Search found 12111 matches

by The Wizard
Tue Oct 23, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 50
Views: 1919

Re: When Will Attaining Millionaire Status Be Obsolete?

About 4% are millionaires right now. Average inflation is about 3.2%. In 32 years that is a factor of 2.74. So that would be about $400,000 in current dollars. About 25% of households currently have that much. Individual wealth is probably better for determining millionaire status. Or married house...
by The Wizard
Tue Oct 23, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 50
Views: 1919

Re: When Will Attaining Millionaire Status Be Obsolete?

Increasingly, "millionaire" is starting to mean someone with a seven figure INCOME per year...
by The Wizard
Tue Oct 23, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Help with asset allocation for a retired 65 yo?
Replies: 13
Views: 1194

Re: Help with asset allocation for a retired 65 yo?

Thanks for locating my first question. When I went back I could not find it. I am new to this. I apologize for doing it wrong. I just don't want all my info where everyone can see it. I tried to give you what I thought you could use to help. It sounds like you have enough income in retirement to li...
by The Wizard
Mon Oct 22, 2018 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Federal taxes in retirement
Replies: 25
Views: 2176

Re: Federal taxes in retirement

If you do your own taxes, or at least review them carefully, then you are familiar with Adjusted Gross Income (AGI). This was the dollar amount at the bottom of page one of form 1040 for the longest time. Its location may be changing this year. Anyhow, you need to estimate your AGI for your retireme...
by The Wizard
Mon Oct 22, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80663

Re: How much money do you want to retire?

I think we both agree that 1) People don't want to voluntarily retire during bear market. 2) People don't want to voluntarily retire during bull market. I have no idea if this discussion is helping any body at all :-) What I really think is that the people who do voluntarily retire, the type of mar...
by The Wizard
Sun Oct 21, 2018 5:37 pm
Forum: Personal Consumer Issues
Topic: Why Purchase an Automobile using Premium Gasoline?
Replies: 68
Views: 2868

Re: Why Purchase an Automobile using Premium Gasoline?

...There's a reason you now commonly see mid and full-sized trucks & SUVs, like the F150, with a v6 turbo option. And this is generally true across the board. Does turbocharging add cost to the vehicle/engine? Yes. Does a turbo require premium gas? Yes... My 2016 F-150 with 3.5 litre turbo does not...
by The Wizard
Sun Oct 21, 2018 12:37 pm
Forum: Personal Consumer Issues
Topic: Why Purchase an Automobile using Premium Gasoline?
Replies: 68
Views: 2868

Re: Why Purchase an Automobile using Premium Gasoline?

Automobiles using regular, unleaded gasoline typically, I think, get better mileage and have comparable torque and acceleration in my experience. Oh really, please tell me any cars that use regular, unleaded that can go 0-60 in less than 4.5 seconds? Right. A Mustang GT, for instance, will get you ...
by The Wizard
Sun Oct 21, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: First RMD is due last day of year
Replies: 31
Views: 1540

Re: First RMD is due last day of year

praxis wrote:
Sun Oct 21, 2018 9:56 am
Does my custodian file a different IRS form depending on whether my IRA withdrawal is intended as my RMD for a particular year or is it reported as any other IRA distribution?
Plain old 1099-R, nothing RMD specific...
by The Wizard
Sun Oct 21, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: First RMD is due last day of year
Replies: 31
Views: 1540

Re: First RMD is due last day of year

praxis wrote:
Sun Oct 21, 2018 8:52 am

...Wizard, what is the benefit of splitting my RMD into 12 monthly payments? Extending the appreciation
of the securities inside the IRA?
Uniform monthly cashflow.
Same as when you were working.
Same as SS.
Same as the portfolio withdrawals I've been doing for seven years prior to age 70...
by The Wizard
Sun Oct 21, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: First RMD is due last day of year
Replies: 31
Views: 1540

Re: First RMD is due last day of year

Just take 1/12 of your RMD on the 15th of each month starting in January.
This gives your custodian two weeks to set up the initial payment to you, should be no problem...
by The Wizard
Sat Oct 20, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 10156

Re: What do you consider 'enough'?

So here is a follow on question. Let’s assume that for whatever reason you end up with more than enough. Do you: 1) increase your lifestyle and if so how much, 2) simply watch the portfolio increase over time and probably end up with a larger legacy or end of life health care expenses, 3) give more...
by The Wizard
Fri Oct 19, 2018 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 112
Views: 6145

Re: Depositing Cash if it was gifted?

NextMil wrote:
Fri Oct 19, 2018 7:09 pm
I am going to start depositing $100 cash once a week for 100 weeks into my bank account.

Hopefully they will allow me to log on to my BH account from the hoosegow.
Yer asking fer trouble, m'boy.
The Feds will be on this like a fly on...uh...honey...
by The Wizard
Fri Oct 19, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 10156

Re: What do you consider 'enough'?

Does anyone out there in their working years have a way of figuring out what is 'enough' in terms of income to support their current lifestyle and to also save for the future? Depending on your job/career you need to think of more than your income. It's pretty hard to come to a set income level and...
by The Wizard
Fri Oct 19, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 112
Views: 6145

Re: Depositing Cash if it was gifted?

What constitutes structuring? Let’s say the OP has the money in a safe at home and doesn’t feel comfortable driving and depositing more than a couple thousand at one time. I’ve actually had tellers tell me “I can’t believe you are carrying $xxx” and it’s been well under $10,000. To midigate risk, t...
by The Wizard
Thu Oct 18, 2018 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 112
Views: 6145

Re: Depositing Cash if it was gifted?

The reported structuring seizures are beyond the magnitude of the OP's situation.
But for people engaged in an ongoing cash-focused business, CLEARLY you want to wait until you accumulate at least $11,000 before depositing it...
by The Wizard
Thu Oct 18, 2018 6:05 pm
Forum: Investing - Help with Personal Investments
Topic: Question on Total Bond Mkt or Treasuries for RMD in 3 years
Replies: 1
Views: 206

Re: Question on Total Bond Mkt or Treasuries for RMD in 3 years

You are over thinking it.
Decide on your preferred AA in that account based in the mix of funds you have.
Then withdraw pro rata from each fund for your RMD, thus maintaining your desired AA.
Even better, withdraw 1/12 of your RMD each month...
by The Wizard
Thu Oct 18, 2018 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: What the heck to do with $2M windfall
Replies: 22
Views: 4065

Re: What the heck to do with $2M windfall

In not seeing how the OP gets the next 25 years to age 60 with no employment or business income.
So is the $2.5M really a windfall or is it just living expenses for the next two decades?
by The Wizard
Thu Oct 18, 2018 3:45 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 10156

Re: What do you consider 'enough'?

When your bond allocation covers your retirement needs. 5M Although I would continue working These are asset based "enough" criteria. As mentioned several times, OP is looking for income based criteria. I like the 1/3 for expenses, 1/3 for taxes, and 1/3 for long-term savings/investment rule to dec...
by The Wizard
Wed Oct 17, 2018 9:13 pm
Forum: Investing - Theory, News & General
Topic: "Retirement age uncertainty increases the savings needed for success"
Replies: 48
Views: 4606

Re: "Retirement age uncertainty increases the savings needed for success"

...Your 1) I found amusing. I have a friend who is a college professor. Had you asked him 5 years ago how long he'd keep on teaching, he'd have given you the same answer your professor friend gave you -- maybe until 70! Fast forward to now, and changes in his department, funding issues, dealing wit...
by The Wizard
Wed Oct 17, 2018 4:28 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 10156

Re: What do you consider 'enough'?

Perhaps posts responding to the query, “What do you consider ‘enough’?” that fail to state the number the poster would consider “enough,” should be screened out by the moderator. That would prune the dozens of posts above to what: zero? As to Bogle’s book: the title says it all. Maybe add an exclam...
by The Wizard
Wed Oct 17, 2018 4:25 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 93
Views: 10156

Re: What do you consider 'enough'?

Enough income in retirement seems to be in the $100k to $150k per year zone.
During working years it could be the same or more, depending on number of people and expected number of years of employment...
by The Wizard
Tue Oct 16, 2018 9:19 am
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2016

Re: How much of a dip do you want before you TLH?

I set a $ amount (I do it when I can harvest a $5000 loss from a single fund) but I'll go lower if a short term loss is close to becoming a long term loss or if the year is almost over. What's the advantage of a short term loss vs a long term loss? That it can be used to counter short term gains?
by The Wizard
Tue Oct 16, 2018 9:17 am
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2016

Re: How much of a dip do you want before you TLH?

You'll need more than two TLH partner funds if you do it several times per month.
So that could make it messier...
by The Wizard
Mon Oct 15, 2018 6:36 am
Forum: Investing - Help with Personal Investments
Topic: Have you annuitized some of your money?
Replies: 67
Views: 5697

Re: Have you annuitized some of your money?

With regard to TIAA Traditional lifetime annuities, it's worth noting that the monthly payout consists of a guaranteed amount + additional amounts. If TIAA ever became financially stressed, they would simply dial down the additional amounts paid to annuitants by some percentage. But in the past five...
by The Wizard
Sun Oct 14, 2018 10:17 am
Forum: Investing - Help with Personal Investments
Topic: Have you annuitized some of your money?
Replies: 67
Views: 5697

Re: Have you annuitized some of your money?

...The annuitized income while only partially protected from inflation is very different than our portfolio investments... Actually, annuitized income based on CREF Stock or TREA is fairly similar to holding a stock index fund or a REIT fund in your portfolio, especially if you're using something l...
by The Wizard
Sun Oct 14, 2018 12:10 am
Forum: Investing - Help with Personal Investments
Topic: $50,000: Should I buy now or wait for the market to drop further?
Replies: 43
Views: 6902

Re: $50,000: Should I buy now or wait for the market to drop further?

stocknoob4111 wrote:
Sat Oct 13, 2018 11:48 pm
who said it is dropping further?
The crash is coming, from what I've heard...
by The Wizard
Sat Oct 13, 2018 11:29 pm
Forum: Investing - Help with Personal Investments
Topic: $50,000: Should I buy now or wait for the market to drop further?
Replies: 43
Views: 6902

Re: $50,000: Should I buy now or wait for the market to drop further?

Assuming you already have a checking account linked to your Vanguard account, you'll get the next closing price on mutual fund buys. Meaning 4 pm ET Monday...
by The Wizard
Sat Oct 13, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6636

Re: Just Divorced -- Need Help [looking for new credit card]

We need to get back to the OP's financial concerns and away from general divorce ranting...
by The Wizard
Sat Oct 13, 2018 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6636

Re: Just Divorced -- Need Help [looking for new credit card]

That's a very nice way of putting lipstick on a pig. :wink: I'm not sure the math works out as you claim (Kotlikoff of ESPlanner fame uses 1 1/2 times economy for those married). Still, it all seems fairly thermonuclear to me and well worth side-stepping. I'm not *sure* of it either and I'm not doi...
by The Wizard
Sat Oct 13, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6636

Re: Just Divorced -- Need Help

Baloney on the nuclear bomb. I got divorced in 1997 after 20+ years of marriage. It wasn't fun. We split assets 50/50. I made out fine in the end... You lost 50% of your assets. How is that not a nuclear bomb? I mean, I’m glad you’re positive about everything. They weren't *my* assets, you see? Tha...
by The Wizard
Sat Oct 13, 2018 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Have you annuitized some of your money?
Replies: 67
Views: 5697

Re: Have you annuitized some of your money?

I annuitized a hefty percentage of my tax deferred accumulation at start of retirement, age 63. Total retirement income then was annuity income plus an additional amount withdrawn from remaining tax deferred each month to bridge the seven years until start of SS at age 70. I wanted net income hittin...
by The Wizard
Sat Oct 13, 2018 2:41 am
Forum: Personal Consumer Issues
Topic: Census [Received form in mail]
Replies: 21
Views: 1751

Re: Census

...I would call the US Census dept directly... using known phone numbers.... found in having hard copy phone directory... you know, those paper things :P I've thrown all my phone books in the recycling bin years ago and suspect most others have also. One can probably find census bureau contact info...
by The Wizard
Sat Oct 13, 2018 2:21 am
Forum: Investing - Help with Personal Investments
Topic: Federal Reserve Thrift rollover to IRA prior to RMD
Replies: 2
Views: 278

Re: Federal Reserve Thrift rollover to IRA prior to RMD

I don't see any dollar amounts in your post but I would keep a good portion in the Federal reserve thrift plan. Check out the pension details. If you're in good health at age 70, you should be able to get at least a 7.5% annual payout with 10-year guarantee. I would pensionize enough to get at least...
by The Wizard
Fri Oct 12, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6636

Re: Just Divorced -- Need Help

As my divorce attorney said, divorce settlements are supposed to be equitable, but not necessarily equal. I doubt very much most divorces are split exactly down the middle, and assets can come in all forms, liquid, illiquid, taxable, pre-tax. A divorce is a hugely negative event, and much of the ti...
by The Wizard
Fri Oct 12, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6636

Re: Just Divorced -- Need Help

As my divorce attorney said, divorce settlements are supposed to be equitable, but not necessarily equal. I doubt very much most divorces are split exactly down the middle, and assets can come in all forms, liquid, illiquid, taxable, pre-tax. A divorce is a hugely negative event, and much of the ti...
by The Wizard
Fri Oct 12, 2018 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket
Replies: 12
Views: 836

Re: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket

Look at your income from all sources after you start taking RMDs. Include SS, any pensions, and all IRA/401(k) income. Check where that would put you in terms of income tax and IRMAA penalty fees. If you are close to an income tax bracket or IRMAA cut point, see what you can do to get below that po...
by The Wizard
Fri Oct 12, 2018 2:12 pm
Forum: Investing - Theory, News & General
Topic: Does it make sense to consider that stocks are 'on sale' when there's a correction?
Replies: 84
Views: 4288

Re: Does it make sense to consider that stocks are 'on sale' when there's a correction?

Stock prices are only weakly linked to academic theories and financial facts. Majority of pricing moves are based on emotional expectations. Stocks, in other words, tend to follow a random walk ;-). Hence Burton Malkiel "A Random Walk down Wall Street". So especially when talking about an S&P 500 o...
by The Wizard
Fri Oct 12, 2018 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket
Replies: 12
Views: 836

Re: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket

Electron wrote:
Fri Oct 12, 2018 1:16 pm
A key factor in the decision would be your projected tax bracket in retirement...
OP is already in retirement.
Rather than tax brackets, people need to look at projected income (AGI) before and after age 70.5 and then do Roth conversions in the early years to equalize income to a degree...
by The Wizard
Fri Oct 12, 2018 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket
Replies: 12
Views: 836

Re: Opinions about age 66 to 70 Roth Conversions - up to 12% or 22% bracket

Ignore tax brackets. Focus instead on AGI and IRMAA tiers. For example, a single person with projected AGI of $115,000 at age 70, including SS and RMDs but zero Roth conversions from age 70 on. In that case, I would try to do Roth conversions in my late 60s to bring AGI up to $110k or $112k. EXCEPT ...
by The Wizard
Fri Oct 12, 2018 8:58 am
Forum: Investing - Theory, News & General
Topic: Does it make sense to consider that stocks are 'on sale' when there's a correction?
Replies: 84
Views: 4288

Re: Does it make sense to consider that stocks are 'on sale' when there's a correction?

Maybe if we're only looking relative to very recent prices, but you don't have to go back that far to question why today's prices would be thought of as a "sale." I don't remember anyone claiming that VTI (Vanguard Total Stock Market ETF) was on sale at the beginning of 2018 when it was close to th...
by The Wizard
Fri Oct 12, 2018 5:50 am
Forum: Investing - Theory, News & General
Topic: Does it make sense to consider that stocks are 'on sale' when there's a correction?
Replies: 84
Views: 4288

Re: Does it make sense to consider that stocks are 'on sale' when there's a correction?

i love market corrections. who needs academic studies when the best indicator out there is CNBC "Markets in turmoil" Special reports. you may be early buying dips but that is when the serious money is made. keep it simple. Shouldn't "serious money" already be fully invested such that there's nothin...
by The Wizard
Fri Oct 12, 2018 5:45 am
Forum: Investing - Theory, News & General
Topic: Does it make sense to consider that stocks are 'on sale' when there's a correction?
Replies: 84
Views: 4288

Re: Does it make sense to consider that stocks are 'on sale' when there's a correction?

Maybe if we're only looking relative to very recent prices, but you don't have to go back that far to question why today's prices would be thought of as a "sale." I don't remember anyone claiming that VTI (Vanguard Total Stock Market ETF) was on sale at the beginning of 2018 when it was close to th...
by The Wizard
Fri Oct 12, 2018 4:57 am
Forum: Investing - Help with Personal Investments
Topic: Calculating amount needed for SS bridge
Replies: 50
Views: 2941

Re: Calculating amount needed for SS bridge

...Yes I know I've seen this recommendation many times before (more accurately, I've seen circular arguments concerning it many times before). My choice is strongly influenced by Bernstein's won the game concept as well as behavioral finance. Even more importantly, the choice is informed by my own ...
by The Wizard
Fri Oct 12, 2018 4:42 am
Forum: Investing - Help with Personal Investments
Topic: Calculating amount needed for SS bridge
Replies: 50
Views: 2941

Re: Calculating amount needed for SS bridge

...I like the 'rising glidepath' route as well. 60/40 seems pretty conservative if all your needs + some desires are covered by an inflation adjusted pension and social security. Perhaps start at 60/40 and end at 70/30 or so once social security kicks in. That will probably tend to happen over time...
by The Wizard
Fri Oct 12, 2018 4:35 am
Forum: Investing - Help with Personal Investments
Topic: Calculating amount needed for SS bridge
Replies: 50
Views: 2941

Re: Calculating amount needed for SS bridge

Another option could be an immediate annuity. $650k investment, 15 year, period certain, with CPI COLA would give you ~$54k/year For bridge amount, I would assume 0% real return i.e. my return would just keep up with inflation. Investing in an annuity would reduce the size of the bridge amount but ...
by The Wizard
Fri Oct 12, 2018 4:20 am
Forum: Investing - Theory, News & General
Topic: Does it make sense to consider that stocks are 'on sale' when there's a correction?
Replies: 84
Views: 4288

Re: Does it make sense to consider that stocks are 'on sale' when there's a correction?

Stock prices are only weakly linked to academic theories and financial facts. Majority of pricing moves are based on emotional expectations. So especially when talking about an S&P 500 or total market index fund, yes, those are definitely "on sale" now. Individual stocks like Tesla or Apple? Hmmm, I...
by The Wizard
Thu Oct 11, 2018 4:02 am
Forum: Investing - Help with Personal Investments
Topic: Calculating amount needed for SS bridge
Replies: 50
Views: 2941

Re: Calculating amount needed for SS bridge

...I bridged from age 62 to 70. I made sure I had say about 5 or 6 years worth of needed bridge funding set aside. I would supplement that as the years went by from taxable distributions, tax returns etc. and found that worked for me. A few years in my wife's took SS which lowered our gap, then lat...
by The Wizard
Wed Oct 10, 2018 8:52 pm
Forum: Personal Consumer Issues
Topic: Project FI promotion
Replies: 9
Views: 807

Re: Project FI promotion

FI base prices are too high , you can do better elsewhere , buying unlocked and skipping that "credit" Project Fi phones are unlocked to begin with, so that's a non issue if you decide to go elsewhere. I use less than 2 GB of cellular data most months so I'm good with Fi. Their seamless internation...
by The Wizard
Wed Oct 10, 2018 8:26 pm
Forum: Personal Consumer Issues
Topic: Project FI promotion
Replies: 9
Views: 807

Re: Project FI promotion

FI base prices are too high , you can do better elsewhere , buying unlocked and skipping that "credit" Project Fi phones are unlocked to begin with, so that's a non issue if you decide to go elsewhere. I use less than 2 GB of cellular data most months so I'm good with Fi. Their seamless internation...
by The Wizard
Wed Oct 10, 2018 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: confused about medicare threshold
Replies: 11
Views: 890

Re: confused about medicare threshold

What you might have seen was that Roth conversions do not change your direct Roth contribution MAGI. There are different MAGI calculations. The IRMAA MAGI calculations includes Roth conversions. Right. The IRS has a few different MAGIs to keep taxpayers off balance. But there's only one AGI so far ...