Search found 4407 matches

by delamer
Tue May 22, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's Disease, Long Term Care, and your Retirement Finances
Replies: 44
Views: 4146

Re: Alzheimer's Disease, Long Term Care, and your Retirement Finances

Even those with the ability to self insure, a long tail yearly claim of 100,000 in today's dollars for 10 or more years is a very tough pill to swallow. That's why you have a health care POA. I saw first-hand how expensive it was for a loved one with dementia who spent the better part of a decade b...
by delamer
Tue May 22, 2018 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: Need Your Advice - Thank You
Replies: 10
Views: 529

Re: Need Your Advice - Thank You

If your goal for this money is retirement funds, then you don’t need to touch it for 25+ years. That means choosing an asset allocation that your are comfortable with, investing accordingly, and then rebalancing as needed. You don’t need protection against dips in the stock market, nor do you need t...
by delamer
Tue May 22, 2018 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Difficulty with Parents-In-Law
Replies: 25
Views: 1107

Re: Difficulty with Parents-In-Law

Couple of things from the recent posts: 1. My Dad didn't suggest I reach out to them about it. He is just very open about his and my mother's finances, so I was just them using as a counterpoint. 2. My FIL showed me the investments and what they were without my prompting. But when I dug in and poin...
by delamer
Tue May 22, 2018 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help
Replies: 5
Views: 273

Re: Portfolio help

The rule of thumb is that investments that constitute less than 5% of your portfolio are not going to have a material effect on its return. So you can make life/rebalancing easier and get rid of the small positions. For your 401(k), use the options that have ERs of about 0.7%. Make up your allocatio...
by delamer
Tue May 22, 2018 12:38 pm
Forum: Investing - Theory, News & General
Topic: Predicting income from investment
Replies: 9
Views: 386

Re: Predicting income from investment

You shouldn’t assume anything about an investment in the stock market for a 5 year period.

The stock market is volatile over the short run. In 2008, the S&P500 lost 37% of its value. It took several years for it to recover.
by delamer
Tue May 22, 2018 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: Another help-me-help-my-mother post
Replies: 21
Views: 1860

Re: Another help-me-help-my-mother post

The advisor does seem to be accepting my POA. At first he told my mother that he was "required" to obtain verbal confirmation from her in addition to a copy of the POA. I called him on that, and he is now communicating with me. She was referred to this advisor by her estate/tax attorney when my dad...
by delamer
Tue May 22, 2018 12:28 pm
Forum: Investing - Theory, News & General
Topic: The Millionaire Next Door and civil servants
Replies: 48
Views: 7850

Re: The Millionaire Next Door and civil servants

Perhaps the "Millionaire Next Door" series continues to be popular because of the allure of the spirit of entrepreneurship. I have always found it very interesting that many of the millionaires Stanley studied believe that there was a definite element of 'being in the right place at the right time'...
by delamer
Tue May 22, 2018 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Another help-me-help-my-mother post
Replies: 21
Views: 1860

Re: Another help-me-help-my-mother post

I would find an attorney who can represent you in your dealings with the advisor.

It seems to me that first you have to get the advisor to recognize your power of attorney and override the advisor’s POA. Why would the advisor give his up based on an e-mail that you’ve sent?

Good luck.
by delamer
Mon May 21, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: How are dividends from Vanguard taxed?
Replies: 8
Views: 556

Re: How are dividends from Vanguard taxed?

“From Vanguard” covers a number of situations. I have a taxable brokerage account. For my individual stocks, those dividends are qualified dividends and taxed as long-term capital gains for federal tax purposes. Some dividends from my stock mutual funds/ETFs in the account are qualified, others are ...
by delamer
Mon May 21, 2018 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring in early 2019.
Replies: 15
Views: 1858

Re: Retiring in early 2019.

A 4% withdrawal rate from your initial portfolio (adjusted for inflation each year) makes it highly unlikely that you will spend down your portfolio. However, that requires a minimum 30% allocation to stocks which you currently do not have. Also, you need to take into account federal/state income ta...
by delamer
Mon May 21, 2018 6:16 pm
Forum: Investing - Theory, News & General
Topic: If RMD are large should you still defer into 401k
Replies: 31
Views: 2618

Re: If RMD are large should you still defer into 401k

1. Don’t give up any current employer match for your 401(k). 2. You can certainly withdraw money from your 401(k)s once retired but prior to needing to take RMDs. That will reduce your RMDs. 3. You are 64 now and plan to continue working for another 10 years? To each their own, but why not retire now?
by delamer
Mon May 21, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's Disease, Long Term Care, and your Retirement Finances
Replies: 44
Views: 4146

Re: Alzheimer's Disease, Long Term Care, and your Retirement Finances

Seems to be some confusion. I inquired about nursing homes, being admitted as private pay instead of on Medicaid. Assisted living facilities are not nursing homes, and it is not typical that Medicaid covers assisted living expenses. For the most part, assisted living facilities are private pay faci...
by delamer
Mon May 21, 2018 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Money (Accounts)
Replies: 6
Views: 945

Re: Moving Money (Accounts)

The most important thing to control is taxes. This sounds like a taxable account and may have some significant gains after last year. You might want to leave at Schwab without the adviser and slowly transition to low cost index funds. If there are no tax consequences, you can just move the money ou...
by delamer
Mon May 21, 2018 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Can I transfer brokerage Acct without speaking to FA?
Replies: 18
Views: 888

Re: Can I transfer brokerage Acct without speaking to FA?

Contact Vanguard and they will do the work to move your assets once you have completed the required paperwork. You may not need to intervene. If your FA contacts you or Vanguard tells you that there is information you need from the FA to complete the transfer, tell your friend that you’ve been educa...
by delamer
Mon May 21, 2018 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's Disease, Long Term Care, and your Retirement Finances
Replies: 44
Views: 4146

Re: Alzheimer's Disease, Long Term Care, and your Retirement Finances

Even those with the ability to self insure, a long tail yearly claim of 100,000 in today's dollars for 10 or more years is a very tough pill to swallow. I can't speak to Alzheimer's but have experience with full nursing care. At least in my area, if you choose a facility that accepts Medicaid you n...
by delamer
Sun May 20, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Using the 3% SWR While Still Working
Replies: 9
Views: 1114

Re: Using the 3% SWR While Still Working

Sounds to me like you are semi-retired, so I am not sure about your premise that you are taking money from your portfolio before retirement.

And that is especially true since you are 66, well past early retirement.
by delamer
Sun May 20, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another mortgage question
Replies: 6
Views: 437

Re: Yet another mortgage question

JoeRetire wrote:
Sun May 20, 2018 2:04 pm
delamer wrote:
Sun May 20, 2018 1:13 pm
My prediction is that you’ll get all kinds of opinions on this.
That's a pretty safe prediction!
:D
by delamer
Sun May 20, 2018 2:14 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Money (Accounts)
Replies: 6
Views: 945

Re: Moving Money (Accounts)

The most important thing to control is taxes. This sounds like a taxable account and may have some significant gains after last year. You might want to leave at Schwab without the adviser and slowly transition to low cost index funds. If there are no tax consequences, you can just move the money ou...
by delamer
Sun May 20, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another mortgage question
Replies: 6
Views: 437

Re: Yet another mortgage question

My prediction is that you’ll get all kinds of opinions on this. You didn’t say what your income is or what your goal is (asset wise) for early retirement, so that limits the effectiveness of any advice. However, saving $50,000/year is very good unless you are really high earners. There is nothing w...
by delamer
Sun May 20, 2018 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: $1,700,000 from family trust...
Replies: 57
Views: 6580

Re: $1,700,000 from family trust...

I have a little bit of a different take, only because I don't feel good about where we are in this extended bull run. My gut feeling is a significant correction in the next 1-3 years. Outside of the trust funds, you seem to have very modest amounts otherwise - so I'm not sure if you are willing to ...
by delamer
Sun May 20, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another mortgage question
Replies: 6
Views: 437

Re: Yet another mortgage question

My prediction is that you’ll get all kinds of opinions on this. You didn’t say what your income is or what your goal is (asset wise) for early retirement, so that limits the effectiveness of any advice. However, saving $50,000/year is very good unless you are really high earners. There is nothing wr...
by delamer
Sun May 20, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 95
Views: 6583

Re: Helping Adult Children (but not too much)

We fund our daughters Roth. We see this as matching her work income and it means she’ll be compounding for years to come. So, I don't understand the point, Point. I know it would provide a nice tax free nest egg that you're funding for children, but why not make them fund their own Roths, especiall...
by delamer
Sun May 20, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting to go part time - negotiating strategies
Replies: 30
Views: 2574

Re: Requesting to go part time - negotiating strategies

Some years ago I submitted a request to my employer to change to part-time so I could take some classes that weren't offered in the evenings/weekends. The employer said my experience and skills were needed by the organization and I would be too difficult to replace so they were denying my request. ...
by delamer
Sun May 20, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 95
Views: 6583

Re: Helping Adult Children (but not too much)

We fund our daughters Roth. We see this as matching her work income and it means she’ll be compounding for years to come. So, I don't understand the point, Point. I know it would provide a nice tax free nest egg that you're funding for children, but why not make them fund their own Roths, especiall...
by delamer
Sat May 19, 2018 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Pension and Sociai Security Impact on 4% Rule
Replies: 20
Views: 2355

Re: Pension and Sociai Security Impact on 4% Rule

If you have, for example, 6 years during which your income will totally come from investments and the income you need is $50,000/year, then you need $300,000 to cover that period. If at year 7, you will get $35,000 in income from SS and pension until your death, then you’d need $15,000/year from inv...
by delamer
Sat May 19, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 95
Views: 6583

Re: Helping Adult Children (but not too much)

my 2 daughters are in their mid 30's and 40 married and the older one has 2 young children. We all live in a high cost of living area. Daughters and their spouses both work and are saving/investing and managing money wisely. My wife and I are 69/70 and are in very good financial shape aided with my...
by delamer
Fri May 18, 2018 8:23 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring soon - some questions
Replies: 27
Views: 3082

Re: Retiring soon - some questions

A minorish point — if you want to keep earnings low enough to get the ACA subsidy (post COBRA, pre Medicare) aren’t you going to need to spend some of your cash to cover expenses during that period? So you’ll need to tap those accounts. A more general point — I know the ACA subsidies can be signific...
by delamer
Fri May 18, 2018 6:51 pm
Forum: Investing - Help with Personal Investments
Topic: Help Me Help Parents
Replies: 12
Views: 1316

Re: Help Me Help Parents

If they literally have no other savings, then I would not put all of the inherited money into an annuity. Maybe set some cash aside in a one-year CD that rolls over so your mother is less tempted to withdraw it? FYI, I don’t how annuities work within an IRA, if that is what you are considering. I am...
by delamer
Fri May 18, 2018 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Pre-Retirement Check
Replies: 14
Views: 1321

Re: Pre-Retirement Check

I’d come at it from the other side — how much will your expenses be and can your assets and income support that? If you don’t have a good handle on your expenses, now is the time to develop one. If you need $100,000 (including taxes) to cover expenses, then you’ll need to spend $800,000 from your as...
by delamer
Fri May 18, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Best use of inherited assets to get to retirement soon
Replies: 7
Views: 1252

Re: Best use of inherited assets to get to retirement soon

OP, I don’t think you have yet provided enough specific information about your exact financial situation. My initial sense is that toy don’t have sufficient assets to retire without depending on earned income from your spouse, but i can’t be sure based on the information you have provided. I also t...
by delamer
Thu May 17, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 2507

Re: Having trouble figuring out expected expenses in retirement

OP, This may or may not be the answer that you are seeking. In my case, I had no job security over the last 10+ years. But, I have to live for today too. And, there is no way to get an accurate projection over 10+ to 20 years. Plus, I may not be fully-employed until retirement age. After all the ab...
by delamer
Thu May 17, 2018 2:55 pm
Forum: Personal Consumer Issues
Topic: Departed employee & final pay check
Replies: 9
Views: 1159

Re: Departed employee & final pay check

With previous commission checks, was a similar amount deducted for medical/dental coverage?
by delamer
Thu May 17, 2018 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: Do I pay towards my mortgage or invest?
Replies: 29
Views: 2158

Re: Do I pay towards my mortgage or invest?

I still disagree. The frictional costs are not strictly monetary. it's primarily time & hassle. For example, last time I took out a mortgage I spent more than 10hrs gathering documents, preparing P&L statements for a tiny side business, signing paperwork. I had a similar experience refinancing a st...
by delamer
Thu May 17, 2018 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: Do I pay towards my mortgage or invest?
Replies: 29
Views: 2158

Re: Do I pay towards my mortgage or invest?

I still disagree. The frictional costs are not strictly monetary. it's primarily time & hassle. For example, last time I took out a mortgage I spent more than 10hrs gathering documents, preparing P&L statements for a tiny side business, signing paperwork. I had a similar experience refinancing a st...
by delamer
Thu May 17, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage decision killing me
Replies: 52
Views: 6441

Re: Mortgage decision killing me

Have you figured out your monthly payment if the ARM jumps to the maximum 8.75%? How would that affect your budget/lifestyle, assuming that it would? As someone who had a 12.75% mortgage back in the 80’s, my recommendation is that you not assume that you will be able to refi into a lower rate (than ...
by delamer
Thu May 17, 2018 1:36 pm
Forum: Investing - Help with Personal Investments
Topic: Do I pay towards my mortgage or invest?
Replies: 29
Views: 2158

Re: Do I pay towards my mortgage or invest?

I am assuming that you don’t get to make this decision unilaterally; that is, that your wife gets a vote?

You can always split the $10,000 among multiple objectives. Some to the mortgage, some to investing, some to house projects, for example.
by delamer
Thu May 17, 2018 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 2507

Re: Having trouble figuring out expected expenses in retirement

My wild guess for a couple at age 55 with 3 teens would have a medical expense at 30% of total annual expense. Obviously it would depend heavily on the health insurance market situation at that time. Yikes that is more than I thought. I think I calculated healthcare at about 15k annual from my plan...
by delamer
Wed May 16, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security: two reasons not to wait
Replies: 68
Views: 11485

Re: When to claim Social Security: two reasons not to wait

I'm not very knowledgeable of the fine points of different SS options, but was under the impression that, under the new rules, if someone delays SS and their spouse will receive a spousal benefit under a primary recipient's benefit, then once the spouse reaches FRA, the spousal regular benefit and ...
by delamer
Wed May 16, 2018 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Percent Confidence in Planning Scenario
Replies: 27
Views: 995

Re: Percent Confidence in Planning Scenario

One of my "concerns" is that we end up working much longer than we "need" to (due to our conservative nature) and look back and say, why didn't we stop working sooner? I know that these are first world problems... I think that's a very legit concern. Thanks - you're not helping! :oops: Actually we ...
by delamer
Wed May 16, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Downsizing in 8 years. Buy now?
Replies: 18
Views: 1626

Re: Downsizing in 8 years. Buy now?

So you want to buy a house now that you would rent out for the next 8 years? And then you’d move into it when you retired? It isn’t just a question if what will happen to the housing market in 8 years, but what will happen in your life. If one of you was run over by a bus the day after you bought th...
by delamer
Wed May 16, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Multiples credit pulls on a mortgage app
Replies: 15
Views: 1052

Re: Multiples credit pulls on a mortgage app

Can you remove a credit pull?
by delamer
Wed May 16, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Percent Confidence in Planning Scenario
Replies: 27
Views: 995

Re: Percent Confidence in Planning Scenario

One of my "concerns" is that we end up working much longer than we "need" to (due to our conservative nature) and look back and say, why didn't we stop working sooner? I know that these are first world problems... I think that's a very legit concern. Thanks - you're not helping! :oops: Actually we ...
by delamer
Wed May 16, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Need Input on My Early Retirement Plan.....
Replies: 45
Views: 5318

Re: Need Input on My Early Retirement Plan.....

Just saw this thread. I am early retired now and never had any cash cushion. Studies show it is a complete waste of money. It is only psychologically beneficial, but at a cost that is not worth paying. So we have only enough cash to pay the bills for the next 2 weeks or so. Everything else is inves...
by delamer
Wed May 16, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Question for Federal Govt Retirees
Replies: 20
Views: 1287

Re: Question for Federal Govt Retirees

According to the retirement rep for my agency, the paperwork is processed not in the order it is submitted but in order of the date of retirement. So the people retiring the soonest get their paperwork processed first. About 2 months in advance was the recommended date to submit the papers. Seems to...
by delamer
Wed May 16, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need Input on My Early Retirement Plan.....
Replies: 45
Views: 5318

Re: Need Input on My Early Retirement Plan.....

Just saw this thread. I am early retired now and never had any cash cushion. Studies show it is a complete waste of money. It is only psychologically beneficial, but at a cost that is not worth paying. So we have only enough cash to pay the bills for the next 2 weeks or so. Everything else is inves...
by delamer
Wed May 16, 2018 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Percent Confidence in Planning Scenario
Replies: 27
Views: 995

Re: Percent Confidence in Planning Scenario

There is no 100%.

As someone said earlier, there are unknown unknowns that could blow any plan up.
by delamer
Wed May 16, 2018 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Why can't you rollover a retirement account into another one that you no longer work at?
Replies: 33
Views: 1730

Re: Why can't you rollover a retirement account into another one that you no longer work at?

Not sure why it matters that you can’t do a rollover from Job B to Job A. If you can’t, you can’t. I don't know about the OP, but I tend to be interested in not only knowing the rules, but also understanding the rationale behind the rules. Even if I cannot change them. It costs money/resources to h...
by delamer
Wed May 16, 2018 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Why can't you rollover a retirement account into another one that you no longer work at?
Replies: 33
Views: 1730

Re: Why can't you rollover a retirement account into another one that you no longer work at?

StraightEdge wrote:
Wed May 16, 2018 11:55 am
I don't think you are understanding correctly.

I don't work at Job B anymore either. So I can't roll over Job A's account into Job B's account for the same reason I can't rollover Job B's account into Job A's account.

My mistake — I read too quickly and thought you were still at Job B.
by delamer
Wed May 16, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Better to be in debt to yourself or others?
Replies: 25
Views: 1549

Re: Better to be in debt to yourself or others?

What is the dollar amount of the loans? What is the dollar amount of the 401K and your annual income? I'd be inclined to focus on paying down the loans and keep the 401K invested and growing most of the time but sometimes on this board people will post a question like this and we come to find out t...
by delamer
Wed May 16, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Why can't you rollover a retirement account into another one that you no longer work at?
Replies: 33
Views: 1730

Re: Why can't you rollover a retirement account into another one that you no longer work at?

Not sure why it matters that you can’t do a rollover from Job B to Job A. If you can’t, you can’t. Why not roll the Job A account into the Job B account? What difference does it make that the Job A account is larger? The Job A account gave you an option to do the rollover. It just isn’t that complic...