Search found 17278 matches

by delamer
Sun Mar 17, 2024 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Aggregation of IRA Balances to Calculate RMD
Replies: 4
Views: 506

Re: Aggregation of IRA Balances to Calculate RMD

Here’s the IRS guidance: https://www.irs.gov/retirement-plans/rm ... each%20IRA.

It seems to me that your method should work fine, except for rounding errors. But it isn’t what the IRS requires for the calculation.
by delamer
Sun Mar 17, 2024 8:33 pm
Forum: Personal Consumer Issues
Topic: navigation system for car
Replies: 51
Views: 2179

Re: navigation system for car

At the risk of further insulting your flip phone, I’d get an older model smartphone for a few hundred dollars rather than bothering with a portable GPS.
by delamer
Sun Mar 17, 2024 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare: Getting Part A and D only
Replies: 40
Views: 2028

Re: Medicare: Getting Part A and D only

At least half of the people I know who had cancer had no family history nor any known risk factors (other than age) for the type of cancer that they developed. Including my father.

Don’t kid yourself that a healthy lifestyle and habits immunize you against serious disease, especially as you age.
by delamer
Sun Mar 17, 2024 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Over 80, take more than minimum RMD? Advice?
Replies: 18
Views: 1882

Re: Over 80, take more than minimum RMD? Advice?

(Have not read other comments.)

If you want to help your children and grandchild, then withdrawing more than the absolute minimum now and passing the funds onto them should be considered. Any money that they reinvest will have a cost basis set at their purchase date.

But only if you are comfortable about giving away money, since you mentioned self-insuring for LTC.

Predicting future tax rates either by law or by individual circumstances is a crapshoot.
by delamer
Sun Mar 17, 2024 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much long term care might you need?
Replies: 31
Views: 2264

Re: How much long term care might you need?

If you need long-term care, either assisted living or skilled nursing, there are four potential sources of money to pay for it: 1) LTC insurance 2) Annual income (Social Security; pensions; other annuities) 3) investments/Savings 4) Home equity Not everyone has all of these sources, of course. And it gets more complicated if you are married and one spouse needs LTC and the other is able to live independently. For instance, if the independent spouse is living is the family home then the only way to access the equity is through a reverse mortgage (assuming a loan that requires monthly payments doesn’t make sense). And, obviously, the couple shouldn’t exhaust all resources to pay for one spouse’s care and leave the other spouse in poor financ...
by delamer
Sun Mar 17, 2024 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: How much long term care might you need?
Replies: 31
Views: 2264

Re: How much long term care might you need?

If you need long-term care, either assisted living or skilled nursing, there are four potential sources of money to pay for it: 1) LTC insurance 2) Annual income (Social Security; pensions; other annuities) 3) investments/Savings 4) Home equity Not everyone has all of these sources, of course. And it gets more complicated if you are married and one spouse needs LTC and the other is able to live independently. For instance, if the independent spouse is living is the family home then the only way to access the equity is through a reverse mortgage (assuming a loan that requires monthly payments doesn’t make sense). And, obviously, the couple shouldn’t exhaust all resources to pay for one spouse’s care and leave the other spouse in poor financi...
by delamer
Sun Mar 17, 2024 12:53 pm
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 5984

Re: Need Help Finding a Hobby

Texgal17 wrote: Sun Mar 17, 2024 12:50 pm I haven’t seen jigsaw puzzles mentioned yet. My sister got me hooked on these. I do the 1000 piece puzzles. I also listen to podcasts while doing them. It’s just so relaxing and enjoyable!
Texgal
I’m not doing them as often post-pandemic, but this is exactly what I do — jigsaw + podcast.
by delamer
Sun Mar 17, 2024 12:49 pm
Forum: Personal Investments
Topic: Roth Conversion for TSP
Replies: 15
Views: 1151

Re: Roth Conversion for TSP

You would have to sell some of your TSP assets to do a Roth conversion. As others have noted, you can’t convert within the TSP.

I’ve done so by doing a partial rollover (indirect) from TSP to a Vanguard Traditional IRA. Then I set up a Roth at Vanguard and have been converting into it over the last few years.
by delamer
Sun Mar 17, 2024 12:39 pm
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 88
Views: 10163

Re: Anybody heard stories of well "prepared" retirees running out of money?

Not as dramatic as some examples but I know someone who entered retirement thinking they were well prepared. Then they discovered that they had grossly underestimated their expenses. They attempted to go back to work but had moved in retirement, leaving behind all their professional connections. Could not find work. Did not want to move back and resume working part-time in their former location. Briefly investigated remote work with former colleagues but apparently the opportunities were not that attractive. I gather that in their field, the lion's share of the compensation goes to the person who brings in the business. Simply doing the work does not pay much. So they cut back on lifestyle to something that appears to be sustainable. The s...
by delamer
Sun Mar 17, 2024 11:08 am
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 88
Views: 10163

Re: Anybody heard stories of well "prepared" retirees running out of money?

Outside of the big ones (divorce, illness, gambling, drugs) - nope, never heard of it. Of what percentage of overall retired people are living a Bogleheads Approved Plan? Less than 1%? I honestly don’t know what a “Bogleheads Approved Plan” is. As an avid reader of every "Can I retire thread?" I'll say 30 to 35X expenses, some where between 30/70 and 70/30 AA. I think we we include people who are taking the bulk of their expenses from pensions or social security, the number of people who would qualify goes way up. Sounds like a reasonable “Plan” definition. Just add that the portfolio is based on index funds. :happy Based on my observations (and surmises) in my personal circle of friends, family, neighbors, a lot of retirees live...
by delamer
Sun Mar 17, 2024 10:43 am
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 88
Views: 10163

Re: Anybody heard stories of well "prepared" retirees running out of money?

fortunefavored wrote: Sun Mar 17, 2024 10:08 am Outside of the big ones (divorce, illness, gambling, drugs) - nope, never heard of it.

Of what percentage of overall retired people are living a Bogleheads Approved Plan? Less than 1%?
I honestly don’t know what a “Bogleheads Approved Plan” is.
by delamer
Sun Mar 17, 2024 10:41 am
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 88
Views: 10163

Re: Anybody heard stories of well "prepared" retirees running out of money?

Haven't heard of any, personally. I guess it is possible. Probably have to do with health related events - longevity, long term care, etc. But if well prepared means a pension (or appropriately sized life annuity)/ a decent sized portfolio, proper AA, relatively mild inflation, etc., I would assume it's rare. That is what Medicaid is for. But is having your long-term care costs paid for by Medicaid a "failure to plan"? A friend (who owned a network of nursing homes) told me once that he knows extremely wealthy people who put all their assets in trusts for their kids so they would qualify for Medicaid and therefore they would not have to pay a penny of long-term care costs. If Medicaid is good enough for multi-millionaires, I gues...
by delamer
Sat Mar 16, 2024 6:46 pm
Forum: Investing - Theory, News & General
Topic: Theoretically, would VTI be an effective long term retirement investment, even when held in a taxable account ?
Replies: 30
Views: 2982

Re: Theoretically, would VTI be an effective long term retirement investment, even when held in a taxable account ?

Kumsajack wrote: Sat Mar 16, 2024 4:34 pm
Doesn't an investment that can be liquidated at a lower capital gains rate seem to be a better investment than the ordinary income rate of money market, I Bonds or bank interest ?

Thanks
You are ignoring the possibility that the VTI might have taken a substantial dip in value just at the time that a withdrawal is needed.

That won’t happen with cash equivalents.
by delamer
Sat Mar 16, 2024 6:36 pm
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 88
Views: 10163

Re: Anybody heard stories of well "prepared" retirees running out of money?

Call_Me_Op wrote: Sat Mar 16, 2024 3:23 pm Almost by definition, if a person is well prepared, the plan should not fail.
No one can prepare for every exigency.

My husband and I are by almost every definition well-prepared. But if we both end up with dementia and survive for 14 years — like the mother of a colleague of mine did — we might “fail.”
by delamer
Sat Mar 16, 2024 6:22 pm
Forum: Personal Consumer Issues
Topic: I will need a new car or repair one
Replies: 46
Views: 1914

Re: I will need a new car or repair one

Tesla Model Y vs Comparable Japanese Car Which one would you go for??? What is comparable Japanese car that is being considered? Model Y is good but drive it and see if it works for you. For me it has a few deal breakers like the harsh suspension and no sunroof shade. Also had someone mention the seat foam is not very durable. I would want to wait till the refresh before considering the M-Y because I think they will soften the ride. BMW are money pits and they aren’t even fun to drive anymore. So I would get rid of it. Agree. Model Y refresh coming in late 2024. So you can likely get the older model marked down before the rollout, or get a much better vehicle after. Can you limp the existing car for a year? That is, is it just squeaks at t...
by delamer
Sat Mar 16, 2024 5:34 pm
Forum: Personal Consumer Issues
Topic: Moving in retirement.
Replies: 25
Views: 2778

Re: Moving in retirement.

I just had a recent conversation with a long-time friend (in her early 70’s) about her retirement location and home situation. Her partner is 12 years older and her only child lives almost 2 hours away, but she is determined to stay in her house of 40 years. It’s a split level and she’s already decided to put a stair lift (if needed) rather than move. But even that is a partial solution to just one problem of aging in (her) place. The house is 70 years old and she’s maintained it pretty well, but it’s a money pit waiting to happen. It’s a very desirable neighborhood, with many teardowns, and that’s exactly what would happen if/when she has to sell. Shd simply hates change even though she acknowledges that the no matter how much she clings t...
by delamer
Sat Mar 16, 2024 2:01 pm
Forum: Personal Consumer Issues
Topic: Moving in retirement.
Replies: 25
Views: 2778

Re: Moving in retirement.

sport wrote: Sat Mar 16, 2024 1:53 pm In our early 60's we moved from a 2-story house with laundry in the basement and a detached garage to a one-floor house with an attached garage and no basement. The HO association cuts the grass, pulls the weeds, trims the bushes and cleans the snow off the drive and walk. We love the new house and don't miss the old one at all. Not having any stairs to climb is wonderful.
Very similar for us.
by delamer
Sat Mar 16, 2024 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Reevaluating social security
Replies: 49
Views: 4163

Re: Reevaluating social security

If you are going to have earned income, then you need to read this: https://www.ssa.gov/pubs/EN-05-10069.pdf
by delamer
Sat Mar 16, 2024 1:55 pm
Forum: Personal Investments
Topic: Death of Joint Tenant/Owner
Replies: 20
Views: 1727

Re: Death of Joint Tenant/Owner

Thanks for the replies. The state is Maryland. The official registration is Joint Tenants. There are 8 holdings. 4 are right around $1000, so we were thinking of selling those to streamline things a bit. My dad is 97, still in fairly good health, but we're trying to move expeditiously. I put a sale in motion, just to see how it would work. I haven't submitted. But this is what it says at one point. Estimated Cost Basis and Tax Information Type Covered Non Covered Shares N/A 16 Proceeds N/A USD 854.52 Cost Basis N/A N/A Estimated short term (gain/loss) N/A N/A Estimated long term (gain/loss) N/A N/A So cost basis and capital gains aren't even showing up. It looks like it would just be counted as income, or am I missing something? These are ...
by delamer
Sat Mar 16, 2024 1:49 pm
Forum: Personal Consumer Issues
Topic: Moving in retirement.
Replies: 25
Views: 2778

Re: Moving in retirement.

I always remember this story, told to me by a colleague, when retirement relocation comes up. My colleague was friends with a couple who had always wanted their own private oasis in the woods. So when they retired, they bought wooded land with no neighors nearby and had their dream house built. In addition to no neighbors, the nearest town for buying groceries and other necessities was a bit of a drive. Six months after they moved into their dream house, the husband died of a heart attack. And the wife was on her own, isolated, and had a property that was hard to unload because most people want proximity to people and shopping (meth lab owners excepted :shock:). My recollection is that she took a big hit in the price when she finally sold. ...
by delamer
Sat Mar 16, 2024 1:13 pm
Forum: Personal Investments
Topic: Death of Joint Tenant/Owner
Replies: 20
Views: 1727

Re: Death of Joint Tenant/Owner

Big Dog wrote: Sat Mar 16, 2024 11:18 am ComputerShare has only one way of doing things: their way. Definitely ask about cost basis, which should be adjusted as of the date of death upon transferring of shares. Personally, I'd then ask for a check and close out the account.
If there is only a step up for half of the account, they probably don’t want to cash out everything.

I think depends on whether it is a community property state?
by delamer
Fri Mar 15, 2024 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Older jobless sibling with a daughter and an inheritance - thoughts on managing it
Replies: 31
Views: 2719

Re: Older jobless sibling with a daughter and an inheritance - thoughts on managing it

IRAs are only available to those with earned income, so they aren’t an option. And they are just a way to hold investments, they are not investments themselves. Not true. I dump money into my IRA every year straight from the bank, money which my brokerage has no clue if it was "earned" or not. And they absolutely are (or can be) investments. With the money I dump in, I buy mutual funds/ETFs. That said, and the more I think about it, I don't think I would suggest anything more than a CD or high-yield savings account....perhaps a simple Index fund at most. It doesn’t matter where the money deposited in the IRA comes from; you can pick up pennies from street and deposit them in the IRA. It doesn’t have to come directly out of your p...
by delamer
Fri Mar 15, 2024 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Older jobless sibling with a daughter and an inheritance - thoughts on managing it
Replies: 31
Views: 2719

Re: Older jobless sibling with a daughter and an inheritance - thoughts on managing it

IRAs are only available to those with earned income, so they aren’t an option. And they are just a way to hold investments, they are not investments themselves.

Money that they need to live in in the next several years should be in cash equivalents.

If they are inheriting more than 8 years of expenses, then a small dose of equities might make sense. It depends on how much money is involved.

The best thing you can do for the long run is to investigate what services your brother’s city/county provides to low-income seniors, so he/you can be prepared once the money runs out.
by delamer
Fri Mar 15, 2024 5:30 pm
Forum: Personal Consumer Issues
Topic: I will need a new car or repair one
Replies: 46
Views: 1914

Re: I will need a new car or repair one

CLKGTR wrote: Fri Mar 15, 2024 5:21 pm
delamer wrote: Fri Mar 15, 2024 5:09 pm
CLKGTR wrote: Fri Mar 15, 2024 2:53 pm
delamer wrote: Fri Mar 15, 2024 2:45 pm What year is the vehicle?

It isn’t clear whether you bought it new 6 years ago, or it was “pre owned” then.
2019. Bought it new early 2018.
Then it is probably worth it to repair the vehicle if you are otherwise happy with it.

I’d never knowingly put money into Elon Musk’s pocket, but to each their own.
Would you do it? Market value for the car is only 20k.
Market value meaning trade-in value or something else?

We are partial to used luxury vehicles and have bought several German ones. But the mileage that we put on has been significantly lower and we’ve never needed a repair of the cost magnitude that you are contemplating.
by delamer
Fri Mar 15, 2024 5:09 pm
Forum: Personal Consumer Issues
Topic: I will need a new car or repair one
Replies: 46
Views: 1914

Re: I will need a new car or repair one

CLKGTR wrote: Fri Mar 15, 2024 2:53 pm
delamer wrote: Fri Mar 15, 2024 2:45 pm What year is the vehicle?

It isn’t clear whether you bought it new 6 years ago, or it was “pre owned” then.
2019. Bought it new early 2018.
Then it is probably worth it to repair the vehicle if you are otherwise happy with it.

I’d never knowingly put money into Elon Musk’s pocket, but to each their own.
by delamer
Fri Mar 15, 2024 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 52
Views: 3964

Re: Parents building a new house - how should they pay for it?

Are they 1) buying the lot from the developer of the plat and having their own builder build their house or 2) are they having a spec house built by the developer? The mortgage for new construction loan is different than most other loans. I don't know how one buys a spec house, but I image that you buy with a mortgage when the house is completed, but have to put a large cash deposit down as escrow payment to protect the builder to some degree. A spec house is one built by a builder/developer without a contract from a specific buyer. It’s “spec”ulation with expectations of finding a future buyer and making a profit. Agree that a house being built with a new construction loan is a different product than a one being purchased with a standard ...
by delamer
Fri Mar 15, 2024 2:45 pm
Forum: Personal Consumer Issues
Topic: I will need a new car or repair one
Replies: 46
Views: 1914

Re: I will need a new car or repair one

What year is the vehicle?

It isn’t clear whether you bought it new 6 years ago, or it was “pre owned” then.
by delamer
Fri Mar 15, 2024 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 52
Views: 3964

Re: Parents building a new house - how should they pay for it?

Are they 1) buying the lot from the developer of the plat and having their own builder build their house or 2) are they having a spec house built by the developer? The mortgage for new construction loan is different than most other loans. I don't know how one buys a spec house, but I image that you buy with a mortgage when the house is completed, but have to put a large cash deposit down as escrow payment to protect the builder to some degree. A spec house is one built by a builder/developer without a contract from a specific buyer. It’s “spec”ulation with expectations of finding a future buyer and making a profit. Agree that a house being built with a new construction loan is a different product than a one being purchased with a standard ...
by delamer
Fri Mar 15, 2024 1:02 pm
Forum: Personal Investments
Topic: Help to confirm these are brokerage acct choices
Replies: 7
Views: 575

Re: Help to confirm these are brokerage acct choices

If the brokerage account is part of your retirement savings, then the decision should be made in the context of your entire retirement portfolio.

If it isn’t designated for retirement, then the best investment(s) depends on the purpose of the account.
by delamer
Fri Mar 15, 2024 12:38 pm
Forum: Personal Investments
Topic: Check my work: Taking over management of my parent's portfolio
Replies: 23
Views: 3153

Re: Check my work: Taking over management of my parent's portfolio

I just saw that you mentioned the LifeStrategy funds in your OP, but it isn’t clear if you considered one as an option. How about using one of the Vanguard LifeStrategy funds instead of the ETFs for the IRAs? https://investor.vanguard.com/investment-products/mutual-funds/life-strategy-funds#/ One advantage is automatic rebalancing. A second is that if you were unable to manage your parents finances due to death or disability, then their portfolio will just chug along as is. Downsides are the slightly increased costs and the inability to make withdrawals from the individual assets that have increased in value (but that’s really only important if they are spending the cash). None of the LifeStrategy funds has exactly the same allocation as y...
by delamer
Fri Mar 15, 2024 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Parents building a new house - how should they pay for it?
Replies: 52
Views: 3964

Re: Parents building a new house - how should they pay for it?

toddthebod wrote: Fri Mar 15, 2024 8:13 am They should borrow money and pay it back when they sell their current house.
They could try to get a mortgage for the new house and then pay most or all of it off once they sell the old one, as noted above.

Another option is to get a HELOC on the old house and then use that money plus savings to buy the new one.

They also check with the developer to see if there are any options through it.

With their current equity plus the CD ladder, they are very close to covering the new house cost. It might make sense to carry a small mortgage rather than take the tax hit on withdrawing from their Traditional IRA.
by delamer
Fri Mar 15, 2024 9:16 am
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 5984

Re: Need Help Finding a Hobby

MJS wrote: Thu Mar 14, 2024 9:25 pm Modular origami is like Legos. Castles, Starwars, models, abstracts, plants, animals ...

At-home volunteering... the Library of Congress looks for people to transcribe their archives:
https://crowd.loc.gov/campaigns-topics/
The National Archives has a similar program: https://www.archives.gov/citizen-archivist
by delamer
Thu Mar 14, 2024 6:03 pm
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 5984

Re: Need Help Finding a Hobby

Th first thing that came to mind was volunteering. Meals on Wheels, animal shelter (since you like dogs), ReStore (Habitat For Humanity), etc., etc.

Try volunteermatch.com
by delamer
Thu Mar 14, 2024 5:52 pm
Forum: Personal Investments
Topic: Dividend Portfolio
Replies: 5
Views: 912

Re: Dividend Portfolio

Of course you were investing for the long term. At age 58, you hopefully would live for another 25 to 30 years. Your portfolio isn’t a static thing once you enter retirement.

Check the Bogleheads’ wiki for information on lazy portfolios and safe withdrawal rates:

https://www.bogleheads.org/wiki/Lazy_portfolios

https://www.bogleheads.org/wiki/Safe_withdrawal_rates
by delamer
Thu Mar 14, 2024 5:32 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15181

Re: 5M, probably enough to retire to a frugal lifestyle

the price increase after vs before covid is about 40%. (don't ask me where this number is coming coming from, just shop a house and get a hair cut and you will know, ask UAW worker why they insist a 40% pay raise). So today's 5M is about 3M or 2.5M in 2019. Go figure. People who are frugal do not go into shops to get a haircut; they do it at home. Such “haircuts” to a budget divide the supposedly frugal from the actually frugal. That brings up the question of whether frugality is relative or absolute. Merriam-Webster says frugal means “characterized by or reflecting economy in the use of resources” If a family grosses $500,000 but spends just $100,000 (excluding taxes), is it frugal? I’d argue yes, regardless of what the money is spent on....
by delamer
Thu Mar 14, 2024 5:18 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15181

Re: 5M, probably enough to retire to a frugal lifestyle

As is sometimes noted on this forum about other posts, there isn’t enough information in the article to form an educated opinion relative to frugality.

But someone working 35 hours per week making $200,000/year isn’t retired.
by delamer
Thu Mar 14, 2024 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Parents' Financial Situation/Crisis [Heir to estate with more debt than assets]
Replies: 29
Views: 3392

Re: Parents' Financial Situation/Crisis [Heir to estate with more debt than assets]

Sounds more like you are talking about strangers on the street and not your parents. You are saying you want nothing to do with their estate or whatever it is called unless you get something out of it. If both parents are dead and the estate is small/negative and messy, then what’s the upside for the OP? S/he isn’t proposing abandoning a living parent. S/he is asking about having to deal with their estate. I believe we have a moral obligation to parents and other family even after death to make sure everything is settled even if it involves some inconveniences to us. I've been asked to help multiple family members in life and also death to take care of their affairs. I am a direct person so I would not be posting questions on an internet f...
by delamer
Wed Mar 13, 2024 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Parents' Financial Situation/Crisis [Heir to estate with more debt than assets]
Replies: 29
Views: 3392

Re: Parents' Financial Situation/Crisis [Heir to estate with more debt than assets]

gotoparks wrote: Wed Mar 13, 2024 5:06 pm Sounds more like you are talking about strangers on the street and not your parents. You are saying you want nothing to do with their estate or whatever it is called unless you get something out of it.
If both parents are dead and the estate is small/negative and messy, then what’s the upside for the OP?

S/he isn’t proposing abandoning a living parent. S/he is asking about having to deal with their estate.
by delamer
Wed Mar 13, 2024 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a new house
Replies: 12
Views: 1548

Re: Buying a new house

Sometimes a HELOC on the current house works in this situation. But you need to set it up before you put the house on the market.
by delamer
Wed Mar 13, 2024 3:50 pm
Forum: Personal Investments
Topic: Sell relatively expensive fund and generate tax hit?
Replies: 8
Views: 650

Re: Sell relatively expensive fund and generate tax hit?

It isn’t an all-or-nothing choice.

You likely can sell some portion of the FEMKX annually so you pay the minimum level of taxes and avoid hits like the NIIT.
by delamer
Tue Mar 12, 2024 9:28 pm
Forum: Personal Consumer Issues
Topic: Where to take Senior on Caribbean vacation?
Replies: 13
Views: 1020

Re: Where to take Senior on Caribbean vacation?

msj16 wrote: Tue Mar 12, 2024 9:24 pm Yes a cruise does sound good but she is reticent to go on a cruise ship due to the possibly higher chance of getting covid in that environment. We are thinking Barbados - has cave exploration with a tram, a nice botanical garden and some quaint shops.
You are going to be on a plane and eating in restaurants, cruise or no.
by delamer
Tue Mar 12, 2024 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary Issue on Inherited IRA and Roth IRA
Replies: 8
Views: 1058

Re: Beneficiary Issue on Inherited IRA and Roth IRA

I’d start with the Trust attorney, tell her/him that you screwed up, and have her/him run interference with Schwab.
by delamer
Tue Mar 12, 2024 9:14 pm
Forum: Personal Consumer Issues
Topic: Where to take Senior on Caribbean vacation?
Replies: 13
Views: 1020

Re: Where to take Senior on Caribbean vacation?

Have you considered a cruise?
by delamer
Tue Mar 12, 2024 5:50 pm
Forum: Investing - Theory, News & General
Topic: ReadOnly Accounts and trading with Advisors
Replies: 11
Views: 1243

Re: Advisory Accounts

UpperNwGuy wrote: Tue Mar 12, 2024 5:46 pm
delamer wrote: Tue Mar 12, 2024 5:44 pm What is a read only platform?
I don't think there is such a thing.
It’s going to be hard to get recommendations then. :shock:

OP - Are you trying to limit your ability to make trades in your portfolio due to past mistakes on your part?
by delamer
Tue Mar 12, 2024 5:44 pm
Forum: Investing - Theory, News & General
Topic: ReadOnly Accounts and trading with Advisors
Replies: 11
Views: 1243

Re: Advisory Accounts

What is a read only platform?
by delamer
Tue Mar 12, 2024 5:31 pm
Forum: Personal Investments
Topic: Help on asset allocation for parents
Replies: 4
Views: 442

Re: Help on asset allocation for parents

When a retiree has expenses covered by pensions and SS, there are two schools of thought as to how their portfolio should be invested. One is that the retiree can take higher risks — more stocks — than typical because they aren’t dependent on the portfolio for survival. The second is that the retiree can be more conservative than typical because they don’t need to take risks to meet their needs. Either approach is reasonable. Right now, your parents are doing the latter. At their ages, there is no need to change that if they are comfortable with the current risk level. However, it would be useful to determine what the financial situation would be for the surviving spouse when the first spouse dies. One SS payment will stop and there may be ...
by delamer
Tue Mar 12, 2024 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: One spouse retiring earlier than the other?
Replies: 38
Views: 2989

Re: One spouse retiring earlier than the other?

jebmke wrote: Tue Mar 12, 2024 2:59 pm
smitcat wrote: Tue Mar 12, 2024 2:57 pm
Marq1 wrote: Tue Mar 12, 2024 2:18 pm The perceived joys of retirement are way different than reality.

I have friends who are retired, all at different ages, but the vast majority of them (the health ones) hate retirement after about a year of getting all those honey do jobs completed. You can only vacation, walk in the park, and play with the grand kids so much.

Loss of income, loss of social contacts, loss of a structured something to do. A few rejoice, many regret.

Better think long and hard, its a decision that for the most part you cant un-do!
Not at all our experience - YMMV
Mine either; sound like retirees who have no other life outside of work or not creative after retirement.
Right; that’s just sad.
by delamer
Tue Mar 12, 2024 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 129
Views: 10642

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

Just curious if any of you Bogleheads found yourselves purposely changing your stripes, and buying extravagant things or much more expensive cars or big trips etc when you could. I know for me, there is almost a psychological pain to "wasting money" but on the other hand, what is the point of saving so much just to pass on? Yes, charity for sure will be a focus. I never have found a good way to spend my money that will make me happier. For example, I spend less than $10 on my cellphone plan while others spend $25+; but it makes zero sense for me to spend more because I do not use it. Same with many other things. I am far from retirement, but I feel like I have enough stuff already. As long as giving to others is part of the budge...
by delamer
Tue Mar 12, 2024 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: One spouse retiring earlier than the other?
Replies: 38
Views: 2989

Re: One spouse retiring earlier than the other?

She doesn’t need to stick to your plan for financial reasons. Hopefully, that’s obvious to her.

If it isn’t obvious, I don’t know that you can convince her.

If it is obvious, then she likely has concerns about what she’ll do with her time. But that’s a problem that all retirees have to solve eventually anyway. Even if your spouse is not working also, you aren’t going to spend all of your waking hours together.