Search found 6453 matches

by JW-Retired
Mon Nov 20, 2017 9:22 am
Forum: Personal Consumer Issues
Topic: Uber for someone who knows only taxis
Replies: 47
Views: 1998

Re: Uber for someone who knows only taxis

livesoft wrote:
Mon Nov 20, 2017 8:42 am
Just make sure you get into the right car: The one that you have agreed to use. Check car make/color, driver name, etc.
Yes, and if you are like me and all cars look alike to you, have a note with the licence plate number at the ready. Especially at the airport.
JW
by JW-Retired
Mon Nov 20, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 167
Views: 9417

Re: Dave Ramsey says don't use credit cards, even if you pay them off

Do you all agree with Dave on this? He says that it's stupid to use credit cards even in situations where you use credit cards for rewards points (credit card hacking) and pay them off each month without paying any interest. His argument is that there have been studies done that show people spend m...
by JW-Retired
Mon Nov 20, 2017 8:23 am
Forum: Investing - Help with Personal Investments
Topic: Help with Roth IRA Phase Out
Replies: 13
Views: 1237

Re: Help with Roth IRA Phase Out

Not sure what this means. Form 8606 does keep track of your IRA basis and yes, it accumulates. But apparently you don't have any basis other than what you have contributed so far this year. Possibly the OP knew there was no basis in the IRAs he converted in 2011 & 2012, so the 8606 was just skipped...
by JW-Retired
Sun Nov 19, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Returns - How Long Do you Keep?
Replies: 37
Views: 2299

Re: Tax Returns - How Long Do you Keep?

I've got the paper ones back to 1970. Quick and easy to look at any one of them on a whim. The old ones are a hoot! In 1990 we began doing our taxes with the first of a series of software products. We welcomed that, but I can only tell it was that year by seeing when a dot matrix printer 1040 shows ...
by JW-Retired
Sun Nov 19, 2017 11:46 am
Forum: Investing - Help with Personal Investments
Topic: Regular 401K vs Roth 401K
Replies: 26
Views: 1168

Re: Regular 401K vs Roth 401K

..............is there a general rule of thumb that people should follow? Yes. If you will be in a lower tax bracket in retirement then you want to defer taxes on your contributions. You will pay a lower tax rate later. If you expect a higher bracket in retirement then the more Roth the better. It'...
by JW-Retired
Sun Nov 19, 2017 10:53 am
Forum: Investing - Help with Personal Investments
Topic: Rollover 401k to TIRA or backdoor Roth IRA
Replies: 6
Views: 453

Re: Rollover 401k to TIRA or backdoor Roth IRA

Note: I am not looking at the option to rollover my 401k to my new employers 401k as I can eliminate any additional administration costs tacked on top of the fund expenses along with other scalable options. nirvana, Usually you can't really rely on the admin expenses just being "tacked on" to inter...
by JW-Retired
Sun Nov 19, 2017 9:52 am
Forum: Investing - Theory, News & General
Topic: Where did you first learn about investing?
Replies: 96
Views: 4172

Re: Where did you first learn about investing?

From Grandpa in the 1950's. He had sold the last investment property the depression left him with and bought dividend stocks for he and Grandma to live on. When his vision deteriorated I got drafted to help them keep track of them. Their portfolio was mostly buy and hold utilities and there was very...
by JW-Retired
Sat Nov 18, 2017 2:33 pm
Forum: Investing - Theory, News & General
Topic: Should we be using high equity retirement portfolios? - Some cFIREsim scenarios.
Replies: 50
Views: 4133

Re: Should we be using high equity retirement portfolios? - Some cFIREsim scenarios.

But for people who won't sell on a dip, why wouldn't they want to use a high equity allocation? .................................. So, back to my question: Why wouldn't someone who has a few million to live off for the rest of their life have a 90/10, or even 100/0 allocation? To answer for our cas...
by JW-Retired
Sat Nov 18, 2017 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Vs Traditional IRA for Wife’s Accounts
Replies: 6
Views: 333

Re: Backdoor Roth Vs Traditional IRA for Wife’s Accounts

Deighve wrote:
Sat Nov 18, 2017 10:47 am
Since none are with active employers I can’t roll them into one 401k.
What does not active employers mean? Have you talked to the admins of all of the 401ks? It seems odd they would not like more assets.
JW
by JW-Retired
Sat Nov 18, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - should we do it?
Replies: 9
Views: 934

Re: Backdoor Roth - should we do it?

I have approx $33k in Traditional from previous employer 401k. Wife has about $3k in her Traditional IRA from Texas Teacher Retirement System. .....snip......... I presume it's worth contributing into the Traditional IRA over taxable account even if it's non-deductible because it keeps the option o...
by JW-Retired
Sat Nov 18, 2017 9:03 am
Forum: Investing - Help with Personal Investments
Topic: RMD account
Replies: 16
Views: 1251

Re: RMD account

doobman wrote:
Fri Nov 17, 2017 3:25 pm
And should we not reinvest dividends, interests and capital gains of tax deferred accounts, but use them in taxable account?
That seems a pointless complication to me. Why do it?
JW
by JW-Retired
Fri Nov 17, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Timing of rolling IRA into 401k & initiating a back door Roth conversion
Replies: 6
Views: 376

Re: Timing of rolling IRA into 401k & initiating a back door Roth conversion

First step was to move 100% of my Traditional IRA $ (all pre-tax) into my company 401k (will actually save me a few pennies on ER/fees for nearly identical investments). As of OCT 31 2017, I have zero $ in a Traditional IRA in my name. (I had a lot of money in a Traditional IRA in SEP 2017) My ques...
by JW-Retired
Fri Nov 17, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at FRA of 66, or delay for one year?
Replies: 10
Views: 830

Re: Retire at FRA of 66, or delay for one year?

With your assets, paid off house, and the age & lifetime wage status of your wife, it sounds like you should look carefully at not drawing Social until age 70. JohnFiscal, I second JD. With your wife being 12 years younger, odds are she is going to be relying on your SS check for like 15 years afte...
by JW-Retired
Fri Nov 17, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 37
Views: 3144

Re: Advice needed for parent's finances

I only had time to read some of the replies, but if you do a 1040 return by hand as a trial with estimated numbers you can tweek, you can see pretty clearly when Social Security taxability happens. If the spreadsheet has a learning curve and by hand is slow, the online tax calculator I use is quite...
by JW-Retired
Thu Nov 16, 2017 10:25 am
Forum: Investing - Help with Personal Investments
Topic: What to do with IRA
Replies: 2
Views: 200

Re: What to do with IRA

I had about 46k rolled into an IRA with Fidelity because my former employer doesn't allow rollovers to other 401ks. My question is should I roll that IRA into my new 401k, or would I be better off doing the allocation myself? I don't have extensive knowledge or experience on managing an IRA. I vote...
by JW-Retired
Thu Nov 16, 2017 9:50 am
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

Can you tell me more about the 401k contribution limits.... this is $18000 per 401k account and globally $54000. So since I just joined a new employer, I can continue to contribute to the new 401k $54000 minus what I contributed with my previous employer? Is it how it works? And since I cannot cont...
by JW-Retired
Thu Nov 16, 2017 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Investing help family of four....Do nothing?
Replies: 22
Views: 1856

Re: Investing help family of four....Do nothing?

25% tax bracket 95K left on my mortgage (3.75% 15 yr) Zero debt Married: 2 kids (10th grader/8th grader). I'm sole breadwinner State of residence: NC 45 yrs old Total portfolio: approx 180K in taxable savings sitting earning 1% APY in a bank account 325K in Vanguard 2015 target retirement fund Roll...
by JW-Retired
Wed Nov 15, 2017 9:04 pm
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

Ok great! So the last part that you haven't answered: 1. these $5500 in the tIRA, do I have to invest them in some funds before doing the conversion or can I just keep them in "cash" in the tIRA ?(not sure what is the right term) 2. in the case of my wife, how long should I wait between funding the...
by JW-Retired
Wed Nov 15, 2017 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: Been thinking about this post for a while...Mom's retirement
Replies: 13
Views: 1516

Re: Been thinking about this post for a while...Mom's retirement

A SPIA would be a much better deal if she waits until she is much older. Appears she doesn't need the income until she stops working so I wouldn't buy one now.
https://www.immediateannuities.com/
JW
by JW-Retired
Wed Nov 15, 2017 7:05 pm
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

loklav wrote:
Wed Nov 15, 2017 5:46 pm
There is one 8606 by person, right?
So I agree with you, in my case I will certainly have to wait.

But concerning my wife, it should be ok right?
Yes, wife backdoor Roth would be good to go this year.
JW
by JW-Retired
Wed Nov 15, 2017 5:31 pm
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

ps: If you can make your tIRA disappear into your 401k by Dec 31, 2017, then next year you could make two $5500 non-deductible contributions to your own tIRA. One for 2017 made before April 2017, and the other for 2018 made at the same time or later in the year. (You have to check a box to tell Van...
by JW-Retired
Wed Nov 15, 2017 10:38 am
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

Next year, I will avoid doing more than $5500 non deductible contributions to our 2 tIRA, to be able to rollover them again. loklav, Be careful with describing what you are doing to your tax software or the person doing your taxes. The move of the tIRA to your 401k is a rollover, but the move from ...
by JW-Retired
Tue Nov 14, 2017 4:02 pm
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

My comment was in the case that I do nothing at all (no backdoor, no rollover): I just keep my existing rollover IRA. Because it's now an IRA, and because of my MAGI, does it mean that I have 45K that are now non deductible? I mean, they were deductible when they were in my 401k. Now that I rollove...
by JW-Retired
Tue Nov 14, 2017 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Need help to understand tIRA rIRA conversion
Replies: 27
Views: 1814

Re: Need help to understand tIRA rIRA conversion

- my wife does not have a 401k and I have one, that I just recently this year rollovered to a fresh new IRA (I don't have any other tIRA or rIRA) So because of our MAGI, a contribution to a tIRA (max $5500), will be non deductible, right? so if I do this (non deductible) contribution and then I con...
by JW-Retired
Tue Nov 14, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Wife's 401k investment options (high fees!)
Replies: 26
Views: 1265

Re: Wife's 401k investment options (high fees!)

Right now all of her contributions are going to the S&P 500 Index which has an ER of 0.70% (the lowest available fund). ...................... Given that about a third of the funds are under 1% ER, is there a strong case/justification to lobby HR? S&P 500 is 80% of the total US market. I would be s...
by JW-Retired
Tue Nov 14, 2017 10:14 am
Forum: Investing - Help with Personal Investments
Topic: 401k / IRA questions
Replies: 8
Views: 786

Re: 401k / IRA questions

New questions: ........ 1B) Is there a limit to how much money I can backdoor each year to my Roth $5500? I couldn't find anything with a google search. The yearly limit on a contribution to a tIRA is $5500 ($6500 if age 50 or more ), and no limit on a Roth conversion. IRS doesn't have rules on a "...
by JW-Retired
Mon Nov 13, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Long term capital gains tax - effective tax is higher than 15%
Replies: 15
Views: 1084

Re: Long term capital gains tax - effective tax is higher than 15%

Are you taking social security? That can grossly distort the apparent marginal tax on other income.
JW
by JW-Retired
Mon Nov 13, 2017 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Help with daughters first investments
Replies: 12
Views: 711

Re: Help with daughters first investments

My adult daughter (21 years old) is currently in her first year of graduate school. She anticipates completing her masters degree in may of 2019. She is currently working for the university as an Graduate Research Assistant working 20 hours a week and making $20k. She is single and will be off my t...
by JW-Retired
Mon Nov 13, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: IRA and 401K Required Mandatory Distribution (RMD)
Replies: 3
Views: 314

Re: IRA and 401K Required Mandatory Distribution (RMD)

My 70th birthday was December 2016 so I reached age 70.5 in May 2017. So, I believe I am required to make my first RMD from the 401k and the IRA by April 1, 2018. And my second RMD by December 31, 2018. Am I correct about both dates? Yes, your "1st RMD" is for 2017 and can be taken any time between...
by JW-Retired
Sun Nov 12, 2017 8:42 pm
Forum: Investing - Help with Personal Investments
Topic: Resolving excess Roth contribution?
Replies: 2
Views: 163

Re: Resolving excess Roth contribution?

Hello, Any recs to remove excess Roth contribution? Here's my situation, I recently made a $500 contribution to my Roth IRA. Unfortunately, I did not remember that when I recently married, our joint filing status pushed us above the allowed MAGI to contribute! Should I withrawl the excess funds and...
by JW-Retired
Sun Nov 12, 2017 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Software
Replies: 41
Views: 3881

Re: H&R Block Software

DarkNyte wrote:
Sat Nov 11, 2017 7:04 pm
Found a link on slickdeals for 50% discount on H&R Block 2017 software and thought people would find it useful here.
Got it!
Thanks DarkNyte ............. much better price than I usually pay.
JW
by JW-Retired
Sun Nov 12, 2017 10:47 am
Forum: Investing - Help with Personal Investments
Topic: LifeStrategy Fund in Taxable account
Replies: 16
Views: 1417

Re: LifeStrategy Fund in Taxable account

My question: Assuming that the Vanguard LifeStrategy Fund is a reasonable Fund for them in the first place, is there any concern about them holding that Fund in a taxable account, from a tax efficiency stand point? (Or from any other perspective...) DW and I are in your parents position of not need...
by JW-Retired
Sun Nov 12, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: How much spending would this retirement situation support?
Replies: 4
Views: 628

Re: How much spending would this retirement situation support?

How much? $48k SS + $100k pension + 0.035x$1.3M "safe" draw from your 401k/IRAs = $193.5k gross. $193.5k gross - $33225 federal taxes = $160275 net income per a handy tax calculator. https://www.hrblock.com/get-answers/tax-calculators.html#/en/te/ Caution, your $48k SS looks high for people taking S...
by JW-Retired
Fri Nov 10, 2017 11:08 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Questions
Replies: 14
Views: 774

Re: Backdoor Roth Questions

retiredjg wrote:
Fri Nov 10, 2017 9:47 am
fgibbons92 wrote:
Fri Nov 10, 2017 8:59 am
We both contribute to a Roth 401k- so that doesn't decrease our AGI. Would a better strategy be to contribute to the traditional 401k and then contribute directly to the Roth IRA?
That is what I would do.
Me too.
JW
by JW-Retired
Fri Nov 10, 2017 10:06 am
Forum: Investing - Theory, News & General
Topic: Please help me understand tax loss harvesting
Replies: 12
Views: 594

Re: Please help me understand tax loss harvesting

When it comes to tax loss harvesting...say I have a 6K loss. Does that mean I am able to offset 6K in gains? Or am I able to only absorb 3K of capital tax gains? Remember these are realized gains and losses, meaning you actually sold the assets. There is no limit to the gains that can be offset by ...
by JW-Retired
Thu Nov 09, 2017 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Teaching an old dog some tricks
Replies: 14
Views: 1612

Re: Teaching an old dog some tricks

I am 47, married to a 53 year old with a 14 (prayers accepted) year old son. I know NOTHING about investing and carry an inherent distrust of bankers (probably not fairly earned). I inherited $600k (thank you Daddy) and have it plopped in a savings account (well, 2 at 2 different banks). What now? ...
by JW-Retired
Thu Nov 09, 2017 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Questions
Replies: 14
Views: 774

Re: Backdoor Roth Questions

My fiance and I are getting married next June, so we will be filing our 2018 income taxes jointly. Our combined income is about $200,000 which prices us out of a Roth IRA. Are you sure you are going to be priced out next year? Income of $200k, less two fairly puny $10k 401k/403b type contributions ...
by JW-Retired
Wed Nov 08, 2017 4:21 pm
Forum: Investing - Theory, News & General
Topic: Open a Roth but Vanguard minimum investment too high?
Replies: 19
Views: 1007

Re: Open a Roth but Vanguard minimum investment too high?

Remember that you can exchange funds inside of your Roth anytime with no tax consequences, so start with $5500 in VTSMX, a target date fund, or a life strategy fund. Keep contributing each year and soon you will have enough to exchange into your desired three fund portfolio, use investor shares fir...
by JW-Retired
Tue Nov 07, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: More into Tax Deferred or start Taxable Investing?
Replies: 11
Views: 1083

Re: More into Tax Deferred or start Taxable Investing?

When I began looking at investment options in the 403b (AXA), I was less than pleased at what they were offering. The lowest ER is .6% and some of the index funds are close to .9%. An ER of 0.6% isn't that bad, and IMO you only need one OK fund to make it plenty worthwhile to use the 403b. I would ...
by JW-Retired
Mon Nov 06, 2017 9:45 pm
Forum: Investing - Help with Personal Investments
Topic: my plan for portfolio
Replies: 9
Views: 814

Re: my plan for portfolio

My current investments in the fidelity 401k are vpmax 27%, PTTRX 13%, viniv 10%, vwnax 10%, vwenx 9% vbtlx 8%, vsmax 8%, FCNKX 8%, FSEVX 4%. I have been told by fidelity that I should be more aggressive. The value is only $60,000.00. IMO, at age 33 a $60,000 401k is a pretty good start at retiremen...
by JW-Retired
Mon Nov 06, 2017 11:10 am
Forum: Investing - Theory, News & General
Topic: Dividends make up for high mutual fund fees
Replies: 31
Views: 2026

Re: Dividends make up for high mutual fund fees

Unfortunately his advisor put him into funds a long time ago with high fees, not just this one fund company. But because the dividend income looks good, I think he's not sensitive to the onerous cost. He just sees the dividend checks and isn't looking much beyond that. I did say fees have a real im...
by JW-Retired
Mon Nov 06, 2017 8:43 am
Forum: Investing - Theory, News & General
Topic: Dividends make up for high mutual fund fees
Replies: 31
Views: 2026

Re: Dividends make up for high mutual fund fees

investingdad wrote:
Mon Nov 06, 2017 8:32 am
I did not have a reply for that.
How about "Nonsense!" :D

Really, it's no use talking to the family member about investing.
JW
by JW-Retired
Sun Nov 05, 2017 9:02 pm
Forum: Investing - Help with Personal Investments
Topic: How has your AA philosophy changed over the years?
Replies: 45
Views: 3568

Re: How has your AA philosophy changed over the years?

I've always been fairly Bogleheaded, but on top of that we had the spectacular luck to find this forum in 2007. That has made our investment approach perfect! There is no other forum like it.

Thank you Taylor, SScritic, livesoft, and many others! :beer
JW
by JW-Retired
Sun Nov 05, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax efficiency query- Stock losses
Replies: 14
Views: 948

Re: Tax efficiency query- Stock losses

This year my income from employment will be substantially more and will put me from 28 to in 35% bracket. In my taxable account (non BH style), I have some individual stocks which have lost high value ~ $20,000, I am not planning to buy them again. 1) will I be able to benefit in taxes by selling t...
by JW-Retired
Sun Nov 05, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Does Retirement Make You Lazier?
Replies: 87
Views: 7576

Re: Does Retirement Make You Lazier?

I'm semi-retired. I began working three days a week starting last year and laziness has crept into me. When I was working full time, I came home and worked around the house most evenings and in the yard every weekend. Now I don't want to take the lawnmower out of the garage anymore, I've hired peop...
by JW-Retired
Sat Nov 04, 2017 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: my plan for portfolio
Replies: 9
Views: 814

Re: my plan for portfolio

I am 33yrs old - I recently resigned from my job and want to transfer 401k from Fidelity to Traditional IRA in Vanguard. I want to invest in the following - 60% VTSAX, 10% VBTLX, 20% VCSAX 10% PONDX. Any opinions? One caution......... If you have, or sometime will have, a high enough income so you ...
by JW-Retired
Sat Nov 04, 2017 10:44 am
Forum: Investing - Help with Personal Investments
Topic: Please critique tax efficiency of my portfolio
Replies: 18
Views: 1658

Re: Please critique tax efficiency of my portfolio

Also, even though the higher AMT rate is indeed 28%, I suspect you are in the phase-out range and your actual marginal tax bracket is 35% as a result. I have similar numbers as you, and was shocked a few years ago to discover this. To validate, if you use TurboTax, add $100 to your W2 income and se...
by JW-Retired
Fri Nov 03, 2017 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Spousal Benefit Question
Replies: 4
Views: 566

Re: Social Security Spousal Benefit Question

My wife reached FRA in July 2017 and started her spousal benefit. She plans to delay her retirement benefit (so it will continue to increase) until she reaches age 70. Her spousal benefit appears to be about one half of my FRA retirement benefit. Your FRA benefit (aka, primary insurance amount/PIA)...
by JW-Retired
Thu Nov 02, 2017 3:24 pm
Forum: Personal Consumer Issues
Topic: Do you Mow your own Lawn?
Replies: 90
Views: 2929

Re: Do you Mow your own Lawn?

No. We had lawns for a few years long ago but they were on poor soil, generally looked bad, and naturally we disliked mowing them. It took a while, but via a combination of adding a room, a semi-drought tolerant front yard full of shrubs & roses & a couple of trees, a courtyard that's mainly pavers,...
by JW-Retired
Thu Nov 02, 2017 10:54 am
Forum: Investing - Help with Personal Investments
Topic: Another my 401(k) options are bad, please help posts
Replies: 7
Views: 593

Re: Another my 401(k) options are bad, please help posts

My (401K) options are: VFINX @ 0.14% Vanguard 500 Index VBINX @ 0.19% Vanguard Balanced Index VBISX @ 0.15% Vanguard Short-Term Bond Index (Only bond available that didn't sound crazy) PIEQX @ 0.45% T-Rowe Price International (This is the only international that wasn't around 1.00%, and none were V...