed Aug 26, 2020 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping assets separate in marriage
Replies: 40
Views: 3143

Re: Keeping assets separate in marriage

I can tell you that the prenup will never hold up if it was signed two days before the marriage and if there were no attorneys involved. Tell your friend to go see a lawyer right away and learn her rights in the "unlikely" circumstance that this marriage fails.
by Good Listener
Mon Aug 24, 2020 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Continue On Employer’s Health Plan (HSA) After Age 70, or Medicare?
Replies: 26
Views: 1851

Re: Continue On Employer’s Health Plan (HSA) After Age 70, or Medicare?

I may be biased, but I love traditional Medicare and a supplement and a drug plan part D. You then basically has nothing out-of-pocket except for some minor payments on the drug plan unless you are taking tier 4 drugs. Then you don't have to worry about anything because any doctor or hospital or any...
by Good Listener
Sun Aug 23, 2020 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Strategy with Loss of Stretch IRA
Replies: 21
Views: 1610

Re: Roth Conversion Strategy with Loss of Stretch IRA

I personally think that using current tax rates or even the expiration of them to the old tax rates is not necessarily a good idea. I believe tax rates are going to going to go up massiveky for everybody in the future. I would convert everything you can now. I am doing that even in the 35% bracket. ...
by Good Listener
Tue Aug 18, 2020 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: How do utilize tax lost harvesting (TLH) losses
Replies: 17
Views: 1136

Re: How do utilize tax lost harvesting (TLH) losses

If you give to charity regularly, you can give appreciated shares instead of cash. Neither you or the charity will get hit by a capital gains tax. Now take the extra cash and rebuy the shares at a higher basis. With the higher basis, you will be more likely to have opportunities to TLH to the lower...
by Good Listener
Sun Aug 16, 2020 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: How do utilize tax lost harvesting (TLH) losses
Replies: 17
Views: 1136

Re: How do utilize tax lost harvesting (TLH) losses

Thank you. You will not believe this but New Jersey is one of the only states in the country to not allow deductions for charitable deductions. It is an absolutely horrible state tax_wise and seems to be getting worse. If I didn't have to be here for various reasons, I wouldn't. We are bleeding pe.
by Good Listener
Sun Aug 16, 2020 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: How do utilize tax lost harvesting (TLH) losses
Replies: 17
Views: 1136

Re: How do utilize tax lost harvesting (TLH) losses

it seems to me but maybe I am wrong that just taking games to offset the losses doesn't really accomplish anything. So how would I ever utilize these tax losses and since I would be going into my second favorite fund like an s&p 500 index fund, why would I do it, unless there is something I am not ...
by Good Listener
Sun Aug 16, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: How do utilize tax lost harvesting (TLH) losses
Replies: 17
Views: 1136

Re: How do utilize tax lost harvesting (TLH) losses

But I ( probably like many investors) never sell at a gain... Your plan is to never sell? I plan to spend mine some day on living expenses in retirement at which point, I sure hope I have capital gains to recognize. If you do not think you will ever need the money and intend to leave it to heirs or...
by Good Listener
Sat Aug 15, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: How do utilize tax lost harvesting (TLH) losses
Replies: 17
Views: 1136

How do utilize tax lost harvesting (TLH) losses

Right now I do not have any lots at a loss but I am anticipating the possibility of a large decline in the stock market at some time. I failed to take the opportunity a few months ago. My taxable account is in the Vanguard total stock market index and a New Jersey municipal bond fund. Both of these ...
by Good Listener
Tue Aug 04, 2020 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: College tuitions and how to help our daughter pay them
Replies: 85
Views: 4856

Re: College tuitions and how to help our daughter pay them

Hi, Our daughter got admitted to college next year and we are trying to figure out how to pay the tuitions. She wants to become a vet, so it's close to 8 years (when she is in vet school after 4 years, she could be paid). She got a $5500 FASFA loan and a scholarship ($1000) which leaves her having ...
by Good Listener
Thu Jul 16, 2020 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Give new doctor a SSN?
Replies: 86
Views: 7197

Re: Give new doctor a SSN?

The doctor's office is simply wrong. Medicare used to use the SS # but changed it a few years ago. That was to avoid sharing SS numbers unnecessarily.
by Good Listener
Tue Jul 14, 2020 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Public school educators and staff: File Application for retirement just for beneficiary benefits.
Replies: 5
Views: 514

Re: Public school educators and staff: File Application for retirement just for beneficiary benefits.

I guess everybody has their own moral compass and several people choose to go that way. It is hard to believe that states allow this. If a y teacher would say they're going to retire in three months than a replacement should be sought and it should be binding. .
by Good Listener
Sun Jun 21, 2020 11:57 am
Forum: Personal Investments
Topic: A serious question from a senior about investing.
Replies: 42
Views: 3275

Re: A serious question from a senior about investing.

You folks are absolutely wonderful. The few times I have posted questions your responses have been very helpful. I think I am underestimating the fact that even though things might be horrible for a while, that in the very long term there should presumably be a return towards normalcy. Some wise eco...
by Good Listener
Sat Jun 20, 2020 7:48 pm
Forum: Personal Investments
Topic: A serious question from a senior about investing.
Replies: 42
Views: 3275

A serious question from a senior about investing.

I am a High net worth investor exclusively in Vanguard. I am 67 years old and have had a 60/40 portfolio forever. I have not panicked through any downturn and have done just fine. I have enough for life and my only considerations are Legacy and charity. I want to emphasize that I am relatively fearl...
by Good Listener
Sun Jun 14, 2020 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup? What Should It Say?
Replies: 232
Views: 11655

Re: Prenup? What Should It Say?

You both need a competent lawyer. If I am your father, I am telling you be careful because they're going to go after everything if there's a problem especially cuz you allowing her not to work. If I'm her father I'm telling her you better get protection my daughter because you're not working and thi...
by Good Listener
Sun Jun 14, 2020 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup? What Should It Say?
Replies: 232
Views: 11655

Re: Prenup? What Should It Say?

Duplicate
by Good Listener
Sat Jun 13, 2020 7:27 pm
Forum: Personal Consumer Issues
Topic: Calling all Electricians/ Microwave Engineers
Replies: 30
Views: 2266

Re: Calling all Electricians/ Microwave Engineers

Cruise wrote: Sat Jun 13, 2020 7:10 pm Thanks, @mkc and @Teague. Your explanation and advice are appreciated.

Next step: Call electrician on Monday.
I am very happy you are doing that. Otherwise God knows you could kill yourself. Please provide followup after resolution.
by Good Listener
Fri Feb 28, 2020 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion planning in a bear market
Replies: 63
Views: 4379

Re: Roth conversion planning in a bear market

I've been doing it monthly for about 4 years into an 8-year conversion process. I finally have the drop I was hoping for as it had kept going up. I will continue to do it monthly.
by Good Listener
Tue Feb 25, 2020 4:59 pm
Forum: Personal Consumer Issues
Topic: Postponed travel due to Corona Virus. Am I am overreacting ?
Replies: 232
Views: 24324

Re: Postponed travel due to Corona Virus. Am I am overreacting ?

Retired internist/nephrologist here. I would not dismiss the potential health risk, which is not really known now, nor worse the risk of quarantine even if you are healthy. I see no point in traveling abroad now. What is one proving by doing so?
by Good Listener
Sun Feb 23, 2020 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Post Divorce Business Sale Sharing, Reality Check
Replies: 33
Views: 4061

Re: Post Divorce Business Sale Sharing, Reality Check

What if you're sold it for a hundred thousand or couldn't get anything for it? Would ES return anything to you in your estimation?
by Good Listener
Sun Feb 23, 2020 4:04 pm
Forum: Personal Consumer Issues
Topic: Coronavirus (Consumer Issues) How you are preparing?
Replies: 1661
Views: 139101

Re: Coronavirus (Consumer Issues) How you are preparing?

This may be somewhat off point. But how can you practically be quarantined to your apartment?
by Good Listener
Sat Feb 22, 2020 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Another TurboTax question. Foreign tax credit
Replies: 2
Views: 369

Another TurboTax question. Foreign tax credit

Another issue has come up this year which I don't recall from the past. The amount of the foreign tax credit involved is less than the $300 for a single person so form 1116 is not required. It comes exclusively from dividends from foreign stocks in a Schwab brokerage account, not a mutual fund. The ...
by Good Listener
Fri Feb 21, 2020 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Disaster with backdoor Roth and turbotax for 2019
Replies: 10
Views: 1004

Re: Disaster with backdoor Roth and turbotax for 2019

You put in the 1099-R from Vanguard already? Usually what triggers the software from calling the $6000 IRA distribution from the 1099-R from "taxable" to untaxed is the box for "IRA/SEP/SIMPLE" needs to be checked. If you check and uncheck that box, you can see on the desktop version your refund ch...
by Good Listener
Fri Feb 21, 2020 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Disaster with backdoor Roth and turbotax for 2019
Replies: 10
Views: 1004

Re: Disaster with backdoor Roth and turbotax for 2019

There are 2 steps to this. One is the distribution in the Income section, the other is the contribution in the Deductions section. Make sure you go through both parts of the interview. See also this article: https://thefinancebuff.com/how-to-report-backdoor-roth-in-turbotax.html We've used TurboTax...
by Good Listener
Fri Feb 21, 2020 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Disaster with backdoor Roth and turbotax for 2019
Replies: 10
Views: 1004

Disaster with backdoor Roth and turbotax for 2019

I am with my daughter who has done backdoor roths and filed with turbotax for several years with no problem. It is the online, not desktop, version. For 2019, she did the usual. Starting with a traditional IRA balance of zero for 2019 (everything had been converted to Roths beforehand) , she did a n...
by Good Listener
Tue Feb 11, 2020 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Need to show a birth certificate to get social security benefits?
Replies: 6
Views: 880

Re: Need to show a birth certificate to get social security benefits?

... one may have an online social security account (and have set up Medicare through that)..., If you are already established and eligible for Medicare your age has already been established for SSA purposes. Additionally depending on the year and circumstances when an individual applied for a socia...
by Good Listener
Tue Feb 11, 2020 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Need to show a birth certificate to get social security benefits?
Replies: 6
Views: 880

Need to show a birth certificate to get social security benefits?

I will avoid all background and simply go to the question. Although one may have an online social security account (and have set up Medicare through that), does one physically have to either go to the social security office and present a birth certificate or provide it by mail in order to actually b...
by Good Listener
Wed Feb 05, 2020 11:28 am
Forum: Personal Investments
Topic: Expensive Roth Conversion Mistake
Replies: 19
Views: 1716

Re: Expensive Roth Conversion Mistake

Don't beat yourself up. It's a small amount of money in the long run and who really knows. If rates go way up in the future like I expect this may be cheap for you. Smile.
by Good Listener
Sat Dec 28, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: IRA to ROTH: Going from 12% to 24% tax bracket
Replies: 44
Views: 3512

Re: IRA to ROTH: Going from 12% to 24% tax bracket

Btw, I dont like IRMAA, but avoiding it is not a life or death matter. The absolute max for 2020 is $568 a month for Part B premiums plus the 2 IRMAAs. But that over 500k total income.
by Good Listener
Fri Dec 27, 2019 4:45 pm
Forum: Investing - Theory, News & General
Topic: The problem with the question "Is now a good time to buy stock?"
Replies: 46
Views: 3247

Re: The problem with the question "Is now a good time to buy stock?"

I think now is a terrible time to buy stocks or bonds. They are so expensive. And cash yields very little. But tomorrow it could be even worse. A real dilemma. I never market time and now have enough dividends from 2019 to make my usual lump sum purchase in January. For the first time ever, I'm not ...
by Good Listener
Fri Dec 27, 2019 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act: practical result of RMD age change seems trivial
Replies: 7
Views: 919

Re: Secure Act: practical result of RMD age change seems trivial

HueyLD wrote: Fri Dec 27, 2019 4:09 pm
Good Listener wrote: Fri Dec 27, 2019 1:34 pm I have a November birthday so I will turned 70 in May of the following year.
????
Well, that would be a first. Turn 70.5 in May of the following year... :oops:
by Good Listener
Fri Dec 27, 2019 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act: practical result of RMD age change seems trivial
Replies: 7
Views: 919

Re: Secure Act: practical result of RMD age change seems trivial

HueyLD wrote: Fri Dec 27, 2019 4:09 pm
Good Listener wrote: Fri Dec 27, 2019 1:34 pm I have a November birthday so I will turned 70 in May of the following year.
????
Well, that would be a first. Turn 70.5 in May of the following year... :oops:
by Good Listener
Fri Dec 27, 2019 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: IRA to ROTH: Going from 12% to 24% tax bracket
Replies: 44
Views: 3512

Re: IRA to ROTH: Going from 12% to 24% tax bracket

I would do it to the top of 35% in fact, I am. Rates are going up at some point in the future as our deficits are enormous and a lot of peopleare talking about spending a lot of money.
by Good Listener
Fri Dec 27, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Fine details about the 10 year rule for regular beneficiaries with the Secure Act
Replies: 3
Views: 454

Fine details about the 10 year rule for regular beneficiaries with the Secure Act

I am getting in the weeds here but what better group to do it with. A lot of relatively younger people will be inheriting IRAs and Roths and now withough RMDs will likely delay 10 years to extract them, especially with Roths. 1. What does 10 years mean? Many IRS regs are by calendar year not exact d...
by Good Listener
Fri Dec 27, 2019 1:59 pm
Forum: Investing - Theory, News & General
Topic: I don't have faith in small and value premiums
Replies: 409
Views: 15022

Re: I don't have faith in small and value premiums

I frankly read about it, found it interesting, and felt that it wasn't worth bothering with. I figured if it was a real thing of major consequence that the smart money would come in and it would disappear. I have never looked back or considered it. I am perfectly happy with the total Market indices.
by Good Listener
Fri Dec 27, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act: practical result of RMD age change seems trivial
Replies: 7
Views: 919

Secure Act: practical result of RMD age change seems trivial

I have a November birthday so I will turn 70.5 (edited thanks to Huey) in May of the following year. Given that the change now is to age 72 to begin RMDs, it seems like I only will gain 1 year. It seems that if your birthday is in the second half of the year then you gain 2 years. Do I have that rig...
by Good Listener
Sun Dec 22, 2019 5:12 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Estimated Year-End Distributions
Replies: 71
Views: 8675

Re: Vanguard Estimated Year-End Distributions

Gee. The companies must be doing well as in the total market index funds for US and International, the dividends are up between 20 & 25 %. Its a pain for taxes, but I guess it's a good pain. Or can somebody provide a reason other than the companies doing well? For US large cap stocks, there is an o...
by Good Listener
Sat Dec 21, 2019 3:54 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Estimated Year-End Distributions
Replies: 71
Views: 8675

Re: Vanguard Estimated Year-End Distributions

Gee. The companies must be doing well as in the total market index funds for US and International, the dividends are up between 20 & 25 %. Its a pain for taxes, but I guess it's a good pain. Or can somebody provide a reason other than the companies doing well?
by Good Listener
Sat Dec 21, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: SECURE Act - QCDs age.
Replies: 12
Views: 1139

QCDs in new retirement law

[Thread merged into here, see below. --admin LadyGeek]

Under current law, QCDs count towards the RMD and you must wait until after you turn 70.5 to take the first one to count as the RMD. How does the new law effect these provisions?
by Good Listener
Wed Dec 11, 2019 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: RMD in 1st year it is required
Replies: 22
Views: 2288

Re: RMD in 1st year it is required

No. The IRS bases its rules on the year, not the month. As far as they are concerned, the RMD is due in the YEAR that you turn 70.5, not the MONTH you turn. The only way to not have an RMD is to have zero money in the IRA as of Dec 31 the year before. If you don't want to do the RMD, convert the mo...
by Good Listener
Wed Dec 11, 2019 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: RMD in 1st year it is required
Replies: 22
Views: 2288

Re: RMD in 1st year it is required

I obviously did not ask the question clearly. If I have a balance at the beginning of the year& no balance by the time I am 70.5 (regardless of how I get it to zero) is that acceptable?
by Good Listener
Wed Dec 11, 2019 11:43 am
Forum: Personal Finance (Not Investing)
Topic: RMD in 1st year it is required
Replies: 22
Views: 2288

RMD in 1st year it is required

I know the first RMD is required the year one turns 70.5. (please ignore the exception that it can be delayed until April 15 of the next year.) Specifically, if I turn 70.5 in year X, can I avoid the RMD by a Roth conversion between Jan 1 of year X and the date I turn 70.5 or is it required regardle...
by Good Listener
Thu Nov 21, 2019 3:36 pm
Forum: Investing - Theory, News & General
Topic: What income is used for long-term capital gains rates?
Replies: 1
Views: 455

What income is used for long-term capital gains rates?

I feel stupid asking this but I want to make certain. I know that the ACA tax of 3.8% is dependent on income and not taxable income...Is your taxable income used to determine your tax bracket for long-term rates or is it your total income? Thank you.
by Good Listener
Sun Nov 03, 2019 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: No out of network coverage
Replies: 61
Views: 4158

Re: No out of network coverage

The same issue caused me to opt for Medicare + Supplement (Plan G) + Part D rather than an otherwise cost-effective local Advantage plan. A key area hospital (#1 in the USA for this specialty, which I have used before) does not participate in the available Advantage plans, but does accept tradition...
by Good Listener
Wed Oct 30, 2019 11:31 am
Forum: Personal Consumer Issues
Topic: Unnecessary blood tests
Replies: 51
Views: 3467

Re: Unnecessary blood tests

As a former practicing internist and sub specialist, if a patient requested that for an annual physical that I should not obtain a CBC and metabolic profile, I would suggest that if there is no emergency at that visit, that he/she get another doctor and this visit is at no charge. The patient is tel...
by Good Listener
Wed Oct 09, 2019 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Tax Question related to large Roth Conversion
Replies: 13
Views: 1431

Re: Tax Question related to large Roth Conversion

I am pretty close to retirement today. I am also being pinched between my current income and IRMAA, taxation of our social security benefits (delaying to 70), RMDs, and the expiration of the Trump tax cuts. I have a 5 year window and about $1M to convert. After 5 years everything gets less favorabl...
by Good Listener
Wed Oct 09, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Premiums when collecting Social Security benefits
Replies: 7
Views: 1225

Medicare Premiums when collecting Social Security benefits

People here have helped me greatly in understanding the medicare premium, EZ pay, etc. I know that when you begin collecting Social Security, your Medicare premiums will be deducted from the benefit payment. I am confused about a few things because I know that the social security benefit payment is ...
by Good Listener
Sat Sep 28, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Staying the course is so hard (support thread)
Replies: 141
Views: 16455

Re: I feel guilty spending my money!

No cable TV on that amount of income to save money? This is very troublesome.
by Good Listener
Thu Sep 26, 2019 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 21574

Re: financially clueless senior MIL who thinks she’s rich

This is a tough situation. If I were you, would start with her doctor. Meaning, she will have to sign a consent form to allow the doc to speak with you and your spouse regarding her health. If she agrees to this without any hassles you can then explore with the doc just what is her mental state and...