Search found 680 matches

by Eagle33
Wed Jul 01, 2020 10:07 pm
Forum: Personal Investments
Topic: Quick IRA Question before tax deadline
Replies: 7
Views: 373

Re: Quick IRA Question before tax deadline

cresive wrote:
Wed Jul 01, 2020 8:54 am
Thanks for the great, albeit disappointing, information
You do not get any deduction when doing a direct Roth contribution. Why disappointed no deduction on a backdoor contribution?
by Eagle33
Tue Jun 30, 2020 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should we Switch from a Medicare Advantage Plan to a Nursing Home medical policy (not LTC insurance)
Replies: 15
Views: 936

Re: Should we Switch from a Medicare Advantage Plan to a Nursing Home medical policy (not LTC insurance)

Once Medicare Advantage is dropped in favor of Medicare, one cannot go back on Medicare Advantage. As a result, I want to make sure that I investigate this thoroughly. Are you certain about this? I thought a person could switch back to medicare advantage at the next annual open enrollment. That was...
by Eagle33
Tue Jun 30, 2020 10:07 pm
Forum: Investing - Theory, News & General
Topic: Retirement: Withdrawing from cash when do u replenish?
Replies: 37
Views: 2335

Re: Retirement: Withdrawing from cash when do u replenish?

read the rest of the article.......it talks about w/h from other types of income including SS. I did. Other Forms of Withholding – The same rules described above in regard to amounts withheld from payroll also apply to overpayments of Social Security taxes and to income taxes withheld from: supplem...
by Eagle33
Sun Jun 28, 2020 6:46 pm
Forum: Investing - Theory, News & General
Topic: Wiki - Dollar cost averaging: Disagreement with basic premise
Replies: 64
Views: 3131

Re: Wiki - Dollar cost averaging: Disagreement with basic premise

Adam Grossman wrote an article addressing DCA vs lump sum from a letter he received about too slow DCA. He is a DCA believer.
by Eagle33
Sat Jun 20, 2020 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Learning how to do your own taxes?
Replies: 48
Views: 2642

Re: Learning how to do your own taxes?

If you have Excel, download the Excel1040 spreadsheet. I've used this to confirm the last 2 years CPA generated returns so I became comfortable being able to my own. Also then created a spreadsheet with just the minimum tax form portions that are applicable to us so we can estimate quarterly taxes.
by Eagle33
Fri Jun 19, 2020 11:26 pm
Forum: Personal Investments
Topic: Help me understand taxes on old mutual fund sale
Replies: 7
Views: 510

Re: Help me understand taxes on old mutual fund sale

Does the "gains" you reinvested include any dividends the fund paid? If not, then reinvested dividends also should be included in your cost basis.
by Eagle33
Fri Jun 19, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Contributions Withdrawal
Replies: 18
Views: 793

Re: Roth Contributions Withdrawal

Can you clarify your emergency fund situation? One place you state tashnewbie, my emergency fund is currently only about $5k (goal is to get it up to $25k). and earlier stated I also have an emergency fund with a year of expenses, just in case. Are your annual expenses $5k or $25k? And do the expens...
by Eagle33
Thu Jun 18, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: 36 YO wife getting Medicare related Junk Mail
Replies: 20
Views: 1172

Re: 36 YO wife getting Medicare related Junk Mail

Does wife have a My Social Security account? If not, have her create one.
by Eagle33
Wed Jun 17, 2020 9:57 pm
Forum: Personal Investments
Topic: PAS advisor portfolio [Why did they setup my accounts like this?]
Replies: 186
Views: 8491

Re: PAS advisor portfolio

What is the proportional size of each of the 3 accounts (including 401k) - totaling 100%?
by Eagle33
Wed Jun 17, 2020 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Too Much Retirement/Not Enough for House?
Replies: 125
Views: 12290

Re: Too Much Retirement/Not Enough for House?

This sounds like OP wants to be the neighbor of "The Millionaire Next Door".
by Eagle33
Mon Jun 15, 2020 6:52 pm
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7140

Re: 63 and Could use some advice on portfolio

I am 63. I am trying to be reasonably aggressive since I do not have adequate amount for retirement any time soon. I am reinvesting all dividends and capital gains. Together with SS, I am hoping I will have a decent amount to retire, but not at all lavishly. My life expectancy is fairly low. If I c...
by Eagle33
Sun Jun 14, 2020 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Self Employed and IRA Contributions
Replies: 24
Views: 897

Re: Self Employed and IRA Contributions

If you have Excel, you can download Excel1040 spreadsheet for free.
by Eagle33
Sun Jun 14, 2020 1:55 am
Forum: Personal Finance (Not Investing)
Topic: Need advice on inherited IRA and tax impact
Replies: 22
Views: 924

Re: Need advice on inherited IRA and tax impact

My parents never made a whole lot and worked very hard and saved their entire lives for this money. It kills me to think of so much of it going to taxes. Sorry for your loss. This money while saved was not 100% your parent's money. A portion was tax that was deferred. You are just now trying to nav...
by Eagle33
Sun Jun 14, 2020 1:15 am
Forum: Personal Finance (Not Investing)
Topic: real estate agent commission dispute
Replies: 16
Views: 1459

Re: real estate agent commission dispute

Someone once said "A verbal agreement is not worth the paper it is written on."
by Eagle33
Sun Jun 14, 2020 12:39 am
Forum: Personal Investments
Topic: Make Non-Deductible Traditional IRA Contributions Near Retirement?
Replies: 14
Views: 832

Re: Make Non-Deductible Traditional IRA Contributions Near Retirement?

Do your 401ks accept rollovers from IRAs? If so, then rollover the pre-tax amount into the 401ks. Once the rollovers are complete, then you can convert the remaining non-deductible amount into Roth IRAs to zero out your IRA for next year backdoor Roth contribution.
by Eagle33
Sun Jun 14, 2020 12:30 am
Forum: Personal Investments
Topic: Roth IRA most aggressive fund
Replies: 26
Views: 1927

Re: Roth IRA most aggressive fund

I agree with 100% total stock. Why using Roth money for charities? There is something called a qualified charitable distribution (QCD) that applies to one's nonRoth IRAs. Starting at 70.5 you can give QCD to charities and it will not increase your income. If QCD is taken in year of a RMD the QCD cou...
by Eagle33
Sun Jun 14, 2020 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Buy TurboTax
Replies: 15
Views: 1151

Re: Buy TurboTax

You could download the free Excel1040 set of forms and see if all your 2019 tax forms are included in Excel1040. If yes, then start entering using your actual return as your source.
by Eagle33
Sat Jun 13, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: working longer for free health care? is it worth it?
Replies: 27
Views: 3746

Re: working longer for free health care? is it worth it?

The other responses have addressed the important item of medical coverage between retiring and 65 (Medicare starts). For a quick understanding of Medicare this link is to The Official US Government Medicare Handbook . You have a 5+ years to research future medical coverage and to get a basic underst...
by Eagle33
Fri Jun 12, 2020 10:21 pm
Forum: Personal Investments
Topic: Asset Allocation
Replies: 10
Views: 972

Re: Asset Allocation

We both have 401k's (I no longer contribute; she maxes), Roth's (I no longer contribute; she maxes) , taxable accounts (we both contribute with any extra money, although now that fixed options are so low we may pay towards/off the mortgage).  I also have a t-IRA that I max. Does she max both her an...
by Eagle33
Thu Jun 11, 2020 2:34 am
Forum: Personal Investments
Topic: When does an advisor make sense?
Replies: 56
Views: 2765

Re: When does an advisor make sense?

If you pay an advisor 1.5%, then you need a portfolio size of 40x annual retirement expenses. Or you can do it yourself with support from this forum and just need 25x annual retirement expenses. A book that may help with the big picture is How to Make Your Money Last: The Indispensable Retirement Gu...
by Eagle33
Thu Jun 11, 2020 1:57 am
Forum: Personal Investments
Topic: 45k job out of college and no expenses - please help me manage my money
Replies: 34
Views: 2335

Re: 45k job out of college and no expenses - please help me manage my money

Besides starting a budget (or spending plan as I prefer to call it) you should review your 2019 tax return to understand the various line items both ones you currently use and others that you may use in the future. I'm not sure what you mean. I'm pretty unfamiliar with taxes. Can you put this into ...
by Eagle33
Wed Jun 10, 2020 1:32 am
Forum: Personal Investments
Topic: Vanguard Rep Says No Dividends for VTSAX and VTIAX
Replies: 31
Views: 5906

Re: Vanguard Rep Says No Dividends for VTSAX and VTIAX

rossington wrote:
Tue Jun 09, 2020 7:59 pm
VTSAX pay date:6/25
VTIAX pay date:6/22
VG website link for Find out if your fund is declaring a dividend in June. List of funds and dates are found on the bottom of the page.
by Eagle33
Tue Jun 09, 2020 9:49 pm
Forum: Investing - Theory, News & General
Topic: New to the market, I only know bull...
Replies: 40
Views: 2282

Re: New to the market, I only know bull...

You have been trying to manage your return. Bogleheads accept market return and manage their portfolio's risk by rebalancing to their target AA.
by Eagle33
Tue Jun 09, 2020 2:37 am
Forum: Personal Investments
Topic: Request for help and guidance - lump sum or monthly pension - one of DH and one for DW
Replies: 18
Views: 905

Re: Request for help and guidance - lump sum or monthly pension - one of DH and one for DW

If you rollover the lump sums totaling ~$775k into your IRAs, you are increasing your current $2M by 39%. Seems to me that you are going against your desire of converting tax-deferred to tax-free Roths.
by Eagle33
Tue Jun 09, 2020 1:48 am
Forum: Personal Finance (Not Investing)
Topic: Timing of dependent child becoming independent?
Replies: 8
Views: 918

Re: Timing of dependent child becoming independent?

Have you tried the IRS Interactive Tax Assistant (ITA)?
Whom May I Claim as a Dependent?
by Eagle33
Sun Jun 07, 2020 3:20 pm
Forum: Personal Consumer Issues
Topic: Don't pay full price for SiriusXM radio
Replies: 299
Views: 39590

Re: Don't pay full price for SiriusXM radio

My first year subscription is up later this month, so I've got the dreaded phone call scheduled on the calendar. Do I understand correctly this can now be done on the internet but it's two-steps? First, cancel the existing subscription. Then go back in as a "returning subscriber" to sign up for the...
by Eagle33
Sun Jun 07, 2020 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Is SS factored into planning and saving for retirement?
Replies: 52
Views: 2756

Re: Is SS factored into planning and saving for retirement?

Saving for retirement used to be a 3-legged stool - 1/3 each SS/Medicare & pension & personal savings. Pension for most people is now gone so personal savings needs to be twice as large. We pay 7.65% for SS/Medicare, so one should be saving 15.3% for the personal savings portion of retirement.
by Eagle33
Sun Jun 07, 2020 11:12 am
Forum: Personal Investments
Topic: 45k job out of college and no expenses - please help me manage my money
Replies: 34
Views: 2335

Re: 45k job out of college and no expenses - please help me manage my money

Real Estate? Robinhood? Bonds? Anything I'm missing here? Anything I should I know about taxes? Thank you all. I will answer any questions and probably respond to all your comments with furthur questions. Congrats on a great beginning One thing í will suggest, is start using a budget. I know you do...
by Eagle33
Sun Jun 07, 2020 11:09 am
Forum: Personal Investments
Topic: 45k job out of college and no expenses - please help me manage my money
Replies: 34
Views: 2335

Re: 45k job out of college and no expenses - please help me manage my money

I was you two years ago. The biggest thing is to learn. I'd see what's available at your local library and dig in. Once you have a better foundation you'll know what questions to ask. Also, if you don't have a library card get one! I can't believe how much money I've wasted on books I read once and...
by Eagle33
Sun Jun 07, 2020 10:49 am
Forum: Investing - Theory, News & General
Topic: June 2020 Distributions
Replies: 7
Views: 1074

Re: June 2020 Distributions

BruinBones wrote:
Sat Jun 06, 2020 11:29 am
House Blend wrote:
Sat Jun 06, 2020 9:00 am
For Vanguard mutual funds, all the dates are here:
https://advisors.vanguard.com/insights/ ... tributions
Thanks for helpful link to their distribution Table.
Yes, thank you very much for this Vanguard 2020 schedule of dividend distributions.
by Eagle33
Sun Jun 07, 2020 10:28 am
Forum: Personal Investments
Topic: Settlement Account?
Replies: 2
Views: 338

Re: Settlement Account?

I am assuming you currently have an existing Vanguard account with that contains the Prime MM fund. If this account does not have a settlement fund, then it is the older mutual fund only style account. This account can be used to purchase any of the VG mutual funds. However, as I understand it, you ...
by Eagle33
Sat Jun 06, 2020 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone get their 5498 for tax year 2019
Replies: 9
Views: 626

Re: anyone get their 5498 for tax year 2019

My guess is mid August, since VG in the past provided 1-month past tax filing deadline.
by Eagle33
Sat Jun 06, 2020 4:55 pm
Forum: Personal Investments
Topic: Personal Advisory Services fpr Surviving Spouse-Good Idea?
Replies: 14
Views: 1251

Re: Personal Advisory Services fpr Surviving Spouse-Good Idea?

As I am not in good health, I need to think about the management of out investment portfolio for the future without me. I am 65 and my wife is 67. We have assets with Vanguard of about 800K ( all IRA'a) as well as 200K in a TIAA-CREF 403B. She does not have a great interest in managing our money, a...
by Eagle33
Fri Jun 05, 2020 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes? Legal Issues? Grandmother sent large check to Cousin she's estranged from
Replies: 59
Views: 3295

Re: Grandmother sent large check to Cousin she's estranged from

Cash the check.

It sounds as if Grandma is the matriarch of the family and is probably just trying to prevent public embarrassment of the family name.
by Eagle33
Fri Jun 05, 2020 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Rule of 55 question
Replies: 32
Views: 2609

Re: Rule of 55 question

I rolled over old 401k money to my current employer plan just so I can have the rule of 55 apply (latest employer plan but source of funds does not matter). When I hit 60 will roll to Vanguard IRA for more investment flexibility, assuming I am retired by then (which I do plan to do). Maybe your cur...
by Eagle33
Fri Jun 05, 2020 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: is retroactive health insurance ok?
Replies: 5
Views: 561

Re: is retroactive health insurance ok?

If you paid the premium that covers everybody, then you should be okay.
by Eagle33
Fri Jun 05, 2020 8:13 pm
Forum: Investing - Theory, News & General
Topic: Markets back near all time highs - how are you feeling and path forward ?
Replies: 238
Views: 20668

Re: Markets back near all time highs - how are you feeling and path forward ?

skor99 wrote:
Fri Jun 05, 2020 7:34 pm
And before you know it , market is back up to levels that bewilder the mind.
"Nobody knows nothing."
by Eagle33
Fri Jun 05, 2020 7:47 pm
Forum: Personal Investments
Topic: Zero Balance Accounts
Replies: 6
Views: 916

Re: Zero Balance Accounts

A zero balance account is an arrangement where your daily checking account starts at zero every day. The bank will let you cash checks, deposit funds, make debit card transactions, etc throughout the day and then at the end of the business day will sweep money to or from a linked investment or mone...
by Eagle33
Fri Jun 05, 2020 2:45 am
Forum: Personal Finance (Not Investing)
Topic: Need to Pay Estimated Taxes for Social Security?
Replies: 10
Views: 741

Re: Need to Pay Estimated Taxes for Social Security?

Are you sure you calculated the taxable SS correctly? Here is a SS tax calculator to double check.
by Eagle33
Fri Jun 05, 2020 1:43 am
Forum: Personal Investments
Topic: Vanguard Prime Money Market vs. Short Term Federal Bond Fund
Replies: 11
Views: 1754

Re: Vanguard Prime Money Market vs. Short Term Federal Bond Fund

About how old is she? RMDs start next year (I think - new legislation may have delayed it though), though it won’t really matter as the IRA will be most drained by then as we harvest it to taxable each year with the head room available for $0 tax due. If she turns 72 next year she will need to star...
by Eagle33
Thu Jun 04, 2020 7:34 pm
Forum: Personal Investments
Topic: Where to invest 10K for the next 18 to 24 months?
Replies: 4
Views: 584

Re: Where to invest 10K for the next 18 to 24 months?

OP, I agree with fabdog, cash instrument for 0-2 years. Some on the forum will say cash for 0-5 years. Depends on the combination of your risk capacity (time until you need the $) and your risk tolerance (your ability to handle volatility). So a better to question to ask yourself is "How much am I w...
by Eagle33
Wed Jun 03, 2020 7:14 pm
Forum: Personal Investments
Topic: 401k and laid off
Replies: 9
Views: 1414

Re: 401k and laid off

Hi lakpr, Yes I have been at the same job :-). Thank you for taking time to answer my question. I don't plan to roll over and plan to increase contribution on the next 4 pay checks. However, I also already maxed out Roth IRA for 2020 so my concern is my MAGI could be not enough to fund full Roth IR...
by Eagle33
Mon Jun 01, 2020 1:17 am
Forum: Personal Investments
Topic: Rescheduling a 2020 Retirement Date?
Replies: 17
Views: 1828

Re: Rescheduling a 2020 Retirement Date?

I appreciate the frankness, truly I do. I suppose that working a little longer provides a bit of security in case a second wave of the virus occurs and the markets crash again and crash even further - I suppose to articulate it more clearly - the fear is retiring and THEN there is another huge econ...
by Eagle33
Mon Jun 01, 2020 12:53 am
Forum: Investing - Theory, News & General
Topic: Which portfolio allocation is the right one for you?
Replies: 6
Views: 986

Re: Which portfolio allocation is the right one for you?

If half the time I wish I had more stock and the other half of the time I wish I had more bonds, then I know I have the correct AA for me. I then just rebalance when AA exceeds 5/25 bands.
by Eagle33
Sat May 30, 2020 6:36 pm
Forum: Non-US Investing
Topic: choices to make by retiring
Replies: 14
Views: 2279

Re: choices to make by retiring

2. If you are concerned that taxes may go up in the future, consider doing some Roth conversions before age 72.5 (the new age when RMDs must be taken). By the way, this is another reason for you to delay taking SS until age 70. RMDs require taking about 4% a year out of your 401ks and IRAs. If you ...
by Eagle33
Sat May 30, 2020 4:05 pm
Forum: Personal Investments
Topic: Vanguard Personal Advisor vs. Local Advisor
Replies: 23
Views: 1930

Re: Vanguard Personal Advisor vs. Local Advisor

Not sure how an hourly advisor will help with your biggest issue - yourself panicking & selling low. VPAS make the actual changes in your accounts based on joint discussions, and also will auto rebalance to your agreed upon AA. Or you can try an advisor live Planvision for $149 the first year and $9...
by Eagle33
Sat May 30, 2020 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Any way to gift a tax-deferred account with same tax treatment as TOD?
Replies: 7
Views: 604

Re: Any way to gift a tax-deferred account with same tax treatment as TOD?

For taxable accounts, it seems that as long as the total amount is well below the lifetime exclusion, it could be given before or after death with no major difference in the taxation. FYI: taxable account transferred prior to death will carry the same cost basis as the original owner. TOD of taxabl...
by Eagle33
Fri May 29, 2020 9:17 pm
Forum: Personal Investments
Topic: How many funds are TOO many funds & is it a good idea to invest in a newly reopened fund?
Replies: 15
Views: 1148

Re: How many funds are TOO many funds & is it a good idea to invest in a newly reopened fund?

Zillions, you may want to refresh your memory concerning the Bogleheads Investment Philosophy. Specifically the following items:
4. Diversify
6. Use index funds when possible
7. Keep costs low
9. Invest with simplicity
Emphasis on the last item.