Search found 23 matches

by Lrt12
Fri Nov 22, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 719
Views: 67275

Re: Refinance Mega Thread

Any advice for this situation would be helpful. Current mortgage: 175,000 remaining from 191,000 (8/2015) at 4.125%- 30 year loan House value ~245,000 Looks like we can get: 3.125% with 0 points 15 year (fees ~1700) 3.625% with 0 points 30 year (fees ~2000) Gross income this year will be ~220,000. W...
by Lrt12
Mon Nov 11, 2019 4:41 pm
Forum: Personal Investments
Topic: What’s in your TSP?
Replies: 47
Views: 3707

Re: What’s in your TSP?

Currently- G:15% F: 5% C: 58% S: 22% I: 0% (hold international in husband's Roth IRA) As others have mentioned we do not hold the L-fund as we look at our portfolio as a whole and hold all bonds in the TSP. My husband's 401K and both of our Roth IRAs are all stock. I rebalance at the beginning of t...
by Lrt12
Mon Nov 11, 2019 12:46 pm
Forum: Personal Investments
Topic: What’s in your TSP?
Replies: 47
Views: 3707

Re: What’s in your TSP?

Currently- G:15% F: 5% C: 58% S: 22% I: 0% (hold international in husband's Roth IRA) As others have mentioned we do not hold the L-fund as we look at our portfolio as a whole and hold all bonds in the TSP. My husband's 401K and both of our Roth IRAs are all stock. I rebalance at the beginning of th...
by Lrt12
Mon Mar 18, 2019 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Pension (no COLA): ~60k/year each; survivor benefit on his pension SS: Benefits ~38k/year each at 70 The first chart shows tax rates on tIRA withdrawals with $120K/yr pension as the only other income. The second chart shows tax rates on tIRA withdrawals with $120K/yr pension and $76K/yr SS income. ...
by Lrt12
Sat Mar 16, 2019 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Is it possible for one or both of them to delay the start of their pension and/or retire now to give them more space for Roth conversions? This is more important IMO than maximizing any SS benefits by taking it before age 70. I would even go over the IRMAA cliff for a few early years if it prevente...
by Lrt12
Sat Mar 16, 2019 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

I don't have anything to offer on withdrawal planning. just an observation on their numbers. they are in an enviable position, but the numbers have a bit of a disconnect that might warrant checking. The anticipated $38k each in SS indicates a nearly max'ed 35 year FICA record ($130k each in 2019 do...
by Lrt12
Fri Mar 15, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Would it be better to maximize social security benefits at the possible expense of being able to convert more to Roth? Not sure what you mean? They shouldn't be doing any Roth conversions once they start taking SS benefits. It just balloons the taxes. If they want to do some modest conversions whil...
by Lrt12
Fri Mar 15, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Have both of them name the children as beneficiaries on the IRA's not the other spouse. I would also be interested to hear more about this approach. Their first goal is to take care of each other, not leave money to children. I would think if one needed long-term expensive nursing care this might b...
by Lrt12
Fri Mar 15, 2019 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Both of them waiting to age 70 for SS Benefits is probably not the best approach. Have them use Mike Piper's calculator to determine the best approach: https://opensocialsecurity.com/ My best guess is that the one with the lower benefit should file at full retirement age. It may be possible for the...
by Lrt12
Fri Mar 15, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Why a survivor benefit on his pension only and not one on hers? There will only be one social security income once one spouse departs, and the drop in income should he be the survivor will be $60,000 in addition should her pension have no survivor benefit. Sure, females are statistically likely to ...
by Lrt12
Fri Mar 15, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

...1. Is this a no-brainer scenario to wait until 70 to draw social security? They met with some type of social security advisor who reported the maximum value would be to take earlier than 70. I believe this was based only on life expectancy not considering additional investments/plan for Roth con...
by Lrt12
Thu Mar 14, 2019 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Re: Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Low state taxes. LCOL area. Neither have chronic conditions. Would expect the wife to outlive the husband. Heirs are at different income levels. I would guess one is into the 24% bracket and the other barely into 22%. IRMAA is definitely a factor although I admit I need to look into this more. Reall...
by Lrt12
Thu Mar 14, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring- pension is 2x annual expense. Roth conversions/ss advice.
Replies: 39
Views: 4844

Retiring- pension is 2x annual expense. Roth conversions/ss advice.

Relatives asking for help regarding converting traditional IRA to Roth to help limit RMD’s in tax efficient manner. Both are in good health. Her-65 (planning to retire) Him-66 (still working currently- likely for at least 1 more year) Current annual spend: ~60k Desired annual retirement spend: repor...
by Lrt12
Wed Jan 30, 2019 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance for cancer survivor? OR, can I even get insured?
Replies: 19
Views: 1839

Re: How much life insurance for cancer survivor? OR, can I even get insured?

I was 25 years in remission from a childhood cancer at 29 last year when I applied for life insurance. 1 million for 20 years at $674/year. Otherwise healthy. Rate double as compared to my then 28 year old, healthy husband.
by Lrt12
Sat Oct 27, 2018 2:09 pm
Forum: Personal Investments
Topic: First time TLH. Please review
Replies: 4
Views: 470

Re: First time TLH. Please review

Planning my first TLH. Please review my plan. Started taxable brokerage with Vanguard 5/2018. Multiple contributions (all VTSAX) with the last one 10/19/18. Automatic reinvestment of dividends is turned off in taxable account. However, I hold all VTSAX in my Roth IRA as well which had a dividend re...
by Lrt12
Sat Oct 27, 2018 12:48 pm
Forum: Personal Investments
Topic: First time TLH. Please review
Replies: 4
Views: 470

First time TLH. Please review

Planning my first TLH. Please review my plan. Started taxable brokerage with Vanguard 5/2018. Multiple contributions (all VTSAX) with the last one 10/19/18. Automatic reinvestment of dividends is turned off in taxable account. However, I hold all VTSAX in my Roth IRA as well which had a dividend rei...
by Lrt12
Tue Apr 03, 2018 1:13 pm
Forum: Personal Investments
Topic: Saving For Retirement as a Millennial
Replies: 28
Views: 3590

Re: Saving For Retirement as a Millennial

I'm a slightly older millennial and made similar to what you're making at the same point in my career. Your saving rate is great and higher than mine was at the same time. I agree you shouldn't be paying extra on your mortgage. Pour all that into your 401k and reduce your taxes even more. You shoul...
by Lrt12
Fri Mar 23, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy payback- married Dec 2017
Replies: 10
Views: 961

Re: ACA subsidy payback- married Dec 2017

There is an alternate calculation for the year of marriage (which is Part V of Form 8962). It may lower the amount of your repayment. Will definitely look into that. Thank you. Have you looked into 'Married Filing Separately'? TravelforFun It is my understanding that for the ACA subsidy it doesn’t ...
by Lrt12
Fri Mar 23, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy payback- married Dec 2017
Replies: 10
Views: 961

Re: ACA subsidy payback- married Dec 2017

One idea - If either or both of you qualify for a deductible IRA contribution, doing so up to the limit might help. Deductibility will depend on age and tax situation. But deductible IRA contributions do lower MAGI (modified adjusted gross income) for ACA subsidies. The question will be whether thi...
by Lrt12
Fri Mar 23, 2018 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy payback- married Dec 2017
Replies: 10
Views: 961

ACA subsidy payback- married Dec 2017

DH and I got married in December 2017. Prior to us getting married, he was receiving health care through ACA. His healthcare was subsidized as he was interning with a part time job. Since we got married and are considered married the whole year for tax purposes, we are being asked to pay back the ~$...
by Lrt12
Tue Jan 16, 2018 8:49 am
Forum: Personal Investments
Topic: 29 years old, newly married. Need help allocating ~$3300/month
Replies: 8
Views: 1720

Re: 29 years old, newly married. Need help allocating ~$3300/month

@Frisco kid Liquidity has definitely been my main concern with regards to paying extra towards the mortgage. I will continue to hold my bonds in my 401K for tax efficiency so our taxable account will be 100% stocks. I am thinking aim for 1 year of expenses in taxable account before paying extra towa...
by Lrt12
Tue Jan 16, 2018 6:48 am
Forum: Personal Investments
Topic: 29 years old, newly married. Need help allocating ~$3300/month
Replies: 8
Views: 1720

Re: 29 years old, newly married. Need help allocating ~$3300/month

Thanks for the replies. I have certainly been debating paying down the mortgage versus taxable investing while maintaining our overall AA. I have read numerous threads on that on this forum and see it is usually case specific and liquidity must be considered. It seems that we could be mortgage free ...
by Lrt12
Mon Jan 15, 2018 3:53 pm
Forum: Personal Investments
Topic: 29 years old, newly married. Need help allocating ~$3300/month
Replies: 8
Views: 1720

29 years old, newly married. Need help allocating ~$3300/month

EF: 6 months expenses in high yield savings account Debt: Mortgage 181,000 remaining at 4.125% (30 year fixed) Tax filing status: MFJ Tax: 22% federal, 5% state State of residence: AL Age: 29, DH is 28 Desired asset allocation: 85% stocks / 15% bonds Desired international allocation: 20% of stocks P...