Search found 358 matches

by vtMaps
Thu Jun 07, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5022

Re: New SS claiming calculator

Artful Dodger wrote:
Thu Jun 07, 2018 4:44 pm
I have the Fidelity planner assuming we're both dying at the same time
The likelihood of us dying at the same time depends on which of us is driving :wink: --vtMaps
by vtMaps
Tue Jun 05, 2018 6:40 am
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5022

Re: New SS claiming calculator

ObliviousInvestor wrote:
Tue Jun 05, 2018 6:37 am
(I'm curious, does anybody know if other calculators do make assumptions about legislative changes?)
I-ORP assumes reduced benefits when the trust fund is depleted.

--vtMaps
by vtMaps
Tue Jun 05, 2018 6:36 am
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5022

Re: New SS claiming calculator

When I tried the alternative claiming strategy, I had my wife (with higher PIA) claiming (restricted) spousal benefits at 66 (FRA) and her own retirement benefits at 70. The calculator insisted I also put in a date for me to collect spousal benefits. That doesn't make sense... we can't both collect ...
by vtMaps
Fri Jun 01, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: How long does it take for SS to fix earnings record?
Replies: 14
Views: 1531

Re: How long does it take for SS to fix earnings record?

I think it's a matter of getting to talk to the right person. Like your wife, I too was missing an entire year of earnings on my SS record, and I had the W2 & Tax return. After initially going to my SS office and handing everything over, several months passed by and nothing happened. I had to go ba...
by vtMaps
Wed May 23, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: combining two Roths so when is 5 year bar?
Replies: 19
Views: 1496

Re: combining two Roths so when is 5 year bar?

Alan S. wrote:
Wed May 23, 2018 2:40 pm
5) A sole surviving spouse that inherits a Roth IRA and elects to assume ownership uses the clock of the deceased spouse unless surviving spouse already owns a Roth with a clock that started earlier.
What happens if there are multiple surviving spouses? :confused
--vtMaps
by vtMaps
Wed May 23, 2018 2:17 am
Forum: Personal Finance (Not Investing)
Topic: How long does it take for SS to fix earnings record?
Replies: 14
Views: 1531

Re: How long does it take for SS to fix earnings record?

Thanks for the data points. It appears that our 5 month wait is not out of the ordinary. I recall that the agent we met with last December said it might take a few months... she never mentioned that it might take a year.

--vtMaps
by vtMaps
Tue May 22, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: How long does it take for SS to fix earnings record?
Replies: 14
Views: 1531

Re: How long does it take for SS to fix earnings record?

Bump. Is it reasonable for this to take five months? How much longer should my wife wait before contacting SS again?

--vtMaps
by vtMaps
Sun May 20, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: How long does it take for SS to fix earnings record?
Replies: 14
Views: 1531

How long does it take for SS to fix earnings record?

My wife's SS earnings record shows $0 for the year 1989. She met with a SS agent in Dec 2017 and presented a copy of her 1989 tax return and the W2 that showed she had paid into SS. As of this past Friday (May 18) her online earnings record is still $0 for 1989. Anyone have experience with this? How...
by vtMaps
Thu May 17, 2018 2:05 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 491
Views: 28839

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

4 years from RMD and I wish I had piled up more money in taxable than maxing out 401K when I was in my 30s and 40s. Big miscalculation! I hear that a lot but is it true? It's certainly true if you retire early and buy health insurance on the exchange. If I had had more in taxable, it would have bee...
by vtMaps
Thu May 17, 2018 5:35 am
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 491
Views: 28839

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I haven't seen it mentioned yet, but for many folks the SS tax hump puts them in a higher marginal bracket than when they were working. For example: A MFJ couple with ordinary income of $75k is in the 12% marginal bracket. If that couple retires with the same income, but $40k is SS and $35k is other...
by vtMaps
Tue May 15, 2018 3:22 am
Forum: Personal Finance (Not Investing)
Topic: Bicycle insurance? when you're in the roadway like a car
Replies: 38
Views: 3238

Re: Bicycle insurance? when you're in the roadway like a car

My son was hit by a motorist while riding a bicycle. He was not at fault. My insurance agent said his medical expenses would be covered by our auto insurance. When we checked in to the ER, the hospital insisted that we provide our medical insurance, and I insisted that I was not going to because th...
by vtMaps
Thu Apr 26, 2018 3:23 am
Forum: Investing - Help with Personal Investments
Topic: Buying Treasury Bills: Treasury Direct or Vanguard / Fidelity
Replies: 55
Views: 7310

Re: Buying Treasury Bills: Treasury Direct or Vanguard / Fidelity

One other difference: The brokerages will send you a 1099 tax form. At treasury direct you need to remember to go online and download and print your 1099.

--vtMaps
by vtMaps
Tue Apr 24, 2018 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Small Roth, big RMD--advice?
Replies: 14
Views: 2053

Re: Small Roth, big RMD--advice?

Can you elaborate? I'm not sure how I'd do this. Once I start taking SS, it will be constant-- and the RMD will be whatever the government says it is. The only thing I can do is make sure I get the IRA to where I'd want it to be, for the RMD I think makes sense. That will require me withdrawing IRA...
by vtMaps
Mon Apr 23, 2018 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: Small Roth, big RMD--advice?
Replies: 14
Views: 2053

Re: Small Roth, big RMD--advice?

I'm getting close enough to retirement to be focused on figuring it out. My retirement savings has always been extremely focused on before tax savings to avoid current year taxable income. As a result, 93% of my retirement money is in tax advantaged accounts, and just 7% is in ROTH. We are in much ...
by vtMaps
Thu Apr 12, 2018 4:32 am
Forum: Investing - Theory, News & General
Topic: I bonds rates and returns
Replies: 7
Views: 1442

Re: I bonds rates and returns

whodidntante wrote:
Thu Apr 12, 2018 1:52 am
One thing to know is there is a mandatory holding period of one year, and they are serious about that.
If you buy a bond today (4/12/18) or later this month, you can redeem it on April Fool's Day in 2019. That is (seriously) less than a year.

--vtMaps
by vtMaps
Tue Apr 10, 2018 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Alternative website for those in lower tax brackets?
Replies: 59
Views: 5603

Re: Alternative website for those in lower tax brackets?

One of the most important things I have learned here is how to be in a lower tax bracket. Many folks could pay less tax if they were to follow the tips and tricks I have learned here. I like being in a lower bracket :beer

--vtMaps
by vtMaps
Tue Apr 03, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [spousal benefit]
Replies: 24
Views: 1251

Re: Social Security Question [spousal benefit]

If you were to pass before her (after 70 ) she would get your benefit at the time of your passing (survivor benefit) and lose whatever benefit she had at that time . I think the highlighted part above is true only if her benefit at the time of his passing is less than 50% of what her survivor benef...
by vtMaps
Tue Apr 03, 2018 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [spousal benefit]
Replies: 24
Views: 1251

Re: Social Security Question [spousal benefit]

I just want to make sure that by taking the spousal benefit at age 64, prior to full retirement age, I won't reduce my own benefit at age 70. Is that the case? The rules have changed... you cannot take a benefit restricted to only your spouse's earning record while she is alive. If she dies before ...
by vtMaps
Sat Mar 24, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Can I really target to pay 0% Federal Taxes for 12 yrs of Retirement
Replies: 46
Views: 6228

Re: Can I really target to pay 0% Federal Taxes for 12 yrs of Retirement

Thanks for the link to i-ORP. I have been running a number of different scenarios which are very insightful. Looks like there is more safety margins in my plans than I had expected! One thing that looks strange is that it recommending TIRA to Roth Conversions and then immediate withdrawl from the R...
by vtMaps
Mon Mar 19, 2018 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Anyway to get traditional IRA funds minimizing tax other then not working?
Replies: 63
Views: 5364

Re: Anyway to get traditional IRA funds minimizing tax other then not working?

Codemaster, I'm coming into this thread late, but do your parents receive social security benefits? If so, there may be an advantage to alternating years of high and low withdrawals from the IRA. This is because of the social security tax hump. I wrote about it here: https://www.bogleheads.org/forum...
by vtMaps
Mon Mar 12, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?
Replies: 8
Views: 602

Re: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?

According to https://www.healthinsurance.org/faqs/if-my-income-is-less-than-expected-this-year-i-might-be-eligible-for-medicaid-what-can-i-do-during-open-enrollment-to-cover-my-bases/ If you receive an advance premium tax credit and then your income actually ends up being under 100 percent of pover...
by vtMaps
Mon Mar 12, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?
Replies: 8
Views: 602

Can a 2017 IRA contribution in 2018 cause the loss of ACA premium tax credits?

DW just turned 65, so 2017 was our last full year of ACA health insurance. DW’s earned income was low enough to receive cost sharing reductions. Actually, our income was near the top of the 10% bracket. Of course, there is no 10% bracket when one is receiving premium tax credits… the cost of health ...
by vtMaps
Thu Mar 01, 2018 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Conversions, the ACA, and Dividend/Interest Income
Replies: 9
Views: 749

Re: IRA Conversions, the ACA, and Dividend/Interest Income

So I guess there really isn't a 12% bracket for anyone with subsidized ACA... :confused That's correct. DW just went on medicare (in 2018), but was on ACA for all of 2017. We will take $13k out of our IRAs this month (12% tax bracket). A day later we will make $13k contributions to the same IRAs, b...
by vtMaps
Tue Feb 27, 2018 7:57 pm
Forum: Personal Consumer Issues
Topic: Mobile Deposit Bank Fraud
Replies: 36
Views: 2782

Re: Mobile Deposit Bank Fraud

The author of the blog wrote:
"I am out a considerable amount of money because I was not following my accounts closely".
He didn't mention a timeline, but I suspect that he didn't notice the fraud until long after the statement date.

--vtMaps
by vtMaps
Sun Feb 25, 2018 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block software problem
Replies: 16
Views: 1459

Re: H&R Block software problem

Why would you want to import your 2016 AGI into your 2017 tax return?

--vtMaps
by vtMaps
Thu Feb 22, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: [Is this fund transaction taxable?]
Replies: 5
Views: 373

Re: [Is this fund transaction taxable?]

If these are in a taxable brokerage account, then selling the stock fund creates a tax liability. If the funds are in an IRA or other tax advantaged account then it is not an issue.

If the gains you report are long term gains, they may be tax free, depending on your tax bracket.

--vtMaps
by vtMaps
Thu Feb 22, 2018 12:18 pm
Forum: Investing - Theory, News & General
Topic: Is 0.46% more after-tax yield enough to justify muni risk?
Replies: 9
Views: 1133

Re: Is 0.46% more after-tax yield enough to justify muni risk?

ribonucleic wrote:
Thu Feb 22, 2018 11:03 am
potential loss of tax exemption
A loss of the tax exemption would require a constitutional amendment. The reason state bonds are tax exempt is that the constitution forbids the federal government to tax the obligations of the states. (and vice versa)

--vtMaps
by vtMaps
Wed Feb 21, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Additional tax exempt interest lowers our income tax!
Replies: 1
Views: 441

Additional tax exempt interest lowers our income tax!

I got our federal taxes almost done, but then remembered we had $265 of tax-exempt interest (I forgot about it because we did not receive a 1099). When I added in the $265 income, I was surprised to see our income tax went down! Here's why: DW is self-employed and buys her health insurance on the ex...
by vtMaps
Wed Feb 14, 2018 1:58 pm
Forum: Investing - Theory, News & General
Topic: I-Bonds?
Replies: 80
Views: 14767

Re: I-Bonds?

Does it make sense to delay filing my tax return in order to find out what the fixed rate will be in May (for paper I bonds)? I have a question about this... if I file paper tax returns in mid April, I expect that my refund would not be processed for several weeks... well into the month of May. Wou...
by vtMaps
Mon Feb 05, 2018 12:06 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 942

Re: Does MM 7 day yield include expenses?

And your purchase date, 1/19/18, was a Friday . Based on my observations about how Vanguard bond funds operate (I will guess that Fidelity operates the same way), that means you also won't get credited for any interest on Saturday and Sunday. So that means you should have received 10 days of ~1.4% ...
by vtMaps
Sun Feb 04, 2018 5:34 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 942

Re: Does MM 7 day yield include expenses?

Your calculation is not what I would do because you did not take into account daily compounding. I didn't know it compounds daily... I thought it doesn't compound until it posts... thus I assumed monthly compounding. Anyway, your calculation also doesn't match the interest that was posted to the ac...
by vtMaps
Sun Feb 04, 2018 3:21 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 942

Re: Does MM 7 day yield include expenses?

You would not get interest for the day of deposit. The day after that, the money will have been in the fund for one day, etc. OK, if I assume 11 days of interest (rather than 12), the interest rate then becomes 1.27%. Also, short term rates have been rising. The quoted yield is for the last 7 days....
by vtMaps
Sun Feb 04, 2018 12:30 pm
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 942

Re: Does MM 7 day yield include expenses?

Yes, it includes expenses. Please show your calculations. :) OK, my statement shows $21,000 of FZDXX purchased on 1/19/18 and $8.04 of interest posted on 1/31/18. Over the twelve days that I had the fund in January the interest was $0.67 per day. $0.67 per day is $244.55 per year. $244.55 ÷ $21,000...
by vtMaps
Sun Feb 04, 2018 11:45 am
Forum: Investing - Theory, News & General
Topic: Does MM 7 day yield include expenses?
Replies: 8
Views: 942

Does MM 7 day yield include expenses?

In anticipation of taking a distribution from an IRA, I sold some mutual funds and put them into fidelity money market FZDXX which (according to morningstar) has a 7 day yield of 1.4% and an ER of 0.3%. The interest accrues daily and posts at the end of the month. I purchased the MM on 1/19/18. Base...
by vtMaps
Fri Jan 26, 2018 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 456

Re: Need help with IPS - decumulating stable value and bonds

I would sell bonds not because "bonds are down" -which they are not- but because 3% in a stable value fund is a little more return than you can expect from bonds you hold now and the deal can't be replaced. That is how I feel.... but how do I incorporate that into my IPS? Should I start selling sta...
by vtMaps
Fri Jan 26, 2018 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 456

Re: Need help with IPS - decumulating stable value and bonds

You want to move a bond investment in an IRA to a Roth IRA where it can remain invested in bonds. I am a little lost on what the problem is. Maybe if you can be more specific as to the dilemma we could help. Moving the bond fund from an IRA to a Roth IRA is not a problem. But we are also spending d...
by vtMaps
Fri Jan 26, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 456

Re: Need help with IPS - decumulating stable value and bonds

Here is a document about receiving income from TIAA-CREF. Thanks, but I think that document is meant for TIAA Traditional in group retirement accounts. Our TIAA Traditional is in an IRA and is 100% liquid. We can sell it and we can buy it, but what we can buy now will not have the favorable terms o...
by vtMaps
Fri Jan 26, 2018 5:32 am
Forum: Investing - Help with Personal Investments
Topic: Need help with IPS - decumulating stable value and bonds
Replies: 8
Views: 456

Need help with IPS - decumulating stable value and bonds

We are 66 and 65 and virtually all of our retirement assets are in Fidelity and TIAA IRAs. We are spending down (and Roth converting) these assets for a few years before RMDs and SS. Our IPS asset allocation is "age in fixed income". Our portfolio is: 27% total stock mutual fund 8% TIAA real estate ...
by vtMaps
Tue Jan 23, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversions or Knot(in stomach)
Replies: 7
Views: 838

Re: Roth Conversions or Knot(in stomach)

Will have to buy health insurance for her for 3yrs till medicare. Assuming (unlikely,IMO) that the current health insurance situation persists until DW is ready (in about 15 years?)... If she is buying her insurance on the exchange, you will want to keep your income as low as possible for those 3 y...
by vtMaps
Tue Jan 23, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversions or Knot(in stomach)
Replies: 7
Views: 838

Re: Roth Conversions or Knot(in stomach)

The moral of this story for someone who is 18 years away from RMDs is that the "correct" strategy is going to be very sensitive to your assumptions about what your income from SS and what your RMDs will look like, even without any tax law changes. House Blend, your logic is quite correct now, but t...
by vtMaps
Mon Jan 15, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Check writing on a Roth account?
Replies: 1
Views: 221

Check writing on a Roth account?

I called Fidelity to see if I could add check writing and/or Billpay to my Roth IRA. The answer is no. It seems bizarre to me that they offer check writing on their traditional IRAs, but not on Roth IRAs. Especially so because there is no withholding tax on a Roth, and there may be withholding issue...
by vtMaps
Thu Jan 04, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm vs Geico
Replies: 68
Views: 6216

Re: State Farm vs Geico

I've had State Farm for 25 years and I'm not switching now to save $50 bucks and then have Geico and separately Liberty Mutual (overlaid by Geico). +1 Every couple of years I comparison shop... I compared my SF home/auto/umbrella with other companies. Each time the result was the same... I might be...
by vtMaps
Tue Jan 02, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm vs Geico
Replies: 68
Views: 6216

Re: State Farm vs Geico

If you have auto and umbrella from Geico, but homeowner's insurance from another company, does the umbrella cover homeowner liability above the limits of the homeowner policy (up to the umbrella limit)?

--vtMaps
by vtMaps
Sat Dec 30, 2017 8:49 am
Forum: Investing - Help with Personal Investments
Topic: Wisdom of 2017 Roth conversion
Replies: 8
Views: 527

Re: Wisdom of 2017 Roth conversion

How much can you convert if you go to the top of the 15% bracket? Isn't it already too late for a 2017 conversion?

--vtMaps
by vtMaps
Fri Dec 22, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin in Freefall
Replies: 168
Views: 20444

Re: Bitcoin in Freefall

nisiprius wrote:
Fri Dec 22, 2017 1:17 pm
"Gravitates" higher... interesting kind of "gravity..."
It sort of makes sense, since the price of bitcoin had been plummeting upwards until today :confused

--vtMaps
by vtMaps
Tue Dec 19, 2017 9:30 am
Forum: Investing - Help with Personal Investments
Topic: Trying to model my portfolio--but I think I "broke" i-ORP and RPM!
Replies: 8
Views: 1009

Re: Trying to model my portfolio--but I think I "broke" i-ORP and RPM!

Thanks. Great advice for the starting point. I will for sure be in the (current) 25% bracket at age 70. Where I get into the weeds, for example, is then trying to model whether it's worthwhile to maybe even pay for some ROTH conversions now into the (current) 25% bracket--because of the value of th...
by vtMaps
Sun Dec 17, 2017 6:24 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 132
Views: 13428

Re: H&R Block Software

I am planning to take advantage of one of the low-income free tax software options. Hope I don't regret the decision. I use H&R Block Deluxe to print all my federal and state forms for submission by certified mail. I will never use one of those "low-income free tax software options" if I have to e-...
by vtMaps
Sat Dec 16, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: H+R Block Tax Software- discount. Which version?
Replies: 5
Views: 777

Re: H+R Block Tax Software- discount. Which version?

I didn't see it on their website but I guess I missed it. Thanks! Here's the page for Basic: https://www.hrblock.com/tax-software/basic-tax-software/ There is a link on the right: "Requirements & Supported forms >" If you click the link it pops up a subwindow with a button to download a .pdf list o...
by vtMaps
Fri Dec 15, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: H+R Block Tax Software- discount. Which version?
Replies: 5
Views: 777

Re: H+R Block Tax Software- discount. Which version?

The basic software does virtually everything the premium version does. HR Block website has info on which versions of their software support which IRS forms. If you already know which forms you need, just look and see if Basic supports them.

--vtMaps
by vtMaps
Sat Nov 25, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 132
Views: 13428

Re: H&R Block Software

Does deluxe handle everything? We file schedule C with home office, depreciation etc. I am fine without the handholding as long as the forms are supported 100%. Does it import taxact? No way I am paying taxact $64 this year. We also do schedule C, home office, etc with Deluxe (not much hand-holding...