Search found 96 matches

by busdriver
Tue Jan 28, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: PBGC pension survivor benefits?
Replies: 11
Views: 636

Re: PBGC pension survivor benefits?

I could be wrong, but I believe there might be a rule or law that makes the default 50% if nothing has been established yet. In my case, (not sure if this is a constant with PBGC), there are four options of joint-survivorship, 0%, 50%, 75% & 100%. The first option can only be selected with written a...
by busdriver
Sun Jan 26, 2020 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: PBGC pension survivor benefits?
Replies: 11
Views: 636

Re: PBGC pension survivor benefits?

I will be doing the same plan as you. I have a little less than 4 years before I claim at 70. From what I understand, you cannot specify a joint-survivorship amount until you file to start receiving your benefits. I wrote PBGC in regards to my death before I start my benefits. This is their response...
by busdriver
Sat Jan 25, 2020 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

My impression is that brokers do not deal uniformly with cost basis on NUA shares. Okay, that would make sense with the way they reported it. Did you ever provide the cost basis per share to the brokerage unit, or tell them these were NUA shares? No, I thought that since it was the same company the...
by busdriver
Sat Jan 25, 2020 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Also, no gains/loss was reported on the 1099-B. I'm thinking somehow this is accounted for with form 8949 by checking the boxes that states short and long term basis wasn't reported?
by busdriver
Sat Jan 25, 2020 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Another question: I did total distribution rollover from Fidelity 401K to Fidelity IRA and in-kind transfer of company stock to Fidelity taxable brokerage account in July 2019 and the stock was then sold in September. I received 2 1099-R's from Fidelity Institutional, one for rollover amount to IRA ...
by busdriver
Sat Jan 25, 2020 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

Well not so easy for me. Link at Fido takes you to intuit/ttax premier site to start the online version's interview. After reading your reply yesterday I decided to go back to Fido and shazaam! The offer no longer is on my page. I can still go back to intuit and it takes me to premier after signing...
by busdriver
Sat Jan 25, 2020 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

Two years ago I received downloadable Premier program. Last year nothing. Yesterday I noticed that online Premier was available for free. Not feeling warm and fuzzy about going thru all the hoops online, so will probably get a copy at Costco to put on my computer to work offline. :( You can get the...
by busdriver
Fri Jan 24, 2020 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

Two years ago I received downloadable Premier program. Last year nothing. Yesterday I noticed that online Premier was available for free. Not feeling warm and fuzzy about going thru all the hoops online, so will probably get a copy at Costco to put on my computer to work offline. :(
by busdriver
Mon Dec 16, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Medigap, Medicare advantage
Replies: 29
Views: 1362

Re: Medigap, Medicare advantage

A few years away from medicare but trying to get educated now. When choosing Medigap or Medicare advantage and otherwise navigating the Medicare system, does one work with a capable agent or is this a DIY process ? Thanks I was in the same place you are in a few years back and started research well...
by busdriver
Fri Dec 13, 2019 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Update & a couple questions: I made the rollover of entire 401K to IRA with the NUA stock going to taxable account in mid July. The share price at time of transfer was $62.25. Within two weeks the price started heading south, so I decided to be patient to see if I could sell it near $62.25/share. By...
by busdriver
Wed Dec 04, 2019 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Finding a Medigap insurance broker
Replies: 12
Views: 718

Re: Finding a Medigap insurance broker

rivercrosser wrote:
Wed Dec 04, 2019 5:51 pm

Where to you live at?
WA

[edit] As of October, 2019, State Farm at $160/mo is the cheapest part G available.
by busdriver
Wed Dec 04, 2019 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Finding a Medigap insurance broker
Replies: 12
Views: 718

Re: Finding a Medigap insurance broker

.....switching from Plan F to Plan G Medigap policy. In order to compare options and obtain quotes.....Any advice would be appreciated. My advice is start with your state's Department of Insurance. Most state(s) insurance depts. post a complete list of all companies offering Medigap policies and th...
by busdriver
Fri Jul 05, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

Yes, I believe it will come up with the most tax-advantaged plan for your projected future based on your inputs. Any chance you created a cheat sheet for yourself documenting exactly what the Settings tab items controlled. Some are obvious but others are clearly not. Any other tidbits you could sha...
by busdriver
Wed Jul 03, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

Yes, I believe it will come up with the most tax-advantaged plan for your projected future based on your inputs.
by busdriver
Sat May 25, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

danielm & roboracer: Thank you for posting your thoughts on Income Strategy. I am still subscribing and still believe it's a good product. While I still don't think it understands the taxation of my company stock for NUA purposes, I still like that it can show results of total taxes paid and ending ...
by busdriver
Tue Apr 30, 2019 2:36 am
Forum: Personal Consumer Issues
Topic: Boglehead Pilots...advice
Replies: 57
Views: 6296

Re: Boglehead Pilots...advice

A long time ago in a galaxy far away at age 15, I started flying lessons. I worked my way through student, private, commercial, instrument, multi-engine, flight instructor, instrument instructor, multi-engine instructor, ground instructor, flight engineer, airline transport pilot both single engine ...
by busdriver
Sun Apr 07, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

Phil: Thank you for your reply. Unfortunately, I am challenged when it comes to I-ORP and never felt like I could work with it properly. I am also unable to work with spreadsheets, so any free programs that run on excel aren't any help to me. I am happy with the Income Strategy product and am still ...
by busdriver
Thu Mar 14, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: [Roth conversions]
Replies: 9
Views: 866

Re: [Roth conversions]

I'm in a similar circumstance with recent retirement at age 65 and low 7 digits TDA's. I am delaying pension & SS until age 70, (although I'll file for SS spousal benefits at age 66). The plan is to convert all TDA's to Roth before RMD's come into play. While this will put us in the 35% tax bracket ...
by busdriver
Wed Mar 13, 2019 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Predicted RMDs Have Caught Me By Surprise
Replies: 69
Views: 8022

Re: Predicted RMDs Have Caught Me By Surprise

You will have several years between age 62 and RMDs to do Roth conversions. That is a lot to convert, but I would leave at least $$300 - $500k in tIRA (not convert it to Roth). If you try to convert $2.5 million in that 8 years or so, your tax bracket is going to be pretty high for those 8 years. H...
by busdriver
Wed Jan 02, 2019 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

qualifying for the free Turbo Tax is subjective and I simply was not selected. The qualification criteria I heard before she stopped reading aloud were: 500 trades in calendar year at Fidelity or >$500k in non-401k accounts at Fidelity or >$1 mil in assets at Fidelity That would explain why I recei...
by busdriver
Wed Dec 05, 2018 2:07 am
Forum: Personal Consumer Issues
Topic: Garage door openers - please compare Chamberlain B970, B980, B1381?
Replies: 24
Views: 6953

Re: Garage door openers - please compare Chamberlain B970, B980, B1381?

I too have a Liftmaster 8500 at my 2nd home. Very happy. If my 20 year old Genie chain drive at my main home ever gives up, I'll replace it with a Liftmaster 8500 in a heartbeat.
by busdriver
Wed Oct 31, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Wow that's brave of you... I am having trouble convincing myself to do that (convert to Roth rather than take a real low tax bill). The plan is to pay less taxes overall during the remainder of our lives rather than try to save taxes on a year by year basis, (paying more overall cumulatively). Havi...
by busdriver
Tue Oct 30, 2018 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Your situation is undoubtedly different. But I encourage to run the numbers. It is not as simple as comparing 15% to 35% and saying that it's an obvious choice. By the way, are you really facing a 35% rate in retirement ? If so, congrats. :beer In my case the stock, when sold, will be used to pay t...
by busdriver
Tue Oct 30, 2018 12:41 am
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

No reason not to add to the existing rollover IRA. It will be convenient to open your taxable brokerage account at Fidelity also, but you do not have to if you prefer to have it elsewhere. Thank you. My desire is to keep this as simple as possible. My end game is to convert all my tax-deferred fund...
by busdriver
Mon Oct 29, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

Re: NUA, (Net Unrealized Appreciation), tax forms

Thank you much for all the replies. The 401K is at Fidelity. I also have a rollover IRA there from a previously terminated pension plan, so am thinking of utilizing that account for the 401K rollover. I'll need to open a taxable brokerage account there for the in-kind company stock. My intent is to ...
by busdriver
Sun Oct 28, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: NUA, (Net Unrealized Appreciation), tax forms
Replies: 27
Views: 2239

NUA, (Net Unrealized Appreciation), tax forms

While I believe I have a pretty-good understanding of NUA and its' qualifiers, I'd like to understand what tax forms to expect through the process and what amounts should be entered in what boxes of tax forms that are sent from the broker so I can verify they were done properly before filing. Due to...
by busdriver
Thu Sep 20, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: What is a reasonable fee charged by financial planners?
Replies: 30
Views: 2368

Re: What is a reasonable fee charged by financial planners?

I already have my plan in Excel but am running into its limitations for determining optimazation strategies on such things as when to take SS, when to turn on distributions of several retirement accounts, and possible need to do Roth conversion. Trying to avoid tax torpedo at age 70. You might want...
by busdriver
Sat Aug 25, 2018 12:51 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2018!
Replies: 383
Views: 74309

Re: Roll Call for the Retirement Class of 2018!

Miriam2: Thanks for the recipe. Not so sure how much happier the family will be when I pull the plug as they've been heckling me to take another one. :annoyed I have countered with the idea that they should find employment to support me. :twisted: So far, it's having the same result. :mrgreen: :beer
by busdriver
Thu Aug 23, 2018 1:12 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2018!
Replies: 383
Views: 74309

Re: Roll Call for the Retirement Class of 2018!

After 42 years at present job, I'll be joining the class of 2018 on November 21 at age 65. :happy
by busdriver
Mon Aug 20, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

Busdriver, the incomestrategy monthly model sort of assumes one would use on a regular basis throughout the year. Have you found this to be the case? Or did you use it a lot during the first couple of months and then not need it so much afterwards? -daniel- The first several months I worked with it...
by busdriver
Sat Aug 18, 2018 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

If you were born on or before January 1, 1954, after you reach FRA, you can choose to receive only the spousal benefit by filing a restricted application. By doing this you delay receiving your own retirement benefits based on your earnings record, until a later date. I will be retiring in November,...
by busdriver
Sat Aug 18, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

I have less than a couple of hours experience with Income Strategy but, so far, find no way to control the SS benefit strategy, nor to edit the benefit forecast. (I prefer to include the Trustee's forecast of the trust fund drying up in 2035.) MaxiFi allows both. In it, I set benefits to drop 25% i...
by busdriver
Sat Aug 18, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

I think it's a suboptimal idea, generally, to convert all of a substantial tax deferred portfolio to Roth by age 70. You'll pay a large amount of additional income tax to do that. More optimal approach is to levelize your income before and after age 70 to keep your AGI and resulting taxable income ...
by busdriver
Sat Aug 18, 2018 3:10 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

I was hoping someone else would have tried the product by now, but apparently not. I still subscribe with the basic $20/mo., but feel no need in our case to use the premier plan. I have spent four or five hour-long sessions to tweak my plan as I have some special issues to contend with to refine tax...
by busdriver
Thu Jun 07, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Re: Has anyone used Income Strategy website/software?

Since there was no feedback from my original post on this and since Fidelity, (holder of all of our tax deferred funds), has told me that their retirement drawdown analysis planning is no longer a service they provide, I decided to try the $20/month subscription service. After inputting personal inf...
by busdriver
Wed Feb 21, 2018 1:23 am
Forum: Investing - Theory, News & General
Topic: Which book for an 18 year old who is asking about investing?
Replies: 45
Views: 3872

Re: Which book for an 18 year old who is asking about investing?

While I've read and enjoyed many of the books mentioned above, I felt that keeping it short and simple would be paramount to achieving success in teaching my children, (22 & 25), the major fundamentals to investing. I chose two books to get the facts across. 1) Investing Made Simple by Mike Piper ht...
by busdriver
Sat Jan 13, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Retirement Checklist.
Replies: 16
Views: 3661

Re: 2018 Retirement Checklist.

His pension will begin at age 65 and is about $20K per year with a right of 100% survivorship for me. I too will be retiring near the end of this year and was planning on drawing on my pension at 65 until a co-worker advised me to get an estimate of benefits for waiting until 70. It was nearly doub...
by busdriver
Tue Jan 02, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 40
Views: 11507

Has anyone used Income Strategy website/software?

With retirement less than a year away, I'm trying to figure how to distribute my 401K & rollover IRA funds tax-efficiently. I will hold-off on my SS and PBGC pension until 70, but will draw on my spousal benefit starting at 66, so I've got from 65-70 to whittle-down a low 7 digit tax-deferred portfo...
by busdriver
Mon Jan 01, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

TimeRunner wrote:
Mon Jan 01, 2018 7:35 pm
I wonder what Fido's criteria is????
Me too! :confused
by busdriver
Mon Jan 01, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 76810

Re: Fidelity free Turbotax

As of today, no offer for me, even though it was available last year. 7 digit portfolio with no trades, other than re-balancing. Hoping it'll show up in the next month or so; otherwise, it'll be back to Costco for purchase.
by busdriver
Thu Dec 21, 2017 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

It’s true but taking the bullet on one or two year premium increase from Medicare premiums maybe the lesser of the two evils. Again it depends on the size of the retirement account and specific personal tax situation. This is why I have to model on TT to get the big picture. Thanks for all the repl...
by busdriver
Thu Dec 21, 2017 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

JoeJohnson wrote:
Tue Dec 19, 2017 7:05 pm
Does pension have COLA?
Pretty-sure the pension is no, while the SS is yes.
by busdriver
Thu Dec 21, 2017 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

DrGoogle2017 wrote:
Tue Dec 19, 2017 7:04 pm
Actually her RMD withdraw percentage at 70 is about 4% and RMD at age 90 is about 9%. So if she has the same amount of income and the tax bracket doesn’t change much then it’s best to convert early.
Thanks for your reply.
by busdriver
Thu Dec 21, 2017 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

Sounds like she is single. If she pays for Medicare Part B or D (or will pay within the next 2 years), going to the top of the 25% bracket will increase her Medicare premiums. So convert up to something less than $85k instead. Thanks for reminding me about IRMAA. Yes, 85K sounds like a good place t...
by busdriver
Thu Dec 21, 2017 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

Does she give to charity? I believe there's something how someone can give from an IRA straight to charity and it satisfies the RMD, and is also above the line so that would be a reason not to convert. I'm not sure if or how much she gives to charity. I've asked her to run it by her tax preparer to...
by busdriver
Tue Dec 19, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Re: Fill-up 25% bracket for Roth Conversion?

My thought is that each year, her RMD's would be at same 25%, so why not pay now to the extent of the bracket to convert and have non-taxable Roth legacy to pass on to heirs. She does have CA income tax to contend with, so not sure if that plays much into it.
by busdriver
Tue Dec 19, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Fill-up 25% bracket for Roth Conversion?
Replies: 13
Views: 1248

Fill-up 25% bracket for Roth Conversion?

My sister’s 2016 agi was approx 62K and taxable income approx 45K. 2017 and future years will be similar as she is retired. This puts her in the beginning of the 25% tax bracket. She receives RMD’s which she doesn’t need as pension and SS more than take care of her needs. Would it make sense to take...