Search found 191 matches

by TresBelle65
Wed Jan 15, 2020 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation issues with more than one state of residence?
Replies: 15
Views: 1021

Re: Taxation issues with more than one state of residence?

Therefore, a part-year resident taxpayer would need to be present in the State for more than 183 days during the non-resident period to be classified as a statutory resident. This legislation amends the New York tax law to provide that the 183-day test includes all the days in the year, both pre- a...
by TresBelle65
Wed Jan 15, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation issues with more than one state of residence?
Replies: 15
Views: 1021

Re: Taxation issues with more than one state of residence?

If you have a permanent place of abode in New York for substantially all of the taxable year and spend more than 183 days in the state, you may be a full year resident of New York instead of a part year resident. I was planning to move this coming June, so I may want to reconsider a few days. Thanks
by TresBelle65
Tue Jan 14, 2020 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation issues with more than one state of residence?
Replies: 15
Views: 1021

Re: Taxation issues with more than one state of residence?

Leaving Virginia for New York later this year.
by TresBelle65
Tue Jan 14, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation issues with more than one state of residence?
Replies: 15
Views: 1021

Taxation issues with more than one state of residence?

I'll be retiring in a couple of months and moving to another state for retirement. I am expecting that nearly all of my earned income for 2020 will be earned in the state I live in now. I expect to have mostly passive income in my new state. How does that work for tax purporses ? (I have lived in th...
by TresBelle65
Tue Jan 14, 2020 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Do you plan to actually spend down your portfolio?
Replies: 310
Views: 23450

Re: Do you plan to actually spend down your portfolio?

Lots and lots of posters in this thread seem to have devoted much of their life's resources in order to be able to turn those funds over to the long term care industry, if needed. What are the options for long term care? - a facility - paying someone(s) to come to your home and care for you full tim...
by TresBelle65
Mon Jan 13, 2020 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Family member with almost no retirement savings or assets, what to do?
Replies: 55
Views: 7129

Re: Family member with almost no retirement savings or assets, what to do?

Even though he's already on it - I would suggest he join some extreme frugality groups to work the expense side of the situation. Lots of them on Facebook. People getting free meals, groceries and the like - all the time in these groups. As far as the income side of the situation, if he cannot work ...
by TresBelle65
Sat Jan 11, 2020 11:22 am
Forum: Personal Investments
Topic: Pulling the Retirement Plug - SORR & Post Retirement Portfolio?
Replies: 6
Views: 582

Re: Pulling the Retirement Plug - SORR & Post Retirement Portfolio?

Thank you all for the input so far. I have added the asset allocation percentages to the original post: Current retirement assets by allocation percentage: Domestic Equity 23% International Equity 8% Bonds 47% Cash 22% = 100% Further, pension income will only be about $12,000/year with an additional...
by TresBelle65
Sat Jan 11, 2020 9:41 am
Forum: Personal Investments
Topic: Pulling the Retirement Plug - SORR & Post Retirement Portfolio?
Replies: 6
Views: 582

Pulling the Retirement Plug - SORR & Post Retirement Portfolio?

I would really appreciate any and all advice here. I am planning to retire (federal career, following a private industry career) in a few months, April 2020, after nearly 35 years of working. Emergency funds: Yes Debt: No debt Age: I just hit 59.5 Tax Filing Status: Single, Divorced Tax Rate: 24% Fe...
by TresBelle65
Mon Jan 06, 2020 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Minor Children as beneficiaries?
Replies: 13
Views: 925

Minor Children as beneficiaries?

If I name a minor child (not my own child) as a beneficiary on one of my accounts, would the funds be automatically disbursed to the parent or guardian? (I realize there may be state differences?) Would I need to establish a trust to avoid that? Appreciate any comments in this area, or any personal ...
by TresBelle65
Tue Dec 31, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring Fed, Final Annual Leave Payout check question
Replies: 1
Views: 393

Retiring Fed, Final Annual Leave Payout check question

Attempting to estimate the dollar value of my final annual leave payout check that will come after retirement happens. I am planning for the following deductions taken from gross value: - Social Security withholding - Federal Tax - State Tax (based on the state I live in) Is that it? shouldn't be an...
by TresBelle65
Tue Dec 31, 2019 5:10 pm
Forum: Personal Investments
Topic: Roth IRA contributions in the year of retirement
Replies: 19
Views: 1026

Re: Roth IRA contributions in the year of retirement

A final check will be sent as a final dollar payout of unused vacation leave. It will be substantial. Is unused leave time usually considered under the category of wages?
by TresBelle65
Tue Dec 31, 2019 8:52 am
Forum: Personal Investments
Topic: Roth IRA contributions in the year of retirement
Replies: 19
Views: 1026

Re: Roth IRA contributions in the year of retirement

So in a nutshell,

If a person over 50 wants to contribute the max to a 401k, including catch up contributions, as well as to a Roth IRA in 2020 -

one has to have earnings in 2020 of - a minimum of $19.5K + $6.5K + $7 = $33K minimum?

again, confirming - thanks all
by TresBelle65
Tue Dec 31, 2019 7:13 am
Forum: Personal Investments
Topic: Roth IRA contributions in the year of retirement
Replies: 19
Views: 1026

Roth IRA contributions in the year of retirement

I'll be retiring before the end of the first quarter of 2020. I would like to make a 2020 contribution to my Roth IRA. I came across this statement: You can contribute one lump sum or make smaller contributions over the course of the year, as long as your contributions don't exceed $6,000 ($7,000 if...
by TresBelle65
Tue Dec 31, 2019 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Fed Employee Front Loading the TSP for 2020?
Replies: 34
Views: 1996

Re: Fed Employee Front Loading the TSP for 2020?

I am thinking to do the same. I have little confidence in the HR/payroll staff at my agency, so wondering whether a percentage or flat amount is best in my case..with a flat amount I would attempt to calculate all the withholdings myself, with a percentage, I could leave it up to them...eek.
by TresBelle65
Sat Dec 14, 2019 5:36 am
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 630
Views: 86605

Re: Flaunt Your High-Mileage Car

Ever so slightly off topic, flaunting my low mileage car:

2013 Toyota RAV4 - 28K miles - I know, it's just a grocery getter

I want to replace it with a new ride in 2020, something bigger and a bit more luxe.

I hope I can someone like you all who will appreciate it...pun maybe intended lol.
by TresBelle65
Fri Dec 13, 2019 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: State Taxes: Interesting State Border Towns? (E.g., Low Income Tax, Property Tax, Sales Tax combo?)
Replies: 34
Views: 3256

Re: State Taxes: Interesting State Border Towns? (E.g., Low Income Tax, Property Tax, Sales Tax combo?)

I recall hearing how folks who live in the Florida Panhandle bounce back and forth across the Alabama line for some reason...I think living in Alabama, but get groceries in Florida. IIRC, AL has an egregious sales tax rate, even on groceries.
by TresBelle65
Fri Dec 13, 2019 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity 401k to a Fidelity IRA?
Replies: 6
Views: 338

Fidelity 401k to a Fidelity IRA?

I have a 401K account from a former employer, with Fidelity. For various reasons not worth going into, I want to keep it at Fidelity for now, but the fund options are limited. I tried looking online, but did not see an option to just rollover those funds to a Fidelity IRA. Mostly I keep finding info...
by TresBelle65
Thu Dec 12, 2019 6:30 am
Forum: Personal Finance (Not Investing)
Topic: GEHA HDHP/HSABank Arrangement - Changeable?
Replies: 9
Views: 563

Re: GEHA HDHP/HSABank Arrangement - Changeable?

Ok, so the upshot here is that I have to stay with HSABank if I have GEHA but I don't have to continue using Ameritrade - I can use whatever brokerage I want?

Is that correct?

I ask because I am not thrilled with either of these institutions and would like options, if possible.

Again, thank you
by TresBelle65
Wed Dec 11, 2019 10:12 pm
Forum: Personal Consumer Issues
Topic: Disposable Contact Lenses - best ordering site?
Replies: 6
Views: 667

Disposable Contact Lenses - best ordering site?

Do you have a recommended website for competitively priced contact lenses?

Thank you.
by TresBelle65
Wed Dec 11, 2019 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: GEHA HDHP/HSABank Arrangement - Changeable?
Replies: 9
Views: 563

GEHA HDHP/HSABank Arrangement - Changeable?

I'm retiring from the feds soon, but plan to keep my HSA and self-fund.

Currently, through GEHA, the arrangement is with HSABank ->> Ameritrade.

When I leave the feds, I plan to keep GEHA/HDHP in retirement. Do I have to stay with HSABank for my HSA even if I keep GEHA? does anyone know? Thanks
by TresBelle65
Wed Dec 11, 2019 7:18 am
Forum: Personal Finance (Not Investing)
Topic: What is the best 2% cash back credit card w/ no annual fee, now that Citi has stripped the Double Cash of key benefits?
Replies: 83
Views: 9086

Re: What is the best 2% cash back credit card w/ no annual fee, now that Citi has stripped the Double Cash of key benefi

American Express Blue Business pays me 2% cashback....or I can take it in the form of Membership Rewards and often extract a greater value. Many blog articles on how to do this.

American Express, in my experience, is a whole lot easier to deal with than BofA.
by TresBelle65
Wed Dec 11, 2019 7:08 am
Forum: Personal Consumer Issues
Topic: Reverse Snowbirds?
Replies: 35
Views: 4038

Re: Reverse Snowbirds?

The summer area we are considered a return to is known primarily for colleges and ski resorts (not much else there), so this is what has partly factored into this brainstorm.
by TresBelle65
Tue Dec 10, 2019 8:20 pm
Forum: Personal Consumer Issues
Topic: Reverse Snowbirds?
Replies: 35
Views: 4038

Reverse Snowbirds?

The typical snowbird seems to have a permanent home, then heads south for the winter, only to return home in the spring. We are contemplating something different - we are seeking to leave our home in the north, to purchase a permanent home in Florida, returning north for the summers...our northern l...
by TresBelle65
Sun Dec 01, 2019 7:45 am
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8245

Re: Yet Another Retiring to Florida Thread - Pros/Cons

Understandably, weather and taxes appear to be the biggest drivers in the decision for most, but no one has mentioned two other factors and these are important to me: recreation and vibe. Where else on the east coast are you going to find drum circles at sunset? I am a huge fan of live music, so FLA...
by TresBelle65
Sat Nov 30, 2019 9:14 pm
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8245

Re: Yet Another Retiring to Florida Thread - Pros/Cons

Although climate and climate change is a factor, can we avoid getting the thread locked, please?
by TresBelle65
Fri Nov 29, 2019 8:49 am
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8245

Re: Yet Another Retiring to Florida Thread - Pros/Cons

Do you care about proximity to family and current friends? For many, this drives their location decisions . Yes, this has been driving the location decision. Everyone I know lives up and down the coast. It could be daunting to move farther west, unless one relocated to a retirement community - wher...
by TresBelle65
Fri Nov 29, 2019 7:23 am
Forum: Personal Consumer Issues
Topic: Yet Another Retiring to Florida Thread - Pros/Cons
Replies: 87
Views: 8245

Yet Another Retiring to Florida Thread - Pros/Cons

I'm retiring in 2020 and leaving my large urban city (Wash DC) after many years. I need a location that's less expensive and less intense...even other urban locations have a less serious vibe. I am an East Coast person, so I've taken a few trips in the past few years to look for retirement locations...
by TresBelle65
Mon Nov 25, 2019 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Regular TSP & Roth TSP and 5 year rule?
Replies: 1
Views: 373

Regular TSP & Roth TSP and 5 year rule?

I am a federal employee planning to retire in the 1st quarter of 2020. I have a longstanding TSP account. I was considering that since my income for 2020 will be low, it would be better to contribute to a Roth TSP in 2020 versus the regular TSP - I won't have a need for sheltering in 2020. I looked ...
by TresBelle65
Mon Nov 25, 2019 4:00 am
Forum: Personal Finance (Not Investing)
Topic: Strategies for MRA+10 & Postponing the Pension until 62?
Replies: 10
Views: 769

Re: Strategies for MRA+10 & Postponing the Pension until 62?

I just checked the rules of TCC, if I were stay another year to bridge me to age 62.

In addition to my own portion of the premium, I would also have to pay the government's portion... in exchange for roughly an additional couple hundred bucks/month in retirement...does not seem worth it, overall.
by TresBelle65
Sun Nov 24, 2019 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Strategies for MRA+10 & Postponing the Pension until 62?
Replies: 10
Views: 769

Re: Strategies for MRA+10 & Postponing the Pension until 62?

I just thought of something...if I could possibly stand to work until age 60.5 (January 2021), I could possibly keep my FEHB under Cobra, (18 months) and thereby avoid a reduced pension. On the other hand, reduced pensions are a much bigger deal for long time feds, since the pension is such a signif...
by TresBelle65
Sun Nov 24, 2019 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Strategies for MRA+10 & Postponing the Pension until 62?
Replies: 10
Views: 769

Re: Strategies for MRA+10 & Postponing the Pension until 62?

No, as of right now, I am just over 10 years.

Thank you though.
by TresBelle65
Sun Nov 24, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Strategies for MRA+10 & Postponing the Pension until 62?
Replies: 10
Views: 769

Strategies for MRA+10 & Postponing the Pension until 62?

I am a federal employee and have been planning to retire at 59.5 under MRA+10 (in the first quarter of 2020). I will reach 62, in July of 2022. I have started to consider going out at MRA+10 and deferring (or postponing?) the annuity until age 62, at which point I would get an unreduced annuity and ...
by TresBelle65
Fri Nov 15, 2019 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: High Income to Low Income - Tax implications?
Replies: 4
Views: 713

High Income to Low Income - Tax implications?

For the past couple of decades, my mindset has wrapped around sheltering income, lowering tax obligations on a relatively high income. I'll be retiring in 2020 and my income will plunge. I have never considered the flip side - tax strategies I can implement with a low income (beyond Roth conversions...
by TresBelle65
Fri Nov 15, 2019 4:07 pm
Forum: Personal Investments
Topic: Converting 401k to a Roth IRA?
Replies: 2
Views: 302

Re: Converting 401k to a Roth IRA?

Thank you. I understand the general nature of the transactions and purpose, looks like I need to focus is on how it will work with my 401k - as opposed to a T-IRA and how much per year, but it looks like that will be an annual calculation in the future...
by TresBelle65
Fri Nov 15, 2019 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Continuing to contribute to an HSA after retirement?
Replies: 6
Views: 518

Re: Continuing to contribute to an HSA after retirement?

As far as front loading, there’s nothing stopping you from making the full contribution on Jan 1, but the allowed contribution is pro-rated for however many months you have eligible coverage. For example, if you know you’ll have eligible coverage from Jan to Jun, you could contribute 6/12 of the an...
by TresBelle65
Fri Nov 15, 2019 10:54 am
Forum: Personal Investments
Topic: Converting 401k to a Roth IRA?
Replies: 2
Views: 302

Converting 401k to a Roth IRA?

I am a federal employee retiring in the first quarter of 2020. My 2020 income will be very low. My understanding is that this would be a good time to covert part of my 401k (TSP) to my Roth IRA (I have a Roth IRA already). Could someone point me to a resource for the mechanics of doing this, trackin...
by TresBelle65
Fri Nov 15, 2019 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Continuing to contribute to an HSA after retirement?
Replies: 6
Views: 518

Continuing to contribute to an HSA after retirement?

I am retiring in the first quarter of 2020 from the federal govt. My understanding is that I can continue to contribute to my HSA (as long as I still have the HDHP and no other health insurance). I won't be contributing via payroll, so I can just send the contributions directly to the brokerage (in ...
by TresBelle65
Thu Nov 14, 2019 8:52 am
Forum: Personal Investments
Topic: Roth IRA/401K & Roth 401k?
Replies: 1
Views: 187

Roth IRA/401K & Roth 401k?

I currently have a Roth IRA and a 401k (Federal TSP). I am planning to retire soon from the federal govt, end of first quarter in 2020. Would it make sense for me to also open a Roth 401k (TSP) in order to start accumulating in that account, in 2020? Income tax obligations will be much lower in 2020...
by TresBelle65
Thu Nov 14, 2019 7:14 am
Forum: Personal Investments
Topic: Pending Retirement/Tax Deferred Funds/Conversion Strategies?
Replies: 4
Views: 513

Re: Pending Retirement/Tax Deferred Funds/Conversion Strategies?

Thank you both for the feedback. 2 ) Between now and retirement make your TSP contributions Roth contributions. Currently, I only have a regular TSP. I need to look into the issue of a Roth TSP. This area is completely new to me. What expense ratio do you pay for the target date fund in the previous...
by TresBelle65
Thu Nov 14, 2019 7:08 am
Forum: Personal Consumer Issues
Topic: Retired Boglehead obsession with money- devil's advocate
Replies: 84
Views: 13612

Re: Retired Boglehead obsession with money- devil's advocate

My 98 year old grandmother died last year, in a nursing home. She spent the last 6 years of her life there, a reasonably pleasant facility (as pleasant as these places can be), in a low cost area of the country, where nearby nursing students performed their internships and entertained the residents....
by TresBelle65
Thu Nov 14, 2019 6:43 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 1002

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

In summary, if one is going from a HDHP to a health care plan that does not allow for an HSA then there are specific pro-rata rules to be observed. Thank you for this clarification as I am considering doing this (currently using a HDHP, considering a regular HP for 2020) and this would impact me di...
by TresBelle65
Thu Nov 14, 2019 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 1002

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

I work for a federal agency where the payroll staff are basically pedantic..no creativity, no variances from the norm allowed - therefore my idea was to just start increasing contributions and withholdings via our online system for such entries - within reason and allowability of course.
by TresBelle65
Thu Nov 14, 2019 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 1002

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

Your HR group likely won’t allow you to withhold 100% for benefit plan contributions as there needs to be enough net pay to cover any payroll tax withholdings. Do you know if it would be possible to increase the number of exemptions to the maximum number allowed in order to lower the necessary payr...
by TresBelle65
Thu Nov 14, 2019 6:30 am
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 10863

Re: The difficulty of discarding frugality?

A key word I have not seen yet mentioned is: security. I grew up in a financially insecure family and remember absorbing those feelings of insecurity as a kid. Through a combination of hard work, diligence and luck, I am now financially secure. I sleep well with this knowledge. The next step is focu...
by TresBelle65
Wed Nov 13, 2019 12:17 pm
Forum: Personal Investments
Topic: Pending Retirement/Tax Deferred Funds/Conversion Strategies?
Replies: 4
Views: 513

Pending Retirement/Tax Deferred Funds/Conversion Strategies?

As I prepare to retire in the first quarter of 2020, I am looking at my portfolio and considering the ramifications of moving from a high income/high tax year to a low income/low tax year(s) (and years ahead) and considering what moves I should make in advance of this reality?. Also, the fact that t...
by TresBelle65
Wed Nov 13, 2019 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 1002

Retiring in early 2020, want to stuff preferred tax vehicles?

Hello, Planning to retire in late February or late March of 2020, so, only a few months away. I am a federal employee. I am seeking to contribute as much to my 2020 TSP (401K), and HSA (including over 50/age catch up contributions!) and Flex Spending accounts, as possible. Also, to make a Roth and p...
by TresBelle65
Sun Oct 14, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Issues/last year before retirement
Replies: 2
Views: 430

Health Insurance Issues/last year before retirement

I'm a federal employee planning to retire in mid to late 2019. Open Season for Benefits will soon be upon us. For the past several years, I have had a High Deductible Health Plan, matched with an HSA. Beginning in January, I plan to get all recommended final screenings, finish needed restorative den...
by TresBelle65
Sat Sep 15, 2018 7:54 am
Forum: Personal Consumer Issues
Topic: Portable Music
Replies: 12
Views: 956

Portable Music

Several years ago, I had a device that clipped to my shirt, I think it was called an iPod.(!! lol)

I used it to listen to downloaded songs while exercising, hiking, etc.

Do these kinds of devices still exist and do any of you use them? any suggestions?
by TresBelle65
Mon Sep 10, 2018 12:40 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime - Value?
Replies: 114
Views: 11583

Re: Amazon Prime - Value?

Yes, the items I am ordering for 2 day shipment are Prime items. I may drop the membership, but wanted to ask a question first I only occasionally watch Prime Video - and even then, it's usually to watch movies I pay extra for. Here's a naive question. If I cancel my Prime Video, can I still order s...