Search found 358 matches

by spencer99
Thu Jan 14, 2021 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Identity Protection PIN
Replies: 73
Views: 3685

Re: IRS Identity Protection PIN

RE this topic,

Received a helpful blog post from blogger and Boglehead poster TFB today. Link below.

https://thefinancebuff.com/irs-ip-pin-s ... fraud.html

S
by spencer99
Fri Dec 11, 2020 2:01 pm
Forum: Personal Investments
Topic: Can I make a purchase offsetting capital gains & losses?
Replies: 1
Views: 205

Can I make a purchase offsetting capital gains & losses?

Apologies for what I know is a really basic question, but I'm new to taxable account investment. Background : Earlier this year I thought I'd give tax loss harvesting a try. I sold Total Stock Market and bought S&P 500, locking in a small Total Stock Market capital loss. The potential tax saving...
by spencer99
Fri Jun 19, 2020 5:33 pm
Forum: Personal Investments
Topic: Help with husband's pension
Replies: 25
Views: 2341

Re: Help with husband's pension

AmandaH wrote: Fri Jun 19, 2020 5:30 pm Yes, it is 100% survivor benefit. If he passes first, I get the same amount. Amanda.
:beer
by spencer99
Fri Jun 19, 2020 5:25 pm
Forum: Personal Investments
Topic: Help with husband's pension
Replies: 25
Views: 2341

Re: Help with husband's pension

AmandaH wrote: Fri Jun 19, 2020 3:45 pm His pension would cover a nursing home. Social security and RMDS would cover mine.
It's unclear, but you do not reference the pension as a resource available to you (in this context). Is the pension being structured to offer a survivor benefit?

S
by spencer99
Fri Jun 19, 2020 3:19 pm
Forum: Personal Investments
Topic: Help with husband's pension
Replies: 25
Views: 2341

Re: Help with husband's pension

Suggest you (or responding bogleheads) analyze the following: take the lump sum as a rollover to a conservative investment, e.g. CD, use this amount to delay spouse's Social Security claiming until 69 or 70. (I second suggestion you look at the Open Social Security program). The additional $ you rec...
by spencer99
Mon Mar 30, 2020 10:13 pm
Forum: Personal Investments
Topic: How much should I pay a financial advisor?
Replies: 15
Views: 1236

Re: How much should I pay a financial advisor?

There is a poster here who will help locate the kind of advisor you want for a fee. Maybe someone will remind us who that is. I think you're referring to "The Finance Buff." Link: https://adviceonlyfinancial.com/?utm_source=thefinancebuff.com&utm_medium=referral&utm_campaign=menu S
by spencer99
Sat Mar 28, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: How are you going to use your stimulus money?
Replies: 222
Views: 13340

Re: How are you going to use your stimulus money?

At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the a...
by spencer99
Fri Mar 27, 2020 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Worth trimming 2020 income to reduce chance of clawback of stimulus check?
Replies: 11
Views: 1501

Re: Worth trimming 2020 income to reduce chance of clawback of stimulus check?

I'll be donating the whole stimulus and then some to my local social services organization. Demand for food and rent aid is way up already and homeless services will be needed more than ever for those who fall through the cracks of this bill. Yeah, me too. No judgment on anyone who acts differently...
by spencer99
Wed Mar 04, 2020 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2019 tax refund?
Replies: 111
Views: 8721

Re: How quickly did you receive your 2019 tax refund?

Two weeks

Filed 2/19/20
Refund deposited 3/4/20
by spencer99
Tue Feb 25, 2020 11:07 pm
Forum: Personal Investments
Topic: Roth IRA for 70 year old? - Retired
Replies: 13
Views: 1160

Re: Roth IRA for 70 year old? - Retired

Jason, You write that your mother is 70 and, Additionally, she has about 246k in a tIRA leftover from her years at work (also Total Stock/total Bond) that she will need to begin RMD's on by next year. Based on recent legislation (Secure Act) any person who reaches age 70 1/2 after 2019 will first be...
by spencer99
Sat Feb 22, 2020 7:57 pm
Forum: Personal Investments
Topic: Roth withdrawal requires tax withholding. Why?
Replies: 16
Views: 1484

Re: Roth withdrawal requires tax withholding. Why?

Often company plans will not allow you to withdraw just the Roth portion of a 401(k) plan. If you withdraw $10,000, that will be pro-rated between your pre-tax and post-tax holdings in your 401(k). So at least some of your withdrawal may be taxable. I wondered about that. I did a Roth conversion in...
by spencer99
Mon Feb 03, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Strategy for Divorced Mother
Replies: 7
Views: 861

Re: Social Security Strategy for Divorced Mother

Mike Piper has a great and complete book on Social security. It is not expensive. Amazon carries it. Hopefully Oblivious Investor will chime in. https://www.amazon.com/dp/099794658X/?tag=openss-20 For opensocialsecurity calculator in post above: Your mom will need to know his SS amount (PIA) at ful...
by spencer99
Wed Jan 22, 2020 9:28 pm
Forum: Personal Investments
Topic: Getting $2 Million in Cash! What do I do with it?
Replies: 75
Views: 6728

Re: Getting $2 Million in Cash! What do I do with it?

Jmustang81 wrote: Wed Jan 22, 2020 7:30 pm Is there any way to have a Vanguard PAS account with an advisor that is local? My parents wanna be able to sit down with a person and shake their hand. I say old fashioned but...
As long as they understand that's a really, REALLY expensive hand shake.

S
by spencer99
Sat Jan 04, 2020 12:40 pm
Forum: Personal Investments
Topic: fee only financial adviser
Replies: 4
Views: 432

Re: fee only financial adviser

can anyone recommend a fee only financial adviser in the Philadelphia area? or a good website where i could search for one? many thanks Take a look at this service offered by a blogger and BH member: https://adviceonlyfinancial.com/?utm_source=thefinancebuff.com&utm_medium=referral&utm_camp...
by spencer99
Wed Jan 01, 2020 2:49 pm
Forum: Personal Consumer Issues
Topic: Alternative to stairs?
Replies: 38
Views: 3393

Re: Alternative to stairs?

I read Bill Bryson's fascinating book "At Home" last year in which he writes about the history and use of each area in a family home. I recall him mentioning the high percentage of home injuries (not to just the elderly) that take place on stairs. I recall him writing that this is under re...
by spencer99
Wed Dec 04, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can you determine your estimated ex-spouse social security benefit if you don't communicate with your ex-spouse?
Replies: 13
Views: 1287

Re: Can you determine your estimated ex-spouse social security benefit if you don't communicate with your ex-spouse?

My circumstances were different from yours in that when I asked the question I was post FRA. (My ex was not yet 62) I called SS to ask about my ex's PIA. I was told that information could not be provided on the phone and that I should schedule an appointment at my local SS office. I did so and the S...
by spencer99
Tue Nov 12, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for Medicare Via Monthly Social Security Distribution
Replies: 6
Views: 788

Re: Paying for Medicare Via Monthly Social Security Distribution

Muddlehead, I first enrolled in Medicare in early 2017 and was not enrolled in Social Security at the time. I arranged to pay the Medicare premium through a monthly debit to my checking account (can't recall the process but info is readily available from SS). * See note below I applied for a spousal...
by spencer99
Tue Nov 05, 2019 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: First year QCD close to New Year's Eve
Replies: 11
Views: 812

Re: First year QCD close to New Year's Eve

OK, my comment is more to highlight a question I think you asked that has not been answered. Can you roll your first-year (2019) RMD (all or part) forward into the next year (2020)? - yes. Can you roll your 2019 QCD into 2020 as part of the 2019 RMD distribution taken in 2020? - I think not. I belie...
by spencer99
Tue Oct 22, 2019 7:19 pm
Forum: Personal Investments
Topic: Inherited American Funds
Replies: 8
Views: 913

Re: Inherited American Funds

Couple thoughts, As others have mentioned, take this a little slow. Get educated about your options (and you're in the right place to do so). Good advice by others to not deal with the salesman other than to transfer the funds. Do not be reticent about being explicit that your wishes are to limit ac...
by spencer99
Mon Oct 21, 2019 11:42 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of hiring a financial planner - any advice?
Replies: 29
Views: 2327

Re: Thinking of hiring a financial planner - any advice?

A well known blogger, The Finance Buff, has a service through which he recommends a suitable fee-only adviser for a reasonable fee. Google: The Finance Buff.
by spencer99
Sun Oct 20, 2019 7:06 pm
Forum: Personal Consumer Issues
Topic: Updgrade car for new safety features?
Replies: 77
Views: 5947

Re: Updgrade car for new safety features?

The following describes only my own behavior. I've been a fairly safe driver and probably a little lucky as well. In 50+ years of driving I've never had even a fender-bender with one exception – the other driver was intoxicated and rear ended my vehicle. But, I sometimes drive too fast, I occasional...
by spencer99
Sun Oct 13, 2019 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiaries on Retirement Accounts
Replies: 13
Views: 1601

Re: Beneficiaries on Retirement Accounts

My mom added me as a beneficiary to all her retirement accounts, but my step-dad is also listed as a beneficiary. That doesn't seem right to me. The way she explained it to me was that I would inherit her retirement accounts, and my step-dad's kids would inherit his retirement accounts. I'm making ...
by spencer99
Fri Oct 04, 2019 6:48 pm
Forum: Investing - Theory, News & General
Topic: Active management - Beware the 'inside view'
Replies: 3
Views: 1374

Active management - Beware the 'inside view'

I wanted to share a short article linked at the 'Abnormal Returns' website. The article, Active Management is Reliant on the 'Inside View,' written by Joe Wiggins references Kahneman and Tversky. It contrasts the 'inside view' and 'outside view' as we evaluate investment approaches. For me, it was a...
by spencer99
Sun Sep 15, 2019 10:48 am
Forum: Personal Finance (Not Investing)
Topic: social security benefit - confused about choosing start date
Replies: 35
Views: 3447

Re: social security benefit - confused about choosing start date

> I filed for (restricted) divorced spousal benefit this year. > I am post-FRA. > I filed three months in advance of my ex's 62nd birthday in June, 2019. I was explicit that I was filing effective June, 2019. > I was granted the spousal benefit effective in July, 2019 and received my first month's ...
by spencer99
Sat Sep 14, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: social security benefit - confused about choosing start date
Replies: 35
Views: 3447

Re: social security benefit - confused about choosing start date

Your SS benefit starts in January (the month you were born). However, your first check is paid in February since you are paid one month in arrears. There is a comment section on the form that you can explain in plain English what your intent is. The only time that you must be of a claimant age for ...
by spencer99
Wed Aug 14, 2019 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Overwhelmed with Social Security and Medicare Benefits for DM
Replies: 9
Views: 1415

Re: Overwhelmed with Social Security and Medicare Benefits for DM

I assume that she should: 1) sign up for Medicare Part A 2) not sign up for Medicare Part B (because she already has health insurance from work?) 3) delay taking her own SSN benefits now until age 70. I am not sure how to perform this calculation. 1) Be careful here if your mother is funding a HSA ...
by spencer99
Tue Aug 13, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Use Vanguard MM Prime for cash rather than local bank?
Replies: 69
Views: 8335

Re: Use Vanguard MM Prime for cash rather than local bank?

We have too much money in our bank's checking accounts that pay little or no interest. We are thinking of minimizing the amounts in these accounts and instead using Vanguard MM Prime to hold cash that we do not need on a day-to-day basis since MM Prime pays 2% or more. The only problem we foresee i...
by spencer99
Sat Jun 22, 2019 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: How long for spousal benefits to get approved?
Replies: 2
Views: 466

Re: How long for spousal benefits to get approved?

Barb, I filed a similar application this spring. Timeline of my experience (so far) below. Restricted spousal application filed online on March 12, 2019. (NOTE: application is based on my ex-spouse's record. She is age 62 in June, 2019. I am not clear on whether that makes me eligible for a benefit ...
by spencer99
Mon Jun 17, 2019 5:11 pm
Forum: Personal Consumer Issues
Topic: how is Home Depot's contractor service (for a water heater)?
Replies: 53
Views: 6252

Re: how is Home Depot's contractor service (for a water heater)?

I don't have information specific to replacement of a water heater but, A family member recently wanted to upgrade flooring prior to a condo sale. The Home Depot bid was expensive and unclear (seemingly containing a number of "uncertain" costs that could add significantly to final cost). T...
by spencer99
Thu May 30, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Naming beneficiaries for non-retirement accounts
Replies: 15
Views: 1468

Re: Naming beneficiaries for non-retirement accounts

I was just thinking about this the other day and found a helpful information page on the Vanguard website:

https://investor.vanguard.com/beneficia ... retirement

S
by spencer99
Sat May 04, 2019 7:40 pm
Forum: Investing - Theory, News & General
Topic: Wouldn't this make Traditional IRA far superior to Roth?
Replies: 82
Views: 9076

Re: Wouldn't this make Traditional IRA far superior to Roth?

Traditional IRA contributions are not always deductible. If you and/or your spouse are covered by an employer plan, there are income limits in place that may disallow the Traditional IRA deduction. For 2019, a taxpayer (filing single) with MAGI > 74K who is covered by an employer plan cannot take a...
by spencer99
Sat Mar 23, 2019 6:20 pm
Forum: Investing - Theory, News & General
Topic: Your thoughts on the teachings of Ed Slott
Replies: 56
Views: 7667

Re: Your thoughts on the teachings of Ed Slott

Another consideration I've seen discussed on the forum is that late-life high medical costs offers the opportunity to pair taxable tIRA withdrawals with substantial deductions resulting in little or no tax obligation. My own situation presents a possible, if perhaps less certain, argument for retain...
by spencer99
Sun Mar 17, 2019 11:05 am
Forum: Investing - Theory, News & General
Topic: Please fact check Vanguard statement RE Social Security
Replies: 6
Views: 1314

Re: Please fact check Vanguard statement RE Social Security

Thanks for everyone's help/advice and special thanks to Mike. His book and contribution to this forum is largely responsible for any understanding I have of an important part of my retirement plan.

Happy St. Paddys all. :sharebeer

S
by spencer99
Sat Mar 16, 2019 10:59 am
Forum: Investing - Theory, News & General
Topic: Please fact check Vanguard statement RE Social Security
Replies: 6
Views: 1314

Please fact check Vanguard statement RE Social Security

The statement below, from the Vanguard website, caught my eye as I think it varies from information I've gathered from Bogleheads and Mike Piper's book. "If you're going to collect on your ex's record—unlike collecting on your own record—there's no advantage to waiting past your ex's full retir...
by spencer99
Thu Mar 07, 2019 5:02 pm
Forum: Personal Investments
Topic: WRS Additional Contributions
Replies: 31
Views: 1457

Re: WRS Additional Contributions

I think maxing the Roth 457 would be the first thing to do. The interest gain withdrawals will be tax free where as the interest gain withdrawals from the WRS will not be. ^ This. I'm also a WRS member and would not contribute post-tax to a pension where earnings are then taxed when I could contrib...
by spencer99
Mon Feb 11, 2019 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 37557

Re: Smaller tax refunds this year? Clear explanation please

The article linked below by Matthew Yglesias offered the best explanation I've read. From the article: "And the big story here is that as a result of the new tax law, the Treasury Department tweaked things so that on average taxpayers’ withholdings fell by more than their actual taxes owed.&quo...
by spencer99
Fri Jan 04, 2019 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax loss harvesting - how simple can I make it?
Replies: 9
Views: 398

Re: Tax loss harvesting - how simple can I make it?

spencer99: You can make it very simple like I do: Simply exchange into a worry-free money market fund for 30 days, and then exchange back into your desired fund. The advantages: * If the 30-day interim fund goes up in value, the gain is taxed at income tax rates. Money Market funds do not have taxa...
by spencer99
Fri Jan 04, 2019 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Tax loss harvesting - how simple can I make it?
Replies: 9
Views: 398

Re: Tax loss harvesting - how simple can I make it?

livesoft wrote: Fri Jan 04, 2019 12:47 pm One can always learn to worry about things in the future if they want to. In the meantime, I wouldn't worry.
Got it. Thanks. And thank you too for your previous posts on this topic.

S
by spencer99
Fri Jan 04, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax loss harvesting - how simple can I make it?
Replies: 9
Views: 398

Re: Tax loss harvesting - how simple can I make it?

Simplicity is always nice, preventing problems from happening is always better than correcting them when they arise. OTOH, if you are retired and turn off dividend reinvestment wash sales should be pretty easy to avoid. Thanks mhalley, Yes, I could turn off dividend reinvestment but I hadn't planne...
by spencer99
Fri Jan 04, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Tax loss harvesting - how simple can I make it?
Replies: 9
Views: 398

Re: Tax loss harvesting - how simple can I make it?

The OP's approach is fine if the broker is Vanguard because 1. No commissions on Vanguard funds. 2. Vanguard will do any bookkeeping of wash sales for the investor, so there is nothing to worry about. 3. If you don't look at your account, then you wouldn't even know if you had a wash sale or not. 4...
by spencer99
Fri Jan 04, 2019 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Tax loss harvesting - how simple can I make it?
Replies: 9
Views: 398

Tax loss harvesting - how simple can I make it?

Hi, Thoughts appreciated on this approach to tax loss harvesting: My retirement savings are in tax-advantaged accounts, but I opened a first taxable account early in 2018. (Retired with no future access to tax-advantaged contribution) I thought I'd add a tax loss harvesting objective to my IPS and p...
by spencer99
Tue Jan 01, 2019 8:41 pm
Forum: Personal Investments
Topic: Social Security for wife
Replies: 10
Views: 879

Re: Social Security for wife

As a general rule, the spouse with the higher benefit should postpone until age 70 while the spouse with the lower benefit should claim at 62. I don’t know if the 8 years difference in your ages would alter the advice. This is a popular calculator on the forum that takes your personal information i...
by spencer99
Sun Nov 11, 2018 1:14 pm
Forum: Investing - Theory, News & General
Topic: Best Finance/Stock Market Films
Replies: 34
Views: 2192

Re: Best Finance/Stock Market Films

I enjoyed many of the movies others' have mentioned. OK, here are two that relate to finance more tangentially: "It's a Wonderful Life" for it's savings and loan sub topic. (Hey, it's coming up on holiday season!) "Tulip Fever" has a peripheral, but interesting, story line relati...
by spencer99
Fri Nov 09, 2018 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: State retirement pensions thoughts?
Replies: 46
Views: 5913

Re: State retirement pensions thoughts?

When it works well (mine is so far) it is pretty nice. Sometimes I feel I'm living in lala land. Others' very real concerns about sustainable withdrawal rates, longevity risk, market volatility, etc. are things that just do not impact me. It helps to be a beneficiary of one of the more responsibly r...
by spencer99
Thu Nov 01, 2018 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Spouse Diagnosed Non-curable Cancer -- what now?
Replies: 54
Views: 11277

Re: Spouse Diagnosed Non-curable Cancer -- what now?

My advice, as a fellow WM patient, is to live your life the same as if you did not have it. For me, this disease has been little more than a nuisance - constant monitoring with occasional treatment here and there. The worst part of the disease so far was the fear it caused in the first year after d...
by spencer99
Sat Oct 20, 2018 1:07 pm
Forum: Personal Investments
Topic: Portfolio Advice for beginner...
Replies: 5
Views: 830

Re: Portfolio Advice for beginner...

You have a 457b. So, I assume you are a public sector employee. That poses two questions: 1) Are you covered by a defined benefit pension? 2) Are you covered by Social Security? These factors may, but do not necessarily, affect your desired asset allocation. ... and Is your federal tax rate 35% afte...
by spencer99
Mon Oct 15, 2018 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security [impact of earnings on benefits]
Replies: 29
Views: 3023

Re: social security

CurlyDave wrote: Mon Oct 15, 2018 10:37 pm
CAGR of stocks has been ~10% for about a century. This beats the 8% guaranteed increase of SS benefits.
Dave,

It sounds like you may not agree but do you see how many would not consider an extremely risky/volatile investment as an alternative to almost perfectly secure, COLAed income?

S
by spencer99
Mon Oct 15, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security [impact of earnings on benefits]
Replies: 29
Views: 3023

Re: social security

Not sure the OP has provided enough background. > How realistic is a return to work? > Spouse's age? > How long spouse may continue to work? > Each spouse's projected PIA? It is possible that their relative ages, earnings, etc may result in OP's claim at 62 with spouse's future delay being reasonabl...
by spencer99
Wed Oct 03, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Plan For Depleting Your Investments If No Heirs?
Replies: 39
Views: 5162

Re: Plan For Depeting Your Investments If No Heirs?

Lots of good thoughts in this thread.

The advice that resonates most strongly for me is Taylor Larimore's choice: (I'm paraphrasing) To lock in a liability-matching income stream and then gift much of the remainder while you are alive and recipients are very likely to need/appreciate the help.

S
by spencer99
Fri Sep 21, 2018 6:40 pm
Forum: Investing - Theory, News & General
Topic: For those who use a 2 year cash(like) buffer, how do you know when to use it?
Replies: 67
Views: 6072

Re: For those who use a 2 year cash(like) buffer, how do you know when to use it?

Here's a thought - work out what your 2 year cash bucket is as a percentage of your portfolio, maintain that percentage by spending it down if necessary or rebalancing. Thanks Jo, that is the answer I was missing. There's something I'm not understanding here. It doesn't strike me that the "X y...