Search found 606 matches

by Mlm
Sat Dec 09, 2023 10:56 pm
Forum: Personal Investments
Topic: VG's automated RMD scheduler doesnt work now.
Replies: 6
Views: 1351

Re: VG's automated RMD scheduler doesnt work now.

retired@50 wrote: Sat Dec 09, 2023 10:46 pm
spoto43957 wrote: Sat Dec 09, 2023 12:37 pm I have a brokerage account Inherited IRA and have had the same problem TWICE in the last month.
I was under the impression that you couldn't automate RMDs for inherited IRAs.

Regards,
I have had an inherited IRA with automatic RMD's since 2017 on the brokerage platform. It has worked like clockwork every year
by Mlm
Sat Nov 04, 2023 9:13 pm
Forum: Personal Investments
Topic: Frustrated Trying to Edit RMD on Vanguard Website
Replies: 53
Views: 7274

Re: Frustrated Trying to Edit RMD on Vanguard Website

TRANSACT

RMD

(Under Quick Links on the right side)

View previous version
by Mlm
Sat Nov 04, 2023 9:02 pm
Forum: Personal Investments
Topic: Frustrated Trying to Edit RMD on Vanguard Website
Replies: 53
Views: 7274

Re: Frustrated Trying to Edit RMD on Vanguard Website

Scroll to the bottom of the page you were on. Near the bottom of Quick Links you can visit the previous version and you will see tax withholding where you can edit it if you want. It took me forever to find it. I hope it works for you too
by Mlm
Sat Jul 01, 2023 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Transition at Vanguard
Replies: 45
Views: 7165

Re: Transition at Vanguard

SpideyIndexer wrote: Sat Jul 01, 2023 7:15 pm Transition went ok, cost bases look good. But how do I get the to date information from the (now closed) mutual fund account? I need dividend and cap gains data for planning.

I saved cost basis data but didn't know I would need to save earnings to date and was not warned.
I transitioned without problems also. I can see all of my taxable gains under "holdings", then use the drop down box and ckick on "taxable gains"
You can view by quarter or YTD.
by Mlm
Tue Jan 03, 2023 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax Data Breach Settlement
Replies: 130
Views: 15048

Re: Equifax Data Breach Settlement

received a check today $19.30 :moneybag
by Mlm
Sat Nov 05, 2022 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: NY Essential Health Plan
Replies: 16
Views: 2094

Re: NY Essential Health Plan

I was on the New York State essential health plan for two years I thought it was an awesome deal one year cost me zero in the next year it cost me $20 per month. The coverage was really excellent it was definitely not a Medicaid plan it’s only income-based so your assets have nothing to do with it

One year I went over what I had estimated but they really didn’t care and never audited either year

The only downside was that I couldn’t do Roth conversions during that period or my income would’ve been too high
by Mlm
Thu Oct 13, 2022 4:20 pm
Forum: Investing - Theory, News & General
Topic: SS 2023 benefit increase will be 8.7%
Replies: 129
Views: 14936

Re: SS 2023 benefit increase will be 8.7%

marcopolo wrote: Thu Oct 13, 2022 3:52 pm

I don't think that's right.
Wage indexing stops at age 60.
COLA adjustments start at age 62.

Those two years in-between miss out on both. At least, that is my understanding of how it works.
That is also my understanding
by Mlm
Sun Jul 03, 2022 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security/indexation and AIME
Replies: 7
Views: 973

Re: Social Security/indexation and AIME

Have you tried https://ssa.tools/

Copy and Paste your earnings from your social security statement. You can make some assumptions about future earnings if you want.
by Mlm
Tue Mar 08, 2022 2:00 pm
Forum: Personal Consumer Issues
Topic: Skydiving, have you ever been?
Replies: 83
Views: 5304

Re: Skydiving, have you ever been?

I started jumping in my early 30's and completed 320 jumps before I quit. I held a class C license and did one water jump and one night jump. I have never done a base jump. I only had one malfunction (jump #30) and survived :D That's what reserve chutes are for.
by Mlm
Sun Jan 23, 2022 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: How many stimulus paments 2021?
Replies: 16
Views: 2048

Re: How many stimulus paments 2021?

EIP #1 and #2 were authorized in 2020
EIP#3 was authorized in March 2021

I was eligible for all 3 payments and I received one in 2021
by Mlm
Thu Dec 09, 2021 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Any Good Reason to Take on Debt at 54, FT employed?
Replies: 87
Views: 7097

Re: Any Good Reason to Take on Debt at 54, FT employed?

I can't think of a good reason to take on debt as you approach retirement. Maybe it's just me but I like to sleep well knowing that I am beholding to no one
by Mlm
Sun Dec 05, 2021 4:08 pm
Forum: Personal Investments
Topic: Timing of gains harvest to be used to pay taxes on Roth conversion
Replies: 5
Views: 633

Re: Timing of gains harvest to be used to pay taxes on Roth conversion

I would go ahead and get it done if you are sure that your 4th quarter dividends and capital gains will keep you in the 0% capital gains bracket at year end.
by Mlm
Sun Dec 05, 2021 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Monthly social security deposit to bank account
Replies: 15
Views: 2004

Re: Monthly social security deposit to bank account

Are you referring to bills for your Medicare premiums?
by Mlm
Sat Dec 04, 2021 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Stop spousal benefits I’m turning 70 next month
Replies: 8
Views: 1679

Re: Stop spousal benefits I’m turning 70 next month

You don't need a new account. Just go to ssa.gov and submit an application for yourself. https://www.ssa.gov/benefits/retirement ... roQAvD_BwE
by Mlm
Thu Dec 02, 2021 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: E-mail to boss - is this appropriate and acceptable?
Replies: 25
Views: 2659

Re: E-mail to boss - is this appropriate and acceptable?

Triple digit golfer wrote: Thu Dec 02, 2021 4:20 pm Some background: Been at my company six years, in a senior management but not executive position. No equity. Always a very high performer, excellent reviews, and almost zero negative feedback.

So, is this e-mail acceptable and appropriate to send to my boss, an officer of the company with whom I have a good relationship?

Edit : (Email deleted at OP's request)

As a former Controller there is no way I would send this email. Sit down and have a friendly face to face.
by Mlm
Sat Nov 27, 2021 11:19 am
Forum: Personal Investments
Topic: Estimate SS benefits
Replies: 4
Views: 788

Re: Estimate SS benefits

Do you have a copy of your earnings record from an old statement? If you do just record them in a spreadsheet and then copy and paste into ssa.tools
by Mlm
Tue Nov 23, 2021 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Plan for 70 y.o. worth approximately $6million.
Replies: 30
Views: 4589

Re: Gifting Plan for 70 y.o. worth approximately $6million.

I would not be giving away anything until I drew up a plan with an Estate Attorney and a CPA. The type of account the money sits in (after tax, tIRA, Roth IRA) can make a difference planning wise. Is there a LTC insurance? If not, how will this be funded. Put on your oxygen mask first before helping others.
by Mlm
Thu Nov 18, 2021 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - How to switch from Spousal Benefits to Own (Restricted Claim)
Replies: 18
Views: 1553

Re: Social Security - How to switch from Spousal Benefits to Own (File and Suspend)

I believe she would have to file a new application.
go to ssa.gov
(click) Menu
(Click) Online Services
(Click) Apply for Benefits
She would apply under her own Social Security number.

I would probably call SS and have them set up a telephone appointment with my local SS Office. Specify the month that she wants her own benefit to begin. They are very helpful.
by Mlm
Wed Nov 10, 2021 10:40 pm
Forum: Personal Investments
Topic: Has anyone had Vanguard change their "status" - without asking - in the past few years?
Replies: 40
Views: 5536

Re: Has anyone had Vanguard change their "status" - without asking - in the past few years?

I should’ve been upgraded a long time ago but it hasn’t happened. There is really no advantage at this point so I don’t care
by Mlm
Mon Nov 08, 2021 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion or let heirs pay tax?
Replies: 73
Views: 9725

Re: Roth conversion or let heirs pay tax?

delamer wrote: Mon Nov 08, 2021 12:59 pm

Do you mean if my great aunt dies without naming beneficiaries on her IRA and I end up as her heir, do I still benefit from the 10-year stretch? As opposed to having to close out the account all at once?

I don’t see why the stretch wouldn’t apply.
The stretch would not apply in this case. I believe that if your great aunt was already collecting RMD's then the beneficiaries of the estate would be required to take distributions over her remaining single life expectancy. Having the estate as the beneficiary is the worst possible plan.
by Mlm
Mon Nov 08, 2021 12:51 pm
Forum: Investing - Theory, News & General
Topic: New Wellington video for all you wellington fans
Replies: 16
Views: 2758

Re: New Wellington video for all you wellington fans

This guy drives me nuts. I have seen some of his videos but when he started spouting his political beliefs I stopped watching.
by Mlm
Sat Nov 06, 2021 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: How far off in the future until I could afford in my desired neighborhood?
Replies: 27
Views: 2886

Re: How far off in the future until I could afford in my desired neighborhood?

It would help to have a breakdown of you current expenses. Do you want to be debt free by the time you retire?
by Mlm
Fri Nov 05, 2021 3:42 pm
Forum: Personal Investments
Topic: Tax strategy for Inherited IRA
Replies: 10
Views: 1042

Re: Tax strategy for Inherited IRA

Afty wrote: Fri Nov 05, 2021 3:29 pm Put your bond allocation in the Inherited IRA to slow the growth, and keep taking RMDs.
+1
by Mlm
Wed Nov 03, 2021 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Suspension of Social Security after Disability
Replies: 10
Views: 1547

Re: Suspension of Social Security after Disability

extechie wrote: Wed Nov 03, 2021 1:04 pm Today I had my phone appointment with a claims specialist from the local office. She said there was a lot of confusion about this, but that I could absolutely suspend future payment. She also honored that I originally requested in October so my last payment will be in November. Finally, she advised me to go ahead and contact Medicare myself to make sure payment to Medicare continued without interruption. I will also contact my Part D provider.

So for those that are interested in pursuing this, don't give up until you get a yes!
:D Congrats
by Mlm
Wed Nov 03, 2021 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: [Question about Amazon Shop with Points]
Replies: 8
Views: 575

Re: Amazon tries to steal rewards points from credit cards

With each Amazon purchase I get to choose if I want to use credit card points or not. It's a nice option that I sometimes use but no one is forcing me to.
by Mlm
Fri Oct 15, 2021 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford this home?
Replies: 28
Views: 2866

Re: Can we afford this home?

You have a lot of debt and little savings. Now is not the time to take on more debt if you want to accumulate wealth. Slow down and figure out your long term goals.
by Mlm
Thu Sep 16, 2021 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

Baloney
by Mlm
Wed Sep 15, 2021 11:23 am
Forum: Investing - Theory, News & General
Topic: Locked and merged threads on proposed budget, Roth, etc.
Replies: 279
Views: 33750

Re: Any opinion on proposal to eliminate Mega Backdoor Strategy

So you are aware that proposal discussions are not allowed yet you posted anyway? What part don't you get. :annoyed
by Mlm
Tue Sep 14, 2021 8:39 pm
Forum: Personal Investments
Topic: Estimating Space for Roth Conversions
Replies: 35
Views: 4063

Re: Estimating Space for Roth Conversions

Vanguard publishes estimated year end distributions in early December. I find it useful especially for funds that have erratic capital gains. I still leave some leeway and top everything off at month end. Here are there December 2020 estimates. https://institutional.vanguard.com/VGAp ... fo12092020
by Mlm
Tue Sep 14, 2021 7:21 pm
Forum: Personal Investments
Topic: Annuity recommended for a friend by a financial advisor
Replies: 29
Views: 3307

Re: Annuity recommended for a friend by a financial advisor

Dottie57 wrote: Tue Sep 14, 2021 7:13 pm
retired@50 wrote: Tue Sep 14, 2021 6:19 pm
Slackergirl wrote: Tue Sep 14, 2021 6:06 pm ... My friend currently needs her investments to generate an additional $500 a month. This $500 would be on top of her SS for a total of about $1,600 a month.
Given the $280k invested in the S&P 500 fund, withdrawing $500 per month doesn't seem like it would pose a problem of any kind.

$6,000 per year ( 12 * $500 ) is about a 2.1% withdrawal rate.

Is your friend nervous about the stock market? Maybe she should consider a more conservative portfolio by adding some bonds. Maybe a Vanguard LifeStrategy fund of some kind?

Regards,
Agree with this.
I also agree with this plan
by Mlm
Tue Sep 14, 2021 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: I told him to Retire! - How to Convince A Friend It's Too Early To Retire
Replies: 75
Views: 9166

Re: How to Convince A Friend It's Too Early To Retire

You don't know insurance costs until you get the facts for his location in his state. When I went on ACA I thought it would cost me $10K and it ended up being $240 with income manipulation.

You also don't know the income taxes until you do some proforma returns. Again, with income manipulation it could be minimal.

It looks like you have more work to do before you can make any recommendations.
by Mlm
Tue Sep 14, 2021 4:05 pm
Forum: Personal Investments
Topic: Annuity recommended for a friend by a financial advisor
Replies: 29
Views: 3307

Re: Annuity recommended for a friend by a financial advisor

It would be helpful to know how much her expenses are. She can create a base income through a SPIA but it won't adjust for inflation. She needs to fully understand any contract first and it doesn't sound like the salesman gave her enough information to do that.
by Mlm
Sun Sep 05, 2021 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: I-bonds rate wrong in my account
Replies: 18
Views: 2687

Re: I-bonds rate wrong in my account

The rate is correct According to TD website bonds purchased in April update on October 1
by Mlm
Tue Aug 31, 2021 11:29 am
Forum: Personal Finance (Not Investing)
Topic: SSA [Social Security - spousal benefit earnings]
Replies: 16
Views: 2114

Re: SSA

jcjc wrote: Tue Aug 31, 2021 11:21 am My husband filed for spousal benefits recently while delaying his own benefit until age 70. He was born before 1954 so was eligible for the grandfathered provision on filing spousal without deemed filing his own benefit. Now when he logs into his SSA.gov page it shows his spousal benefit he is receiving but does not show what his benefit would be on his own earnings. I'm nervous that this was done correctly. Is this normal for that information to drop off? Before filing his spousal benefit he could see that information.
Yes it's normal. When you file for one benefit you can no longer see the other one although it's still active. Happened to me when I filed for survivor benefits.
by Mlm
Mon Aug 16, 2021 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for confirmation that simplification is OK.
Replies: 36
Views: 4414

Re: Looking for confirmation that simplification is OK.

celia wrote: Mon Aug 16, 2021 7:58 pm I'm looking at "simplification" in all areas of my life, now that we're retired. I think, if I die, will my executor/trustee be able to tie up loose ends easily? Will they even know where to look?

PS. After you've had the experience of cleaning up somebody else's estate, it will all make sense to you.
:sharebeer
Amen to this. Having been an executor once myself I realize the burden that I could be putting on others. In the name of the simplification I am disposing of things that may have been a good deal in the past. Sometimes “good enough” let you sleep better.
by Mlm
Thu Aug 12, 2021 2:02 pm
Forum: Personal Investments
Topic: $20M Family estate has a trustee who’s not in family?
Replies: 75
Views: 5001

Re: $20M Family estate has a trustee who’s not in family?

Gill wrote: Thu Aug 12, 2021 1:56 pm [
I'm still cooling down from the shock of reading this post. :x How in the world do you feel in a position to even question the estate plan and the designation of a trustee? It is not your estate plan nor that of any of the rest of the family. For a $20 million trust it would be a mistake not to designate a long established and highly qualified corporate trustee to administer the trust for its entire duration. It would be a huge mistake to have a family member act in this role.
Gill
:thumbsup :thumbsup :thumbsup
by Mlm
Tue Aug 10, 2021 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Do You Budget Pre/During Retirement?
Replies: 98
Views: 7897

Re: Do You Budget Pre/During Retirement?

I never used a budget but I always tracked my expenses and savings starting with my very first paycheck. In retirement I still track my spending because it allows me to spend where I otherwise might not have.
by Mlm
Mon Aug 09, 2021 9:01 pm
Forum: Personal Consumer Issues
Topic: Disposing of inherited linens and china?
Replies: 96
Views: 10878

Re: Disposing of inherited linens and china?

This thread made me turn my eyes to heaven and thank my mother for having the wisdom to get rid of this stuff while alive.
by Mlm
Mon Aug 09, 2021 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Grandfather's Family Home at a Discount - Great Opportunity or Foolish Idea?
Replies: 54
Views: 3963

Re: Buying Grandfather's Family Home at a Discount - Great Opportunity or Foolish Idea?

Have you priced out what a new roof and all the needed renovations will cost? Can you even find reliable contractors to do the work soon? If you do decide to go for it I would consider not even moving in and flip it as quickly as possible. If you don't have any experience in this I would take a pass. Just too many risks when you are happy where you are.
by Mlm
Fri Aug 06, 2021 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Which Accounts should I draw 350K from?
Replies: 7
Views: 1389

Re: Which Accounts should I draw 350K from?

sandramjet wrote: Fri Aug 06, 2021 11:00 pm

Definitely not the case; it's a sudden opportunity to purchase a house that I was not counting on doing at this time. But a death in the family accelerated the plans.
Reviewing your future plans for this purchase might give some insights for what you should currently do
by Mlm
Fri Aug 06, 2021 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Moving a family dilemma
Replies: 55
Views: 7532

Re: Moving a family dilemma

yikes
I had an anxiety attack just reading this
Good luck.
by Mlm
Thu Jul 29, 2021 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Medicare "excess charges"--should I worry?
Replies: 27
Views: 2664

Re: Medicare "excess charges"--should I worry?

tj wrote: Wed Jul 28, 2021 11:01 pm
Redsub wrote: Wed Jul 28, 2021 10:52 pm I live in Washington State and if I find a doctor who I really must see I can change back to Plan 'G' in mid-year.

That's odd. Washington lets you change your mind?
Yes, Washington State's Medicare plans are community rated as are Arkansas, Connecticut, Massachusetts, Maine, Minnesota, New York, Vermont.
by Mlm
Fri Jul 23, 2021 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Dad may need nursing home or alternate solution
Replies: 32
Views: 2983

Re: Dad may need nursing home or alternate solution

genjix wrote: Fri Jul 23, 2021 12:48 pm
stan1 wrote: Fri Jul 23, 2021 12:12 pm Spend down his assets until he qualifies for Medicaid.

Does he have a spouse? If so seek out an elder care attorney.
He has a spouse. Attorney said they look at past 5 years of income and asset so he won't qualify even if assets were spent
Not true. Find a qualified elder care attorney
by Mlm
Thu Jul 22, 2021 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Owner's title insurance for cash purchase - lawyer says mandatory
Replies: 75
Views: 7665

Re: Owner's title insurance for cash purchase - lawyer says mandatory

It was a long time ago but when I purchased my house for cash my attorney also said that I needed to purchase title insurance. I was surprised at how much it cost at the time. When I questioned him about why I needed the insurance he showed me local examples of native americans claiming land in the area. Since that time I have seen it happen. Don't cheap out and trust your attorney.