Search found 202 matches

by TG2
Fri Feb 21, 2020 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Our 'cure' for emergency expenses
Replies: 147
Views: 22553

Re: Our 'cure' for emergency expenses

willthrill81 wrote: Sun Jan 05, 2020 6:04 pm But then again, most books can be effectively summarized very quickly. So can movies. For Titanic, we could say "It sank."
Come on, man! Seriously?? You couldn't put "Spoiler Alert" first, or something?
by TG2
Sun Feb 16, 2020 9:55 pm
Forum: Investing - Theory, News & General
Topic: At what age did you begin adding bonds?
Replies: 138
Views: 7689

Re: At what age did you begin adding bonds?

At what age did you begin adding bonds? Well, let's see. I'm 60 now, retired for over two years.... Ummm, never yet. My investments are essentially 99.9% stocks, 0 bonds. It may change at some point, but I just don't see it yet. I did try to do bonds when I rolled over my 401k, but just couldn't.
by TG2
Wed Feb 05, 2020 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: SS and deceased spouse
Replies: 8
Views: 1255

Re: SS and deceased spouse

My father is 66 (FRA) and was born in 1953. My mother just recently passed away and was age 62. I'm so sorry for your loss. My mother had a stronger SS earnings record. If my father continues to work and delay his own benefit until age 70 it would only approximately match what the spousal benefit w...
by TG2
Mon Feb 03, 2020 12:12 am
Forum: Personal Finance (Not Investing)
Topic: SECURE Act and existing inherited IRA (spouse) question
Replies: 2
Views: 356

Re: SECURE Act and existing inherited IRA (spouse) question

Thank you, Alan. Given that I have read you before and have always appreciated your knowledge and expertise, I was hoping you would reply. Yes, if the new rules apply to the inherited IRA then they would have both turned 72 in the same year. Electing ownership now and transferring it into her existi...
by TG2
Sun Feb 02, 2020 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: SECURE Act and existing inherited IRA (spouse) question
Replies: 2
Views: 356

SECURE Act and existing inherited IRA (spouse) question

I am trying to help a friend understand the implications of the new rules, and am hoping for clarification. Here is the situation: She was widowed several years ago. At that time, she elected to treat her husband's IRA as inherited rather than roll it into her own smaller one. Because she was born i...
by TG2
Fri Aug 16, 2019 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Incorrect Social Security Benefit Amount?
Replies: 3
Views: 590

Re: Incorrect Social Security Benefit Amount?

Survivor's benefits now at 60. Switch to my own benefit at 70. I cannot file for my own benefit anyway because I have not reached 62 so my PIA should be irrelevant at this point. And no, there is no deemed filing requirement for survivor benefits even if I were older. I can take either one alone and...
by TG2
Fri Aug 16, 2019 4:10 am
Forum: Personal Finance (Not Investing)
Topic: Incorrect Social Security Benefit Amount?
Replies: 3
Views: 590

Incorrect Social Security Benefit Amount?

Is there a chance that SS personnel get benefit amounts wrong? My former wife died last year at 61. She had cancer but I don't think she was receiving disability benefits, and obviously was not receiving retirement benefits yet. I went into a local office to make sure what my options were. I receive...
by TG2
Fri Aug 16, 2019 2:55 am
Forum: Personal Finance (Not Investing)
Topic: When to move into retirement
Replies: 72
Views: 6142

Re: When to move into retirement

There is always uncertainty in the world. Many get caught up with One More Year for such concerns. And hence my dilemma. I have for the best part of 35 years been used to saving money, not spending it, so to move into a "spend mode" is challenging, but then I offset that with x years of m...
by TG2
Wed Jul 24, 2019 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: How do you deal with looking bad compared to others?
Replies: 77
Views: 5761

Re: How do you deal with looking bad compared to others?

I would suggest that your wife and kids should already know what your values are, and that you do not prioritize superficial things. As for extended family members, who cares? They apparently don't know you, and don't seem the type where it creates value for you to know them. When they comment, just...
by TG2
Wed Jul 24, 2019 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: If you are already retired.. is this true?
Replies: 49
Views: 6501

Re: If you are already retired.. is this true?

This article is a few months old, but curious if people who are already retired can vouch for this (or contradict). https://www.marketwatch.com/story/the-right-retirement-formula-is-based-on-the-value-of-your-home-2019-03-20 The gist of it is, your nest egg number should be: (home value * .3) / .04...
by TG2
Sun May 06, 2018 2:39 am
Forum: Personal Finance (Not Investing)
Topic: Chase Private Client Services?
Replies: 6
Views: 3019

Re: Chase Private Client Services?

I considered Chase Private Client Services this year when I was applying for a HELOC. It would have required my moving funds from a self-managed, traditional IRA to a managed account at Chase. I prefer to manage my own accounts. While Chase offered that they would be able to set up a self-managed a...
by TG2
Tue May 01, 2018 11:29 pm
Forum: Personal Investments
Topic: Berkshire Hathaway B
Replies: 65
Views: 9265

Re: Berkshire Hathaway B

I bought 100 back in November. It is up about $11/share since then, but that is still down 22 from its high in January. Believe me, I loved seeing it up 18% in about 2.5 months. My only regret was that I had originally planned to buy 200.
by TG2
Sat Apr 07, 2018 4:24 pm
Forum: Personal Investments
Topic: Help needed before I go mad :D
Replies: 53
Views: 6367

Re: Help needed before I go mad :D

Hopefully one day I will be good at stock picking, but for now I am much more comfortable this way. There really is no need to "be good at stock picking." For years I had looked into individual stocks, but never managed to pull the trigger. Some would have done wonderfully for me, and I c...
by TG2
Fri Apr 06, 2018 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 13746

Re: How Do You Value Your Home for Net Worth Purposes?

Unless I am misunderstanding an awful lot, I find your examples and your way of thinking about this both bizarre and almost horrifying. It is not your net worth that defines financial independence, but your financial assets. Your example would suggest that someone with a paid-off million-dollar hom...
by TG2
Wed Apr 04, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 13746

Re: How Do You Value Your Home for Net Worth Purposes?

You can account for your home as a consumable (not part of net worth) or an investment asset (part of net worth). What's important is that you stick with one of the two designations when determining your A) net worth and B) spending, in order to determine C) your FI number (based on the SWR of your...
by TG2
Wed Apr 04, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 13746

Re: How Do You Value Your Home for Net Worth Purposes?

I include home value in my net worth. I use a conservative value and also subtract 6% for my cost to sell it. And I put my mortgage loan balance in my liability section. I for one, think that net worth is the most important financial measurement that I track. It is the purest measurement of my fina...
by TG2
Wed Mar 28, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 13746

Re: How Do You Value Your Home for Net Worth Purposes?

I am another one who almost never bothers with a net worth calculation. I never need or use it for anything other than entertainment. The number that is relevant to me is "financial assets." That is what I make plans from and what will determine the rest of my life. That being said, I do i...
by TG2
Sun Mar 18, 2018 8:54 pm
Forum: Personal Investments
Topic: How best to use carryover capital losses?
Replies: 26
Views: 2577

Re: How best to use carryover capital losses?

Hi, and thanks to everyone who contributes to this board. I've learned more here than in many financial books I've read! I have an unexpected carryover loss of about $37k. I'm mid-50s, semi-retired, and mostly living off my savings except for tiny self-employment income. My taxable $$ is in interes...
by TG2
Sun Mar 18, 2018 8:45 pm
Forum: Personal Investments
Topic: 401K rollover to IRA or Roth IRA?
Replies: 15
Views: 1658

Re: 401K rollover to IRA or Roth IRA?

Just to confirm though, you know that you don't need to roll the 401k into an IRA, right? There are often good reasons for leaving the money in a 401k rather than rolling to an IRA. True. One reason I did not see on this thread is dependent on when one leaves the job. If the person leaves after the...
by TG2
Sun Mar 18, 2018 8:35 pm
Forum: Personal Investments
Topic: Morningstar Performance Data
Replies: 9
Views: 1206

Re: Morningstar Performance Data

I created the portfolio now to look back to compare. At first I just added the symbols and percentages of each. I didn't add number of shares. I was under the impression that Morningstar would look at the growth of each fund for the year, regardless of how many shares or my cost basis. I am not cer...
by TG2
Sun Mar 18, 2018 7:38 pm
Forum: Personal Investments
Topic: Morningstar Performance Data
Replies: 9
Views: 1206

Re: Morningstar Performance Data

I created a 'portfolio' in Morningstar and added the fund symbols, percentage each holds in my actual portfolio, and the number of shares I currently have. When I run performance on it, annual performance for 2017 is 11.82 whereas my actual statement shows 16.51. My advisor fees for 2017 were 5% of...
by TG2
Fri Mar 16, 2018 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Plan- input and comments
Replies: 8
Views: 862

Re: Roth Conversion Plan- input and comments

Thank you all for the input, so far. Glad to see there are no real negatives to my plan. TG2, I may max the bracket quicker than I let on but want to be sure I can cover taxes due. Plus I'm just getting started at this retirement thing, well the spending anyway :happy , so I'm willing to take it sl...
by TG2
Thu Mar 15, 2018 7:34 pm
Forum: Personal Investments
Topic: Dave Ramsey on Bonds
Replies: 107
Views: 11747

Re: Dave Ramsey on Bonds

To summarize every DR thread on BH no matter the starting topic: BH think DR is stupid and his advice is stupid. DR also thinks BHs are stupid (one podcast he really ranted against the people who only focus on fund expenses and index funds in general). BH think they are too sophisticated for DR adv...
by TG2
Thu Mar 15, 2018 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Plan- input and comments
Replies: 8
Views: 862

Re: Roth Conversion Plan- input and comments

If your pension income is going to keep you in the 12% bracket going forward anyway, why not convert up to the limit of that bracket now? You will likely never have a lower bracket available, right?
by TG2
Thu Mar 15, 2018 4:27 am
Forum: Personal Investments
Topic: Review of my full portfolio - am I on the right track?
Replies: 14
Views: 1775

Re: Review of my full portfolio - am I on the right track?

It is not concrete math and "seems" to be based on "feelings" because "risk tolerance and sleep factor" is about feelings. But, even that is quantifiable to a large extent. If the market feel deeply and for who knows how long, would you be prepared to lost 50% or more ...
by TG2
Thu Mar 15, 2018 4:06 am
Forum: Personal Finance (Not Investing)
Topic: Credit score dropped 30 points because I paid off my auto loan?
Replies: 49
Views: 12079

Re: Credit score dropped 30 points because I paid off my auto loan?

My score is over 800. One of the things they tell me is that it would be higher if I had more accounts. Mortgages have long been paid off. One or two cards closed by request. Two current cards. I use one and pay the balance every month. I got an email last month that the other one will be closed nex...
by TG2
Wed Mar 14, 2018 8:40 pm
Forum: Personal Investments
Topic: Review of my full portfolio - am I on the right track?
Replies: 14
Views: 1775

Re: Review of my full portfolio - am I on the right track?

Thank you for that input ^ do others here really agree that at age 30 I should really have 40% in bonds? Also, outside of increasing my bond allocation, how does everything else look? I certainly don't agree. Holding or not holding bonds is something everyone needs to decide for themselves after ta...
by TG2
Wed Mar 14, 2018 8:29 pm
Forum: Personal Investments
Topic: Dave Ramsey on Bonds
Replies: 107
Views: 11747

Re: Dave Ramsey on Bonds

To summarize every DR thread on BH no matter the starting topic: BH think DR is stupid and his advice is stupid. DR also thinks BHs are stupid (one podcast he really ranted against the people who only focus on fund expenses and index funds in general). BH think they are too sophisticated for DR adv...
by TG2
Mon Mar 12, 2018 5:51 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1503
Views: 178604

Re: What frugal thing did you do today?

I wouldn't consider the extra long shower "frugal", perhaps "wasteful." Long showers are fantastic! A long shower for me is typically about one hour. Very relaxing. And cheap too- the cost of the water and gas to heat the water is small relative to the enjoyment. Certainly not w...
by TG2
Sat Mar 10, 2018 1:37 pm
Forum: Personal Investments
Topic: Are Bonds Bad Right Now?
Replies: 23
Views: 3263

Re: Are Bonds Bad Right Now?

For any particular individual it is a question of judgement and preference applied to your objectives. There are not very many people on this board who are near retirement and would be invested 100% in stocks. It may be more than you think, although this board does tend to run conservative. Wasn't ...
by TG2
Sat Mar 10, 2018 1:05 pm
Forum: Personal Investments
Topic: Roth Conversion Push with Tax Law Changes (Money Mag Article)
Replies: 23
Views: 4297

Re: Roth Conversion Push with Tax Law Changes (Money Mag Article)

I can't think of a better way to initiate my participation with Bogleheads.org than to thank @celia for the helpful, informative post. It's always a pleasure to recognize experienced writers when their common sense advice shines through. Ditto TG2. My own parents are 77, long retired, taking RMD's ...
by TG2
Thu Mar 08, 2018 11:32 pm
Forum: Personal Investments
Topic: Chase Self Directed Brokerage for non-retirement accounts
Replies: 20
Views: 5502

Re: Chase Self Directed Brokerage for non-retirement accounts

I have a Chase self-directed IRA and I just called them and they said that Vanguard admiral shares are not available for self-directed accounts. I asked why, and he just said that the list of available funds sometimes changes, but I was not really convinced. Can anyone confirm if Admiral funds can ...
by TG2
Wed Mar 07, 2018 7:12 pm
Forum: Personal Investments
Topic: Index ETF vs. Index mutual fund in taxable account
Replies: 26
Views: 8292

Re: Index ETF vs. Index mutual fund in taxable account

So when Jack Bogle says he dislikes ETFs, he's not referring to ETFs that follow broad indexes like VTI or VXUS or VWO, right? From what I gather, he dislikes ETFs only because the mere fact that they can be traded during the day might encourage short term trading. And the fact that there are now m...
by TG2
Wed Mar 07, 2018 3:53 pm
Forum: Personal Investments
Topic: I want to retire
Replies: 28
Views: 5620

Re: I want to retire

It is certainly doable, but I don't think I would be terribly confident. For me it would boil down to whether you can be flexible with the $85-100,000 or not. I'd have no problem saying "Go for it!" with a $60-75,000 number which would allow you to bump up if you felt able to do that. And ...
by TG2
Mon Mar 05, 2018 10:40 am
Forum: Personal Investments
Topic: 401K contributions (percentage sounds high)
Replies: 24
Views: 3028

Re: 401K contributions (percentage sounds high)

Make sure you check contribution limits imposed by your employer plans. I would be surprised if they allowed a contribution rate over 30%. In my experience the maximum contribution rate is somewhere in the mid-20 percentile. Note this limit has nothing to do with government regulations - it is in t...
by TG2
Sun Mar 04, 2018 9:19 pm
Forum: Personal Investments
Topic: Roth IRA and contribution deadline question
Replies: 12
Views: 1300

Re: Roth IRA and contribution deadline question

I'd like to piggyback off of this question (been following the forums for a couple weeks now, this is my first engagement). Let's say I contribute the entire $5500 today for the 2017 Roth IRA deadline. Tomorrow can I begin my contributions for 2018, or should I wait until after 4/15? Whenever you w...
by TG2
Tue Feb 27, 2018 6:45 am
Forum: Personal Investments
Topic: In mid 20s and just opened a Roth IRA with 401k. What should I do
Replies: 22
Views: 2290

Re: In mid 20s and just opened a Roth IRA with 401k. What should I do

One more voice for the, "Enough in the 401k to get all of the employer match, and then as much as you can into the Roth IRA." Always, always, ALWAYS get as much of the employer match as you can, even if the 401k plan itself is not very good. It is free money, and guaranteed return. After t...
by TG2
Sun Feb 25, 2018 1:57 pm
Forum: Personal Investments
Topic: Roth Conversion Push with Tax Law Changes (Money Mag Article)
Replies: 23
Views: 4297

Re: Roth Conversion Push with Tax Law Changes (Money Mag Article)

It makes zero sense to convert $1,000,000 and pay $370,000 tax. It probably makes perfect sense to convert up to the top of a lower bracket. The 22% bracket tops out at $165,000 and the 24% bracket tops out at $315,000. Instead of doing it all at once they would do partial conversions each year, wh...
by TG2
Sun Feb 25, 2018 2:48 am
Forum: Personal Investments
Topic: TIPS vs Bonds again!
Replies: 13
Views: 5293

Re: TIPS vs Bonds again!

I would never suggest I was ahead of the Oracle of Omaha but........his recent newsletter after my original post : "It is a terrible mistake for investors with long-term horizons ... to measure their investment 'risk' by their portfolio's ratio of bonds to stocks," Buffett wrote in the Fe...
by TG2
Sun Feb 25, 2018 12:28 am
Forum: Personal Investments
Topic: Roth Conversion Push with Tax Law Changes (Money Mag Article)
Replies: 23
Views: 4297

Re: Roth Conversion Push with Tax Law Changes (Money Mag Article)

It makes zero sense to convert $1,000,000 and pay $370,000 tax. It probably makes perfect sense to convert up to the top of a lower bracket. The 22% bracket tops out at $165,000 and the 24% bracket tops out at $315,000. Instead of doing it all at once they would do partial conversions each year, whi...
by TG2
Fri Feb 23, 2018 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 10803

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

You would be surprised. 50% of all medical costs are attributed to people with chronic conditions. I don't know how many people that translates to that receive more in claims than they pay in premium + OOP year after year, but it has to be quite significant, certainly in the millions. Following the...
by TG2
Thu Feb 22, 2018 3:06 am
Forum: Personal Investments
Topic: Morningstar's Holding Style: Good enough to base allocations??
Replies: 12
Views: 835

Re: Morningstar's Holding Style: Good enough to base allocations??

Good question - I am holding Fidelity's Total Market Index Fund (FSTVX) as the US Equity part of my portfolio and it is market weighted as well. It has had a great run recently so no complaints but it sure doesn't feel fully diversified. Effectively it is just like holding an S&P500 fund My tar...
by TG2
Thu Feb 22, 2018 3:01 am
Forum: Personal Investments
Topic: Morningstar's Holding Style: Good enough to base allocations??
Replies: 12
Views: 835

Re: Morningstar's Holding Style: Good enough to base allocations??

I am new to this... Yes, which is exactly why you should not try to overthink it. I would suggest sticking with broad-based index funds such as a total stock market or S&P 500 fund and an international fund too if you want. (Also, I don't hold bonds at all, but you may want to.) Those will form...
by TG2
Wed Feb 21, 2018 2:27 am
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 10803

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

Maybe you could contribute to an IRA or other last minute changes that would lower your AGI for last year Would it be possible to contribute $5500 (i think this is the annual maximum) for DW and $5500 for myself which would lower the AGI $11000 which might help me squeak by under that ACA limit? Wo...
by TG2
Wed Feb 21, 2018 2:05 am
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 10803

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

Maybe you could contribute to an IRA or other last minute changes that would lower your AGI for last year Would it be possible to contribute $5500 (i think this is the annual maximum) for DW and $5500 for myself which would lower the AGI $11000 which might help me squeak by under that ACA limit? Wo...
by TG2
Wed Feb 21, 2018 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 10803

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

Maybe you could contribute to an IRA or other last minute changes that would lower your AGI for last year Would it be possible to contribute $5500 (i think this is the annual maximum) for DW and $5500 for myself which would lower the AGI $11000 which might help me squeak by under that ACA limit? Wo...
by TG2
Tue Feb 20, 2018 2:54 pm
Forum: Personal Investments
Topic: Tapping 401(k) Assets Prior to Age 59 1/2
Replies: 12
Views: 1479

Re: Tapping 401(k) Assets Prior to Age 59 1/2

I retired a few months ago at 58. I did not have the option of leaving my 401k money in the plan, so did the rollover and am now doing conversions. I had enough cash to live on for a year and a half until I hit 59.5 so I won't have to pull from my Roth or sell taxable investments. Far simpler and b...
by TG2
Mon Feb 19, 2018 3:05 pm
Forum: Personal Investments
Topic: Tapping 401(k) Assets Prior to Age 59 1/2
Replies: 12
Views: 1479

Re: Tapping 401(k) Assets Prior to Age 59 1/2

If it were me the last option I would choose is the 72(t). It is too restrictive and too easy to screw up for me to want to use it. First choice would be to see if your 401k allows partial distributions. If they do, then use the after-55 rule to take money out as needed. If it doesn't, then roll it ...
by TG2
Sun Feb 18, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: What has been your most important skill in achieving financial independence?
Replies: 164
Views: 14221

Re: What has been your most important skill in achieving financial independence?

The only real skill involved for me was the ability to think logically and rationally rather than emotionally. That does a lot to enable and instill discipline. I had an interest in money early on so was able to amass a certain amount of financial knowledge and understanding, and I always had a save...
by TG2
Fri Feb 16, 2018 6:44 pm
Forum: Personal Investments
Topic: Requesting portfolio/investment advice
Replies: 25
Views: 3425

Re: Requesting portfolio/investment advice

With regard to the Chase Private Client thing that several have talked about, it doesn't necessarily have to cost you anything. You need to have a combined $250,000 with them across all accounts, but there is no need to invest in their products or managed accounts. The Self-Directed Brokerage accoun...