Search found 361 matches

by MichDad
Thu May 24, 2018 6:39 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 975
Views: 171189

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

For straight cash with 100k, the TD Ameritrade deal is probably the best at $500. https://www.tdameritrade.com/offer/tdbankoffer/index.html This is perfect. Thank you very much! MichDad Did Schwab give you the bonus? I'm asking them to match at the $1000 level for a rollover. Not planning on churni...
by MichDad
Fri May 18, 2018 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

Does it really matter? The small loan amount, low interest rate and short term say - dont payoff. Basically, I took a little over $20,000 from a bank money market account earning 1.74% APY and paid off the remaining balance on our 2.49% mortgage. I have over $50,000 in the bank money market after h...
by MichDad
Wed May 16, 2018 6:24 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

This is an update from the OP.

I retired on March 31st. Earlier this month, I paid off our mortgage (about ten months early). My sleeping habits haven't changed.

MichDad
by MichDad
Wed May 16, 2018 6:11 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 190
Views: 24530

Re: Roll Call for the Retirement Class of 2018!

17 more paychecks (and TSP deposits) for meeee... Bayview, Don't stay on the job if making TSP contributions is your only hurdle. I retired on March 31st and compressed my full $24,500 in TSP contributions into the eight pay periods I had in 2018. If you'd like, you can accelerate your TSP contribu...
by MichDad
Fri May 11, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Insurance Needs While Living Abroad
Replies: 7
Views: 700

Help With Insurance Needs While Living Abroad

My wife and I are recently retired US citizens. We're maintaining our US house and residence and our existing homeowner's insurance policy. We're planning to do extensive traveling abroad over the next few years. It's possible we'll be outside the US more than in country beginning in 2019. This year...
by MichDad
Tue May 01, 2018 10:35 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 975
Views: 171189

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Earl Lemongrab wrote:
Tue May 01, 2018 7:23 pm


For straight cash with 100k, the TD Ameritrade deal is probably the best at $500.

https://www.tdameritrade.com/offer/tdba ... index.html
This is perfect. Thank you very much!

MichDad
by MichDad
Tue May 01, 2018 5:46 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 975
Views: 171189

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I'm moving just over $100,000 into a new Schwab Roth IRA account. The Schwab representative has told me that they'll match any monetary offer by another firm so long as I can send them a link. I'd greatly appreciate it if fellow Bogleheads can point me to a current cash offer that matches our condit...
by MichDad
Mon Mar 26, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Kiplingers Retirement Report
Replies: 17
Views: 3376

Re: Kiplingers Retirement Report

Let me apologize in advance if this sounds like a rant. It’s not meant to be. I subscribed to Kiplinger’s for several years. A few years ago, Kiplinger’s starting running full page advertisements for a scam artist who purported to have a system guaranteed to earn his adherents high percentage gains ...
by MichDad
Fri Mar 23, 2018 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Present Value of a FERS Pension with a Spousal Benefit
Replies: 7
Views: 868

Re: Present Value of a FERS Pension with a Spousal Benefit

In your original post, you set the spousal benefit at 50% of the unreduced amount, MichDad. I believe it should be 50% of the reduced amount so I'll use $29,550 ($2,462/mo) instead of the $32,800 in your original post. It's 50% of the unreduced amount. #Cruncher, rkhusky is correct. My wife's survi...
by MichDad
Tue Mar 20, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Present Value of a FERS Pension with a Spousal Benefit
Replies: 7
Views: 868

Re: Present Value of a FERS Pension with a Spousal Benefit

What is the basis for the Life Expectancy tables you cite? I see the note that the data comes from the US Census and SSA, but do you have any more detail? My understanding is that Mortality tables for pension calculations can vary widely. I need to make a similar valuation myself soon. I provided a...
by MichDad
Tue Mar 20, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Present Value of a FERS Pension with a Spousal Benefit
Replies: 7
Views: 868

Present Value of a FERS Pension with a Spousal Benefit

I’m hoping Bogleheads steeped in math or finance will help calculate the present value of my Federal Employees Retirement System pension, bearing in mind that it has a spousal benefit. Here are the numbers I think are relevant. If there are others, please let me know and I’ll provide them. I’m the a...
by MichDad
Mon Mar 12, 2018 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation once you've passed your "number"
Replies: 41
Views: 3603

Re: Asset Allocation once you've passed your "number"

When I passed my number two or three years ago, I made no changes. However, a year ago, after 30 years of investing only in US and international equities (no bonds), I finally moved ~35 percent of our combined retirement portfolio into the TSP G Fund and kept the rest in US and international equitie...
by MichDad
Mon Feb 26, 2018 4:19 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

Can you increase any tax deferred contributions for the next 12 months with the monthly amount ($1500?) going to mortgage ?(assuming you pay it off). Then you save more on taxes this year and some next by reducing your taxable income. By the time I retire on March 31st, I'll have fully funded my TS...
by MichDad
Mon Feb 26, 2018 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

MichDad, curious what you decided now that you approach that retirement finish line. Are you paying off the $22K mortgage? That's a good question. I haven't yet paid it off. I remain torn by this. I think under the new tax law, my interest payments, low as they are, are not deductible in our situat...
by MichDad
Mon Feb 26, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employees, leading up to retirement?
Replies: 109
Views: 7683

Re: Federal Employees, leading up to retirement?

I'll be retiring on March 31, 2018 as a FERS annuitant with over 35 years of service, over age 62, with well over a year of unused sick leave. I accelerated my TSP contributions so that I'll contribute $24,500 to my Roth TSP in the eight pay periods my agency has between January 2nd and March 31st. ...
by MichDad
Thu Feb 15, 2018 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge -- Please Help Me Identify Low Expense Funds
Replies: 2
Views: 266

Merrill Edge -- Please Help Me Identify Low Expense Funds

I'm about to move two Roth asset accounts from Vanguard and Fidelity to Merrill Edge's self-directed platform in part to take advantage of a $900 per account promotion (one for me and one for my wife). I'd appreciate recommendations of very low expense ETFs or mutual funds available at ME that seek ...
by MichDad
Tue Feb 13, 2018 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge - Platinum Honors
Replies: 31
Views: 3825

Re: Merrill Edge - Platinum Honors

Merrill has a great setup if you're fine to use ETFs which I think a significant amount do anyway. With $50k combined balance (which includes BofA accounts) you get free trades per month. At $100k, you are in line to get the free trades and also a great credit card (after 90 days) with BofA at 2.62...
by MichDad
Thu Feb 08, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: HSA...let me get this straight
Replies: 36
Views: 3905

Re: HSA...let me get this straight

I keep one shoe box for each year. In it, I'm putting all of my health insurance company's EOBs, health provider and pharmacy invoices, and credit card receipts to the extent I have them and can remember to save them. Don't forget about using HSA monies to pay for Long Term Care Insurance premiums. ...
by MichDad
Tue Feb 06, 2018 4:23 pm
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

I believe that is true. If it were permitted, it would be big news.

MichDad
by MichDad
Tue Jan 23, 2018 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6372

Re: Am I being greedy?

I have a COLAed pension also, and my husband has a partially-COLAed one. It is important to acknowledge that it is relatively easy to maintain a very high equity exposure, even as you get close to retirement, when you will have SS and a significant COLAed pensions in retirement. This is especially ...
by MichDad
Tue Jan 23, 2018 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6372

Re: Am I being greedy?

I have been effectively 100% in stocks since I started in 1987, so I obviously don't have any problem with the concept. This statement though does give me pause: With that said, I can't help but always wanting to reach the next milestone. I have a sense that this "want" will never go away and that ...
by MichDad
Wed Dec 20, 2017 1:49 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

I recently received an email from Kim Weaver, Director of External Affairs at the Federal Retirement Thrift Investment Board, with the following text: "The TSP does not require a legislative change to allow different withdrawals from traditional TSP vs. the Roth TSP. A legislative change is not need...
by MichDad
Tue Nov 28, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: How to best fund a second home from 401K/IRA??
Replies: 11
Views: 785

Re: How to best fund a second home from 401K/IRA??

Diogenes, I'm close to retirement and am thinking of doing something similar. We're just starting to look at properties and won't pull the trigger until we find exactly what we want. I've also been considering our payment options for the new foreign property. I first want to explore obtaining a mort...
by MichDad
Tue Nov 28, 2017 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Re: Social Security Calculation Question

rkhusky wrote:
Mon Nov 27, 2017 2:56 pm
At 70, the cost will be about $180/yr.
Thank you, rkhusky. That is the information I was seeking when I began this thread.

MichDad
by MichDad
Mon Nov 27, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Re: Social Security Calculation Question

Admiral, diy60, and rkhusky, As one former President was fond of saying, "Let me be perfectly clear." Unless the sky falls or a black swan swims into me, I'll begin to collect my Social Security benefits when I turn 70. The purpose of my original question was only to see how much of a penalty I'll s...
by MichDad
Mon Nov 27, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Re: Social Security Calculation Question

Are these numbers for taking it at 62? Because they seem to be quite low if you are taking it at your FRA. It should be close to or more than about 3000 per month at FRA when you have had maximal wages. I didn't see a clear statement on this. It looked to me, since I'm now 62 years old and eligible...
by MichDad
Mon Nov 27, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Re: Social Security Calculation Question

Looks like the SS online Anypia calculator should be pretty quick to use. You could just paste in the same big number over the maximum (e.g. the same $127,200) for all the inputs (case 1), and then for case 2 change the 199x year to your actual 72% of max earnings. https://www.ssa.gov/planners/reti...
by MichDad
Mon Nov 27, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Re: Social Security Calculation Question

You don't have to guess at anything. Go to www.ssa.gov and login and see what SSA has for you. I thought the problem with using my personal benefits statement is that the SSA assumes I'll keep working until I reach my full retirement age. The problem with that is it will substitute my one year of 7...
by MichDad
Mon Nov 27, 2017 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Question
Replies: 19
Views: 1724

Social Security Calculation Question

I'd appreciate help with my Social Security benefits calculation. When I retire next year, I'll likely have 34 years of having earned more than the maximum Social Security wage base amount. For example, for this year, I'll earn greater than $127,200. My only year at less than the maximum Social Secu...
by MichDad
Fri Nov 24, 2017 8:27 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

Personally, I'd pay it off and be done with it. But more importantly, what does your wife think? I was waiting for that question. She lets me handle all the financial stuff so she'll quite willingly defer to me. However, if it were her decision with no input from me, I'm pretty sure she'd want to p...
by MichDad
Fri Nov 24, 2017 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

How much cash would you have left in savings account, if you did choose to withdraw and pay off house? The cash account is probably yielding less than after-tax cost of mortgage. I’d pay it off, if I had enough cash in account to meet needs. It would probably reduce my cash on hand by about 70 perc...
by MichDad
Fri Nov 24, 2017 7:23 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Re: Should I Pay Off My Mortgage When I Retire?

oldcomputerguy wrote:
Fri Nov 24, 2017 6:56 am

Will you be making the payments with IRA draws, or from some other source?
If I pay it off in one shot, I'll simply withdraw cash from a bank account. I will not be withdrawing that money from my TSP or IRA accounts.

MichDad
by MichDad
Fri Nov 24, 2017 5:21 am
Forum: Investing - Help with Personal Investments
Topic: Should I Pay Off My Mortgage When I Retire?
Replies: 49
Views: 3729

Should I Pay Off My Mortgage When I Retire?

My wife is retired. When I retire next March (at age 62), I’ll have a remaining mortgage balance of approximately $22,000 that will be paid off in March 2019 if I make the regularly scheduled payments. The interest rate is 2.49 percent on the five year loan. If I wanted, I could easily pay off that ...
by MichDad
Fri Nov 24, 2017 1:27 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

Nearing Destination and Blues, You and others like you should be particularly interested in seeing the FRTIB move on these issues. Earl, both my wife's two 401(k) plans allow her to invest her Roth and regular contributions differently at the same time. I'd like to do the same with my TSP account. M...
by MichDad
Thu Nov 23, 2017 9:40 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

MichDad, until (if?) that happens, now that you can make more than one partial withdrawal from the TSP in your lifetime, could you withdraw from your TSP all but a token amount ($1,000?) into traditional and Roth IRAs, then transfer back in as much traditional funds as you can from your traditional...
by MichDad
Thu Nov 23, 2017 5:35 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

In light of the passage of the TSP Modernization Act, here is what I view as the three most serious remaining flaws in the TSP versus most large 401(k) plans. Numbers 2 and 3 below are obviously related. 1. The inability to make in-plan Roth conversions within the TSP; 2. The inability to hold Roth ...
by MichDad
Thu Nov 23, 2017 1:43 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: TSP Modernization Act Signed Into Law

It's good to know that there are legal provisions for and precedents of in-plan conversions. Now, all I want is for the TSP to implement something similar. I would like pay taxes on in-plan conversions within TSP, keep my G fund, and stop bothering with the CD rates. I hope this will become possibl...
by MichDad
Wed Nov 22, 2017 3:37 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: TSP Modernization Act Signed Into Law

Next we we need to be able to make conversions from Traditional TSP to Roth TSP. Do you know if regular 401(k) plans allow in-plan Roth conversions? Victoria My wife has two separate 401(k) plans with two different employers. One plan is administered by Fidelity and the other by Schwab. In both ins...
by MichDad
Sun Nov 19, 2017 2:59 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 190
Views: 24530

Re: Roll Call for the Retirement Class of 2018!

Miriam,

I've decided to advance my retirement date by one month. It's now set for March 31, 2018; only 131 days away and counting.

MichDad
by MichDad
Fri Nov 03, 2017 2:23 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2456

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

Let's say a FERS employee is 60 years old and eligible to retire today. She has 40 years of service (including unused sick leave) and an average high three of $150,000. Her FERS pension will be $60,000 per year. If the only difference in this hypothetical is that the FERS employee is 62 years old (a...
by MichDad
Thu Nov 02, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2456

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

The estimate of $10,000 extra per year by waiting to age 62 to begin collecting on a FERS pension seems very high to me. Please check that estimate again. I'll have about 37 years of service when I retire next year (including unused sick leave). My FERS bonus will be "only" about $6,500 per year. Mi...
by MichDad
Thu Nov 02, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.
Replies: 18
Views: 2456

Re: FERS eligible. Do I have enough to retire now or wait till 62? Would appreciate a review of my finances.

Let me raise two points that I didn't see addressed by previous posters. 1. Do the sums provided for DW's FERS pension include the survivor benefits for DH? If not, those numbers will be ten percent lower and that could make a difference in your planning. 2. I see you've listed $200,000 in savings, ...
by MichDad
Tue Oct 24, 2017 4:36 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 97
Views: 10068

Re: Is it ok to have 100% stocks, 15 years+

I'm not recommending that anyone replicate what I've done. I'm simply reporting on it. In the mid-1980s, as I was thinking about saving for retirement, I read investment newsletters from T. Rowe Price that compared how various asset classes performed over time. I saw that stock portfolios beat other...
by MichDad
Wed Aug 16, 2017 2:10 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 190
Views: 24530

Re: Roll Call for the Retirement Class of 2018!

My countdown calendar app tells me I'm 261 days away. I'll be 62 when I retire. I can't wait to start spending the money I've been socking away for this purpose since 1987. The CountDown Calendar!! But wait - what are you going to spend all that money on ?? :mrgreen: We're planning lots of internat...
by MichDad
Fri Aug 11, 2017 6:16 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 190
Views: 24530

Re: Roll Call for the Retirement Class of 2018!

My wife is already retired. I'm targeting April 30, 2018 as my retirement date. I might move it up if I'm offered cash to leave earlier. I doubt I'd move it back. I'd like to contribute the maximum $24,000 to my Roth TSP account plus $13,000 to our Roth IRAs before I retire. If those limits are incr...
by MichDad
Thu Aug 10, 2017 12:54 pm
Forum: Investing - Theory, News & General
Topic: What Percentage CASH are you?
Replies: 168
Views: 16994

Re: What Percentage CASH are you?

I'm 62 years old and eligible to retire with a pension. We've got 33 percent of our entire retirement portfolio in the TSP's G Fund, which is pretty close to cash. We also have about 1 percent of our entire retirement portfolio in a "high" interest money market account. We hold no traditional bonds ...
by MichDad
Thu Aug 03, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 30407

Re: A poll: How much money do you need to retire?

I'm 62 and will retire before I reach 63. My wife is already retired. I want to have at least $2.5 million in our retirement accounts before I retire. This is in addition to my inflation-adjusted pension for which I've already qualified but have not begun collecting. We presently have over $2.8 mill...
by MichDad
Tue Jul 25, 2017 7:21 am
Forum: Investing - Theory, News & General
Topic: Improving the TSP [for current participants]
Replies: 243
Views: 40826

Re: Improving the TSP [for current participants]

For others asking for the ability to do Roth conversions, do any 401ks actually allow this? I'm pretty sure my private 401k (at VG) did not. Obviously once you are no longer employed there you could separately withdraw so you could withdraw from traditional and convert to Roth IRA but I don't think...
by MichDad
Fri Jun 23, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 2064

Re: Another Roth vs. Traditional debate, but for high-income Feds

I’ve been contributing to the TSP since 1987. My total TSP balance is now over $1.7 million. From 1987 to 2012, I had no choice but to invest into the regular TSP. Beginning in May 2012, I started investing only into the Roth TSP. [Of course, the government match has continued to go into the regular...
by MichDad
Thu Jun 22, 2017 9:29 am
Forum: Investing - Help with Personal Investments
Topic: fed employees & all the eggs in the TSP basket
Replies: 22
Views: 3263

Re: fed employees & all the eggs in the TSP basket

MichDad You said you wanted to move all but $200 from TSP -- note that you need to leave more than that (I think it needs to be at least $3k) or else they will close your account and send you a check for your balance. Review minimum balances on the TSP site. ND, Here's a quote from page 3 of the TS...