Search found 212 matches

by macher
Fri Jun 19, 2020 3:48 am
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7168

Re: 63 and Could use some advice on portfolio

Thanks so much, Macher, 02nz, ruralavalon, Watty - great illustrations and will read the recommendations. Ok, so I've got a plan to increase to 18% + maybe 20% in a few months. I am looking at STUPID Comcast. Ugh! Even with the "deals" the least package is 100/mth for least channels and then if I a...
by macher
Thu Jun 18, 2020 6:26 am
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7168

Re: 63 and Could use some advice on portfolio

@02nz - ok, that is really good to hear. This whole game is so complicated. I certainly know now that I hadn't even scratched the surface with what is needed to learn. Ugh! @Watty - I will research. thank you for the info. @ruralavalon - thank you for continuing to evaluate and give me your take an...
by macher
Wed Jun 17, 2020 5:25 pm
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7168

Re: 63 and Could use some advice on portfolio

janie57 wrote:
Wed Jun 17, 2020 4:40 pm
Updated original again. with IRA and 401K choices
I guess you won’t want to share you living expenses. Hopefully your SS will cover your living expenses at the very least.
by macher
Wed Jun 17, 2020 3:12 pm
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7168

Re: 63 and Could use some advice on portfolio

To ruralavalon: Forgive me, but I won't share my dollar specifics with the public. Yes, the 150-200 is the discretionary I have left each month, and that is if I am religious with the budget. The only variouble in my budget now is what I spend on groceries, and cable. All other expenses are fixed. ...
by macher
Wed Jun 17, 2020 3:07 am
Forum: Personal Investments
Topic: 63 and Could use some advice on portfolio
Replies: 86
Views: 7168

Re: 63 and Could use some advice on portfolio

I am 63. I am trying to be reasonably aggressive since I do not have adequate amount for retirement any time soon. I am reinvesting all dividends and capital gains. Together with SS, I am hoping I will have a decent amount to retire, but not at all lavishly. My life expectancy is fairly low. If I c...
by macher
Sun Jun 14, 2020 8:07 am
Forum: Personal Investments
Topic: help with 403b committee fund changes
Replies: 15
Views: 1055

Re: help with 403b committee fund changes

What about TIAA-CREF?
by macher
Thu Jun 11, 2020 8:21 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I would put money into Roth IRA immediately to get the 5 year clock rolling. If you put it in before tax due this year for 2019, you would have met 1 year of the 5 immediately, IIRC! If you already have it, I missed it. This money grows tax-free and there is no tax when you take out money, so it is...
by macher
Thu Jun 11, 2020 4:17 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I would put money into Roth IRA immediately to get the 5 year clock rolling. If you put it in before tax due this year for 2019, you would have met 1 year of the 5 immediately, IIRC! If you already have it, I missed it. This money grows tax-free and there is no tax when you take out money, so it is...
by macher
Wed Jun 10, 2020 7:10 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I would put money into Roth IRA immediately to get the 5 year clock rolling. If you put it in before tax due this year for 2019, you would have met 1 year of the 5 immediately, IIRC! If you already have it, I missed it. This money grows tax-free and there is no tax when you take out money, so it is...
by macher
Wed Jun 10, 2020 6:53 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I would put money into Roth IRA immediately to get the 5 year clock rolling. If you put it in before tax due this year for 2019, you would have met 1 year of the 5 immediately, IIRC! If you already have it, I missed it. This money grows tax-free and there is no tax when you take out money, so it is...
by macher
Wed Jun 10, 2020 5:00 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Sounds like the best case, not necessarily likely case, for her to work until age 67. After being kicked in the head by a horse, (losing a spouse), her physical and/or emotional status could make it difficult to accomplish this worthy goal. Even if you are both living, health care could prevent wor...
by macher
Wed Jun 10, 2020 3:46 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Sounds like the best case, not necessarily likely case, for her to work until age 67. After being kicked in the head by a horse, (losing a spouse), her physical and/or emotional status could make it difficult to accomplish this worthy goal. Even if you are both living, health could prevent working ...
by macher
Wed Jun 10, 2020 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2830
Views: 221606

Re: Refinance Mega Thread

Recently moved in a house that my wife inherited. Before we moved we completely renovated the house and told out a $75k loan for renovation. At that time we were only able to get a loan @ 4.99% for 15 years because it wasn’t a primary residence. We took the loan about 1 year ago. Home is worth $300k...
by macher
Wed Jun 10, 2020 8:15 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Sounds like the best case, not necessarily likely case, for her to work until age 67. After being kicked in the head by a horse, (losing a spouse), her physical and/or emotional status could make it difficult to accomplish this worthy goal. Even if you are both living, health could prevent working ...
by macher
Wed Jun 10, 2020 7:36 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

In order of priority for the 21% IMO: 1. For extra liquidity, consider beefing up the emergency fund, if necessary, so it covers 6 month living expenses and all final expenses. That can mean adding additional money to the savings account or it can mean putting it into a Roth IRA (not Roth 403b) up ...
by macher
Wed Jun 10, 2020 6:53 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Your road map makes sense. You might add a few summary bullet takeaway points at top for your spouse in case she gets tangled up in the details/math. What are the loan rates on your mortgage and car loan? Do you itemize and deduct mortgage loan interest? Is your wife’s name on the account that hold...
by macher
Wed Jun 10, 2020 5:44 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I have cancer and my life expectancy isn’t good. As others have said my wife will be good financially. But I would like to have monies in tax friendly avenues and would like suggestions. Another poster suggested I post as ‘ask portfolio questions’ format. Emergency funds: 6 months Income Me $55k Wi...
by macher
Mon Jun 08, 2020 4:39 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Carl53 wrote:
Mon Jun 08, 2020 4:16 pm
Yeah I think I used 71.5% but typed 78.5, my bad.
No problem.
by macher
Mon Jun 08, 2020 3:46 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

There are a lot of nuances regarding SS. Since your wife was born in 1962 or later, her survivor's FRA is age 67 with a .335% reduction per month (71.5%) of what your PIA would have been at your FRA. It is entirely possible that she might need/want a SS benefit at age 60 (71.5% of 24K = $17.2k). If...
by macher
Mon Jun 08, 2020 3:03 pm
Forum: Personal Investments
Topic: Pay Off Credit Card Cares Act?
Replies: 2
Views: 276

Re: Pay Off Credit Card Cares Act?

Get it in writing before sending a penny. "Settled in full" is the key phrase. I would take a 40% discount amounting to $4,000 even if I had to tap my 401k to do it. Be advised though, if it's a hardship distribution that might come with some bad side effects like inability to contribute for a leng...
by macher
Mon Jun 08, 2020 2:50 pm
Forum: Personal Investments
Topic: Pay Off Credit Card Cares Act?
Replies: 2
Views: 276

Pay Off Credit Card Cares Act?

Posting this for a neighbor. He has $10k credit card debt and has been in touch with the institution to let them know he couldn’t pay anything until he gets back to work. The institution got in touch with him this morning and offered him 40% off the $10k which would be $6k and they would forgive the...
by macher
Mon Jun 08, 2020 2:20 pm
Forum: Personal Investments
Topic: Have recent events affected boglehead investment philosophy?
Replies: 41
Views: 2592

Re: Have recent events affected boglehead investment philosophy?

Has covid and the recent civil unrest changed anything in terms of boglehead philosophy? I was watching the looting and thinking I should sell when I get back to where I was and move everything to what I view as more stable countries. Like Switzerland or Japan. But half their companies are multinat...
by macher
Mon Jun 08, 2020 11:22 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

There are a lot of nuances regarding SS. Since your wife was born in 1962 or later, her survivor's FRA is age 67 with a .335% reduction per month (71.5%) of what your PIA would have been at your FRA. It is entirely possible that she might need/want a SS benefit at age 60 (71.5% of 24K = $17.2k). If...
by macher
Mon Jun 08, 2020 10:56 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Survivor has choice of either starting survivor's benefit as early as age 60 up through FRA age with own SS starting as early as age 62 through age 70 (for increased amount) using the younger age for one and the older age for the other. Find out what your PIA will be at FRA age. I am guessing it is...
by macher
Mon Jun 08, 2020 9:44 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Based on your posts, you are 53 and believe she is 56. I see that you will have SS benefits. What about her SS earnings record/benefit? Likely she will take the widows SS benefit but their are some considerations, like remarriage interaction, age of taking them, etc. The following link may help and...
by macher
Mon Jun 08, 2020 9:02 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Based on your posts, you are 53 and believe she is 56. I see that you will have SS benefits. What about her SS earnings record/benefit? Likely she will take the widows SS benefit but their are some considerations, like remarriage interaction, age of taking them, etc. The following link may help and...
by macher
Mon Jun 08, 2020 8:34 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Never thought of long care insurance before. Why are you suggesting it? I asked whether wife had long term care insurance (LTCI) as I didn’t know if the portfolio/home equity needed to cover potential uninsured long-term care costs. I wasn’t suggesting she obtain LTCI but it’s an option to get a qu...
by macher
Mon Jun 08, 2020 4:57 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Well instead of 26% coming from my salary I guess we could do 16% from my salary and 11% from hers You could each contribute to your own or each other's Roth IRAs. It doesn't matter where or who pays it, as long as one or both of you work and makes enough income to cover the total 12k or whatever i...
by macher
Mon Jun 08, 2020 4:41 am
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

Based on your posts, you are 53 and believe she is 56. I see that you will have SS benefits. What about her SS earnings record/benefit? Likely she will take the widows SS benefit but their are some considerations, like remarriage interaction, age of taking them, etc. The following link may help and...
by macher
Sun Jun 07, 2020 4:58 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

As MFJ are you sure your marginal tax rate is 22% and not 12%? $94k wages - $14.3k traditional 401k deferral - $24.8k std deduction = taxable income of $54.9k I assumed 22% but you’re probably right. If 12%, Roth (rather than traditional) deferrals to your 401k are attractive. Tax rates are schedul...
by macher
Sun Jun 07, 2020 3:36 pm
Forum: Personal Consumer Issues
Topic: What fun car should I get in the $150k - $200k range?
Replies: 446
Views: 24566

Re: What fun car should I get in the $150k - $200k range?

Our family has reached some important milestones with the recent market uptick and I am considering rewarding myself with a fun car. I'm not sure exactly what and thought I ask for advice. I'm looking for something fast and fun to drive. Something I can drive down some windy roads and maybe pick up...
by macher
Sun Jun 07, 2020 3:26 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

I can't answer your question about taxes. There is a Wiki article on tax efficiency. What I want to ask is this. Is your wife currently involved in making these decisions? I don't know her aptitude or inclination to learn about personal finance, but I assume she will be managing the family finances...
by macher
Sun Jun 07, 2020 3:21 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Re: Advise To Maximize Taxes When I Pass(Have Cancer)

trueblueky wrote:
Sun Jun 07, 2020 3:15 pm
macher wrote:
Sun Jun 07, 2020 2:26 pm

Income
Me $55k
Wife $39k(permanent part time)

Tax Filing Status:
Married Filing Jointly

Tax Rate:
24% Federal
3% State

State of Residence:
PA

Age:
Me 53
Wife 56
$94,000 MFJ is not 24% federal tax bracket.
Fixed it. 22%. Thanks
by macher
Sun Jun 07, 2020 2:26 pm
Forum: Personal Investments
Topic: Advise To Maximize Taxes When I Pass(Have Cancer)
Replies: 43
Views: 4220

Advise To Maximize Taxes When I Pass(Have Cancer)

I have cancer and my life expectancy isn’t good. As others have said my wife will be good financially. But I would like to have monies in tax friendly avenues and would like suggestions. Another poster suggested I post as ‘ask portfolio questions’ format. Emergency funds: 6 months Income Me $55k Wif...
by macher
Sun Jun 07, 2020 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 4432

Re: Another Round Retirement Plan

You ask a very good and intricate question; are your taxes higher now than when your wife is a widow and retired. As a single widow the 12% tax bracket is $9,876 - $40,125. The standard deduction for a widow over 65 is $25,700. What that means is she will pay 0% taxes up to an income (25,700 + 9,87...
by macher
Sun Jun 07, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 4432

Re: Another Round Retirement Plan

You ask a very good and intricate question; are your taxes higher now than when your wife is a widow and retired. As a single widow the 12% tax bracket is $9,876 - $40,125. The standard deduction for a widow over 65 is $25,700. What that means is she will pay 0% taxes up to an income (25,700 + 9,87...
by macher
Sun Jun 07, 2020 9:28 am
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 89
Views: 10130

Re: If SS covers expenses why invest?

I would say to the OP, or anyone who is not nearing retirement, that planning for or counting on income from SS is not in your best interest. I ignored the impact of SS income until late in my career and it served me well, causing me to save more. By the time I actually retired at 63.5 I had done m...
by macher
Sun Jun 07, 2020 7:47 am
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Re: Have Cancer Best Tax Advantage Vehicle For Wife

Consider posting in the “Asking Portfolio Questions” format found here: https://www.bogleheads.org/wiki/Asking_portfolio_questions Will your marginal tax rate be higher or lower in retirement when funds are withdrawn? Generally, if higher, then Roth may make most sense. If lower, Traditional may ma...
by macher
Sun Jun 07, 2020 6:30 am
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Re: Have Cancer Best Tax Advantage Vehicle For Wife

There is an inheritance tax in PA. However, the rate for a spouse has been zero per cent for over a couple of decades. As a child, I recall some serious tear jerker stories about widows losing their homes or selling sentimental objects because the could not afford the inheritance tax. Off topic but...
by macher
Sat Jun 06, 2020 8:39 pm
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Re: Have Cancer Best Tax Advantage Vehicle For Wife

Sorry to hear. Taxable accounts, depending on the state laws you live in, she can get a stepped-up cost basis on inheriting it, so that is pretty tax advantageous from a cap gains standpoint. This is info I found about my state PA... “Gains from the sale, exchange or other disposition of any kind o...
by macher
Sat Jun 06, 2020 8:24 pm
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Re: Have Cancer Best Tax Advantage Vehicle For Wife

Sorry to hear. Taxable accounts, depending on the state laws you live in, she can get a stepped-up cost basis on inheriting it, so that is pretty tax advantageous from a cap gains standpoint. This is info I found about my state PA... “Gains from the sale, exchange or other disposition of any kind o...
by macher
Sat Jun 06, 2020 7:41 pm
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Re: Have Cancer Best Tax Advantage Vehicle For Wife

Not enough information to opine whether Traditional or Roth is better for you, or if you have too much saved in tax deferred accounts. But you could add diversification/flexibility to your portfolio by reducing the 403b contributions in order to fund Roth IRAs for you and/or wife. You could contrib...
by macher
Sat Jun 06, 2020 7:26 pm
Forum: Personal Investments
Topic: Have Cancer Best Tax Advantage Vehicle For Wife
Replies: 12
Views: 1395

Have Cancer Best Tax Advantage Vehicle For Wife

Of some of you don’t know I’m 53 years old and have cancer. My life expectancy isn’t good although I’m doing really good. But... According to my calculations and running all sorts of stuff my wife will be good financially with my SS, her pension, my group life, and my 403b when she retires. Anyway I...
by macher
Sat Jun 06, 2020 2:31 pm
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 89
Views: 10130

Re: If SS covers expenses why invest?

Being already retired 16 yrs and collecting SS, Our SS covers our yearly expenses. However I keep invested at 30/70 AA. Why? Expenses come up... Murphy's law and all. It's nice to know that I have enough savings to buy stuff whenever I wish. More is better. A new car. or two. Vacation. Stuff. Infla...
by macher
Sat Jun 06, 2020 2:06 pm
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 89
Views: 10130

Re: If SS covers expenses why invest?

For the OP and other people who are decades away from SocSec benefits, invest because of the uncertainty. As many have said in this thread, one never knows what might happen. Also, it is a great lifelong habit to live within your means and put some money aside every month. Even if you never need it...
by macher
Sat Jun 06, 2020 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 4432

Re: Another Round Retirement Plan

Plan #3 You both keep working for a few more years and all the numbers improve. But as I mentioned before she just needs enough money to get to pension and SS Collection age. Your SS and pension appear sufficient even if she stops working today. Every year you two are employed is another year you d...
by macher
Sat Jun 06, 2020 8:16 am
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 89
Views: 10130

Re: If SS covers expenses why invest?

Meeting Expenses = Surviving Exceeding Expenses = Living Right if 2 are collecting SS then you can meet expenses and exceed expenses. Let’s say both get $24k a year SS that’s $48k. If you are debt free which you should be that means meeting expenses could be $30k - $35k a year. So that’s $18k excee...
by macher
Sat Jun 06, 2020 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 4432

Re: Another Round Retirement Plan

Plan #3 You both keep working for a few more years and all the numbers improve. But as I mentioned before she just needs enough money to get to pension and SS Collection age. Your SS and pension appear sufficient even if she stops working today. Every year you two are employed is another year you d...
by macher
Sat Jun 06, 2020 5:40 am
Forum: Personal Investments
Topic: Retirement plan - feedback requested
Replies: 7
Views: 1312

Re: Retirement plan - feedback requested

You have pensions and SS that will cover nearly 100% of your wants+needs in retirement. You already have 23x your annual wants+needs accumulated in retirement accounts. You plan to save another 6 years * $80k/ year. You already have more than enough. Congrats. Don’t see the pension in their retirem...
by macher
Fri Jun 05, 2020 5:50 pm
Forum: Investing - Theory, News & General
Topic: If SS covers expenses why invest?
Replies: 89
Views: 10130

Re: If SS covers expenses why invest?

This is an honest question my wife and I have been talking about a lot lately and came up in another thread I was just reading and decided I would start my own topic instead of taking the thread off topic anymore. This question stemmed when we looked at our SS payout for the first time out of curio...