Search found 46 matches

by RetiredMule
Sun Jun 17, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security advice needed
Replies: 28
Views: 2228

Re: Social Security advice needed

I'm grappling with determining when to take Social Security and would appreciate some fresh eyes to take a look... Here are my particulars: My age: 62 in August Social Security at 62= $1,011 Social Security at 66= $1,371 Social Security at 70 (didn't include because I don't want to wait until then)...
by RetiredMule
Sun Jun 03, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Can a physician work in tech while practicing as well?
Replies: 57
Views: 4250

Re: Can a physician work in tech while practicing as well?

Maybe get a masters in engineering EE while working and focus on machine learning and big data for the hospital system. OP, I've a BS in EE and MS in CSE (Comp Sci and Engineering) and worked for one of the big names in tech until I "retired" almost 4 years ago. I also had a couple of med grads, wh...
by RetiredMule
Sun May 20, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes
Replies: 27
Views: 3759

Re: Life Changes

Bogleheads, Wanted to run my situation by the group. I am looking to buy a timbered property one hour away from my current home/work. My plan is to morph out of my current role at work (healthcare) and start picking up work in a few other hospitals closer to my proposed land. I have already been hi...
by RetiredMule
Sun May 20, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 152
Views: 13393

Re: Helping Adult Children (but not too much)

Two additional points to make: 1) In many cases where both the parents are involved: both parents need to realize the significance of such cases...in many cases, one of the parents maybe too lenient/soft and that's a problem in arriving at the right stance towards a "problem adult child". 2) The ea...
by RetiredMule
Sun May 20, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 152
Views: 13393

Re: Helping Adult Children (but not too much)

That is our conundrum. We have young adult children who span the spectrum of financial responsibility. We have the means to provide support, but what is support and what is enabling bad financial behavior? One child is extremely responsible, financially secure and already independently well off. Th...
by RetiredMule
Thu Apr 26, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Aftertax 401K rollover to Roth IRA
Replies: 10
Views: 1336

Re: Aftertax 401K rollover to Roth IRA

Why would you have to pay taxes on the rollover to a Roth IRA of the aftertax portion of $6500 (incl. the $1900 earnings) in your 401K, *if* this after-tax contribution and its earnings are separately shown, I'd assume, as a Roth 401K?

Or, is it not designated/shown as a Roth 401K?
by RetiredMule
Fri Apr 06, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Figuring taxes on Roth conversion with multiple IRAs
Replies: 5
Views: 655

Re: Figuring taxes on Roth conversion with multiple IRAs

Is there no way you could generate even a small amount of self-employment income? Spirit Rider, Thank you for the suggestion and my apologies for replying late. I get on to BH only occasionally... I used to be an employee of a mega corp, and, unfortunately, I don't have any self-employment experien...
by RetiredMule
Mon Apr 02, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: I messed up my backdoor Roth, help.
Replies: 8
Views: 1743

Re: I messed up my backdoor Roth, help.

@Duckie, @Millenial: I knew exactly what you're saying about "big fat IRA" and "negating" the effects of backdoor. Please read my 2nd para in my original reply - I clearly state the big disadvantage of being taxed on the 5500 new "IRA" due to the large rolled-over (300K?) IRA that the OP says he cre...
by RetiredMule
Sun Apr 01, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: I messed up my backdoor Roth, help.
Replies: 8
Views: 1743

Re: I messed up my backdoor Roth, help.

I believe you can open a separate IRA account with Vanguard (or any other outfit) and contribute 5500 into that as the new contribution, since one can have multiple IRA accounts; and then, you can do a backdoor on this new IRA account into a separate Roth IRA. By the mess-up, I guess what you mean i...
by RetiredMule
Wed Mar 28, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: When to Take Social Security (again...)
Replies: 62
Views: 6319

Re: When to Take Social Security (again...)

I've a couple of points that make me think one should take SS at 62, in addition to those mentioned by the OP and others. 1) No one's sure about how long one will live, even when one's healthy. in those cases for people with chronic diseases, I'd lean towards taking SS early. 2) Taxable (or other) s...
by RetiredMule
Sun Mar 25, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Figuring taxes on Roth conversion with multiple IRAs
Replies: 5
Views: 655

Re: Figuring taxes on Roth conversion with multiple IRAs

@nolesrule: Thanks very much for clarifying what I feared ; maybe 401K to IRA rollover was not a very smart move from the tax-perspective, as well as "protection angle" etc., but, had given me the flexibility with investment choices and Roth conversions. @Spirit Rider: Thank you for pointing out the...
by RetiredMule
Sat Mar 24, 2018 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Figuring taxes on Roth conversion with multiple IRAs
Replies: 5
Views: 655

Figuring taxes on Roth conversion with multiple IRAs

Dear BHs, I'm trying to figure out the correct way to calculate taxes for a bit unusual scenario described below. I have a couple of questions based on the scenario. Scenario: Two IRAs, one from a 401K rollover (RO) and the other one of a "hybrid" origin (has some after tax traditional IRA contribut...
by RetiredMule
Sat Jan 27, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: My boneheaded financial mistakes
Replies: 132
Views: 21229

Re: My boneheaded financial mistakes

Applicable to anyone who might get distracted especially in the last trading days of the year/any year: Ever since I started investing in early 1991, I used to religiously do tax-loss harvesting at the end of the year (typically between X-mas and New Year's eve) so as to minimize my tax burden durin...
by RetiredMule
Thu Jan 18, 2018 2:30 am
Forum: Personal Finance (Not Investing)
Topic: 1,000th post and a 'No-Fail' Retirement Formula
Replies: 54
Views: 6461

Re: 1,000th post and a 'No-Fail' Retirement Formula

TravelForFun,

Congrats on your hitting these milestones - two-in-one 8-)

From your original post, for X as well as the values for X in the examples provided: is the inflation for expenses (X) is assumed to be compensated (or even more) by the growth in the total portfolio, P?
by RetiredMule
Sun Jan 14, 2018 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Letter from Social Security re Fraudulent Claim
Replies: 55
Views: 6425

Re: Letter from Social Security re Fraudulent Claim

@SmallLawSurvivor: thanks very much for opening this topic, learned a bit from the discussions. @theta: glad you shared your active case that brought to light the seriousness of such a letter. Thanks for the details too! @livesoft: I enjoy your to-the-point/concise responses; addition of some humor/...
by RetiredMule
Sun Jan 14, 2018 2:11 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Retirement Checklist.
Replies: 16
Views: 3256

Re: 2018 Retirement Checklist.

Thanks to everyone for your replies! It is greatly appreciated. ... Will in place, no trusts- why would we need a trust? ... A lot of changes in our future- not sure where we will live-we are i n New York, our children live in Chicago & Boston - we love to travel & we hope to enjoy more travel duri...
by RetiredMule
Sat Jan 13, 2018 2:01 am
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 13354

Re: Is it time for me to "call in rich"?

bhsince87, Congrats on your diligence in getting to your financial goals (and then some!) :sharebeer IMO, Life is too short (even if you live to be 100+), enjoy life after 30+ years of hard work! I'm definitely of the opinion that you're financially well set to do what you want to do now - all your ...
by RetiredMule
Sun Dec 03, 2017 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Proof of income for ONLY Roth IRA Conversions (ACA 2017)
Replies: 14
Views: 2937

Re: Proof of income for ONLY Roth IRA Conversions (ACA 2017)

+1 on petesamprs's comment/question on using 1099-R.

In fact, the 1099-R should be the one used as it's the basis for income taxes one pays on retirement/IRA distribution, as a source of income ...

RetiredMule
by RetiredMule
Fri Oct 27, 2017 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Wait to Buy a Home?
Replies: 16
Views: 3095

Re: Should I Wait to Buy a Home?

PP, you're right. We're near NYC. We are seriously considering a townhome. We would put half down. Then, the PITI fits in fine w/our budget (can still save for retirement, college). Not worried about cash flow, so much as it being a bad "investment." I used to view housing mostly as a consumption, ...
by RetiredMule
Mon Oct 23, 2017 12:11 am
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 2279

Re: On selling home to a child

Many thanks for the responses! I did already consider the issue of mixing finances with close relatives, and I do know from my own past experience too that it's not a great thing to do (to be avoided if possible) - Yes, there is a sibling involved that would definitely complicate the situation, and ...
by RetiredMule
Sun Oct 22, 2017 12:03 am
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 2279

Re: On selling home to a child

Thanks for all your responses so far! As I mentioned in my original post, the sale is being planned for fair market value, at reasonable/prevailing interest rates on the loan. So, no gift in the picture. Fair point about charging a realtor's commission was raised in one of the responses. Fully agree...
by RetiredMule
Sat Oct 21, 2017 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 2279

On selling home to a child

Dear BHs, If there is any previous thread on this very topic, kindly alert me to that - I didn't find it on a quick search. This topic is for discussion on the idea of parents selling their paid off house to a child in the state of California: assume there are no concerns about whatever happens fina...
by RetiredMule
Tue Sep 12, 2017 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Equifax customer information leak
Replies: 711
Views: 65035

Re: Equifax customer information leak

Yesterday, I received a Tax Return Transcript in the mail from the IRS for Dec 2016. Neither I, my wife, nor our accountant requested it. -Bill I would setup an "identity protection pin" with the IRS. I just tried to see what it takes to get the "Identity Protection (IP) PIN" from IRS...ironically,...
by RetiredMule
Sun Sep 10, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Can't freeze credit at Experian?
Replies: 75
Views: 46093

Re: Can't freeze credit at Experian?

Same thing happened to me. I immediately tried again and got the same error message, no verification questions. Tried one last time, maybe 30 min had passed simce 1st attempt, and it gave me a new set of verification questions and finally processed the request to freeze. Ditto happened to me - 3 tr...
by RetiredMule
Fri Sep 08, 2017 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating new job offer
Replies: 40
Views: 3938

Re: Evaluating new job offer

I accepted the offer :sharebeer Congrats! I echo the sentiments made by deanmoriarty and a few others who know the tech area; the danger of becoming obsolete in one's profession is very real in tech industry unless one keeps constantly updating skills and stays relevant to employers. Most of the fo...
by RetiredMule
Fri Aug 25, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11545

Re: Living Expenses - what's "reasonable"?

"Reasonable" is personal. Here is my idiosyncratic example. I don't particularly like eating out and I eat healthfully. Earlier in August I spent two weeks in Barcelona where I was buying blackberries and raspberries for €1.50 per pint. I was staying at a hostel which had a large refrigerator and s...
by RetiredMule
Fri Aug 25, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11545

Re: Living Expenses - what's "reasonable"?

My response to the OP is that how much you spend in retirement depends a lot on what you spent (and how you spent it) before retirement. It also depends on your spouse if you have one, and his/her spending habits. It also depends on whether or not you're the kind of person who pays for your grandch...
by RetiredMule
Fri Aug 25, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11545

Re: Living Expenses - what's "reasonable"?

I think it may be more reasonable to break down the essential category, since their is so much variation. But even then, there can be overlap on items, for example, food. Some don't eat out a lot, others quite a bit. Perhaps following would help people trying to better plan?: Qualify if LCOL, MCOL,...
by RetiredMule
Thu Aug 24, 2017 12:56 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11545

Re: Living Expenses - what's "reasonable"?

If you like travelling look into "credit card churning".. I've accumulated millions of airline miles for nearly free over the past ten years. Wow! Millions of miles mostly free? You MUST be a real guru at this! 8-) I'm a miles junkie too, though most of my miles have been from actual travel (person...
by RetiredMule
Thu Aug 24, 2017 12:48 am
Forum: Personal Finance (Not Investing)
Topic: I did it and feel great about it (paid off mortgage)
Replies: 66
Views: 11482

Re: I did it and feel great about it (paid off mortgage)

Congrats, Steven in NC!

It's a great feeling when you're debt free, and mortgage is the biggest one of all debts for most people - enjoy that "debt-free" feeling hopefully for the rest of your life!
by RetiredMule
Thu Aug 24, 2017 12:31 am
Forum: Personal Finance (Not Investing)
Topic: Looking for a house around San Jose, CA
Replies: 36
Views: 4639

Re: Looking for a house around San Jose, CA

On Bay Area housing in general, San Jose in particular: A good friend of mine, a real estate agent, is a long time resident (35+ years) of the SF Bay Area, and she tells me that the boom-bust cycles in SF Bay Area happen once every 7-10 years; we're now almost 5 years into the boom cycle that starte...
by RetiredMule
Wed Aug 23, 2017 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring Work Locations - Cost of Living Decrease?
Replies: 17
Views: 2270

Re: Transferring Work Locations - Cost of Living Decrease?

BeneIRA, I used to work for a megacorp that in fact had a cost-of-living adjustment pay defined as a 7.5% bump when employees were transferred(or voluntarily moved) from their usual MCOL sites to HCOL sites - but, limited to certain pay grade and below only. My question to you: Have you considered t...
by RetiredMule
Wed Aug 23, 2017 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11545

Living Expenses - what's "reasonable"?

Dear BHs, I've been looking at a variety of posts on retirement related topics where people ask if they're saving enough/saved enough to retire now/expected yearly expenses in retirement etc. It is always interesting to go through the specifics people post, and I have always wondered about the wide ...
by RetiredMule
Tue Aug 22, 2017 12:26 am
Forum: Investing - Help with Personal Investments
Topic: 33 years old, how am I doing ?
Replies: 54
Views: 9671

Re: 33 years old, how am I doing ?

Jaferd, You do not show how much your housing expenses are (prop tax, ins etc.) and if those are in addition to the 4K/mo household expenses you state. Your house is paid off (almost), and you have pretty good after tax savings etc., so, when you scale down to 1/2 time you say you'd have an annual i...
by RetiredMule
Fri Aug 18, 2017 3:53 pm
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 182
Views: 15827

Re: Is it worth it? [demanding jobs vs time with family]

4) Esp. in hi-tech sectors: the extra hours of efforts are needed to create/develop and bug/productize ideas very fast, as competition (other companies) is not standing still! Such professionals are usually the crème of their companies' employees too. Bottom-line: for most creative type professiona...
by RetiredMule
Fri Aug 18, 2017 12:46 pm
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 182
Views: 15827

Re: Is it worth it? [demanding jobs vs time with family]

OP, 1) Is working 60 to 70 hours per week good for your career and professional advancement? IMHO, the answer is no. You spent too much time working as opposed to learning and growing. It makes more sense to work 40 hours per week and use the other 20 hours to study. 2) Is it financing rewarding fo...
by RetiredMule
Fri Aug 18, 2017 11:24 am
Forum: Personal Consumer Issues
Topic: Is it worth it? [demanding jobs vs time with family]
Replies: 182
Views: 15827

Re: Is it worth it? [demanding jobs vs time with family]

OP (vk8216)'s post: I read the post as asking for others' experiences and choices they made w.r.t raising kids while working fulltime (or even more); I don't think she asked for necessarily "condescending advice" on what they (OP and husband) should be doing. It is painful to see others judging a ha...
by RetiredMule
Mon Aug 14, 2017 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to buy a car is not excessive?
Replies: 48
Views: 4424

Re: What % of income to buy a car is not excessive?

I am pretty sure this topic has been beaten to death but..... What are some of you guys' thoughts on % of income that you can spend on a car? Let's assume based on post-tax take home income. Before getting to the $ figure, I'd consider the following as my key criteria in selecting a car/vehicle: 1)...
by RetiredMule
Mon Aug 14, 2017 1:35 am
Forum: Personal Finance (Not Investing)
Topic: Expect to spend $2.6M on healthcare?
Replies: 66
Views: 8153

Re: Expect to spend $2.6M on healthcare?

Thanks to Sheepdog for putting out some real #s, though they're very specific to the couple and are from the past years. Others have commented on the extrapolation to this $2.6M number, so, no additional comments from me on that specific number. In general though, I think the financial investment ou...
by RetiredMule
Mon Aug 14, 2017 12:58 am
Forum: Personal Finance (Not Investing)
Topic: Rent Out or Sell My Condo...
Replies: 21
Views: 2671

Re: Rent Out or Sell My Condo...

A few more factors need to be figured into arriving at a decision, IMO. Things like rentability (strong rental demand?), your tax brackets/AGI, your longer term outlook on income potential, your possible return to live in this condo in future etc. I'd assume there are many experienced landlords here...
by RetiredMule
Sun Aug 13, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 8483

Re: How does personal wealth affect job hunting?

Once you have the wealth/FI, a couple more things to consider: one's hobbies/pastimes. In my case: 1) I really LOVE to travel, and wanted to travel to a lot of different places/countries before my health/fitness goes down - a HUGE factor in deciding to retire, esp. since one can't be sure about heal...
by RetiredMule
Sun Aug 13, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 8483

Re: How does personal wealth affect job hunting?

Hi KlangFool, I've read many of your posts and appreciated your commonsense and wise responses to a lot of other posters' questions. I retired early (at 57) 3 years ago, primarily due to C and D, in that order - though I was making really great money as a senior engineer ("Platform Architect") in a...
by RetiredMule
Sat Aug 12, 2017 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 8483

Re: How does personal wealth affect job hunting?

Hi KlangFool, I've read many of your posts and appreciated your commonsense and wise responses to a lot of other posters' questions. I retired early (at 57) 3 years ago, primarily due to C and D, in that order - though I was making really great money as a senior engineer ("Platform Architect") in a ...
by RetiredMule
Fri Aug 11, 2017 12:05 am
Forum: Local Chapters and Bogleheads Community
Topic: Your USER NAME...what does it mean?
Replies: 440
Views: 49377

Re: Your USER NAME...what does it mean?

Mine is meaningful to me in two ways:
1) R and M are the initials of my name
2) Like many of us who have worked and retired, I've been carrying too many financial burdens, with some off my back now. A bit happier now that I'm retired, though on a paper-thin margin, too close for comfort :wink:
by RetiredMule
Thu Aug 10, 2017 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 62
Views: 9674

Re: Do I really need a trust?

Thanks WoodSpinner for posing this question to the BH forum!

I've been a longtime lurker, recent member. Very interested in the responses from fellow BH brains, as I have been meaning to ask the same question.
by RetiredMule
Sat Oct 01, 2016 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: help starting fresh from years of financial disaster
Replies: 29
Views: 4204

Re: help starting fresh from years of financial disaster

Congrats to you nestor400 for having started on the right course for the future and a career with great earnings potential! As a guy who has made many huge mistakes in investing over my 26 years of investing life, I'd say you're definitely on a great investment/retirement planning path if you pursue...