Search found 67 matches

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: 2233

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: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 306
Views: 43086

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: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 306
Views: 43086

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: 16
Views: 2064

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: 16
Views: 2064

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: 16
Views: 2064

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: 16
Views: 2064

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: 16
Views: 2064

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: 16
Views: 2064

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: 3495

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: 3250

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: 16
Views: 2064

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: 250
Views: 40180

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: 250
Views: 40180

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: 1113

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: 1113

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: 1113

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: 1113

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: 1113

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: 1113

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: 1113

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...
by busdriver
Wed Dec 06, 2017 2:27 pm
Forum: Investing - Theory, News & General
Topic: Any reason not to rollover 403b to IRA?
Replies: 6
Views: 1077

Re: Any reason not to rollover 403b to IRA?

Thank you for your comments.
by busdriver
Tue Dec 05, 2017 2:25 pm
Forum: Investing - Theory, News & General
Topic: Any reason not to rollover 403b to IRA?
Replies: 6
Views: 1077

Re: Any reason not to rollover 403b to IRA?

Thank you for your replies.
by busdriver
Tue Dec 05, 2017 12:53 am
Forum: Investing - Theory, News & General
Topic: Any reason not to rollover 403b to IRA?
Replies: 6
Views: 1077

Any reason not to rollover 403b to IRA?

In trying to simplify my 94 year old father-in-law's finances/portfolio, I've just become aware of the ability to rollover a 403b plan to IRA. Details are that his first wife, (my wife's mother), was involved in the school system many years ago and had accrued a 403b retirement account at Valic. She...
by busdriver
Mon Dec 04, 2017 11:34 pm
Forum: Investing - Theory, News & General
Topic: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?
Replies: 10
Views: 1375

Re: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?

So, good news. Today my wife made contact with rep at Ameriprise. He said he understands trying to simplify and transfer my father-in-law's accounts to Vanguard. Suggested selling half of the RiverSource annuity this year and other half in January to lessen the tax consequences. Then we transfer the...
by busdriver
Sat Dec 02, 2017 8:11 pm
Forum: Investing - Theory, News & General
Topic: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?
Replies: 10
Views: 1375

Re: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?

Sounds like similar objective to what we want to do other than yours is in IRA account and ours is not. My plans are to have it sold/liquidated/surrendered, or whatever term is correct, at Ameriprise by contacting Ameriprise to initiate it. Then when it’s in cash sweep account, fill out Vanguard for...
by busdriver
Sat Dec 02, 2017 6:53 pm
Forum: Investing - Theory, News & General
Topic: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?
Replies: 10
Views: 1375

Re: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?

My wife has been trying to get her RiverSource Flexible Annuity rolled over to Vanguard for years now. No luck. I swear we've filled out 5 different forms (each time they seem to say we need a different one, or different info on them) and each time something comes back saying they can't do it. If y...
by busdriver
Sat Dec 02, 2017 4:47 pm
Forum: Investing - Theory, News & General
Topic: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?
Replies: 10
Views: 1375

Re: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?

Full agent authorization was filled out for IRA, but Vanguard said only limited authority authorization was allowed for trust account which allows most everything shy of closing account. As it stands, she is successor trustee of the trust, so that base is eventually covered. New forms were filled ou...
by busdriver
Thu Nov 30, 2017 9:53 pm
Forum: Investing - Theory, News & General
Topic: Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?
Replies: 10
Views: 1375

Anyone switch brokerage account from Ameriprise or Wells Fargo to Vanguard?

My apologies ahead of time for being long-winded. My wife and I have been accumulating forms from Vanguard to transfer my 94 year old Father-In-Law's various accounts at both Ameriprise and Wells Fargo to a single brokerage account at Vanguard. Today, we just finished pre-filling-out the forms to th...
by busdriver
Tue Nov 21, 2017 6:15 am
Forum: Investing - Help with Personal Investments
Topic: [Switching from Target Date fund to 3-fund portfolio - How?]
Replies: 9
Views: 1747

Re: [Switching from Target Date fund to 3-fund portfolio - How?]

I have the majority of my investments at Fidelity all of which is now in the three fund portfolio. I believe if you call and have a Fidelity representative place your orders, there will be a charge; whereas, if you do the sell and subsequent buy orders yourself online, there will be no charge. At l...
by busdriver
Sun Nov 19, 2017 11:55 pm
Forum: Investing - Help with Personal Investments
Topic: [Switching from Target Date fund to 3-fund portfolio - How?]
Replies: 9
Views: 1747

Re: [Switching from Target Date fund to 3-fund portfolio - How?]

I have the majority of my investments at Fidelity all of which is now in the three fund portfolio. I believe if you call and have a Fidelity representative place your orders, there will be a charge; whereas, if you do the sell and subsequent buy orders yourself online, there will be no charge. At le...
by busdriver
Sat Nov 11, 2017 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: 2M savings investment help
Replies: 49
Views: 10731

Re: 2M savings investment help

Thanks for chiming in, we came to this conclusion - Use 1M to build a Muni bond ladder, with AA and above, GO bonds ( Revenue bonds for water utilities and gas pipeline companies are O.K) upto 10 year term and keep them to maturity Why add the complexity of a ladder of individual munis when you cou...
by busdriver
Fri Jul 28, 2017 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Any pilots here? [as a career]
Replies: 38
Views: 5321

Re: Any pilots here? [as a career]

Presently in my 41st year as a professional pilot. Some good points have already been made. If you have no flying experience, then the time and funds to get qualified to meet minimum requirements for hiring will be long and expensive. I started flying at 15 and was hired at 22. Lessons back then wer...
by busdriver
Fri Jun 30, 2017 4:09 pm
Forum: Investing - Theory, News & General
Topic: Switching to Fidelity's new Total International Index (includes small cap!)
Replies: 91
Views: 22742

Re: Switching to Fidelity's new Total International Index (includes small cap!)

When I tried to switched both my IRA and 401K accounts from FSGDX to FTIPX, the website wouldn't allow it, ($150k & $300k intl. in each acct.). I made a call to Fidelity Premium Services and asked why I couldn't and was told there is a 100k limit which applies to both buy and sell orders of both fun...
by busdriver
Wed Mar 22, 2017 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Re: Tax Rate Schedule confusion

Side point unrelated to your question, but note that the irs.com site you linked in your OP is NOT an official IRS website. The office IRS website is irs.gov (which you cited in the third link of your OP.) I am not sure who owns irs.com but it is not authoritative information from the horse's mouth...
by busdriver
Wed Mar 22, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Re: Tax Rate Schedule confusion

If her income was all wages in 2015 but in 2016 her income included at least some self-employment income (subject to self-employment tax) and/or investment income (subject to kiddie tax), this is possible. Thank you for the explanation. Yes, all 2015 was wages plus a little investment income. 2016 ...
by busdriver
Wed Mar 22, 2017 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Re: Tax Rate Schedule confusion

I can't believe I misread it. Was thinking Fairmark said 10% over the 9,275 figure, when in reality it was 10% over 0. Thanks for helping me see this more clearly. :oops: What got me started on this is unless there was a major revision to the tax code, I'm at a loss why my daughter, who made appx. 5...
by busdriver
Wed Mar 22, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Re: Tax Rate Schedule confusion

sport wrote:You need to subtract personal exemptions and at least the standard deduction before income becomes taxable.
That may be; however, the two sites say two different things if I'm reading correctly.
by busdriver
Wed Mar 22, 2017 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Re: Tax Rate Schedule confusion

jebmke wrote:I didn't look at them carefully but they look the same to me. Fairmark says zero plus 10% of the amount over zero income.
Yes, Fairmark says zero plus 10% of the amount over, but IRS says 10% plus 15% over. Big difference.
by busdriver
Wed Mar 22, 2017 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rate Schedule confusion
Replies: 10
Views: 830

Tax Rate Schedule confusion

I saw from another post a link to Fairmark.com showing 2016 Tax Rate Schedules: http://fairmark.com/general-taxation/reference-room/2016-tax-rate-schedules I also looked up on IRS site tax rates here: https://www.irs.com/articles/2016-federal-tax-rates-personal-exemptions-and-standard-deductions Acc...
by busdriver
Tue Mar 07, 2017 12:29 am
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2271
Views: 1438921

Re: The Three-Fund Portfolio

I thought general consensus was to use Fidelity Global Ex US Index Fund Investor Class (FSGUX) or Premium Class (FSGDX), rather than Fidelity Total International Index Fund Investor Class (FTIGX) or Premium Class (FTIPX)? I'm not an expert on either but discussion on both can be found in the topics...
by busdriver
Mon Mar 06, 2017 11:58 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2271
Views: 1438921

Re: The Three-Fund Portfolio

Consider guidance found here: https://www.bogleheads.org/wiki/Three-fund_portfolio#Other_than_Vanguard.2C_Boglehead-style I thought general consensus was to use Fidelity Global Ex US Index Fund Investor Class (FSGUX) or Premium Class (FSGDX), rather than Fidelity Total International Index Fund Inve...
by busdriver
Tue Feb 21, 2017 10:29 pm
Forum: Personal Consumer Issues
Topic: Dishwasher suggestions. LG Quad Wash vs???
Replies: 43
Views: 5593

Re: Dishwasher suggestions. LG Quad Wash vs???

While we have LG refrigerators, washers and dryers in both our homes, I've always been partial to KitchenAid dishwashers which is what's in both our homes. You might want to consider one like this: http://www.homedepot.com/p/KitchenAid-Front-Control-Dishwasher-in-Stainless-Steel-with-Stainless-Steel...
by busdriver
Sat Sep 03, 2016 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

TN_Boy wrote:I'd think, if I was gone by, for example, age 68, would I be comfortable with her having only the 50% benefit and the survivor social security? That seems like a pretty big drop.
In total agreement to both.

Edit: For me it'd be no to the first statement and yes to the second.
by busdriver
Sat Sep 03, 2016 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

From the original post, do I read that right as moving from 50% survivor benefits to 100% survivor benefits reduces the pension by 7% or so? 7.8% less to be exact. How big a difference will that 7% really make to your joint standard of living? Unless it makes a serious difference, go with the 100% ...
by busdriver
Wed Aug 31, 2016 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

I find it awful that there is even a any contemplation about a spouse getting 50% benefits. I would have thought it would be automatic 100% survivor benefits for spouse (male or female). why does anyone think a spouse shouldn't get 100%? As I stated previously, I like the idea of my spouse getting ...
by busdriver
Wed Aug 31, 2016 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

Very interesting. There seem to be endless variations across (and sometimes within) plans. Apparently so. I'm mainly trying to limit myself to the 3 different choices, (50%/75%/100% or 4 if you count 50% w/snap-back to 100% if she predeceases me). I think the unknown expense at this point will be h...
by busdriver
Wed Aug 31, 2016 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

If you are insurable have you looked at what a 20 year term life policy might cost for the amount your survivor might need to supplement her pension? Is it less than 12.5% of your pension? I haven't looked into it as I've been under the assumption that from 65 on, term policies get expensive. The 1...
by busdriver
Wed Aug 31, 2016 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for guidance on survivor benefits options
Replies: 37
Views: 3880

Re: Looking for guidance on survivor benefits options

It is easy, and understandable, to get hung up on the best value in these cases. But really the focus should be on what a surviving spouse needs to live comfortably. It sounds like you have started down this path, but you really need to compare the couple options you are considering with 1) both su...