Search found 2191 matches

by Silk McCue
Mon May 20, 2019 4:14 pm
Forum: Personal Investments
Topic: Asset Allocation - Factoring in a Pension?
Replies: 3
Views: 377

Re: Asset Allocation - Factoring in a Pension?

QUSETIONS: 1. How should treat the pension in my asset allocation? 2. Should I adjust my retirement accounts to account for this portion of fixed income? 3. Where can I find the Treasury Interest Rate mentioned? Closest I could find was this: https://www.irs.gov/retirement-plans/mi ... ment-rates I...
by Silk McCue
Mon May 20, 2019 1:54 pm
Forum: Investing - Theory, News & General
Topic: How to setup Own Fund or Private Equity
Replies: 12
Views: 877

Re: How to setup Own Fund or Private Equity

Very likely that what you are proposing is illegal or at least massively ill advised. It is clear from this post alone that you lack the knowledge, experience or time to be successful in what you are proposing todo. You may very well cause great harm to those that for some reason would trust you to ...
by Silk McCue
Mon May 20, 2019 8:30 am
Forum: Personal Consumer Issues
Topic: Home auction
Replies: 7
Views: 380

Re: Home auction

Honestly. If you can afford a $5.6 Million dollar home you should not be asking us if it is a good deal or not. You should have the wherewithal to do that yourself.

Cheers
by Silk McCue
Mon May 20, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: completely freaked out about withdrawing from retirement accounts....
Replies: 53
Views: 5210

Re: completely freaked out about withdrawing from retirement accounts....

Fixed Return Fund - TRS TRS NYC › memberportal › Investments The Fixed Return Fund offers a guaranteed rate of return set by the New York State Legislature in accordance with applicable laws. The current annual rate is 7% for members who are serving in (or resigned/retired from) titles represented ...
by Silk McCue
Sun May 19, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: 5-Year Rule on TIRA->Roth Conversions
Replies: 14
Views: 873

Re: 5-Year Rule on TIRA->Roth Conversions

ResearchMed wrote:
Sun May 19, 2019 4:41 pm
...

No harm in that, right?

Thanks.

RM
No harm in that indeed.

Cheers
by Silk McCue
Sun May 19, 2019 12:28 pm
Forum: Personal Consumer Issues
Topic: Anyone have a GMC Acadia? Or similar?
Replies: 27
Views: 1557

Re: Anyone have a GMC Acadia? Or similar?

Definitely need to consider the Pilot.

Cheers
by Silk McCue
Sun May 19, 2019 12:26 pm
Forum: Personal Investments
Topic: Vanguard Tax Free Income
Replies: 2
Views: 942

Re: Vanguard Tax Free Income

Doing anything based on “talk of high future tax rates” is unwise. Focus on what you know. There should be plenty of time between now and age 70 to perform Roth Conversions. It’s all about current and future taxes when SS kick in. You just need to do the analysis. Also consider the impact of when on...
by Silk McCue
Sun May 19, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: 5-Year Rule on TIRA->Roth Conversions
Replies: 14
Views: 873

Re: 5-Year Rule on TIRA->Roth Conversions

This is the definitive table to answer your question which is asked often and like many answers can be found with the search box on this site Re: Roth IRA Rules - Table Approach Posted by: KAWill (IP Logged) Date: October 14, 2010 11:57PM Roth IRA Distribution Table UNDER AGE 59.5 FIVE YEAR CONVERSI...
by Silk McCue
Sun May 19, 2019 11:35 am
Forum: Personal Investments
Topic: What is the best roth conversion strategy?
Replies: 17
Views: 1983

Re: What is the best roth conversion strategy?

3) Hold tax deferred money in positions that are good for Roth, convert the position directly to Roth ... Tomorrow . If you don’t have positions that are good for Roth then convert and sell to buy into what you want. Given your financial situation from another recent thread - Just do it and move on ...
by Silk McCue
Sun May 19, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Another Inherited IRA question
Replies: 11
Views: 837

Re: Another Inherited IRA question

Sorry for your loss. You must keep it as an inherited IRA as you are a non-spouse and must take RMDs using the Single Life Table (unless you choose to draw down more than those required amounts up to the entire balance today). Take a look at this Wiki: Scroll down to “IRA inherited from someone othe...
by Silk McCue
Sat May 18, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Amending 2017 Taxes - Mortgage Interest
Replies: 3
Views: 323

Re: Amending 2017 Taxes - Mortgage Interest

Look at this page from H&R Block regarding how to amend a return that you created with them. The instructions are for 2018 but likely the same/similar for 2017. I don’t use their software but do know how to Google “h&r block amended return 2017”. https://www.hrblock.com/tax-center/support/software/s...
by Silk McCue
Sat May 18, 2019 2:07 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA early withdrawal tax+penalty question
Replies: 14
Views: 764

Re: Roth IRA early withdrawal tax+penalty question

Oh, I was not aware of that, well, too bad I closed my Roth Account at Schwab which I opened 3 years back jus to win some Brokerage bonus at ME.... Yes, I am aware of 5 yr rule of coversions and that 5 yrs starts on the day of your Roth IRA is opened - so - I guessed I learned that never close a Ro...
by Silk McCue
Sat May 18, 2019 1:55 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA early withdrawal tax+penalty question
Replies: 14
Views: 764

Re: Roth IRA early withdrawal tax+penalty question

Yes, I am aware of 5 yr rule of coversions and that 5 yrs starts on the day of your Roth IRA is opened - so - I guessed I learned that never close a Roth account when moving brokerages to brokerages to get brokerage bonuses ... You misunderstand the how the 5 year rule is applied to our Roth IRA. I...
by Silk McCue
Sat May 18, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 28
Views: 1925

Re: Long Term Care Insurance

Welcome There have been a number of posts on this in recent past that you can look up. Apparently there have been changes over time in the policies available and the rates that you can get so our experience is likely not going to be your experience. We have policies that we originated in our early ...
by Silk McCue
Fri May 17, 2019 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Guidelines, other than 5/24, for getting approved again?
Replies: 3
Views: 415

Re: Guidelines, other than 5/24, for getting approved again?

You seem to be obsessed with this. What has changed since you posted this?

viewtopic.php?f=2&t=279219&p=4503549#p4503549

Just lay off for a year or two. Find a new focus.

Cheers
by Silk McCue
Fri May 17, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Tithing
Replies: 14
Views: 1458

Re: Tithing

I never heard of this before. Crazy times lol Yes crazy times ... thousands of years of religious practice and history that you never heard of. For over 30 years we’ve been tithing, plus giving to missions, building programs, feeding programs, supporting children in other countries, traveling overs...
by Silk McCue
Fri May 17, 2019 4:55 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 39
Views: 3212

Re: Tricky Roth IRA Questions

Please find below the time tested and proven table for now Roth contributions and conversions are treated depending on your age, contributions, conversions, and earnings. This table is outstanding (and correct) for direct contributions and conversions. I'm not sure it works exactly right when an un...
by Silk McCue
Fri May 17, 2019 3:26 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 39
Views: 3212

Re: Tricky Roth IRA Questions

I'd like to ask a related question if that is OK. Since you were expecting a tricky Roth IRA question. The OP might also find the answer useful in their future planning. I'm over 59.5year old. I have a Roth IRA that I've been contributing to for 3 years. My understanding is I can take the contribut...
by Silk McCue
Fri May 17, 2019 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinancing medical school loans?
Replies: 19
Views: 1597

Re: Refinancing medical school loans?

Check out White Coat Investor (member here and respected author with excellent website). Your friend can learn alot here on multiple subjects.

https://www.whitecoatinvestor.com/stude ... financing/

Cheers
by Silk McCue
Thu May 16, 2019 7:37 pm
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 55
Views: 4329

Re: Does stock allocation truly matter?

Savings rate dominates. People talk about AA a lot, because it allows them to not think about how they could spend less and save more. They also have about AA a lot, because it allows them to think they are in the same league saving $20k/year at "100% stock" as somebody else putting away $80k/yr "c...
by Silk McCue
Thu May 16, 2019 7:32 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Expense Ratio listing
Replies: 4
Views: 517

Re: Vanguard Expense Ratio listing

From prior posts on Bogleheads it appears they are taken out daily. That makes sense as the price rises and falls daily. There is no place that you will see the dollar amount for your personal holdings. The ER is the best information you have to work with.

Cheers
by Silk McCue
Thu May 16, 2019 5:16 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 39
Views: 3212

Re: Tricky Roth IRA Questions

hirlaw wrote:
Thu May 16, 2019 5:08 pm
Sorry for my ignorance. But, what is "IRR"?
I believe that is short for In Plan Roth Rollover given the context.

Cheers
by Silk McCue
Thu May 16, 2019 12:12 pm
Forum: Investing - Theory, News & General
Topic: Pre-RMD Retirement Sweet Spot - Accelerating IRA Withdrawals vs. Roth Conversion
Replies: 44
Views: 2955

Re: Pre-RMD Retirement Sweet Spot - Accelerating IRA Withdrawals vs. Roth Conversion

Hi All, Vanguard just posted another "Joel/Maria" podcast today and there was an interesting discussion (by Maria) on considering accelerating IRA withdrawals vs. doing Roth conversions. Her comments seemed to suggest that when you are in the retirement sweet spot (favorable tax rate) years before ...
by Silk McCue
Thu May 16, 2019 10:26 am
Forum: Personal Investments
Topic: Whole life policy after 19yrs
Replies: 11
Views: 804

Re: Whole life policy after 19yrs

I don’t need it but at the same time I don’t want to keep on paying for it if it is not generating a fair return. According to a prior post you are married with two children and 38/39 years old. You may not need a whole life policy but Term insurance on you and your wife should be purchased to assi...
by Silk McCue
Thu May 16, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1442

Re: Error with Social Security Earnings History

You can get a Tax Account Transcript for the current tax year and up to 10 years prior online or using Form 4506-T. Not certain if it gives you everything you need but I would request them immediately. UPDATE - Look at the Wage and Income Transcript in addition to this. https://www.irs.gov/individua...
by Silk McCue
Thu May 16, 2019 9:57 am
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 39
Views: 3212

Re: Tricky Roth IRA Questions

1) Can you still contribute to a Roth IRA if you have "maxed-out" your 401k contributions (assuming you meet the Roth IRA income limitations)? 2) Does a Roth 401k rollover to a new Roth IRA start the clock ticking on the Roth IRA "5-Year Rule"? Thanks for your help! 1 - Yes. The income limit is the...
by Silk McCue
Thu May 16, 2019 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1212

Re: Social Security Income and Medicaid Eligibility - Planning Question

I am talking about right now. They are probably eligible for Medicaid as we speak (dual with Medicare). I know the rules and limit for long term Medicaid are calculated differently. It’s also incredibly complicated and varies greatly by state. I do know how regular Medicaid works and what documenta...
by Silk McCue
Thu May 16, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1212

Re: Social Security Income and Medicaid Eligibility - Planning Question

If Medicaid income is determined by a 1040 tax return (not sure, but a good guess), SS may or may not show up on income at all or very little of it might be there. I think you need a tax estimator or tax program to try out the numbers. That’s not how it works. You fill out forms stating your income...
by Silk McCue
Thu May 16, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1212

Re: Social Security Income and Medicaid Eligibility - Planning Question

They have a fundamental misunderstanding of how Medicare and Medicaid work including what Medicaid will take care of and when. They also do not understand how they can qualify for Medicaid if they need it even with $43,000 of joint SS Income (Google “Miller Trust”). The husband absolutely needs to ...
by Silk McCue
Wed May 15, 2019 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of Land Appraisal
Replies: 20
Views: 1248

Re: Cost of Land Appraisal

If this is raw land where other raw land is for sale/selling then $3750 is not reasonable. I would call the property appraisers office and see if someone there could give you some guidance. Talking nicely to the right person can yield good results. You can also talk to a couple of long time realtors...
by Silk McCue
Wed May 15, 2019 7:42 pm
Forum: Personal Investments
Topic: How am I doing so far???
Replies: 15
Views: 1303

Re: How am I doing so far???

finagle wrote:
Wed May 15, 2019 7:36 pm
If their combined nw is 77k, that's 39k per person.

How many years will that last? 2 years for the average person? Ok.
This is retirement savings not living expenses. What is your point?

Care to rethink your response for this first time poster?

Cheers
by Silk McCue
Wed May 15, 2019 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Bank called my business manager
Replies: 49
Views: 5286

Re: Bank called my business manager

I also agree that a hold of 30 days on a check sounds excessive. However, PU239 is the first post mentioning 30 days, so I'm not sure where the 30 days is coming from. The 5th post in this thread was authored by PU239 and they referenced a personal experience with a “month” hold. That morphed later...
by Silk McCue
Wed May 15, 2019 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Options for Depositing Check for Dissolved Entity
Replies: 4
Views: 472

Re: Options for Depositing Check for Dissolved Entity

Sit down with the someone senior at the bank that handles your LLC. Explain the situation including showing documents your relationship to the dissolved entity and ask them if you can “sign the check over” to the LLC.

Cheers
by Silk McCue
Wed May 15, 2019 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1212

Re: Social Security Income and Medicaid Eligibility - Planning Question

Silk McCue, they do have Medicare, but they believe Medicaid is better in the long run because it can cover the cost of nursing homes, assisted living facilities, and other long-term care alternatives (since the couple can't live with their relatives forever). They have a fundamental misunderstandi...
by Silk McCue
Wed May 15, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1212

Re: Social Security Income and Medicaid Eligibility - Planning Question

Are you saying the don’t have Medicare now? If not, why not. If so, then why do they care about Medicaid.

Please provide more information on why they have this concern/question.

Cheers
by Silk McCue
Wed May 15, 2019 4:18 pm
Forum: Investing - Theory, News & General
Topic: 10,000% inflation in USA?
Replies: 19
Views: 1493

Re: 10,000% inflation in USA?

flawlessmicro wrote:
Wed May 15, 2019 4:05 pm
Thoughts? And what are you currently doing to hedge against this type of extreme scenario happening?
Nothing. Even thinking about it is a waste of my time.

Cheers
by Silk McCue
Wed May 15, 2019 12:34 pm
Forum: Personal Investments
Topic: How am I doing so far???
Replies: 15
Views: 1303

Re: How am I doing so far???

Welcome to Bogleheads! Given that you have been paying off student debt your and have $77k invested at your ages I think that is good. The new job for your wife with the bump in income should allow you to make some serious progress in funding your planned future (retirement, children etc.). The best...
by Silk McCue
Wed May 15, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: mechanics of paying taxes on a Roth Conversion
Replies: 26
Views: 1841

Re: mechanics of paying taxes on a Roth Conversion

You can either pay estimated quarterly tax payment by Sep 16th 2019 (if the conversion is performed after May 31) to cover the tax due, OR if you have other income sources (Pension, Job etc) you can increase the tax withholding on the remainder of the year from those sources to satisfy the full tax ...
by Silk McCue
Wed May 15, 2019 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Can wife Top off her Social Security benefits?
Replies: 33
Views: 4096

Re: Can wife Top off her Social Security benefits?

It was a great idea to call SSA. I called my local SSA office. She seemed to understand exactly what I was asking and said that it is a common issue that they deal with all the time. She said that when wife files for spousal after her FRA, at that time, they take what she is making and top it off t...
by Silk McCue
Tue May 14, 2019 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Cashing (Redeeming)Savings Bonds?
Replies: 12
Views: 596

Re: Cashing (Redeeming)Savings Bonds?

jasminetea wrote:
Tue May 14, 2019 7:35 pm
Put it into the calculator and it says the final maturity date is 2022, with 4% interest. Should I wait till then?
For me, it would depend on the total value of the bonds. If it is a small amount (ours was) then it might be better to just cash them in.

Cheers
by Silk McCue
Tue May 14, 2019 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Cashing (Redeeming)Savings Bonds?
Replies: 12
Views: 596

Re: Cashing (Redeeming)Savings Bonds?

Use this site to get the value.

https://www.treasurydirect.gov/BC/SBCPrice

I cashed mine at my bank - BofA.

Cheers
by Silk McCue
Mon May 13, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Bank check cashing question help me understand this
Replies: 4
Views: 840

Re: Bank check cashing question help me understand this

It’s called “signing over a check” or a “third party check”. It is possible and used to be referenced more often.

https://firstquarterfinance.com/list-of ... ty-checks/

Cheers
by Silk McCue
Wed Apr 24, 2019 9:19 am
Forum: Personal Investments
Topic: State retirement plan charging too much monthly fees?
Replies: 5
Views: 431

Re: State retirement plan charging too much monthly fees?

$5 per month fee is not high by any stretch of the imagination and it certainly can't be called an AUM fee. It actually costs money to run these accounts and that amount seems more than fair. Given that your balances will not grow through contributions since you are leaving in May you should absolut...
by Silk McCue
Tue Apr 23, 2019 5:33 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 902
Views: 86832

Re: "S&P 500 Index closes at record high"

Certainly it's nice to see our investments at all time highs but a one day closing price is hardly evidence for or against any particular strategy! What? Really? Just in the mood to argue? Maybe the folks that bailed in January 2018 and haven’t got back in, or those that bailed in Sep, Oct, Nov, De...
by Silk McCue
Mon Apr 22, 2019 7:45 pm
Forum: Investing - Theory, News & General
Topic: Stocks will return about 4% annually over the next decade or so rather than the 10% average annual returns - John Bogle
Replies: 104
Views: 13629

Re: Stocks will return about 4% annually over the next decade or so rather than the 10% average annual returns - John Bo

pward wrote:
Mon Apr 22, 2019 7:31 pm
Just because he invented an index fund does not make him a market psychic.
Not a fan of disrespecting those that have actually done something of enduring value and worth. You picked a strange place to do so.

Cheers
by Silk McCue
Mon Apr 22, 2019 6:25 pm
Forum: Investing - Theory, News & General
Topic: Stocks will return about 4% annually over the next decade or so rather than the 10% average annual returns - John Bogle
Replies: 104
Views: 13629

Re: Stocks will return about 4% annually over the next decade or so rather than the 10% average annual returns - John Bo

I mean, I hate to say this, but Jack Bogle did not own a crystal ball, and neither does any other investment hero, analyst, or company. Nobody knows what the future holds, and since nobody every knows what the future holds one should invest in a diversified portfolio. There are other assets than ju...
by Silk McCue
Mon Apr 22, 2019 12:46 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 730
Views: 93155

Re: Post your Financial Milestone Announcements Here

GerryL wrote:
Mon Apr 22, 2019 12:43 pm

Yes. That's why I had to wait until after March!
Excellent! Glad to hear that.

Cheers
by Silk McCue
Mon Apr 22, 2019 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2387

Re: Social Security Benefits Strategy

Silk is right to some degree. Understanding the tax implications, particularly at RMD, May provide an incentive to take earlier as, even at a reduced rate, you might avoid taxation loss on the SS. To be clear, I absolutely was not talking about taking SS earlier to avoid greater taxation of SS bene...
by Silk McCue
Mon Apr 22, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2387

Re: Social Security Benefits Strategy

Silk - That's actually what I am doing, trying to complete my financial plan as I am planning to retire soon. One of the inputs is the cash flow from Social Security which is why I am trying to figure this out. I am 58 and my wife is 60 and I have a spreadsheet that allows me to analyze various sce...
by Silk McCue
Mon Apr 22, 2019 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2387

Re: Social Security Benefits Strategy

I think you are 57 and your wife is 54. There is no decision to be made now.

When you make the decision you will need to do so in conjunction with your full financial picture in mind.

Cheers