Search found 3506 matches

by RetiredAL
Mon Mar 18, 2024 11:36 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4524
Views: 617257

Re: What frugal thing did you do today?

cheese_breath wrote: Mon Mar 18, 2024 10:54 pm Went to a pizza party last night. Host bought more pizza than necessary, offered me some of the leftovers. I accepted.

Had some of the free leftover pizza for lunch today. Put the rest in the freezer so I can have a frugal lunch some other day.
Knew a guy in college who had the left over pizza for breakfast. He warmed it up in the broiler, then put whipped egg on top, and put it back in the broiler for a couple more minutes. Basically an omelet on top of toast.
by RetiredAL
Mon Mar 18, 2024 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: The NAR settlement doesn't mean what you think what it means
Replies: 42
Views: 2103

Re: The NAR settlement doesn't mean what you think what it means

hash1848 wrote: Mon Mar 18, 2024 7:55 pm
Thank you for posting an an interesting alternate perspective.
by RetiredAL
Mon Mar 18, 2024 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Federal efile rejected * H&R Block
Replies: 33
Views: 4089

Re: Federal efile rejected * H&R Block

Update: HR Block called today as my issue had been "escalated". Very pleasant agent this time. She indicated (as a previous poster has said) that the form has to be signed (donee acknowledgement) and uploaded. Form 8283 very clearly states that this is only for a Section B, Part 1 donation. The donations are all small and in Section A. This is such a cluster. Sounds like Block just cannot get their stuff together this year. I will wait until the first week of April then off to the PO it is. Edited to add: There is another update to the software expected 3/22 Why bother putting non-cash donations on the tax return? Is the $175 refund the same if you leave off the clothing donation? Non-cash is not always small. About 8 years ago, ...
by RetiredAL
Mon Mar 18, 2024 8:52 pm
Forum: Personal Investments
Topic: Need to replenish Emergency Fund
Replies: 13
Views: 971

Re: Need to replenish Emergency Fund

OP -- I went thru similar 'replacement panic' when our Emergency Funds got used after I retired.

But I came to the realization that being over 59.5 and retired, that any of our retirement funds (IRA's or Roth's) were fully usable at any time, hence a dedicated E-fund was not longer needed.
by RetiredAL
Mon Mar 18, 2024 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Insurance Deduction
Replies: 10
Views: 658

Re: Medical Insurance Deduction

terran wrote: Mon Mar 18, 2024 8:05 pm
RetiredAL wrote: Mon Mar 18, 2024 4:41 pm Yes, we do the same with the small amount of Sched C Income DW gets. Income basically gets wiped out, and only having to pay 1/2 the S.E. tax.
Why do you only have to pay 1/2 of SE tax?
Because that the law.

SS tax is 7.65% each from employee and the employer. Well 'Grubberment' thinks most employers are rich Daddy Starbucks that can easily pay, but that self-employer's may be poor struggling Tom's so we'll give them a break.

SS Note: SS tax is really 2 taxes totaling 7.65%, with various limits.
by RetiredAL
Mon Mar 18, 2024 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Insurance Deduction
Replies: 10
Views: 658

Re: Medical Insurance Deduction

rmanick1 wrote: Mon Mar 18, 2024 12:00 pm
Yes, we do the same with the small amount of Sched C Income DW gets. Income basically gets wiped out, and only having to pay 1/2 the S.E. tax.
by RetiredAL
Mon Mar 18, 2024 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Use RMD to pay taxes
Replies: 21
Views: 1226

Re: Use RMD to pay taxes

corn18 wrote: Mon Mar 18, 2024 2:42 pm
I did similar with my Elderly Dad, using part of his RMD to trim-up (true-up) his withholding, vs having to make estimated payments.

My Dad's managed account also threw off a lot of income. I got him to dump the advisor solely on the extra tax cost that advisor was creating each year for my Dad. During his last 4 years, a simple BH style portfolio greatly reduced that income. After he passed, those minimally income producing ETF's took a nice 'step-up'.
by RetiredAL
Sun Mar 17, 2024 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Federal efile rejected * H&R Block
Replies: 33
Views: 4089

Re: Federal efile rejected * H&R Block

bmbutler wrote: Sun Mar 17, 2024 8:26 pm Thank you to all who have posted the same problem to know this is an H&R Block system issue. Come on, HRB, get your software updated! I wanted to get this done tonight to get my refund moving. We know governments like to play time delays with refunds the closer we get to April 15th.
How about the 'grubberment' getting their act together. Them (the IRS) not finalizing the form until 2/28 is pretty unacceptable.

After the form is finalized, HRB still has to get IRS approval of their upload for that updated form.
by RetiredAL
Sun Mar 17, 2024 9:46 am
Forum: Personal Investments
Topic: Back door Roth questions
Replies: 11
Views: 711

Re: Back door Roth questions

No need to close the IRA. It just needs to have a zero balance on 12/31. You can reuse it every year. If you haven’t done so already please read our Wiki on the topic. Which includes info on reporting this on your tax return. Form 8606. https://www.bogleheads.org/wiki/Backdoor_Roth Cheers Thank you very much! Do be aware that those monies in the Schwab IRA will be getting 10 cents a day interest and that interest will not post until month end, likely well after you convert. For just a few days of interest, that amount is so small it does not matter if it still shows are an IRA balance on 12/31. The warning around the 12/31 is around the concept don't dump a 401K balance as a roller into this IRA, or any IRA otherwise it will create a 'pror...
by RetiredAL
Sun Mar 17, 2024 9:10 am
Forum: Personal Investments
Topic: HELP - what to invest in for 750,000 windfall
Replies: 14
Views: 1969

Re: HELP - what to invest in for 750,000 windfall

Helloall wrote: Sat Mar 16, 2024 8:29 pm Hi all, new to Boglehead community and investing generally. I’m expecting windfall of about 750,000. I want to use all of it to invest long term over next 15-20 years so I can hopefully retire early (currently, 38).

Where would you invest this money if you were me and how would you allocate it?

Thank you for your help.
I surprised no one answered this yet. Fidelity, Schwab, or Vanguard are the common "where to" choices. Do not have it Advisor Managed.
by RetiredAL
Sat Mar 16, 2024 10:58 pm
Forum: Personal Investments
Topic: Asset allocation for "bridge funds" to be used from age 50-59.5?
Replies: 16
Views: 1994

Re: Asset allocation for "bridge funds" to be used from age 50-59.5?

investor389351 wrote: Sat Mar 16, 2024 10:42 pm
I wasn't familiar with the concept of tax-gain harvesting, thanks so much for bringing up the concept. It looks like the "bridge" years after I retire and before I have social security or pension income would be a good time to do tax gain harvesting.

I just read some more about the concept, and tax-gain harvesting in the 0% bracket could allow an investor to reset an asset’s basis which can reduce future taxable gains. The wash sale rule doesn’t apply to harvested gains, which means an investor could sell assets that have gains (and pay no LTGC taxes if their gains are below the $94,050 limit) and then immediately repurchase the same asset to increase the cost basis, thus reducing future capital gains.
+1 to each.
by RetiredAL
Sat Mar 16, 2024 9:20 pm
Forum: Personal Investments
Topic: Solicitation From Advisor--Privacy of Account
Replies: 15
Views: 1086

Re: Solicitation From Advisor--Privacy of Account

Schwab does this too as does everyone else. I ignore the calls. I ignore them too. Do you think advisors for firms target clients with large cash positions vs those who are diversified in a wide variety of equities? Do you know what metric they use in who they decide to contact? I assume this was Schwab over their current campaign to get people back into bonds. I think it's safe to say that the consultants are not likely to be routinely look/browse directly at your account(s) and holdings. They are most likely are working off a computer generated call list that has pointed you out as a candidate for suggesting their bond strategy to. I was called about 2 weeks ago relating to this bond drive, this was about a week after I attended a WebX p...
by RetiredAL
Sat Mar 16, 2024 5:13 pm
Forum: Investing - Theory, News & General
Topic: ACATS, individual bonds and cost basis
Replies: 5
Views: 974

Re: ACATS, individual bonds and cost basis

IRS F-8949 allows you to make adjustments. Sounds like you have the needed documentation to do and support the adjustments. I've never seen a post here where the IRS has challenged 8949 adjustments.

Lastly, don't assume the ACATS cost data will transfer 100% and the receiving brokerage may not want to change their records based on your word. Keep your own records!
by RetiredAL
Sat Mar 16, 2024 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40681

Re: Long Term Care Insurance

Yes, they are denied. And you are incredibly disrespectful to make that statement about my family members. You have no idea what your talking about. They went through hell with medical challenges and then the LTC insurance companies added massive insult to injury. And no, I’m not going to share private matters with you so that you can try and defend the abominable. I am sorry if you have had a loss, we had been thru 3 of these in a row a while back. It is really indescribeable if you have not been thru one yourself. In our experience the insurance was not denied. If you do not choose to share detials it will be impossible to try and add any helpful feedback. If you do not choose to share details please seek out legal counsel for you potent...
by RetiredAL
Sat Mar 16, 2024 12:22 pm
Forum: Personal Investments
Topic: Cash or CD's Instead of Bond Funds
Replies: 61
Views: 5442

Re: Cash or CD's Instead of Bond Funds

Ok, but if I don't like the offer you have to keep paying me $6 every year until I do. I will change my mind at the 7 year mark you see, I will may start paying you only $2 per year at that time. lakpr -- I concur with your logic. IMO, Bonds (+ CD or T's), do not carry the same inherent risk of NAV decline that intermediate and long Bond Funds do. goblue100 -- We humans are very 'loss adverse' and that emotion easily takes precedence over the fact that over 30 or 40 years, that fund will return close to the average interest rate (minus expenses) across that same period of time. Me -- When rates were near zero, they had no place to go but up, so those of us that positioned their fixed income holdings early away from intermediate/long bond f...
by RetiredAL
Fri Mar 15, 2024 9:56 pm
Forum: Personal Investments
Topic: Vanguard or Fidelity
Replies: 73
Views: 6492

Re: Vanguard or Fidelity

I'm not a VG user. I have accounts at Fidelity and Schwab.

I am retired and in distribution mode from my IRA's. Fidelity has a set of automated tools that makes selling of Fidelity assets and transferring those $ to our Checking Account efficiently and hands off. Monthly automated transfers are done from our taxable account to checking with automated quarterly sell and transfers from the IRAs to our taxable. The RMD requirement means more $ goes into taxable than $ out to checking. I cannot think of any way to make this better than what Fidelity already does.

Schwab, although a fine brokerage, lacks these tools unless you sign up for their robo manager/advisor program.
by RetiredAL
Fri Mar 15, 2024 1:49 pm
Forum: Personal Consumer Issues
Topic: Identity theft or something to ignore?
Replies: 18
Views: 1157

Re: Identity theft or something to ignore?

My Dad passed in his local hospital in the fall of 2022. Many months later, his e-mail address started getting bill notifications with no useful details from a company across the country from where he lived. I ignored the first couple, but when they kept coming I contacted them via their listed number. Turns out they were billing for a Hospitalist who worked at the hospital Dad had been in. The mailing address they used for my Dad was for the Independent Living Apartments, not the Assisted Living and since he had passed 6 month's before, the mail got returned as person unknown. Since the bills had not been addressed to the Assisted address, the filed USPS forwarding did not catch it. The hospital did have the Dad's correct home address. The...
by RetiredAL
Fri Mar 15, 2024 9:36 am
Forum: Personal Investments
Topic: Cash or CD's Instead of Bond Funds
Replies: 61
Views: 5442

Re: Cash or CD's Instead of Bond Funds

lakpr wrote: Thu Mar 14, 2024 8:19 pm
I am completely soured on bond funds, and decided to NEVER INVEST A PENNY MORE in any bond fund going forward.
For me, I won't say NEVER, but I'll be very wary.

When I was still an investing 'pup', a wiser investor told me what happens to Bond Fund NAV's during raising Fed Rates. So I was well positioned away from long/intermediate Bond Funds when the hammer dropped.

Of note, Schwab is currently drumming up business for Managed Bonds and Bond Funds on the expectation that rates will drop, where you could make a lot of money.
by RetiredAL
Wed Mar 13, 2024 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Genworth settlement offer, solvency & guaranty fund – thoughts?
Replies: 6
Views: 988

Re: Genworth settlement offer, solvency & guaranty fund – thoughts?

@RetiredAL: early 70s, one policyholder, own home. My view -- That premium is about 1.5% of the max policy payout. Since you are single, you are not protecting a spouse from financial ruin. If you continue with the policy, what you are doing is protecting up to $350K for whoever your estate goes to. I say keep it "as issued"without modifying, or dump it entirely. My Dad was faced with the same choice after Mom passed. His cost and plan was similar. I told him since he thought nothing of giving 1.5% to his financial advisor as a fee (a lot more that $4400/yr), that you've paid it for 18 years, so "keep it in-force". 2 years after this discussion at age 94, he went into Assisted Living for medical ADL reasons, and Genwort...
by RetiredAL
Wed Mar 13, 2024 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Genworth settlement offer, solvency & guaranty fund – thoughts?
Replies: 6
Views: 988

Re: Genworth settlement offer, solvency & guaranty fund – thoughts?

Purchased a Genworth long term care policy in 2011. Current details: Daily benefit amount: $233 Inflation benefit: 5% compounded Benefit period 4 years Total lifetime benefit: $340,900 Annual premium: $4,420 Received the Haney settlement offer letter. Am trying to evaluate Option 5 vs. keeping my existing plan vs. changing my existing plan outside of the settlement option. The cash payment is negligible ($1,200); here’s the rest: Daily benefit amount: $176 Inflation benefit: 5% compounded Benefit period 4 years Total lifetime benefit: $257,000 Annual premium: $3,340 AM Best currently rates Genworth’s financial strength as C++ “Marginal; a marginal ability to meet their ongoing insurance obligations”. The state’s long term care policy guara...
by RetiredAL
Wed Mar 13, 2024 3:25 pm
Forum: Personal Investments
Topic: Managing Mom's Investments
Replies: 17
Views: 1207

Re: Managing Mom's Investments

I went thru this with my now deceased Dad. He too would never have touched his investment accounts. So his investments were positioned to ultimately going to Sister and I. It's fine for an older person to not intend to touch accounts, but I don't believe it would be unusual for someone to run through $1M+ from those accounts for the benefit of that older person once the older person is no longer involved in the decision-making. I'm not saying common, but very possible. So when people talk about investing $2M or some amount like that as an inheritance for someone in their 70s for example, I don't see that. Age 95 might be a different story, and a lot depends on health obviously. I agree each situation is unique. My Dad spent his last 4 year...
by RetiredAL
Wed Mar 13, 2024 2:03 pm
Forum: Personal Investments
Topic: Managing Mom's Investments
Replies: 17
Views: 1207

Re: Managing Mom's Investments

I have come to realize that my Mother will never touch these funds barring a catastrophe. She is able to get by quite well with her SS and pension from a government job. I have encouraged her to spend her money, make improvements to her home, etc. That is never going to happen. She is approaching 80 and is in good health. So the question here is what to do? She trusts me and for me to discuss asset allocation with her would be a pointless exercise. Should I just treat her funds as my own and invest in what I think is appropriate for both myself and my Sister who will ultimately be inheriting this? I went thru this with my now deceased Dad. He too would never have touched his investment accounts. So his investments were positioned to ultima...
by RetiredAL
Tue Mar 12, 2024 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: How long after death to transfer assets
Replies: 33
Views: 3082

Re: How long after death to transfer assets

avalpert1 wrote: Tue Mar 12, 2024 9:40 pm What type of assets are in the account? It is possible it could be some sort of illiquid fund (real estate, hedge funds, etc.) that have limited periods for distributions and they have to wait for that.
4nursebee wrote: Tue Mar 12, 2024 2:53 pm
IF multiple parties are the TOD recipients, the advisor/broker may be waiting on something from just one person.

When my Dad passed, his IRA to my sister and it took about 4 weeks, much of that was waiting for the Death Cert to send in. We both had to create our own inherited IRA account, but being at Schwab, those were done on-line. With D.C. and accounts complete, it was just a few days.

All the rest of his investment accounts were in his Trust and had to be re-tittled to an EIN. Some went well, some did not.
by RetiredAL
Tue Mar 12, 2024 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Why my mom will continue to need a financial advisor
Replies: 23
Views: 2086

Re: Why my mom will continue to need a financial advisor

Volunteers at my town library file taxes for free, partnering with AARP/VITA/IRS Volunteer Tax Assistance Program. No income or age limits, and appointments can be in person or via secure internet line. Agree with above comment that tax preparer will not ensure RMD is taken, but can't you set that up as an automatic distribution? Yes, most financial institution can be setup to do RMD automatically, I am paranoid though and check their calculation every year. However, some of the other service like rebalancing is probably not handled automatically. Most of her question tend to be like, will my portfolio recover, etc. These are the sort of thing a FA would help with, but not a Financial Institutionals helpdesk. I think I will continue to do ...
by RetiredAL
Tue Mar 12, 2024 8:38 pm
Forum: Personal Investments
Topic: Hold long ETF's to avoid capital gains while moving to 3-fund?
Replies: 3
Views: 496

Re: Hold long ETF's to avoid capital gains while moving to 3-fund?

Hello all, I just transferred everything from my 1% assets under management broker into Fidelity. I am going to do the 3-fund portfolio with total market index fund, international index fund, US bond index fund, all through Fidelity FSKAX, FSPSX, FXNAX. Most of our money is non-taxable however, $30k is non-retirement/taxable. This is split between iShares expanded tech sector ETF (IGM) and first trust capital strength ETF (FTCS). Please note that $30k is a small amount of our total investments. Selling will incur $11k in long-term gains. My question is, do I simply hold onto these to funds to avoid capital gains or bite the bullet, sell and stick to the 3-fund asset allocation? Note, I am in a high tax bracket (luckily and unluckily;) ). T...
by RetiredAL
Tue Mar 12, 2024 8:08 pm
Forum: Investing - Theory, News & General
Topic: Schwab Information Thread with FAQ, Links, Tips and Q&A
Replies: 693
Views: 104195

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

Received an email about this: https://www.schwab.com/learn/story/7-things-to-know-about-t1-settlement What does this mean for us? As the customer -- Likely not much. 1) That after a sale, you may be able transfer the $ to your bank 1 day sooner. I say 'may' because Schwab has allowed transfer requests to be initiated as soon as a stock/ETF trade is made. next morning for Mutual Funds. 2) If you have margin turned on and buy something with without funds in-house, they may to charge you margin interest 1 day sooner. Again I say 'may' because generally Schwab has allowed a instant 'funds available' as soon as you request an inbound transfer from your bank. As the brokerage, their 'float' time-line is shorter so their internal costs will likel...
by RetiredAL
Tue Mar 12, 2024 7:50 pm
Forum: Investing - Theory, News & General
Topic: ReadOnly Accounts and trading with Advisors
Replies: 11
Views: 1243

Re: ReadOnly Accounts and trading with Advisors

When my Dad had Wells Fargo Advisor accounts, we could see all holdings but had to talk with the advisor to change anything or request a withdrawal. So basically 'read-only'.

WFA managed the account per an automated plan which the advisor selected as a best-fit to the owner. I have no idea if they would have allowed a directed 'buy 100 shr of xyz' onto top of the automated program. One of Dad's managed accounts had near 50 holdings. At the 1-1.5% AUM range, I doubt if you'd get custom management unless you had a boatload of money with them. We phone enter-acted with the advisor maybe 2x a year, plus 1 sit-down annual review.
by RetiredAL
Mon Mar 11, 2024 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: [Updated] The IRS Owes Me Money...
Replies: 20
Views: 2584

Re: [Updated] The IRS Owes Me Money...

I received a 1099 from the IRS relating to my late Dad's 2022 taxes filed in Sept 2023.
by RetiredAL
Mon Mar 11, 2024 1:10 pm
Forum: Personal Consumer Issues
Topic: Should we have plumber add expansion tank?
Replies: 4
Views: 610

Re: Should we have plumber add expansion tank?

Yarlonkol12 wrote: Mon Mar 11, 2024 1:01 pm Our house has a tankless water heater, installed over 10 years ago, it's been great. We have no expansion tank.

Plumber is quoting replacement of PRV valve which is broken and allowing the pressure in home to get up to 90psi, they are suggesting replacing PRV valve and also adding an expansion tank which they said should help extend the life of PRV valve. Any drawbacks to adding the expansion tank? They didn't think so, so it seems to make sense to do it as well

Appreciate any advice
An expansion tank will help the longevity of the pressure regulator.

Without an expansion tank, the PRV has to slam shut each time the water flow stops. The tank buffers this action, allowing the PRC to close more slowly.
by RetiredAL
Sun Mar 10, 2024 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: What's your primary credit card?
Replies: 117
Views: 10239

Re: What's your primary credit card?

Beside the Citi Costco, we use Wells Fargo 2% cash back card.
by RetiredAL
Sun Mar 10, 2024 3:29 pm
Forum: Personal Investments
Topic: Rollover IRAs - How many Rollover IRA (and Roth IRA) accounts do I need?
Replies: 3
Views: 602

Re: Rollover IRAs - How many Rollover IRA (and Roth IRA) accounts do I need?

I did 2 each at Fidelity. IRA1 is the pre-tax 401K, IRA2 is my pension lump sum. Roth1 is my contributions and the 401K post-tax, Roth2 is my conversions. My money is fungible, so having more than one of each type is for my personal preferences.
by RetiredAL
Fri Mar 08, 2024 6:42 pm
Forum: Personal Investments
Topic: Checkup: I'm way behind. Hope for late bloomers?
Replies: 42
Views: 5387

Re: Checkup: I'm way behind. Hope for late bloomers?

You are proportionally way ahead of where I was at 41. I'm now retired and living very comfortably. Today Approx 55% of our income is SS and 45% from IRA RMD's. This generates a surplus. I had a smaller Retirement Plan that I rolled into an IRA adding to a 2x larger 401K roll-over. Our Roth's, which were fully funded for 18 years, will likely never be touched.

Our big retirement balance buildup came after age 50 as kid expenses went down. Keep on trucking an you should be fine.
by RetiredAL
Fri Mar 08, 2024 12:07 pm
Forum: Personal Investments
Topic: Help find Fidelity low Expense funds to: FFFIX, PABGX, ISTIX
Replies: 27
Views: 1853

Re: Help find Fidelity low Expense funds to: FFFIX, PABGX, ISTIX

Wiggums wrote: Fri Mar 08, 2024 9:34 am
retired@50 wrote: Fri Mar 08, 2024 9:29 am
RetiredAL wrote: Fri Mar 08, 2024 9:21 am
The key is to 'search' on the Fidelity website for "freedom funds", which are low cost.
I think you mean Fidelity Freedom INDEX Funds.

They can be hard to find on the Fidelity website, but if you go to the link below, then click on the Asset Allocation tab, then scroll DOWN the page, you'll see the INDEX version(s) of the Fidelity Freedom funds.

https://www.fidelity.com/mutual-funds/f ... s/overview

Regards,
+1
Yes I meant "freedom index funds". And the word index is critical. I was on my way out the door for coffee and a walk.

Here's the list of those funds: https://www.fidelity.com/mutual-funds/f ... ndex-funds

You do not need to be logged on to see the list.
by RetiredAL
Fri Mar 08, 2024 9:21 am
Forum: Personal Investments
Topic: Help find Fidelity low Expense funds to: FFFIX, PABGX, ISTIX
Replies: 27
Views: 1853

Re: Help find Fidelity low Expense funds to: FFFIX, PABGX, ISTIX

I am trying to simplify my and my parents portfolio (it was managed by a financial planner but did horrible). I'll stick to my portfolio in this question as I hold a prior employer 401K fund in Fidelity that I've now simplified to the 3 funds: FFFIX PABGX ISTIX What I am also keeping an eye is that they are charging about $23.50 per month on an average balance of $115,000-$120,000. I cannot seem to understand what would be equivalent ETFs or Mutual Funds that I can buy in my existing employers 401k as they are only charging $20 for the entire year? My other 401k with my current employer is 100% SP& 500 Index fund at this point. I do have a brokerage option in that and so I I'd have to sell the above funds as they cannot be transferred ...
by RetiredAL
Fri Mar 08, 2024 1:39 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes, Expenses
Replies: 18
Views: 1341

Re: Estimateing Taxes, Expenses

rich126 wrote: Thu Mar 07, 2024 4:52 pm
delamer wrote: Thu Mar 07, 2024 5:30 pm Ignoring Social Security isn’t reasonable.
+1 to delamer comment

When I first retired at FRA, our SS was about 2/3's our income/spend.

Now that I'm into RMD's, SS is about 55% of our $100K income.
by RetiredAL
Thu Mar 07, 2024 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Putting in two weeks notice same day as bonus payment
Replies: 25
Views: 2775

Re: Putting in two weeks notice same day as bonus payment

loganvonstrangle wrote: Thu Mar 07, 2024 8:48 pm
RetiredAL wrote: Thu Mar 07, 2024 8:45 pm 1) When I retired in May 2016, the following Feb I got a prorated bonus check.

2) Payroll is processed ahead of time (1 to 2 days) so as to get the Direct Deposit to you on the pay date.

Righttt so if i see it in my bank its settled then?
Likely.

Claw-backs can occur, but I would consider that very very unlikely. That's money you earned by working there last year.
by RetiredAL
Thu Mar 07, 2024 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Putting in two weeks notice same day as bonus payment
Replies: 25
Views: 2775

Re: Putting in two weeks notice same day as bonus payment

1) When I retired in May 2016, the following Feb I got a prorated bonus check.

2) Payroll is processed ahead of time (1 to 2 days) so as to get the Direct Deposit to you on the pay date.
by RetiredAL
Thu Mar 07, 2024 8:34 pm
Forum: Personal Investments
Topic: My Tbill Matured & Vanguard Paid Me Twice
Replies: 7
Views: 1488

Re: My Tbill Matured & Vanguard Paid Me Twice

I've seen doubles like this at Fidelity and when the over-night settlement/postings are done, all was correct the next day. I always assumed these were a 'pending' and a 'posted' and when housekeeping was completed, the 'pending' goes poof.
by RetiredAL
Thu Mar 07, 2024 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9916

Re: Your Original Medicare Experience: Nightmare or Sublime?

jebmke wrote: Thu Mar 07, 2024 7:51 pm
RetiredAL wrote: Thu Mar 07, 2024 7:45 pm DW and I, OM + F -- zero issues across 8 years.

I manage my Dad's affairs for many years until he passed at age 97, OM + Tricare -- only one minor issue.
OM+F is obviously Medicare + F Medigap plan -- or is it Old Man + Female? :P
Both are correct, but in this context it is "Medicare + F Medigap plan", for both the Old Man and the Lady.
by RetiredAL
Thu Mar 07, 2024 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9916

Re: Your Original Medicare Experience: Nightmare or Sublime?

DW and I, OM + F -- zero issues across 8 years.

I manage my Dad's affairs for many years until he passed at age 97, OM + Tricare -- only one minor issue.
by RetiredAL
Thu Mar 07, 2024 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient Use of Kiddie Tax Threshold
Replies: 2
Views: 352

Re: Tax Efficient Use of Kiddie Tax Threshold

Are there any pitfalls with this plan to avoid taxes other than having to file a gift tax return Form 709 and the possibility he won't return the money to us? Is this worth it to save around $670 per year in taxes? It's pretty easy for me to fill out Form 709. I wanted to get some collective thoughts. My thought is that you will be teaching your son a lesson I don’t believe you intend to. A gift that must be returned is not a gift. Filing a 709 doesn’t make it a gift. I don’t think the 709 police are coming after you, but I would feel bad about it. He’s young and might not even connect the dots, but I would if it were me and my child. Children learn from watching us much more than from what we tell them. +1 I would think expecting it to be...
by RetiredAL
Thu Mar 07, 2024 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: adjusted cost basis & 8949
Replies: 22
Views: 1221

Re: adjusted cost basis & 8949

Thansk for your reply below. I have further questions. You wrote "I had the same exact question when I received my Fidelity 1099-B with a small wash sale reported of $95. Fidelity’s footnote that you posted makes it sound like the amount in the wash sale column is already reflected in the amounts in the cost basis and the realized gain/loss columns. However when I manually entered all 1099-B boxes into TurboTax (and later imported the 1099-B to confirm), the cost basis and gain reported on 1099-B were adjusted by the amount in the wash sale column. So my experience is #2 where the wash sale amount was added back and increased the realized gain. Seems at odds with the 1099-B footnote but for $95 I didn’t spend any more time on it."...
by RetiredAL
Thu Mar 07, 2024 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: adjusted cost basis & 8949
Replies: 22
Views: 1221

Re: adjusted cost basis & 8949

Thansk for your reply below. I have further questions. You wrote "I had the same exact question when I received my Fidelity 1099-B with a small wash sale reported of $95. Fidelity’s footnote that you posted makes it sound like the amount in the wash sale column is already reflected in the amounts in the cost basis and the realized gain/loss columns. However when I manually entered all 1099-B boxes into TurboTax (and later imported the 1099-B to confirm), the cost basis and gain reported on 1099-B were adjusted by the amount in the wash sale column. So my experience is #2 where the wash sale amount was added back and increased the realized gain. Seems at odds with the 1099-B footnote but for $95 I didn’t spend any more time on it."...
by RetiredAL
Thu Mar 07, 2024 12:45 am
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6473

Re: Fidelity and Bank of America data lost in Infosys breach

I disagree. It is a breach at Fidelity. The breach was McCamish Systems (owned by InfoSys) back in Oct. McCamish is an Insurance Records Keeper, US based, who handles Annuity Payouts and other insurance records. Both BofA and Fidelity Insurance used them as their record keeper. Fidelity Insurance is part of Fidelity and they outsourced their customer data. Are you confident Fidelity is not outsourcing their brokerage data as well? I will not guess (be a rumor-monger) as to what Fidelity, or any other company, has either outsourced processes or external support people. I agree however your post seemed to me to suggest this is a minor record keeping issue. Minor only in size, not the impact to those involved who had their data used nefarious...
by RetiredAL
Thu Mar 07, 2024 12:02 am
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6473

Re: Fidelity and Bank of America data lost in Infosys breach

Supposedly - based on several articles I read - the breach at Fidelity was only in the Fidelity Life Insurance component. I.e., none of the brokerage or mutual fund areas. If that is true, it should calm most of us. I disagree. It is a breach at Fidelity. The breach was McCamish Systems (owned by InfoSys) back in Oct. McCamish is an Insurance Records Keeper, US based, who handles Annuity Payouts and other insurance records. Both BofA and Fidelity Insurance used them as their record keeper. Fidelity Insurance is part of Fidelity and they outsourced their customer data. Are you confident Fidelity is not outsourcing their brokerage data as well? I will not guess (be a rumor-monger) as to what Fidelity, or any other company, has either outsour...
by RetiredAL
Wed Mar 06, 2024 11:36 pm
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6473

Re: Fidelity and Bank of America data lost in Infosys breach

anagram wrote: Wed Mar 06, 2024 11:08 pm
Horsefly wrote: Wed Mar 06, 2024 10:26 pm Supposedly - based on several articles I read - the breach at Fidelity was only in the Fidelity Life Insurance component. I.e., none of the brokerage or mutual fund areas. If that is true, it should calm most of us.
I disagree. It is a breach at Fidelity.
The breach was McCamish Systems (owned by InfoSys) back in Oct. McCamish is an Insurance Records Keeper, US based, who handles Annuity Payouts and other insurance records. Both BofA and Fidelity Insurance used them as their record keeper.
by RetiredAL
Wed Mar 06, 2024 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Is it Time to Self-Insure? CA Homeowners Rate Increases
Replies: 118
Views: 8841

Re: Is it Time to Self-Insure? CA Homeowners Rate Increases

As of August last year, USAA will not insure new customers in California unless their fire risk rating is 1 (On a scale of 1 to 32.) So that option is off the table though I may consider them for car insurance if I qualify with my wife's dad serving way back. USAA filed this underwriting change in April 2023 to take effect in March 2024. However, it hasn't been approved yet by the California Department of Insurance, so it is not in effect yet. If you qualify for USAA, you should get a quote while you still can. August 2023 is when Matthew Kupfer of the San Francisco Standard noticed the change. He appears to be the only newspaper journalist in Northern California who reads insurance filings. He's not going to write an article to tell you t...
by RetiredAL
Wed Mar 06, 2024 3:41 pm
Forum: Personal Investments
Topic: Inherited IRA
Replies: 8
Views: 1166

Re: Inherited IRA

CAsage wrote: Wed Mar 06, 2024 12:50 pm Concur with prior poster - maximize your pretax 401k at work, fund an IRA or a Roth.... that all helps. Withdraw more money during any of the years in the next 10 your income is lower..... It's workable.
+1

OP -- For 18 years, I used DW's Taxable Inheritance monies to fund her Roth each year.
by RetiredAL
Wed Mar 06, 2024 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Closed account, now can't get consolidated 1099
Replies: 20
Views: 2054

Re: Closed account, now can't get consolidated 1099

I an settling an Estate and have been closing brokerage accounts. When Schwab re-titled 2 accounts to EIN, all the electronic transaction history went poof, just the statements remained. To avoid this on other EIN accounts, I've left $50 in several accounts just to keep them open so I could access the on-line records as needed. Schwab did sent the 1099 stuff without any prompting from me.