Search found 13170 matches

by The Wizard
Sat Jun 22, 2019 8:22 pm
Forum: Personal Consumer Issues
Topic: Do you Casino? What do you play? Have you won?
Replies: 82
Views: 5642

Re: Do you Casino? What do you play? Have you won?

...I'll spend 10-12 hours at the Mirage's tables over the weekend, mix in a trip to Lotus of Siam (one of the best Thai restaurants in America, a few blocks off the Strip) ... That restaurant was recommended by our esteemed member Munchkin Man some time ago and I went there in 2010 I think it was. ...
by The Wizard
Sat Jun 22, 2019 8:09 pm
Forum: Personal Consumer Issues
Topic: How do you approach tipping at carry-out restaurants
Replies: 111
Views: 8434

Re: How do you approach tipping at carry-out restaurants

RollTide31457 wrote:
Sat Jun 22, 2019 5:57 pm
Usually tip 2 or 3 dollars at fancy restaurants like Ponderosa or Pizza Hut. Usually don’t tip at McDonald’s.
Pizza Hut is fancy?
Wowza.
So where is Capital Grille and Ruth's Chris?
by The Wizard
Sat Jun 22, 2019 3:07 pm
Forum: Personal Consumer Issues
Topic: How do you approach tipping at carry-out restaurants
Replies: 111
Views: 8434

Re: How do you approach tipping at carry-out restaurants

The title of the thread and the OP are two different topics.

To the first topic, I don't tip carry-out places and neither should you...
by The Wizard
Sat Jun 22, 2019 3:02 pm
Forum: Personal Consumer Issues
Topic: Do you Casino? What do you play? Have you won?
Replies: 82
Views: 5642

Re: Do you Casino? What do you play? Have you won?

I was at Valley Forge Casino in King of Prussia, PA for five days ending yesterday. I was there for a big CONFERENCE. I saw slot machines beyond the entrance where we turn left for the conference rooms. I seem to have zero interest in actual casinos, though it might have been interesting to stroll t...
by The Wizard
Sat Jun 22, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Behaviour once the game is won
Replies: 18
Views: 3410

Re: Behaviour once the game is won

I think one of the biggest questions is whether or not you want to leave a legacy. If we had no kids or dependents and had no one to leave the money to then I'd be inclined to lock up enough funds into secure fixed income investments or annuities to guarantee an adequate income for life... I'm not ...
by The Wizard
Sat Jun 22, 2019 7:54 am
Forum: Investing - Theory, News & General
Topic: The problem in retirement we rarely discuss [what to do with stock funds]
Replies: 58
Views: 6581

Re: The problem in retirement we rarely discuss [what to do with stock funds]

Take the money out as you need it and pay the taxes on it. What other plan could there possibly be? What other plan could there possibly ever have been?... Right, this is what I would recommend as well. Reinvest dividends into your desired index funds, but most decumulators will be spending their d...
by The Wizard
Fri Jun 21, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Behaviour once the game is won
Replies: 18
Views: 3410

Re: Behaviour once the game is won

There can be more than one Phase to the "game". When I retired at age 63, I was "ok" financially, but had seven years to go until age 70 and the increased financial security of maximal SS income. These were my Sequence Of Returns risk years. Now with nine months to go until age 70 SS, I've nearly co...
by The Wizard
Thu Jun 20, 2019 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare - Any penalties for early retirees?
Replies: 4
Views: 810

Re: Medicare - Any penalties for early retirees?

However, if you retire before 65 and do "large" Roth conversions at age 63 or later, your AGI/MAGI could be higher than the first IRMAA threshold, presently $85k/person and affect you that way...
by The Wizard
Thu Jun 20, 2019 6:42 pm
Forum: Personal Consumer Issues
Topic: Tree stump, can't use a stump grinder. Solution?
Replies: 64
Views: 6196

Re: Tree stump, cant use a stump grinder. Solution?

I have an ongoing logging road project here in New England and have dealt with stumps in various ways, depending on location relative to the road path. I've sawn a large white oak stump into quarters vertically and used a hefty chain and my F-150 to yank out the segments. Smaller stumps I've dug dow...
by The Wizard
Thu Jun 20, 2019 1:43 pm
Forum: Investing - Theory, News & General
Topic: Contribute to an ira after returement
Replies: 11
Views: 1093

Re: Contribute to an ira after returement

I am not sure of the details but you also cannot make IRA contribution after you are 70.5 even if you are otherwise eligible, but there has been some talk of changing that. January 1st of the year you turn 70.5, same as the start of RMDs... May be different for ROTH since there are no RMDs? This is...
by The Wizard
Thu Jun 20, 2019 12:16 pm
Forum: Personal Investments
Topic: Roth IRA all the way?
Replies: 26
Views: 2943

Re: Roth IRA all the way?

One problem with a Roth IRA is that you're limited to $6000 a year total, between Roth and traditional IRAs combined. 403(b) and 401(k) plans allow 3-4 times as much to be contributed and often have some sort of match. Your expected salary history matters a bit but it's best to put $$$ in both tradi...
by The Wizard
Thu Jun 20, 2019 9:05 am
Forum: Investing - Theory, News & General
Topic: Contribute to an ira after returement
Replies: 11
Views: 1093

Re: Contribute to an ira after returement

Watty wrote:
Thu Jun 20, 2019 6:33 am
I am not sure of the details but you also cannot make IRA contribution after you are 70.5 even if you are otherwise eligible, but there has been some talk of changing that.
January 1st of the year you turn 70.5, same as the start of RMDs...
by The Wizard
Wed Jun 19, 2019 7:29 pm
Forum: Investing - Theory, News & General
Topic: Would it cause any problems reinvesting dividends a couple days after they are paid?
Replies: 14
Views: 1003

Re: Would it cause any problems reinvesting dividends a couple days after they are paid?

iamblessed wrote:
Wed Jun 19, 2019 7:18 pm
No wash sale if the fund is down?
Who said anything about wash sales?
by The Wizard
Tue Jun 18, 2019 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to estimate taxes during retirement?
Replies: 39
Views: 3069

Re: How to estimate taxes during retirement?

My tax computation at start of retirement, age 63,:was rather simple, since I had very low qualified dividends and no SS yet. So just estimate my AGI from annuity and 403(b) withdrawals and plug it into last year's tax return, with deductions the same. I'm well beyond the SS hump zone, so when SS st...
by The Wizard
Mon Jun 17, 2019 8:55 pm
Forum: Personal Investments
Topic: IRA and taxes. Is a taxable account better?
Replies: 8
Views: 848

Re: IRA and taxes. Is a taxable account better?

Pepper11 wrote:
Mon Jun 17, 2019 8:52 pm
It's an IRA and nothing within it has been deferred. It's all post tax income.
But as time goes on, it will GROW, and that growth is tax-deferred...
by The Wizard
Mon Jun 17, 2019 8:50 pm
Forum: Personal Investments
Topic: IRA and taxes. Is a taxable account better?
Replies: 8
Views: 848

Re: IRA and taxes. Is a taxable account better?

Now a 401(k) or 403(b) account should be totally tax deferred and treated entirely as ordinary income upon withdrawal...
by The Wizard
Mon Jun 17, 2019 8:48 pm
Forum: Personal Investments
Topic: IRA and taxes. Is a taxable account better?
Replies: 8
Views: 848

Re: IRA and taxes. Is a taxable account better?

That article is too simplistic and wrong, correct...
by The Wizard
Mon Jun 17, 2019 8:23 am
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3973

Re: TIRA to Roths? help Please

If total income in 2018 is $94k you are in the 12% Fed bracket MFJ. How do you come up with 24%? Cheers I double checked IRS tax brackets for 2018. It stated 24% for MFJ......$82,500- $165k. Obviously, I erred somewhere in my analysis. That range is for filing Single. MFJ is double that. https://ta...
by The Wizard
Sun Jun 16, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: ....Start SS at December of FRA?
Replies: 12
Views: 1382

Re: ....Start SS at December of FRA?

...[Watty, We have to be concerned about trying to convert too much to stay away from IRMAA threshold the two years prior to Part B ... which, alas, is right about now.... but looking again, max of 24% MFJ is 165k while IRMAA is 170K, just squeeks in... ] {yeah, I know, first world problems of havi...
by The Wizard
Sun Jun 16, 2019 4:43 pm
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3973

Re: TIRA to Roths? help Please

It's not just the next higher tax bracket, it's the total amount of tax that matters.
22% tax bracket goes from about $39k to $84k per person, a wide range.
Best not to have a 50% increase in Taxable Income once RMDs start.
But do as you please...
by The Wizard
Sun Jun 16, 2019 3:39 pm
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3973

Re: TIRA to Roths? help Please

...In general; it's best to convert and amount up to just below the next tax bracket. I don't agree. What if your Taxable Income before Roth conversion is just $500 below the top of the 12% bracket? Or what if it's $500 ABOVE the start of the 24% bracket? What's better is to use Roth conversions to...
by The Wizard
Wed Jun 12, 2019 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: RMD and expected life span
Replies: 30
Views: 2915

Re: RMD and expected life span

The IRS RMD tables take that into account and state the life expectancy "duration" at specific ages. Is the RMD designed so one dies with no money in the account? Life expectancy is the median, half will live longer and half will live less than the posted number. I hope the RMD is not that strict o...
by The Wizard
Wed Jun 12, 2019 8:11 am
Forum: Investing - Theory, News & General
Topic: Info request on your withdrawals in retirement
Replies: 13
Views: 1931

Re: Info request on your withdrawals in retirement

I retired at age 63 in 2013. Initially, I had around 25X annual expenses in my tax-deferred account, but I annuitized a significant portion of that for lifetime income. I started divorced spouse SS income at my FRA of 66 and will start my much larger age 70 SS benefit in nine months. My withdrawal m...
by The Wizard
Wed Jun 12, 2019 7:35 am
Forum: Personal Investments
Topic: Good Investments for 2-5 Years in Taxable
Replies: 33
Views: 4153

Re: Good Investments for 2-5 Years in Taxable

In my taxable account, I hold both VFIAX (S&P 500) and VTSAX (Total Stock Market) right now, due to a TLH maneuver a while back. These funds will be used to buy a new car every so often. I no longer hold any bond funds or savings accounts in taxable; I don't like paying additional ordinary income ta...
by The Wizard
Mon Jun 10, 2019 7:47 am
Forum: Investing - Theory, News & General
Topic: AA : willingness, ability, need
Replies: 24
Views: 2100

Re: AA : willingness, ability, need

The NEED criteria is the difficult one. Let's say you're 20 years from when you want to retire and don't have much saved for it. So does this mean your NEED is high and you should go 90% stock funds to catch up? I'm not sure; that could backfire. Or in case of a retiree with ample income streams who...
by The Wizard
Fri Jun 07, 2019 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Trad to Roth IRA
Replies: 5
Views: 525

Re: Trad to Roth IRA

Please read the Wiki. https://www.bogleheads.org/wiki/IRA_recharacterization Wondering if all the parts of the wiki page talking about recharacterizing a conversion should be deleted, now that it is not permitted anymore. Or at least separated out and put in a historical section. Yes, they should...
by The Wizard
Fri Jun 07, 2019 12:21 pm
Forum: Investing - Theory, News & General
Topic: Portfolio that maximizes number of profitable months
Replies: 5
Views: 441

Re: Portfolio that maximizes number of profitable months

In a platform I frequent, I've observed the phenomenon where some people invest in an asset only to close their position a few days later with a loss. However, if the assets they invest it are in the green, even if by a paltry amount, they seem content to keep the position open... Sounds like a los...
by The Wizard
Wed Jun 05, 2019 8:18 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 1993
Views: 208642

Re: U.S. stocks continue to soar!

...How do you load up after the dip? You leave cash on the sidelines and watch the market climb waiting for a dip? Load Up may be the wrong term, at least for me. I try to buy on the dips most months with excess New Money that hits my checking account each month. The S&P500 was trending lower Monda...
by The Wizard
Tue Jun 04, 2019 1:05 pm
Forum: Personal Consumer Issues
Topic: Walking Cities, potential for retirees
Replies: 102
Views: 10914

Re: Walking Cities, potential for retirees

Boston and Cambridge qualify.
I live 15 miles away now, but I'll be strolling about for two games at Fenway Park this coming weekend...
by The Wizard
Tue Jun 04, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Required Minimum Distributions
Replies: 61
Views: 5855

Re: Required Minimum Distributions

...Since our RMD's are fully funded by fund distributions - with the vast majority coming in December of the previous year... Hmm, stock fund dividends are around 2% per year right now. And I'm not up to speed on bond funds but aren't they around 3% per year? So I don't see how you get close to 4% ...
by The Wizard
Tue Jun 04, 2019 11:34 am
Forum: Personal Consumer Issues
Topic: Being given charity that I don't need
Replies: 51
Views: 5195

Re: Being given charity that I don't need

If you're paying in cash, just leave the change on the counter.

I get senior discounts on certain things and am quite okay with that, but they're nowhere close to 30%...
by The Wizard
Tue Jun 04, 2019 7:26 am
Forum: Personal Consumer Issues
Topic: Autos and transportation near retirement
Replies: 33
Views: 2340

Re: Autos and transportation near retirement

I'm single and retired in 2013 with two vehicles, a 2004 Ford Ranger pickup and a 2008 Mustang convertible, both bought new. As with some others here, I tend to use the truck for hauling things and in winter weather. I also use it at the girlfriend's place, with 10 acres of trees for firewood. The R...
by The Wizard
Sun Jun 02, 2019 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Older retirees: Are your expenses lower now than in early retirement?
Replies: 49
Views: 6626

Re: Older retirees: Do you have lower expenses now than you did in early retirement?

...I've been thinking if there's any good reason to delay SS "beyond" 70???? j :D No sure if your comment was in jest, but your SS benefit doesn’t increase after 70. So the answer is no. No is correct. And in my case, age 69 and living in New England, I continue to cut, split, and stack tons of har...
by The Wizard
Sun Jun 02, 2019 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Older retirees: Are your expenses lower now than in early retirement?
Replies: 49
Views: 6626

Re: Older retirees: Do you have lower expenses now than you did in early retirement?

Reroof your own home. . . . :shock: Wow!!! You are Formidable Indeed! Similar age and status. Now, everything hurts to do "what I used to do". :shock: I've been thinking if there's any good reason to delay SS "beyond" 70???? j :D I'm an engineer and did a significant addition to my house in my 30s/...
by The Wizard
Sun Jun 02, 2019 8:05 pm
Forum: Personal Investments
Topic: Maximum amount of Tax Loss Harvesting advisable per year?
Replies: 27
Views: 1635

Re: Maximum amount of Tax Loss Harvesting advisable per year?

Dumb question: What is the max TLH allowed in a tax year? Max TLH is unlimited... How much loss can you claim in one tax year? There is no limit per se. You can claim $1 million capital loss as long as you have $1 million in capital gains to offset it. What? No. Capital loss carry-forward is what h...
by The Wizard
Sun Jun 02, 2019 7:53 pm
Forum: Personal Investments
Topic: Maximum amount of Tax Loss Harvesting advisable per year?
Replies: 27
Views: 1635

Re: Maximum amount of Tax Loss Harvesting advisable per year?

mortfree wrote:
Sun Jun 02, 2019 7:44 pm
Dumb question:

What is the max TLH allowed in a tax year?
Max TLH is unlimited...
by The Wizard
Sun Jun 02, 2019 7:52 pm
Forum: Personal Investments
Topic: Maximum amount of Tax Loss Harvesting advisable per year?
Replies: 27
Views: 1635

Re: Maximum amount of Tax Loss Harvesting advisable per year?

Getting back to the OP's question, I plan to sell stock funds to buy a new car every so often.
So having $10-15k in capital losses would be a good idea in my case, for a $40k withdrawal.
Sadly, I don't think that will happen in two years...
:(
by The Wizard
Sat Jun 01, 2019 3:40 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12344
Views: 2132043

Re: U.S. stocks in free fall

That depends on how much money and how long. In my case, I'm dealing with <1% of portfolio value on the first of each month. And the goal is to get that excess cash invested in my taxable account on a good buying day during the month. Simple... Unless you can travel in the past, or you can see the ...
by The Wizard
Sat Jun 01, 2019 3:32 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12344
Views: 2132043

Re: U.S. stocks in free fall

lostdog wrote:
Fri May 31, 2019 8:22 pm

"The three fund portfolio is like a suit from Sears".

LMAO
Bankerton has his moments, yes...
by The Wizard
Sat Jun 01, 2019 8:51 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12344
Views: 2132043

Re: U.S. stocks in free fall

...If you have money to buy when there is a sale, you should have already had that money in the market. You shouldn't hold money around to buy when there is a sale. Time in the market, not timing the market. That depends on how much money and how long. In my case, I'm dealing with <1% of portfolio ...
by The Wizard
Sat Jun 01, 2019 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Required Minimum Distributions
Replies: 61
Views: 5855

Re: Required Minimum Distributions

I'm not sure there's a "best" way, but a really good way is to take twelve monthly payments on the early side of each month. Prior to turning age 70, how did you do it? I've been doing monthly withdrawals from tax-deferred since retiring at age 63. A portion of each monthly withdrawal has been an on...
by The Wizard
Sat Jun 01, 2019 7:58 am
Forum: Investing - Theory, News & General
Topic: Best day of the month to invest?
Replies: 41
Views: 4836

Re: Best day of the month to invest?

A similar logic applies to the related question: Is there a best day to Tax Loss Harvest during the year?

Again, we can't plan it in advance, but have to take it as it comes...
by The Wizard
Sat Jun 01, 2019 7:34 am
Forum: Investing - Theory, News & General
Topic: Best day of the month to invest?
Replies: 41
Views: 4836

Re: Best day of the month to invest?

Expanding on my earlier reply, the best day of the month to invest is not known in advance. As the month progresses, there will be better days and worse days to put new money in the market. It's a judgement call for sure and if using mutual funds, 3:45 ET is a good time to make it. Once you decide o...
by The Wizard
Fri May 31, 2019 8:01 pm
Forum: Personal Investments
Topic: Delay Social Security?
Replies: 35
Views: 3646

Re: Delay Social Security?

People are not reading/answering the OP's question.
The question is: When does it NOT make sense to delay SS?
by The Wizard
Fri May 31, 2019 7:57 pm
Forum: Personal Investments
Topic: Retirement Withdrawal Strategy Optimization - Estimating Retirement Tax
Replies: 8
Views: 1137

Re: Retirement Withdrawal Strategy Optimization - Estimating Retirement Tax

I think one standard optimization is to manage your yearly income so that capital gains + dividends + Roth IRA conversion - tax deductions = top of 12% tax bracket... I don't think that's going to work for those of us who have been in the 28% and now the 24% tax bracket since start of retirement. F...
by The Wizard
Fri May 31, 2019 7:05 pm
Forum: Personal Investments
Topic: Delay Social Security?
Replies: 35
Views: 3646

Re: Delay Social Security?

That's money I could be investing or using to reduce my withdrawals from higher taxed 401k savings. Don't forget you'll be required to take RMDs from the 401k. So one often recommended plan is to spend down your 401k a bit (if needed) while delaying SS and prior to beginning RMDs. Actually, a combo...
by The Wizard
Fri May 31, 2019 6:54 pm
Forum: Personal Investments
Topic: Delay Social Security?
Replies: 35
Views: 3646

Re: Delay Social Security?

Don't delay if you have a serious illness.
And don't delay if you have very modest savings...
by The Wizard
Fri May 31, 2019 6:38 pm
Forum: Investing - Theory, News & General
Topic: Best day of the month to invest?
Replies: 41
Views: 4836

Re: Best day of the month to invest?

I like to invest after a drop of 1% or more, around 3:45 pm on that day...