Search found 1292 matches

by Longdog
Mon Jun 24, 2019 12:38 pm
Forum: Personal Consumer Issues
Topic: citi discontinuing citi price rewind
Replies: 21
Views: 1495

Re: citi discontinuing citi price rewind

No doubt it's a great a perk but I've never had to use it. I didn't sign up the card for this benefit and this benefit wouldn't have been a strong motivator for me to sign up for this card or the other. So at least for me, this was the right decision on Citi's part. Now if they can somehow increase...
by Longdog
Wed Jun 19, 2019 5:43 am
Forum: Personal Consumer Issues
Topic: Verizon to Xfinity Mobile for Cell Services
Replies: 13
Views: 868

Re: Verizon to Xfinity Mobile for Cell Services

I switched about two years ago from VZW to Xfinity Mobile and it’s been great. Absolutely no difference in coverage since it uses VZW network, and much less expensive than VZW because I use less than 1GB of data per month. Very satisfied.
by Longdog
Tue Jun 11, 2019 6:32 am
Forum: Personal Investments
Topic: bizarre letter from Vanguard
Replies: 17
Views: 4103

Re: bizarre letter from Vanguard

You need over $50K in Vanguard funds or ETFs. If you have more than that, but it is in mutual funds or ETFs from other companies, individual stocks, individual bonds or CDs, etc., then you would not qualify.

Or... could just be a strange glitch.
by Longdog
Thu Jun 06, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do I adjust capital gains/losses for short term trading fees?
Replies: 10
Views: 535

Re: Do I adjust capital gains/losses for short term trading fees?

They are investment fees, and do not impact your basis. Think of them in the same category as advisor fees and such. They would have been previously deductible (to the extent over 2% of AGI) as investment expense but are no longer Mike I realize that Katietsu's broker is not reporting them as commi...
by Longdog
Wed Jun 05, 2019 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Tax -IRA transfer from Fidelity to Merrill Edge
Replies: 10
Views: 427

Re: Tax -IRA transfer from Fidelity to Merrill Edge

It's income... like a dividend or cap gains on a stock or fund inside your IRA No 1099 (as long as you don't withdraw it) you'll pay tax on the money when you eventually withdraw Does not count against your contribution limits for the year since it isn't a contribution Mike It will eventually be su...
by Longdog
Wed Jun 05, 2019 7:07 pm
Forum: Investing - Theory, News & General
Topic: Brilliant stock picker John Neff, who ran Vanguard’s Windsor Fund and built Penn’s endowment, dies at 87
Replies: 8
Views: 1192

Re: John Neff former manager of Windsor Fund dies at 87

He was one of the folks who inspired me to start my investing "career" in value funds. So sad that someone so brilliant and accomplished succumbed to Alzheimer's. RIP Mr. Neff.
by Longdog
Tue Jun 04, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2274

Re: Social Security deductions after maxing out Social Security benefit?

the max salary of 35 years ago is adjusted upward in the benefits calculation and contributes the same as maxing out the salary this year. Not quite. See the table in this post: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=277289&p=4466735#p4466735 Yeah I thought there might be some noise i...
by Longdog
Tue Jun 04, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2274

Re: Social Security deductions after maxing out Social Security benefit?

Your SS benefit may continue to increase after 35 full years, but it will be slower than if you had zero earnings years in your record. If you make more in the current year than in an old year in your 35-year record, in inflation adjusted terms, the current year earnings bump that old year out of t...
by Longdog
Tue Jun 04, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2274

Re: Social Security deductions after maxing out Social Security benefit?

They will continue to be deducted as they always have been. No benefit to you, but beneficial to others. Another thing to be aware of (but for you its too late to do anything about) is that due to the way social security benefits are calculated, once you reach what is called the "second bend point" ...
by Longdog
Fri May 24, 2019 7:58 am
Forum: Personal Investments
Topic: Best way to backdoor Roth IRA
Replies: 37
Views: 2855

Re: Best way to backdoor Roth IRA

I’m planning to do the same thing. I just don’t understand why there is a looks hole or back door, why can’t the law be adjusted to allow direct Roth contribution? As part of tax reform they did explicitly call this procedure out as being allowed, but chose not to eliminate the income limitation on...
by Longdog
Tue May 21, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3459

Re: Payable On Death Account as Will Substitute

This family member does have a will that names the same two people as his sole heirs. He doesn't want to change that. It just seems to me that having the POD account simplifies his intentions, since his Vanguard taxable account is his main financial asset. But there is a will for anything outside t...
by Longdog
Tue May 21, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3459

Re: Payable On Death Account as Will Substitute

I am the original poster: Clarification: This family member does have a will that names the same two people as his sole heirs. He doesn't want to change that. It just seems to me that having the POD account simplifies his intentions, since his Vanguard taxable account is his main financial asset. B...
by Longdog
Mon May 20, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: What can a $120K spending budget do in early retirement years?
Replies: 22
Views: 3649

Re: What can a $120K spending budget do in early retirement years?

I don't think people make a conscious decision to do One More Year. I think it's more out of fear of not having enough to support their current lifestyle in a worst case scenario, or not having something specific that they are driven to do once they retire. In my opinion, you are unique in consideri...
by Longdog
Wed May 15, 2019 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: I accidentally retired, and need tax advice
Replies: 48
Views: 6278

Re: I accidentally retired, and need tax advice

I think you really need to have a good handle on your expenses to make the best decision for yourself on what to do next, how to allocate your portfolio, whether to get another job, etc.
by Longdog
Wed May 15, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: I accidentally retired, and need tax advice
Replies: 48
Views: 6278

Re: I accidentally retired, and need tax advice

IngognitoUSA wrote:
Tue May 14, 2019 6:49 pm
triggertreat wrote:
Tue May 14, 2019 6:38 pm
Go back to work? What do you mean accidentally retired?
I have heard of getting accidentally pregnant but not accidentally retired.
It's a slightly different process... :happy
by Longdog
Mon May 13, 2019 8:39 pm
Forum: Forum Issues and Administration
Topic: For how long will the forum be around?
Replies: 94
Views: 7242

Re: For how long will the forum be around?

Based on the 4% rule, there is a 92% chance of it lasting my lifetime.
by Longdog
Mon May 06, 2019 6:03 am
Forum: Personal Finance (Not Investing)
Topic: Will vs POD?
Replies: 16
Views: 1903

Re: Will vs POD?

.....If you want to be buried in a nice place make sure you have that planned and sufficient assets in the probate estate to pay for it..... As a general rule, yes, you want to pass assets directly to beneficiaries when advisable, bypass probate, to reduce the size of estate (It is calculated on th...
by Longdog
Sat Apr 27, 2019 7:34 pm
Forum: Personal Investments
Topic: Municipal Bonds in Retirement?
Replies: 8
Views: 1081

Re: Municipal Bonds in Retirement?

Are you comparing muni bonds versus corporate bonds in retirement, or is there a different comparison you have in mind when you ask about munis in retirement? One interesting thing for an early retiree, munis do not interfere with traditional IRA to Roth conversions. So, you could potentially have m...
by Longdog
Sat Apr 27, 2019 7:27 pm
Forum: Personal Consumer Issues
Topic: weber grills
Replies: 34
Views: 2840

Re: weber grills

I have a 14 year old 3 burner Weber Genesis that I love. I've replaced the thermometer on the front panel (less than $10) a wheel (less than $20) and the flavorer bars a few times (about $40 every ~4 years or so). It still works great and offers great control over the flame intensity. I believe ther...
by Longdog
Wed Apr 24, 2019 9:18 am
Forum: Personal Investments
Topic: Is company’s 401k match based on base salary or social security salary?
Replies: 41
Views: 2704

Re: Is company’s 401k match based on base salary or social security salary?

Present last year's calculation to the HR person, and ask what in the plan documents has changed to reduce the amount. If she cannot point to some plan documentation spelling out a change, then you have every right to insist that the prior year's calculation be used.
by Longdog
Wed Apr 24, 2019 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

Where I work, the inverse is actually true. The higher you climb, the easier it is for you to be fired. Perhaps, but at least if you are higher up you have a fighting chance at influencing your fate. Peons have to just accept layoffs as they come. In other words, you want to be at the table, not on...
by Longdog
Wed Apr 24, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

During my career, quite a while ago, I had to “let go” people who had basically retired on the job. Not saying the OP would do this but a mindset of low ambition, lack of improvement, complaining about the bosses, etc can often mean being unemployed in your early ‘50’s. If you aren’t progressing it...
by Longdog
Tue Apr 23, 2019 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: What, if anything, do I owe this guy?
Replies: 82
Views: 8185

Re: What, if anything, do I owe this guy?

Dude's a swindler, but you still should act with honor. IMO just call him and tell him you've reconsidered and have decided to manage your own assets. Don't explain yourself any further, draw a hard line there. That's the minimum you owe him and IMO should be the only thing you give him. Emotionall...
by Longdog
Sat Apr 20, 2019 8:39 am
Forum: Personal Investments
Topic: Vanguard security
Replies: 40
Views: 3192

Re: Vanguard security

This lack of availability doesn’t scream security to me. Should I be concerned about someone hacking my account? I am most concerned about my inability to contact Vanguard. Has anyone else had this occur? Security and convenience are two different, and largely opposite things. The fact that they lo...
by Longdog
Fri Apr 19, 2019 9:13 am
Forum: Personal Investments
Topic: investing beyond the three fund portfolio
Replies: 7
Views: 728

Re: investing beyond the three fund portfolio

I don't understand the need for investing to be "exciting." Investing is about funding your future and maximizing the chance that there will be sufficient funds so you won't have to worry about money at some point in your life. You're certainly free to do with your money whatever legal thing you wan...
by Longdog
Thu Apr 18, 2019 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: dropping umbrella and increasing auto liability
Replies: 56
Views: 3389

Re: dropping umbrella and increasing auto liability

I was told by my insurance company that a $1M umbrella policy with an underlying (auto) policy with a 500k limit offers 1.5M of coverage for auto liability. So, if that applies in your case, then to get the same coverage from auto alone would require liability of 1.5M. I’m not sure you’re actually c...
by Longdog
Wed Apr 17, 2019 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding a tax penalty
Replies: 9
Views: 879

Re: Avoiding a tax penalty

I'm a busy guy and I'm just finishing up my 2017 taxes. This year I owe an amount that would be easily covered by my 2017 refund. IRS rejected my 2018 extension since they didn't have some information for previous year (2017). My question is can I go ahead and apply part of my 2017 refund to cover ...
by Longdog
Wed Apr 17, 2019 5:53 am
Forum: Personal Finance (Not Investing)
Topic: How to take advantage of unexpected 0%/Negative Federal space in a strange year of large credits
Replies: 19
Views: 895

Re: How to take advantage of unexpected 0%/Negative Federal space in a strange year of large credits

Either a Roth conversion as others have suggested or change some of your 401k contributions to Roth instead of pre-tax (if possible).
by Longdog
Wed Apr 17, 2019 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding a tax penalty
Replies: 9
Views: 879

Re: Avoiding a tax penalty

I'm a busy guy and I'm just finishing up my 2017 taxes. This year I owe an amount that would be easily covered by my 2017 refund. IRS rejected my 2018 extension since they didn't have some information for previous year (2017). My question is can I go ahead and apply part of my 2017 refund to cover ...
by Longdog
Tue Apr 16, 2019 6:20 am
Forum: Personal Investments
Topic: Cost basis during Roth conversion
Replies: 9
Views: 713

Re: Cost basis during Roth conversion

You can't transfer an asset directly from a traditional IRA to a Roth IRA. You sell it from one and buy it in the other at the current market price. So, you'd sell the CVS shares, convert the cash to your Roth IRA, and if you are so inclined, purchase it within the Roth IRA. If the traditional IRA ...
by Longdog
Tue Apr 16, 2019 6:10 am
Forum: Personal Investments
Topic: Cost basis during Roth conversion
Replies: 9
Views: 713

Re: Cost basis during Roth conversion

You can't transfer an asset directly from a traditional IRA to a Roth IRA. You sell it from one and buy it in the other at the current market price. So, you'd sell the CVS shares, convert the cash to your Roth IRA, and if you are so inclined, purchase it within the Roth IRA. If the traditional IRA w...
by Longdog
Wed Apr 10, 2019 6:03 am
Forum: Personal Finance (Not Investing)
Topic: Not much work at new megacorp job
Replies: 70
Views: 5620

Re: Not much work at new megacorp job

trustquestioner wrote:
Tue Apr 09, 2019 9:05 pm
The longer I go in my career, the more it is apparent basically nobody at huge companies is actually working very hard. It isn’t fair, but it’s all politics and relationships above a baseline of competence.
This post made me laugh! It’s probably quite true.
by Longdog
Mon Apr 08, 2019 4:09 am
Forum: Personal Consumer Issues
Topic: Talk me in/out of $35k Tesla Model 3
Replies: 286
Views: 19295

Re: Talk me in/out of $35k Tesla Model 3

How do the doors open if there is no power? There's still a manual release lever. The windows stay up if there's no power, though, so there's more of a possibility of damaging them when opening using the manual levers. I interpret “no power” to mean battery is fully drained or battery/electric syst...
by Longdog
Sun Apr 07, 2019 2:41 pm
Forum: Personal Consumer Issues
Topic: Talk me in/out of $35k Tesla Model 3
Replies: 286
Views: 19295

Re: Talk me in/out of $35k Tesla Model 3

How do the doors open if there is no power? There's still a manual release lever. The windows stay up if there's no power, though, so there's more of a possibility of damaging them when opening using the manual levers. I interpret “no power” to mean battery is fully drained or battery/electric syst...
by Longdog
Fri Apr 05, 2019 2:25 pm
Forum: Personal Investments
Topic: Disastrous amount of brokerage transfer fee slapped by Trade Station?
Replies: 18
Views: 1186

Re: Disastrous amount of brokerage transfer fee slapped by Trade Station?

Wow that was an exciting start(?) to an investing “career!” Hopefully you got that excitement out of your blood and will have a long and prosperous investment horizon ahead of you, in which you benefit from the costly lessons learned! Welcome!
by Longdog
Thu Apr 04, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Move RSU shares from ML to vanguard
Replies: 5
Views: 283

Re: Move RSU shares from ML to vanguard

Because they were RSUs that vested, most likely they will be uncovered shares, though whatever cost basis ML has will transfer to Vanguard. However, when you eventually sell them Vanguard will not report the basis to the IRS - that will be your responsibility. It would be the same even if you sold t...
by Longdog
Wed Apr 03, 2019 5:32 am
Forum: Personal Finance (Not Investing)
Topic: December 31 Dividends and Cap Gains Distributions
Replies: 7
Views: 413

Re: December 31 Dividends and Cap Gains Distributions

The approach I’d use, assuming you’re not adding to the holdings, would be to assume this year’s distributions are the same as last year’s, perhaps with a ~10% cushion in case they grow. Worst case would be you’d owe 15% only on the amount that puts you above the zero percent threshold, not the whol...
by Longdog
Thu Mar 28, 2019 7:17 pm
Forum: Personal Investments
Topic: mortgage principle pre-payment as superior risk-adjusted investment option?
Replies: 16
Views: 1215

Re: mortgage principle pre-payment as superior risk-adjusted investment option?

Assuming you have reasonable liquidity in an emergency fund, I agree with your analysis. That is equivalent to a risk-free 4.89% yield. Seems pretty good to me.
by Longdog
Tue Mar 26, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth in High Tax Bracket?
Replies: 6
Views: 880

Re: Convert to Roth in High Tax Bracket?

The question is this: Is there an any long-term estate and/or income tax advantage to converting my remaining $800,000 +/-Traditional IRA to a Roth? I just ran the Turbotax numbers and had I converted it all in 2018, the tax on the conversion would have been 36% of the total IRA (I will pay the tax...
by Longdog
Mon Mar 25, 2019 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance of Trad IRA
Replies: 40
Views: 2194

Re: Inheritance of Trad IRA

Is the only “income” the inheritance of the traditional IRA? If so, you can withdraw that over time (don’t know the exact calculation) - it doesn’t have to be all in one year. The estate is in an A B trust so the IRA is the only taxable money. To settle estate I thought it would need to be all dist...
by Longdog
Mon Mar 25, 2019 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance of Trad IRA
Replies: 40
Views: 2194

Re: Inheritance of Trad IRA

Is the only “income” the inheritance of the traditional IRA? If so, you can withdraw that over time (don’t know the exact calculation) - it doesn’t have to be all in one year.
by Longdog
Mon Mar 25, 2019 5:43 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block updates? do you wait to file?
Replies: 14
Views: 1046

Re: H&R Block updates? do you wait to file?

I don’t wait. Once I have my 1099s and the necessary tax forms are considered final, I am good to go. Not concerned with whatever program bugs get fixed in later updates because the chance they affect me are, in my opinion, miniscule.
by Longdog
Sat Mar 23, 2019 9:47 am
Forum: Personal Investments
Topic: Wanna start a Roth and eventually do Backdoor Roth
Replies: 5
Views: 253

Re: Wanna start a Roth and eventually do Backdoor Roth

If you have more than a few years of work ahead of you, even if you are unable to roll the IRA into your current employer’s 401k, I think it would make sense to convert the $5900 to Roth and pay the $1770 in taxes from your taxable account. That would set you up to do Backdoor Roth contributions for...
by Longdog
Sat Mar 23, 2019 9:02 am
Forum: Investing - Theory, News & General
Topic: Your thoughts on the teachings of Ed Slott
Replies: 52
Views: 5455

Re: Your thoughts on the teachings of Ed Slott

Thank you. Now I see that the traditional IRA withdrawals against the standard deduction are considered, in your example, without any other income. I also now see how you're estimating account balances with regard to the RMD. Now, knowing this, what is the case for Roth conversion at all? I'm assum...
by Longdog
Sat Mar 23, 2019 7:57 am
Forum: Investing - Theory, News & General
Topic: Your thoughts on the teachings of Ed Slott
Replies: 52
Views: 5455

Re: Your thoughts on the teachings of Ed Slott

I can't speak from his advice -- much of it might make sense. But, in his PBS stints he comes across as a carnival barker e.g. having the audience repeat back his mantra about "never taxed". As pointed out he positions it as a universally best option in all cases to convert all your TIRA to a Roth....
by Longdog
Fri Mar 22, 2019 5:41 am
Forum: Investing - Theory, News & General
Topic: Can I still do a Mega Backdoor Roth Conversion for 2018?
Replies: 12
Views: 1067

Re: Can I still do a Mega Backdoor Roth Conversion for 2018?

Any conversion you do this year counts against this year’s taxes. But I think you are conflating terminology. What do you mean by a Mega Backdoor Roth conversion?
by Longdog
Wed Mar 20, 2019 7:37 pm
Forum: Personal Investments
Topic: Vanguard Advisor Services
Replies: 7
Views: 798

Re: Vanguard Advisor Services

Even though you say you just started the investment journey, you seem remarkably astute in my opinion. Learn from this board, especially the Wiki, but trust your instinct, especially your instinct to question things. I encourage you to take your time and find an allocation that you are comfortable w...
by Longdog
Wed Mar 20, 2019 5:42 am
Forum: Personal Investments
Topic: Vanguard: "Your Account Needs to be Transitioned"
Replies: 27
Views: 4698

Re: Vanguard: "Your Account Needs to be Transitioned"

When they started, AFAIK, the only type of account was a MF account. Later, they added brokerage accounts. Now they want to decrease the overhead of managing two types of accounts. Switching from MF account-type to brokerage account-type does NOT mean you have to sell Funds and buy ETFs. Just keep ...
by Longdog
Tue Mar 19, 2019 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Car Dealer Promo: 0% for 60 months (need advice)
Replies: 25
Views: 2536

Re: Car Dealer Promo: 0% for 60 months (need advice)

Ask if there is an option to take an additional discount if you pay cash or forego the promotional interest rate. If so, then that promotion is nothing special - it's merely a reallocation of the discount they might agree to, to subsidize the loan interest. If not (likely if it is a manufacturer's p...
by Longdog
Tue Mar 19, 2019 5:48 am
Forum: Personal Investments
Topic: Strategy for tax-optimization
Replies: 5
Views: 1000

Re: Strategy for tax-optimization

If you donate to charity, instead of donating cash, donate the most appreciated shares of this fund and simultaneously purchase it in your IRA. This is probably the most tax efficient way of “virtually” moving those assets, but you’ll only be able to do up to your annual IRA contribution amount per ...