Search found 66 matches

by bearwithbear
Mon Aug 03, 2020 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Naming sons as Roth primary beneficiaries
Replies: 24
Views: 1663

Re: Naming sons as Roth primary beneficiaries

OP, We have given some thought to having the kids get the Traditional IRA from the first of us to die. Our thinking is that if the spouse gets the Traditional IRA then when the kids do inherit they will only have 10 years to empty both Traditional IRAs. By not leaving it to the spouse, it seems like...
by bearwithbear
Thu Jul 16, 2020 11:41 am
Forum: Personal Consumer Issues
Topic: Oddly Difficult to Find Items During the Pandemic
Replies: 200
Views: 14169

Re: Oddly Difficult to Find Items During the Pandemic

AlwaysaQ,

Forgot to mention Walmart. They have King Arthur flour. If you can get to a total order of $35.00 then shipping is free.

Bear
by bearwithbear
Thu Jul 16, 2020 11:36 am
Forum: Personal Consumer Issues
Topic: Oddly Difficult to Find Items During the Pandemic
Replies: 200
Views: 14169

Re: Oddly Difficult to Find Items During the Pandemic

AlwaysaQ,

Both softsoap and KIng Arthur Flour are available from BJs. They ship.
If you are not a member you can get a year membership that is online only for $10.

Bear
by bearwithbear
Thu Jul 16, 2020 10:11 am
Forum: Personal Consumer Issues
Topic: Oddly Difficult to Find Items During the Pandemic
Replies: 200
Views: 14169

Re: Oddly Difficult to Find Items During the Pandemic

Megabad,

KIng Arthur Flour has yeast. Sam's Club does also. Both ship.

Bear
by bearwithbear
Mon Jul 06, 2020 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Semi-Retirement Withdrawal Strategy
Replies: 13
Views: 1429

Re: Semi-Retirement Withdrawal Strategy

OP, So you can take more money from after tax and stay under the ACA cliff. What I suggest is run some tax returns thru your favorite tax software. Vary the amount from the tIRA and the after tax account. Focus on the amount of money you want in a given year and the ACA cliff. The max amount of mone...
by bearwithbear
Sat Jul 04, 2020 6:53 pm
Forum: Personal Investments
Topic: Windfall and Roth Conversion
Replies: 15
Views: 1123

Re: Windfall and Roth Conversion

OP, Have you considered what happens tax wise if you and your spouse pass early (ie. soon)? Whomever inherits has to empty the 401Ks in 10 years. We are considering not having the spouse inherit the IRAs and letting it go to the kids to give them a longer period of time to stretch out the withdrawal...
by bearwithbear
Sat Jul 04, 2020 1:09 pm
Forum: Personal Investments
Topic: Portfolio Simplification and Help, Please and Thank You
Replies: 29
Views: 1970

Re: Portfolio Simplification and Help, Please and Thank You

OP,

Check out the open social security calculator
https://opensocialsecurity.com/
You may do best by taking yours not long after 62 and your husband waits to 70.
The portfolio gets used to help bridge the gap.

Does the surviving spouse get 100% of the pension?

Bear
by bearwithbear
Wed Jul 01, 2020 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Trying to retire. What to do with my rental property?
Replies: 17
Views: 2233

Re: Trying to retire. What to do with my rental property?

OP, Sorry for my error. So $50,000 from pension and Social Security. Expenses are $72,000 with mortgage. Sell rental and pay off mortgage. Expenses reduced by $13,908 to $58,092 $8,092 short fall comes from IRA - $143,775.20 and proceeds from sale of rental - $197,000 This works but not much wiggle ...
by bearwithbear
Tue Jun 30, 2020 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to retire. What to do with my rental property?
Replies: 17
Views: 2233

Re: Trying to retire. What to do with my rental property?

OP, So the $72,000 includes the mortgage payment. Annual mortgage payments about $15,000. So if you pay off mortgage and have $72,000 in income that would even include the extra $10,000 for travel and classes. Currently Social Security is $36,000 and Pension is $13,932 ==> call it $50,000. Need anot...
by bearwithbear
Tue Jun 30, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Trying to retire. What to do with my rental property?
Replies: 17
Views: 2233

Re: Trying to retire. What to do with my rental property?

OP,

Does the $72,000 include the mortgage on the primary residence?

Bear
by bearwithbear
Mon Jun 29, 2020 2:06 pm
Forum: Personal Investments
Topic: Am I Headed for a Retirement Tax Bomb?
Replies: 66
Views: 9454

Re: Am I Headed for a Retirement Tax Bomb?

retiredjg,

You are correct. Amount of money left after taxes is the way to look at this.

Thanks,
Bear
by bearwithbear
Sat Jun 27, 2020 9:40 am
Forum: Personal Investments
Topic: Am I Headed for a Retirement Tax Bomb?
Replies: 66
Views: 9454

Re: Am I Headed for a Retirement Tax Bomb?

LeeMKE,

About how much did you save in total taxes?
Which meant that you spent how much on taxes now to save how much later?

Thanks,
Bear
by bearwithbear
Wed Jun 17, 2020 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Am i safe to retire?
Replies: 28
Views: 3824

Re: Am i safe to retire?

OP,

Does your pension change if you retire and delay collecting your pension?

Bear
by bearwithbear
Wed Jun 10, 2020 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford this mortgage
Replies: 24
Views: 2110

Re: Can we afford this mortgage

OP,

So principal and interest is around $60,000 per year.
If the $500,000 income is secure then yes.
Have you been renting? How does this compare with your rent?
How much are your expenses not including housing?

Bear
by bearwithbear
Sun May 31, 2020 2:21 pm
Forum: Personal Investments
Topic: Lock in Retirement or Toss a Coin?
Replies: 22
Views: 3025

Re: Lock in Retirement or Toss a Coin?

OP,

The social security amount @62 of $24,000 is that based on your record or is it divorced spouse benefits?
Who would have the greater social security benefit - you or your ex?

Bear
by bearwithbear
Sun May 31, 2020 2:03 pm
Forum: Personal Investments
Topic: Advice for Mom's variable annuity.
Replies: 8
Views: 586

Re: Advice for Mom's variable annuity.

OP,

Is your Mom already getting social security? If so is it spousal or widow?
Trying to figure out if there might be a few more dollars a month available.

Bear
by bearwithbear
Fri May 29, 2020 10:59 am
Forum: Personal Investments
Topic: Portfolio for 72 year old couple
Replies: 35
Views: 2739

Re: Portfolio for 72 year old couple

OP,

Will the portfolio be needed to help support the survivor after one of you pass?
How are you planning to pay for long term care if needed?

Bear
by bearwithbear
Sat May 23, 2020 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: House budget advice
Replies: 10
Views: 953

Re: House budget advice

OP, Hear your angst, but if you and your spouse like the house and property then buy it. Paying off the student loans, building a down payment fund, retirement accounts and taxable - all this looks like a million bucks in a short amount of time. You are doing fine. Haven't done the math but expect y...
by bearwithbear
Sun May 17, 2020 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Three years of emergency fund too much in this time?
Replies: 39
Views: 4409

Re: Three years of emergency fund too much in this time?

OP, If you count your 3 year emergency fund as part of your total portfolio (retirement accounts, taxable, emergency fund) at you at least 50% stocks? While I did not see your age listed, with a one year old there is probably a long time to retirement. While the emergency fund is larger than most wo...
by bearwithbear
Thu May 14, 2020 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Personally guaranteed business loan
Replies: 13
Views: 814

Re: Personally guaranteed business loan

OP, So the bank gave a $2.7 million loan to the business guaranteed by the owners of the business. The business should have assets and accounts receivables to apply to the outstanding balance of the loan. That would mean you would owe less than the full amount. You may be able to make a deal concern...
by bearwithbear
Tue May 12, 2020 3:40 pm
Forum: Personal Investments
Topic: DH Laid Off - can we retire early?
Replies: 40
Views: 4973

Re: DH Laid Off - can we retire early?

OP, You can retire early. There was a poster years ago who had a good way of looking at the money needed till you draw social security. Your husband can draw his maximum benefit in 10 years. So what do you do for 10 years? Set aside $350,000. Each year take $35,000 from this amount. Since you starte...
by bearwithbear
Sat May 09, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: High Income, next financial move?
Replies: 31
Views: 3189

Re: High Income, next financial move?

OP, Given your strong feelings for your company and employees have you considered what happens if you died suddenly? Don't know about ESOP, but could it be funded by life insurance on you? So your heirs get the insurance money and the employees get the company? Would that be what you would want? My ...
by bearwithbear
Tue May 05, 2020 6:10 am
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Annuity Inheritance

OP, Not sure why your biggest fear is to invest the money and pay taxes again later. Taxes are only on gains. So if you pay taxes you made money. Also if the time between buying and selling is more than 1 year, the tax rate is for long term capital gains which is lower than on ordinary income. Bear
by bearwithbear
Sat Apr 25, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: IRS Get My Payment up and running
Replies: 369
Views: 25160

Re: IRS Get My Payment up and running

Here is another data point. Filed for 2018 but not for 2019 Applied refund for 2018 to estimated taxes Today I was able to get to screen that wants tax information and bank information. What I did was tell it I got a refund and refund was zero. It worked. Entered bank information Told me it would do...
by bearwithbear
Mon Mar 30, 2020 6:01 am
Forum: Personal Consumer Issues
Topic: Are you still going to the grocery store or using a delivery service? Which?
Replies: 329
Views: 24605

Re: Are you still going to the grocery store or using a delivery service? Which?

Madbrain,

If your all purpose flour is King Arthur then you can make bread with just the all purpose flour.
Beginning to see some flour - with buying limits.

Best,
Bear
by bearwithbear
Tue Mar 24, 2020 9:29 am
Forum: Personal Investments
Topic: Should I stay or Should I go ? Retirement Now or as once Planned
Replies: 16
Views: 1800

Re: Should I stay or Should I go ? Retirement Now or as once Planned

OP,

If your numbers reflect the current market,then you can definitely retire any time.
It might make sense for your wife to claim S.S. at 62 which would be before you get to 70.
Mike Piper has a calculator that would give you more information when to claim for each spouse.

Best,
Bear
by bearwithbear
Sun Mar 08, 2020 11:05 am
Forum: Personal Investments
Topic: How am I doing?
Replies: 6
Views: 696

Re: How am I doing?

OP,

How is your widow set if you pass first? I know you have "longevity" genes but you never know.
And how would your widow be with running the finances?

Bear
by bearwithbear
Sun Mar 08, 2020 10:47 am
Forum: Personal Consumer Issues
Topic: Talk me into or out of a new vehicle purchase
Replies: 29
Views: 2385

Re: Talk me into or out of a new vehicle purchase

OP,

Buy the car.
And in 4 or 5 years replace the other car.
Rinse and repeat.

Bear.
by bearwithbear
Wed Jan 22, 2020 8:50 pm
Forum: US Chapters
Topic: Sad news: LadyGeek's husband has passed
Replies: 352
Views: 27498

Re: Sad news: LadyGeek's husband has passed

May you find peace and comfort in the days ahead.

Bear
by bearwithbear
Tue Jan 21, 2020 11:55 am
Forum: Personal Investments
Topic: Scared Stiff to retire
Replies: 91
Views: 12858

Re: Scared Stiff to retire

OP, You should retire now if that RV is ready for you and your wife to start doing the traveling. If your wife working keeps that from happening, then IF you work where you and your work are respected AND you enjoy it, you should continue to work. Otherwise retire and start the "honey do list". Mone...
by bearwithbear
Tue Jan 21, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Social Security survivorship question
Replies: 22
Views: 2516

Re: Social Security survivorship question

Musicmom,

Not a Social Security expert, but he gets 50% of your PIA if he waits to file for spousal benefits at his full retirement age (FRA).
Not before.
Is that what your are saying?

Bear
by bearwithbear
Tue Dec 31, 2019 7:40 am
Forum: Personal Investments
Topic: Large Capital Gain Distribution - Taxable
Replies: 22
Views: 1716

Re: Large Capital Gain Distribution - Taxable

So for tax purposes(ie. tax year) the date of the transaction is what determines not the settlement date?
Just want to verify this for the OP and myself.

Thanks,
Bear
by bearwithbear
Sat Dec 07, 2019 9:19 pm
Forum: Personal Investments
Topic: Help...too much cash in portfolio and where to move
Replies: 6
Views: 1462

Re: Help...too much cash in portfolio and where to move

With yields as low as they are, does it matter that much if 40% bonds or 20% bonds and 20% cash (CDs)?

Bear
by bearwithbear
Fri Nov 01, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Possible Layoff: Need Assurance That We Will Be Okay
Replies: 156
Views: 15286

Re: Possible Layoff: Need Assurance That We Will Be Okay

OP,

Keep up your weekly investments.
It should feel normal.

Bear
by bearwithbear
Thu Oct 31, 2019 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Layoff: Need Assurance That We Will Be Okay
Replies: 156
Views: 15286

Re: Possible Layoff: Need Assurance That We Will Be Okay

OP,

You will be fine.
Breath.
Know too that the majority of us have had the same sleepless night at some time or other.
If the layoff occurs and the worry continues, get a job.
The paycheck that you will get from that job will be the placebo that you need.
Breath.
You will be fine.

Bear
by bearwithbear
Mon Sep 02, 2019 1:22 pm
Forum: Personal Investments
Topic: My urge to to time the market... maybe
Replies: 22
Views: 2722

Re: My urge to to time the market... maybe

OP, If HomeStretch has it right and you have 3 million in your portfolio then please consider 50% stocks and 50% CDs The CDs should be enough for around 20 years at the $85k annual expenses. Certainly with the pension and Social Security. Then when you are 73 years young there would be the pension, ...
by bearwithbear
Fri Aug 16, 2019 6:46 am
Forum: Investing - Theory, News & General
Topic: Any retired person have stocks and cash I was thinking about a 70/30
Replies: 61
Views: 5259

Re: Any retired person have stocks and cash I was thinking about a 70/30

OP,

58/19/23
stock/bond/cash
cash is CDs and MM
Retired.
Sleep pretty well

Might help other posters if your withdrawal rate was included.
Still consulting some, so mine is around 1.25%

Bear
by bearwithbear
Tue Aug 13, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 17836

Re: Long-Term Care Decision

Cognovimus, Stop it. Stop worrying that every bad possibility will happen (did I miss World War Z) 4 million and social security more than makes this work. Self fund long term care. Done. Bear ps. I have this conversation with my self on a too regular basis. Not that the numbers change, just a littl...
by bearwithbear
Fri Aug 09, 2019 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: What is the best way to pass on wealth to heirs?
Replies: 30
Views: 3344

Re: What is the best way to pass on wealth to heirs?

Current federal lifetime gift tax limit is $11.4 million.
So no federal tax if your life time gifts are less.
And your spouse, if married, can do the same

Bear
by bearwithbear
Sun Jun 23, 2019 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sale of elderly parents' home
Replies: 43
Views: 3755

Re: Sale of elderly parents' home

potto0213.

From Mike PIper's "Social Security Made Simple" page 22 to paraphrase - the widow gets 100% of her husband's PIA since she is past her full retirement age.
Is that what you are saying?

Bear
by bearwithbear
Fri May 10, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help me pull the trigger-need to quit
Replies: 41
Views: 5632

Re: Help me pull the trigger-need to quit

"After contributing to his 403b and 401a contributions and health insurance, DH is currently bringing home $56k. So we would have to draw about $60k down per year from our investments." The draw down is $60k less the 403b and 401a contributions. Sometimes it seems like the emphasis is on the destina...
by bearwithbear
Tue Jan 29, 2019 5:42 pm
Forum: Investing - Theory, News & General
Topic: ST/LT Capital Gains & Losses - Summary Help Needed
Replies: 13
Views: 709

Re: ST/LT Capital Gains & Losses - Summary Help Needed

How about listing which funds can be moved into that are similar but do not upset the IRS?
I mean funds that are similar but not the same.
Sorry if that reads muddy.

Bear
by bearwithbear
Fri Jan 11, 2019 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance policy
Replies: 140
Views: 5695

Re: Long term care insurance policy

pintail07,

What does "Self insuring is great as long as you never need care" mean?
What numbers are you using?

Bear
by bearwithbear
Wed Jan 09, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off Mortgage...what to do next
Replies: 32
Views: 2892

Re: Paid off Mortgage...what to do next

OP,

Well done!
Fully fund the both Roth (2018 and 2019) and the 401K.
The emergency fund will build up a little slower but that is fine.
Not worried about it or the $8,000 on the 0% card.

Bear
by bearwithbear
Fri Dec 28, 2018 5:18 pm
Forum: US Chapters
Topic: My favorite Boglehead posters
Replies: 154
Views: 13481

Re: My favorite Boglehead posters

Sheepdog.
His thread kept me grounded and showed how supportive a community Bogleheads is.

Bear
by bearwithbear
Thu Dec 20, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Open social secuity
Replies: 41
Views: 3204

Re: Open social secuity

JoeRetire,

Remember that the $90,000 isn't guaranteed. The program makes assumptions about life expectancy that won't be true for many.
I might plan to live to 100 but no one is offering me a guarantee.

Bear
by bearwithbear
Thu Dec 20, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Small Claims - Auto Dealer Claims No $$ To Pay Judgement
Replies: 40
Views: 3313

Re: Small Claims - Auto Dealer Claims No $$ To Pay Judgement

OP,

Hank Phillippi Ryan
WHDH.com
Channel 7 News

Bear
by bearwithbear
Tue Dec 11, 2018 11:52 am
Forum: Personal Investments
Topic: SPIA or CD Ladder
Replies: 31
Views: 2685

Re: SPIA or CD Ladder

Bigfish,

Are you drawing a spousal Social Security payment?
If would be 50% of your wife's PIA.
'And maybe you can get some retroactive? Not sure

Bear
by bearwithbear
Fri Dec 07, 2018 4:40 pm
Forum: Personal Investments
Topic: Retiring in 2 weeks, Traditional 401k
Replies: 99
Views: 7375

Re: Retiring in 2 weeks, Traditional 401k

reeko0530,

Are you the only child? Have you considered getting term life insurance on your self with your parents as beneficiaries?
If you are or will provide support to them then the insurance proceeds would continue that support.

Bear
by bearwithbear
Sat Nov 10, 2018 8:49 am
Forum: Personal Investments
Topic: Strategy during the last stock market decline
Replies: 58
Views: 7562

Re: Strategy during the last stock market decline

dh,

for me the thread that really brought it all home was Sheepdog's
viewtopic.php?t=25126l

Thank you Sheepdog.

Bear