Search found 6567 matches

by JW-Retired
Mon Jan 22, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Is Tax CPA really needed for Vanilla Investments ?
Replies: 14
Views: 790

Re: Is Tax CPA really needed for Vanilla Investments ?

DW & I used a CPA for taxes exactly one time very long ago. He screwed it up (I believe purposely), and then charged us another $500 to fix it. That was a lot of money back then. This was strong encouragement for me do my own taxes ever since. I rate this as one the key financial choices that we hav...
by JW-Retired
Sun Jan 21, 2018 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions on 65 year old's portfolio
Replies: 11
Views: 1389

Re: Opinions on 65 year old's portfolio

Tax rate: 33% Federal / 4.95% State State: Illinois Age: 65.9 Pension: (fixed / frozen, no COLA) $4187 / mo. I am eligible for 100% of it now. SS at 66: projected to be $2647 / mo but may wait until 68 or 70. I have no heirs and not looking to leave a big estate. Question? Are you going to stay in ...
by JW-Retired
Sat Jan 20, 2018 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Is there anything else I can do?
Replies: 9
Views: 955

Re: Is there anything else I can do?

Hello. I am wondering if I am missing anything with my retirement strategy. Here is my current status. I am 57 with an annual salary of 190k Company 410k. At the moment I have 770k. I contribute to the max including catchup. One thing I thought might be possible would be to make a ira for my wife w...
by JW-Retired
Fri Jan 19, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Backdoor Roth
Replies: 2
Views: 204

Re: Roth or Backdoor Roth

Invstar,
So you will see how it works in terms of what is going to be taxed, before you do anything be sure to practice filling out the 8606 form that's going to be needed for any Backdoor Roth contribution. Your post clearly shows you don't understand it yet. This is exceedingly common!
JW
by JW-Retired
Fri Jan 19, 2018 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Case For/Against Financial Advisor + Portfolio
Replies: 8
Views: 518

Re: Case For/Against Financial Advisor + Portfolio

Ignoramous5000, Most Boogleheads think buying funds with any loads at all, or expense ratios of more than about 0.2%, is terrible investing foolishness. Your FA funds fail both these tests. Since anybody can check the fund performance on the internet in a jiffy, you can usually be sure an "Advisor" ...
by JW-Retired
Tue Jan 16, 2018 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Retiring at 46 - Need Help with Allocation
Replies: 10
Views: 1444

Re: Retiring at 46 - Need Help with Allocation

KDF, Using Vanguard's Monte Carlo nest egg calculator, a withdrawal rate of 4.8% with an 80% stocks portfolio gives you a 26% chance of running out of money in 40 years or less. Your odds of this working are a good bit better than even! :beer https://retirementplans.vanguard.com/VGApp/pe/pubeducatio...
by JW-Retired
Mon Jan 15, 2018 8:56 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Critique for my Father
Replies: 16
Views: 2011

Re: Retirement Critique for my Father

Tax Filing Status: Married Filing Jointly Tax Rate: 11% Federal, 3.5% State State of Residence: Delaware Age: 62, wife's age: 62 Desired Asset allocation: 50% stocks / 50% bonds Desired International allocation: 5% of stocks Portfolio Size: $600,000 Pension: $114,400 Taxable Income (2017): $84,600 ...
by JW-Retired
Mon Jan 15, 2018 8:37 pm
Forum: Personal Consumer Issues
Topic: Are land line phones still being supported?
Replies: 60
Views: 3659

Re: Are land line phones still being supported?

Is the phone dead or the line dead? Our line is still supported by a local telecommunications company (not AT&T), but we support our phone ourselves. I think it's the line. There is one very old hand set in the bedroom that is as dead as the newer ones. No dial tone. It is very nice not to have a c...
by JW-Retired
Mon Jan 15, 2018 2:09 pm
Forum: Investing - Help with Personal Investments
Topic: Investment Advice for $50K in Taxable Account
Replies: 9
Views: 1114

Re: Investment Advice for $50K in Taxable Account

Her Income: 129K His Income: 190K ages 32 & 35 You are way over the income to make direct Roth IRA contributions, but it looks like you might be perfect for the "Backdoor Roth" maneuver. I would get going on that Roth savings of 2x$5500/year right away. See https://www.bogleheads.org/wiki/Backdoor_...
by JW-Retired
Sun Jan 14, 2018 8:41 pm
Forum: Personal Consumer Issues
Topic: Are land line phones still being supported?
Replies: 60
Views: 3659

Are land line phones still being supported?

DW has been hanging on to our dear old land line phone, as it kept right on going when the power went off for a couple of days in 1980's from the Loma Preita earthquake. Now, our land line phone went stone dead several days ago and AT&T says they will see us in two weeks to fix it. Will they show? A...
by JW-Retired
Sat Jan 13, 2018 7:33 pm
Forum: Investing - Help with Personal Investments
Topic: Convert i401k to tIRA, then backdoor Roth??
Replies: 3
Views: 276

Re: Convert i401k to tIRA, then backdoor Roth??

You are spending 37% + state on this conversion. Don't you have any tax deferred accounts like a 401k you could roll this i401k to?
JW
by JW-Retired
Sat Jan 13, 2018 11:08 am
Forum: Investing - Help with Personal Investments
Topic: Company 401K Fund Change
Replies: 9
Views: 541

Re: Company 401K Fund Change

So my 401K is currently 100% invested in VANG INST TR 2050 (VTRLX). (ER=0.09%) ............................ After I decide on the portfolio, how am I supposed to know when to rebalance it? I would stick with your first pick for a while. It covers the market at low cost and re-balances on it's own. ...
by JW-Retired
Thu Jan 11, 2018 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: 401K high fees, no match - don't use it? Backdoor Roth instead...
Replies: 24
Views: 1066

Re: 401K high fees, no match - don't use it? Backdoor Roth instead...

Correct. An additional 1% fee is charged for "account management." I realize this may be an "industry standard" for 401k's but to me it seems like a potential waste of money. Hence my question on whether using backdoor roth contributions to my existing low cost vanguard Roth would be a better optio...
by JW-Retired
Thu Jan 11, 2018 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: 401K high fees, no match - don't use it? Backdoor Roth instead...
Replies: 24
Views: 1066

Re: 401K high fees, no match - don't use it? Backdoor Roth instead...

The 401k options are largely expensive John Hancock actively managed or target date funds, but there are 2 good options (and I hold both of these in my employer profit sharing plan): Vanguard Total World Stock ETF - 0.17% ER Fidelity Advisor® Total Bond Fund - 0.25% ER What high fees are you talkin...
by JW-Retired
Wed Jan 10, 2018 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Letter from Social Security re Fraudulent Claim
Replies: 43
Views: 3265

Re: Letter from Social Security re Fraudulent Claim

Teague wrote:
Wed Jan 10, 2018 5:24 pm
If it's fake, I can't imagine what a scammer is hoping to accomplish.
IMO, it's a clever screening process. The scammer can probably accomplish practically anything they want on anyone foolish enough to fall for this and show up.
JW
by JW-Retired
Tue Jan 09, 2018 10:24 pm
Forum: Investing - Help with Personal Investments
Topic: Please help my backdoor Roth IRA process better next year
Replies: 15
Views: 915

Re: Please help my backdoor Roth IRA process better next year

There is a $5500 contribution limit. There is no limit to the amount converted. Always convert "all'.
JW
by JW-Retired
Mon Jan 08, 2018 9:11 am
Forum: Investing - Help with Personal Investments
Topic: Any mistakes with this portfolio?
Replies: 13
Views: 895

Re: Any mistakes with this portfolio?

Vanguard 500 Index Admiral VFIAX: 13% (.04%) Vanguard Institutional Index I VINIX: 17% (.04%) Vanguard Extended Market Index Instl VIEIX: 24% (.14%) DFA US Micro Cap I DFSCX: 13% (.52%) I wonder if you know you have such a monster tilt toward small cap stocks? The total US market value is roughly 8...
by JW-Retired
Thu Jan 04, 2018 7:04 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion: High Tax Bracket But Relatively Young
Replies: 7
Views: 899

Re: Roth Conversion: High Tax Bracket But Relatively Young

Your "basis" isn't the total of all contributions, it's defined as the post-tax contributions amount. Have 8606 forms been filed covering at least the $29k basis you are sure about? I would do that first and probably give up on the $3k. I think you could do it with 1 form. Then you could convert it ...
by JW-Retired
Wed Jan 03, 2018 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Early Retirement Planning Advice
Replies: 43
Views: 4111

Re: Early Retirement Planning Advice

Is there something I can do remove my post? I have no problem removing it. You can edit it by clicking on the little pencil icon in the upper right. If there is no following post you can delete it. I don't know what "flagged" meant. But I don't see the post you are talking about..... maybe it's bee...
by JW-Retired
Wed Jan 03, 2018 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: RMD First-Timer needs help
Replies: 33
Views: 2329

Re: RMD First-Timer needs help

teacher wrote:
Wed Jan 03, 2018 11:55 am
How did I do?
You have it! :beer
by JW-Retired
Wed Jan 03, 2018 8:10 am
Forum: Investing - Help with Personal Investments
Topic: RMD First-Timer needs help
Replies: 33
Views: 2329

Re: RMD First-Timer needs help

DH turns 70.5 at the end of February this year. His birthday is in August. Our tax preparer thinks we would pay twice if he doesn't pay RMDs this February. Does that make sense? Of course it doesn't make sense. Maybe you just misunderstood? If not, and this tax preparer is really so confused about ...
by JW-Retired
Wed Jan 03, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Taxes [Do it yourself or use tax software?]
Replies: 39
Views: 2731

Re: Taxes

Do you do your own taxes or use tax software? I've used tax software products since they became available. Currently I like HR Block Deluxe. Prior to that back to 1970 I did them by hand except for 1 year, which was complicated by an estate tax return. The sleazeball CPA filed one way the first tim...
by JW-Retired
Tue Jan 02, 2018 8:44 pm
Forum: Personal Consumer Issues
Topic: Annoying/Loud Sidewall Power Venter
Replies: 6
Views: 444

Re: Annoying/Loud Sidewall Power Venter

Does it have a lot of dust and lint caked onto the vanes? If so, scrape/vacuum the stuff off. I need to do that to the ceiling exhaust fan in my bath room every few years.
JW
by JW-Retired
Mon Jan 01, 2018 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: Help my 7 year old daughter invest $50 of her Christmas money
Replies: 30
Views: 2329

Re: Help my 7 year old daughter invest $50 of her Christmas money

She has a strong preference towards buying "something for girls", but she seems to agree with her dad that good investments are investments that are primarily picked based on the likelihood of bringing good returns and that's what wise girls would buy. ............................ What ETFs, bonds,...
by JW-Retired
Mon Jan 01, 2018 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Restricted Application
Replies: 28
Views: 4047

Re: Social Security Restricted Application

I’m looking for Bogleheads who would like to share their experience when filing an online Restricted Application for Social Security (SS) since the new SS rules signed into law on Nov 2, 2015. I am contemplating filing an online Restricted Application at Full Retirement Age (RTA) (in a couple month...
by JW-Retired
Mon Jan 01, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Ira to Roth-44000-4.5% tax
Replies: 9
Views: 1053

Re: Ira to Roth-44000-4.5% tax

I'm 65 this year. I was looking at putting 25000-Which would be 0 tax then 19000-10% tax from my Ira to Roth. That's about 4.5% tax. The rest of my income will be taxed at 12% to just a little at 22%. It just seems like a no brainer. I will live off of 100000 this year this includes my move to Roth...
by JW-Retired
Sun Dec 31, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: New Tax Law Impact on Roth 401K
Replies: 21
Views: 2322

Re: New Tax Law Impact on Roth 401K

My wife and I are both 52 years old and will likely continue to contribute $24,500 annually the next 6 years before retiring early at age 58 or so. We have no Roth money in our overall retirement portfolio but about $1.1M in traditional tax deferred accounts so we are a bit worried that RMDs at age...
by JW-Retired
Sat Dec 30, 2017 11:44 pm
Forum: Investing - Help with Personal Investments
Topic: New Tax Law Impact on Roth 401K
Replies: 21
Views: 2322

Re: New Tax Law Impact on Roth 401K

My wife and I are both 52 years old and will likely continue to contribute $24,500 annually the next 6 years before retiring early at age 58 or so. We have no Roth money in our overall retirement portfolio but about $1.1M in traditional tax deferred accounts so we are a bit worried that RMDs at age...
by JW-Retired
Sat Dec 30, 2017 9:36 pm
Forum: Personal Consumer Issues
Topic: Looking to vacation in San Diego
Replies: 16
Views: 1134

Re: Looking to vacation in San Diego

I am a New England native, looking to take a trip the end of April for a week, away from frigid New Hampshire! It would be myself and my two kids, ages 11 and 14, their school vacation. Might be a little bit chilly in April but snorkeling in La Jolla cove is something not to be missed by rookie sno...
by JW-Retired
Sat Dec 30, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: RMD timing from inherited IRA
Replies: 17
Views: 1600

Re: RMD timing from inherited IRA

I've been reading the threads on "when to take your RMD" but haven't seen this particular issue addressed yet. I have two modest inherited IRAs, one Roth and the other TIRA. Both are currently 100% Total Bond Market My question relates to the RMD for the inherited TIRA. I want to make it as small a...
by JW-Retired
Sat Dec 30, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Deluxe Sample File Question
Replies: 2
Views: 193

Re: H&R Block Deluxe Sample File Question

Yes, you can keep making changes to your data until you actually submit it to IRS. You can also make and save multiple practice returns with different names (up to some limit that I've forgotten). I've done both these.
JW
by JW-Retired
Fri Dec 29, 2017 5:48 pm
Forum: Investing - Theory, News & General
Topic: Concern that somebody else can open a new fund for me without permission?
Replies: 23
Views: 2004

Re: Vanguard security: Somebody else can open an account for me without my knowledge

The question is: What gyrations did your relative have to perform to move money or fund directly from their account to yours. A check certainly works, but my understanding is that money/funds cannot be moved between accounts that do not share the same ssn, tin/ein. I just tried to move $1 from my a...
by JW-Retired
Wed Dec 27, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: ACA Cliff: Stupid questions on admin stuff for tIRA
Replies: 9
Views: 560

Re: ACA Cliff: Stupid questions on admin stuff for tIRA

My spouse and I, both in our 50's, are facing an ACA cliff for 2017. I've read some of the ACA threads on this board and learned a lot ... but I have a couple of very unsophisticated questions if you could help me out. 1. I plan to add contributions into my and my spouse's tIRAs sufficient to bring...
by JW-Retired
Sun Dec 24, 2017 5:26 pm
Forum: Personal Consumer Issues
Topic: European Cities that don't interest you
Replies: 187
Views: 11802

Re: European Cities that don't interest you

Bergen. Part of a work trip that we tried to combine with a family vacation on one end. In Bergen, I was mostly busy on weekdays but most everything closed at 5 pm. Very little seemed to be open on weekends too.

It was in the 1980's so possibly it's different now.
JW
by JW-Retired
Fri Dec 22, 2017 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Motive for 401(k) advisor to change funds? Something fishy?
Replies: 44
Views: 2574

Re: Motive for 401(k) advisor to change funds? Something fishy?

As far as I can tell, we still are offered the S&P 500 index at 3bps. On another note, at the urging of my boss/owner, I emailed our advisor this afternoon. I expressed my deep concern regarding the seismic shift in their offerings. Also, I expressed concerns over the vast overhaul. I said I could ...
by JW-Retired
Thu Dec 21, 2017 8:39 pm
Forum: Investing - Help with Personal Investments
Topic: Moving my Spouse IRA to Roth
Replies: 9
Views: 592

Re: Moving my Spouse IRA to Roth

I realize that I will take a hit on the taxes (prob a few thousand) , but I willing to live with that so that I can do this every year. You keep referring to wife IRA as if it's yours? Any chance you are really talking about your own IRA? Thought not because your SEP IRA ruins any possibility to do...
by JW-Retired
Tue Dec 19, 2017 3:23 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA with Vanguard--how to invest?
Replies: 5
Views: 641

Re: Roth IRA with Vanguard--how to invest?

IMO, your VFINX fund would be fine. But you didn't over contribute did you? The limit for an under 50 person is $5500/year for the combination of your tIRA + Roth contributions. Age 50 & over it's $6500 so you would be OK.
JW
by JW-Retired
Tue Dec 19, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: How much to covert to Roth?
Replies: 27
Views: 2398

Re: How much to covert to Roth?

The top of the 15% tax bracket is about $38k of taxable income for a single person. That's gross income less a std deduction & exemption of $10,400. So if your grad student stipend truly doesn't count as income, then you could convert your whole $49k and only pay more than a 15% tax on a few hundred...
by JW-Retired
Mon Dec 18, 2017 11:09 am
Forum: Investing - Theory, News & General
Topic: Why is Vanguard switching all accounts to brokerage accounts?
Replies: 65
Views: 8975

Re: Why is Vanguard switching all accounts to brokerage accounts?

I guess the process must be easier if you just hold an account as an individual? My spouse and I have a revocable living trust that we set up for estate planning purposes; everything is in the name of the trust. I think that's why there would be a bunch of paperwork for me if I were to go through w...
by JW-Retired
Sun Dec 17, 2017 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Problem with H&R Block Tax Software Download
Replies: 10
Views: 688

Re: Problem with H&R Block Tax Software Download

OP, This is why I do not buy the download version. The disc version is the same price most of the time. KlangFool ?? I have not bought a disc version in years, but back when I still was the first thing it always did was update itself via a download. So what's the point to it? Anyway, the last few y...
by JW-Retired
Sun Dec 17, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal SS benefits
Replies: 32
Views: 2172

Re: Spousal SS benefits

Thanks, JW for this info. So the second year of suspended benefits you get the 2% COLA for 2018 and then the 8% DRC up top of that. But the 8% I think is based on your age 66 PIA, not PIA + COLA? Correct me if I am wrong. Thanks... Disregard my previous answer.............. I misunderstood what you...
by JW-Retired
Sun Dec 17, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal SS benefits
Replies: 32
Views: 2172

Re: Spousal SS benefits

Does the PIA increase with the annual COLA if one is suspending benefits to get delayed retirement credits? Also,when I unsuspend to start my benefits in two years when my wife is 66, I know she will get 1/2 of my PIA, but with COLA's? Thanks Your PIA is a moving reference benefit amount that by de...
by JW-Retired
Sun Dec 17, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Spousal SS benefits
Replies: 32
Views: 2172

Re: Spousal SS benefits

I take this to mean that the spousal benefit cannot increase past what it would have been at the worker's full retirement age even if the worker delays taking SS past that point. Is this correct? Yes and no. Half the worker's PIA is as big as it can get.... but, that means it can increase with infl...
by JW-Retired
Sun Dec 17, 2017 8:41 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 131
Views: 11424

Re: H&R Block Software

FWIW, I just noticed that HRB has changed their on-line tax calculator look for next year. First run through I feared they may have copied Turbo-tax and made it clunkier to make input changes and see the results quickly...... but it's not. If you click on "What You Told Us" it shows you all your ent...
by JW-Retired
Sun Dec 17, 2017 8:09 am
Forum: Investing - Help with Personal Investments
Topic: 28 Years Old: In the current market, what % into bonds?
Replies: 56
Views: 3636

Re: 28 Years Old: In the current market, what % into bonds?

To get a feel for the relative risk vs. returns, here is a table from Vanguard of historical returns in the past 91 years. Keep in mind that the table only tracks gains/losses for 91 calendar years. Gains and losses within 1 year periods can be larger than this table shows, because they might occur...
by JW-Retired
Sat Dec 16, 2017 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Stop Contributing to 401(k)??
Replies: 39
Views: 4324

Re: Stop Contributing to 401(k)??

UncleBen wrote:
Sat Dec 16, 2017 8:37 pm
What are your marginal state and federal tax rates now?
What do you think they will be in retirement?
You might split that into early retirement before you are taking social security, and late retirement when you are drawing everything.
JW
by JW-Retired
Sat Dec 16, 2017 7:10 pm
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth
Replies: 6
Views: 819

Re: Back Door Roth

If my husband does not have a roth can we open a Vanguard account and deposit “new” money to a brokerage account and then convert to a roth? You might be confused about how this works or maybe you just misspoke about "not have a roth". It's a traditional IRA of any sort with tax deferred money in i...
by JW-Retired
Sat Dec 16, 2017 4:24 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes on 401(k)withdrawl
Replies: 12
Views: 1145

Re: Taxes on 401(k)withdrawl

Rick C., If you are asking what the tax will be: Assuming the $7000/month was your total income, and you were 60 years old so you could withdraw it without penalty, and no medicare taking a cut, federal tax only......... my favorite tax calculator says for filing single & std deduction you would net...
by JW-Retired
Fri Dec 15, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: baffle about Roth IRA contribution using turbo tax
Replies: 19
Views: 925

Re: baffle about Roth IRA contribution using turbo tax

The $6500 to pay for my Roth IRA is money I have taken from my 457B pension distribution. Maybe nuts and bolts on the 1040 would help? Roth or tIRA, the total income line on your 1040 (line 22) will be the same. What matters is for the Roth you don't get to take a $6500 tax deduction on line 32 of ...
by JW-Retired
Fri Dec 15, 2017 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: baffle about Roth IRA contribution using turbo tax
Replies: 19
Views: 925

Re: baffle about Roth IRA contribution using turbo tax

I thought it would be $96500 as I read that with Roth IRA you need to pay taxes first. Probably two possibilities, (1) you did already pay taxes on the 6500 when you earned it last year, or (2) it's part of the 90,000 you earned this year so you have already had it withheld this year. Nobody has gi...