Search found 7163 matches

by JW-Retired
Tue Jul 07, 2020 10:36 am
Forum: Investing - Theory, News & General
Topic: Does it really matter when you claim Social Security
Replies: 109
Views: 9345

Re: Does it really matter when you claim Social Security

Yes, IMO it matters. In many cases the most enormous benefit of maximizing your Social Security, in lieu of your tax deferred savings, is lower State Tax. A moderately well off Boglehead in a high tax state like California, is likely to have their deferred savings RMD state taxed at 9.3% or more. On...
by JW-Retired
Sun Jun 21, 2020 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Odd CA Tax Refund
Replies: 5
Views: 511

Re: Odd CA Tax Refund

The first place to look would be the amount of payments. Carefully check the payment amounts on lines 71 -74 of your CA tax return (assuming resident return) vs. your tax records, including any overpayment applied from the prior year. ............. Thank you MarkNYC you got it! I had done a underpa...
by JW-Retired
Sat Jun 20, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Odd CA Tax Refund
Replies: 5
Views: 511

Odd CA Tax Refund

I submitted our CA tax return by mail in early March, along with a check covering the 4 figures my HRB software said we owed. HRB didn't indicate we owed any penalty. Now 3 months later we got a $85 CA tax refund in the mail. The check just said "Tax Refund", no explanation what drove it? Re-running...
by JW-Retired
Sat Jun 06, 2020 10:00 am
Forum: Investing - Theory, News & General
Topic: Anyone screwed up timing the market?
Replies: 94
Views: 8833

Re: Anyone screwed up timing the market?

I got out in march, saw the market drop further and then rise, rise, rise and now, if the market doesn´t come down again, I have missed the boat :oops: Anyone else who learned not to time the market? I learned it about 25 years ago. Somebody at work agreed with me that the market just couldn't keep...
by JW-Retired
Mon May 25, 2020 11:25 am
Forum: Personal Investments
Topic: Thinking of selling some SP 500 to buy more Wells Fargo
Replies: 75
Views: 5579

Re: Thinking of selling some SP 500 to buy more Wells Fargo

This reminds me of when wife and I still had a few individual stocks. We bought some Washington Mutual stock ("WaMu", ticker WM) in 2006. I've forgotten whatever reasons I had for picking it, except I do recall one of my kids banked there and really liked it. In September 2008 WaMu failed. (I had so...
by JW-Retired
Mon May 11, 2020 11:34 am
Forum: Personal Consumer Issues
Topic: Coffee-grounds/beans/leftover - uses in garden besides compost
Replies: 10
Views: 1464

Re: Coffee-grounds/beans/leftover - uses in garden besides compost

We dump our coffee-grounds directly into a 2-quart soft plastic container with a lid at the end of the kitchen counter. When that is fairly full, I take it to various garden areas and strew the still wet grounds here and there with a big spoon. It only takes me something like 5 minutes to get rid of...
by JW-Retired
Thu May 07, 2020 10:22 am
Forum: Personal Finance (Not Investing)
Topic: No tax return after >10 weeks?
Replies: 66
Views: 5102

Re: No tax return after >10 weeks?

After all these years I'm still DIY filing H&R Block software paper returns by registered mail. Our IRS return went out on March 11 and the state return on March 12. The registered mail postal cards came back on March 12 and 13. We owed money and the checks cleared on March 13 & 16. The HRB software...
by JW-Retired
Sat Apr 25, 2020 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Take Social Security now, at 66, during Corona-virus?
Replies: 61
Views: 5074

Re: Take Social Security now, at 66, during Corona-virus?

I don't see that SS taxation, especially state taxation, has been mentioned. Most states don't tax SS and none of the high tax states do. That makes delay of SS as much as you can a really easy call. Especially if you are in a hefty bracket in a high tax state like my dear old California. It added u...
by JW-Retired
Wed Apr 22, 2020 8:04 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting
Replies: 6
Views: 469

Re: Tax loss harvesting

Tax loss harvesting (TLH) is defined as selling of securities at a loss to offset capital gains tax liability in similar security. My question is very practical: what types capital gains are more often offset by TLH: As tibbits said, best to avoid any capital gains so that more of any TLH can be of...
by JW-Retired
Sun Apr 19, 2020 1:56 pm
Forum: Personal Investments
Topic: I'm out [of the market]
Replies: 109
Views: 12106

Re: I'm out [of the market]

Easily live on social security and pension, our portfolio is worth approx $1,35500.00. I'm 76 healthy and wife 70 and the same. I guess I'm just curious as to what others think of this action. I think it depends. One would guess your wife is apt to outlive you by something like 8 years. What % of t...
by JW-Retired
Mon Mar 30, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9999

Re: IRS Suspends RMD

Alan, In my case it's still in a 401k, but I'm way into my RMD years and need the money. It's been set up on an autopilot so the 401k administrator sends me the RMD amount in a couple of pieces on fixed dates of the year. If I do nothing will they still send me the RMD amounts.... or will I need to...
by JW-Retired
Sun Mar 29, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9999

Re: IRS Suspends RMD

Alan, In my case it's still in a 401k, but I'm way into my RMD years and need the money. It's been set up on an autopilot so the 401k administrator sends me the RMD amount in a couple of pieces on fixed dates of the year. If I do nothing will they still send me the RMD amounts.... or will I need to...
by JW-Retired
Sun Mar 29, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: RMDs May Not Be Required for 2020
Replies: 142
Views: 9999

Re: IRS Suspends RMD

IRS suspended the RMD from 401's and IRA's for 2020. Might be a good idea to do a Roth conversion for the amount of the RMD. Yes, treat this like you are back in your pre RMD years. Alan, In my case it's still in a 401k, but I'm way into my RMD years and need the money. It's been set up on an autop...
by JW-Retired
Sat Mar 28, 2020 11:05 am
Forum: Investing - Theory, News & General
Topic: How often do you re-balance during these times?
Replies: 42
Views: 3642

Re: How often do you re-balance during these times?

I am talking about times like these, not during "normal" market behavior... Never re-balance in these times. Since a little before the turn of the century, I only re-balance when my equities get too high over my nominal 60%. Or with new money. Neither of those conditions are apt to happen soon. Tha...
by JW-Retired
Tue Feb 25, 2020 10:34 am
Forum: Personal Consumer Issues
Topic: Do you ever use cash?
Replies: 228
Views: 13869

Re: Do you ever use cash?

Sometimes. I'm certain I have never paid my barber with anything but cash. Also mostly use cash for fairly often take out fast food lunches.

But that's about it for my cash.
JW
by JW-Retired
Mon Feb 24, 2020 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Attn: Social Security Experts **question**
Replies: 33
Views: 3218

Re: Attn: Social Security Experts **question**

summerof42, I think you ought to view the yearly increase of your SS payments as much much bigger from working & delaying SS than the measly $15. At your age, from now to age 70, a simple delay of SS from your age will amount to a 7 to 8% yearly boost over your FRA amount. That's the increase to be ...
by JW-Retired
Mon Feb 24, 2020 8:07 am
Forum: Personal Investments
Topic: Yet another Roth conversion question
Replies: 6
Views: 656

Re: Yet another Roth conversion question

omposton,
I think you might be missing just how great converting the tIRA will be. Once you do that you will be free to do "backdoor" Roth contributions yearly.
In the 35% bracket you make way too much to do direct Roth contributions now.

see https://www.bogleheads.org/wiki/Backdoor_Roth
JW
by JW-Retired
Fri Feb 21, 2020 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Social Security reduction and breakeven
Replies: 67
Views: 5576

Re: Social Security reduction and breakeven

Make sure you understand the tax effects. Given the 9% state income tax rate I pay for everything exception SS, plus the 15% of my SS not Federally taxed, delaying my SS payments to 70 was a really easy choice.
JW
by JW-Retired
Wed Feb 19, 2020 9:52 am
Forum: Personal Investments
Topic: High income earner - backdoor roth and employer 401k
Replies: 6
Views: 509

Re: High income earner - backdoor roth and employer 401k

Your CPA could be unfamiliar with a backdoor Roth. It's also possible your CPA knows you have a existing IRA, or rollover IRA, or Simple IRA, or SEP IRA that you didn't know gets lumped together with your backdoor contribution, and would ruin your plan.

See the Nondeductible IRAs 8606 form.
JW
by JW-Retired
Wed Feb 19, 2020 9:24 am
Forum: Investing - Theory, News & General
Topic: Would you ever hold enough Fixed Income to cover you until a certain age?
Replies: 55
Views: 3254

Re: Would you ever hold enough Fixed Income to cover you until a certain age?

Simple question, would you ever hold enough fixed income net of SS, pensions and annuities to cover your expenses for the remainder of your presumed life (i.e. to cover you until a certain age)? Yes, in a way we have done that for a long time. We do not re-balance when there is a bear market so our...
by JW-Retired
Thu Feb 13, 2020 9:22 am
Forum: Personal Investments
Topic: I bought a house, what is my AA now?
Replies: 152
Views: 8064

Re: I bought a house, what is my AA now?

But it is a fact that your capital is allocated to your list of assets, in various amounts. You can decide not to think about certain assets but if the purpose is risk/return management and these are risky, return-producing assets, it would be counterproductive to do so. IMO, use of the real stock/...
by JW-Retired
Fri Feb 07, 2020 9:35 am
Forum: Investing - Theory, News & General
Topic: What is the highest expense ratio you willingly pay?
Replies: 123
Views: 8702

Re: What is the highest expense ratio you willingly pay?

I have mostly low expense Boglehead level funds...... except for Fidelity Contrafund Fund at about 0.8%. That's about 5 times more than any of my other funds. Regrettably, I bought it 30-something years ago so I'm tax trapped. :annoyed On top of this Contra likes to trade a good deal so they frequen...
by JW-Retired
Thu Jan 30, 2020 8:18 am
Forum: Personal Consumer Issues
Topic: Just answered telephone political poll. Now concerned.
Replies: 70
Views: 20193

Re: Just answered telephone political poll. Now concerned.

We have no phone call problems, simply do not pick up any calls with phone numbers and names we do not know, including political polls. Yep, we just let it ring if we don't know the caller, and block it if they are persistent. Mostly they don't leave a message. If they do start to leave one and are...
by JW-Retired
Sun Jan 26, 2020 10:42 am
Forum: Personal Investments
Topic: Should I bother with tax exempt bond
Replies: 22
Views: 2451

Re: Should I bother with tax exempt bond

Why is it the slightest bother?
JW
by JW-Retired
Sun Jan 26, 2020 9:58 am
Forum: Personal Finance (Not Investing)
Topic: What to do after we have our 6-12 month EF
Replies: 20
Views: 1481

Re: What to do after we have our 6-12 month EF

skives19 wrote: Sat Jan 25, 2020 6:08 am So my wife and I make $76,000 a year and contribute 15% to our 401k’s
Can you clarify? Do you each make $76k, so in total you would contribute 2x0.15x76 = 22.8k to your 401k's?
JW
by JW-Retired
Sat Jan 25, 2020 10:17 am
Forum: Investing - Theory, News & General
Topic: SS as a bond and Asset Allocation
Replies: 28
Views: 1326

Re: SS as a bond and Asset Allocation

If the asset allocation of the 2m is 50/50 stocks/bonds, based on the anticipated SS, should I really almost think of my portfolio as being 30/70 stocks/bonds and adjust or re-balance accordingly? I wouldn't. How you "think of it" is apt to be weird and beyond our understanding of it. At the very l...
by JW-Retired
Sun Jan 19, 2020 1:17 pm
Forum: Investing - Theory, News & General
Topic: How taxes on 401k are calculated
Replies: 6
Views: 726

Re: How taxes on 401k are calculated

100% of withdrawals from pretax accounts are taxed. That includes contributions, dividends, and gains. Yes. Maybe it's already clear, but if not: For pretax accounts like a 401k everything you take out is taxed like it was ordinary taxable income. Doesn't matter if you took it from bonds or equitie...
by JW-Retired
Sun Jan 19, 2020 10:41 am
Forum: Personal Investments
Topic: Roth 401k vs pre-tax 401k
Replies: 4
Views: 602

Re: Roth 401k vs pre-tax 401k

notplannedbuthappy, I'm uncertain what you mean by "Pension (cash value): 55K" and "(cash value not conventional): 150K"? Do you confirm that these are these just two very small pensions? Are you planning to delay his SS until age 70? That would be the obvious play since she will be likely drawing y...
by JW-Retired
Sat Jan 11, 2020 10:07 am
Forum: Personal Investments
Topic: Roth IRA Conversion tax free?
Replies: 16
Views: 1688

Re: Roth IRA Conversion tax free?

In retirement, no income besides Social Security, RMD and some taxable interest/dividends. My wife's IRA goes 100% to QCD. For 2020, I will have about $11000 additional I can withdraw from my IRA beyond my RMD before reaching our $27000 standard deduction. One needs to understand the way taxation o...
by JW-Retired
Tue Jan 07, 2020 10:40 am
Forum: Investing - Theory, News & General
Topic: Stock selling tax question
Replies: 3
Views: 224

Re: Stock selling tax question

Best that you don't realize any gains until a year that you have no losses left in the bank.

And don't invest in any mutual funds that like to stock pick and realize gains on their own. :oops:
JW
by JW-Retired
Tue Jan 07, 2020 9:54 am
Forum: Personal Investments
Topic: Please review my retirement plan, thank you!
Replies: 12
Views: 1457

Re: Please review my retirement plan, thank you!

I have 4k in robinhood that I like to play around with. I plan on slowly liquidating Long Term Gains and using ~4k in my Roth IRA to play in stocks tax free. (Please let me know if there are any errors in this thinking) Agree with tenkuky you don't need those items he marked in red. Agree with peet...
by JW-Retired
Sat Jan 04, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: When to Collect SS
Replies: 55
Views: 3188

Re: When to Collect SS

And nobody here will pay any attention to your post. They will continue to agonize over this. Most of the folks here can probably collect early, which will allow their invested money to continue growing. Everyone here can collect early. Most will rightly conclude that they are better off financiall...
by JW-Retired
Tue Dec 31, 2019 10:25 am
Forum: Investing - Theory, News & General
Topic: RMD how do you use them?
Replies: 42
Views: 3171

Re: RMD how do you use them?

Just wondering how most of you treat your RMD moneys? Reinvest, live on distribution amount, charity/kids or what is your plans or process now? An estimated tax portion of our RMD is sent directly to the tax collectors, and the rest gets thrown into our bank account. There it's mixed with our SS & ...
by JW-Retired
Sun Dec 22, 2019 12:43 pm
Forum: Investing - Theory, News & General
Topic: Tax Law Changes for 2020
Replies: 355
Views: 28309

Re: Tax Law Changes for 2020

deleted
by JW-Retired
Wed Dec 18, 2019 11:04 am
Forum: Personal Investments
Topic: Whats the most gross expense ratio you would consider when buying a mutual fund?
Replies: 52
Views: 3808

Re: Whats the most gross expense ratio you would consider when buying a mutual fund?

Detroit, you keep talking about past returns on these funds as "interest", as though there is some sort of guarantee that these funds will continue to return this rate. There are no guarantees. Yeah, a surprising number of people in this thread seem to believe that a fund's good past performance is...
by JW-Retired
Sat Dec 14, 2019 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Probably stupid simple gains tax question & deduction
Replies: 11
Views: 905

Re: Probably stupid simple gains tax question & deduction

Your capital losses are first applied against your capital gains (long against long and short against short, then long against short or short against long). If there are any left over, up to $3K is applied against income. If there are any left over, they are carried over to the next year. Did you a...
by JW-Retired
Thu Dec 12, 2019 1:08 pm
Forum: Personal Investments
Topic: Taking Social Security at 62 and Investing It
Replies: 54
Views: 4558

Re: Taking Social Security at 62 and Investing It

I'll pile on. Seems to me that if you expect to have much of a retirement tax bill, you should maximize the low taxed income stream. What state do you live in? A high tax state more or less doubles the tax advantage of SS income.
JW
by JW-Retired
Sun Dec 08, 2019 8:50 pm
Forum: Personal Investments
Topic: Roth question - my first post
Replies: 4
Views: 430

Re: Roth question - my first post

I have an IRA with $1,035,000 in 3 funds. FXNAX, 40%. FSKAX, 30%. FSGGX, 30%. All low cost broad index funds. index funds of what? You made us look it up: FXNAX = bonds, FSKAX = total US stock mkt, FSGGX = large global blends. 60/40 is my happy spot so I like it. I wouldn't put bonds in the Roth. JW
by JW-Retired
Sat Dec 07, 2019 1:34 pm
Forum: Personal Investments
Topic: Non spouse inherited IRA
Replies: 22
Views: 1137

Re: Non spouse inherited IRA

I am absolutely certain that my income tax rate will be higher when I retire My pension alone will be greater than my current taxable income and if I take social security that will be additional income There is also other inheritance that will provide substantial investment income when the estate i...
by JW-Retired
Fri Dec 06, 2019 8:55 pm
Forum: Personal Consumer Issues
Topic: Tree roots growing into sewer lines
Replies: 62
Views: 19316

Re: Tree roots growing into sewer lines

I just got bad news from the city....roots growing into my sewer line in my front yard. The consequence was water backing up into my toilet when my washing machine drained and standing water in the washing machine. The toilets flush ok....sink drains are slow. Also...is $190/hr a reasonable price f...
by JW-Retired
Fri Dec 06, 2019 7:31 pm
Forum: Personal Investments
Topic: EDJ Advisory
Replies: 19
Views: 1435

Re: EDJ Advisory

Who is EDJ? Are you talking about Edward Jones? That seems to be what everyone is assuming but I never heard them called that before.
JW
never mind..... appears Edward Jones is indeed Edward D. Jones
by JW-Retired
Thu Dec 05, 2019 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: HR Block tax program activation code is 1 digit short.
Replies: 6
Views: 593

Re: HR Block tax program activation code is 1 digit short.

No, my code on the card (from Amazon) is 8 digits ........ plus a dash in the middle.
by JW-Retired
Thu Dec 05, 2019 11:55 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting - wash sale question
Replies: 3
Views: 224

Re: Tax loss harvesting - wash sale question

Most tax loss harvesters here don't wait to buy the same security back. They buy a pretty similar but not identical one back right away so they avoid needing to wait a month.

I always just do an exchange like swap between SP 500 and total stock mkt.
JW
by JW-Retired
Mon Dec 02, 2019 4:48 pm
Forum: Personal Investments
Topic: Received a dividend from Fido in the few days before backdoor Roth.. now what?
Replies: 12
Views: 906

Re: Received a dividend from Fido in the few days before backdoor Roth.. now what?

I WILL: Convert my ENTIRE TIRA balance of $6001.37 to Roth IRA. I will then pay tax on $1. My Roth IRA will have $6001.37 on the day I convert. Do I have this right? You are close.......... but next time it would be easier if you tell Fido to convert the full balance, whatever it may be. I know tha...
by JW-Retired
Sat Nov 30, 2019 10:38 am
Forum: Investing - Theory, News & General
Topic: Can one have too much Roth?
Replies: 175
Views: 16047

Re: Can one have too much Roth?

For many people, their SS or pension will always fill up the lower bracket(s). On top of those brackets, those who saved in (or inherited) tax-deferred will be REQUIRED to withdraw later on as the government wants the taxes paid eventually. Maybe for "many people"..... but SS and pension are really...
by JW-Retired
Fri Nov 29, 2019 9:15 pm
Forum: Personal Investments
Topic: Vanguard vs. Fidelity
Replies: 62
Views: 5936

Re: Vanguard vs. Fidelity

I have accounts at both Vanguard and Fidelity and am thinking of consolidating into just one. Which of the two would you recommend? I've had similar sized accounts at both for close to 30 years and see no reason to change that. They are both good. Vanguard is only better in terms of costs if you ar...
by JW-Retired
Wed Nov 27, 2019 8:13 pm
Forum: Personal Investments
Topic: Converting portion of traditional Ira
Replies: 14
Views: 1039

Re: Converting portion of traditional Ira

Presently all my expenses are covered by my pension and ss. My pension is about 2300 a month and ss 2000 a month. That was a concern of mine if the income from a distribution would affect my ss because it would be considered income. I didn't run any numbers but my bet is you would have been signifi...
by JW-Retired
Wed Nov 27, 2019 10:20 am
Forum: Personal Investments
Topic: Converting portion of traditional Ira
Replies: 14
Views: 1039

Re: Converting portion of traditional Ira

How much is the pension and how much is your SS? The trouble with converting TIRA money now is that may cause more of the SS to be taxed at a higher rate. Sort of a double tax hit.

It depends on the numbers but usually best to do IRA conversions before you start taking any SS.
JW
by JW-Retired
Sat Nov 23, 2019 12:26 pm
Forum: Personal Investments
Topic: Do you keep deposting money into IRA while "market crashes"?
Replies: 44
Views: 4552

Re: Do you keep deposting money into IRA while "market crashes"?

If (hopefully it won't happen) the market crashes would I continue to still feed money into my Roth IRA? Wasn't eligible for a Roth but I sure still fed money into my 401k. I kept up feeding the max contribution amount possible into the 401k and switched all these new contributions to 100% equities...
by JW-Retired
Thu Nov 21, 2019 7:51 pm
Forum: Personal Investments
Topic: Portfolio diversification
Replies: 4
Views: 469

Re: Portfolio diversification

am4ever wrote: Thu Nov 21, 2019 3:01 pm ..... I'm sixty. My pension will cover my expenses. I'm currently in growth funds. Should I diversify
I always thought growth funds were near 100% equities. If that is what yours are then yes, you should diversify.
JW