Search found 604 matches

by my name
Thu Jan 21, 2021 10:24 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R tax form for wrong state
Replies: 4
Views: 229

Re: 1099-R tax form for wrong state

Thanks, everyone.
by my name
Thu Jan 21, 2021 9:50 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R tax form for wrong state
Replies: 4
Views: 229

Re: 1099-R tax form for wrong state

Thanks, makes sense it is too small for NJ to deal with.
by my name
Thu Jan 21, 2021 9:40 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R tax form for wrong state
Replies: 4
Views: 229

1099-R tax form for wrong state

My 1099-R tax form for pension is wrong. I moved from NJ to PA in 2019. Apparently I let the brokerage know in January 2020. So I now have one tax form for NJ and one for my new state PA. This is Fidelity and the person answering their phone says they make no correction to tax forms unless it is the...
by my name
Sat Jan 02, 2021 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

Still did not work for me, tried different browser as well. (shift + Ctrl) + r or Ctrl + F5 Can you make a post in this thread? https://www.bogleheads.org/forum/viewtopic.php?t=251065&view=unread#unread To look into the issue, I would need to know the inputs used. (Using the link under the subm...
by my name
Sat Jan 02, 2021 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

This is very well said. I agree with all points. For my DW and I (she is 2 years younger than me with a PIA that is 25% of mine), our plan is to have my DW claim at her full retirement age of 67 (based upon her own work record) with me deferring to age 70. When I do begin to collect my benefit, my ...
by my name
Sat Jan 02, 2021 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

This is very well said. I agree with all points. For my DW and I (she is 2 years younger than me with a PIA that is 25% of mine), our plan is to have my DW claim at her full retirement age of 67 (based upon her own work record) with me deferring to age 70. When I do begin to collect my benefit, my ...
by my name
Sat Jan 02, 2021 2:13 pm
Forum: Personal Investments
Topic: When I win the lottery tonight
Replies: 10
Views: 708

Re: When I win the lottery tonight

H-Town wrote: Sat Jan 02, 2021 2:10 pm Sir, I have a bridge I want to sell to you.
I've been warned about people like you. Serious ideas only, please. But if it is the Brooklyn Bridge ....
by my name
Sat Jan 02, 2021 2:10 pm
Forum: Personal Investments
Topic: When I win the lottery tonight
Replies: 10
Views: 708

Re: When I win the lottery tonight

I would be sure that, if you have heirs, be sure that you documented that they paid for half the ticket. Of course they did, right? This way you can give them what is rightfully theirs without having to have them inherit it with the big tax consequence. :beer Oh. Do you have a way for me to do some...
by my name
Sat Jan 02, 2021 2:08 pm
Forum: Personal Investments
Topic: When I win the lottery tonight
Replies: 10
Views: 708

Re: When I win the lottery tonight

Go out and treat yourself to something nice. Like a 2022 Toyota Corolla. This is right on the money! I now have a 2005 Toyota Corolla and a whopping 53,000 miles. I have started to think about what my next car will be. But then, I'll be able to buy anything I want tomorrow (or Wednesday), so maybe ...
by my name
Sat Jan 02, 2021 2:04 pm
Forum: Personal Investments
Topic: When I win the lottery tonight
Replies: 10
Views: 708

Re: When I win the lottery tonight

Normchad wrote: Sat Jan 02, 2021 1:51 pm I’ll be happy to take a 1% AUM fee for this bomb diggety advice.
Thank you. You have improved my vocabulary! I had to look that one up. Google has everything. (How I wish I had invested that spare $50K I had in the late 1990's when Google went public.)
by my name
Sat Jan 02, 2021 1:48 pm
Forum: Personal Investments
Topic: When I win the lottery tonight
Replies: 10
Views: 708

When I win the lottery tonight

Tonight's Powerball drawing jackpot is now $384 million. Tuesday's Mega Millions drawing jackpot is now $432. I'm pretty sure I'll win both. What do you recommend I do with my winnings? When I drive up to Harrisburg to claim my prize(s), I imagine they will hand me a check, or more likely a form tha...
by my name
Wed Dec 30, 2020 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

Is there a simple answer for how many years you have to live (single) so that you actually breakeven on taking SS later? Assuming historical yields etc. Some of us who have other income to support us until age 70, and have a probability of living a long life, choose to delay SS to maximize the life...
by my name
Tue Dec 29, 2020 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

This is the way to decide on social security benefits. "If you can afford to wait, wait." An 8% increase in your guaranteed annuity benefit every year is hard to beat. I agree. And it is better than that. SS is a guaranteed inflation-adjusted annuity from the U.S. government. So besides t...
by my name
Mon Dec 28, 2020 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Wait until 70 to take social security?
Replies: 161
Views: 15969

Re: Wait until 70 to take social security?

Like some above. Single. Waited until 70 to maximize the benefit, receive about the most that SS will pay. (Some refer to it as maxing the max). I think of it as insurance in case I live (longevity insurance). Turns out that SS and a very small pension cover my bills and day-to-day living expenses. ...
by my name
Sat Dec 26, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Re-Thinking Rewards Checking Accounts
Replies: 47
Views: 3395

Re: Re-Thinking Rewards Checking Accounts

... this large balance might be exposed to debit card fraud or errors. Accordingly, I would suggest that this setup should be considered only if you can put a fairly low limit on the size of the debit card transactions. It is one thing to try to get back $100 transferred fraudulently and quite anot...
by my name
Sat Dec 26, 2020 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Re-Thinking Rewards Checking Accounts
Replies: 47
Views: 3395

Re: Re-Thinking Rewards Checking Accounts

The reward checking accounts were great during the years of the great recession. The regional banks needed cash. When brokerage MM accounts were paying nothing, the banks were paying 4% interest on up to $25,000. It was great for money you needed to or wanted to keep in cash, and insured. I had an a...
by my name
Sat Dec 26, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act and IRMAA reduction
Replies: 9
Views: 736

Re: CARES Act and IRMAA reduction

Before year end, make a Roth conversion to bring your income just under the IRMAA threshold? Just realize that anything over $150k, if MFJ, may reduce any stimulus adjustment. Roth is a great play for many. I recently got Turbo Tax 2020, and used it this morning. I was relieved to see my numbers pl...
by my name
Fri Dec 25, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act and IRMAA reduction
Replies: 9
Views: 736

Re: CARES Act and IRMAA reduction

Thanks, all, very informative and helpful. Sounds like it'll just play out over time.
by my name
Fri Dec 25, 2020 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act and IRMAA reduction
Replies: 9
Views: 736

Re: CARES Act and IRMAA reduction

neilpilot wrote: Fri Dec 25, 2020 8:34 pm Isn't 2021 IRMAA dependent on TY2019 income? The lack of RMD may provide relief for your 2022 IRMAA.
Thanks, that seems what I am reading. Wondering if anyone has any other insight given this year (or two maybe?) where RMDs are not required.
by my name
Fri Dec 25, 2020 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act and IRMAA reduction
Replies: 9
Views: 736

CARES Act and IRMAA reduction

I received a letter from the SSA that showed I have large surcharges for IRMAA Medicare premiums B and Part D that are taken from my SS monthly deposit in 2021. However, because of the CARES act, I am not taking an RMD this year. For this reason, my income for 2020 dropped to the point I should have...
by my name
Thu Dec 03, 2020 12:17 pm
Forum: Personal Investments
Topic: Is there any advantage to using wealth management or private banking?
Replies: 33
Views: 3307

Re: Is there any advantage to using wealth management or private banking?

What professionals would you use to set up and trust with doing bill pay, taxes, etc. if you should become incapacitated and without trusted and/or available relatives /friends? Is it the (non-solo) practice with estate attorney and CPA/accountant? I know some set up with a bank's financial arm to p...
by my name
Thu Dec 03, 2020 11:59 am
Forum: Personal Investments
Topic: Where to put "mad money"?
Replies: 31
Views: 2357

Re: Where to put "mad money"?

I left some "mad money" of IBM company stock alone after retirement. Hoped it would do a "Microsoft". Still waiting. Then, I recall when Google went public and it seemed to be the successful "search" company after the failure of Alta Vista (with DEC) in the 1990's (&quo...
by my name
Thu Jun 25, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pennsylvania estimated taxes
Replies: 2
Views: 292

Re: Pennsylvania estimated taxes

Thanks, Mike. This document is quite clear. Fortunately, no retirement type income is taxed in PA. I just face interest and dividend income from non-retirement accounts. And that is summed up by my brokerages quarterly with most at year end. On the other hand, PA has no deductions or credits (very f...
by my name
Thu Jun 25, 2020 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Pennsylvania estimated taxes
Replies: 2
Views: 292

Pennsylvania estimated taxes

In Pennsylvania, what is the estimated tax based on? Is it like federal in that you can pay based on last year's tax paid? Last year I moved to PA in November so paid $2 in tax. Or do I have to figure out the new year's income for estimating tax? I find no real clarity of PA's safe harbor for estima...
by my name
Mon May 18, 2020 2:05 pm
Forum: Investing - Theory, News & General
Topic: Social Security is an asset....yet again
Replies: 129
Views: 5951

Re: Social Security is an asset....yet again

I think of SS as insurance, in case I live, and waited until age 70 to collect with the biggest possible monthly checks. Now 72, I am very happy to have "maxed out" SS. (Sadly, along with RMD, pension and such, the SS takes the max 85% federal tax hit). My spreadsheet includes SS in my AA ...
by my name
Mon May 18, 2020 1:44 pm
Forum: Personal Investments
Topic: Retiring fairly young with a govt pension and trying to put together a plan
Replies: 37
Views: 4876

Re: Retiring fairly young with a govt pension and trying to put together a plan

Your $100,000 pension looks great at age 50. It won't at age 70. The $60,000 in annual fixed expenses will increase each year. And the pension will never increase. Assume in 20 years your annual expenses almost double growing to $108.367. This is based on a small 3% rate of inflation. But the costs ...
by my name
Sun May 17, 2020 2:17 pm
Forum: Personal Investments
Topic: Municipal bonds - concerns?
Replies: 31
Views: 2789

Re: Municipal bonds - concerns?

Like you, I do not know enough about bonds, so stick with funds as recommended above. I found great success with Vanguard's state tax-exempt muni funds. These states have had their fiscal challenges so their muni funds have performed really well, often outperforming taxable bond funds (before tax co...
by my name
Sun May 17, 2020 1:44 pm
Forum: Personal Investments
Topic: Still using total bond market?
Replies: 172
Views: 24006

Re: Still using total bond market?

I retired in 2009 and no longer add money to funds. It is more about holding on to what I have. Like some above, I put my IRA bond portion into Vanguard Intermediate-term Bond Index Fund (VBILX). It had been historically outperforming the TBM and overtime seemed as safe. I also have some bonds via V...
by my name
Sat Feb 29, 2020 1:37 pm
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

retired@50 wrote: Sat Feb 29, 2020 1:34 pm True, but there won't be any trading until Monday either. You can probably call them prior to market opening on Monday and get things sorted.
Good points, Retired@50. Thanks.
by my name
Sat Feb 29, 2020 1:30 pm
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

You You You And you So you Ah, I never said Vanguard did anything to cause the problem. Actually, it is what they don't do. They don't have help over the weekend leaving customers locked out of their accounts all weekend (regardless of who did the "action" that caused the problem). Bad cu...
by my name
Sat Feb 29, 2020 1:11 pm
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

I vaguely remember having this same problem with a new laptop. I think you'll need to call them up. Then change the setting when you get in. Yes, a Monday phone call. In the past this happened and I was able to resolve this over the phone with the voice verification. It is just there is no help ove...
by my name
Sat Feb 29, 2020 1:07 pm
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

Restore the cookies from backup. If not, Call Vanguard Monday and set up your voice as your password. The voice recognition can be handy if your computer is giving you trouble in the future. Regards, No back-up, so yes, it looks like a Monday phone call. I do have voice recognition, and that does n...
by my name
Sat Feb 29, 2020 11:39 am
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

When it doesn't recognize your computer, it usually asks you security questions or wants to send you a code by voice or text message. What exactly is it doing? You might also try the app if you have a smartphone. See this similar thread: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=3039...
by my name
Sat Feb 29, 2020 11:13 am
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Re: Can't log on to Vanguard website

HueyLD wrote: Sat Feb 29, 2020 11:03 am I accessed Vanguard site this morning using both Safari and Win 10. No problem whatsoever.
Huey, it has to do with a setting I have - to recognize the computer.
by my name
Sat Feb 29, 2020 10:47 am
Forum: Personal Investments
Topic: Can't log on to Vanguard website
Replies: 23
Views: 1304

Can't log on to Vanguard website

Can you help? I had browser cookies, etc., cleared by support when I had computer issues. Now I can't log on to the Vanguard website as it does not recognize my computer. There seems no live help all weekend so I can't access my accounts until Monday. This is really horrible customer service. I can'...
by my name
Mon Jul 01, 2019 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Moving to new state, effect on tax free state fund
Replies: 4
Views: 394

Moving to new state, effect on tax free state fund

I have Vanguard's NJ tax free muni fund VNJUX. For this example let's say it is $100,000. I want to sell it and buy the same fund but in a different state PA. How will this effect my taxes? Sorry if this is simplistic, I just want to be more sure before I jump off the deep end. The numbers at Vangua...
by my name
Sat May 18, 2019 6:21 pm
Forum: Personal Investments
Topic: Moving and tax free funds
Replies: 2
Views: 305

Re: Moving and tax free funds

Thank you !
by my name
Sat May 18, 2019 8:09 am
Forum: Personal Investments
Topic: RMD taxes
Replies: 9
Views: 971

Re: RMD taxes

Is this just your normal RMD or did you take out extra? Or 2 RMDs in one year? If just normal, situation will only get worse in future years. Do you have cash available to convert to Roth IRA(s)? All I can think of. Carl W. It is one normal RMD. I do it late in year and take out full estimated taxe...
by my name
Sat May 18, 2019 7:16 am
Forum: Personal Investments
Topic: RMD taxes
Replies: 9
Views: 971

Re: RMD taxes

Are you saying that the tax free munis on withdrawal become taxable because they are part of the IRA total? And the interest is taxed now as ordinary income? Yes. If you have munis in an IRA, whenever you withdraw from them, you are taxed on the full withdrawal, regardless of whether it is what you...
by my name
Sat May 18, 2019 6:15 am
Forum: Personal Investments
Topic: RMD taxes
Replies: 9
Views: 971

Re: RMD taxes

No. Your RMD taxes are calculated on the total amount of your RMD withdrawal, regardless of the funds you take the withdrawal from. Munis are more helpful when held with other non-retirement funds. Are you saying that the tax free munis on withdrawal become taxable because they are part of the IRA ...
by my name
Sat May 18, 2019 5:55 am
Forum: Personal Investments
Topic: Moving and tax free funds
Replies: 2
Views: 305

Moving and tax free funds

I am considering moving from NJ to PA. Is the following a good strategy. Sell Vanguard's NJ tax free muni fund while still living in NJ. Buy Vanguard's PA tax free muni fund when I am in PA.
by my name
Sat May 18, 2019 5:52 am
Forum: Personal Investments
Topic: RMD taxes
Replies: 9
Views: 971

RMD taxes

I have an RMD withdrawal and a big tax hit. Is there any advantage to exchanging some IRA funds for tax free muni funds?
by my name
Wed Jan 16, 2019 7:18 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 63133

RIP Mr. Bogle

I owe my financial health and success to you. Thank you for everything.
by my name
Wed Jan 16, 2019 1:02 pm
Forum: Personal Investments
Topic: Retirees: Timing your withdrawals
Replies: 45
Views: 5217

Re: Retirees: Timing your withdrawals

Once at the end of the year works for me. That way money stays invested tax advantaged for the year. The best part is you can have your entire tax for the year deducted from this end of the year payment so your tax also stays invested for the year. Tax deducted with this method is considered as pay...
by my name
Wed Jan 16, 2019 12:46 pm
Forum: Personal Investments
Topic: Retirees: Timing your withdrawals
Replies: 45
Views: 5217

Re: Retirees: Timing your withdrawals

My wife/me are fortunate to have multiple sources of retirement income which cover all our budgeted expenses. We do not pay FIT on any of the monthly payments (SS, pensions, SPIA). In early January, we each take our calculated RMD's, using a portion of the withdrawals to pay our respective forecast...
by my name
Wed Jan 16, 2019 11:50 am
Forum: Personal Investments
Topic: RMD & dividends
Replies: 7
Views: 566

Re: RMD & dividends

livesoft wrote: Wed Jan 16, 2019 11:38 am
my name wrote: Wed Jan 16, 2019 11:33 amAm I missing anything?
You might die before you take your RMD, so make sure your beneficiaries know what to do.
Thank you, once again. :D
by my name
Wed Jan 16, 2019 11:46 am
Forum: Personal Investments
Topic: IRMAA/Beginning SS
Replies: 18
Views: 1531

Re: IRMAA/Beginning SS

neilpilot wrote: Wed Jan 16, 2019 11:20 am … why pay it if you can justify a successful appeal?
I agree, there are times when this makes perfect sense, like the example above.
by my name
Wed Jan 16, 2019 11:33 am
Forum: Personal Investments
Topic: RMD & dividends
Replies: 7
Views: 566

Re: RMD & dividends

I take out my RMD in January which is well before the December distributions. I'm considering using my RMD to pay all tax due based on last year's tax (to avoid penalty). The convenience factor is key for me, no withholding or estimated taxes. The income sources are pretty much the same year to yea...