Search found 755 matches

by grettman
Thu Apr 13, 2023 4:33 pm
Forum: Investing - Theory, News & General
Topic: Can ChatGPT predict stock movements - paper
Replies: 59
Views: 6863

Re: Can ChatGPT predict stock movements - paper

It will be just as wrong as the Cramer, the people on Bloomberg, and etc.
by grettman
Fri Mar 24, 2023 5:03 am
Forum: Personal Consumer Issues
Topic: Cancel Tesla order?
Replies: 60
Views: 6487

Re: Cancel Tesla order?

Jack FFR1846 wrote: Thu Mar 23, 2023 6:06 pm Buy a Subaru Outback and get the same ratings as a Model Y. (technically better) for half the price.
Outback
https://www.iihs.org/ratings/vehicle/su ... wagon/2023

Model Y
https://www.iihs.org/ratings/vehicle/te ... r-suv/2023

Heck....trade your Mazda and it becomes a cheap upgrade.
This is what I would do. If the goal is safety, and if I could get the the same level or close to it for cheaper, it's a no-brainer.

Besides, although I am not paying close attention to this, it seems Tesla is frequently in the news about government investigations related to safety.
by grettman
Sun Jan 29, 2023 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Homebuying Experience. Need Advice
Replies: 84
Views: 9492

Re: Bad Homebuying Experience. Need Advice

Mike Scott wrote: Sun Jan 29, 2023 2:21 pm Talk to your buying agent.
Hopefully the buyer's agent doesn't give lip service just to protect the deal. In my experience, buyer's agents really don't care about the buyer, they care about the deal. I guess I have had some crappy agents.
by grettman
Sun Jan 29, 2023 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Homebuying Experience. Need Advice
Replies: 84
Views: 9492

Re: Bad Homebuying Experience. Need Advice

Run far away from this house.... run....run... no....run faster than that....
by grettman
Mon Jan 09, 2023 9:00 am
Forum: Investing - Theory, News & General
Topic: With blood in the streets, do BHs buy? [Market downturn]
Replies: 102
Views: 12341

Re: With blood in the streets, do BHs buy? [Market downturn]

I am always buying. Regardless of the market conditions.


The market is higher now (a/o 9:58 ET on Jan 9) than it was at the end of 2020 and is higher that it was all years that preceded 2020.


Absent a crystal ball, my strategy today is the same as it was then. Buy, buy, and buy more equities.
by grettman
Tue Dec 13, 2022 9:14 am
Forum: Personal Investments
Topic: Confused about retirement system
Replies: 5
Views: 931

Confused about retirement system

Hi,

My wife works for a school system and there are three accounts that she contributes to. They are: 403b, 457b, and 401 (mandatory 1% contribution by employee but thinking of increasing due to match). I want to know:

1. If the IRS annual limit of $22,500 (2023) applies, in aggregate across the three?

2. Does any of the employer matching contributions count toward her annual limit? I have read the brochures and I’m confused!!! Can anyone help?
by grettman
Fri Dec 02, 2022 5:48 pm
Forum: Investing - Theory, News & General
Topic: ESG: This will drive me away from Vanguard
Replies: 23
Views: 3117

Re: ESG: This will drive me away from Vanguard

Waiting for the lock in 3…2..1….
by grettman
Mon Aug 29, 2022 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Death Benefits for FERS
Replies: 1
Views: 372

Death Benefits for FERS

I have somebody can help me. I have read the information available on OPM’s website over and over again and I just can’t seem to understand it.

I am a current federal employee (NOT retired)with about 32 years of Service. I am married and have never been divorced. My bottom line question is this, if I die before my minimum retirement age, which is 57 (currently I’m 51.5 yrs old), what is my spouse entitled to? Can she apply to receive my monthly retirement annuity without penalty or does she have to wait until my MRA? Based on what I’ve read it seems like there’s also a one time benefit payout of 50% of my annual salary or my high three which ever is highest. My main concern is about the annuity. When can it start penalty free?
by grettman
Thu Jul 07, 2022 11:37 am
Forum: Investing - Theory, News & General
Topic: in shock over loss of money in 403(b)
Replies: 131
Views: 16867

Re: in shock over loss of money in 403(b)

I “lost” $400k if it makes you feel better. I’ll do what I have always done. Nothing.
by grettman
Thu Jun 16, 2022 3:29 pm
Forum: Investing - Theory, News & General
Topic: This is AWESOME. A Dream Come True!
Replies: 23
Views: 2796

Re: This is AWESOME. A Dream Come True!

Charles Joseph wrote: Thu Jun 16, 2022 2:42 pm All I know is, this is very exciting, I've probably underestimated my risk tolerance as I've gotten closer to retirement, and 3-4 years out from walking away from work I wish I had piles more money to dump into stocks and bonds. I have $13.45 in cash right now. A 58-year-old man with $13.45 in cash. I have to wait until next week to invest more, and I'm salivating.

A bear market just a few years before retirement, with steady contributions continuing, is really a dream come true.

Life is great.

Actionable question: Am I missing something? Am I wrong?
You are missing so much I don’t know where to start. By the way, I embrace risk (95%+ in equities).
by grettman
Mon Jun 13, 2022 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Account locked at Treasury Direct and cannot get through on phone
Replies: 255
Views: 44621

Re: Account locked at Treasury Direct and cannot get through on phone

:idea:
Dmslax45 wrote: Mon Jun 13, 2022 5:39 pm Yea, calling in is brutal. I was locked out a few weeks ago and called in the afternoon with a 2 hr 45 min hold time. I was working while on hold and got another call about an hour in and the call dropped…

Called in the next day a little over 2 hrs before they closed and there was a message stating they weren’t fielding anymore calls because the hold time was longer than their hours.

I finally dialed in while I was doing yard work and was on hold for 2 hrs and 20 mins. Took them 1 minute to unlock my account.

Absolutely miserable experience
My account is locked. I need to gather the strength to deal with. This is our government at work for us.
by grettman
Mon Jun 13, 2022 10:59 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4650930

Re: U.S. stocks in free fall

Housing is slowing in the “recession proof” DMV area.

I was an investor during the financial crisis.

Buckle up folks! This could be a long ride!!!! Especially if you are retiring in less than 10.
by grettman
Mon May 30, 2022 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: What is the Worst Financial Decision/Mistake You Have Made?
Replies: 657
Views: 133001

Re: What is the Worst Financial Decision/Mistake You Have Made?

jef wrote: Mon May 30, 2022 5:14 pm well said
Every bull market is a fountain of regret. Every vacation, depreciating consumer good, restaurant meal, indulgence, etc. bought in the 2009-2015 time frame is a huge mistake because its hypothetical future value just keeps growing.
I would take that regret over laying in a bed dying with some disease wishing I spent that money to build memories and increase my level of happiness. If riding the bull while keeping every dollar close to the vest Brings you happiness then so be it. But vacations and some restaurant outings and a few consumer goods that increase happiness while not being too overly indulgent then I can understand that happening with no regrets.
by grettman
Wed May 11, 2022 11:09 am
Forum: Investing - Theory, News & General
Topic: Have a hard time believing most people here are not "timing the market" just a little
Replies: 86
Views: 9555

Re: Have a hard time believing most people here are not "timing the market" just a little

I have been timing my purchases every two weeks into the C fund for over 20 years and VTI for about 5.
by grettman
Sun Apr 03, 2022 6:40 am
Forum: Personal Investments
Topic: Navy Federal CU Roth IRA Maturing - What to Do?
Replies: 6
Views: 917

Navy Federal CU Roth IRA Maturing - What to Do?

Hi,

I have a ROTH IRA with Navy Federal that will mature in a few days. I do not want to renew the CD. Rather, I would like to roll the money over to another ROTH IRA account and invest it in VTI. But NFCU's only options for me are to renew the CD or have it dump to my checking or savings account (or send me a check). This would be a NO-NO because I am only 51 years old. What can I do so that these monies are transferred elsewhere so that I can invest it without penalty? Thanks in advance.
by grettman
Mon Mar 21, 2022 6:10 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software Child Tax Credit Error [solved]
Replies: 14
Views: 2040

SOLVED: Re: H&R Block Tax Software Child Tax Credit Error

Did you notice that the difference between your expected refund of a $1,253 refund and the IRS adjusted refund of $41 is $1212? This is the same amount that you think you received as an advanced child tax credit. If your 2020 return was married filing joint, you and your spouse each received your own letter for half of the advanced child tax credit received. These amounts are separate and must both be reported for an accurate return. They refer to two equal but different buckets of money. As a married couple, your IRS letter 6419 should say $606 if your total advanced child tax credit was $1212. Look here for more info: https://www.irs.gov/individuals/understanding-your-letter-6419 I believe the software you used had separate places to ent...
by grettman
Sun Mar 20, 2022 8:24 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software Child Tax Credit Error [solved]
Replies: 14
Views: 2040

Re: H&R Block Tax Software Child Tax Credit Error

Logon to irs.gov and go through your tax transcripts in detail. I did that. The details are sparse. They generally tell me what went wrong — child tax credit error - but say that I will get something in mail. Can you not follow along, line for line, and see what info is on 8812 and how it flows to the 1040 and related schedules? . This has helped me. I didn’t know about an IRS login. I have been checking the refund status page which was sparse. I got a hold of my transcript. It seems the IRS thinks I’m only entitled to 2,225 in CTC. I have two teenage kids and my MAGI (MFJ) is only about $170 k. I should be entitled to $4k in CTC. Right? I was in 2020! I received $1,212 in advance CTC payments so shouldn’t I be entitled to the balance $563?
by grettman
Sun Mar 20, 2022 7:06 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software Child Tax Credit Error [solved]
Replies: 14
Views: 2040

Re: H&R Block Tax Software Child Tax Credit Error

BLUF: I submitted my tax return via the H&R Block software and was supposed to get a $1,253 refund, however, the IRS adjusted it to $41. Per their status website, it was adjusted because there was an error with Schedule 8812. I won't know the exact details of what happened until I receive a letter from them in the mail but I am worried about what happened and if their calculations are accurate. I am also upset that H&R Block software allowed this to happen. I dug through the worksheets and the forms in the software and everything that I had to enter was correct so I am puzzled as to what happened. I definitely see that there was a mistake because given my MAGI is $176,489 (MFJ), I should not be entitled to the additional child tax ...
by grettman
Sun Mar 20, 2022 6:45 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software Child Tax Credit Error [solved]
Replies: 14
Views: 2040

H&R Block Tax Software Child Tax Credit Error [solved]

BLUF: I submitted my tax return via the H&R Block software and was supposed to get a $1,253 refund, however, the IRS adjusted it to $41. Per their status website, it was adjusted because there was an error with Schedule 8812. I won't know the exact details of what happened until I receive a letter from them in the mail but I am worried about what happened and if their calculations are accurate. I am also upset that H&R Block software allowed this to happen. I dug through the worksheets and the forms in the software and everything that I had to enter was correct so I am puzzled as to what happened. I definitely see that there was a mistake because given my MAGI is $176,489 (MFJ), I should not be entitled to the additional child tax c...
by grettman
Wed Mar 16, 2022 6:22 am
Forum: Investing - Theory, News & General
Topic: Is it time to GET OUT?
Replies: 189
Views: 23233

Re: Is it time to GET OUT?

peskypesky wrote: Wed Mar 16, 2022 1:05 am
AnnetteLouisan wrote: Tue Mar 15, 2022 10:53 pm
peskypesky wrote: Tue Mar 15, 2022 10:51 pm
JD2775 wrote: Fri Mar 13, 2020 6:54 pm Would all your replies be the same if OP was 45, instead of 34? Assuming they want to retire at 60?
I would tell a 45 year old to hold and buy more. Stocks are on sale in 2022.
I’m buying at at 55. For my 70s.
Same. I'm also 55. Buying for my 70s and 80s.
51 here.

90% equities.

Every paycheck about 90% of savings goes into equities.

The cash portion of savings is for home improvements.
by grettman
Thu Mar 10, 2022 8:56 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6651
Views: 1201669

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

HueyLD wrote: Thu Mar 10, 2022 8:46 am
grettman wrote: Thu Mar 10, 2022 8:40 am What does todays report on inflation mean for the upcoming adjustment in April?
Should the March CPI-U go up another 0.9% from that of February, the estimated annualized inflation adjustment for I bonds would be 8.72%.

Inflationary expectation is not a good thing!
Thank you for the help!
by grettman
Thu Mar 10, 2022 8:40 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6651
Views: 1201669

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

What does todays report on inflation mean for the upcoming adjustment in April?
by grettman
Thu Mar 10, 2022 5:02 am
Forum: Investing - Theory, News & General
Topic: "You don't lose money until you sell"
Replies: 564
Views: 43335

Re: "You don't lose money until you sell"

I don't agree with the statement.

You lose money when your portfolio drops.

Of course you do --- it is worth LESS money.
by grettman
Fri Feb 18, 2022 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Confirm If Minor Child Needs to Pay Tax
Replies: 5
Views: 773

Re: Confirm If Minor Child Needs to Pay Tax

SpaghettiMonster wrote: Fri Feb 18, 2022 6:30 am Just to clarify here, when you say the UTMA generated $1250, you mean that he earned $1250 from dividends and sale of assets? If it’s just a $1250 gain in value of the account, that doesn’t count as income.
The $1,250 was distributed long term cap gains and dividends.
by grettman
Fri Feb 18, 2022 5:16 am
Forum: Personal Finance (Not Investing)
Topic: Confirm If Minor Child Needs to Pay Tax
Replies: 5
Views: 773

Confirm If Minor Child Needs to Pay Tax

According to what I found on the IRS website, a child must pay taxes on unearned income (this is the only income my child has made) if the amount is greater that $1,100. My son's UTMA generated $1,250. Therefore, according to the IRS, I need to account for this on my taxes (or file taxes for him).

For you tax smart people, is this correct?

If so, does anyone know how I do this in H&R Block software (assuming I will file it with my taxes)? H&R will only let me assign 1099 income to either myself or my wife.

Any advice is appreciated.
by grettman
Wed Feb 16, 2022 4:53 am
Forum: Personal Investments
Topic: How on earth do you mentally ever get over losing $120,000 in stupid trading decisions?
Replies: 118
Views: 14192

Re: How on earth do you mentally ever get over losing $120,000 in stupid trading decisions?

I have lost money. The thing that helped the most was the passage of time. This isn't the most efficient way to "get over it" but it works. Especially, as your portfolio continues to go.
by grettman
Thu Feb 03, 2022 5:56 am
Forum: Personal Consumer Issues
Topic: home builder issues
Replies: 20
Views: 1999

Re: home builder issues

Why are you heating a house you don't own yet? (I never bought new construction so maybe this is a thing).

I wouldn't trust them to fix this at all. I wouldn't pay anything more until it is done.
by grettman
Sat Jan 29, 2022 8:49 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 22381
Views: 2119186

Re: U.S. stocks continue to soar!

I’ve surprised myself frankly at how cold blooded I’ve been during the market swings. Similar to March of 2020, only mildly perturbed, but of course I’m low on equities. Back then I delayed looking at my statements and I may skip January 31. No need to upset myself. Oh, I've looked at my account and I am shocked at how well I'm taking the decline. My comfort level with volatility has massively increased. I did not expect that. Maybe people like us are handling this well because so far the recent drops have been short and the recovery has been quick (relatively speaking). A true test of intestinal fortitude is have a large drop with a long (many years) of sideways returns. Combine that with being at or near retirement and feelings really ch...
by grettman
Thu Jan 27, 2022 4:25 pm
Forum: Personal Investments
Topic: Contributed $18 over IRS limit for 401k - how to fix?
Replies: 9
Views: 1357

Re: $18 OVER IRS LIMIT FOR 401K

exodusNH wrote: Thu Jan 27, 2022 2:55 pm
grettman wrote: Thu Jan 27, 2022 2:47 pm Bottom Line: My wife changed jobs over the summer. When I slightly overestimated her 401K contributions. She is under 50 and contributed 19518 in 2021.

What can I do to fix this? I assume I have to fix it!
I wouldn't worry about it. You'll just add $18 back to your income.

30 years from now, when you withdraw that $18, you will pay income tax on it again. Unless you're worried about another $4 in tax 30 years from now, it's not worth any effort to get the excess returned to you now. :)
I just don’t want the IRS to through the hammer at me.

Sounds like they won’t for this minor infraction.
by grettman
Thu Jan 27, 2022 4:23 pm
Forum: Personal Investments
Topic: Contributed $18 over IRS limit for 401k - how to fix?
Replies: 9
Views: 1357

Re: $18 OVER IRS LIMIT FOR 401K

fabdog wrote: Thu Jan 27, 2022 2:56 pm the search box is your friend here... many threads in this area... here's one

viewtopic.php?t=289710

As noted, may not be worth the effort for $18

Mike
Thanks!
by grettman
Thu Jan 27, 2022 2:47 pm
Forum: Personal Investments
Topic: Contributed $18 over IRS limit for 401k - how to fix?
Replies: 9
Views: 1357

Contributed $18 over IRS limit for 401k - how to fix?

[edited thread title for clarity - moderator prudent]

Bottom Line: My wife changed jobs over the summer. When I slightly overestimated her 401K contributions. She is under 50 and contributed 19518 in 2021.

What can I do to fix this? I assume I have to fix it!
by grettman
Wed Jan 26, 2022 11:24 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 22381
Views: 2119186

Re: U.S. stocks continue to soar!

peskypesky wrote: Wed Jan 26, 2022 11:12 am
jay22 wrote: Wed Jan 26, 2022 10:35 am Eagerly waiting for Mr. Powell's speech.
I'm preparing for the drop.
My wager is on RED. A deep crimson red.
by grettman
Sun Jan 23, 2022 6:05 am
Forum: Personal Investments
Topic: Retirement Podcast Recommendation??
Replies: 9
Views: 1226

Re: Retirement Podcast Recommendation??

"The Retirement Answer Man". I really it.
by grettman
Tue Jan 18, 2022 1:34 pm
Forum: Personal Investments
Topic: Decision to Withdraw from INHERITED IRA
Replies: 26
Views: 3330

Re: Decision to Withdraw from INHERITED IRA

CAsage wrote: Tue Jan 18, 2022 12:09 pm Is there some reason you have that Inherited IRA invested in a crummy savings account? Why not invest it in something else, like you would other investments? Not what you are asking, but it's still all yours now. Is that part of your overall plan?
Most of it is invested in SWTSX. This cash portion I want to move to bonds so that I can grow my bond position as I get closer to retirement.
by grettman
Mon Jan 17, 2022 1:32 pm
Forum: Personal Investments
Topic: Decision to Withdraw from INHERITED IRA
Replies: 26
Views: 3330

Re: Decision to Withdraw from INHERITED IRA

MTKRC wrote: Mon Jan 17, 2022 1:31 pm Under your scenario, my thought is that you are better off making the withdrawal now. If the Tax Cuts & Job Act expires in 2025, your income tax rate could revert to the previous level of 25%. Better to pay the taxes now at 22%...
I never thought about that! Thanks!
by grettman
Mon Jan 17, 2022 1:18 pm
Forum: Personal Investments
Topic: Decision to Withdraw from INHERITED IRA
Replies: 26
Views: 3330

Re: Decision to Withdraw from INHERITED IRA

Fortitude wrote: Mon Jan 17, 2022 1:16 pm
grettman wrote: Mon Jan 17, 2022 12:55 pm
Thanks. RMDs are no longer required of Inherited IRAs because they got rid of the stretch. Only requirement is all funds need to be withdrawn 10 years after death. Someone correct me if I’m wrong. Mom died in 2020 after the rules changed.
That’s correct. Pursuant to the SECURE Act passed in December 2019 pertaining to an inherited IRA received from a decedent who passed away after December 31, 2019:

“Generally, a designated beneficiary is required to liquidate the account by the end of the 10th year following the year of death of the IRA owner (this is known as the 10-year rule). During the 10-year period, the beneficiary may take distributions of any amount at any frequency”.
Thanks for the confirmation.
by grettman
Mon Jan 17, 2022 12:55 pm
Forum: Personal Investments
Topic: Decision to Withdraw from INHERITED IRA
Replies: 26
Views: 3330

Re: Decision to Withdraw from INHERITED IRA

Sand101 wrote: Mon Jan 17, 2022 12:24 pm Looks like you're stuck at 22% no matter what, so it really doesn't matter when you withdraw from a tax perspective. There is no telling where you'll actually be 10 years from now at the end of the tracks, so I wouldn't overthink it. All of this is under the assumption that this withdrawal satisfies your RMD, which is priority 1 with these vehicles.
Thanks. RMDs are no longer required of Inherited IRAs because they got rid of the stretch. Only requirement is all funds need to be withdrawn 10 years after death. Someone correct me if I’m wrong. Mom died in 2020 after the rules changed.
by grettman
Mon Jan 17, 2022 11:53 am
Forum: Personal Investments
Topic: Decision to Withdraw from INHERITED IRA
Replies: 26
Views: 3330

Decision to Withdraw from INHERITED IRA

BLUF: I am thinking about withdrawing $10,000 cash from an inherited traditional IRA which is currently making virtually 0.0% so that I can buy an I-BOND at the current rate of 7.12%. From a tax perspective, based on the info I provide below, I want to know if it makes no difference to withdraw this cash from my INHERITED IRA now or to wait until I retire (~6 years from now). I am NOT asking if investing in I-BONDs is the right thing to do. My question is only about the timing of this withdraw (do it now or wait until later) from a tax perspective. . MY THOUGHTS: From a tax perspective, it will make no difference because of the following facts and assumptions. 1. Withdrawing now will not impact the child tax credit I am currently getting be...
by grettman
Mon Jan 17, 2022 6:19 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Re: Embarrassing Math Question - Withdraw Formula

Thank you all for your help. I really appreciate the support from this community!
by grettman
Sun Jan 16, 2022 10:24 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Re: Embarrassing Math Question - Withdraw Formula

Since you're pulling the money to pay the taxes out of the tax deferred account you'll need to pay taxes and what you withdraw for the taxes. So, if you want to pay all the taxes due from the tax deferred account need need to account for this until you're ok with paying any remainder out of you non-tax deferred savings. So, Withdrawal = Amount Needed divided by (1-Tax Rate) To cover the additional taxes add this amount (Withdrawal - Amount Needed) * (Tax Rate) For your example it would be $6410 + ($6410-$5000)*(Tax Rate) = $6410+$310.2 = $6720.2 You'll need to repeat this until you're happy with the amount needed from your savings. In this example excess tax due is $310.2*.22 or $68.24 above what you withdrew. I don't understand this. If I...
by grettman
Sun Jan 16, 2022 9:50 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Re: Embarrassing Math Question - Withdraw Formula

diy60 wrote: Sun Jan 16, 2022 9:40 am
grettman wrote: Sun Jan 16, 2022 9:26 am By playing around (i.e., guessing) with numbers in excel, I know that I need to withdraw $6,410 to get the $5,000 I need PLUS the $1,410 I need for taxes.
OP, in addition to the excellent answers above, I would comment you are double counting the taxes.
How so? It is an inherited IRA (traditional) so taxes haven't been paid at all yet on these funds. I have to pay taxes (as ordinary income) when I withdraw. What am I missing?
by grettman
Sun Jan 16, 2022 9:48 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Re: Embarrassing Math Question - Withdraw Formula

Shallowpockets wrote: Sun Jan 16, 2022 9:43 am Your math may be good, but your premise is wrong. You are withdrawing from a tax deferred and paying taxes, AND penalty.
Then, you are poised to repeat it in the future.
The expense you have should be funded without compromising your tax deferred account.
This is not a math question.
It is an inherited IRA account. I am not subjected to a penalty.
by grettman
Sun Jan 16, 2022 9:39 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Re: Embarrassing Math Question - Withdraw Formula

Fortitude wrote: Sun Jan 16, 2022 9:35 am Total Withdrawal = Expense divided by (1-tax rate).

For example:

Total Withdrawal = $5,000 divided by (1-.22);

Therefore, Total Withdrawal = $5,000 divided by .78

Total Withdrawal = $6,410
Thank you and Student for the help!!!
by grettman
Sun Jan 16, 2022 9:26 am
Forum: Personal Investments
Topic: Embarrassing Math Question - Withdraw Formula
Replies: 19
Views: 2000

Embarrassing Math Question - Withdraw Formula

Math wasn't my strongest suit as you will see with my "dilemma":

Assume I want to pay for a $5,000 expense.

The source of the money will come from a tax deferred account (let's say an inherited IRA).

I have to pay 22% in taxes on what I withdraw.

By playing around (i.e., guessing) with numbers in excel, I know that I need to withdraw $6,410 to get the $5,000 I need PLUS the $1,410 I need for taxes.

What is the math formula for calculating these types of scenarios in the future so that I can do it more quickly? For instance, let's say I want to change my expense variable from $5,000 to $8,000. I might also want to change the tax rate from 22% to 24%. What formula will I use?
by grettman
Mon Jan 10, 2022 4:40 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4650930

Re: U.S. stocks in free fall

HomerJ wrote: Mon Jan 10, 2022 4:37 pm
newyorker wrote: Mon Jan 10, 2022 4:34 pm
BoogyBogle wrote: Mon Jan 10, 2022 11:50 am Wow, I would hate to be the person who dumped all 6k into their Roth IRA on January 3rd. But it was pretty obvious we were gonna go through a major correction pretty soon with the Fed stating during their December FOMC that 3 rate hikes were coming in 2022. That gives them power to hike rates this month and say that they gave everyone a heads up already.
How was it obvious? If so, why didn't you short it with your life saving?
Yeah, and what's obviously going to take place next?

And depending on the time horizon, who cares?
by grettman
Sat Jan 08, 2022 12:10 pm
Forum: Personal Consumer Issues
Topic: Favorite Purchases of 2021?
Replies: 203
Views: 19130

Re: Favorite Purchases of 2021?

Mustang GT w/PP1.
by grettman
Tue Jan 04, 2022 6:22 am
Forum: Personal Investments
Topic: ready to buy I Bonds for 2022 and have questions.
Replies: 17
Views: 2369

Re: ready to buy I Bonds for 2022 and have questions.

MrJedi wrote: Tue Jan 04, 2022 5:47 am
grettman wrote: Tue Jan 04, 2022 5:45 am
Mel Lindauer wrote: Sun Jan 02, 2022 7:11 pm You only earn interest for the month if you own the I Bonds on the last day of the month.
I bought 10,000 dollars in I bonds on December 24, 2021 but my account doesn't show I earned anything yet. My balance shows $10,000. Why is that? Wouldn't interest have posted on or around January 1, 2022?
Your first interest won't show up until after 4 months since there is a 3 month penalty if you don't hold for at least 5 years. You should see some interest on April 1, 2022 (4 months of interest minus 3 months of penalty)
Thanks!!!
by grettman
Tue Jan 04, 2022 5:45 am
Forum: Personal Investments
Topic: ready to buy I Bonds for 2022 and have questions.
Replies: 17
Views: 2369

Re: ready to buy I Bonds for 2022 and have questions.

Mel Lindauer wrote: Sun Jan 02, 2022 7:11 pm You only earn interest for the month if you own the I Bonds on the last day of the month.
I bought 10,000 dollars in I bonds on December 24, 2021 but my account doesn't show I earned anything yet. My balance shows $10,000. Why is that? Wouldn't interest have posted on or around January 1, 2022?
by grettman
Fri Dec 31, 2021 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072028

Re: Share your net worth progression

bluebolt wrote: Fri Dec 31, 2021 8:33 am
snackdog wrote: Fri Dec 31, 2021 7:09 am Small corrections, additions and log scale.

Please trim the graph out of any quotes so it doesn't fill up the whole discussion.

Image
Thanks for compiling and posting this. Great to see it in a graph like this.

This thread is selection bias on top of the general Bogleheads selection bias, so while interesting, the graph has a massive skew toward successful outcomes.
I frequent these posts to keep me humble. From a boglehead perspective, I am doing lackluster with a household NW of only $3 million (excluding home) at age 51. It motivates me to do better but I don't think I can move the needle any better.