Search found 77 matches

by retired early&luv it
Sat Nov 16, 2019 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: mechanics of paying a large tax bill
Replies: 42
Views: 2738

Re: mechanics of paying a large tax bill

Is there a reason you do not want to get Vanguard check writing on your settlement account and then use Vanguard checks to pay IRS? I use my Vanguard checks for five-digit estimated tax payments every few months. But I have never written a six digit check, if there is an upper limit on those checks ...
by retired early&luv it
Thu Nov 14, 2019 5:05 am
Forum: Personal Finance (Not Investing)
Topic: Employer requesting increased travel
Replies: 36
Views: 2949

Re: Employer requesting increased travel

Years ago I quit a job to get a job with less travel. That new job, I was assured would be less than 20 percent travel but I was on travel over 35 percent of the time, quit that job after two years when I was offered another one. The next job was less than 20 percent travel and I stayed with that em...
by retired early&luv it
Thu Nov 14, 2019 4:54 am
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 9761

Re: The difficulty of discarding frugality?

Don't worry about your frugal lifestyle. I am: - Vanguard Flagship level, - drive a 2003 truck, - am on Medicare (paying the Medicare high income penalty), - not yet taking Social Security because that would put me in a higher income tax bracket, - I do not clip coupons, but I do stock up at the gro...
by retired early&luv it
Sun Nov 10, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Basic Medicare Part B 2020 Premium $144.30 ??
Replies: 39
Views: 3027

Re: Basic Medicare Part B 2020 Premium $144.30 ??

Eagle33 wrote:
Fri Nov 08, 2019 8:25 pm
The medicare.gov site has $144.60 for 2020 Part B standard premium.
2020 Part B premiums

Part B deductible is $198 in 2020.
Thanks for posting, have been wondering what the costs next year would be.
by retired early&luv it
Sun Nov 10, 2019 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Costco Visa For Tavel Insurance
Replies: 6
Views: 800

Re: Costco Visa For Tavel Insurance

In the past I have bought travel insurance from Expedia when I bought plane tickets from the AARP/Expedia website. This past July when Expedia insisted that my flight on an Air Canada flight existed when Air Canada said no such flight with that flight number existed, no coverage for that.
by retired early&luv it
Mon Oct 28, 2019 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Flagship clients no longer have a personal rep
Replies: 48
Views: 4006

Re: Flagship clients no longer have a personal rep

Those that commented that free turbo tax is a small cost in the big picture, I agree. But I saw it as part of a trend of steadily cutting back more and more on customer service. Since Turbo Tax increases each year were well above inflation, each year I am reminded of those service cut backs. ... I i...
by retired early&luv it
Sun Oct 27, 2019 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Flagship clients no longer have a personal rep
Replies: 48
Views: 4006

Re: Flagship clients no longer have a personal rep

I do not recall when I stopped having a designated rep, but I am quite sure it was over a half year ago. Over 20 years ago when I opened my Vanguard account, I was a small investor at the bottom level. That was pre-internet, I was mailing checks and forms to them and sometimes if i was in a hurry I ...
by retired early&luv it
Sun Oct 27, 2019 9:26 am
Forum: Personal Finance (Not Investing)
Topic: TaxAct Discounts for 2019 version
Replies: 27
Views: 1910

Re: TaxAct Discounts for 2019 version

Do you think the online programs are safe to use? It kind of freaking me out to put all my info in one place like that. I have only used Turbo Tax on line. There are years of my data in one place, if my computer hard drive crashes or some other disaster, I feel better about my data being stored els...
by retired early&luv it
Sun Oct 13, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Cancellating and Insurance Rates
Replies: 27
Views: 1561

Re: Credit Card Cancellating and Insurance Rates

I don't know if this makes a different or not, but the person I am writing this for (doesn't use internet) has a credit card history going back 60 years with never a late payment and has only had one open credit card at a time, each for about 20 years, so let's say 3 credit cards his entire life. I...
by retired early&luv it
Sun Sep 22, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement - not worry about withdrawal rate, but focus on portfolio size?
Replies: 69
Views: 6424

Re: Early retirement - not worry about withdrawal rate, but focus on portfolio size?

I think a lot of the FIRE proponents (sorry, I do not recall what the acronym stands for) that retire early are overly-reliant on a nest egg that is unusually fat from recent above normal non-sustainable market returns. And by using a 3.5 or 4 or whatever percent withdrawal rate, they are asking for...
by retired early&luv it
Sun Jun 02, 2019 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Transaction Fee
Replies: 8
Views: 712

Re: Foreign Transaction Fee

I have had the BOA Cash Rewards card for years, 3 percent fee. Leave for a 5 week trip out of the country on Tuesday, recently got the BOA Travel Rewards card (in addition to the Cash Rewards card also from BOA) which has zero foreign currency fee specifically for this trip. Plus they have a nice si...
by retired early&luv it
Sun May 26, 2019 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Will my checks work?
Replies: 26
Views: 2014

Re: Will my checks work?

Back in the 1980s my bank was bought out, I kept using the checks until I ran out.

But, for some reason the deposit slips no longer worked correctly, my bank issued me a couple pads of new deposit slips.
by retired early&luv it
Sun May 19, 2019 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Aiming to Retire End of 2019 - Abit Scared
Replies: 45
Views: 6094

Re: Aiming to Retire End of 2019 - Abit Scared

You did much more financial planning than I did before I retired in my late 50s. But do you have a plan on what you will do to keep from getting bored. Early retirement is a huge culture shock. I retired and never looked back, I had enough hobbies and other activities to keep busy. Also, for several...
by retired early&luv it
Sun Apr 28, 2019 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Looking for Very High Travel Accident Insurance
Replies: 35
Views: 3125

Re: Looking for Very High Travel Accident Insurance

Update: I ended up just getting $1 million in accidental death and dismemberment insurance from Mutual of Omaha. ("This coverage pays up to $1,000,000 if death results from a covered accident while riding as a fare-paying passenger on a common carrier such as a boat, bus or airplane.") All worked o...
by retired early&luv it
Sun Apr 28, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Condo costs
Replies: 16
Views: 1578

Re: Condo costs

Ask for a copy of the condo association annual budget and ask the status of their reserve fund. And ask for the definition of the unit. The annual budget would tell you what your condo dues cover. If water, garbage disposal, etc., not in the budget then you may have to pay for it. One exception is t...
by retired early&luv it
Sun Apr 21, 2019 9:49 am
Forum: Personal Finance (Not Investing)
Topic: leaving state job / pension. ..... bad idea?
Replies: 44
Views: 3898

Re: leaving state job / pension. ..... bad idea?

I assume you will also be able to draw social security if you keep your state job? Or are you in one of the states where your pension is the only thing you get? If you are in one of these states, look into the rules for social security, as having that pension and also trying to draw social security ...
by retired early&luv it
Sun Feb 24, 2019 9:45 am
Forum: Personal Finance (Not Investing)
Topic: IRS "tax refund" for $53 - but we haven't filed yet
Replies: 58
Views: 7068

Re: IRS "tax refund" for $53 - but we haven't filed yet

After hearing about the scams of people filing tax returns in names of other people and claiming big refunds, I set up an IRS account so I can check status. Once a week starting at end of January I have been checking to make sure nobody has filed for me, it is in my electronic calendar to remind me ...
by retired early&luv it
Sun Nov 11, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Best free online tax return predictor?
Replies: 11
Views: 1588

Re: Best free online tax return predictor?

I used to use Turbo Tax Taxcaster web based on line calculator on my computer. But for the past couple years I found that I got more information when I used the Android Taxcaster app instead of using their web based on line calculator. https://play.google.com/store/apps/details?id=com.intuit.mobile....
by retired early&luv it
Sun Nov 11, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: State retirement pensions thoughts?
Replies: 36
Views: 4099

Re: State retirement pensions thoughts?

I all depends on the state you are in. I am in Wisconsin, since the 90s that state pension system has been nearly fully funded every year. It has been a very well run pension system, they have a top notch investment staff of CFAs. But, it does not have an automatic COLA. Instead it has a system wher...
by retired early&luv it
Sun Nov 11, 2018 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone know why SSA has to be notified if you go outside the USA for 30 consecutive days or longer?
Replies: 19
Views: 3692

Re: Does anyone know why SSA has to be notified if you go outside the USA for 30 consecutive days or longer?

I just ran the on line tool for a couple of countries that I might go to in the next several years. https://www.ssa.gov/international/payments_outsideUS.html It gave this generic answer for all of them. As a United States citizen, you may receive your Social Security payments outside the United Stat...
by retired early&luv it
Sun Nov 04, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion - Confirming Tax Analysis
Replies: 10
Views: 811

Re: Roth Conversion - Confirming Tax Analysis

I always did my estimates of tax brackets, etc., in December when my taxable dividends and taxable cap gain distributions could be estimated. And I used Turbo Tax Taxcaster app on my Android phone to make the estimates. For several years I would plug in different what if numbers for a conversion. Ta...
by retired early&luv it
Sun Nov 04, 2018 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for EOY 2018 Taxes
Replies: 7
Views: 1302

Re: Preparing for EOY 2018 Taxes

If you have mutual funds in a taxable account, watch the "realized capital gain" per share for each fund, and you can estimate what your gains will be. With more people selling out of active funds and with the assets in those funds gaining appreciation, those cap gain distributions are getting highe...
by retired early&luv it
Sun Oct 28, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: If On Medicare Before SS, How Do You Pay?
Replies: 47
Views: 4638

Re: If On Medicare Before SS, How Do You Pay?

DW just started for November. They bill you for three months at a time, with the next bill reflecting any rate increase imposed for January of next year. Choices are to mail a check or credit card info, use your bank's online bill pay, or set up direct withdrawal. We are using credit card payment t...
by retired early&luv it
Sun Oct 07, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Should I take a pretty big pay cut to become a diplomat?
Replies: 32
Views: 4075

Re: Should I take a pretty big pay cut to become a diplomat?

I took about a 20 percent pay cut in 1990 to leave an engineering consulting job at age 37 to work for a state agency. Stress level dropped dramatically and that one aspect made It worth it. But, I was unemployed in the early 1980s for over a year an a half (when Reagonomics pushed unemployment over...
by retired early&luv it
Sun Sep 30, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: How to merge three brokerage accounts at Vanguard?
Replies: 11
Views: 1842

Re: How to merge three brokerage accounts at Vanguard?

I have two taxable accounts at Vanguard. I have transfered shares of funds from one account to the other. When I did that, the shares were not sold, that would trigger a taxable event, instead the shares were just moved from one account to the other which is what I wanted. And the cost basis of the ...
by retired early&luv it
Sun Sep 16, 2018 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 10386

Re: Delaying Social Security Until 70

I am not answering your question here, instead I am giving you one caution to watch for. Apparently the social security staff often give a recipient a lump sum representing half of a year of benefits and then calculate your retirement based on an age of 69.5 instead of 70. Make sure you tell them yo...
by retired early&luv it
Sun Sep 16, 2018 5:34 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 54
Views: 8752

Re: How did you decide when to retire?

I can't advise on finances, but to answer the question how did you decide to retire? I got a new boss. After he made several really stupid decisions I decided to take a reduced pension and get out faster.
by retired early&luv it
Sun Jul 15, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Cash out 401K
Replies: 15
Views: 2123

Re: Cash out 401K

Converting it to a Roth would cost no more in taxes than taking it all as cash. I am not sure the rules, if a conversion would mean you can't withdraw it for a while that could of course be a deal breaker. If you do not want to do the Roth, you could put it all into a Rollover IRA. Then you can with...
by retired early&luv it
Sat Jun 23, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes from dividends getting high.. how to handle?
Replies: 24
Views: 3109

Re: Taxes from dividends getting high.. how to handle?

Every year when I was working, I changed my withholding to make sure I did not have any penalties for under withholding. And I was putting in the legal maximum into a 457 plan (govt employee equivalent to a 401k). Plus funding a Roth IRA to the legal maximum. That meant that I had very little take h...
by retired early&luv it
Sun Jun 17, 2018 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Tax Strategy
Replies: 7
Views: 1254

Re: Capital Gains Tax Strategy

I sold a lot in the last year. My strategy was: I had one fund that I did not want to sell, that fund is closed to new investors and limits additional purchases to existing fund owners. Thus if I sold some of it, I would not be able to buy much of it back later. It is a great fund, so that fund I am...
by retired early&luv it
Sun Jun 17, 2018 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 6526

Re: Lost job. Take early SS or draw from accounts?

She should take advantage of being in a low tax bracket this year if she does not get a good job later in the year and convert some of her tax deferred retirement account to a Roth. And use her taxable account as her spending money source. That is the advice I gave my sister several years ago when s...
by retired early&luv it
Sun May 20, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 156
Views: 49351

Re: Is the first 100k really the hardest?

It is all luck. If the market tanks, your $100k is worth less and might stay worth less for a few years. But if the market does great, having that first $100k gives you a tailwind. I would say that the first $100k is hardest because early in your career you are accumulating a household full of stuff...
by retired early&luv it
Sun Apr 01, 2018 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Hit by AMT due to 1 year RSU vesting cliff
Replies: 29
Views: 3168

Re: Hit by AMT due to 1 year RSU vesting cliff

Side note: Make sure your withholding is high enough to avoid underpayment penalty for 2018 income taxes. Or pay estimated quarterly taxes.
by retired early&luv it
Sat Mar 03, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion: Does It Make Sense?
Replies: 32
Views: 3915

Re: Roth Conversion: Does It Make Sense?

Most years since I retired, I converted some of my Rollover IRA to the Roth. That IRA started out as a 457 plan that I converted to the Rollover IRA after I retired. I moved the 457 to the Rollover IRA so that it would be easier to do a bit of a conversion each year. Can do that on-line at Vanguard ...
by retired early&luv it
Sat Mar 03, 2018 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Safe to File Income Tax Now?
Replies: 13
Views: 1343

Re: Safe to File Income Tax Now?

I usually file in early to mid March, but not earlier because of the chance of an amended 1099. Amended 1099s that I received in the past would always have lowered my taxes but by such a small amount it was not worth amending a return. I think the only issue was how much of an dividend was qualified...
by retired early&luv it
Sun Feb 18, 2018 9:12 am
Forum: Non-US Investing
Topic: Retiring abroad. Move taxable/checking accounts to Schwab?
Replies: 36
Views: 6410

Re: Retiring abroad. Move taxable/checking accounts to Schwab?

My only comment is on the retirement accounts. I highly recommend moving the 401k to Rollover IRA at the same institution as the Roth. That way it makes it very easy to each year to convert some of the IRA to the Roth. I converted all of my IRA to a Roth over seven years, finished that process last ...
by retired early&luv it
Sun Oct 29, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: VG free turbo tax?
Replies: 26
Views: 3050

Re: VG free turbo tax?

I also was quite disappointed to see the free TT disappear for flagship. And the price that I have to pay for TT each year goes up by a lot more than the rate of inflation each year. Vanguard is getting too big, not trying as hard to keep their customers happy as they used to. Maybe too many Vanguar...
by retired early&luv it
Sun Sep 24, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 11971

Re: Age you retired

56.5. A few years before I retired I had set a target of 57 but I got a new boss and I decided an extra half year of work was not worth it. I became unemployed for over a year and a half back in the 1980s during the last time that unemployment was over 10 percent. Reaganomics wiped me out financiall...
by retired early&luv it
Sun Aug 13, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: IRA withdrawal tax aConsider couple on Medicare and over 70.5 years of age. They must take RMDsnd Medicare implications
Replies: 13
Views: 1702

Re: IRA withdrawal tax aConsider couple on Medicare and over 70.5 years of age. They must take RMDsnd Medicare implicat

I have had good luck with tax caster, but when it comes to income impacts on medicare premiums I make my own spreadsheet and calculate how much I can convert from my IRA to Roth in late December after my cap gain distributions and dividends are actual numbers instead of estimates. A small error can ...
by retired early&luv it
Sun Jul 30, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate your retirement number
Replies: 95
Views: 12640

Re: How to calcuate your retirement number

It is dangerous to calculate a number and then retire when you reach it. I suspect a lot of people that retired when they hit their number in summer 2007 at a market peak based on 4 percent rule regretted it later when the market tanked. Thus, plan with a LOT of contingency and assume you will have ...
by retired early&luv it
Sun Jul 23, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Delaying pension benefits - what would you do?
Replies: 21
Views: 5150

Re: Delaying pension benefits - what would you do?

But, what do you want to do? Do you want to work? Do you want to travel? I planned to work longer, then I got a new boss that made really bad decisions. I decided that I would rather retire earlier, and I have not regretted a reduced pension to get out faster. But, if I had kept my old boss, I would...
by retired early&luv it
Sat Jun 10, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 7542

Re: Is there a calculator that solves for optimal Roth conversion

No calculator that I know of. Since the ACA cutoff is not gradual, that is likely the most important critical number you need to worry about. Medicare premium setting is more gradual, slightly. Since there are only a couple years where you can get ACA credits while you are also trying to keep income...
by retired early&luv it
Sun Apr 23, 2017 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 25597

Re: Any regrets living a frugal life for high income/high networth individuals?

I lost my job during the early 80s when unemployment was double digits during Reaganomics. I financially was wiped out and had to move back in with my parents. I was unemployed for over a year and a half. When I finally found a really bad job that had zero benefits, I had to start all over re-buildi...
by retired early&luv it
Sun Nov 27, 2016 10:49 am
Forum: Non-US Investing
Topic: World Travel Insurance, Worth it?
Replies: 35
Views: 6582

Re: World Travel Insurance, Worth it?

My longest overseas trip was a month. I was happy to pay $49 for travel insurance (I bought it with my plane ticket from AARP/Expedia) that had some health care component since I was bicycling for a month with my camping gear. Never needed it but I was happy to pay it. For you, $1300 for a year, tha...
by retired early&luv it
Sun Nov 27, 2016 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Reducing federal withholding
Replies: 9
Views: 1994

Re: Reducing federal withholding

I regularly use 9 exemptions. I think my former employer only allowed a one digit number in their computer system, I tried 10 but it became 9. The reason I did that was that I wanted a certain dollar amount for withholding and they could not figure out how to do it unless I used a really big number ...
by retired early&luv it
Sun Oct 30, 2016 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Count pension as a form of retirement savings.
Replies: 56
Views: 9694

Re: Count pension as a form of retirement savings.

... 1) It is a state pension (New Jersey) I am civil servant. I can retire at 50 in ~19 years with 60% of my last years salary or 55 ~24 years with 65% of my last years salary. ... So, you are 19 to 24 years away from 50 or 55, so your current age is 31? And you want to retire at 50 to 55? And you ...
by retired early&luv it
Tue Aug 16, 2016 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Investing Condominium Funds
Replies: 20
Views: 2818

Re: Investing Condominium Funds

If you are in charge of investing your condominium association assets, you are likely a fiduciary. In the late 1990s I recall that our condo association manager wanted to put the condo assets in a guaranteed investment with a 10 percent return that his commissioned broker tried to sell him. That of ...
by retired early&luv it
Tue Aug 16, 2016 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Self-made Millionaires: how did hitting 7 figures change you?
Replies: 304
Views: 57596

Re: Self-made Millionaires: how did hitting 7 figures change you?

Decades of frugality got me there, there was no reason to change that. I think I celebrated by buying a desert with a meal at McDonalds.
by retired early&luv it
Sun Aug 14, 2016 7:54 am
Forum: Personal Finance (Not Investing)
Topic: How many credit cards are too many?
Replies: 57
Views: 6737

Re: How many credit cards are too many?

I had four credit cards, usually used two in any given month. All four were rewards cards, no annual fee and three had a three percent foreign currency conversion fee. I got a fifth rewards credit card with a lower foreign currency conversion fee for a month long trip to Europe this past June and Ju...
by retired early&luv it
Sun Aug 14, 2016 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Retirement budgets
Replies: 20
Views: 2943

Re: Retirement budgets

From your expenses, I suspect you are in a higher income range. That means that your medicare premiums could be quite high, so think about that too. I am currently 62 but my preliminary analysis of what happens to me when I go on medicare is not pretty, as my income is likely to put me in a very exp...