Search found 6864 matches

by JW-Retired
Sat Sep 22, 2018 8:07 pm
Forum: Investing - Help with Personal Investments
Topic: How to fund education for grandchildren: various strategies? Help?
Replies: 22
Views: 998

Re: How to fund education for grandchildren: various strategies? Help?

I am one of those who uses the expression "man plans and God laughs". If you could afford it I just think it's best to pay for it when the time comes. You can write the check directly to the educational Institution. But this gets back to my point about allowing the parents to plan. “I’ll write a ch...
by JW-Retired
Sat Sep 22, 2018 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning Attorney Says Putting tIRA in a Revocable Trust is "Complicated" - True?
Replies: 41
Views: 2373

Re: Estate Planning Attorney Says Putting tIRA in a Revocable Trust is "Complicated" - True?

I don't know but have you considered the 100% DIY approach? Split your IRA accounts into two (or more) and put different beneficiaries on each account. IMO, that has to be the lowest cost and least complicated thing. JW I don't understand how you would do this. There is one beneficiary (daughter) u...
by JW-Retired
Sat Sep 22, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning Attorney Says Putting tIRA in a Revocable Trust is "Complicated" - True?
Replies: 41
Views: 2373

Re: Estate Planning Attorney Says Putting tIRA in a Revocable Trust is "Complicated" - True?

So, the purpose of a trust for the IRAs is to support her during her life (and any children, spouses, if that situation changes), but donate the money to various charities upon her death. Is this too ambitious, impractical or unrealistic? I don't know but have you considered the 100% DIY approach? ...
by JW-Retired
Fri Sep 21, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Question re SS Restricted Application for Benefits
Replies: 3
Views: 266

Re: Question re SS Restricted Application for Benefits

I am old enough to qualify for this and I intend to do so when I am 66 waiting until I am 70 to claim benefits under my own work record.. My wife intends to file for her benefits when she turns 65 approximately one month before I file my restricted application. In this situation would I be entitled...
by JW-Retired
Fri Sep 21, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 107
Views: 7674

Re: Delaying Social Security Until 70

We took it a 62 and now in late sixties. I know we've used a couple of hundred thousand of SS money while ours continued to grow. A bird in the hand kind of thing. I have zero regrets!! .............. .............. I'm happy 😀 IMO, it's more like you caught the bird in the bush. The US stock marke...
by JW-Retired
Thu Sep 20, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Apply for Social Security Widow Benefits and More
Replies: 14
Views: 1002

Re: Best Way to Apply for Social Security Widow Benefits and More

I believe that I can receive 100% of my husband's benefit at my full retirement age, then switch to my own benefit at age 70. I am not sure that this is advantageous (I don't know that my benefit at 70 will be more than his benefit amount), but I know that his benefit will be more than mine at age ...
by JW-Retired
Thu Sep 20, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: What is a reasonable fee charged by financial planners?
Replies: 30
Views: 2109

Re: What is a reasonable fee charged by financial planners?

I already have my plan in Excel but am running into its limitations for determining optimization strategies on such things as when to take SS, when to turn on distributions of several retirement accounts, and possible need to do Roth conversion. Trying to avoid tax torpedo at age 70. I admit I'm di...
by JW-Retired
Thu Sep 20, 2018 9:47 am
Forum: Investing - Help with Personal Investments
Topic: Roth Income Limit
Replies: 9
Views: 816

Re: Roth Income Limit

What happens if I make contributions to the Roth IRA, and then I find out later that my contribution is reduced? This happens all the time and it can be undone if you fix it before your taxes are filed. Google "what happens if you contribute to a roth ira but made too much money",............ or an...
by JW-Retired
Wed Sep 19, 2018 8:05 pm
Forum: Investing - Help with Personal Investments
Topic: need advice about my 401(k) from previous employer
Replies: 3
Views: 206

Re: need advice about my 401(k) from previous employer

SeekingAdviceVA wrote:
Wed Sep 19, 2018 7:14 pm
Any thoughts? Do I need share any other information?
Of course you do. It's all about which 401k has good investment choices and low costs.

If the previous one is better hang on to it.
JW
by JW-Retired
Tue Sep 18, 2018 6:59 pm
Forum: Investing - Help with Personal Investments
Topic: Help with limited 401k fund options
Replies: 6
Views: 294

Re: Help with limited 401k fund options

I think your funds show some promise..... but you need to look in your 401k information to determine the expenses. What we can find on the internet for individuals buying these funds directly can be a lot different. Usually higher expenses in the 401k but not always.
JW
by JW-Retired
Tue Sep 18, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Argument for taking social security before 70. Comments?
Replies: 111
Views: 7366

Re: Argument for taking social security before 70. Comments?

Taking SS early causes a number of issues not directly related to the funds received when you take them early: - limiting Roth conversions - limiting survivor benifits (especially valuable with age differences) - Ability to lower taxes after 70 - Ability to lower taxes as a single filer later on - ...
by JW-Retired
Sun Sep 16, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 107
Views: 7674

Re: Delaying Social Security Until 70

Not much notice here that SS income is more lightly taxed then most all other retirement income. It really is a huge deal if you live in a high tax state that has a 9+% income tax on everything but SS. My fairly high Fed+State marginal income tax rate on RMDs & pension is 1.46x bigger than the margi...
by JW-Retired
Sun Sep 16, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 107
Views: 7674

Re: Delaying Social Security Until 70

So as I understand that I could take my SS at 66. My wife is younger by 3 years and has a bigger ss coming. If she plan on taking at 70 but dies on the way. At my 70 I can switch to her SS that she would get at 70. I'll try. Her plans don't matter just her age at date of death, and your age only ma...
by JW-Retired
Sat Sep 15, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5958

Re: Leasing Cars in Retirement

Your thread is timely! We are in the market for a new car soon and I hadn't given a thought about leasing until this thread. We have been in the habit of keeping cars 10+ years (it's 20 for our commute car we now drive very little). One of the reasons for that is I just detest buying cars. :oops: I...
by JW-Retired
Fri Sep 14, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5958

Re: Leasing Cars in Retirement

Wanted to get others thoughts on leasing cars in retirement in lieu of triggering an additional taxable event by spending down investments. Thinking $350 or so monthly for three years within mileage allowances, wash and repeat. Pluses are covered maintenance and investments continue to grow. Please...
by JW-Retired
Fri Sep 14, 2018 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Excess Contribution options
Replies: 8
Views: 256

Re: Roth IRA Excess Contribution options

How did you get the all the money into the Roth? If it came from gains in the Roth you have no problem. JW Hi JW, Sorry for the confusion. All of this took place in my Roth IRA. I just listed those other accounts in case it was relevant to my options. The balances are a starting balance Jan 1, 2018...
by JW-Retired
Fri Sep 14, 2018 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Excess Contribution options
Replies: 8
Views: 256

Re: Roth IRA Excess Contribution options

Hi all I made a partial contribution of around $900 in January 2018. I then sold out of a large equity position in March 2018. I contributed the rest of the $4600 contribution after I sold the equity. The selling of the equity put me over the income limit for contributions for 2018. I am not eligib...
by JW-Retired
Fri Sep 14, 2018 11:54 am
Forum: Investing - Theory, News & General
Topic: Age in Bonds - Still Recommended?
Replies: 142
Views: 10098

Re: Age in Bonds - Still Recommended?

IMO, some bonds make sense since you may need to take serious money from your retirement savings even well before you want to retire. Big personal or general long term emergencies do sometimes happen. It's also very possible that both sorts of emergencies will hit you at the same time. If you lose y...
by JW-Retired
Thu Sep 13, 2018 8:34 am
Forum: Investing - Help with Personal Investments
Topic: Another high expense-ratio 401(k), Help!
Replies: 22
Views: 1235

Re: Another high expense-ratio 401(k), Help!

After a year and a quarter, I am finally able to participate at my (<10 employees) organization's 401(k) plan. I wasn't expecting great expense ratios, but I was surprised with the combination of high expense ratios, few selections, and basically a lack of index funds (only one!!! :oops: ) I've tri...
by JW-Retired
Wed Sep 12, 2018 10:20 am
Forum: Investing - Theory, News & General
Topic: Argument for taking social security before 70. Comments?
Replies: 111
Views: 7366

Re: Argument for taking social security before 70. Comments?

The following is copied from a post by an investor at the the Fidelity website. I assume I am not violating any rules by reproducing it here. The author makes an argument for taking social security benefits at age 66. It would be very interesting to hear what some of the sharp minds here have to sa...
by JW-Retired
Tue Sep 11, 2018 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: backdoor Roth conversion - is this is correct?
Replies: 12
Views: 951

Re: backdoor Roth conversion - is this is correct?

Also, there likely will be a smallish taxable event on this conversion based on the gains accrued by your after-tax investments while in the tIRA... I need to check this out. Everything I have read so far has stated that any gains realized by my post tax contributions now become become "pre-tax" by...
by JW-Retired
Tue Sep 11, 2018 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: backdoor Roth conversion - is this is correct?
Replies: 12
Views: 951

Re: backdoor Roth conversion - is this is correct?

Yes, correct to both your questions.

For any year there were any non-deductible contributions, have you documented all with IRS 8606 forms? That would make this quite easy.
JW
by JW-Retired
Mon Sep 10, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: When to Tap Into SS
Replies: 14
Views: 1653

Re: When to Tap Into SS

Cincinnati Kid, IMO, you are not telling us enough about your investments & expected income. Are they all tax deferred? What are your Federal and state tax brackets now? What will they be when you retire and then when wife is retired? A big consideration about delaying SS or not is your tax situatio...
by JW-Retired
Mon Sep 10, 2018 9:10 am
Forum: Investing - Help with Personal Investments
Topic: General check-up on retirement financial status
Replies: 22
Views: 1617

Re: General check-up on retirement financial status

It sounds like you are waiting until 70 to start SS which is also a smart move. elgob, Yes, for sure! When you have SS + pension + RMDs your tax bracket will be high. Likely over 30% counting your state tax and AMT and NIIT. Delaying SS to 70 is the easy and best thing you can do to hold down these...
by JW-Retired
Sun Sep 09, 2018 9:36 am
Forum: Investing - Help with Personal Investments
Topic: 401K closing -- what to do with money?
Replies: 7
Views: 620

Re: 401K closing -- what to do with money?

I would put the $500k non-Roth portion into your current employer 401k. The extra 0.22% fee is not all that bad, and IMO the extra 20-25 years of backdoor Roth contributions outweighs it.

Plus I agree with Dottie57 that 401k's are more sheltered from lawsuit judgements.
JW
by JW-Retired
Sun Sep 09, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Bored
Replies: 56
Views: 9391

Re: Bored

delamer wrote:
Mon Jul 16, 2018 10:55 am
I learn something from this forum almost every day.
Yes, same here. But it's a rare thing that it's something I need to take any action on.

28fe6,
If you crave action it's very doubtful that Boglehead investing is going to supply it.
JW
by JW-Retired
Sun Sep 09, 2018 8:47 am
Forum: Investing - Help with Personal Investments
Topic: Is it worth doing a small Roth conversion now?
Replies: 16
Views: 1073

Re: Is it worth doing a small Roth conversion now?

Johnsson, Appears you were thinking that a Roth in your employer plan would start the clock for a personal Roth. Doesn't look like that works. Note in the Kitces article mentioned above......... In addition, each employer plan is subject to its own 5-year rule, in the event that someone has multiple...
by JW-Retired
Sat Sep 08, 2018 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest newbie needs help!
Replies: 6
Views: 555

Re: Tax Loss Harvest newbie needs help!

No expert myself but I agree this is not a wash sale. You have a short term capital loss since you hold them less than 1 year. Thanks, student. The $10,000 in TLH can apply to both short and long term capital gains, right? I just wanted to point out that if you have losses left after TLH against ca...
by JW-Retired
Fri Sep 07, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 130
Views: 7483

Re: Should I keep my financial advisor

How is this "flat retainer fee" determined? I think most of these FAs have a fee schedule based on assets under management (AUM), and the fee in % of AUM drops in steps as your assets increase. What's the fee schedule for your FA? Will you be paying the same $6k when you have $1M, or the same %, or...
by JW-Retired
Thu Sep 06, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 130
Views: 7483

Re: Should I keep my financial advisor

I currently have a fee only financial advisor that manages my investment and other aspects of personal finance. They charge flat retainer fee of 5k per year, soon to go up to 6k. My total investment is about 200k. I have some basic understanding of investment and fund selection. My question to all ...
by JW-Retired
Wed Sep 05, 2018 2:39 pm
Forum: Personal Consumer Issues
Topic: How to tell which vent is dryer vent?
Replies: 40
Views: 1661

Re: How to tell which vent is dryer vent?

Think it's time to get a new dryer. Seriously though, you're saying with the dryer on there's no perceptible movement on ANY of the vents? That seems to indicate no air is being pushed through the dryer duct, or worse - it's being pushed through, but not getting to the vent itself. And venting some...
by JW-Retired
Wed Sep 05, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Time to look at SS [When should I take Social Security?]
Replies: 55
Views: 4925

Re: Time to look at SS

We aim to pay no more taxes then we must. Counting state taxes, all our other income in retirement is taxed at a rate about half again higher than Social Security is. As soon as I understood how SS works and we realized that would happen, it was obvious to delay SS as long as possible. Thank you ssc...
by JW-Retired
Tue Sep 04, 2018 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: 403b vs Traditional IRA
Replies: 23
Views: 1137

Re: 403b vs Traditional IRA

Thank you so much! I was not familiar with 403b's or the plan's website but now I see that there are actually 2 good options, both with Vanguard funds to choose from: https://www.403bcompare.com/products/164#/investmentoptions ........................ I don't see the 60/40 fund you mentioned as an ...
by JW-Retired
Tue Sep 04, 2018 10:30 am
Forum: Personal Consumer Issues
Topic: Neighbor Fencing question
Replies: 50
Views: 3923

Re: Neighbor Fencing question

livesoft wrote:
Mon Sep 03, 2018 2:13 pm
I would have said right then and there, "Of course! I am happy to share in the cost of the shared fence that is replaced. Thanks for taking care of this!"
Same here! At various times we have split fence replacements with all 3 of the across the fence neighbors. Has worked well.
JW
by JW-Retired
Tue Sep 04, 2018 8:02 am
Forum: Investing - Help with Personal Investments
Topic: 403b vs Traditional IRA
Replies: 23
Views: 1137

Re: 403b vs Traditional IRA

You actually have some decent options within that 403b. The cost of $114 per $10K (1.14%) is derived from their total admin fees of .25% plus the average ER of the (mostly crappy) funds you can choose from. But if you choose, say, VFIAX at .04%, then your total fee/ER is .29%. Could be worse. Yes! ...
by JW-Retired
Mon Sep 03, 2018 7:22 pm
Forum: Investing - Help with Personal Investments
Topic: 403b vs Traditional IRA
Replies: 23
Views: 1137

Re: 403b vs Traditional IRA

Please correct any misconceptions: 1- There's no advantage in employer 403b if employer does not match (low cost Vanguard Traditional IRA would better?) 2- The only benefit is ease of payroll deduction/contribution? 3- That is the main service the 403b provides and you are paying high administrativ...
by JW-Retired
Sun Sep 02, 2018 7:29 pm
Forum: Investing - Help with Personal Investments
Topic: What to do after maxing out roth?
Replies: 11
Views: 1599

Re: What to do after maxing out roth?

What to do is pretty much depending on your current tax bracket. If it's higher than a reasonable person would guess they will be paying in retirement, then you should go tax-deferred not roth. What tax bracket are you in now? That's the most important thing about this and you haven't given us much ...
by JW-Retired
Sun Sep 02, 2018 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 29223

Re: Umbrella insurance..who has it? Is it recommended?

Under the state's law, if someone is only 10% at fault in a multiple car accident, but nobody else involved has any insurance or assets, the 10% guy can be liable for all damages. The court decided that the client met the 10% category because he could have "dodged" the collision instead of just mas...
by JW-Retired
Sun Sep 02, 2018 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 29223

Re: Umbrella insurance..who has it? Is it recommended?

> the lawyers who post on here have not had anything to say on the topic Each of them has said that all cases settle for policy limits, even very low limits. 1M umbrella is enough. There is somebody who still posts often here who lost some sort of business lawsuit and they drained his 6-figure IRA ...
by JW-Retired
Sat Sep 01, 2018 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: When did SSA notify you about your initial SS payment?
Replies: 10
Views: 935

Re: When did SSA notify you about your initial SS payment?

OP here. Getting an appointment at the local office is out of the question. If you can actually reach someone to make an appointment, they are booked 3 months out and don't make appointments further out than that. Which may be why they don't answer the phone. Are you talking about an in person appo...
by JW-Retired
Sat Sep 01, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: When did SSA notify you about your initial SS payment?
Replies: 10
Views: 935

Re: When did SSA notify you about your initial SS payment?

OP here. Getting an appointment at the local office is out of the question. If you can actually reach someone to make an appointment, they are booked 3 months out and don't make appointments further out than that. Which may be why they don't answer the phone. Are you talking about an in person appo...
by JW-Retired
Thu Aug 30, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: high RMD withdraw from 401k question
Replies: 31
Views: 3333

Re: high RMD withdraw from 401k question

Can you tell us what state you live in raazin? That's highly relevant to how favorable SS benefits are compared to pensions and other income. JW We live in NJ, not very tax friendly unfortunately Maybe not friendly to other income but googling says NJ is tax friendly to SS benefits. No state income...
by JW-Retired
Thu Aug 30, 2018 10:44 am
Forum: Investing - Theory, News & General
Topic: Expense ratios and fees - Fidelity and flip flopping advice
Replies: 61
Views: 4250

Re: Expense ratios and fees - Fidelity and flip flopping advice

You certainly have missed something. It's not speculation that Fidelity funds have more tax drag. It's a fact. I own FSTVX, Fidelity's total market index fund. It has thrown off capital gains distributions each of the last 3 years. I expect them to continue. I pay real money in taxes because of tho...
by JW-Retired
Wed Aug 29, 2018 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: high RMD withdraw from 401k question
Replies: 31
Views: 3333

Re: high RMD withdraw from 401k question

raaizin wrote:
Wed Aug 29, 2018 3:17 pm
Both of our pensions have 100% survivor benefits so the only loss of income will be the loss of ss benefits of the deceased spouse.
Can you tell us what state you live in raazin? That's highly relevant to how favorable SS benefits are compared to pensions and other income.
JW
by JW-Retired
Wed Aug 29, 2018 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Roll my rollover IRA into company 401K now?
Replies: 12
Views: 938

Re: Roll my rollover IRA into company 401K now?

Jimmy Mac 33 wrote:
Tue Aug 28, 2018 8:22 pm
PFInterest wrote:
Tue Aug 28, 2018 8:19 pm
unequivocally yes.
Thanks! That's what I thought. :sharebeer

Does anybody have a dissenting opinion? Anything I am missing? Thanks!
Probably OK, unless you have an old SEP or Simple IRA lurking around somewhere too? You didn't say you didn't and they count as IRAs for this.
JW
by JW-Retired
Wed Aug 29, 2018 8:37 am
Forum: Personal Finance (Not Investing)
Topic: How do you 7 figure guys organize multiple accounts?
Replies: 164
Views: 11840

Re: How do you 7 figure guys organize multiple accounts?

Asset allocation doesn’t shift much with a 60/40 allocation, so there really isn’t much to do at all. 60/40 and not much to do is certainly true for me as well! We have accounts at Fido, Vanguard, and my 401k. I quit using Quicken or any aggregator many years back for security. Now I just look at t...
by JW-Retired
Tue Aug 28, 2018 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Need Help: How do I sell my current holdings and use the losses as a tax benefit?
Replies: 11
Views: 674

Re: Need Help: How do I sell my current holdings and use the losses as a tax benefit?

I am currently managed by a Fiduciary and my holdings are managed through Schwab. I want to end this relationship and move to a three-fund portfolio managed by me. ............. History: I found a fiduciary in 2009 that has managed my investments. They pick individual stocks and try and forecast fu...
by JW-Retired
Sun Aug 26, 2018 11:16 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Question
Replies: 9
Views: 566

Re: Backdoor Roth IRA Question

I am now also worried. I was under the impression that in order to do the Roth IRA you had to transfer all the money otherwise you can have tax penalties. Also you cannot not do another backdoor roth IRA if you have money in a Traditional IRA ( am I correct?). You are not correct. If you leave a li...
by JW-Retired
Sat Aug 25, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Question for Social Security experts
Replies: 13
Views: 1711

Re: Question for Social Security experts

ObliviousInvestor wrote:
Sat Aug 25, 2018 12:27 pm
(In other words, we're saying the same thing here.)
Thank you.
JW
by JW-Retired
Sat Aug 25, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Question for Social Security experts
Replies: 13
Views: 1711

Re: Question for Social Security experts

Please correct me if I'm confused Oblivious Investor, Restricted application and suspending are different things. You definitely can still file and later suspend if you are at least at FRA. If you are still younger than 70 for example, if you go back to work you should definitely do that so your SS ...