Search found 28 matches

by sengsational
Sun Nov 20, 2022 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Changing Owner on New Hampshire 529 (Fidelity)
Replies: 8
Views: 1077

Re: Changing Owner on New Hampshire 529 (Fidelity)

sengsational wrote: Thu Nov 17, 2022 1:11 pm....
unless someone chimes in here and gives me an alternative proven procedure.
No first hand experience on owner change?
by sengsational
Thu Nov 17, 2022 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Changing Owner on New Hampshire 529 (Fidelity)
Replies: 8
Views: 1077

Re: Changing Owner on New Hampshire 529 (Fidelity)

The only other option seems to be moving the account to a different state that allows the transfer of owners. Unless you can find something in the NH plan documentation that provides an exemption. Thanks for the response. That's the conclusion I'm coming to (move to different state before the transfer). Even though Connecticut is supposed to allow transfers, reading the PDF from Fidelity does not show CT as a special case with respect to changing owner. So I'm not inclined to keep the 529 at Fidelity, fearing I'd change from NH to CT and still get the same treatment (close the account and probably get a 1099). I've reviewed the details and talked to the reps for the Colorodo plan (administered by Vanguard). Although their PDF says "co...
by sengsational
Thu Nov 17, 2022 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Changing Owner on New Hampshire 529 (Fidelity)
Replies: 8
Views: 1077

Re: Changing Owner on New Hampshire 529 (Fidelity)

rkhusky wrote: Thu Nov 17, 2022 9:41 am What percentage of the account balance is contribution vs earnings?
Yes, good question. If it were a new account, it wouldn't make too much difference. But it was opened in 1998 and gains make up 63% of the balance. And it's worth 50K or so. She selected a school with in-state tuition, and thus, the leftovers.
by sengsational
Thu Nov 17, 2022 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Educating Myself on Medicare
Replies: 23
Views: 2210

Re: Educating Myself on Medicare

Presuming you go the traditional medicare plus medigap route, I'd offer that if anyone wants to "help you" get a medigap plan and doesn't lead with the basics on pricing [Attained-Age vs. Issue-Age vs. Community-Rated Medigap Plans ... for definitions, see: https://www.bogleheads.org/wiki/Medicare#Supplemental_plans_(Medigap) ] as well as a mention of the business practice of "closing the book", they haven't placed your interests ahead of other interests, or is incompetent. So if someone tries to sell you on Mutual of Omaha, for instance, without telling you they play this close the book game, they're not doing you any favors. The practice of "closing the book" occurs when the claims from the specific group of ...
by sengsational
Thu Nov 17, 2022 8:59 am
Forum: US Chapters
Topic: Suggestions for the Wiki
Replies: 694
Views: 535326

Re: 529 Ownership Change Table

sengsational wrote: Thu Nov 17, 2022 8:16 am I'm not authorized to contribute to the wiki, but it's been noted that the table in the wiki on this page [ https://www.bogleheads.org/wiki/529_pla ... ip_changes ] doesn't align precisely with the source [ https://www.savingforcollege.com/compar ... _type_id=1 ].
Actually, I'm thinking the table might be aligned after all, and it's my brain that's mis-aligned :shock:
by sengsational
Thu Nov 17, 2022 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Changing Owner on New Hampshire 529 (Fidelity)
Replies: 8
Views: 1077

Re: Changing Owner on New Hampshire 529 (Fidelity)

According to the Wiki, Delaware appears to have the same rule as NH. Confirmed here (although a better confirmation would be from the NH and DE documents): https://www.savingforcollege.com/compare-529-plans/results?plan_question_id=78&plan_type_id=1 Thanks for that link. Great resource. I made a post about updating the wiki: https://www.bogleheads.org/forum/viewtopic.php?p=6966594#p6966594 I only selected Delaware because it 1) was managed by Fidelity and 2) was on Clark Howard's top 529 list and 3) appeared to allow owner changes (later proven false). So, let's take Delaware out of the mix and update the question to just getting the owner changed without tax consequences if the current account is New Hampshire based. ETA: It looks lik...
by sengsational
Thu Nov 17, 2022 8:16 am
Forum: US Chapters
Topic: Suggestions for the Wiki
Replies: 694
Views: 535326

529 Ownership Change Table

I'm not authorized to contribute to the wiki, but it's been noted that the table in the wiki on this page [ https://www.bogleheads.org/wiki/529_pla ... ip_changes ] doesn't align precisely with the source [ https://www.savingforcollege.com/compar ... _type_id=1 ].
by sengsational
Wed Nov 16, 2022 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Changing Owner on New Hampshire 529 (Fidelity)
Replies: 8
Views: 1077

Changing Owner on New Hampshire 529 (Fidelity)

I'm the "Successor Participant (Account Owner)" of a Fidelity "Unique" (New Hampshire) 529 account with my adult daughter as beneficiary. I want her to be the "... Account Owner" now. I read on https://www.bogleheads.org/wiki/529_plan_account_transfers#Ownership_changes that "Account ownership may not be transferred prior to the owner's death or incapacity" for New Hampshire, so my plan was to move the funds to Fidelity's Delaware 529, then change the owner. When I called Fidelity 529 department, the rep said because I don't live in New Hampshire state tax wouldn't be a factor, and that I should: Have my daughter open an empty 529 account Write a letter instructing Fidelity to move the balance from my...
by sengsational
Thu Jun 30, 2022 1:21 pm
Forum: Personal Investments
Topic: Deciding the order of accounts to pull from in retirement
Replies: 22
Views: 5379

Re: Deciding the order of accounts to pull from in retirement

I used I-ORP.com, extended calculator to calculate my situation for withdrawals. i-orp has been returning a page "The Optimal Retirement Planner is offline" for quite some time. Has anyone been in contact with James lately? In the past he's replied to mail on orplanner, but a note in February went unanswered. I didn't think much about it, but a more recent one also went unanswered. I found a resume (cached), but it's from 2015 https://webcache.googleusercontent.com/search?q=cache:hDBOfPSWKGAJ:https://i-orp.com/modeldescription/resumeshort.pdf+&cd=1&hl=en&ct=clnk&gl=us i-orp was my go-to for comparing various approaches to pull from various accounts in retirement. I hope it's not gone for good. Here's a bit from Ji...
by sengsational
Tue Feb 14, 2017 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone using i-orp as a guide for withdrawals?
Replies: 44
Views: 9291

Re: Anyone using i-orp as a guide for withdrawals?

The numbers were obviously too high and upon inspection I discovered the tax calculations didn't make any sense. But that was a while ago, they may have worked on the tax part. It isn't easy though, you basically have to replicate tax software to do this right and have it work for a wide audience. I have been using i-orp for a long time, but with eyes wide open with respect to it's limitations. The tax calculations for me are not the issue, and in fact for the RMD years, I trust it's probably doing a good enough job. The reason (for me) that the spend number was "too high" was because in a single run of i-orp, there is zero chance of a "sequence of returns" disaster. This is because it presumes a nice smooth growth for ...
by sengsational
Tue Feb 14, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Using PE10 to limit withdrawal rate
Replies: 8
Views: 2261

Re: Using PE10 to limit withdrawal rate

heyyou wrote: So has Michael McClung in Living Off Your Money.
Thanks for the pointer to that. I just defined a function, completely out of thin air, but that looked like it smoothed the bumps. I never even searched for someone who was there before me (although I knew there had to be).
by sengsational
Tue Feb 14, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Using PE10 to limit withdrawal rate
Replies: 8
Views: 2261

Re: Using PE10 to limit withdrawal rate

Most CAPE10 things make two relatively large errors: they are historically anachronistic and they don't mimic your actual asset allocation. I'm not worried about the average PE10. If the current PE is near the historical average, nothing happens to limit withdrawals. And the average has been pretty stable. Yeah, the first few years, kinda wild, but if you call historical average 15 or 16, and today's PE10 is 28, what you pick for the average isn't a sensitive input. https://i.stack.imgur.com/bolEc.png They also tend to ignore your actual asset allocation. I have 16% of my portfolio in Emerging Markets. Are they undervalued or overvalued according to CAPE10? This is true: other asset classes beyond US equities are not perfectly correlated. ...
by sengsational
Mon Feb 13, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Withdrawal Strategy
Replies: 3
Views: 874

Re: Variable Withdrawal Strategy

I should have searched harder before I started a new thread!
by sengsational
Mon Feb 13, 2017 5:06 pm
Forum: Investing - Theory, News & General
Topic: Variable Percentage Withdrawal (VPW)
Replies: 2256
Views: 605713

Re: Variable Percentage Withdrawal (VPW)

This is an interesting sheet / technique. I had not run into it until I started on a separate project that has the same kind of flavor to it.

Not wanting to hijack this thread, I've started a new one: viewtopic.php?f=10&t=210958#p3237343
by sengsational
Mon Feb 13, 2017 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Using PE10 to limit withdrawal rate
Replies: 8
Views: 2261

Using PE10 to limit withdrawal rate

I've been toying with the idea to use the retiree's current investment balance, the equities allocation percent, and also the current market's PE10 / CAPE, all to calculate a withdrawal rate. The idea is that if the market is in the "historically high" range, and you're heavy in equities, then some of that money is likely to be taken back, and maybe can't support a withdrawal rate as well as if the market wasn't so far above historical averages. So let's say you determine an optimal spend based on a flat 6% gain in equities, 3% bonds, and 2.5% inflation (a-la i-orp). We all know that sequence of returns will play havoc with that, but let's take that optimal spend amount as a starting point. Now, say you have 35 years left in your ...
by sengsational
Thu Jan 19, 2017 10:09 am
Forum: Investing - Theory, News & General
Topic: PE10: Can someone explain multpl.com results from Shiller's data?
Replies: 0
Views: 469

PE10: Can someone explain multpl.com results from Shiller's data?

When I compare the PE10 from the source (http://www.econ.yale.edu/~shiller/data/chapt26.xlsx) to what I find on (http://www.multpl.com/shiller-pe/table), it's not the same. Can someone explain the math that would transform the source data to this other value?
by sengsational
Sat Dec 19, 2015 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 327
Views: 64133

Re: Vanguard TurboTax - Not Available 2015?

2015 Block

It says $9.95 on the mailing folder. $14.95 if you want the state.

iso: https://drive.google.com/open?id=0B5wbK ... FJRLTc4NjQ
by sengsational
Wed Apr 29, 2015 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 1807
Views: 543921

i-orp Comparison

I spent quite a while trying to "import" the test model from i-orp to RPM. First I ran the macro to clear out the starting data. I've got it so you can paste-in the i-orp parameters (bottom of the results tab), and those should go to the right input fields in RPM. I manually figured the spend less taxes from the i-orp output and I made a spot to add that. The next step, done manually, is to key-in the Roth conversions from the i-orp page into the RPM setup page. That should do it...the models should be similar, but I'm just not getting a similar result. It looks like it's doing some kind of Roth conversion spread over a lot more years than I've keyed-in. I've added a tab that has the output from i-orp, but I just can't figure out ...
by sengsational
Tue Apr 28, 2015 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 1807
Views: 543921

Re: Dipping a Toe In - a cookbook to loading an i-orp model

BigFoot48 wrote:The test result, along with the factors used, is shown at the bottom of the Results page below the yellow line (currently line 692). The mapping of the ORP factors used in RPM is also shown here, providing a partial help to those using both models should they stumble across this section.
I didn't stumble upon that bit of work. Thanks for the guidance. That's pretty much has everything I was looking for (the mapping between i-orp and your model is done). I think this is the gateway drug to full RPM addiction.
by sengsational
Mon Apr 27, 2015 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 1807
Views: 543921

Dipping a Toe In - a cookbook to loading an i-orp model

I will admit that I've tried before, never quite got a level of comfort with the model, and gave-up. I thought I would try again, and while doing so, had an idea that might widen the audience for the model: a set of step-by-step instructions for loading a model from i-orp. The good news with a model like this is that it does so much. The bad news is that it can be overwhelming at the start. I consider myself to be a decent spreadsheet jockey and I've fiddled around with quite a few retirement models, but I'm pretty much slammed when I try to get going with my data in this sheet. Since i-orp has so many fewer inputs, it's easier to get started. i-orp doesn't have the precision, of course, but it spits out a workable model output, and it also...
by sengsational
Mon Sep 09, 2013 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Money Out of the 529 Account
Replies: 4
Views: 982

Re: Getting Money Out of the 529 Account

Thanks for doing that research. It sounds like the qualified higher education expenses outflows and the scholarship rule outflows both fall into the same category with respect to the timing (aligning in the calendar year incurred/experienced). I had not made that conclusion, but I think it sounds reasonable, now that you mention it. I've got scholarship offsets going back years that I "should have" taken, but back then, I didn't know what I know now. I guess I'll need to get some consulting on this, or maybe just play it safe.
by sengsational
Sun Sep 08, 2013 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 1807
Views: 543921

Re: Keeping Taxable Account Positive with B40 zero

BigFoot48 wrote:Cell B40, Taxable Withdrawals, once had a purpose in the model but is now probably unnecessary, but leaving it zero still requires the user to adequately fund the taxable account for living expenses by manipulating withdrawals from IRAs. The model is not designed to do this automatically.
Thanks for the reply. I guess I was looking for the same kind of functionality as i-orp if I set B40 to zero (automagically suggest tax favored account withdrawls). But I'll get back in there and do what it takes to keep those balances positive. Thanks for sharing your work!
by sengsational
Sun Sep 08, 2013 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Money Out of the 529 Account
Replies: 4
Views: 982

Getting Money Out of the 529 Account

I have a leftover balance in a 529 account and do not want to change the beneficiary to another family member. I just learned about the "scholarship rule" that allows amounts up to scholarship funds received to escape the 10% penalty (although I understand taxes still are to be paid on gains).

My question is one of timing. In 2012, 529 funds were used for QHEE, but no scholarship withdraws were done in that year (or ever, for that matter). May I make scholarship withdrawls this year (2013) and align with those 2012 scholarships recieved and thus avoid the 10% penalty on withdrawl of 529 funds?
by sengsational
Sat Aug 31, 2013 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 1807
Views: 543921

Keeping Taxable Account Positive with B40 zero

I might just be missing something basic here, but I'm having trouble when attempting to iterate on the B34 through B41 inputs to get non-zero balance in taxable. From the sample as a starting point, I turn off lump sum events, change B17, 18, and 19 to 150K, 600K, 150K, respectively, and set B32 through B41 and B48 to zero. Taxable goes negative in 2016. So, based on that, how does one work the inputs to get back to a plan without negative balances, while leaving B40 at zero (this cell has the note "Set to provide adequate funds for living expenses, or set to 0 and allow model to automatically do it")? The taxable balance gets worse by between 67K and 53K per year. So what do I do with that information? How do I take information f...
by sengsational
Sun Feb 24, 2013 11:47 am
Forum: Personal Investments
Topic: Calculating Asset Allocation with Country
Replies: 2
Views: 454

Calculating Asset Allocation with Country

I'd like to get opinions about proper calculation of asset allocation when the split includes the country of investment. If I'm looking at an ETF or Mutual fund, I can go to the fund site and they have a list of countries and percentages. That's easy enough, but what if I have a specific stock holding of a company that operatated internationally? Say the company happens to be located in Spain, but gets their revenues equally from (and has operating units in) Spain, UK, US, and Latin America? Would it be most accurate, from an asset allocation theory standpoint, to book that as 100% Spain? What if a competitor had the same set of countries as revenue sources, but happened to be located in the US? Would it be most accurate to book that one as...
by sengsational
Sun Mar 20, 2011 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: NYT: Roth IRA conversion can hurt college aid
Replies: 18
Views: 4069

A conversion will increase your AGI that year. Your AGI is certainly reported on the FAFSA. Furthermore, almost all the colleges that my child applied for financial aid to also requested a copy of our tax return. Remember that the EFC depends on your AGI and other things. All true. But what seems to have been missed in this thread is that the financial aid official is at liberty to make an offer that excludes the "income" generated by a Roth conversion. Before I converted, I called the financial aid office and asked. My FO said she adjusts for Roth conversions, and the award will be the same, conversion or not. Too much of a noob here to make it a 1ink , but you can google: 07-08 AVG Chapter 5: Corrections, Updates, and Adjustmen...
by sengsational
Sat Feb 05, 2011 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax completely messed up on Roth recharacterizations !!
Replies: 16
Views: 3465

dandan14 wrote:H&R Block at Home seemed to handle my recharacterization correctly. I entered it and it popped up a little screen about how recharacterized money is not taxable.
The box said not taxable in 2010, I suppose? Because it is taxable, just if you picked the 50/50 split it isn't taxable in 2010. My experience is a bit different that yours. It didn't pop-up a box. It put my full conversion on the 1040 form, but put zero in the right-hand column. I expected half of my full conversion there. I just updated my copy of the software today, so that isn't the difference. I have the 'deluxe' version. As illogical as this push out to 2011 and 2012 is, I think a pop-up box would be a good idea!

--Dale--
by sengsational
Sat Feb 05, 2011 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax completely messed up on Roth recharacterizations !!
Replies: 16
Views: 3465

I was mistaken about this, because I hadn't gotten to the screen where it asks if you want to take the conversion income all in 2010 or split it between 2011 and 2012. It assumes the latter until/if you tell it otherwise, so that's why I was seeing a taxable amount if ZERO. Rusty, You have not checked a box. If you look at line 19 of Form 8606, you will see a box that you need to check in order to report all conversion income in 2010. The law defaults to 50/50 reporting for 2011/2012. And Turbo did it correctly if that box was not checked. I had the same reaction as Rusty, but with "Block at Home" software....figured if I said to split it 50/50, it would put it into 2010 and 2011. I was thinking "this software is whacked!&qu...