Search found 192 matches

by jimishooch
Wed Jun 20, 2018 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Universal life insurance within ones Asset Allocation Model
Replies: 12
Views: 996

Re: Universal life insurance within ones Asset Allocation Model

did not include it in my AA but principle is included in my net worth...
by jimishooch
Tue Mar 20, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Annuity
Replies: 13
Views: 1086

Re: Annuity

is this annuity qualified or nonqualified?
by jimishooch
Tue Mar 20, 2018 11:43 am
Forum: Investing - Help with Personal Investments
Topic: vehicle for mother-in-law's cash assets
Replies: 9
Views: 691

Re: vehicle for mother-in-law's cash assets

you could always do a joint account as you the primary...
by jimishooch
Wed Feb 21, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 149
Views: 7915

Re: Long term care insurance

If it worked out great for you terrific. Unfortunately statistics will tell you most people will never get their money's worth out of a LTC policy. I prefer my children getting all of my money and not some LTC facility and there are multiple ways to get it free (medicaid) from your state if you pla...
by jimishooch
Tue Feb 20, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 149
Views: 7915

Re: Long term care insurance

RetiredCSProf wrote:
Tue Feb 20, 2018 12:26 am
I have an asset-based LTC policy with Lincoln Financial. I paid extra for an inflation rider. I purchased the policy with a single, lump sum premium so that I do not need to worry about annual increases in the premium.
+1...we also purchased the optional lifetime benefits rider.
by jimishooch
Wed Feb 07, 2018 11:29 am
Forum: Investing - Help with Personal Investments
Topic: CD Ladders or Tax-Exempt Bonds in Taxable
Replies: 5
Views: 1099

Re: CD Ladders or Tax-Exempt Bonds in Taxable

i do both,

brokerage CD ladder at vanguard (simple interest is not reinvested but goes to settlement account) and a muni bond ladder at fidelity. i hold all until maturity and reinvest.

good luck
jim
by jimishooch
Sat Feb 03, 2018 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help with annuity transfer/rollover
Replies: 2
Views: 200

Re: Help with annuity transfer/rollover

if it is indeed a non qualified annuity you can do a 1035 transfer into a vanguard variable annuity...vanguard would initiate the transfer.

i believe the 457 can be rolled over to a tIRA but consult with vanguard...

good luck
jim
by jimishooch
Thu Feb 01, 2018 8:28 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2331

Re: What to do with Ameriprise annuities

it's simple, once you annuitize (start taking regular monthly payments) that IRA (it doesn't matter what kind of annuity) within an annuity you must take the RMD within that IRA annuity. combining that IRA annuity RMD with other non annuity IRA RMDs is off the table. if you can take the annuity RMD ...
by jimishooch
Thu Feb 01, 2018 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2331

Re: What to do with Ameriprise annuities

itstoomuch wrote:
Thu Feb 01, 2018 5:24 pm
GLWB contracts are not QLACs.
that's not the point.
by jimishooch
Thu Feb 01, 2018 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2331

Re: What to do with Ameriprise annuities

the problem with RMDs in multiple IRAs in annuities is that you have to take the RMD from each IRA annuity separately (once annuitized). you can't combine total RMDs from all IRAs and take it from one IRA annuity once annuitized or vice/versa.
by jimishooch
Thu Feb 01, 2018 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2331

Re: What to do with Ameriprise annuities

i transferred 3 tIRA annuities to vanguard last year so i could manage upcoming RMDs with roth conversions...i kept my non qualified annuity with lifetime income as is.
by jimishooch
Thu Feb 01, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2331

Re: What to do with Ameriprise annuities

I have one more question. Can I move my IRAs (close the Ameriprise qualified annuity) and move it over to a brokerge house as IRAs? I tried asking my "advisor" and she got huffy and didn't answer on several occasions (red flag). a yes, you can transfer them over as IRAs. they will come over as a lu...
by jimishooch
Fri Jan 19, 2018 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Homestead question
Replies: 4
Views: 611

Re: Homestead question

call your county appraisal district. they'll help you out...
by jimishooch
Tue Jan 16, 2018 11:58 am
Forum: Investing - Theory, News & General
Topic: How to build a bond ladder?
Replies: 14
Views: 1168

Re: How to build a bond ladder?

i have a portion of my fixed income in individual muni bonds with a duration of no more than 2 years, i hold until maturity and reinvest.

i don't use bonds funds (personal choice) but CDs, HYS, Ibonds and munis.

good luck
jim
by jimishooch
Sun Jan 14, 2018 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: Need to move "safe" money to another place
Replies: 22
Views: 2767

Re: Need to move "safe" money to another place

Let me get this straight. It sounds like I have no good choices for moving this savings account money. The banks are FDIC insured but have no contingent beneficiaries. Vanguard (and probably Scottrade?) has no insurance but does have beneficiary choices. I'm good and worried now. Need a break. Will...
by jimishooch
Thu Jan 11, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Brokered CDs - often better return secondary market
Replies: 62
Views: 7371

Re: Brokered CDs - often better return secondary market

yeah, it's gone, always interested in what forum members are buying (not a lot of us on this forum)...2 year is about as far out as i'll go as i hold until maturity... thx jim I've been buying mainly in the 17-25 month range since mid-December, but have gone out as far as four years (1.975%, which ...
by jimishooch
Wed Jan 10, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Brokered CDs - often better return secondary market
Replies: 62
Views: 7371

Re: Brokered CDs - often better return secondary market

do you have the CUSIP for the bond you bought? thx jim Not sure why you want it, as the best muni bond deals change daily. But I'm glad to provide it anyway: 262579NS0. Searching on this CUSIP, I don't see any currently available. Searching earlier today, I did not find any deals that were nearly t...
by jimishooch
Wed Jan 10, 2018 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Brokered CDs - often better return secondary market
Replies: 62
Views: 7371

Re: Brokered CDs - often better return secondary market

So is it correct to assume that for comparison sake, if my commission schedule is $1/ $1000 face value (Vanguard 401k VBO), then I remove 10 bps divided by the term to the yield ( e.g. 2 bps on a 5y CD) (a simplification). Yes, this will be a very close estimate if not exact. If you have basic spre...
by jimishooch
Mon Jan 08, 2018 1:07 pm
Forum: Investing - Help with Personal Investments
Topic: Should I cash out my inherited annuity?
Replies: 10
Views: 941

Re: Should I cash out my inherited annuity?

If you keep it in an annuity, do you need to take out RMD’s? Just another factor. Yes, great point. I looked into it more and yes, I do need to take a RMD. So you look at the IRS life expectancy table, mine is about 49 years left, so you divide 40k by 49 years and you see I am required to take out ...
by jimishooch
Sat Dec 02, 2017 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - uh oh
Replies: 19
Views: 2879

Re: Backdoor Roth IRA - uh oh

I contributed to my and my wife's Roth IRA for 2017 early in the year (Jan of 2017), $11,000 total. She's gotten a few big bonuses during the year that put us at $257,000 gross income. We also both max our 401k's ($36,000 total) and live in California, filing jointly. How can I calculate if we shou...
by jimishooch
Wed Nov 29, 2017 11:50 am
Forum: Investing - Help with Personal Investments
Topic: Retirement: how to forecast where you’re at?
Replies: 43
Views: 5824

Re: Retirement: how to forecast where you’re at?

TheTimeLord wrote:
Mon Nov 27, 2017 5:33 pm
If you have an account with Fidelity they have a Retirement Planner that saves the values. I am sure you will get several other good suggestions from the BH.
+1
by jimishooch
Tue Nov 28, 2017 11:10 am
Forum: Investing - Help with Personal Investments
Topic: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?
Replies: 34
Views: 2562

Re: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?

Your math looks good. As you can see, the payback period is very short and from then on, you're putting that saved money in YOUR pocket rather than the insurance company's pocket. One thing to consider is when your next anniversary date is, since the surrender fee normally goes down by 1% per year....
by jimishooch
Tue Nov 28, 2017 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?
Replies: 34
Views: 2562

Re: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?

Your math looks good. As you can see, the payback period is very short and from then on, you're putting that saved money in YOUR pocket rather than the insurance company's pocket. One thing to consider is when your next anniversary date is, since the surrender fee normally goes down by 1% per year....
by jimishooch
Mon Nov 27, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: CPA in Austin-Retired friends with investment ?
Replies: 1
Views: 398

Re: CPA in Austin-Retired friends with investment ?

jane allen cpa......512.328.6800. set it up with ryan hill. he's in lakeway.
by jimishooch
Sat Nov 25, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Returns - How Long Do you Keep?
Replies: 56
Views: 5840

Re: Tax Returns - How Long Do you Keep?

hard copies and PDFs from 2000,

glad i did, in the middle of putting the basis together for IRAs started in 1998...
by jimishooch
Thu Nov 23, 2017 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss on Roth conversion question
Replies: 10
Views: 725

Re: Capital loss on Roth conversion question

forgot to mention that all contributions were nondeductible contributions... Such a small detail! In that case, the original $36940 has already been taxed. Only the amount above that will be taxed when you convert (assuming you filed Form 8606 each year you made a non-deductible contribution). $369...
by jimishooch
Thu Nov 23, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss on Roth conversion question
Replies: 10
Views: 725

Re: Capital loss on Roth conversion question

so contributions don't offset? The money in an IRA, 401k or pension has never been taxed. It is pre-taxed money that grows tax-deferred. You pay tax on it (and the growth) when you withdraw it. Or, in your case, when you convert it to a Roth IRA. Roth IRA money as "already been taxed", so it (and t...
by jimishooch
Thu Nov 23, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss on Roth conversion question
Replies: 10
Views: 725

Re: Capital loss on Roth conversion question

It's two steps. First you'll pay surrender charges on your annuity and essentially have cash in your traditional IRA account. Then you convert cash (or other asset) to a new Roth IRA conversion account. Your tax liability will be based on the amount you convert and your marginal tax bracket. If you...
by jimishooch
Thu Nov 23, 2017 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss on Roth conversion question
Replies: 10
Views: 725

Re: Capital loss on Roth conversion question

No. There are no capital gains or losses within IRAs or employer retirement plans. However, you now can convert some/all of it and pay less taxes on the conversion than if you had converted earlier! Good to know on the capital loss portion, When figuring tax liability on the conversion do i use the...
by jimishooch
Thu Nov 23, 2017 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Capital loss on Roth conversion question
Replies: 10
Views: 725

Capital loss on Roth conversion question

From 1998 to 2009 i contributed to a tIRA, all contributions are documented. In 2010 i wrapped this tIRA in a deferred income annuity. The total contributions were $36940.00. Due to market loss, upon transfer, the premium for the annuity was $24251.00. The plan is to transfer the annuity tIRA to my ...
by jimishooch
Sun Nov 19, 2017 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?
Replies: 34
Views: 2562

Re: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?

i'm in the same boat, have multiple deferred (income) indexed annuities with 3 years left on a 10 year surrender and the charges are still to steep so i re-evaluate every year. but i don't include these in my asset allocation as it's an income producing vehicle like social security... good luck jim...
by jimishooch
Tue Nov 14, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?
Replies: 34
Views: 2562

Re: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?

... have multiple deferred (income) indexed annuities with 3 years left on a 10 year surrender and the charges are still to steep so i re-evaluate every year. ... The surrender charges make up for some of the expenses that the insurance company would otherwise receive. So the surrender charges shou...
by jimishooch
Tue Nov 14, 2017 11:49 am
Forum: Investing - Help with Personal Investments
Topic: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?
Replies: 34
Views: 2562

Re: Annuity Exit Strategy Help Requested: Wife’s ROTH IRA – Allianz 222 Fixed Index Annuity – Stay or go? How?

i'm in the same boat,

have multiple deferred (income) indexed annuities with 3 years left on a 10 year surrender and the charges are still to steep so i re-evaluate every year.
but i don't include these in my asset allocation as it's an income producing vehicle like social security...

good luck
jim
by jimishooch
Sat Oct 21, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Turning 65, and choosing not to take Medicare Part B
Replies: 41
Views: 4784

Re: Turning 65, and choosing not to take Medicare Part B

turning 65 soon,
will sign up for part A only. employer sponsored plan is creditable (as is drug coverage) and will remain primary.
by jimishooch
Sat Oct 21, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding Transfer Fee---Will this work?
Replies: 15
Views: 1728

Re: Avoiding Transfer Fee---Will this work?

what's the fee if you setup auto transfer from the ally side? i bet it's zero...
by jimishooch
Fri Oct 20, 2017 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring Variable Annuity
Replies: 9
Views: 926

Re: Transferring Variable Annuity

why do a 1035?
transfer the roth in the annuity to a VG roth and the tIRA in the annuity to a VG tIRA and be done with variable annuity.
i just did this with roth IRA tucked into a deferred income/indexed annuity with no problem.
talk to vanguard.
by jimishooch
Fri Oct 06, 2017 12:22 pm
Forum: Investing - Theory, News & General
Topic: So... What bond fund or bond-like instrument do you use?
Replies: 68
Views: 7891

Re: So... What bond fund or bond-like instrument do you use?

brokerage 5 year CD ladder.
5 year muni bond ladder.
Ibonds.
high yield savings.
by jimishooch
Thu Sep 28, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Bill of Sale for Sailboat
Replies: 6
Views: 727

Re: Bill of Sale for Sailboat

of course the HIN,
i always add the engine and drive numbers.