Search found 12273 matches

by The Wizard
Sun Dec 16, 2018 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: Which Funds to Take RMD From
Replies: 34
Views: 4379

Re: Which Funds to Take RMD From

...I do just the opposite of what you are suggesting. Pay no estimated taxes throughout the year and have my enire tax bill deducted (both fed and state) from my RMD which I take at the end of the year. That way all your money stays invested tax deferred throughout the year and you don't pay any ta...
by The Wizard
Sun Dec 16, 2018 5:41 pm
Forum: Personal Consumer Issues
Topic: Negril vs Montego Bay Jamaica
Replies: 12
Views: 685

Re: Negril vs Montego Bay Jamaica

...Is there an area in Montego Bay like 5th Ave in Playa Del Carmen? If you do a good AI, it won't matter, since food and drinks are included. There's a stretch of MoBay that our shuttle to Negril goes through that has a bunch of eating places, etc, but it certainly doesn't have the shopping mall c...
by The Wizard
Sun Dec 16, 2018 5:34 pm
Forum: Personal Consumer Issues
Topic: Negril vs Montego Bay Jamaica
Replies: 12
Views: 685

Re: Negril vs Montego Bay Jamaica

$6800.is high unless it's for two weeks or more.

You definitely want Negril for the best experience. MoBay is more of a city.
I've been to both Hedo and Couples in the greater Negril area probably ten times total. I don't do AI that often, but when I do, I go back to one of those places...
by The Wizard
Sat Dec 15, 2018 6:25 pm
Forum: Investing - Help with Personal Investments
Topic: Possible Recession and a Retiree's postulation?
Replies: 20
Views: 1961

Re: Possible Recession and a Retiree's postulation?

Well certainly the more income you have from pension/annuities and SS vs portfolio withdrawals, the more stable your situation. I'll be starting age 70 SS in March, 2020 which is seven years after I retired in 2013. So I'm reasonably confident after that point since portfolio withdrawals will then b...
by The Wizard
Fri Dec 14, 2018 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to Undo Backdoor Roth Completely
Replies: 17
Views: 2236

Re: How to Undo Backdoor Roth Completely

Read what nolesrule said.
The backdoor Roth IRA contribution doesn't count against your DC plan...
by The Wizard
Fri Dec 14, 2018 2:23 pm
Forum: Investing - Theory, News & General
Topic: Good reminder JNJ [Johnson and Johnson]
Replies: 9
Views: 1227

Re: Good reminder JNJ

Has JNJ announced a decrease in their dividend? Hard to detect sarcasm on a forum so I'll post this in case you're serious. https://www.cnbc.com/2018/12/14/johnson--johnson-shares-drop-on-reuters-report-that-the-company-knew-for-decades-of-asbestos-in-its-baby-powder.html No sarcasm. Companies have...
by The Wizard
Fri Dec 14, 2018 2:09 pm
Forum: Investing - Theory, News & General
Topic: Good reminder JNJ [Johnson and Johnson]
Replies: 9
Views: 1227

Re: Good reminder JNJ

Has JNJ announced a decrease in their dividend?
by The Wizard
Fri Dec 14, 2018 2:00 pm
Forum: Investing - Theory, News & General
Topic: Do Bogleheads Bucket?
Replies: 102
Views: 12052

Re: Do Bogleheads Bucket?

I think the line between a bucket portfolio and a standard Boglehead total return portfolio is very fuzzy. I think the difference is mainly how you look at it. Whether I hold a stock-bond mix and have some cash on the side, or hold 3 buckets - one with cash, one with bonds, and one with stocks - I ...
by The Wizard
Fri Dec 14, 2018 12:47 pm
Forum: Investing - Theory, News & General
Topic: Do Bogleheads Bucket?
Replies: 102
Views: 12052

Re: Do Bogleheads Bucket?

I think the line between a bucket portfolio and a standard Boglehead total return portfolio is very fuzzy. I think the difference is mainly how you look at it. Whether I hold a stock-bond mix and have some cash on the side, or hold 3 buckets - one with cash, one with bonds, and one with stocks - I ...
by The Wizard
Fri Dec 14, 2018 11:39 am
Forum: Personal Consumer Issues
Topic: Who else is doing home automation?
Replies: 64
Views: 3435

Re: Who else is doing home automation?

...If anyone knows of any home automation devices that are completely self-contained and don't connect to the Internet, I'd love to hear about those. That's an interesting point. If I was ambitious, I could disconnect the external internet cable from my primary router and see what happens. I would ...
by The Wizard
Fri Dec 14, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion No Brainer?
Replies: 40
Views: 1939

Re: Roth Conversion No Brainer?

Continuing the discussion, what should I look at to decide if I want to convert monies that push me into higher than the 12% bracket? You look at your projected Adjusted Gross Income at age 70 and beyond. That's 15 years away for you, so it won't be too precise initially. But if your MFJ AGI was go...
by The Wizard
Fri Dec 14, 2018 5:39 am
Forum: Investing - Theory, News & General
Topic: Early retirement mistakes???
Replies: 37
Views: 6128

Re: Early retirement mistakes???

I didn't know about Medicare IRMAA, but also didn't really know much about Medicare costs. I just assumed they would be insignificant. Also, I just maxed out contributions to my 401k while working -- in retrospect, this is not optimal, but not a huge deal -- I probably will have to pay more tax and...
by The Wizard
Thu Dec 13, 2018 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal in addition to RMD?
Replies: 5
Views: 258

Re: IRA withdrawal in addition to RMD?

I would say no, it doesn't make much sense to withdraw additional beyond you RMD if you don't need it, Roth or not. I'm doing modest Roth conversions now at age 68, but once I start RMDs in 2020, that will be the end of that. I'm in the 24% marginal bracket now and for the next few years prior to th...
by The Wizard
Thu Dec 13, 2018 4:13 pm
Forum: Personal Consumer Issues
Topic: Who else is doing home automation?
Replies: 64
Views: 3435

Re: Who else is doing home automation?

With a few WiFi-connected smart plugs you can turn anything on - like your robot vacuum. Hey Google, start my coffee. My robot vac stays docked when not in use; I'm not interested in powering down the dock to save a few milliwatts. In any case, my robot starts by either scheduling (which I don't pl...
by The Wizard
Thu Dec 13, 2018 4:02 pm
Forum: Personal Consumer Issues
Topic: Who else is doing home automation?
Replies: 64
Views: 3435

Re: Who else is doing home automation?

I'm pursuing this on a limited basis. I bought a WiFi enabled robot vacuum just a while ago. Previously had a first gen Roomba that wasn't super great. I just bought a few WiFi controlled switches for lights, mainly. We'll see how I like them before long. I see almost zero utility in trying to autom...
by The Wizard
Thu Dec 13, 2018 12:13 pm
Forum: Investing - Theory, News & General
Topic: [Robinhood to offer 3% cash management program, not a bank account]
Replies: 160
Views: 10039

Re: Robinhood to launch 3% Checking & Savings Accounts

interesting how people are upset about app v desktop. my wife hasnt had a computer in years and mine if often duplicative for everything but word processing. We don't use smartphones at all. They are useless to us, and the recurring and one-time costs extremely expensive. Also, doing financial tran...
by The Wizard
Tue Dec 11, 2018 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: Exceeded the Social Security Income Limit
Replies: 9
Views: 1447

Re: Exceeded the Social Security Income Limit

I exceeded the SS income maximum for many years.
It's a positive thing, not a negative...
by The Wizard
Tue Dec 11, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7721

Re: To each his own ( I guess ) [Opinions of traveling in retirement]

...Those folks who actually enjoy travel should be very grateful for folks that prefer to stay home or else the latest hip destination areas would be even more overrun. Excellent point. We need more baby boomers, etc to stay home and enjoy their local community. I've a trip to England booked for ne...
by The Wizard
Tue Dec 11, 2018 10:01 am
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7721

Re: To each his own ( I guess ) [Opinions of traveling in retirement]

I have always wanted to see Venice Italy. Now that I'm retired and have more time and money, I have read that Venice has approximately 30 million tourists per year and the number is rising. I think I'll go back to the beach and read about it. 8-) ... Venice is fine, just don't go in mid summer like...
by The Wizard
Tue Dec 11, 2018 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Is there a place for Growth in my portfolio?
Replies: 8
Views: 523

Re: Is there a place for Growth in my portfolio?

VSPMX isn't total stock market, it's mid caps.
Nonetheless, I would just plot performance of your funds over the past decade or so and compare to real total stock market, VTSAX.
If about the.same or better then why not just stay the course?
by The Wizard
Mon Dec 10, 2018 8:37 am
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7721

Re: To each his own ( I guess )

I'm interested in how others view travel, particularly in retirement. We've seen a lot of scenery... It's less about simply seeing stuff and more about DOING things. Have you hiked to the bottom of the Grand Canyon (and back up)? My most recent retirement trip, a month ago, was back to Bonaire for ...
by The Wizard
Sun Dec 09, 2018 6:21 pm
Forum: Investing - Help with Personal Investments
Topic: SPIA or CD Ladder
Replies: 31
Views: 2304

Re: SPIA or CD Ladder

I agree with Nisi's point and I did it backwards from what the OP is proposing. I retired at 63 and did some immediate annuities with TIAA for a handsome lifetime monthly income. Then additionally, I set up monthly withdrawals of $3000/month from my remaining tax-deferred 403(b) funds in lieu of SS ...
by The Wizard
Sat Dec 08, 2018 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: Short term or long term Roth conversions?
Replies: 3
Views: 372

Re: Short term or long term Roth conversions?

Roth conversions are ordinary income, no LT or ST involved...
by The Wizard
Fri Dec 07, 2018 8:20 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12006

Re: Why Retirement Is Broken And Needs To Be Reinvented

Bacchus01 wrote:
Fri Dec 07, 2018 7:59 pm

Social Security is not a pension. It’s an insurance plan, as stated right in the name.
I prefer to think of it as a reasonably guaranteed cash flow stream...
by The Wizard
Fri Dec 07, 2018 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion question
Replies: 13
Views: 769

Re: Backdoor Roth Conversion question

Thank you! Let me rephrase my question: I will be rolling over Traditional IRA (non 2018)to 401K to avoid taxation. But how much max I can add to 'non deductible new Traditional IRA ' this year? Which will eventually be moved to backdoor Roth. Understood that 'C' could be any amount. But how much I...
by The Wizard
Fri Dec 07, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: whether to take first distribution this year before RMD next year
Replies: 23
Views: 2252

Re: whether to take first distribution this year before RMD next year

There's some confusion here. You can definitely do Roth conversions each year after you turn 70.5, but you just have to take your entire RMD for each year first. I don't feel that Roth conversions in your 70s make financial sense for a single person, but they could be useful for a married couple and...
by The Wizard
Fri Dec 07, 2018 9:53 am
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12006

Re: Why Retirement Is Broken And Needs To Be Reinvented

Klang's people can't spend what they don't have. This is why it's important to have a 5% mandatory retirement plan contribution for all workers, from minimum wage on up. Combine this with an employer match of the same amount and you have a decent START at fixing the retirement problem. My own emplo...
by The Wizard
Fri Dec 07, 2018 6:53 am
Forum: Investing - Help with Personal Investments
Topic: Retirement planning--how many years of cash equiv should I aim to have?
Replies: 16
Views: 2337

Re: Retirement planning--how many years of cash equiv should I aim to have?

I'm another one with a zero cash bucket. I retired in 2013 and have pension/annuity income that covers the bulk of my expenses. I keep up to $10,000 iny checking to cover lumpy expenses but no longer have a savings account. Excess cash gets invested in VTSAX. I withdraw a few thousand dollars each m...
by The Wizard
Fri Dec 07, 2018 6:27 am
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12006

Re: Why Retirement Is Broken And Needs To Be Reinvented

Klang's people can't spend what they don't have. This is why it's important to have a 5% mandatory retirement plan contribution for all workers, from minimum wage on up. Combine this with an employer match of the same amount and you have a decent START at fixing the retirement problem. My own employ...
by The Wizard
Wed Dec 05, 2018 8:31 pm
Forum: Investing - Theory, News & General
Topic: Ytd return of sp 500
Replies: 5
Views: 713

Re: Ytd return of sp 500

Jimsad wrote:
Wed Dec 05, 2018 7:58 pm
Hi.
What is the YTD return for S&P 500 for 2018 as of dec 5, 2018?
Depends on whether you mean total return including dividends or not.
The annual Bogleheads contest excludes dividends...
by The Wizard
Tue Dec 04, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: NYT Article: The Myth of Steady Retirement Spending
Replies: 50
Views: 6978

Re: NYT Article: The Myth of Steady Retirement Spending

When I read these articles about spending changes with age, I usually wonder if it's voluntary or involuntary. It's possible that some folks have very modest retirement savings which they burn mostly through in the first 5-10 years of retirement and then subsist only on SS for their remaining years....
by The Wizard
Tue Dec 04, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: RMD after switching from INV to ADM shares
Replies: 5
Views: 429

Re: RMD after switching from INV to ADM shares

Did you have your RMDs set to auto-withdraw from a particular fund or funds? If so, the change to Admiral meant that Vanguard couldn't take from the stipulated fund because you didn't hold any of it anymore. That's a feature, not a bug--you don't want the autowithdrawal to start inventing sources w...
by The Wizard
Mon Dec 03, 2018 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA Avoidance Strategies
Replies: 20
Views: 1690

Re: IRMAA Avoidance Strategies

I made a lot of money in 2017. I just received my notice that my Medicare premium will be $428-whatever per month during 2019. I did the only thing I could do... I got married last month. :sharebeer Good news is: once your AGI is over $160,000 per person, you have a LOT of headroom before you hit t...
by The Wizard
Mon Dec 03, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3250

Re: Help me understand "Payout Rate" for an Annuity

Using annuities need not deprive heirs. To the extent that one is using the annuity for living expenses one is not depleting other investments as rapidly. For those who live long lives and thus make out well on the annuity they could save the heirs a good amount of money... Correct. I'm not too con...
by The Wizard
Mon Dec 03, 2018 4:15 am
Forum: Personal Finance (Not Investing)
Topic: whether to take first distribution this year before RMD next year
Replies: 23
Views: 2252

Re: whether to take first distribution this year before RMD next year

I'm in a similar situation with maximal SS plus RMDs starting in 2020. My income (AGI) without Roth conversions is higher than the OP's, so I've been doing rather modest Roth conversions most years since retiring in 2013, never more than $40k in one year. This brings my AGI up close to what it will ...
by The Wizard
Sun Dec 02, 2018 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3250

Re: Help me understand "Payout Rate" for an Annuity

Also, the idea of having a fixed term annuity certainly isn't for everyone.
In my case, a 20-year fixed term from age 63 to 83 would make me a bit nervous once I got to age 80 and am looking at a $5000/month drop in my income in a few years.
What if I live too long??
by The Wizard
Sun Dec 02, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3250

Re: Help me understand "Payout Rate" for an Annuity

Ok....thanks for the reply. So, can you provide a quantitative example with real numbers? I understand the concept, but does the "higher payout rates" really amount to anything meaningful? Well, I got payout rates of 6.45% at age 63 and 7.04% at age 66. These were lifetime annuities, single life, 1...
by The Wizard
Sun Dec 02, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3250

Re: Help me understand "Payout Rate" for an Annuity

I would only buy a lifetime immediate annuity and only if I was in decently good health. Those other fixed duration annuities don't have any mortality credits. In fact, I have bought such a product, from TIAA, and with a ten year guarantee period. I'm almost six years along at this point, so that's...
by The Wizard
Sat Dec 01, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3250

Re: Help me understand "Payout Rate" for an Annuity

I would only buy a lifetime immediate annuity and only if I was in decently good health. Those other fixed duration annuities don't have any mortality credits. In fact, I have bought such a product, from TIAA, and with a ten year guarantee period. I'm almost six years along at this point, so that's ...
by The Wizard
Sat Dec 01, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: "The Steak Dinner Annuity Pitch"
Replies: 68
Views: 7568

Re: "The Steak Dinner Annuity Pitch"

If I go to one of these steak dinners, I hope I can order my steak the way I like it.
If it comes overcooked, I'm leaving...
by The Wizard
Sat Dec 01, 2018 6:33 pm
Forum: Investing - Help with Personal Investments
Topic: Basic Bucket Theory
Replies: 40
Views: 3816

Re: Basic Bucket Theory

I see nothing wrong with the bucketing strategy in general. As some posters indicated above, this is essentially what many investors already do without knowing it (there is over $1 trillion in target date funds) and will provide theoretically identical results if you stick to the plan diligently......
by The Wizard
Sat Dec 01, 2018 11:56 am
Forum: Investing - Theory, News & General
Topic: Current Market Volatility
Replies: 29
Views: 2085

Re: Current Market Volatility

Market volatility doesn't bother me when it's volatile on the up side.
Only on the down side...
😁
by The Wizard
Sat Dec 01, 2018 9:44 am
Forum: Investing - Help with Personal Investments
Topic: Lost in Trees on Roth conversion and IRMMA
Replies: 16
Views: 1342

Re: Lost in Trees on Roth conversion and IRMMA

... I feel it's not a good idea to pay higher income taxes and IRMAA surcharges in your 60s than in your 70s, especially if filing Single. ... Can you elaborate a bit on why you feel this way? Thanks. (That's my boat.) It goes back to the fundamental principle that delaying taxes is preferable when...
by The Wizard
Sat Dec 01, 2018 8:53 am
Forum: Investing - Help with Personal Investments
Topic: Basic Bucket Theory
Replies: 40
Views: 3816

Re: Basic Bucket Theory

Ok, I am a bit confused. So if I understand some of the criticism, it is that I am making this too complex. So instead I could, hypothetically, add my different allocations up... for example if I had 3 buckets with these allocations 80/20, 50/50, 20/80 I could just have 1 bucket that is 50/50 and t...
by The Wizard
Sat Dec 01, 2018 8:39 am
Forum: Personal Consumer Issues
Topic: Robot Vacuum Cleaner?
Replies: 62
Views: 4802

Re: Robot Vacuum Cleaner?

lxr184 wrote:
Fri Nov 30, 2018 9:55 am
I've always wondered: if you have a pet and they have an accident, or leave a "present", what happens if the robot tries to clean it up (and then continues cleaning the rest of the house)?
I suspect you're gonna be up s*** Creek if that happens...
by The Wizard
Sat Dec 01, 2018 8:25 am
Forum: Investing - Help with Personal Investments
Topic: Lost in Trees on Roth conversion and IRMMA
Replies: 16
Views: 1342

Re: Lost in Trees on Roth conversion and IRMMA

I would enhance your spreadsheet to show monthly/annual projected income each year from now through your early to mid 70s. Actually, it's AGI that you want, so just include 85% of SS income. In my sheet, I assume 0% growth of my investments for simplicity, but then I update my numbers each January. ...
by The Wizard
Thu Nov 29, 2018 8:23 pm
Forum: Personal Consumer Issues
Topic: Robot Vacuum Cleaner?
Replies: 62
Views: 4802

Re: Robot Vacuum Cleaner?

Xiaomi Roborock S50, paid $420 and it has virtual mapping, scheduling, and all the features of the $800+ models. Highly - HIGHLY recommend. Have a yellow lab and run this thing daily and never find hair on the floor anymore. I know it’s not one of the main names- but I can’t tell you how much I val...
by The Wizard
Thu Nov 29, 2018 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: What would you do with $6,000 in gold and silver?
Replies: 40
Views: 3326

Re: What would you do with $6,000 in gold and silver?

You could start a jewelry making business!
by The Wizard
Thu Nov 29, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: First year with financial planner managing IRA did worse than index fund, should I pull out?
Replies: 24
Views: 2079

Re: First year with financial planner managing IRA did worse than index fund, should I pull out?

cashmere7807 Welcome to the forum. You post is hard to answer... Actually, it's pretty easy to answer. $4000 in fees on a $245k portfolio is terrible and is a significant hurdle to overcome each year. It's true that the OP hasn't told us what mix of investments that advisor has him in but that's a ...