Search found 779 matches

by WillRetire
Mon Mar 25, 2024 9:16 am
Forum: Personal Consumer Issues
Topic: Humidifier recommendations?
Replies: 15
Views: 1032

Re: Humidifier recommendations?

I don't think you need to spend hundreds of dollars. You can find a warm mist or a cold mist for less than that. My experience with one of each: Vicks warm mist $40. Used this for years during winter months. Each one lasted about 3-4 years before the heating element could not be cleaned of scale/mineral build up. Filtered water helped but there was still buildup. Difficult to clean it off of heating element. Vinegar soaks helped (per instructions). It has an automatic shutoff when reservoir is low/empty. https://www.amazon.com/dp/B001FWXKTA?ref=emc_s_m_5_i_atc Levoit cool mist 4L $45. This is the one I have now. Like it very much. On low it lasts about 36-40 hrs and has automatic shutoff. Easier to clean than the Vicks warm mist. I do soak ...
by WillRetire
Sun Mar 24, 2024 12:59 pm
Forum: Personal Consumer Issues
Topic: Do you setback thermostat on your electric heatpump?
Replies: 47
Views: 2658

Re: Do you setback thermostat on your electric heatpump?

Mr. Rumples wrote: Sat Mar 23, 2024 8:55 pm Only have a heat pump in central VA. 66 at night/ 67 in the day; I use an electric blanket and space heaters since its just me. Summer is a different matter; 75 during the day, at night down to 72, but it cools fast.
We're in a somewhat similar situation in SE Virginia. A little warmer and more humid. A heatpump services our 2nd floor. In winter, we leave the thermostat set to 70, unless we go away for a few days and then we set it to 60. In summer, we set it to 79-80 during the day and 75-76 at night. It cools very quickly. In summer we do want it to run a fair bit to deal with the humidity.
by WillRetire
Sun Mar 24, 2024 12:36 pm
Forum: Personal Consumer Issues
Topic: refrigerator water filter cap
Replies: 12
Views: 618

Re: refrigerator water filter cap

I have a 17-year old Whirlpool refrigerator with external ice & water dispensers. Tried generic filters, but worried they do more harm than good, so subscribed to "everydrop" filter recommended by Whirlpool. Not cheap but there's a discount if you subscribe.

As to whether they do any good, I believe so. There's a big difference in scale/buildup on our humidifier if I use the filtered water vs. tap water. Much much less build up with the filtered water.

Also, don't forget to run 1-2 gallons of water through the water dispenser after installing a new filter. That seems to prime the filtering particles inside the filter.
by WillRetire
Sat Mar 23, 2024 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Simple things like writing a check, balancing a checkbook, depositing, withdrawing, interest. Teach a child... but how?
Replies: 39
Views: 2566

Re: Simple things like writing a check, balancing a checkbook, depositing, withdrawing, interest. Teach a child... but h

Does their high school offer a personal finance course? If so, they should take it. Mine didn't (many years ago) but it did offer an accounting course which I took, and that's where I learned how to write a check and manage accounts albeit with a business slant. It was useful.
by WillRetire
Tue Mar 19, 2024 10:36 am
Forum: Investing - Theory, News & General
Topic: Which industry will benefit from new real estate commission fee structure?
Replies: 120
Views: 9418

Re: Which industry will benefit from new real estate commission fee structure?

What is the new commission fee structure? Even if the settlement is approved as drafted? I ask because a) Where I live we already have the ability to negotiate the commission including a flat fee; and b) The initial news reports about what is in the settlement are starting to be walked back as it receives a closer review. Perhaps this thread is premature? Maybe not premature, but there will be unintended consequences, both predictable and unpredictable. Appraisers are starting to wonder if sale data will still be widely and comprehensively available as it is now on MLS systems. If not, guess what? Appraisal prices will go up. And for those who say lawyers and bankers can do much of the work, how much do you think they charge? And if you bu...
by WillRetire
Tue Mar 19, 2024 9:58 am
Forum: Investing - Theory, News & General
Topic: Which industry will benefit from new real estate commission fee structure?
Replies: 120
Views: 9418

Re: Which industry will benefit from new real estate commission fee structure?

Josh5000 wrote: Sat Mar 16, 2024 5:07 pm Does anyone know which industry and companies will benefit from the change of the real estate commission structure? If we are to look at home purchases similar to car purchases, what would be a dealership equivalent for real estate inventory? Is it Century 21, Redfin, or listing sites? Zillow got butchered and Redfin also fell on the news.
What is the new commission fee structure? Even if the settlement is approved as drafted?

I ask because
a) Where I live we already have the ability to negotiate the commission including a flat fee; and
b) The initial news reports about what is in the settlement are starting to be walked back as it receives a closer review.

Perhaps this thread is premature?
by WillRetire
Sun Mar 17, 2024 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5063

Re: Parents building a new house - how should they pay for it?

OP: They have strong income, so why not have them apply for a mortgage? With equal opportunity lending, their age should not be a factor. Thank you. That seems to be a compelling suggestion. My mindset had been to avoid mortgage interest as a cost, but the opportunity cost and tax burden of a large IRA cash out likely eclipse the former. Yes, I agree. Try not to touch the IRAs any more than is necessary. Their tax advantages + protections as retirement accounts make them worth keeping intact. Your parents can treat the mortgage on the new house as a short-term loan, a type of bridge loan, if they wish. For example, they can pay it off when they sell their current house. (Make sure the loan terms allow for prepay without penalty.) The build...
by WillRetire
Sun Mar 17, 2024 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 62
Views: 5063

Re: Parents building a new house - how should they pay for it?

OP: They have strong income, so why not have them apply for a mortgage? With equal opportunity lending, their age should not be a factor.
by WillRetire
Mon Mar 11, 2024 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 10461

Re: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?

I didn't know this, but Patients can change insurance only during end-of-year enrollment periods or at the time of “qualifying life events,” such as a divorce or job change. But insurers’ contracts with doctors, hospitals and pharmaceutical companies (or their middlemen, so-called pharmacy benefit managers) can change abruptly at any time. Source: How your in-network health coverage can vanish before you know it. I think that would apply to some Medicare Advantage plans. It would, but if you receive care from a provider who leaves the network, I believe that is a qualifying event for guaranteed issue of Medigap or to change to a different Advantage plan. Interesting. I had not heard that and would like to know more about that if it is true...
by WillRetire
Mon Mar 11, 2024 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 10461

Re: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?

I didn't know this, but Patients can change insurance only during end-of-year enrollment periods or at the time of “qualifying life events,” such as a divorce or job change. But insurers’ contracts with doctors, hospitals and pharmaceutical companies (or their middlemen, so-called pharmacy benefit managers) can change abruptly at any time. Source: How your in-network health coverage can vanish before you know it. I think that would apply to some Medicare Advantage plans. It would, but if you receive care from a provider who leaves the network, I believe that is a qualifying event for guaranteed issue of Medigap or to change to a different Advantage plan. Interesting. I had not heard that and would like to know more about that if it is true...
by WillRetire
Sun Mar 10, 2024 9:49 am
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4530

Re: How could I have known dental claim would be denied?

OP: I feel your pain and frustration. As you point out, even if you had gotten a pre-treatment estimate which *might* have shown the procedure wouldn't be covered, you would have proceeded anyway because you trust the dentist's judgment that this is necessary for your son. Note: I say *might*. A pretreatment estimate may have shown coverage amounts with lots of disclaimers about approvals and conditions for coverage. I.e. a pretreatment estimate might show just coverage if approved, not that it would be approved. I suggest appealing the claim through your employer benefits team (part of HR?). That approach worked for us many years ago when MetLife dental denied a claim for a gum treatment (microbial injections to save gums). We appealed and...
by WillRetire
Fri Mar 08, 2024 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 10461

Re: Your Original Medicare Experience: Nightmare or Sublime?

TheEleven wrote: Thu Mar 07, 2024 4:59 pm . . .
For instance, regarding OM, a friend of mine is witnessing “the endless nightmare that my in-laws are going through right now, constantly dealing with medical billing issues, and negotiating prescription costs, trying to find a doctor that is taking new patients, and waiting forever to get in to see a specialist.”
. . .
OP: The problem you describe above does occur in VHCOL areas where doctors & specialists limit the # medicare patients because the reimbursement rate is so low. Whether MA plans in VHCOL address this, I do not know. Just make sure it is an excellent MA plan with a long track record. Kaiser's is one that some bogleheads have said is excellent in a VHCOL area, for example.
by WillRetire
Fri Mar 08, 2024 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 10461

Re: Your Original Medicare Experience: Nightmare or Sublime?

Here are some data points: 1 year on OM with employer supplement: expensive & some hassle with denied claims due to 2 or more doctors at same practice treating patient on same day in hospital. Claims were eventually reprocessed & accepted after a phone call. Multiple cases of this. moderate hassle 10.5 years on OM with medigap Plan F which of course is standardized and therefore different than employer's supplement: affordable and hassle-free = sublime . Even Part D is easy ( sublime ) as one can shop & enroll under mymedicare.gov each year. Elderly parent #1: OM with medigap Plan F: hassle-free and sublime , though expensive in later years as it was an attained-age plan (Pennsylvania). Parent was confused about Part D as it was...
by WillRetire
Mon Mar 04, 2024 9:22 am
Forum: Personal Investments
Topic: Starting to get a little queasy with my AA
Replies: 31
Views: 4605

Re: Starting to get a little queasy with my AA

Money_Badger wrote: Sat Mar 02, 2024 11:32 pm . . .
So, here's my question ... If you add all the above up, my AA is 82% stock / 14% Bonds / 4% Other (mostly cash).
. . .
OP: Is this (your current AA) deliberate? Or is it accidental by virtue of your retirement plan fund choices?

Have you taken the suggested survey to determine what your AA should be given your retirement time frame, withdrawal needs, and risk tolerance?

That is a first step. We can't tell you what it should be.

IMO if you decide to change your AA to reduce exposure to stocks, this is a good time to do that given that the US stock market is at/near an all time high.
by WillRetire
Sun Mar 03, 2024 8:23 am
Forum: Personal Investments
Topic: Starting to get a little queasy with my AA
Replies: 31
Views: 4605

Re: Starting to get a little queasy with my AA

Your unease may be a sign that your AA is too risky for you. Consider taking an AA questionaire to figure out what it should be. https://investor.vanguard.com/tools-calculators/investor-questionnaire Target funds are great except when you have a lot of other investments which means you need to manually recalculate your real AA. Maybe shift that money into stock & bond funds once you figure out your new target AA. Consider including a measurable "riskless" category in your AA. %Stocks %Bonds with risk (typical bond fund) %Riskless = cash and bonds that cannot lose value, like I-Bonds. For example, a 70/30 portfolio could become: 70/20/10 Stocks/BondsWithRisk/Riskless. Liquid cash/assets in the riskless category can serve as you...
by WillRetire
Sat Mar 02, 2024 7:41 am
Forum: Personal Consumer Issues
Topic: Flea Remedies That Have Worked for You?
Replies: 40
Views: 3354

Re: Flea Remedies That Have Worked for You?

For our dog, we use a Seresto collar and Vet's Best Flea & Tick Home Spray which can be used on him and his bedding. Smells strongly of cloves but otherwise is not objectionable to humans. There is a separate formulation for cats which we have not used because we don't have a cat:
https://www.chewy.com/vets-best-cat-fle ... /dp/148046
by WillRetire
Sat Feb 24, 2024 11:24 am
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2487

Re: SS benefits - apply online, BUT still must go in to office

A trip to the office was successful, but required about 2 hours of waiting because the line around the block was already really long 30 minutes before the office opened. Interaction with staff was only 10 minutes to show photo ID and get it copied. My local SS office is a disgrace, but you can go to any office. My last visit I traveled 30mins to a different SS office and it was like night and day. Good tip! I recall doing something similar when my local office failed to process a form I sent to them by certified mail. I called SSA office in an adjacent city, got through (miracle#1), described the problem, she suggested I fax the form to them (!), lo and behold they processed the form (mircale#2). Note to self: Use the office in the adjacen...
by WillRetire
Sat Feb 24, 2024 9:19 am
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2487

Re: SS benefits - apply online, BUT still must go in to office

livesoft wrote: Sat Feb 24, 2024 9:04 am
WillRetire wrote: Sat Feb 24, 2024 8:47 am Yes, clearly they are trying to protect against fraud. But there is no in-person check of ID to sign up for medicare, and she was already on medicare and therefore known to the SSA/CMS systems.
I told her they wanted to make sure she was still alive and her family wasn't going to collect her benefits.
:happy Use of her medicare card is on the honor system, I guess.
by WillRetire
Sat Feb 24, 2024 8:47 am
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2487

Re: SS benefits - apply online, BUT still must go in to office

Yes, clearly they are trying to protect against fraud. But there is no in-person check of ID to sign up for medicare, and she was already on medicare and therefore known to the SSA/CMS systems.
by WillRetire
Fri Feb 23, 2024 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2487

Re: SS benefits - apply online, BUT still must go in to office

Your experience matches mine from almost 10 years ago. Our local office was and still is overloaded. Took elderly relative to local office in a wheelchair. We were prepared to wait hours and did.

ETA: Thanks for the warning that even transactions which were previously completed online now require a visit & inperson ID. That's disappointing.
by WillRetire
Thu Feb 22, 2024 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Be careful - could happen to anyone [fraudulent bank transactions]
Replies: 78
Views: 12755

Re: Be careful - could happen to anyone [fraudulent bank transactions]

To add payees to the OP's billpay service on the bank account, wouldn't the crook have to sign into the OP's account on the bank's web site?

I would certainly change my password for the bank's web site, if that hasn't already been done.

Scary scenario. Thanks for sharing.
by WillRetire
Thu Feb 22, 2024 6:31 am
Forum: Personal Consumer Issues
Topic: The Shrinking Lifespan of Large Appliances
Replies: 108
Views: 10388

Re: The Shrinking Lifespan of Large Appliances

madbrain wrote: Thu Feb 22, 2024 12:19 am
WillRetire wrote: Wed Feb 21, 2024 1:07 pm There are some really good comments in the WSJ article. I am able to read this article & comments without a subscription.
https://www.wsj.com/personal-finance/th ... g-e5fb205b

I can't get past the pay wall on Firefox for Android with your link. Can only read a couple paragraphs.
Sorry about that. Looks like that link expired. The article is currently available at the link below, but WSJ comments are not viewable.
https://kanebridgenews.com/the-lifespan ... shrinking/
by WillRetire
Wed Feb 21, 2024 1:07 pm
Forum: Personal Consumer Issues
Topic: The Shrinking Lifespan of Large Appliances
Replies: 108
Views: 10388

Re: The Shrinking Lifespan of Large Appliances

There are some really good comments in the WSJ article. I am able to read this article & comments without a subscription.
https://www.wsj.com/personal-finance/th ... g-e5fb205b
by WillRetire
Wed Feb 21, 2024 1:00 pm
Forum: Personal Consumer Issues
Topic: The Shrinking Lifespan of Large Appliances
Replies: 108
Views: 10388

Re: The Shrinking Lifespan of Large Appliances

If you want something that is built to last, then buy a brand that is built to last AND pay to have it repaired. This is way easier said than done. It's not really clear what will last, and paying for a repair is probably just good money before bad as it needs a second repair then a third repair. Many of us have been down that road before. An appliance needing an expensive repair after 5 years is probably not worth fixing in the long run. Sure. But IMO it is worth a phone call and 5 years is on the low side. A refrigerator, oven, cooktop, washer, dryer, dishwasher... all of those should last at least 10 years and are worth a repair cost of a couple hundred dollars. It is certainly a personal preference. Many draw the line at 5 years, as I ...
by WillRetire
Wed Feb 21, 2024 12:47 pm
Forum: Personal Consumer Issues
Topic: The Shrinking Lifespan of Large Appliances
Replies: 108
Views: 10388

Re: The Shrinking Lifespan of Large Appliances

Through their purchasing behavior, many (most?) consumers don't want long-lasting major appliances. For example, in the 1990s and 2000s we called our excellent appliance repair guy when something broke. He came out and fixed. We've since moved and no longer have a trusted single appliance repair person, but we do call the appliance manufacturer when something breaks. Based on conversations with friends & neighbors, we're in minority with this repair-it philosophy. Most people replace the appliance when it breaks if it is older than 5 years. They want newer technology. Kind of like their smart phone! If you want something that is built to last, then buy a brand that is built to last AND pay to have it repaired. BTW, I don't find mention ...
by WillRetire
Tue Feb 13, 2024 8:53 pm
Forum: Personal Consumer Issues
Topic: "known issue" with Amazon Prime Visa at Whole Foods
Replies: 9
Views: 1671

Re: "known issue" with Amazon Prime Visa at Whole Foods

I recently downloaded the Whole Foods app, and configured it to register my Amazon Prime Visa card, so now when I check out at Whole Foods I bring up the app to show a QR code which they scan at the cash register. That seems to do the trick, i.e. gets me the extra sale prices as a Prime member at Whole Foods. Then of course, there's the 5% points back on the credit card after the fact.

It does seem that they should be able to determine from your credit card that you are a Prime member and give you the discounts, but for now, there seems to be this extra step of scanning the QR code from the app when you check out and before you pay.
by WillRetire
Sun Feb 11, 2024 8:01 am
Forum: Personal Consumer Issues
Topic: Elderly family member still has AOL email
Replies: 28
Views: 2815

Re: Elderly family member still has AOL email

OP: Do check if they are still paying. Hopefully not, but I think AOL does still have a fee-based service, app or no app.

AOL's browser-based mail service has been around for 15-20 years, a fact which some users from the 1990s (and many who never even had AOL!) do not know.

The spam is horrendous. I suspect this could be because AOL leaves the email address in cookies or somewhere for other web sites to view.

Unrelated trivia, AOL is now part of the same company as Yahoo, IIRC


ETA: Bashing AOL users is a ton of fun! But remember, karma is a witch! I mean, who even uses email any more?! Text, text, text!
by WillRetire
Sat Feb 10, 2024 8:50 am
Forum: Personal Consumer Issues
Topic: Lagoon communities in Florida - Thoughts/personal experiences?
Replies: 58
Views: 6448

Re: Lagoon communities in Florida - Thoughts/personal experiences?

This lagoon trend feels like a fad. Is swimming allowed? Is the water clear or murky? If murky, there could be tragic consequences if unable to see a child or person or pet.

Man-made lakes/lagoons are a developer's technique to create water-front properties, and perhaps also to manage drainage.

OP: If I were you, I'd look for a place with a really nice pool instead. Or a place on/near a natural lake with fishing. Whichever one appeals to you. What about a place with a shuttle to the beach?
by WillRetire
Mon Jan 29, 2024 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Delay Filing an LTCI Claim?
Replies: 94
Views: 6029

Re: Delay Filing an LTCI Claim?

CMS periodically inspects and rates facilities, and they publish the results. From this medicare web site, you can look for SNFs within a specified radius of a zip code, and filter on overall star rating. Perhaps some new options will emerge to check out for your relative. https://www.medicare.gov/care-compare/?providerType=NursingHome About 10 years ago I was in a similar situation as yours, and wished I had known about the above web site and star ratings. It would have helped me in my search for a decent facility. I have observed that the star ratings do change over time. I would avoid a facility that has warnings or is rated only 1 or 2 stars overall. Better would be a facility that has an overall rating of 4 or 5 stars. 3 might be OK es...
by WillRetire
Thu Jan 25, 2024 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring early: Health Insurance
Replies: 97
Views: 11318

Re: Retiring early: Health Insurance

OP: Be flexible as to your location. Most (in some places all) ACA plans are HMOs. Some HMOs are better than others. If you are willing to relocate to city/county with better ACA HMOs, you'll have better healthcare should you or your spouse need it. You never know.
by WillRetire
Wed Jan 24, 2024 9:24 am
Forum: Personal Consumer Issues
Topic: Surprise out of network
Replies: 23
Views: 2625

Re: Surprise out of network

This recently happened to me. In my case, my insurers website said the provider was in network on their web page. Claim was denied so I appealed and pasted a screenshot of their website. In this case, that appeal was approved and the claim was paid “as a one time courtesy.” Sometimes you can also run into Bs where the facility is in network but the provider isn’t. (Shady) anesthesiologists were known for this before the practice was made illegal. +1 This worked for me too. Never hurts to check online & save screen shot showing provider is in-network. This amount of effort shouldn't be necessary, but medical offices don't always give correct answers to the questions about "in-network" vs "accepts your insurance". Two...
by WillRetire
Tue Jan 23, 2024 8:01 am
Forum: Personal Consumer Issues
Topic: Best car for icy weather? Advice about driving in snowy conditions?
Replies: 113
Views: 7578

Re: Best car for icy weather? Advice about driving in snowy conditions?

In snowy conditions, AWD helps a lot, as does good clearance.

Don't drive if you don't have to, because even if your car can handle it, others' around you may not and you could find yourself involved in an accident with another car, or an object.
by WillRetire
Mon Jan 22, 2024 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Delay Filing an LTCI Claim?
Replies: 94
Views: 6029

Re: Delay Filing an LTCI Claim?

AnnetteLouisan: Great advice above. LTCi policies differ in many key respects. Mine is treated like a large pool and lasts longer if I use less than the daily max, so it is worth daily max X 365 X 5 years, but if I use half the daily max it will last 10 years instead of 5. I would want to file as soon as eligible under my type of policy. If your relative's policy is capped at 2 years no matter how much or little is used, then delaying may make sense, however, I would be surprised if the policy is that inflexible. Policies vary greatly so that is why you need to read it. Pay close attention to the definition of terms up front so that you truly understand what they call "in-home care" vs "at home benefit" just as an exampl...
by WillRetire
Fri Jan 19, 2024 7:46 am
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39568

Re: No-state-income-tax states are not good for retirees.

Total state & local income tax burden is a consideration, as are which types of income are taxable (in some states social security is not taxable).

Maybe medium-to-high state & local taxes translate to excellent services; Maybe not.
Even more important: is the state government well managed and fiscally responsible, or does it have a growing debt problem?
by WillRetire
Wed Jan 17, 2024 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Helping retired parents, Why quarterly tax payments?
Replies: 35
Views: 3228

Re: Helping retired parents, Why quarterly tax payments?

WillRetire, if your retirement will include a period before Social Security and RMDs, then you will probably need to do quarterly estimated taxes yourself. Use this gift of experience from your parents to try out both EFTPS and IRS Direct Pay (and all the various government ID systems you need to get into them :mrgreen: ) The start of Social Security and RMDs (or other deferred-tax withdrawals) will add withholding options. The recent thread on "When [during the year] to take RMD?" might provide some ideas. https://www.bogleheads.org/forum/viewtopic.php?t=421176 MJS: I suspect you meant to address your post to the topic author, okie745. In my previous post I was trying, unsuccessfully I might add, to answer a question from solari...
by WillRetire
Wed Jan 17, 2024 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Helping retired parents, Why quarterly tax payments?
Replies: 35
Views: 3228

Re: Helping retired parents, Why quarterly tax payments?

Do speak with their CPA first. Many retirees prefer to pay all tax via 1040ES in 4 quarterly installments, and NOT through withholding. The reasons: 1. income is lumpy and 2. it is from multiple sources. It would be challenging to manage multiple withdrawal amounts from multiple sources (SS, pension, MRD, CD interest, etc). It is simpler to pay the minimum required tax through 1040ES, where "minimum" = safe harbor amount. Another even simpler alternative, is to pay all of the year's safe harbor tax out of the IRA MRD, as that provides another form of safe harbor regardless of when it was collected. Hey WillRetire, Do you know if distributions from Inherited Traditional IRAs are treated the same way as distributions from Tradition...
by WillRetire
Tue Jan 16, 2024 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Helping retired parents, Why quarterly tax payments?
Replies: 35
Views: 3228

Re: Helping retired parents, Why quarterly tax payments?

Do speak with their CPA first. Many retirees prefer to pay all tax via 1040ES in 4 quarterly installments, and NOT through withholding. The reasons: 1. income is lumpy and 2. it is from multiple sources. It would be challenging to manage multiple withdrawal amounts from multiple sources (SS, pension, MRD, CD interest, etc). It is simpler to pay the minimum required tax through 1040ES, where "minimum" = safe harbor amount. Another even simpler alternative, is to pay all of the year's safe harbor tax out of the IRA MRD, as that provides another form of safe harbor regardless of when it was collected. Hey WillRetire, Do you know if distributions from Inherited Traditional IRAs are treated the same way as distributions from Tradition...
by WillRetire
Tue Jan 16, 2024 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Helping retired parents, Why quarterly tax payments?
Replies: 35
Views: 3228

Re: Helping retired parents, Why quarterly tax payments?

Do speak with their CPA first. Many retirees prefer to pay all tax via 1040ES in 4 quarterly installments, and NOT through withholding. The reasons: 1. income is lumpy and 2. it is from multiple sources. It would be challenging to manage multiple withdrawal amounts from multiple sources (SS, pension, MRD, CD interest, etc). It is simpler to pay the minimum required tax through 1040ES, where "minimum" = safe harbor amount.

Another even simpler alternative, is to pay all of the year's safe harbor tax out of the IRA MRD, as that provides another form of safe harbor regardless of when it was collected.
by WillRetire
Sat Jan 13, 2024 11:16 am
Forum: Personal Investments
Topic: Is anybody actually running out of money in retirement?
Replies: 201
Views: 48383

Re: Is anybody actually running out of money in retirement?

I wonder if there are different definitions of "running out of money".

Here's mine: assets including savings are near 0, and expenses exceed income without needs-based government assistance
by WillRetire
Sat Jan 13, 2024 8:52 am
Forum: Personal Investments
Topic: Is anybody actually running out of money in retirement?
Replies: 201
Views: 48383

Re: Is anybody actually running out of money in retirement?

What makes this forum so great are intelligent, logical, outside-the box thoughtful posts. Today, this point is exemplified by Ivygirl and AnnetteLouisan . Different points of view make this a very interesting thread. Most of us are probably somewhere in the middle but we need to be challenged and tugged, else we get set in our ways and forget why we do what we do with personal finances. I enjoyed reading the Ben Stein/Phil DeMuth book: Yes, You Can Still Retire Comfortably! , written for baby boomers but the advice is timeless (except maybe for geopolitical changes to the list of countries to retire to for lower COL). https://www.goodreads.com/book/show/186001.Yes_You_Can_Still_Retire_Comfortably_ The authors advocate living below your mea...
by WillRetire
Fri Jan 12, 2024 9:12 pm
Forum: Personal Investments
Topic: Is anybody actually running out of money in retirement?
Replies: 201
Views: 48383

Re: Is anybody actually running out of money in retirement?

From reading Ivygirl's and others' posts, safe affordable housing is key.

Maybe more solutions will present themselves. For example: If colleges find themselves with reduced enrollment, maybe their on-campus housing could be repurposed as senior living communities.
by WillRetire
Fri Jan 12, 2024 9:23 am
Forum: Personal Investments
Topic: Is anybody actually running out of money in retirement?
Replies: 201
Views: 48383

Re: Is anybody actually running out of money in retirement?

Yes, it happens. There are many examples written about it in the press, but details do matter. Based on what I have read in such articles, plus family experience, there is a common thread: over-spending early in retirement Seems like many people have difficulty managing expenses when there's a big nest egg sitting off to the side. A simple spreadsheet, or financial planning software, or pen & paper to predict & track year-by-year expenses & withdrawals might be helpful. Also, discipline. Basic personal finance education would benefit many people as they shift from paycheck-mode to nest-egg-mode. When it does happen (nest egg runs down or out), the person feels shame and may try to hide it. Or worse, deny it. Downsizing to a smal...
by WillRetire
Wed Jan 10, 2024 9:07 pm
Forum: Personal Consumer Issues
Topic: Gift ideas for retiring male doctor? (PCP)
Replies: 6
Views: 1271

Re: Gift ideas for retiring male doctor? (PCP)

camden wrote: Wed Jan 10, 2024 12:37 pm Another vote for the card and note. Tell him why you are sending it, and what he has done to deserve your appreciation. To be thanked for your efforts is worth its weight in gold. No matter how many cards he receives, yours will always be unique, and he may not receive nearly as many as you might think.
This is very helpful. Thanks very much.
by WillRetire
Wed Jan 10, 2024 9:22 am
Forum: Personal Consumer Issues
Topic: Gift ideas for retiring male doctor? (PCP)
Replies: 6
Views: 1271

Gift ideas for retiring male doctor? (PCP)

He's around 65, a great primary care physician. I do not know him socially, but know that he loves dogs and sailing. I expect he will receive loads of gifts from his hundreds/thousands of patients.

Any ideas?

Amazon has a lot of mugs & tumblers with the sentiment:
A truly great doctor is hard to find, difficult to part with, and impossible to forget
A perfect sentiment for how I feel about him. But maybe a lot of his other patients will buy those too and he'll end up with 100 of them!

Another thought: A card with a handwritten note expressing my gratitude.

Appreciate new and thoughtful ideas. Thanks in advance.
by WillRetire
Mon Jan 08, 2024 2:47 pm
Forum: Investing - Theory, News & General
Topic: WSJ runs math on future returns from current highs
Replies: 80
Views: 12425

Re: WSJ runs math on future returns from current highs

scophreak wrote: Mon Jan 08, 2024 12:25 pm Sounds similar to much of the chatter of the past few years - 'stocks are at an all-time high and we expect muted future returns'. I guess 2023 didn't get the memo with the S&P500 gaining 24% for the year.

As always, I'll stick to my plan, ignore the noise, and stay the course...
Just to clarify: 2023 had a good bounce but the S&P 500 still didn't reach its prior all-time high of January 2022.

I do agree with your conclusion to ignore the noise and stay the course.

WSJ is just filling space.
by WillRetire
Sat Jan 06, 2024 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Dental and vision insurance
Replies: 35
Views: 6058

Re: Dental and vision insurance

For dental insurance that has out-of-network coverage, we now use Delta Dental. Plans vary by state. Currently we have their "Premium" plan which has individual max of $2000. As a couple we break even if either of us have a crown or major restorative, or if we need multiple fillings. $100 lifetime deductible per person, which we've already met. Preventative is fully covered. Delta has cheaper plans including an interesting progressive one where the benefits increase after the first 2 years. We could drop the Delta Dental plan because it is not cost effective at the current (high) premium rates. But right now, our dentists are in-network and we can afford the premiums. Note: There is a shortage of dentists and dental hygienists, so...
by WillRetire
Sat Jan 06, 2024 8:24 am
Forum: Personal Finance (Not Investing)
Topic: WHAT TO DOOO ? [Minimize taxes from 401k withdrawal]
Replies: 18
Views: 2282

Re: WHAT TO DOOO ? [Minimize taxes from 401k withdrawal]

[Title edited for clarity - moderator oldcomputerguy] I'm about to retire and need advice on how to remove a large sum of money form my 401K account with minimal amount of taxes owed. How can I at 62 years young of age transfer and or either buy property abroad to avoid these taxes ? Is it possible to roll a large sum of this money into a Roth account (not sure if i will be around after the mandatory 6 years) to protect my self form taxes. I'm in a unique position as I have no children to leave this $$$$ to and I'm planning on spending all my life long savings of over a Million dollars to spend. As the subject topic stats WHAT TO DO WHAT TO DO ????? Some different options: 1. Spread the withdrawals (or Roth conversions) over multiple years...
by WillRetire
Wed Jan 03, 2024 7:08 am
Forum: Investing - Theory, News & General
Topic: RMD 2024
Replies: 20
Views: 3344

Re: RMD 2024

I used to fret about selling low when taking the RMD, but then I figured out, from reading Bogleheads threads, that I could do a compensating transaction on the same day, so it wouldn't matter if I was selling low or high. For example, suppose I need to withdraw $10,123 from my IRA account to satisfy the year's RMD. On the day I withdraw the RMD, and say it is from bond fund FTBFX, I do an exchange into the same fund FTBFX in my Roth or 401K for the exact same amount from some other fund, often a money market fund or stable value fund, or stock fund if my AA indicates I need to reduce that asset class. This way, I maintain the same $amount of FTBFX overall and don't care if it is up or down. Another approach is to take the RMD from a fund w...
by WillRetire
Mon Jan 01, 2024 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care policy from 2004: good, bad, ugly?
Replies: 21
Views: 2260

Re: Long term care policy from 2004: good, bad, ugly?

LTCi policies may work with CCRC lifecare contracts in the sense that they defray the resident's expenses once the resident moves out of Independent Living to a higher level of care. The monthly fee would nearly disappear. Spouse & I explored this in detail when considering a high-end CCRC that offered both lifecare and FFS (fee-for-service) pricing options.
by WillRetire
Mon Jan 01, 2024 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care policy from 2004: good, bad, ugly?
Replies: 21
Views: 2260

Re: Long term care policy from 2004: good, bad, ugly?

Encourage your parents to ask questions like this to JH. There may be a lot of answers like "it depends", but they should still be helpful. And read the policy. Carefully.