Search found 74 matches

by busdriver
Wed Jan 02, 2019 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 398
Views: 56320

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: 2285

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: 16
Views: 1250

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: 16
Views: 1250

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: 16
Views: 1250

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: 16
Views: 1250

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: 16
Views: 1250

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: 2299

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: 359
Views: 52399

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: 359
Views: 52399

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: 2428

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: 2428

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: 2428

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: 2428

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: 2428

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: 2428

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: 3648

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: 3343

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: 2428

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: 398
Views: 56320

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: 398
Views: 56320

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: 1160

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: 1160

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: 1160

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: 1160

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: 1160

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: 1160

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: 1160

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: 1144

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: 1144

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: 1144

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: 1426

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: 1426

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: 1426

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: 1426

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: 1426

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: Personal Investments
Topic: [Switching from Target Date fund to 3-fund portfolio - How?]
Replies: 9
Views: 1862

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: Personal Investments
Topic: [Switching from Target Date fund to 3-fund portfolio - How?]
Replies: 9
Views: 1862

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: Personal Investments
Topic: 2M savings investment help
Replies: 49
Views: 10905

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: 5504

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: 23515

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: 869

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: 869

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: 869

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: 869

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: 869

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: 869

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: 2402
Views: 1504985

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: 2402
Views: 1504985

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...