Search found 35 matches

by Crazylegs
Sun Jan 13, 2019 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Account Consolidation
Replies: 3
Views: 281

Re: Retirement Account Consolidation

Some states provide income tax benefits or exemptions for retirement income from employer plans. As long as you don't live in one of those states, or end up moving to one of those states, it's fine to consolidate. I live in Pennsylvania and to the best of my knowledge there is no additional tax ben...
by Crazylegs
Sun Jan 13, 2019 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Account Consolidation
Replies: 3
Views: 281

Retirement Account Consolidation

My wife and I are currently retired and both are 58 y/o. We are currently living fairly comfortable on my pension and do not anticipate withdrawing funds from any retirement accounts for another year or two at least. We have the following retirement accounts: 457b (governmental) Empower $285K Rollov...
by Crazylegs
Sat Dec 15, 2018 10:10 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3526
Views: 1034423

Re: What Book Are You Currently Reading? Part VI

1984 and Animal Farm
by Crazylegs
Thu Dec 13, 2018 8:27 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

If I were to open a ROTH IRA at say Vanguard today, could I fund say $1000 from savings today to establish the ROTH and begin the clock, and then convert some each year after? I have a couple thousand in part time income that could justify the R-IRA for 2018. This way I’m not trying to get all the ...
by Crazylegs
Wed Dec 12, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

I will now plan to open a ROTH IRA in my name at Vanguard (my intended plan) before the end of 2018 and fund it from some taxable savings. Not familiar with the new brokerage set up, but I think this can be done with a few clicks of the mouse 24 hours a day. Then link your savings or checking accou...
by Crazylegs
Wed Dec 12, 2018 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

You didn't ask about this, so please forgive me if I'm being impertinent, but it may be advantageous for your wife to start SS at age 62, since you are waiting to 70. If you haven't looked into that, I encourage you to do so. Maybe you already have. I have looked into that using the prescribed webs...
by Crazylegs
Wed Dec 12, 2018 11:17 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

Thank you for the clarification, I figured the accounts would be treated as to the individual. But understand that the recommendation to convert hers is still a viable choice and easily accomplished. I will now plan to open a ROTH IRA in my name at Vanguard (my intended plan) before the end of 2018 ...
by Crazylegs
Wed Dec 12, 2018 10:04 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

If I were to open a ROTH IRA at say Vanguard today, could I fund say $1000 from savings today to establish the ROTH and begin the clock, and then convert some each year after? I have a couple thousand in part time income that could justify the R-IRA for 2018. This way I’m not trying to get all the ...
by Crazylegs
Wed Dec 12, 2018 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

With that said, I am considering and would like feed back on beginning ROTH conversions next year that would fill the 12% tax bracket. Funds to pay the taxes are available in a savings account. I feel that between now and 2025, for sure, that I will be able to make some annual conversions with no p...
by Crazylegs
Tue Dec 11, 2018 11:08 pm
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Re: Review and Question regarding ROTH Conversion

You can mirror your AA within your accounts and still simplify. His 457b -- 56% 25% Schwab Total Stock Market Index Fund (SWTSX) (0.03%) 6% Intl Stock Index Fund (.02% + .07% = .09%) 25% Schwab U.S. Aggregate Bond Index Fund (SWAGX) (0.04%) His Rollover IRA -- 42% 17% Schwab Total Stock Market Inde...
by Crazylegs
Tue Dec 11, 2018 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: Review and Question regarding ROTH Conversion
Replies: 19
Views: 1084

Review and Question regarding ROTH Conversion

After questionable advice from a financial adviser I decided to manage my retirement investments myself with much insight from this board. I am working to consolidate down to 3-4 fund portfolio. I realize that the overall portfolio asset allocation should be across all accounts, but for the time bei...
by Crazylegs
Fri Apr 06, 2018 8:17 am
Forum: Investing - Theory, News & General
Topic: Bogle on stock turbulence: ‘never seen a market this volatile to this extent in my career’
Replies: 88
Views: 13940

Re: Mr. Bogle on recent volatility

When hearing Mr. Bogle's comments I began wondering how much of the volatility is from new and inexperienced investors jumping in and out of the market more than ever before. With the influx of new retirement plan investors, more In the past 6-7 years than ever, and the lack of knowledge of long ter...
by Crazylegs
Wed Apr 04, 2018 11:37 am
Forum: Investing - Theory, News & General
Topic: Random Walk on Sale
Replies: 14
Views: 2691

Re: Random Walk on Sale

Just went to iTunes and I guess the sale is over, $15.99
by Crazylegs
Sun Mar 25, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Paying estimated federal tax on a Roth conversion
Replies: 4
Views: 655

Paying estimated federal tax on a Roth conversion

If I were to convert $10K effective July 1, 2018 and I anticipate being in the 12% tax bracket, I believe I would need to make an estimated tax payment of $600 by Sept 15, 2018 and again by January 15, 2019. Is this correct? Or would I be able to wait and make a $1200 payment by January 15, 2019? I ...
by Crazylegs
Fri Mar 16, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Plan- input and comments
Replies: 8
Views: 799

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 slo...
by Crazylegs
Thu Mar 15, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Plan- input and comments
Replies: 8
Views: 799

Re: Roth Conversion Plan- input and comments

Health insurance is purchased through the State employees benefits plan as a retiree.
by Crazylegs
Thu Mar 15, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Plan- input and comments
Replies: 8
Views: 799

Roth Conversion Plan- input and comments

I am looking to begin $10k per year partial conversions to a Roth IRA from my 457 Def Comp account. Primary reasons are: to pay tax at current low rate, avoid future RMDs, leave balance, if any, to heirs tax free. Ages: Both 57 y/o Pension: $63k per year gross 2017 AGI: $66k, Taxable income: $45k Es...
by Crazylegs
Sat Mar 10, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes on Roth conversion
Replies: 6
Views: 832

Re: Taxes on Roth conversion

So sorry this should have read 12%. Making the tax due on the RO as $1200. This now pushes the guesstamated taxes due to around $800 or more. Too close to the $1000 limit for the underpayment penalty. I would have caught this when doing the calculations but was more trying to layout the concept in m...
by Crazylegs
Sat Mar 10, 2018 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Roth conversion
Replies: 6
Views: 832

Taxes on Roth conversion

I realize this is very basic info, but just wanted to throw it out for thoughts/comments: I intend to begin converting $10K per year from my Defferred Comp account to a Roth account. Based on current pension income I should remain I the 10% tax bracket. Due to being a public service officer I can de...
by Crazylegs
Thu Mar 08, 2018 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Roth multi-year conversion plan: inputs requested
Replies: 25
Views: 2858

Re: Roth multi-year conversion plan: inputs requested

I too am considering multi-year conversions. Tax situations slightly different but many of the same rationale in regard to paying taxes at the current low bracket and filling that bracket. My additional thoughts are the tax free benefits for my heirs, if we don't spend it all...lol, and the benefit ...
by Crazylegs
Sat Mar 03, 2018 9:34 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversion 5 year hold
Replies: 10
Views: 1739

Re: Roth conversion 5 year hold

I think where you are getting confused is not realizing there are two different 5 year clocks. One is tied to the Roth IRA itself. The other is tied to each Roth conversion. If the Roth is 5 years old and you are over 59.5 years old, the Roth IRA is "qualified" and nothing is subject to tax or pena...
by Crazylegs
Fri Mar 02, 2018 8:34 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversion 5 year hold
Replies: 10
Views: 1739

Re: Roth conversion 5 year hold

Thank you all for your time and input. Based on this allow me to put together my scenario for guidence and comment. Current age: 57 1st Roth conversion: $10k on 4/1/2018 2nd Roth conversion: $10k on 4/1/2019 and continues for say 10 years. At age 63, I decided to begin withdraws on 4/1/2024. Having ...
by Crazylegs
Thu Mar 01, 2018 3:36 pm
Forum: Investing - Help with Personal Investments
Topic: Roth conversion 5 year hold
Replies: 10
Views: 1739

Roth conversion 5 year hold

In reviewing many threads here it appears the 5 year stipulation on a Roth Conversion is unclear. As I understand it, if I convert $10k on 4/1/2018 and then again convert another $10k into that same Roth account on 4/1/2019 the 5-year clock for this account began on 4/1/2018 thus making the entire $...
by Crazylegs
Sat Feb 24, 2018 7:47 pm
Forum: Investing - Help with Personal Investments
Topic: VBTLX vs. SWAGX
Replies: 4
Views: 1386

Re: VBTLX vs. SWAGX

So for those of us with Schwab accounts this would be the total bond market fund in a two or three fund account?
by Crazylegs
Fri Feb 02, 2018 11:16 pm
Forum: Investing - Help with Personal Investments
Topic: Can a Roth conversion decision be as simple as...
Replies: 2
Views: 444

Can a Roth conversion decision be as simple as...

Can the decision to begin partial conversions of 457 assets to a Roth account be simply based on the desire to avoid RMDs and to possibly be able to leave any balance to beneficiaries tax free? I would be able to cover the taxes due out of non-retirement funds.
by Crazylegs
Sun Jan 28, 2018 6:06 pm
Forum: Investing - Theory, News & General
Topic: Termination of investment adviser
Replies: 11
Views: 1741

Re: Termination of investment adviser

aristotelian wrote:
Sun Jan 28, 2018 6:03 pm

I did this with custodial accounts that were given to my kids. I was refunded a pro-rated portion of the quarterly fees.
If I may ask, how were the funds refunded? Since the fees were taken out of the account were they credited back or returned by check?
by Crazylegs
Sun Jan 28, 2018 6:03 pm
Forum: Investing - Theory, News & General
Topic: Termination of investment adviser
Replies: 11
Views: 1741

Re: Termination of investment adviser

What is your exit plan? Were you clear about that in your letter to the IA? In other words, who is the custodian now? Will that company remain the custodian, or do you plan to move the funds to a new company? If you move to the new company, will you liquidate your current investments, or transfer t...
by Crazylegs
Sun Jan 28, 2018 4:16 pm
Forum: Investing - Help with Personal Investments
Topic: Account transfer question
Replies: 6
Views: 637

Re: Account transfer question

Why not just keep it at Scwab and do the 3 fund there? Schwab has equal, if not better funds to do the 3 fund portfolio. There are specific Vanguard funds I wish to have for this account. Schwab will charge a transaction fee for the purchase and then a transaction fee for any future transactions. I...
by Crazylegs
Sun Jan 28, 2018 3:48 pm
Forum: Investing - Theory, News & General
Topic: Termination of investment adviser
Replies: 11
Views: 1741

Re: Termination of investment adviser

Jack FFR1846 wrote:
Sun Jan 28, 2018 3:41 pm
Typically fees are removed over time so there is likely nothing to return.
The fees are taken at the beginning of each quarter. I assumed they would be prorated.
by Crazylegs
Sun Jan 28, 2018 3:46 pm
Forum: Investing - Help with Personal Investments
Topic: Account transfer question
Replies: 6
Views: 637

Account transfer question

I currently have a rollover IRA with Schwab which housed 10 funds managed by an IA. I plan to transfer this IRA to Vanguard and reduce it to a 3 fund account. Will Vanguard charge me a transaction fee for each fund I sell and buy into a Vanguard fund? Would I be better off selling the shares myself ...
by Crazylegs
Sun Jan 28, 2018 3:39 pm
Forum: Investing - Theory, News & General
Topic: Termination of investment adviser
Replies: 11
Views: 1741

Termination of investment adviser

I've recently notified my IA In writing of my intent to terminate services to include the effective date which is upon receipt of my letter. I've also requested the return of any advisory fees. How long should this process take? I've had trouble reaching someone to talk with there, one of the reason...
by Crazylegs
Sat Jan 20, 2018 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: VBTLX vs. SWAGX
Replies: 4
Views: 1386

VBTLX vs. SWAGX

For those of us that may have a Schwab account the SWAGX is a total bond market index fund. It seems to compare closely with VBTLX except that VBTLX states its index is BloomBarc USAgg Flt Adj index whereas the SWAGX states its index is Bloomberg Barclays U.S. Aggregate Bond Index. These appear to b...
by Crazylegs
Thu Jan 18, 2018 5:54 pm
Forum: Investing - Help with Personal Investments
Topic: views on "Empower Retirement" as a 401k provider? fees? ease of use etc?
Replies: 44
Views: 11067

Re: views on "Empower Retirement" as a 401k provider? fees? ease of use etc?

My state employee Def Comp 457 program is through Empower. I found the fees very reasonable, unless I'm missing something. All the funds are index funds and fees are .01-.02% operating expense on the funds plus a .07% asset based fee. I see that as .08-.09% fees which seem pretty good to me. The St...
by Crazylegs
Wed Jan 17, 2018 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: views on "Empower Retirement" as a 401k provider? fees? ease of use etc?
Replies: 44
Views: 11067

Re: views on "Empower Retirement" as a 401k provider? fees? ease of use etc?

My state employee Def Comp 457 program is through Empower. I found the fees very reasonable, unless I'm missing something. All the funds are index funds and fees are .01-.02% operating expense on the funds plus a .07% asset based fee. I see that as .08-.09% fees which seem pretty good to me. The Sta...
by Crazylegs
Tue Jan 16, 2018 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: Pennsylvania Deferred Comp
Replies: 0
Views: 278

Pennsylvania Deferred Comp

Is anyone familiar with or invested in the PA Def Comp program for state employees? During my tenure with the Commonwealth I took advantage of this program. An investment adviser once said that at some point I should get out of this program since the costs are high. While I have intentions of conver...