Search found 1823 matches

by LeeMKE
Wed Jun 12, 2019 3:42 am
Forum: Personal Consumer Issues
Topic: Amazon Smile donations to John Bogle Foundation [and other charities]
Replies: 11
Views: 1107

Amazon Smile donations to John Bogle Foundation [and other charities]

This just in from Amazon: This is your quarterly AmazonSmile donation notification. Your charity, John C Bogle Center for Financial Literacy, recently received a quarterly donation of $106.06 thanks to customers shopping at smile.amazon.com. To date, AmazonSmile has donated a total of: $1,336.58 to ...
by LeeMKE
Mon Jun 10, 2019 3:24 am
Forum: Personal Investments
Topic: Investment Annual Physical!
Replies: 7
Views: 1991

Re: Investment Annual Physical!

4. Yes, use up tax deferred first, and every year. These are use it or lose it. I always fill that space before any taxable contributions. . . Just in case.
by LeeMKE
Mon May 27, 2019 3:55 pm
Forum: Personal Investments
Topic: Investment Annual Physical!
Replies: 7
Views: 1991

Re: Investment Annual Physical!

I'll start out with a couple observations: Yes, I would change from Oakmark (which I had at one time) to another lower cost index fund. Your other choices look good. But I would suggest you consider increasing your emergency fund. It looks like each of you work, so if true, a layoff might only affec...
by LeeMKE
Sat May 25, 2019 2:05 am
Forum: Personal Investments
Topic: Question about solo 401k
Replies: 13
Views: 805

Re: Question about solo 401k

+1 Spirit Rider
by LeeMKE
Fri May 24, 2019 5:47 pm
Forum: Personal Investments
Topic: Question about solo 401k
Replies: 13
Views: 805

Re: Question about solo 401k

In my limited experience (3 megacorp 401Ks) fees are increased whenever possible for ex-employees. In one case the fees were raised for everyone, in two cases the fees seemed to almost double as soon as I left. In all 3 cases I rolled over to IRA so I could control costs. I use Fidelity Solo 401Ks a...
by LeeMKE
Sat May 11, 2019 4:50 pm
Forum: Personal Investments
Topic: Timing of Roth Conversion
Replies: 7
Views: 831

Re: Timing of Roth Conversion

You can do what I'm doing. I asked the same question earlier this year. I have a large conversion scheduled this year, and am/was concerned about getting the timing wrong and suffering regret. I ended up deciding to DCA most of the conversion, and on a downturn a couple months ago, converted a lump ...
by LeeMKE
Thu May 09, 2019 3:20 pm
Forum: Personal Investments
Topic: I Don't See Great Benefits to ROTH Conversion for Us. Help Me
Replies: 52
Views: 5802

Re: I Don't See Great Benefits to ROTH Conversion for Us. Help Me

+1
Have you looked at i-ORP to game out your conversion strategy? It's quite useful in this regard. (And don't discount the taxes that a single filer will pay when one member of a couple dies. This can be a significant jump.)
by LeeMKE
Thu May 09, 2019 2:27 pm
Forum: Personal Investments
Topic: 56 Retired, Just Widowed, Need $$ Overhaul Assistance Please
Replies: 18
Views: 3932

Re: 56 Retired, Just Widowed, Need $$ Overhaul Assistance Please

Questions: Are you working now? If so, how much will you spend toward monthly expenses, and how much will you be saving? How do you save between now and retirement? (IRA, 457b, taxable) When will you retire and begin withdrawing from your portfolio? It looks like you are probably going to be fine. Y...
by LeeMKE
Fri May 03, 2019 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Empty nester downsizing - success!!!
Replies: 102
Views: 13719

Re: Empty nester downsizing - any advice?

:)
One option I am willing to pay for is an apartment building/condo with rental units for overnight guests.
by LeeMKE
Fri May 03, 2019 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Empty nester downsizing - success!!!
Replies: 102
Views: 13719

Re: Empty nester downsizing - any advice?

Netflix has a TV show that is perfect for us on this thread: Tidying up with Marie Kondo. Start with the first episode, and then watch a show when you are losing the motivation to keep going.
by LeeMKE
Thu May 02, 2019 3:06 am
Forum: Personal Finance (Not Investing)
Topic: Empty nester downsizing - success!!!
Replies: 102
Views: 13719

Re: Empty nester downsizing - any advice?

+1 I know for sure that I would get on my wife's nerves and she on mine in no time if we were stuck in a small place post retirement. Downsizing never made sense to me for that reason (unless it's just a financial necessity, so no choice). Also, why would you live in a less nice and spacious place ...
by LeeMKE
Sun Apr 28, 2019 1:05 pm
Forum: Personal Investments
Topic: Solo 401K to Rollover IRA?
Replies: 8
Views: 401

Re: Solo 401K to Rollover IRA?

I'm not saying you can't do what you want, just that you could keep the one-participant 401k for any supplemental self-employment income. A little goes a long way including the self-employed health insurance deduction. This may be valuable to us. I am keeping one business open for the time being. T...
by LeeMKE
Sun Apr 28, 2019 12:43 pm
Forum: Personal Investments
Topic: pay down mortgage vs. invest in taxable?
Replies: 30
Views: 3066

Re: pay down mortgage vs. invest in taxable?

For example, the OP is considering paying down a 26-year mortgage at 3.75%. If he pays $1000, he will eliminate $2604 from the last year's payment. This is a 160% gross return. But the IRR is also 3.75%. If he instead made a 26-year investment with a 3.75% return, $1000 there would also grow to $26...
by LeeMKE
Sun Apr 28, 2019 5:29 am
Forum: Personal Investments
Topic: Solo 401K to Rollover IRA?
Replies: 8
Views: 401

Solo 401K to Rollover IRA?

DH and I have both tIRA and Solo 401Ks. We are both retired, so no contributions to either are being made. Only withdrawing from tIRAs so far. Seems to me, I could simplify things by closing the Solo 401Ks and rolling their contents over to the tIRAs. PRO: It seems easier to w/d from tIRA, though I ...
by LeeMKE
Sun Apr 28, 2019 5:04 am
Forum: Personal Investments
Topic: pay down mortgage vs. invest in taxable?
Replies: 30
Views: 3066

Re: pay down mortgage vs. invest in taxable?

I'm in the camp to pre-pay the mortgage. Here's how I analyze mortgage pre-payment: The difference between the interest you pay with each monthly payment, and the interest you will pay with each subsequent payment AFTER a principal reduction COMPOUNDS each month by your next payment reducing princip...
by LeeMKE
Sat Apr 27, 2019 3:55 am
Forum: Personal Finance (Not Investing)
Topic: Is This Typical SSA Screw-up, or Cause for Alarm?
Replies: 22
Views: 2529

Re: Is This Typical SSA Screw-up, or Cause for Alarm?

No, I base this on the fact that I was called to appear at a Social Security office for an ID check the first day of the shutdown. Front offices were open, but no processing was going on for new applications. They were only handling front office data collection and emergency failures to deposit fund...
by LeeMKE
Thu Apr 25, 2019 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Is This Typical SSA Screw-up, or Cause for Alarm?
Replies: 22
Views: 2529

Re: Is This Typical SSA Screw-up, or Cause for Alarm?

Bear in mind that SSA is just now working through the backlog from the month long shut down. I applied 8Nov18 for benefits to start 1Jan19. My application was approved yesterday. Call/go in to be sure the file is still moving in the system. In my case, it got diverted twice onto the wrong desk, so m...
by LeeMKE
Sun Apr 14, 2019 8:17 am
Forum: Personal Investments
Topic: ORP says I should stop all pre-tax contribs
Replies: 75
Views: 6026

Re: ORP says I should stop all pre-tax contribs

I'm using a combination of Flexible Retirement Planner and i-ORP. FRP is a Monte Carlo simulator and it allows you to set retirement expenses, so that plus i-ORP's features on conversions is fairly useful. Me too. I’m using 3 tools each year for the first 7-10 years of retirement: I-ORP : especiall...
by LeeMKE
Sat Apr 13, 2019 11:00 am
Forum: Personal Investments
Topic: ORP says I should stop all pre-tax contribs
Replies: 75
Views: 6026

Re: ORP says I should stop all pre-tax contribs

I have to figure out whether to do any more Roth conversions.As single person,I got one in last year before turning 70, Maybe, but probably not. This is why it is so important to run I-ORP while still in your 50s. You need time to make Roth conversions without raising your tax rate too much. From m...
by LeeMKE
Sat Apr 13, 2019 9:44 am
Forum: Personal Investments
Topic: ORP says I should stop all pre-tax contribs
Replies: 75
Views: 6026

Re: ORP says I should stop all pre-tax contribs

+1 dknightd
Edit: Likely i-orp is suggesting you put money into after tax so your heirs can take advantage of the increased basis they will see.
I don't know this for sure, but it sounds likely to me.
by LeeMKE
Sat Apr 13, 2019 9:12 am
Forum: Personal Investments
Topic: ORP says I should stop all pre-tax contribs
Replies: 75
Views: 6026

Re: ORP says I should stop all pre-tax contribs

In the years when ORP recommends Roth conversions (age 58 to 68 or older) my spouse may still be working. Her salary would fill up the lower brackets...almost to the top of 22%, making any significant conversions taxed at 24%. The same bracket we are in now. So, how to account for this? There's no ...
by LeeMKE
Fri Apr 12, 2019 11:01 pm
Forum: Personal Investments
Topic: ORP says I should stop all pre-tax contribs
Replies: 75
Views: 6026

Re: ORP says I should stop all pre-tax contribs

You can communicate with James Walsh by emailing him from the address on the website. He is the best person to look at your actual entries and decipher what is going on. My own educated guess is that I-ORP is trying to moderate the taxes when RMDs force your Social Security into taxable status. I do...
by LeeMKE
Sat Apr 06, 2019 5:16 pm
Forum: Investing - Theory, News & General
Topic: Asset Location: Retirement Researcher article
Replies: 8
Views: 988

Re: Asset Location: Retirement Researcher article

Seems to me, there are actually several issues being called Asset Location: On the Bogleheads wiki, they use the term to discuss how to withdraw from the portfolio (tax loss harvesting, sequence of withdrawals - taxable, IRA, then Roth, etc.) Kitces uses the term to refer to which asset goes in whic...
by LeeMKE
Sat Apr 06, 2019 1:19 pm
Forum: Investing - Theory, News & General
Topic: Asset Location: Retirement Researcher article
Replies: 8
Views: 988

Re: Asset Location: Retirement Researcher article

That’s a good article, but doesn’t touch on balancing the location of assets to manage the tax burden at withdrawal. When we are 100% index funds, there’s not much help from tax loss harvesting or creating a taxable account.
by LeeMKE
Sat Apr 06, 2019 11:05 am
Forum: Investing - Theory, News & General
Topic: Asset Location: Retirement Researcher article
Replies: 8
Views: 988

Asset Location: Retirement Researcher article

Concise discussion of Asset Location: https://retirementresearcher.com/art-asset-location-2/ DIY tool to get advice on your own Asset Location: EXTENDED ORP: Retirement Planning for Nerds https://www.i-orp.com/bequest/extended.html I knew this is important in my own case. I was seriously overbalance...
by LeeMKE
Thu Apr 04, 2019 1:12 pm
Forum: Personal Investments
Topic: Asset Allocation help
Replies: 9
Views: 564

Re: Asset Allocation help

I think your choice is a great one. Target Date fund for 401k, FZROX for Roth IRA, and FZILX for HSA. This combination has all your bonds within 401k plan, the higher amount of money outside of 401k working for you in Domestic Equities (rIRA) and the smaller money pot for your international exposur...
by LeeMKE
Wed Apr 03, 2019 9:19 pm
Forum: Personal Investments
Topic: Asset Allocation help
Replies: 9
Views: 564

Re: Asset Allocation help

You don't tell us the amount you have in each account I'll assume you, or readers coming along, are a new investor, with smallish accounts right now. Starting out, you want to use the lowest cost funds, and you may not be able to get the lowest cost funds if you slice and dice into small amounts in ...
by LeeMKE
Sun Mar 24, 2019 12:18 pm
Forum: Personal Investments
Topic: New tax plan-62 year old convert to Roth before RMD?
Replies: 34
Views: 3776

Re: New tax plan-62 year old convert to Roth before RMD?

I’m experiencing some of the same things as Danielle896. There is light at the end of the tunnel. While I was obsessed for several years, I’m nearing the end of my tIRA conversions as per I-ORP and all other tools are starting to tell me the same as I-ORP predicted: my taxes will be significantly sm...
by LeeMKE
Fri Mar 22, 2019 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Need Foreign Currency
Replies: 25
Views: 1304

Re: Need Foreign Currency

We are global nomads now and here's what we do: At the departing airport (your home) I exchange our leftover change to the destination currency. Just enough for tips and a taxi ride. At the destination, I find an ATM and withdraw some cash in local currency for spending money. There is a daily limit...
by LeeMKE
Wed Mar 13, 2019 10:19 pm
Forum: Personal Investments
Topic: Roth rollovers post retirement - or not?
Replies: 16
Views: 1409

Re: Roth rollovers post retirement - or not?

I use I-ORP.com (extended calculator) for this problem. I'm following the schedule from I-ORP to do our tIRA to ROTH conversions. So far, so good. For us, it makes a big difference in our tax rates later in retirement. (12%/15% rather than a bumpy ride that included several years at 34%) The Retiree...
by LeeMKE
Mon Mar 04, 2019 8:26 pm
Forum: Personal Investments
Topic: Roth IRA for Minor - Delaying Change of Ownership
Replies: 26
Views: 1281

Re: Roth IRA for Minor - Delaying Change of Ownership

DH did the right things, being upfront with his kids and offering to double all contributions they made to their own account. Neither of the kids are big trouble, but they both emptied their accounts at 18 + 5-10 days. FWIW Me, I'd keep my mouth shut. What they don't know won't hurt them. Unless you...
by LeeMKE
Sun Mar 03, 2019 10:11 am
Forum: Personal Investments
Topic: Withdrawals: Solo 401K or tIRA?
Replies: 4
Views: 296

Re: Withdrawals: Solo 401K or tIRA?

Thanks everyone! In our case, the balances are below $250k, and everything else mentioned is the same for our tIRA accounts. I'll probably dissolve the Solo 401Ks and rollover everything to the tIRA next year when I'm in the Fidelity offices and can execute whatever documents they need to do this. B...
by LeeMKE
Sat Mar 02, 2019 10:07 pm
Forum: Personal Investments
Topic: Withdrawals: Solo 401K or tIRA?
Replies: 4
Views: 296

Withdrawals: Solo 401K or tIRA?

When making withdrawals, does it make any difference between tIRA and Solo 401K? I'm thinking not, but wonder if there is some nugget I should consider.
by LeeMKE
Tue Feb 19, 2019 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term care insurance question: keep or cancel
Replies: 21
Views: 1331

Re: Long-term care insurance question: keep or cancel

+1 Silk McCue

Pay the premium from savings. She, unlike her husband, does not have a partner to cover home care when/if she is less able to deal with daily living tasks. Odds are higher that she'll want/need nursing care for some period beyond 100 days.
by LeeMKE
Sat Feb 16, 2019 9:14 pm
Forum: Personal Investments
Topic: Investment help
Replies: 5
Views: 295

Re: Investment help

I have to assume you are married, and guess that your spouse may/may not be working. We also have no idea how much 40% of ?? may be, so you'll have to parse this advice on your own. 1) Continue maxing your 401K 2) Are there employer contributions available for your wife? If so, fill that account to ...
by LeeMKE
Thu Feb 14, 2019 4:42 pm
Forum: Personal Investments
Topic: Girlfriend's Financial Advisor Recommendations...
Replies: 63
Views: 7781

Re: Girlfriend's Financial Advisor Recommendations...

Crickets

I doubt anyone here uses Clear Bridge, and we'd probably run off anyone thinking that an expense ratio of 1.73% is a good idea.

Best to stay out of the discussion since she wants to stay with an advisor who guides her to funds that pay him well.
by LeeMKE
Tue Feb 12, 2019 10:38 pm
Forum: Personal Investments
Topic: What stress test do you run on your retirement portfolio?
Replies: 39
Views: 2298

Re: What stress test do you run on your retirement portfolio?

The two years before full retirement I ran numbers constantly. I tried every tool mentioned on this site, and tools I found otherwise. I fretted constantly about whether it was enough, and whether we could weather a bad sequence of returns. We seemed to have just barely enough, so a market drop duri...
by LeeMKE
Mon Feb 11, 2019 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tax treatment of loser note?
Replies: 2
Views: 285

Re: Tax treatment of loser note?

Found it:

IRS 550:
Nonbusiness bad debt
I will report a short term loss on form 8949

Found it on Intuit's TurboTax Q&A website, answering the same situation for another person.
by LeeMKE
Mon Feb 11, 2019 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Tax treatment of loser note?
Replies: 2
Views: 285

Tax treatment of loser note?

Last year DH sold a hunk of business stuff on a personal note. It was not reported as an installment sale because it was a loss, sold below cost. I reported it, but on the tax return, the sale was presumed to be fully paid, when in fact payments would be due for at least another year. Well, now the ...
by LeeMKE
Sun Feb 10, 2019 6:50 pm
Forum: Personal Investments
Topic: My portfolio - Beginner, looking for input
Replies: 4
Views: 604

Re: My portfolio - Beginner, looking for input

You are off to a good start! Don't sweat the small stuff. Both the Vanguard and your USC funds are near identical. Use what you have available. Don't worry about the "use the worst first" stuff. You are fully funding all available, and that is the most important at this stage. My next questions are ...
by LeeMKE
Sun Feb 10, 2019 6:33 pm
Forum: Personal Investments
Topic: New portfolio advice
Replies: 8
Views: 479

Re: New portfolio advice

+1 misenplace I noticed right away that your mortgage is jumbo sized, and yet you are planning a second home purchase. 1) If you can't afford the payments on a 15 year note, you can't afford the house IMHO. 2) Second homes are NOT investments. They drop like a bomb during downturns, and hardly edge ...
by LeeMKE
Sat Feb 02, 2019 9:24 pm
Forum: Personal Investments
Topic: rebalance help needed
Replies: 5
Views: 417

Re: rebalance help needed

+1 JBTX
by LeeMKE
Sat Feb 02, 2019 9:12 pm
Forum: Personal Investments
Topic: Seeking Guidance As I Turn 30
Replies: 15
Views: 1371

Re: Seeking Guidance As I Turn 30

+1 Duckie HSA is first missed opportunity. Then, I would throw everything else at your mortgage. Don't worry about whether your partner can do the same. You can work out the equity accumulation with a good calculator anytime you need to. Once you lost the tax deduction, this interest rate became too...
by LeeMKE
Wed Jan 30, 2019 10:18 am
Forum: Personal Investments
Topic: Fidelity solo 401k question
Replies: 15
Views: 638

Re: Fidelity solo 401k question

Unfortunately, you must mail in the checks with the instruction sheet signed. Fidelity does not allow contributions to be delivered online. I am guessing, but their interpretation of IRS regs may be that a live signature from both Admin and Employee is required (which in a Solo 401K is usually the s...
by LeeMKE
Tue Jan 29, 2019 1:23 pm
Forum: Personal Investments
Topic: 401K rollover to an IRA investing in CD Ladders
Replies: 6
Views: 415

Re: 401K rollover to an IRA investing in CD Ladders

You may be where I was a few years ago. I thought the hard part was saving and investing for retirement. Then I discover that setting things up to make your withdrawals during retirement is even more fraught with threats and disasters you need to think about. At first, it was intimidating to me. WHA...
by LeeMKE
Tue Jan 29, 2019 9:52 am
Forum: Personal Investments
Topic: 401K rollover to an IRA investing in CD Ladders
Replies: 6
Views: 415

Re: 401K rollover to an IRA investing in CD Ladders

+1 Friar1610 The usual practice (which I'm doing) is to figure out the period you want protected from market fluctuation, and putting that in a CD ladder to throw income for that period. the rest is exposed to market fluctuation. Since all downturns (so far) have lasted less than 4 years, a CD ladde...
by LeeMKE
Mon Jan 28, 2019 10:29 pm
Forum: Personal Investments
Topic: 401K rollover to an IRA investing in CD Ladders
Replies: 6
Views: 415

Re: 401K rollover to an IRA investing in CD Ladders

Seems a bit extreme, but I agree you should protect your nestegg now that you are retired. You may miss the long expected downturn, and you will likely miss a good deal of the potential upturn by waiting to be certain the market recovery is underway.
by LeeMKE
Sun Jan 27, 2019 11:29 pm
Forum: Personal Investments
Topic: 2019 Portfolio Check In
Replies: 6
Views: 904

Re: 2019 Portfolio Check In

Two ways to calculate this for yourself: Calculate the loan balance after a year or two with current payments, then again with proposed additional pre-payments. You should see a larger balance reduction than just 4.35% return on your proposed pre-payments. For every dollar you prepay, that dollar is...
by LeeMKE
Sun Jan 27, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: No Children, what will your legacy be?
Replies: 118
Views: 8987

Re: No Children, what will your legacy be?

No children and no family needing financial assistance. My plan is to leave whatever estate remains to charity. However, I have no idea how much might be left. I know most of the charities I support now would be fine with small donations from a small estate. But there is the possibility that I might...