Bogleheads.org

Some travel policies are primary payer and some are secondary. Will depend on what your policy says.

FYI, this info is displayed in the comparison chart when you shop for travel insurance at tripinsurancestore.com. Probably buried in the many pages of your policy.

In Oregon, you can change Medigap plans in your birth month, but the move has to be lateral (same plan at a different company) or down (lower level plan). When G-HD became available, I switched from the F-HD plan at the same company. Saves me only a few dollars a month on the premium, but I expect the difference will go up as my "attained" age goes up.

I have contacted charities directly to tell them I will make a contribution but do not want my name/address to be entered into their database. You can state implicitly or explicitly that if you receive any mailings -- beyond the acknowledgement letter -- from the charity, they will no longer get donations from you.

Be warned, however, that agreement can break down if personnel change and may have to be reiterated. (My experience.)

CashConfessions wrote: ↑Fri Mar 17, 2023 12:20 am
- If you're ok sleeping on a (somewhat-padded) floor, you may want to try a ryokan (traditional Japanese inn) in Kyoto. At least one meal is typically included per night. Many of the places allow you to book online and speak/email basic English.

I never slept better than the two years I lived in Japan. In my little apartment, I spread the futon out on the tatami (woven grass mat) floor each night. When I traveled, I stayed in ryokans, with the same sleeping arrangement. And the meals at the small-town inns were usually fabulous. Love me a big Japanese breakfast with rice, fish, miso soup and three kinds of seaweed.

I went to live in Japan for two years in the early 1980s. Two things I did to prepare: 1) brought a few cloth handkerchiefs as napkins and paper towels are not often available. 2) brought plenty of tissues or ends of TP rolls as TP is not always available in public toilets. Yes, you can buy these things in Japan, but you want to make sure you have them at hand when you need them.

I have not been back in many years, but I'm sure someone here will advise if the lack paper products at point of need is no longer an issue.

Being more generous with myself and others -- and enjoying it.

All my life I've felt the need to account for every penny. Now, I know that I don't have to. My biggest expenses are now travel/experiences and charity.

You never know what you might need to transact with ss. As others on this thread have pointed out, stuff happens. Banks can be taken over and the account where the check is deposited has to be changed. An issue may arise that requires a call to ss. They will not talk to you if you are not established as the account holder's fiduciary. Also, making myself the fiduciary insured that no one else could mess with her account. Did I miss something? I didn’t think SS recognized a fiduciary (power of attorney) position. My understanding is that they only define a “representative payee”. A representative payee gets the income from SS and distributes as appropriate. That means a lot more work than just using the POA authority when a change is requir...

What about their social security accounts? To have that access, you really need to be named their fiduciary, which involves paperwork and an interview at the SSA office. But what did you have to transact with SSA? I never had to do anything; the checks just showed up. When my relative passed away, I believe I called SSA immediately, and no further deposits appeared. I don't recall any authentication being required. You never know what you might need to transact with ss. As others on this thread have pointed out, stuff happens. Banks can be taken over and the account where the check is deposited has to be changed. An issue may arise that requires a call to ss. They will not talk to you if you are not established as the account holder's fidu...

What about their social security accounts? To have that access, you really need to be named their fiduciary, which involves paperwork and an interview at the SSA office.

I handled my mom's modest accounts and her ss because she had alzheimer's. Keep good records. Document everything, especially any reimbursements you make to yourself for payments you make on their behalf. It's helpful that they can be involved at this point. My mother couldn't really be involved, but I knew she wanted me to handle her accounts, and my brother was fine with it.

Side note: I didn't really know what I was doing as far as "the proper way to do things." I just did the best I could and documented everything.

QCDs can be taken from traditional IRA only.
If a 401k is rolled into a tIRA, then the $$$ can be taken as QCDs. The money in my tIRA is largely from a converted 401k.

K72 wrote: ↑Sun Feb 26, 2023 2:27 pm

ResearchMed wrote: ↑Sun Feb 19, 2023 8:30 pm Hmmm...
Some of the cities/towns near us participate.
So does ours, supposedly. But the membership is something under $50/year.
There are just about no services, just a few referral phone numbers.

The other towns seem to be far more active.

RM

I went to a "meet and greet" last week for our local chapter. I was quite impressed until I found out the cost, which is $1500/year per couple (largely to pay for 2.5 staff). No thanks.

Wow. Where are you located? Our village in Oregon is $540/y for first person in household and a reduced rate for second.

nextmilenium wrote: ↑Mon Feb 20, 2023 2:35 pm So I guess the KEY is to distribute just enough so you can spend it all!

The key is to distribute as much as required, spend as much as you need/want, and save the rest. As long as your level of spending fits into your budget. Once dollars leave the retirement account it's just money.

If you are on plan G, what would it to to premiums if others in your actuarial pool are going to the ER for a strep throat because it is all paid for anyway? I'll be starting Medicare later this year. I'm planning on choosing G or HD-G. I've been reading that (a) you only get one medical physical; that's during your first year on Medicare. After that it's a wellness visit. I'm used to having one annual physical with a comprehensive blood panel to ensure that everything is okay. Is that not available on medicare? Does the gov't deem an annual physical as unnecessary / excessive? Seems wrong to me... Or is it just a game and PCPs will still do physicals and comprehensive bloodwork and just code it appropriately in the manner that Medicare wa...

I am deeply involved in the Village Movement. I started volunteering in 2015 as our local village was getting up and running. It takes about 3 years to form the organization, and I started at the beginning of the second year. I joined as soon as we opened for members. First, the Village Movement is volunteer driven. (Not a business opportunity.) It is launched and run by volunteers, although they may hire someone to help at the office for continuity. Each age-in-place village covers a defined geographical area and is designed around the needs of the local community. Our village, Viva Village, covers Beaverton, OR, and some adjacent neighborhoods. Villages in the Portland Metro area operate in a hub-and-spoke model with an organization calle...

I have been on an HD plan since I started Medicare in 2015. First F-HD, then switched to G-HD when it became available, as is allowed in Oregon. I have spoken to a couple of brokers to see if they might recommend a different G-HD insurance plan. Both did not include HD plans in their roster of offerings. Both told me (with confidence) that people didn't like messing with all the bills that would come through if you're on an HD plan. They insisted people prefer to pay the (much) higher premium just for the convenience, even if they use very little in the way of healthcare services. They sounded liked car salesmen who don't want to talk to you about economy cars because all they sell are SUVs. Since late last year I have been muddling through...

How I projected my spending shortly before retiring almost 9 years ago: First, I have been using Quicken for decades and so have a deep history of spending trends. I started with quick and dirty. Reviewed annual income over past several years, subtracted what I saved each month/year to figure out what I have been getting by on. Good ballpark number to start working with. Then got into the detail. Reviewed basic expenses and discretionary spending over several years and listed every expense I would continue to have in retirement. Added in other expenses that will need to be in the budget. (E.g., health insurance previously covered by employer.) Take that number and increase it by 10-25 percent to get a comfortable cushion. I gave that number...

Normchad wrote: ↑Thu Feb 16, 2023 10:51 am My mothers portfolio has been flat for 15 years. I imagine the reasons are common to a lot of people.

1) it is invested conservatively
2) she doesn’t spend any of it, but sends the dividends and RMDs to charity
3) her advisor charges 2% or so per year

For myself, if things go according to plan, I expect my portfolio will grow substantially even as I make withdrawals to support myself.

She IS spending from her portfolio. Maybe not on herself, but charitable giving is an expense. So is the money going to her advisor.

In year 9 of retirement. I primarily monitor my expenses. Each time I open Quicken to reconcile accounts -- one or two times a month -- I see my spend to date. I know how much I can afford to spend in a year, so it's easy to do a little math and see that I am within my guardrails. I also keep an eye on the total investment amount. Once in a while I use the Vanguard portfolio watch tools to see where my asset allocation stands. I wouldn't adjust unless it became wildly off track from the 60/40 aa I aim for.

Other than that, the only calculation I have to do is figure out what investments in my basic 4-fund IRA I should use to take my RMD. I spend no time considering new investments.

Fidelity(old employer's account) sent him a cheque on Morgan Stanley(new employer's name). If it was a direct rolloever (which is the usual method), the check would be made out to Morgan Stanley FBO Your Friend's Name, and mailed to Morgan Stanley. It is not the normal process to have the check sent to the account owner, and even if it were, these checks cannot be cashed by an individual. Most likely the check went straight to Morgan Stanley and was deposited there, as others have posted. Have your friend check his MS account. Fidelity does not mail the check (or transfer the $$$) directly to the other brokerage. They make the check out to <Morgan Stanley FBO account holder name> and send it to the Fidelity account holder. I went through t...

Some people recommend What Color Is Your Parachute? for Retirement.
https://www.goodreads.com/en/book/show/56686

As I got closer to retirement (not early) I stopped looking at books focusing on finances and sought out titles that were more about living in retirement. Mostly I scanned the library shelves. Ended up buying this one.

Personally, I don't get a lot out of online language programs, so I'll leave it for others to recommend what has worked for them. But I want to offer a tip that has helped me recover and maintain language skills: Log into a streaming radio station -- preferably news or talk rather than music -- and just let it play around you all day. Every morning when I wake up, I launch Radio France Info through an app and it is in my ears much of the day. Sometimes I listen to figure out what the news of the day is. At other times it's just background noise that softens my ears to the sounds and rhythms -- and different dialects -- of the language. When I hear something that captures my interest, I might search out a news source in French or English to ...

Viking is wonderful. My cabin was on the lower deck, so kind of dark and confining, but, hey, it was an all-expenses-paid trip. If you're interested in the itinerary and not so much on the luxury of the ship and would like to save some money, CroisiEurope is a good value line. The French-owned company offers many itineraries around Europe and elsewhere. Good service and very good food, although selection is not as expansive as on the fancier ships. Not all of their ships have balconies. They have the only ship -- the Loire Princess -- that navigates the Loire River in chateaux country. (And that one has balcony cabins. Really enjoyed that despite the low-water levels.) If someone suggests Vantage Deluxe World Travel ... DM me and I will exp...

Early Boomer here. When I was about 18 years old and applying for my SS card (yeah, back in those days young children didn't get SS#s) my mother gave me the most valuable bit of advice I probably ever got in my life. She said to pick an "official' form of my name and use only that form on any official documents. I went with Geraldine <middle initial + last name>. Although my passport has my full middle name, everything else of import (government, financial, medical) gets the official form of my name selected all those years ago. Reading stories here and on other forums about the problems people have had involving various signatures they have used, I realize what a gift it was that my mother gave me. It has saved me so much grief -- eve...

I am struggling to answer a question that people ask me when i tell them i am retiring in 6 months... The question is something like "what are you going to do once you retire"... So i am wondering what others are doing once they retire...what kind of hobbies or what do you do to keep yourself busy, entertained, excited and your brain and body healthy? Liveinaz A couple of years before I retired, I began keeping a list of things I wanted to do. It was not a bucket list. It was more of a reminder of things that I could do if I started getting bored. It included time-intensive activities, like taking a language class and taking a long driving trip, and smaller activities, like a day trip to a nearby destination. Hobbies to try, gara...

makes one wonder that maybe living so frugally while younger to build a substantial nest egg isn't actually the best way to live. How many regret not traveling more while younger only to find that they can't travel to the places they wanted to go because of age or can't experience those vacations like that could have if they were younger. There must be balance and you have to live life as you go. Maybe I got to have the best of both worlds. From 21 to mid-30s, I didn't think about the future and enjoyed traveling and living in different places, including different countries. I finally got serious and settled down. House. Career-like job. 401k. Continued "living like a student" and saved whatever I could because, well, you never k...

For most of my life, I have subscribed to the idea of being happy to have Enough. My frugal habits made it possible for me to retire with More Than Enough. So now I am focusing on More. The key for me has been knowing how much I can safely spend. I have given myself a generous annual allowance that a CFP tested against my portfolio, so I am comfortable spending up to that amount - even though I haven't yet. (And I keep a running tab of how far below that target I am coming in, so I have a pool of extra $$$ beyond the annual allowance.) Knowledge about how much I can safely spend has freed me to be more generous to myself and to others. Charitable giving (yea QCDs). Symphony subscription so I can invite friends to come with me. Even more tra...

My dad started me on a Roth IRA with Dodge & Cox, and I've been contributing to it for over 15 years now. Recently, I've begun doing more research on investing with low cost index funds. I currently have Roth IRA investments in DODGX/stock, DODFX/international, DODBX/balanced, and DODIX/income funds. They have all been good investments, but the expense ratios are .51%, .62%, .51%, and .41%. Based on what I've read, having low expense ratios and turn-over, should I / can I switch to a new investment company for my Roth IRA? My very first mutual fund was Dodge&Cox Stock. I chose it for my traditional IRA (before Roth was invented) because of the relatively low ER. Low for a managed fund. I never added any new $$$ to the IRA. It did v...

Almost everything that can be discussed on Bogleheads has been discussed already (often to the point of disgust:)). But I haven't seen this. Feel free to point me in a direction of a previous post. Creeping up on an early retirement. How do you buy a major purchase and stay within the SWR of x% per year? I can think of a few options 1. bite the bullet, take the amount out of your total pile o' money and withdraw x% on the new amount. this creates a major hit on the SWR from previous year to the year after the major purchase. 2. finance the major purchase to maintain SWR rates (because it can be "paid for" over a number of years (this violates my conscience so I don't think this can be Boglehead consensus) 3. plan ahead, move stuf...

I use Online Taxes (OLT) to file. The process for entering RMDs in not well documented and the part about identifying the difference between the full RMD and the QCD is buried. After you enter the info in the software, it shows up in tiny type on the 1040. If you miss it, you get a fat envelope from the IRS demanding more taxes and a penalty.

I speak from experience. In my second or third year using QCDs, I missed it. I was able to send in documentation (including acknowledgement letters from recipients) showing that I had taken QCDs, but it was a PITA -- and a bit stressful.

Very carefully review the final 1040 and make sure you can see the QCD annotation.

Retiree here. Our yearly spending is between $33,000 (2016) to $75,000 (2021). We don’t budget anymore because of Covid and entering my slow go years. We just don’t spend that much anymore. Last year, we bought a new car. Our social security and pensions cover our yearly needs (with cola). My wife will let me know if we overspend. That’s happened once in 44 years of wedded bliss! Besides the car, any extra spending is for Roth conversions. So we are averaging around $45,000 a year. (If necessary we could spend over $140,000 each year.) :beer Also a retiree. I've never budgeted in the detail many are documenting here, but I do after-the-fact budgeting. That is, I keep track of my expenses in Quicken. My "budget" is the annual allo...

What you might want to consider is having a guaranteed income stream (i.e., SS and annuities) to cover your basic living expenses, the "what is the minimum I need to live on" part of your budget. Plan to have your investments cover your discretionary spending, and you can be flexible about the rest of that estimated $15k/mo based on how markets are treating your portfolio.

The poor OP is now going to get a dozen different alternatives to the three-fund portfolio. The smartest people on the Forum can't agree on what is the best approach because there is no one best approach . There's a lengthy thread in progress on factoring, and an umpteenth one on international. I've lost count of the posts about I Bonds and TIPS. Everyone has perfectly valid reasons for their particular viewpoint. The three-fund portolio is simple enough and will be good enough . Avoid the urge to tinker because there is no end to the kind of tinkering you can do. Yes. Around 2009 when friends were cashing out their stock holdings, I didn't know what to do. So, I decided to embrace my ignorance and left my plan in place. Good decision, so ...

Triple digit golfer wrote: ↑Thu Jan 12, 2023 3:50 pm If your goal is to time the market, yes.

If your goal is to build up a larger emergency fund due to a higher than previously expected chance of a layoff, no.

This is what I was going to say. Figure out how big your emergency cash cushion should be given current employment conditions and build it up to that point before adding to your taxable investments. That's not hoarding. That's being responsibly prepared.

gerntz wrote: ↑Thu Jan 12, 2023 3:06 pm Costco is your friend.

I just got a backup pair of glasses at Costco. Brought in my prescription (progressive, high-index, prisms, non-glare coating), brought in my own fairly large spare frame. Total cost was $185, which included Pof (patient own frame) charge. With VSP insurance coverage, I was just $95 out of pocket. Can't beat that with a stick.

In my taxable account for simplicity I am looking to keep just one fund and that is Vanguard Balanced Index fund. How do you find out whether there is going to be much of capital gain distribution? I'm in a low tax bracket and as long as there isn't much distribution I should be fine. I use target retirement funds in my IRA accounts, have about 12 years before I would retire. Info about end-of-year cap gains distributions in VG Balanced Index fund comes too late to be able to make any tax moves. Probably. My taxable account has been in VG Balanced Index for a long time. Too long and too low a cost basis to be able to move it now. So I live with the uncertainty about cap gains distributions. The unexpected bump in earnings in late 2021 seem...

I didn't have a "piggy bank." When we were little (elementary school?), my mom gave my brother and me each a tin lockbox with 6 compartments. A budgeting box. When we got our allowance, we divided it into different budget items, including milk money* for school, gifts (so we didn't ask mom for money when we wanted to buy her a birthday gift), savings and discretionary. Can't recall how we handled money we were given by the relatives, but I'm guessing we were encouraged to put some of it in savings. For large wants, my parents would make a sort of contract with us. If we saved half, they would put in the other half. Over the years, I recall, I bought a large special doll, an erector set, and a telescope. My brother and I have both ...

Road Scholar has just announced two lengthy round-the-world cruises they are calling World Academy. One is ~131 days and the other ~110. Different itineraries and different cruise lines (Holland America and Cunard/QM2). Fairly pricey. Pretty much all-inclusive (gratuities also, I believe). You should be able to find info on their website: roadscholar.org.

Did you ask for high index lenses (extra cost)? I like large lenses and often had very thick edges. They said that was the nature of large plastic lenses with my strong prescription. Then I started having the option of high index lenses. I pay the extra and, although my prescription has only gotten stronger, even my largest lenses are not unreasonably thick at the edges.

I use a 22" roll-a-board TravelPro for trips of 2-4 weeks when I will be moving around, but I check it. Carry-on is a medium-size backpack. I prefer the 2-wheel style for navigating cobblestone streets. For my upcoming cruise, when I won't be moving about much, I will take a 26" spinner.

I am officially elderly. One key feature of my password management system is that I never talk about my password management system. Ever. To anyone. Certainly not online. Yes, it is documented for my executor/DPOA. What is the age cutoff for elderly? There isn’t just one. It’s like car warranties. Different for different parts and purposes. Although when I turned 50 and asked a doctor about various ailments they always seemed to be a result of being over 50! I decided that I became officially old at 70.5, as that was the last age limit that impacted retirement-related decisions. Some prior age limits were 59.5 (withdraw from IRA w/o penalty), 65 (Medicare), 62 (can start taking SS), 70 (SS deferred retirement credits stop). Of course, Cong...

I am officially elderly.
One key feature of my password management system is that I never talk about my password management system. Ever. To anyone. Certainly not online.
Yes, it is documented for my executor/DPOA.

Mr. Digweed wrote: ↑Wed Jan 04, 2023 3:42 pm Currently have a Roth IRA. I will be 70 by the end of this month.
I do not plan to (or need to) withdraw from the Roth IRA unless it is required by law.
What are the reasons to continue with annual contributions?

If I had earned income that I didn't need to live on and intended to put into savings, I would most certainly put it into my Roth account. Why not?!? Tax-free earnings are great to have.

Being both healthcare and financial POA can be a heavy load for one person especially if the parent’s needs are high. If your other two children are responsible, trust worthy and all get along well, have you considered naming the other two as successors (in case child #1 needs help) or to allow them all to act severally as needed? Perhaps this will also be a system of checks-and-balances. Or you could also name the others as "trust protectors." I have my trust set up with my nephew as my successor trustee and my two local friends (a couple) as trust protectors with the option for them to switch roles if my nephew is not in a stage of his life where he can take on the primary role. So, if I am incapacitated, they are there to help...

Being both healthcare and financial POA can be a heavy load for one person especially if the parent’s needs are high. If your other two children are responsible, trust worthy and all get along well, have you considered naming the other two as successors (in case child #1 needs help) or to allow them all to act severally as needed? Perhaps this will also be a system of checks-and-balances. Or you could also name the others as "trust protectors." I have my trust set up with my nephew as my successor trustee and my two local friends (a couple) as trust protectors with the option for them to switch roles if my nephew is not in a stage of his life where he can take on the primary role. So, if I am incapacitated, they are there to help...

Happy New Year! What are your thoughts regarding the clause quoted below from my attorney's email? I am updating my will/POA/healthcare POA after the death of my husband. My son, age 26, will be named executor for the estate and POA. My 3 kids are equal beneficiaries of the estate. The kids are also beneficiaries of any account/life insurance that I can designate beneficiaries. With this clause my son could potential change these plans. Does this give him needed ability to make changes due to unforeseeable circumstances or a scary right to disinherit his sisters? "Article III, Paragraphs M and N – please note that the Durable Power of Attorney allows your Agent to make or change beneficiary designations of your insurance policies or r...

When I was preparing to move my non-retirement account with Vanguard into a trust, I sent a message with my questions and someone sent me instructions in writing. So that was good. Problem was that when I started filling out the forms online -- to create a new account in the name of the trust to receive the funds from the existing account -- I found the directions on the form to be confusing. So I called. I was on hold for HOURS. MANY HOURS. During this time, the online form kept instructing me to call the same number I was on hold with if I had any questions. :x :x :x Slogged on and finally got the form filled out -- as well as I could -- and it was past 7PM Pacific time when someone from Vanguard picked up. He reviewed my questions and it...

Before Covid, I was using the nearby locker pretty routinely for my infrequent purchases. First time was just as a snowstorm was about to hit and I was able to walk <1/4 mile to pick up my item from "Fran." Not all purchases can be shipped to a locker. Depends on the seller. (And as a Vine member who gets free products to review, I need to get those orders delivered to my house.) The suggested locker could be many, many miles away, so best to figure out where the most convenient one it before placing the order. Years in now and Amazon continues to suggest I drive clear downtown and find a (paid) parking spot to use a locker instead of noting the one within easy walking distance. You have three days from notification to pick up you...

When I last looked a couple of years ago, the cost of the VSP vision coverage was similar to what I pay through my former employer, under $7/mo. Have never investigated the hearing coverage. I get dental care from my long-time dentist using his "loyalty program." I pay an annual fee that covers three cleanings a year plus exam and x-rays and a discount on other services. Discount will come in handy as I get an implant done. Ahh, ok. For us, dental is the most valuable part of the package (Costco glasses are cheap and no need for hearing aides). I wish our dentist offered a loyalty/discount program; we’ve been seeing him for many years while insured, but hate to think of the higher rates we’ll incur once COBRA dental ends. Have yo...

My husband is turning 65 soon and is opting for Traditional (A&B) Medicare as well as a Medigap/Supplement Plan G from Blue Cross Blue Shield of Michigan (BCBSM); I was surprised to see that BCBSM is offering him a "Dental Vision Hearing Package" as an add on to the Supplement - I thought this sort of extra benefit was only part of Medicare Advantage plans? It looks like a decent deal: $15.25/mo for $1,500 max of "limited" dental coverage (100% cleanings; 50% crowns/fillings; xrays every other year; no implants) and our current dentist is considered in network at one his offices. It also covers a vision exam and glasses once per year, as well as hearing benefits which my husband doesn't need (yet). Maybe this is jus...

My husband is turning 65 soon and is opting for Traditional (A&B) Medicare as well as a Medigap/Supplement Plan G from Blue Cross Blue Shield of Michigan (BCBSM); I was surprised to see that BCBSM is offering him a "Dental Vision Hearing Package" as an add on to the Supplement - I thought this sort of extra benefit was only part of Medicare Advantage plans? It looks like a decent deal: $15.25/mo for $1,500 max of "limited" dental coverage (100% cleanings; 50% crowns/fillings; xrays every other year; no implants) and our current dentist is considered in network at one his offices. It also covers a vision exam and glasses once per year, as well as hearing benefits which my husband doesn't need (yet). Maybe this is jus...