Search found 2268 matches

by scrabbler1
Fri Jan 18, 2019 5:13 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA - RMD
Replies: 16
Views: 821

Re: Inherited IRA - RMD

My friend has an inherited IRA and I help him oversee his finances. We use his RMD as a withholding vehicle to pay taxes on the income from inherited brokerage account he has. By making the RMD near the end of the year, I have already gotten a good idea of what his taxes will look like for the year ...
by scrabbler1
Fri Jan 18, 2019 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Rolled Over 401k to IRA - Tax Documentation?
Replies: 5
Views: 247

Re: Rolled Over 401k to IRA - Tax Documentation?

When I did a direct, trustee-to-trustee rollover of my 401k to a tIRA, I got a 1099-R form which indicated the amount of the direct rollover. When I filled out my tax return the following April, I wrote the word "Rollover" next to the description of the line on the tax form, as the instruction bookl...
by scrabbler1
Fri Jan 18, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"
Replies: 155
Views: 15711

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

I am not seeing the option to change the Rewards categories. Maybe it is being rolled out on a staggered basis, so I will see it in another day or so. My CC statement closing date is the 20th, so it would be nice to be able to change the option by the time the next cycle begins.
by scrabbler1
Tue Jan 15, 2019 12:05 pm
Forum: Personal Consumer Issues
Topic: Funniest movies of all time? Name five of your favorites...
Replies: 220
Views: 31229

Re: Funniest movies of all time? Name five of your favorites...

Scrolling through this long thread, it took a while before some of my favorites got mentioned.

In no particular order.....

Tootsie
Mrs. Doubtfire
Sleeper
Caddyshack
Stripes
Animal House
Ruthless People
The Sting (although I don't consider it a comedy, it has a lot of very funny moments)
by scrabbler1
Sun Jan 13, 2019 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

........................................................ Why wouldn't F2210 Sch AI have helped? It is designed for the lumpy income that you received and the timing of the estimated taxes paid is supposed to correlate w/ the lumpy income........so you would not be subject to penalties for not havin...
by scrabbler1
Sun Jan 13, 2019 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

This is good to know if the IRS ever comes after me. They didn't in 2017 (assuming they could have), nor have they in any pear prior to that, when I was getting an ACA subsidy. Thanks. For 2014, the IRS granted a blanket waiver for underpayment penalties due to advance PTC repayment. Notice 2015-9 ...
by scrabbler1
Sun Jan 13, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

[................................................................... I haven't been hit with any underpayment penalty or interest, but I have been in a similar situation as you with regard to a large cap gains distribution at the end of the year erasing the ACA premium subsidy I got during the year...
by scrabbler1
Sun Jan 13, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

I haven't been hit with any underpayment penalty or interest, but I have been in a similar situation as you with regard to a large cap gains distribution at the end of the year erasing the ACA premium subsidy I got during the year. As I mentioned in a recent thread, Form 2210 doesn't help me make m...
by scrabbler1
Sun Jan 13, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

I just realized that IRS hit me with a nice penalty for not paying enough estimated taxes during 2017. I didn't think I had to pay the penalty, because on 27th of December I received a large Capital Gains Distribution from a mutual fund. This additional income disqualified me from keeping Obamacare...
by scrabbler1
Sun Jan 13, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

I just realized that IRS hit me with a nice penalty for not paying enough estimated taxes during 2017. I didn't think I had to pay the penalty, because on 27th of December I received a large Capital Gains Distribution from a mutual fund. This additional income disqualified me from keeping Obamacare...
by scrabbler1
Sun Jan 13, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: What deductible for Comprehensive and Collision Insurance?
Replies: 34
Views: 1515

Re: What deductible for Comprehensive and Collision Insurance?

Because Collision tends to be a more expensive coverage (there are exceptions, for sure), increasing its deductible will save you more than increasing Comprehensive's deductible. I have $250 for Comp and $500 for Collision. I also have Full Coverage Glass on the Comp side because glass claims are hi...
by scrabbler1
Sun Jan 13, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1256

Re: Estimated tax penalty exceptions

I just realized that IRS hit me with a nice penalty for not paying enough estimated taxes during 2017. I didn't think I had to pay the penalty, because on 27th of December I received a large Capital Gains Distribution from a mutual fund. This additional income disqualified me from keeping Obamacare...
by scrabbler1
Fri Jan 11, 2019 9:46 am
Forum: Investing - Theory, News & General
Topic: Did you ever "win" big?
Replies: 133
Views: 9563

Re: Did you ever "win" big?

The company I used to work for began an ESOP in 1997. The initial stock price was $29. We were given shares based on our total annual compensation, and I ended up with 337 of them. Meanwhile, the stock price exploded to $879 by the end of 2008. Do the math, that's nearly $300k which I cashed out (us...
by scrabbler1
Fri Jan 11, 2019 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Under $100k Avg Annual Income Millionaires and How You Did It?
Replies: 117
Views: 13873

Re: Under $100k Avg Annual Income Millionaires and How You Did It?

I am always saddened (though you didn't say) by how many people on here say no.kids like it's an achievement or something! Yes kids are expensive but they don't need to break the bank and they add so much joy and meaning to life. But without them you also run the risk of a lonely terrible end of.li...
by scrabbler1
Thu Jan 10, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: How did you solve the pre-medicare healthcare riddle?
Replies: 81
Views: 5609

Re: How did you solve the pre-medicare healthcare riddle?

Even for a single person, 400% FPL is $48k. If you have anything less than about $2M in taxable, you should be able to stay under $48k if you’re careful with how it’s invested. Also, most people have a mix of taxable, 401k/tIRA, and Roth, and can choose where to place investments, and which account...
by scrabbler1
Thu Jan 10, 2019 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: How did you solve the pre-medicare healthcare riddle?
Replies: 81
Views: 5609

Re: How did you solve the pre-medicare healthcare riddle?

I retired at 45 in late 2008 and bought an individual HI policy to start in 2009. This was before the ACA. Premiums rose quickly, by 20% for 2010 and 25% more for 2011, putting a strain on my budget. by then, the ACA had been passed but the exchanges would not begin until 2014. I dumped the HI poli...
by scrabbler1
Thu Jan 10, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: How did you solve the pre-medicare healthcare riddle?
Replies: 81
Views: 5609

Re: How did you solve the pre-medicare healthcare riddle?

I retired at 45 in late 2008 and bought an individual HI policy to start in 2009. This was before the ACA. Premiums rose quickly, by 20% for 2010 and 25% more for 2011, putting a strain on my budget. by then, the ACA had been passed but the exchanges would not begin until 2014. I dumped the HI polic...
by scrabbler1
Thu Jan 10, 2019 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Under $100k Avg Annual Income Millionaires and How You Did It?
Replies: 117
Views: 13873

Re: Under $100k Avg Annual Income Millionaires and How You Did It?

Question for the under $100k income millionaires. Do you have any regrets about missing out on some things in your younger adult years as a consequence of high savings rates? Not at all. I never had extravagant tastes or interests, so I still did what I wanted to do. I always had a surplus which I ...
by scrabbler1
Wed Jan 09, 2019 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Under $100k Avg Annual Income Millionaires and How You Did It?
Replies: 117
Views: 13873

Re: Under $100k Avg Annual Income Millionaires and How You Did It?

Annual wage income rose from $23k when I began working full-time in 1985 to $78k in 2000 before I switched to working part-time in 2001. Wage income varied between $30k and $55k between 2001 and 2008, when I retired at age 45. Average annual wage income was $52k. Total investment NW hit $1M in 2010....
by scrabbler1
Sun Jan 06, 2019 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Clark Howard looks at new 1040 tax form for 2018
Replies: 28
Views: 3755

Re: Clark Howard looks at new 1040 tax form for 2018

Ugh, I just discovered that I will need another form to include a tiny piece of information. I help two people with their tax returns and complete the third-party (not a paid preparer) info usually found on all former tax forms (1040, 1040EZ, 1040A). Now, this tiny bit of info (name and PIN) has to ...
by scrabbler1
Sun Jan 06, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: What Do You Spend The Most On Annually?
Replies: 158
Views: 8240

Re: What Do You Spend The Most On Annually?

In 2018, health insurance and housing (co-op maintenance payments, which include a lot of items) were tied for first. If I add OOP medical costs, then the broader Medical Expenses become #1. Also, some state property tax rebates offset the property tax part of my co-op maintenance. Income taxes are ...
by scrabbler1
Sun Jan 06, 2019 12:17 pm
Forum: Investing - Theory, News & General
Topic: For those retired a few years
Replies: 58
Views: 4763

Re: For those retired a few years

No big change for us. Health insurance became more expensive. Commuting costs disappear. Hobby costs are higher, but still not high. This sums it up for me, too, mostly. In my early retirement budget, I used my pre-retirement budget and made the following changes: (1) Eliminated commuting costs (2)...
by scrabbler1
Sun Jan 06, 2019 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement itch- when did you get it?
Replies: 145
Views: 14551

Re: Retirement itch- when did you get it?

Lots of retirement itches, at different times to different degrees. The first time I heard about Financial Independence (FI) was when I was 23, in a joking way, with a friend of mine when we talked about being able to live solely off investment income. It wasn't until I was 35 when I thought about F...
by scrabbler1
Sun Jan 06, 2019 11:57 am
Forum: Investing - Theory, News & General
Topic: How do you view a savings surplus in retirement?
Replies: 117
Views: 5957

Re: How do you view a savings surplus in retirement?

I don't look at the surplus in the portfolio amount. Instead, I look at the surplus in the investment income it generates, the surplus over the expenses it has to cover. But, as others have replied, I view that surplus as a cushion of investment income over expenses. Furthermore, when I look at a su...
by scrabbler1
Sat Dec 29, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

.................................................................................... I actually went through Form 2210 and its AI worksheet and it did show small estimated tax payments due for the first 3 quarters. But had I not lost the ACA Subsidy (credit), I never would have gotten to the AI wor...
by scrabbler1
Sat Dec 29, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

.................................................................................... I actually went through Form 2210 and its AI worksheet and it did show small estimated tax payments due for the first 3 quarters. But had I not lost the ACA Subsidy (credit), I never would have gotten to the AI wor...
by scrabbler1
Sat Dec 29, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

............................................................... But the distribution was huge, and it wasn't known until the estimates came out in November; the actual amount wasn't known until 2 days ago. The IRS can't expect me to be a seer, which is what I would claim if they claimed I owed a pe...
by scrabbler1
Fri Dec 28, 2018 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

................................. ........................................... I did not file any 2210 form. I had no problem and have used this safe harbor provision a few times over the years. ........................................... I know someone who did not withhold or pay estimated taxes. E...
by scrabbler1
Fri Dec 28, 2018 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

................................. ........................................... I did not file any 2210 form. I had no problem and have used this safe harbor provision a few times over the years. ........................................... I know someone who did not withhold or pay estimated taxes. E...
by scrabbler1
Fri Dec 28, 2018 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payment Question
Replies: 18
Views: 1421

Re: Estimated Tax Payment Question

Hey all, quick question on estimated taxes. I’ve read a few other threads on this, but just want to verify... In Q4 my wife and I received a significant distribution from a trust. This income will be applied to tax year 2018. I have gone through and estimated our taxes for this year and now our wit...
by scrabbler1
Tue Dec 25, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: What did you do once you hit your target number?
Replies: 49
Views: 5414

Re: What did you do once you hit your target number?

I hit my number in the summer of 2008, earlier than I expected. The number was the value of the company stock I owned. It rose, mostly, even while the rest of the market was tanking, creating a terrific buying opportunity wen I sold it upon leaving the company at the end of October and cashing it ou...
by scrabbler1
Mon Dec 24, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: 1040 ES - Non-Equal Payments - ok?
Replies: 24
Views: 1181

Re: 1040 ES - Non-Equal Payments - ok?

Shouldn't non-equal payments be okay when you consider that the number of months in each estimated tax "quarter" are not the same? The number of months in each estimated tax quarter are 3-2-3-4, not 3-3-3-3. So, it stands to reason that even if your income were equally distributed throughout the yea...
by scrabbler1
Wed Dec 19, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 form 1040 released
Replies: 26
Views: 3487

Re: 2018 form 1040 released

Before this year, it was bad enough if I made one sale of something in my portfolio (i.e. sale of some shares in a mutual fund) which triggered Form 8949 and Schedule D. Now that sale will also trigger Schedule 1 which will show a single number two times. Yes, some other income sources will also tri...
by scrabbler1
Mon Dec 17, 2018 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Affordable Care Act and subsidies
Replies: 24
Views: 1792

Re: Affordable Care Act and subsidies

My ACA subsidy had always been fairly small (under $500) until 2017. It rose to just over $800 but I went over the cliff and saw it disappear. In a few days I will go over the cliff again for 2018 and lose the subsidy again, this time costing me nearly $1,500. That cliff is getting higher each year ...
by scrabbler1
Wed Dec 12, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA dental coverage
Replies: 12
Views: 1357

Re: COBRA dental coverage

When I lost my eligibility for my employer's dental plan back in 2007, I went on COBRA but kept dental coverage because there was some simple but expensive dental work I knew I had to get done. I made sure to get it done before COBRA expired at the end of 2008. I then figured out that between premiu...
by scrabbler1
Sun Dec 09, 2018 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: Tax loss harvesting, Fidelity round-trip violation
Replies: 7
Views: 723

Re: Tax loss harvesting, Fidelity round-trip violation

I received a round-trip violation warning from Fido once about 9 years ago in my brokerage account. There were no consequences as far as privileges go. I've done round-trips once in a while (never 4 times in a year) within my Rollover IRA and never heard anything from Fido. Maybe there are different...
by scrabbler1
Sat Dec 08, 2018 10:38 am
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 14390

Re: Retired in your late 40s or early 50s?

Pam01 wrote:
Fri Dec 07, 2018 7:58 pm
Early retirees, what are you doing for healthcare coverage in early retirement, especially if living in the US?
I have a Silver plan under the ACA. I qualify for a small subsidy, but went over the subsidy cliff in 2017 and will go over it again in 2018.
by scrabbler1
Sat Dec 08, 2018 10:36 am
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 14390

Re: Retired in your late 40s or early 50s?

For most of the early retirees, what withdrawal rates are you using? Did you have to make adjustments to your original withdrawal plans? I don't have a preset withdrawal rate, but it has been between 1.7% and 2.5% in the 10 years I have been retired. The only meaningful adjustment I have made in th...
by scrabbler1
Thu Dec 06, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance for FIRE [Financial Independence Retire Early]
Replies: 83
Views: 6561

Re: Health insurance for FIRE

I FIREd 10 years ago, at age 45, a few years before the ACA. At the time, I had a reasonably affordable individual plan. But its premiums rose 50% in 2 years and I had to ditch it for a bare-bones plan which left me underinsured for 2 1/2 years until the ACA's exchanges began in 2014. Premiums dropp...
by scrabbler1
Mon Dec 03, 2018 12:05 am
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 14390

Re: Retired in your late 40s or early 50s?

I retired 10 years ago at age 45 after working 23 years full-time and 7 years part-time. The transition from full-time to part-time was more important because it was at that time I regained control over my personal life. This included resurrecting old hobbies and starting some new ones. But the best...
by scrabbler1
Thu Nov 29, 2018 8:58 am
Forum: Personal Consumer Issues
Topic: How do you spend/kill time online?
Replies: 21
Views: 2719

Re: How do you spend/kill time online?

If I am all caught up with my regularly visited websites, I sometimes visit Bridge Base Online and play a bunch of solitaire bridge hands against 3 robot opponents. I actually found 2 versions of this, probably not from the same source. One has a nice feature where if you are going to be the dummy i...
by scrabbler1
Tue Nov 27, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: List of costs that go away/decrease and increase/appear in retirement
Replies: 69
Views: 5892

Re: List of costs that go away/decrease and increase/appear in retirement

When I was putting together my early retirement plan 10 years ago, I looked at my pre-retirement expenses and made the following adjustments: (1) I eliminated FICA taxes and commutation expenses. (2) I increased my health insurance expenses (this was before the ACA). The above items roughly offset e...
by scrabbler1
Mon Nov 26, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 133
Views: 12500

Re: How Long / Hard To Become a Millionaire on Under $100k Income

I worked for 23 years, the first 16 of them full-time before reducing my hours to part-time for the last 7 years ending in 2008. My highest salary, at the end of Year 16, was $78k. Counting home equity (a paid-off studio co-op apartment valued at about $100k), I hit $1M at age 43, my 5th year workin...
by scrabbler1
Wed Nov 21, 2018 8:45 am
Forum: Investing - Help with Personal Investments
Topic: Current Retirees: Do you touch your principal?
Replies: 79
Views: 8361

Re: Current Retirees: Do you touch your principal?

No. My early retirement plan included being able to live off monthly and quarterly dividend payments. If anything, I have had some excess dividends over the years I have been able to reinvest somewhere. I am 55 now and this has been going on for the last 10 years. So you retired at 45. what have yo...
by scrabbler1
Tue Nov 20, 2018 7:53 am
Forum: Investing - Help with Personal Investments
Topic: Current Retirees: Do you touch your principal?
Replies: 79
Views: 8361

Re: Current Retirees: Do you touch your principal?

If you don't (or do not plan to) spend the principal ever, why bother to have saved so much in the first place? The principal is what generates the dividends, monthly and quarterly. If I spend down the principal too much, the dividends will drop, too. Some of my principal is tucked away in a second...
by scrabbler1
Mon Nov 19, 2018 9:24 pm
Forum: Investing - Help with Personal Investments
Topic: Current Retirees: Do you touch your principal?
Replies: 79
Views: 8361

Re: Current Retirees: Do you touch your principal?

No. My early retirement plan included being able to live off monthly and quarterly dividend payments. If anything, I have had some excess dividends over the years I have been able to reinvest somewhere. I am 55 now and this has been going on for the last 10 years. Basically the duration of the bull...
by scrabbler1
Sun Nov 18, 2018 8:00 pm
Forum: Investing - Help with Personal Investments
Topic: Current Retirees: Do you touch your principal?
Replies: 79
Views: 8361

Re: Current Retirees: Do you touch your principal?

No. My early retirement plan included being able to live off monthly and quarterly dividend payments. If anything, I have had some excess dividends over the years I have been able to reinvest somewhere. I am 55 now and this has been going on for the last 10 years.
by scrabbler1
Thu Nov 15, 2018 8:52 am
Forum: Investing - Theory, News & General
Topic: Does Early Retirement Make You Live Longer?
Replies: 70
Views: 4585

Re: Does Early Retirement Make You Live Longer?

Longevity is highly correlated with wealth. Wealthy people retire young. People without money work as long as they can. Excellent point. Was the group comparing apples to apples comparison. Another way to look at it is folks who are more ill are likley to keep working longer to keep health insuranc...
by scrabbler1
Sun Nov 11, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Doing taxes by hand
Replies: 83
Views: 5020

Re: Doing taxes by hand

For me it is always download forms from the IRS website, make an excel spreadsheet with all the "important" lines I will be using, doing the calls, opening the editable pdf files, printing, signing, and mailing. The only time a writing instrument hits paper is for the signature. I print the forms i...
by scrabbler1
Thu Nov 08, 2018 8:06 am
Forum: Investing - Theory, News & General
Topic: year-end capital gains distributions
Replies: 7
Views: 1164

Re: year-end capital gains distributions

I thought it would be on the fund research or info page but didn't think to Google it! I found it for Fidelity (which is what I was looking for). https://www.fidelity.com/mutual-funds/information/year-end Note that the Fidelity page only shows expected capital gains distributions even though it is ...