Bogleheads.org

Idea. In taxable, you could hold... --A mmkt fund, as part of your 1st-tier EFs*. --Some bonds, as part of your extended tier EFs, and retirement bonds if not used otherwise. * If you set up all of your monthly bills to be paid by your (trusted=they don't mess up your bills) creditors ABP (automatic bill payment) plans, targeted to a cashback CC where your can, and to checking where you must, then your 1st-tier EFs will get a tax-free boost of ~2%/yr---makes ~0% bank accounts less unattractive. The bonds will fluctuate in price, which will give you the chance to TLH (tax-loss harvest). After you harvest some losses, and have remaining embedded losses (over several years of purchases), then you would have some dry powder that could be redepl...

retired@50 wrote: ↑Sat Mar 18, 2023 1:20 pm...

I think the OP will be raising his cost basis by selling a fund with a gain.
Then, at tax time, he'll pay no tax because of the existing carryover losses, which will get used up.

More details here: https://www.bogleheads.org/wiki/Tax_gain_harvesting

Regards,

You are correct; I completely forgot OP was tax gain harvesting. Resetting to a *higher* cost basis does make sense. Sorry for the confusion.

(If he had been tax-loss harvesting, as I wrongly assumed, the carryover losses would have increased, not decreases ...so I should have caught my mistake there ...but didn't. So I was wrong at least twice. Thanks for catching my mistake.)

Sorry to hear of your troubles. I could be misunderstanding your situation, so others please correct my thinking. If you use your carryover losses to reset your cost basis on existing investments (assumed to be stock funds): --You'll keep the same investments, and pay zero tax now, to lower your cost basis on those same investments. --However, if you must later sell the same investments for living expenses, you'll pay more in tax because of the lower cost basis. Bottom line. You pay zero tax today, to pay more in tax later, if you must later sell. And since the fed tax rate for a surviving spouse is higher ...maybe much more in tax. So I don't see how your lawyer's advice---"don't let losses expire"---helps you, if you rebuy the s...

You are suggesting using Fidelity and Vanguard mutual funds. Depending upon where your investments are held (Fidelity, Vanguard,...), there may be an additional fee to buy funds of the other. So instead of buying funds, you'll probably want to buy ETFs (no additional purchase fee) of the other. Example. If your want Vanguard's TSM (total stock market index), and are at Vanguard, then can buy VTSAX. But if at Fidelity, then can buy VTI (ETF share class of Vanguard's TSM). You've asked your question, and received answers, but they may be sub-optimal because we don't know your whole situation. Suggestion: request a review of everything you are doing/planning for retirement. --Copy/paste the sticky "Asking Portfolio Questions" to your...

To be clear, you want to generate capital gains (ST/LT CG) ...to offset total carryover capital losses (1099B: ST/LT CL*). Converting a traditional account to a Roth account does not generate a CG, it generates ordinary income ...which does not net against carryover CLs. * A carryover ST/LT CL offsetting a voluntarily harvested ST CGs gives a bigger tax benefit than it does when offsetting a voluntarily harvested LT CG. Why? Because LT CGs already receive a tax benefit, whereas ST CGs do not. So selling to generate LT CGs, to offset carryover CLs (ST/LT), wastes some of the carryover loss tax benefit, which is better used to offset ordinary income over more years. Change in carryover loss each year. If you look at 1099DIV box 2a, you see LT...

Recalling past topics, believe some thought a lower-cost alternative was to "freeze credit", or renew an "annual fraud alert" with the credit reporting agencies, to be enough to cue potential creditors to "ask first" before granting new credit.

During a correction, bonds can lose 5-15%*, so a 10% loss (on paper) is within what is expected. (* For completeness: stocks can lose 50-90%.) In a higher interest rate environment, bond funds yields should rise as older (lower yield) issues are replaced by newer (higher yield) issues. Inflation. We buy stocks to keep up with inflation, as bonds are not expected to do that. Exception: TIPS, a la VAIPX: https://investor.vanguard.com/investment-products/mutual-funds/profile/vaipx If it is expected* that high inflation is to be permanent going forward, then a TIPS fund would seem to be a good idea. (* I don't; I know nothing.) Option. If a muni bond could serve you better (more after-tax income, within your risk tolerance), then you could: --T...

If the TIP is acceptable to you, then could also consider a muni fund. MUB ETF, ~6.5yrs duration, 3.2% SEC yield: https://www.ishares.com/us/products/239766/ishares-national-amtfree-muni-bond-etf You'll need to compute muni's TEY (taxable-equivalent yield) to compare to taxable alternatives. National muni TEY = muni SEC yield / (1 - your fed tax bracket). Assume 22% fed tax bracket: MUB TEY = 3.2% / (1-.22) = 4.1% Lather, rinse, repeat for your case. Duration means MUB will lose ~6.5% if fed raises interest rate 1%. A shorter-term/duration muni would fluctuate less, but also yield less. Need other BHs to correct my misunderstanding in next as I've not used other products. Of your listed options, the mmkt fund and CD should have stable princ...

Keep checking ...it should complete within 2 business days. Or not. In which case you need to call Vanguard to get them to fix their problem. Disclosure. I'm no longer certain Vanguard does everything correctly. I'm a new Vanguard brokerage client, moved over in Nov---steep learning curve. Didn't rebalance in Dec (from Nov statements: investing, banking) because I wanted the dust to settle from the move so I'd have a clearer understanding of my new situation---uncomplicated by rebalancing transactions. I rebalanced as normal in Jan (from Dec statements), and needed CSR-handholding while I learned how to drive the brokerage website to enter transactions from my PC. Read-back what I was doing, and CSR said I seemed to be doing things correctl...

WSJ has an interesting article about an increasing scam … A Basic iPhone Feature Helps Criminals Steal Your Entire Digital Life Basically it’s social engineering at a bar or similar to get people to show pictures or something and observing the passcode. From there they steal the phone (after spiked drinks) and the passcode allows a reset of the password, then they can log out other Apple devices and turn off “find my”. Can’t be so common right well … the WSJ says ‘Similar stories are piling up in police stations around the country’ with for example one ring in Mpls likely responsible for 40 incidents and another in NY responsible for 30 (ok I’m thinking there must be multiples rings in NY as no way Mpls is worse). Face ID isn’t always grea...

Tried the homemade personal pizza idea (listed somewhere above). Tasty. Satisfying. Toast 2 slices of bread (crisper crust; Pepperidge Farm's Hearty White). Top each toasted slice with: --Pasta sauce (~2 rounded Tbsp; canned Hunt's Traditional), --Mozzarella cheese (thick layer; Kroger, 8oz prepackaged, shredded), --Pepperoni (2 slices, quartered to bite-size; Applegate, 5oz prepackaged, sliced). Bake/toast at 400°F for ~5min, in preheated toaster/oven. Served with: --Salad (Kroger prepackaged salad mix; sprinkle with Kroger lime juice, fried onions, Manzanilla olives, and Mezzetta sliced Pepperoncini peppers and Roth blue cheese). --Iced tea (Lipton unsweetened instant, with sugar/lemon; better if made the day before/refrigerated overnight).

Idea. Instead of taxable bonds (VBTLX) in taxable account, use a muni bond fund instead. Why? --Depending upon the muni bond fund selected, it may produce more after-tax income than a taxable alternative. --Muni TE (tax-exempt) dividends don't add to AGI (adjusted gross income), so do not push you toward the next higher tax bracket. --Using an acceptable bond fund instead of CDs, means you don't need to chase teaser rates nor relink your financial accounts when rates change. --Skewing your taxable account toward bonds means you can skew your TA (tax-advantaged) accounts toward stocks for higher tax-deferred/free growth. --Bond in taxable can perform multiple duties: as an extended-tier of your 1st-tier EFs (emergency funds: checking, saving...

Just moved from mutual fund platform to brokerage platform and stumbling over the learning curve. Just be aware that in the year you switch you will get two 1099-DIV forms. One for the mutual fund side and one for the brokerage side. Don't file your taxes until you get both forms* . On Schedule B you enter the old mutual fund-side form the way you used to, listing every fund individually, and enter the new brokerage-side form with just the one total amount. * Noted. Received same advice in a Vanguard mailing. Have received both and was surprised that the mutual fund platform's 1099DIV was 1-page (as in the past) and the brokerage platform's was ~10-pages. Couldn't figure out how I needed the extra information to file tax returns, so was st...

(If this is in the wrong forum section, please move it.) Just moved from mutual fund platform to brokerage platform and stumbling over the learning curve. Question. How do I enter the brokerage 1099DIV? Is it as simple as using the brokerage 1099DIV's "Summary Information" to make a single entry in tax s/w? And use the "Payer's TIN" listed at the top of the brokerage 1099DIV to identify the income's source? So my usual 5 mutual fund platform 1099DIV tax s/w entries is replaced by 1 brokerage platform 1099DIV tax s/w entry? Is it that simple? I ask because the brokerage 1099DIV "Detail for Dividends and Distributions" is listed by date distributions received, for each fund, so I'd need to sum a year's worth of i...

Thanks all.

I'll enter each 1099Bs as received, but adjusted for the FIFO (Vanguard's selection method) share price of the uncovered lot from which sold. The gain/loss from each 1099B is very small so will consider myself lucky. (Thank you, Vanguard.)


Plus I've been TLH'ing in the last few years... "So I got that going for me... which is nice."

(If this topic is in wrong forum, please move it.) I was working on moving my Vanguard accounts to the brokerage platform and had spoken with several CSRs before the service fees were removed: --All said the mutual fund platform $20/fund service fee was a non-taxable event. --All said if I completed my brokerage platform move by Nov deadline, that the fee transactions would be reversed. I've received a 1099B for each service fee removed from my taxable account, making it a taxable event. (Thank you, Vanguard. Exception: There was no 1099B for the fee removed from my mmkt fund.) Question. How is each 1099B to be handled in tax s/w? (I did a quick forum search but did not immediately find the answer.) For the case where folks choose to remain...

... Circling back here. You mentioned the following books Recommended library books. --The Only Investment Guide You'll Ever Need, Tobias. General personal finance topics. --The Bogleheads' Guide to Investing. Investing for retirement. --Date ...or Soul Mate, Warren. Priceless if you avoid the expense of a bad relationship/marriage/divorce. What about The Bogleheads' Guide to Retirement Planning? Or does the "Guide to investing Book" that you mentioned covered everything I need? First things first grasshopper. Your topic sounds like you are just starting out ...so only suggested the getting-started books. For completeness: recommended library books for planning to live in retirement. -- The Bogleheads' Guide to Retirement Plannin...

... I am leaning towards holding them separate like Vti/vanguard intermediate term municipal (Preferred course.) Regarding rebalancing May be I will adjust by using new Money (Acceptable.) The follow up question then is Does holding vwitx in taxable account add more taxes when compared to holding BIV in tax free accounts? (No, probably less tax.*) If yes roughly how much? It's preferably to hold discrete (not blended nor all-in-one) funds in taxable. Why? This makes it easier to TLH (tax-loss-harvest), which can lower your taxes. See: https://www.bogleheads.org/wiki/Tax_loss_harvesting By skewing your taxable account to bonds, this frees space in your tax-free accounts for more stocks which historically are expected to grow more. Your olde...

Wannaretireearly wrote: ↑Thu Feb 02, 2023 12:32 pm

RoadThunder wrote: ↑Thu Feb 02, 2023 12:25 pm Rebid all property and auto insurances. Not getting good vibes on auto insurance due spike in Florida claims from the past12 months.

I’m trying this. About to reach out to Geico. I have farmers.
Tried Costco, cheaper on the car insurance but more for home

Honestly not sure who else to try, aside from Geico.

Idea. Search a list of "mutual" insurance companies ...should have a lower profit motive.
Search: https://www.google.com/search?q=mutual+ ... anies+list

CYA. Then search for client problems with your candidate companies.

Didn't save any money, just removed a small annoyance. A childproof bottle cap is in two parts: outer and inner; I wanted to remove the inner part to use as an adult bottle cap. DIY adult medicine-bottle cap. --Stand original childproof bottle-cap on edge (tool: a vise helps; could also hold cap flat/bottom up (to see cut depth) over table edge). --Cut slit into edge of outer cap, up to but not into, inner cap (tool: hacksaw or similar fine-toothed saw). --Make similar second cut ~90°away to create small detachable edge. --Break off detachable edge (tool: pliers help). --Remove inner adult cap (tool: insert screwdriver between outer/inner parts and twist). Did you know that you can usually just flip the cap upside down to use your pill bot...

Didn't save any money, just removed a small annoyance.

A childproof bottle cap is in two parts: outer and inner; I wanted to remove the inner part to use as an adult bottle cap.

DIY adult medicine-bottle cap.
--Stand original childproof bottle-cap on edge (tool: a vise helps; could also hold cap flat/bottom up (to see cut depth) over table edge).
--Cut slit into edge of outer cap, up to but not into, inner cap (tool: hacksaw or similar fine-toothed saw).
--Make similar second cut ~90°away to create small detachable edge.
--Break off detachable edge (tool: pliers help).
--Remove inner adult cap (tool: insert screwdriver between outer/inner parts and twist).

Gotcha. If you TLH, then using TSM in your Roth would conflict with TLHing TSM in taxable. I sidestepped the problem by using VLCAX (LC index) in my Roth and TSM in taxable. In my Roth, instead I could have used S&P500 index fund + extended market index fund in 80/20 ratio to more closely approximate TSM, but I'm too lazy to mess with it, so decided to use LC index instead. Could you provide the reasoning behind using VLCAX in Roth and TSM in taxable, not the other way around? Currently I'm doing the opposite: TSM in Roth/HSA/401k and VLCAX and TLH with S&P 500, but I wonder if there is a reason to switch. i'm new to investing so trying to learn thank you! Some folks use S&P500 in taxable, and the forum seems to have no problem...

I'm trying to answer the question, "What's the biggest bang for your NEW* taxable buck in the current interest-rate environment?" * If your only interest is in moving old money into new savings, then do as you like. Existing money in the bank. I notice you joined the forum in 2013, so assume you have your 1st-tier EFs approximately as you want them ...just looking to boost their yield by moving them to banks paying more interest. But you can also boost the yield on your existing bank accounts by using the ABP by CC technique, so would not need to move your money/relink your financial life ...if that is more appealing for you. New money in taxable. So for your NEW money in taxable, you may be interested in growing your extended-tie...

In this I deviate from the forum's safe advice. I use Vanguard's LT national muni bond fund (VWLTX). Why? The current interest-rate environment is causing some exceptions, You need bonds. If you put some in taxable, that frees space in your TA (tax-advantaged = tax-deferred + tax-free) accounts for more stocks for their assumed increased growth (over bonds). What's not to love? I wasn't looking for general investing advice, but since you were nice enough to offer it I did take a quick look at VWLTX. Its one-year price ranged from $10 to $12, at times a 16% loss. And the one-year total return is -10.4% for 2022, excluding inflation losses. On the other hand, my bank accounts were guaranteed to increase in value, and most importantly are ins...

Depending upon where your new employer holds its 401k, it might be more convenient if you hold your personal accounts (taxable, IRA,...) there too. ** Fidelity and Charles Schwab are recommended brokerages for their low cost and customer service, ...if your new employer's brokerage is less customer friendly. When choosing a muni fund for your taxable account, it will probably be an ETF (exchange-traded fund), meaning the "IRS 6mo holding period requirement"* comes into play. * If selling muni shares at a loss (TLH), you must own those shares for >6mos, to claim the full loss. You must remember/do this ...to avoid the IRS paperwork reporting hassle. "An ounce of prevention...." (This IRS rule does not apply if selling for...

Idea. Use a tiered structure for your savings/emergency fund structure. --1st-tier EFs: checking, savings, CDs,... --Extended-tier EF: muni bond fund in taxable, justified by your future income. (Not a stock fund.) Just went though this drill, see: https://www.bogleheads.org/forum/viewtopic.php?p=7069631#p7069631 --For thoughts on using the "ABP by CC technique" to boost the yield on your 1st-tier EFs. --For choosing a muni fund. Generally we should match our savings vehicle to our need horizon. If our need is within: --0-5yrs: Use insured accounts (checking, savings, CDs,...). --5-10yrs: Safe bond funds. -->10yrs: Safe stock funds. But with your income potential, you could easily/quickly have many years of living expenses in a mu...

We are going to use the new accounts as an extended emergency fund, probably with Treasuries for a while but ultimately index funds. Sidebar. Stocks want to be in your rIRA. Why? Tax-deferred accounts (tIRA, t401k,...). Everything that comes out (withdrawals, conversions, RMDs) is taxed as ordinary income ...meaning the QDI/LTCG/FTC tax benefits are lost. Since bond dividends are treated no worse here than in taxable, some bonds can go here. And if you skew toward bonds, that should slow growth/taxes on future withdrawals/conversions. Tax-free accounts (rIRA, r401k,...). Everything that comes out is tax free. Since stocks are expected to grow more than bonds, skew toward stocks to maximize future withdrawals/bequests. Taxable accounts. Eve...

You don't need to chase teaser rates and account opening bonuses. Idea. There is a technique that added ~2%/yr tax-free to your existing low-interest checking/saving interest. Could use it to boost the return of your 1st-tier EF (emergency funds: 6-12mos of livings expenses in checking, savings, CDs,...). It saves having to chase bank teaser rates and account opening bonuses. So you can select your banking relationships for the convenience* they provide to your life, and stop worrying about it. It helps to simplify your life.** (* I prefer online bank and local CU that provided free mailed statements---easier for my heirs and me to remember.) * Some BHs do chase teaser rates and account opening bonuses. Claim to earn an additional ~$2K/yr d...

It all depends upon what you learned on and are comfortable using. I bought my HP-12C in 1986 (business classes) and now use it more often (balance checkbook,...) than any other, because it has larger keys/display. (Think I'm on my second set of batteries.) Since I don't carry it with me, when I want to encourage a youth to begin investing for their retirement and want to show the effects of compound growth (what they could have at retirement), I use saved examples on my smartphone: (1) Excel (saved document) and (2) HP-12C emulator (same examples as Excel). Why? To demonstrate that both give the same answer ...and both are free. I use this online HP-12C emulator on my smartphone: https://vichinsky.com.br/hp12c/hp12c.php Don't think your HP...

^^^ That's funny!


Silent protest. In the '80s, someone in the office staff suggested it'd be a good idea if everyone logged what they were doing at all times during the day. In this way, the office chief could look for wasted effort and so remove it.

I'd fill out my time sheet: "jotting notes on what I'm doing", "arranging and rewriting draft notes on what I'm doing", "logging final notes on what I'm doing", "working after hours to make up for the lost time during the day recording what I'm doing",....

Office staff eventually stopped nagging us to log our work day.

^^^ I've used whole nuts in an attempt to slow me down ...so I wouldn't eat too many at one sitting. Didn't work, but it did take longer.

I too used channel lock pliers, though grocery stores seem to sell whole nuts and nut crackers/picks in the fall.

Also needed a Bissell sweeper to clean up the under-foot aftermath.

I'm still trying to figure out goals for 2023. One of them will surely be to stop having personal finance conversations outside of my home or with other known bogleheads if I can resist. The general public just is not as informed, and I am losing the patience to explain basic concepts. Cheers to the new year :sharebeer :sharebeer I can relate. I sometimes feel I’m talking to a brick wall. Even with family. I wouldn't mind explaining basic concepts, if I thought they would listen. I can't tell you the number of times someone has randomly announced their "strategy." At least my cousin and her husband have good pensions, so it doesn't matter so much that her son told her to buy X, but forgot to tell.her to sell it...much more worrie...

^^^ Looking good ...as far has you've gotten. You do know this area is for testing posting features---to see if everything is working as you expect. Your real forum review is to be posted in the first forum section ("Personal Investments"). Idea for new members. If you'll do all of your work in a Word documents, you can do everything there and it should look okay when copy/pasted into a forum New Reply. --Most start by copy/pasting "Asking Portfolio Questions" into a Word document and save it on their PC. --Then edit it on their PC until it is the way they want it. Testing special text formatting. If you need any special text formatting (bold, italics, bullet points,...), those can be inserted after you copy/paste your W...

Having observed yet another zombie thread be resurrected (this particular one from 2012), I wonder if the admins have considered adding one of the auto-lock extensions that automatically locks posts after x days of no activity. The value for x could be very generous, to allow the OP to follow-up at a later date if desired. Sometimes, an OP will return several years later, update his topic to tell of his success in following the forum's advice, and thank those who helped him. Those updates are always appreciated and his helpers (if still following the topic) will receive the "New reply received" update and their "Thanks." I really like those "warm fuzzies"; would hate to miss them because a topic was locked.

I always cut the supposedly empty toothpaste tube in half, push the tooth brush into the inside of the tube and get more toothpaste out that way, to brush my teeth several more times before throwing the now completely emptied out tube away :) That is a great idea, now that most tubes are plastic. When they were more of a "foil", they could be compressed and hold that shape. Now, the plastic doesn't compress that much to begin with, and once one moves along the tube, whatever compression one had pretty much disappears. I never felt I was leaving that much in the foil tubes, but nowadays, with the plastic type tubes, it's quite different. Thanks. RM To get all the toothpaste out of a plastic tube, I use a paper binder. See picture ...

We currently hold VFIAX in our RJ portfolio (yes I am smacking my forehead on this), so I plan to leave that alone for now. What else would you recommend in order to balance the portfolio? If you regret owning this in taxable, make sure you have automatic dividend/cap gains reinvesting turned off so you won't accidentally buy more of it. There is no reason to regret owning VFIAX (S&P500 index fund, Admiral shares). Why? Stuff BHs know, and that you'll learn. --Vanguard's S&P500 index fund was used by Warren Buffett to win a $1M bet against 5 hedge fund companies. --When appropriately paired with its completion index (VEXAX, extended market index fund, Adm), it replicates TSM (total stock market index fund). --Therefore is an excell...

Please consider updating your OP (original post, original poster) to include all of the information requested in the sticky "Asking Portfolio Questions": https://www.bogleheads.org/forum/viewtopic.php?t=6212 . The fastest way for you to develop a good investing game plan is to request a forum review. --Copy/paste sticky to your PC as a Word document. --Overwrite sticky with all of your information. (Take as much time as you need: the more complete is your info = the better our suggestions.) --Once you've gathered all of your information, then edit your OP (click the stubby pencil icon) by pasting your information into the bottom of it. --Preview your edited OP (click Preview); and Submit when you're satisfied. --Create a new reply...

Tax-deferred accounts (tIRA, t401k,...). Withdrawals lose QDI/LTCG tax benefits, but ordinary dividends are taxed no worse here than in taxable. Since bonds are expected to grow less than stocks, skewing to bonds (ordinary dividends) should slow growth/taxes on withdrawals, conversions, RMDs for surviving spouse. Tax-free accounts (rIRA, r401k,...). Since stocks are expected to grow more than bonds, skewing to stocks should increased growth/tax-free withdrawals, bequests. Taxable. Investments reported here (Sch B part 2) should have offsetting tax benefits for QDI, LTCG, FTC, and TE dividends. Since everything reported on Sch B part 1 is taxed as ordinary income (bank/savings bond interest, account opening bonuses,...) it's recommended to m...

LadyGeek wrote: ↑Tue Dec 27, 2022 6:28 pm Thanks! I also posted that notice at the top of the wiki page. I'm guessing it's more easily seen in the forum. I'll post in both the forum and wiki whenever we need to do an upgrade.

Idea. Don't know how much work you had to do to post the notices, but ...would it be possible to create some type of note field, at the top of each of the pages---that is normally invisible when blank, but visible when populated---and populate it from a single source when needed? That way, in future when needed, you post a notice once and it's echoed on every page.

LadyGeek,

I saw your posted notice at the top of every page---checked every forum area to confirm---telling of the impending wiki update. That heads up was most helpful. Thanks.

... Respectfully, I don't think any of the above is necessary. On the 5500-EZ, reflect the beginning 2022 assets and liabilities as zero and the ending assets and liabilities as zero. I think following the above advice would be a red flag (a paper 1040 with an attachment) to a bull (the IRS). Plus, the poster is assuming that the IRS folks who get the 5500-EZ (which is filed by the employer) will reach out to the IRS folks who deal with 1040s (which are filed by the participants) and tie the two together. This is highly unlikely, even if just because your SS number will be nowhere on the 5500-EZ. I wouldn't say your situation is a common occurrence but sponsors setting up 401(k)s that are never funded is probably a frequent occurrence. I d...

...I don't think that Fidelity's closure of the account was constructively a plan termination, but that's a fine point... Isn't plan considered terminated when the assets of the plan go to zero i.e. they're distributed even if there is no agreement to terminate the plan? No, the account is NOT the plan; the plan is considered terminated when the sponsor terminates it. OP should draft and sign a document that says something like: "I, as sponsor, hereby terminate my plan identified as [name of plan] with effect from December [__], 2022." The OP should then file a5500-EZ reflecting the termination--and add the written termination to his tax files. I think this is a great suggestion. It formalized the plan termination and allows me t...

Maybe I'm too paranoid as I've tried to keep my Samsung phone (A11, ~2yrs old) as sterile as possible. dratkinson - are you my long-lost twin? I agree with you totally but never thought to use the word "sterile." That is my goal and I thank you most sincerely for your response & ideas! You must be thinking of VictoriaF. See: https://www.bogleheads.org/forum/viewtopic.php?t=371868 Last spring, several of us helped her review 4G upgrade options when her cell plan provider announced it was moving away from her 3G flip phone. She wanted another dumb "feature phone" so it was less likely to expose her to security issues. Her security concerns did affect me and I began to wonder if I should be doing less with my smartphon...

Idea for additional deductions. --You have until Apr 15(tax filing deadline?) of next year, to contribute to his/her IRAs for this tax year (2022).* --This means you can use 2023 income to fund your 2022 contributions, getting you additional deductions for 2022. * N.B. Ensure you submit the IRA contributions paperwork correctly; that you mark it as contributions for tax year 2022. Their income is probably too high to make a deductible IRA contribution. See: https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work (I'm assuming OP is MFJ and both are covered by a retirement plan at work.) Good c...

Maybe I'm too paranoid as I've tried to keep my Samsung phone (A11, ~2yrs old) as sterile as possible. I only use it to replace missing pay phones, and for turn-by-turn map directions. My intent was that it have nothing on it of value, so it compromises nothing if lost. I watches some YT videos for how to set it up (turn this ON, turn that OFF) to maximize security/privacy. Search: https://www.google.com/search?&q=security+settings+for+android+cell+phones It is never used to access any financial account, so has none of their apps. It does have a few (I believe) harmless links on the home screen: BH forum (reading while waiting for an appointment), weather radar/road conditions travel planning, HP-12C emulator, OTA TV guide,.... Real ema...

Idea for additional deductions.
--You have until Apr 15(tax filing deadline?) of next year, to contribute to his/her IRAs for this tax year (2022).*
--This means you can use 2023 income to fund your 2022 contributions, getting you additional deductions for 2022.

* N.B. Ensure you submit the IRA contributions paperwork correctly; that you mark it as contributions for tax year 2022.

Idea. You could play dumb.

If the IRS knows about the opening of the solo 401k, then it also needs to know about its closing/distribution.

Use the required Fidelity form and tell Fidelity that you want to close your plan this year.

Then file the required IRS form to say you closed the plan this year.

Having $zero money in the plan should make the plan distribution easier; could move it ($0) to taxable and include it in your tax return.



I know nothing.

A senior BH has noted that we should review our Sch B for tax efficiency. --Sch B, part1: everything here (bank/savings bond interest, account opening bonuses) is taxed as ordinary dividends, so should be minimized or eliminated. --Sch B, part 2: everything here should have offsetting tax benefits for: QDI* (qualified dividend income), LTCG (long term capital gains), FTC** (foreign tax credit), ...and TE dividends (tax-exempt dividends, I added this to his list). It seems to me that this sort of “advice” is much more general than specific. To wit, if you can earn 3% in a taxable CD but 2.5% in a tax-exempt bond, and the total amount of income that you’d receive from the CD (plus any other ordinary income) is [less than?] than your standard...

From my forum readings.... During a crash: --Stocks can lose 50-90%. --Bonds can lose 5-15%. --Stock/bond crashes are not typically coincidental. --Most crashes recover within 4yrs. (Exception: ~10yrs for 1930s great depression.) ... Stock/Bond crash this year _was_ coincidental. Not surprising as interest rates could only really go up, in particular in Europe. But what really annoys me with the much quoted recovery times are that: - it only applies to the US, so far. Check Japan 1989, New Zealand ~1990, UK 1970, Russia 1917 (!) - it is in nominal, not real values. Try to see curves corrected for inflation and you find quite a few period where it has taken over 10 years to recover the value. Noted. --And that's what TLHing is for. --Had no...

Cut my pizza into 4 slices, so I wouldn't eat 8.