Search found 2097 matches

by Chip
Sun Jul 22, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Decumulation Sequencing
Replies: 8
Views: 1212

Re: Decumulation Sequencing

I agree except that I'd say "marginal 27% rate" instead of "phantom 27% bracket". There is nothing phantom about this; it's real money the tax man takes out of your pocket. Tomato, tomahto. Sure it's a real marginal rate. I called it phantom because it doesn't appear on any official tax rate schedu...
by Chip
Sun Jul 22, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term capital gains taxation question
Replies: 9
Views: 591

Re: Long-term capital gains taxation question

The amount below is taxed at 0% (there is a small mismatch between the top of 12% bracket and where the 0% CG limit is but that's a small adjustment in the big picture..... so roughly 77K of the 226K taxable is 0% tax; the rest is 15%. One addition to this is that depreciation recapture is generall...
by Chip
Sun Jul 22, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Decumulation Sequencing
Replies: 8
Views: 1212

Re: Decumulation Sequencing

Your current income profile puts you close to the "phantom" 27% bracket. That is, once your taxable income reaches the 77,200 limit for 0% QDI/LTCG tax rates, any additional ordinary income (such as Roth conversions) will by itself be taxed at 12%, PLUS it will cause an equal amount of QDI/LTCG to b...
by Chip
Sun Jul 22, 2018 8:01 am
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 27
Views: 1478

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

Although my complaint/question in this post was about TIAA, don't forget that Vanguard has apparently never recognized a "regular" PoA or DPoA. They *only* recognize their own "Agent Authorization" forms.Vanguard is at least "consistent" in that they don't allow full access under a simple non-durab...
by Chip
Sun Jul 22, 2018 6:11 am
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 27
Views: 1478

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

So... TIAA reps (2 of 'em) told us that a full PoA or any sort of agent authorization is NOT sufficient anymore for all access to the account information. I think this is outrageous. My understanding of how a full POA should work is that you should be able to ACT as the person who granted the POA. ...
by Chip
Sun Jul 22, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Joint Checking Account - Fidelity CMA vs. Schwab?
Replies: 41
Views: 4451

Re: Joint Checking Account - Fidelity CMA vs. Schwab?

For those with Fidelity CMA, does it work for direct credit card payments, i.e., is there a routing number and account number to withdraw from (not to deposit into, I know that exists, and also not BillPay)? Yes. As arf30 said it functions like a regular checking account. I have my credit card bill...
by Chip
Sun Jul 22, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: Joint Checking Account - Fidelity CMA vs. Schwab?
Replies: 41
Views: 4451

Re: Joint Checking Account - Fidelity CMA vs. Schwab?

On average, you lost about 1.02% from the best exchange rate anybody could have gotten at any time on the open market that day, while the daily range itself was 1%-2%. Thus I would say the evidence points towards there not being a 1% charge on ATM withdrawals. Thanks for reviving and answering an o...
by Chip
Sat Jul 21, 2018 1:10 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice, Please
Replies: 13
Views: 1063

Re: Portfolio Advice, Please

Could you say a bit more about the safety of holding Vanguard Funds on other platforms, and why that is different from the risks of holding everything at Vanguard? I respect my wife's concerns about safety, but want make sure she actually understands what you are saying: that not all Vanguard-avoid...
by Chip
Sat Jul 21, 2018 9:07 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice, Please
Replies: 13
Views: 1063

Re: Portfolio Advice, Please

While I can understand your wife's aversion to holding everything at Vanguard, I don't understand the concern with the funds themselves. She can buy Vanguard ETFs at Schwab. I do so at Fidelity. I also buy Schwab ETFs at Fidelity. I should say that with a 3M portfolio you should NOT worry about a $5...
by Chip
Sat Jul 21, 2018 7:42 am
Forum: Personal Consumer Issues
Topic: Garage door experts
Replies: 19
Views: 1253

Re: Garage door experts

Definitely use the same number of people to lower it as it took to lift it. Consider asking for heavy duty springs from your repair person. They last 3 times as long as standard-duty springs (~30k door cycles vs. ~10k). When my double door spring broke I replaced the slapped-together 3 spring mess d...
by Chip
Sat Jul 21, 2018 6:27 am
Forum: Personal Finance (Not Investing)
Topic: IRA Distribution or HELOC for Home Improvement
Replies: 10
Views: 374

Re: IRA Distribution or HELOC for Home Improvement

I think you'll have to work out a couple of proforma tax returns to understand the impact and answer these questions: Does the proposed IRA distribution plan impact the taxability of social security? What's the total tax impact over the next few years of doing one vs. the other? Also consider that y...
by Chip
Sat Jul 21, 2018 6:13 am
Forum: Investing - Theory, News & General
Topic: New Vanguard Security Code Requirement
Replies: 79
Views: 6495

Re: New Vanguard Security Code Requirement

What I'm curious about is how people prefer to receive their second factor code. I prefer to have mine emailed to me. Partially becuase I'm likely already on a computer, and have access to email. I recently enabled 2FA at Fidelity, after procrastinating for quite a while, thinking it would be a has...
by Chip
Fri Jul 20, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 34
Views: 2636

Re: International Stocks in Taxable?

Those reading along need to be aware that there are two ways the adjustment can kick in. The other one involves being in the 33% bracket (2017 rules) after subtracting QDI/net LTCG. Probably this will get realigned to the 32% bracket for 2018. If so it will impact Singles more than MFJ--the 32% bou...
by Chip
Fri Jul 20, 2018 7:27 am
Forum: Investing - Help with Personal Investments
Topic: Advice for someone just starting out?
Replies: 7
Views: 371

Re: Advice for someone just starting out?

Perhaps you could cover some of Dr. Bill Bernstein's "If You Can" essay?
by Chip
Fri Jul 20, 2018 7:23 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard 401k - VFIFX vs VFINX - How to evaluate expense ratios?
Replies: 5
Views: 418

Re: Vanguard 401k - VFIFX vs VFINX - How to evaluate expense ratios?

Welcome to the forum! I consider myself prepared for the ride and have prepared adequately in terms of emergency funds and long term focus How do you know that you're prepared for the ride from a behavioral standpoint? Have you been through a significant stock market correction with a significant am...
by Chip
Fri Jul 20, 2018 7:02 am
Forum: Investing - Help with Personal Investments
Topic: Adding to investment funds and capital gains
Replies: 2
Views: 161

Re: Adding to investment funds and capital gains

Welcome to the forum!

Each $2000 purchase is its own tax lot with its own capital gains "clock". IF you choose Specific Cost ID, which you should (vs. average cost).
by Chip
Fri Jul 20, 2018 6:59 am
Forum: Personal Consumer Issues
Topic: Home maintenance question - rust beneath caulk in tub
Replies: 12
Views: 914

Re: Home maintenance question - rust beneath caulk in tub

Take a look at POR-15. If you get any loose stuff off it will definately stick to rust and protect it. It can be painted over but within a certain time period and only with certain paints so not sure your enamal repair kit is compatable. Just an idea to look into. You know what they say, "rust neve...
by Chip
Fri Jul 20, 2018 6:39 am
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 34
Views: 2636

Re: International Stocks in Taxable?

I don't understand. I have XVUS. Last year, it produced about $1,400 ordinary dividend including $1,100 qualified dividend but the foreign tax paid is already about $110. I have nowhere near 20k qualified dividend. Am I misunderstanding something? I don't think you're misunderstanding. In your case...
by Chip
Fri Jul 20, 2018 5:45 am
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 34
Views: 2636

Re: International Stocks in Taxable?

I know this is hard to give an accurate answer to, but what dollar amount would you guestimate you have to have in your taxable account to generate around $20k in foreign dividends on normal performance years? First, the limitation kicks in at 20k of QUALIFIED dividends from foreign sources. As I'm...
by Chip
Thu Jul 19, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Paying credit card debt for a CA estate
Replies: 7
Views: 880

Re: Paying credit card debt for a CA estate

Thank you for your advice/experience. What form did the attorney file? I don't know. I never received any papers about the filing other than a bill for $20 from the attorney. I believe the $20 was the filing fee. I thought the will itself was filed by the attorney with the probate court. Sort of a ...
by Chip
Wed Jul 18, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 13341

Re: Early retirement

Perhaps we could benefit from a more objective definition. At least in the US, the government conveniently provides an objective measure that could be used. If you are eligible to contribute to an IRA of any type, then perhaps you are not retired? I don't know if that will do it. My wife had NQ sto...
by Chip
Wed Jul 18, 2018 12:46 pm
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 34
Views: 2636

Re: International Stocks in Taxable?

Does TurboTax or other prep software not handle that form? In OP's case he has an accountant I assume prepping the form. If paying someone I wouldn't worry about it at all. None of the tax software packages "handle" F1116 without significant manual intervention, though I think TurboTax may be the b...
by Chip
Wed Jul 18, 2018 7:17 am
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 34
Views: 2636

Re: International Stocks in Taxable?

tarmangani wrote:
Wed Jul 18, 2018 7:10 am
There's no complexity...your broker sends you a printout with a column labeled Foreign Tax Credit, which you or your accountant simply reports.
This is only true if foreign tax paid is under the $300/$600 limit.

Or unless you consider Form 1116 "not complex". :shock:
by Chip
Wed Jul 18, 2018 5:55 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax -- Forms 8814 and 8962 (Household income calculations for PTC)
Replies: 4
Views: 361

Re: Turbo Tax -- Forms 8814 and 8962 (Household income calculations for PTC)

47Percent wrote:
Tue Jul 17, 2018 11:40 pm
Subsequent to my call(s) they have admitted that this is a bug. They are working on a fix.

https://ttlc.intuit.com/questions/44898 ... -form-8814
Nice work running this to ground!
by Chip
Wed Jul 18, 2018 5:53 am
Forum: Investing - Help with Personal Investments
Topic: Consolidate and simplify
Replies: 11
Views: 1365

Re: Consolidate and simplify

This is a pretty significant bonus when you go from a couple bucks to a couple thousand, and why international funds are always best to hold in a taxable account when possible. I disagree with your conclusion that it's best for everyone . It is quite possible, after going through the complexities o...
by Chip
Mon Jul 16, 2018 4:28 pm
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 22
Views: 753

Re: Suggestions For Re-attaching a Closet Handle

When have some time, I will bring the handle to home depot get some help with screws/bolts. washers and nuts. Thank you for the help While you're there, take a look in the area where they have door latch sets. There may be a "dummy" escutcheon plate that could serve as your "washers" on the inside ...
by Chip
Mon Jul 16, 2018 11:48 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 22
Views: 753

Re: Suggestions For Re-attaching a Closet Handle

Since the door is hollow I like Phronesis's suggestion. You should buy large washers with a hole the size of the bolt (sometimes called a fender washer) in order to spread the force over as large an area of the door as possible. Don't overtighten. The golf tee idea that was mentioned isn't going to ...
by Chip
Mon Jul 16, 2018 11:21 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 22
Views: 753

Re: Suggestions For Re-attaching a Closet Handle

It is a hollow door and there is nothing on the other side of the door. The sister handle on the other door looks like it has some kind of mechanism on the inside to perhaps screw into. Is it hollow right where the handle is mounted? That would be very unusual as hollow doors are usually solid in t...
by Chip
Mon Jul 16, 2018 11:11 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 22
Views: 753

Re: Suggestions For Re-attaching a Closet Handle

Based on the photos it appears that there is no latch mechanism involved, so there probably isn't another handle on the inside and the screws holding the handle on have probably stripped out. I would expect that the door is solid in the area of the screw holes (vs. hollow, like the rest of the door)...
by Chip
Mon Jul 16, 2018 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Tax Hump vs. Tax Torpedo
Replies: 21
Views: 2307

Re: Social Security Tax Hump vs. Tax Torpedo

This is not true with MAGI within the region of the tax hump. Even though only 85% of SS is taxed, the tax rate is so high (46.25%) that the effect (46.25*.85 = 39.3%) is higher taxation than I would pay (22%) without SS. I don't think you're framing this correctly. Take any given tax situation, th...
by Chip
Mon Jul 16, 2018 8:05 am
Forum: Investing - Theory, News & General
Topic: Is rebalancing an advantage when holding a 3 fund portfolio instead of 2 or 1 fund portfolio?
Replies: 17
Views: 843

Re: Is rebalancing an advantage when holding a 3 fund portfolio instead of 2 or 1 fund portfolio?

No, I thought forums were designed for people to ask questions and communicate. Indeed they are. But some here, including me, would prefer to spend our time helping those who spend at least a little bit of time helping themselves by researching the vast resources of this forum. Those resources incl...
by Chip
Mon Jul 16, 2018 6:18 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2076

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

If you want additional thoughts on this you could review the thread on the exact same subject that you started here over a year ago.

[EU] Should I simplify my portfolio even further according to Buffett's recommendations?
by Chip
Mon Jul 16, 2018 3:49 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1589

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

Ok, I got it all figured out. I decided to file a 1040X as well. I think I figured out what happened. I used TurboTax and it thought I made 2 contributions (a traditional IRA and Roth IRA) so I paid a $330 excessive tax. Removed it. or the 1040X, if the amounts I put are unchanged (so change is 0)....
by Chip
Mon Jul 16, 2018 3:36 am
Forum: Investing - Help with Personal Investments
Topic: New Fidelity Solo 401k: FFNOX or FSTMX to start?
Replies: 6
Views: 473

Re: New Fidelity Solo 401k: FFNOX or FSTMX to start?

I think you did a good job of answering your own question.

Pick FFNOX, for the reasons you outlined. As you noted, ignore past performance differences.
by Chip
Sun Jul 15, 2018 6:33 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2076

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

Mr. Buffett said average Joe should stick to index funds. He also left this allocation for his wife, thus putting 2+2 together it makes most sense for me to do the same since I'm average Joe. You put 2+2 together and got 9. :D The recommendation for index funds is NOT a recommendation that you inve...
by Chip
Sun Jul 15, 2018 5:52 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2076

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

I'm thinking maybe I could make my stock portfolio even more simple and get rid of 30% VXUS and switch it to 90% VTI and 10% BND. Why? Because American companies still have their income coming from other countries outside US. Warren Buffett also advises low cost S&P index 90% and 10% bond index for...
by Chip
Fri Jul 13, 2018 4:18 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1589

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

I called the IRS, one thing they mentioned for 8606 in line 6, I need to put the balance of all my IRAs. Well, I only have a Roth IRA and I have a balance before 2016, let's say it's $40,000. He mentioned I needed to do that to satisfy this form going out. That line says only traditional and SEP, n...
by Chip
Wed Jul 11, 2018 5:49 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Spending - which account?
Replies: 4
Views: 693

Re: Retirement Spending - which account?

You have 30% of your assets in taxable accounts. If you spent only from taxable at a 4% withdrawal rate it would likely last you just over 7 years (7*4%=28%), which coincidentally will be the amount of time after you retire before RMDs and SS kick in. So conceivably you could spend only from taxable...
by Chip
Tue Jul 10, 2018 4:40 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 5
Views: 669

Re: Portfolio Review

I had not considered excluding VBTLX in taxable. In theory, I understand thinking of the portfolio as a whole - in practice it is a little more challenging. I am not fully understanding the comment on VEXAX and need to research further. Assuming your VA tax rate is 5.75%, your total marginal tax ra...
by Chip
Mon Jul 09, 2018 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 5
Views: 669

Re: Portfolio Review

Hi, and welcome to the public side! Just a few quick comments as I don't have time right now to do a thorough review. Maybe later. Please excuse any curtness. Your overall allocation goals seem fine, both now and in the future. Though you may want to go ahead and move to at least 60/40 now since it ...
by Chip
Sun Jul 08, 2018 11:44 am
Forum: Personal Consumer Issues
Topic: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?
Replies: 95
Views: 5366

Re: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?

That is why I am asking - have a 2002 Honda and a 2006 Honda and neither have had a brake fluid flush nor have they had a caliper problem. NE environment, out in snow, no garage for these cars. Maybe you've been lucky or I've been unlucky. I note in the above post about manufacturers recommendation...
by Chip
Sun Jul 08, 2018 9:54 am
Forum: Personal Consumer Issues
Topic: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?
Replies: 95
Views: 5366

Re: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?

This is absolutely true and has been that way forever. Most all use the same type of fluid and the systems are mostly sealed .So why do some vehicle handbooks not require brake fluid flushes at all? Why is it that most vehicles never get a fluid flush and are absolutely fine 20 years later? Just cu...
by Chip
Sun Jul 08, 2018 5:58 am
Forum: Personal Consumer Issues
Topic: $50+ gas bill for $4 in gas?
Replies: 16
Views: 3031

Re: $50+ gas bill for $4 in gas?

Have other people noticed this trend of raising the fixed fees on utilities resulting in higher bills regardless of usage? I suspect that now that you can (at least here in IL) choose a different gas supplier other than the distributor the gas company has pushed for higher fixed fees. Welcome to th...
by Chip
Sun Jul 08, 2018 5:43 am
Forum: Personal Finance (Not Investing)
Topic: IRS letter on my 2016 return - taxes on backdoor Roth??
Replies: 10
Views: 2024

Re: IRS letter on my 2016 return - taxes on backdoor Roth??

I received one today too. By chance, did you use HR Block online for filing? Please check and make sure that the 2016 Form 8606 you filed is correct. It should look very similar to the one in this post . In particular, Lines 16-18 must be filled out and Line 18 should be zero or some relatively sma...
by Chip
Sat Jul 07, 2018 11:54 am
Forum: Personal Consumer Issues
Topic: garden hose
Replies: 46
Views: 4690

Re: garden hose

I need to replace my garden hose after 30 years plus. It is a black hose that I got at Sears. Any recommendations would be appreciated. I have those same hoses (Craftsman). The fittings on the ones I bought in the 80s started failing several years ago. I took them to Sears and they gave me complete...
by Chip
Sat Jul 07, 2018 7:07 am
Forum: Personal Consumer Issues
Topic: Replace car battery after X years or wait till it dies?
Replies: 162
Views: 19326

Re: Replace car battery after X years or wait till it dies?

Living in the midwest, and replacing my batteries only when they show signs of weakness or have actually failed, I have only once in almost 30 years driving had a battery last 6 years. 5 years is about the max, and I had one car that chewed through them every 6 months or so. When the 4-year-old bat...
by Chip
Sat Jul 07, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: IRS letter on my 2016 return - taxes on backdoor Roth??
Replies: 10
Views: 2024

Re: IRS letter on my 2016 return - taxes on backdoor Roth??

It appears from a few posts here that the IRS computers may be producing CP2000s for 2016 backdoor Roths that were reported correctly on returns. That seems to be the case you're describing. Here's my take on how to deal with that situation from another thread: https://www.bogleheads.org/forum/viewt...
by Chip
Thu Jul 05, 2018 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio check-up/review, advice for next major steps
Replies: 6
Views: 645

Re: Portfolio check-up/review, advice for next major steps

A couple of other thoughts: I assume you have health insurance through your employer. If there is an HSA (health savings account) compliant option you might examine that and see if it fits your situation. At 30 I had very little in medical expenses, though you may be different. An HSA would be a pla...