Bogleheads.org

- One owner with two payment-on-death (POD) beneficiaries on the account should be covered for 500K.

- Joint account with two owners should should be covered for 500K.

You will save on income taxes by moving to a state that has no income tax if that is your goal.
You are already aware that there are other factors to consider.

I'm retired in SoCal.
Tried Nevada to avoid the 9.3% Cali state income tax.
Missed the ocean and the friends I love so I came back in a hurry.
The income tax savings could not compensate.

I spend on things & experiences that bring joy.
I treat myself as well as I can afford.
I enjoy the good things on this earth while I can.

Won the game when I became eligible for full pension and full medical subsidy.

No need to work to eat bread anymore.

Current stash is mostly for fun, LTC if needed, big emergencies, charity , heirs.

My time is for me and for those I love.

Consider treasury bills.

I am not saying they are unattractive to people that understand how they work, but I think many new people bought them thinking they were getting an interest rate of 9.62% or 6.89% when they were really only getting a fixed rate of 0% or 0.4% plus a fleeting inflation adjustment. So now that money markets and CDs are available for 4.5%, 5% or higher, I think people will be less inclined to stick with iBonds unless the fixed rate comes in quite a bit higher. I am not disillusioned with iBonds because they don't stay at the 9.62% I started with. Rather I am disappointed because, DESPITE the FED continually raising interest rates, Treasury lowered the rate on iBonds once, in Nov, and now pundits say they will do so going into May. To me, what...

DonIce wrote: ↑Fri Mar 10, 2023 11:32 am

trirunner wrote: ↑Fri Mar 10, 2023 11:28 am Those are mostly for systematically important banks. Small banks are less scrutinized, and that's we have FDIC insurance. Also, no such thing as 100% non-failure in any sectors.

SVB isn't exactly a "small" bank. It's the 2nd largest bank failure in US history. This single bank failure represents more than 1/2 of the total assets of all bank failures combined in 2008.

https://www.fdic.gov/bank/historical/bank/index.html

Total assets of banks that failed in 2008: $373B
Assets of SVB as it failed: $209B

Yes.
We're not talking about chump change here.
This is huge.

steadyosmosis wrote: ↑Sat Mar 11, 2023 11:12 am

Charles Joseph wrote: ↑Sat Mar 11, 2023 10:32 am

retired@50 wrote: ↑Sat Mar 11, 2023 10:09 am This sounds like some sort of security protocol to me.

Regards,

Agreed and thanks. My thought is they have the checks but wouldn't confirm receipt unless I could give them the exact amounts, due to security reasons. Should probably hit my IRA next week (I hope).

I hate rollovers. The money disappears into the vortex for a while. I think this should be my last one (will likely leave my 401k at Fidelity in there. It's got excellent options; all low-cost Fidelity index funds).

FWIW, when I have done rollovers from 401k, the 'FBO' check comes to me, and I drive it to my local Schwab office and deposit.

Same here.
Never had a problem.

File electronically.

Are treasuries safe at brokerages?

Frequency: daily
Duration: 30 minutes minimum
How long has it been part of your lifestyle?: 41 years

Also cycle every other day when weather permits.

Do not try to hedge your bet.
If you are moving to a new town sell the house and move.
Things will work out fine.

Hues10 wrote: ↑Sun Mar 05, 2023 6:50 am It is good that there is not one true answer to the question of what should I invest in to have a secure retirement of 30 years. Everyone’s circumstances are different and end game is different. Do you analyze the stock market returns over the last 100 years, 50 years, 30 years? That will keep this website active for years to come. But like horse racing, you can have all the statistics in the world being analyzed, but on this particular day, the horse either will run better than their statistical modeling averages or worse. No one knows until the race is won. Keeps life interesting trying to predict the future. If you are into that sort of thing.

Amen!

My current asset allocation is based on my ability, my willingness and my need to take risk.

It is primarily based on my current financial goals.

To the question at hand: My safest asset allocation is held in bonds and cash.

What is the suggested remedy for this trend?

assets - liabilities >= 1000000

Please limit the size of your meat servings to 3.5-ounce.

Have lots of them.
Gave up long time ago.
Ripped out the lawn.
Just let them do their thing.
Lawns in this area are discouraged anyway.
Perpetual drought.

No regrets.

I planned to retire on a certain date.

I took the mandatory retirement class.

I retired.

Life is good.

The BH 3-fund portfolio and a bit of continuing financial education on the forum can be very profitable.
Try it.

JenniferW,

You're freaking out folks.

Continue your experiment and report your progress.

Your main task is to convince the lady of the house to abandon RJ.
Good luck.

placeholder wrote: ↑Sun Feb 12, 2023 7:01 pm When I was still working I maxed retirement accounts then spent what I wanted then saved the rest so no fixed percentage.

Same.

Net worth and income change frequently.
Just give them something.

petulant wrote: ↑Mon Feb 13, 2023 6:47 am The bottom line is that OP should be working with a CPA and/or attorney familiar with their specific state laws and trust documents. Nevertheless, absent something specific from those documents, it is very likely the stated amounts must be allocated proportionately to both beneficiaries. However, given that capital gains are being distributed at all, that implies (but does not guarantee) there is something specific going on in the documents, which goes back to OP needing to be working with professionals familiar with their documents.

Agreed.
OP should consult an appropriate professional.

I used to be amused when physical science majors said that psychology was useless.

Pulling is fast.
Money is quickly available for trading.

To much to mention.
Heading to the gym ASAP.
Riding my bike after.

Be prepared to pay each custodian to close out each IRA.
Example: Ally charges $75 to close out an IRA.
The simplicity may be worth it to you.

galawdawg wrote: ↑Tue Jan 24, 2023 8:31 am Do you have someone near your Minnesota home that will serve as a caretaker? Assuming you spend much of your time in Florida during the winter, don't overlook the issues that can arise from having a vacant home in a state like Minnesota during the harshest months of winter. That is the case even if you winterize.

May need a caretaker for the Florida place too.

You will be fine.
Make sure you withhold enough.
You may withhold from pensions , required minimum distributions, etc.

JazzTime wrote: ↑Sat Jan 21, 2023 1:32 pm Wow. Sounds a bit crazy that they want a $15K deposit, then reject your deposit. Who thought that one up? I thought only the gov't was that stupid.

So what's a reasonable workaround? I'm not going to mail a check, although I suppose I could bring a check to the local Chase branch.

Any time I get these promo offers, I generally don't bother because the work on my part outweighs the benefit. However, even I choke on passing up this offer, so I will likely try to get it.

Looks like we have no choice.
Many private entities provide really crappy service these days.
Stopped complaining about community run entities long ago.

Retired.
No written budget.
Meet expenses as they come.

15 year fixed is preferred.
ARM must be carefully used.

Logged in and got it.

OP,

Money is no object.
Buy the Tesla and a fully equipped RX350.

Have fun.

No concrete advice but good luck with your plan.

Two things should determine your current asset allocation:

- Your goals.
- Your tolerance for risk.

Please revisit them.

Yes. You are tilting at windmills.

Cash back exclusively.

No.
Will take the market as it comes.

Never felt the need to re-think the 3-fund portfolio.
Used it for long term money and it served it's purpose well.
Best asset allocation in town for most folks.

It would be nice if these life skills were learned beforehand.

These vaccinations are part of my vaccination record at my medical plan.
They also provided a second card.

Let's assume your plan allows you to do this.
Make sure that your state's laws protect your Roth IRA against judgements.
I'm in Cali, my plan allows this ,I looked into it, and I abandoned the idea.

Getting rid of stuff.

4/ part-time as one of many hobbies if it provides a benefit to humanity.

sailaway wrote: ↑Mon Jan 09, 2023 6:33 pm This has always been my biggest beef with people who claim that life doesn't begin until retirement. You are doing it wrong, then. You should be fitting in things you enjoy throughout your life, even if it is as simple as a picnic, or whatever floats your boat. It isn't ways "Your money or your life." It is practicing gratitude and finding joy where you are, even while you pursue new goals.

Yes indeed.
Had so much fun in youth and still having a ball in retirement.
Never wait to enjoy the fruits of your labor.

Your goal: To grow and beat inflation
Your time horizon: Undecided
Recommended allocation: 100% Total Stock Index ETF