Search found 1829 matches

by BruceM
Fri Aug 03, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 947

Re: IRMAA and MAGI Definition Confusion

Yes....a Roth conversion made in 2016 if recharacterized, must be done by Oct 15 of 2017. A Roth conversion made in 2017 has until Oct 15, 2018 to be recharacterized. Roth conversions done in 2018 through 2025 may not be recharacterized.

BruceM
by BruceM
Thu Aug 02, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 947

Re: IRMAA and MAGI Definition Confusion

The table on page 2 of the Congressional Research Service will probably answer your question on how to calculate the right MAGI

https://fas.org/sgp/crs/misc/R43861.pdf

BruceM
by BruceM
Wed Jul 04, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 16853

Re: IRS publishes draft 2018 1040 - Huge changes made

Section 199A(b)(1) defines "Combined Qualified Business Income" as consisting of qualified business income plus "20 percent of the aggregate amount of the qualified REIT dividends and qualified publicly traded partnership income of the taxpayer for the taxable year". Qualified REIT dividends are di...
by BruceM
Sun Jul 01, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 16853

Re: IRS publishes draft 2018 1040 - Huge changes made

Bruce, The 20% deduction will apply to "qualified business income". REIT dividends and income from publicly traded partnerships (MLPs) are excluded from the definition of qualified business income. IRC Sec 199A(c)(1) Bruce, Another provision of Sec 199A may provide more clarity. 199A defines "quali...
by BruceM
Fri Jun 29, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 16853

Re: IRS publishes draft 2018 1040 - Huge changes made

One new adjustment on page 2 of the 1040 is line 9 for “qualified business income deductions (see instructions)” which I assume is for the 20% small business deduction under Section 199A. The following is all I could find on line 9, from the WSJ https://www.wsj.com/articles/the-new-1040-tax-form-it...
by BruceM
Fri Jun 29, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 16853

Re: IRS publishes draft 2018 1040 - Huge changes made

One new adjustment on page 2 of the 1040 is line 9 for “qualified business income deductions (see instructions)” which I assume is for the 20% small business deduction under Section 199A. The following is all I could find on line 9, from the WSJ https://www.wsj.com/articles/the-new-1040-tax-form-it...
by BruceM
Sat Jun 09, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Home Insurance : H03 Vs H05 policy types
Replies: 27
Views: 6727

Re: Home Insurance : H03 Vs H05 policy types

Wow....didn't even remember this posting..... :happy Yes, your analysis is correct. The HO-5 should be any peril except exclusions, which you need to be aware of. You don't mention where you live, but I understand excluding of cosmetic damage of hail in the SE U.S. is now excluded on most HO forms a...
by BruceM
Thu May 31, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Beach condo vs mountain cabin investment property
Replies: 30
Views: 2650

Re: Beach condo vs mountain cabin investment property

We hold both. Developable land offering seclusion and privacy near a large body of water or tall mountains will almost certainly grow in value over the decades ahead. Do you want this for long term investment or future development purposes?

BruceM
by BruceM
Mon May 07, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Want an HSA but have Tricare Prime
Replies: 8
Views: 690

Re: Want an HSA but have Tricare Prime

We retired USAF in 1998 and have been on TriCare Prime and TriCare Select (formerly TriCare Extra/Standard) up until age 65 when we got coverage from Medicare. Here's our experience.... If you live in an area covered by TriCare Prime (many geographic areas of the US do not offer Prime), then your An...
by BruceM
Mon May 07, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4500

Re: How much should I save or would be available for health care in retirement?

Early in January on a routine dental visit (usually in January and July) my Kaiser dentist spotted a cracked molar for which there were not yet any symptoms. She x-ray'd it again and dug around and said she thought a crown would likely take ok as it seemed the crack was not yet to the base of the to...
by BruceM
Mon May 07, 2018 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Thanks....I hope it helps. The hard part for an accumulator who has spent a lifetime investing for total return where share price is the center of every measure, whether managed or passive, and who wishes to transition to an income only method of generating long term reliable income, is letting go ...
by BruceM
Mon May 07, 2018 9:47 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Thanks....I hope it helps. The hard part for an accumulator who has spent a lifetime investing for total return where share price is the center of every measure, whether managed or passive, and who wishes to transition to an income only method of generating long term reliable income, is letting go o...
by BruceM
Sun May 06, 2018 3:45 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

In September 2017, I started a combined dividend portfolio following the My 7.5% Income Portfolio ( https://seekingalpha.com/article/4098771-7_5-percent-income-portfolio ) and then adding some additional CEFS stocks, (1) Market Fund & ETF's. So far, I have seen the portfolio value fluctuate within ...
by BruceM
Sun May 06, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4500

Re: How much should I save or would be available for health care in retirement?

Regular dental insurance is rarely very beneficial. Most plans have a maximum payout of $1500-2000. I sign up for the basic plan at work because there is no premium but the plans with premiums don't cover much more than the basic and the return on premium is quite bad. "Dental Insurance" really has...
by BruceM
Fri May 04, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4500

Re: How much should I save or would be available for health care in retirement?

I understand that Medicare has premiums and right now don't have a lot of health issues. I assume I can rely on Medicare, but probably not. Maybe that's where an HSA is advantageous, but since I have no health issues, not sure what extra costs would be. What are your thoughts or your experience her...
by BruceM
Mon Apr 30, 2018 3:29 pm
Forum: Investing - Help with Personal Investments
Topic: Is it worth it to dissolve this inherited annuity?
Replies: 33
Views: 2524

Re: Is it worth it to dissolve this inherited annuity?

Hi Steve You are paying considerably more than the 125bp M&E expense they're showing you. You're right, its almost impossible to try to discern how much you're actually paying in fees and expenses on such products....and it is not this way by accident. A way to approximate all fees is to kind of bac...
by BruceM
Mon Apr 16, 2018 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Minimizing taxes for 2018
Replies: 12
Views: 1637

Re: Minimizing taxes for 2018

Hi Kathys Assuming 1. you are using Form 1040 2. your only Above-The-Line deductions are the IRA contributions 3. the total income you are showing is represents all of your ordinary income (wages, net self employment, interest, non-qualified dividends) 4. your itemized deductions are less than $24,0...
by BruceM
Sun Apr 15, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Would be fun to chat with you and your strategy, but I know it is not typical BH fodder. Yes, it isn't typical BH fodder, but I consider myself of the BH strain. I don't listen to middlemen, I keep expenses lower than any BH investor and I rely only on objective measures I take right off the Statem...
by BruceM
Sat Apr 14, 2018 11:01 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

It is dangerous to go without healthcare insurance. Quite a lot of people don't think so, but that's politics, so we cannot discuss it. It isn't about politics--the financial risk of a catastrophic illness can easily exceed the entire cost of a total loss on a home. And for someone who likes to rac...
by BruceM
Sat Apr 14, 2018 10:42 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Hi Cyclingduo Curious about a couple of things if you wouldn't mind addressing. But it requires the discipline to focus on income only, which is much harder than it sounds. What part of it is much harder than it sounds? What is difficult if not impossible for most wanting to adopt a pure income appr...
by BruceM
Fri Apr 13, 2018 10:58 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 18325

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Hi nocisko The answer to your question of how to invest $4MM to generate a REAL $120K for life (REAL = Inflation adjusted), really depends on your overall investment goals. These goals need to speak to the following: 1. Reliability of Income (consistency of income through economic cycles and portfol...
by BruceM
Thu Apr 12, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606 and Turbotax
Replies: 7
Views: 609

Re: Form 8606 and Turbotax

Yes, then short of doing a 1040X (which you'd have to file manually anyway) or deleting the 2016 TT file and redoing it (ugh!), you're probably going to have to keep the hardcopy of the 8606 for future reference. Fortunately, TT lets you override its record of TIRA basis when you do a withdrawal or ...
by BruceM
Thu Apr 12, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606 and Turbotax
Replies: 7
Views: 609

Re: Form 8606 and Turbotax

Wrongfunds I would have gone back and finished the 2016 return in TT, entering the TIRA non-deductible contribution and from that, generated the 8606. The TT file you saved for that year would then load the next year as you begin your 2017 return, and so the 8606 info would be carried forward. Just ...
by BruceM
Thu Mar 29, 2018 5:55 pm
Forum: Investing - Theory, News & General
Topic: Fisher Investments hard sell
Replies: 40
Views: 41570

Re: Fisher Investments hard sell

"I wonder how they pay for all that expensive advertising and agents that go to your house......" AUM fees on accounts that require minimal hourly commitment are extremely lucrative. A $1MM IRA, once set up, will require maybe 5 man-hours per year of investment management time with today's technolog...
by BruceM
Fri Aug 28, 2015 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend investment
Replies: 17
Views: 2386

Re: Dividend investment

However, these are behavioral issues on the investor side of things That, in my view, is exactly correct. For C-Corporations and LLCs filing as corporations where the dividend is elective, the dollars used to pay a dividend as opposed to retaining those dollars and used in company Investing Activit...
by BruceM
Thu Aug 27, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Dividend investment
Replies: 17
Views: 2386

Re: Dividend investment

I've come across a few blogs that advocate dividend investment. One particular one shows a person making a little over $1800 a month off dividends. What's the consensus on this? I wouldn't mind getting 1800 a month but does it make tax reporting a hassle? We have been living off dividends + Federal...
by BruceM
Sat Feb 14, 2015 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Hancock increasing rates on LTC
Replies: 55
Views: 3961

Re: Hancock increasing rates on LTC

I should have been more clear with this. The premium increase we had was expected and optional. The policy offers a 3% annual inflation adjustment. To get that inflation adjustment you need to pay a higher premium. I am OK with that. That increase was no where near 90%. What I am worried about is o...
by BruceM
Mon Jun 17, 2013 2:06 am
Forum: Investing - Help with Personal Investments
Topic: John Bogel: The Problem with 401(k)s
Replies: 2
Views: 1139

John Bogel: The Problem with 401(k)s

An interview with Christine Benz as a sort of clarification of what he said on the recent Frontline Special

http://www.morningstar.com/cover/videoc ... UTUALFUNDS

BruceM
by BruceM
Fri Jun 14, 2013 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question [Social Security income and fund distributions]
Replies: 6
Views: 859

Re: Tax Question

If a person is 65 years old and has 16k income from Social Security how much can they have in Vanguard Target Retirement 2015 Fund (VTXVX) before they would pay taxes? This is all taxable money. Social Security is there only income. Provisional Income (PI), used to calculate how much of one's SS be...
by BruceM
Fri Jun 14, 2013 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Using SIMPLE IRA for First Time Home Buyer Downpayment
Replies: 23
Views: 2977

Re: Using SIMPLE IRA for First Time Home Buyer Downpayment

MMc7 Because you have had contributions made to the SIMPLE over 2 years ago, you may roll over the balance to any other IRA custodian you wish without tax or penalty....and from your description, the sooner, the better. Yes, the Franklin Growth Fund (FKGRX) has underperformed both the S&P 500 and th...
by BruceM
Tue Jun 11, 2013 2:49 pm
Forum: Investing - Help with Personal Investments
Topic: 457b question
Replies: 20
Views: 1565

Re: 457b question

Twinsfan (is that as in Minnesooootah?) Yes...when you get within 3 years of the plan's full retirement age, you may contribute up to another $17,500 (or whatever the max is for that year), providing you have at least that much in cumulative past year UNDER-contributions. Otherwise, at age 50 and ol...
by BruceM
Tue Jun 11, 2013 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Circling vultures...advisors looking for access to residents
Replies: 109
Views: 11481

Re: Circling vultures...advisors looking for access to resid

Neurosphere What is your principal interest in continuing a dialogue with this unsolicited e-mail? This is a guess, but it sounds like you would like to have your residents educated in the fundamentals of personal finance. But a salesman is not going to provide this. If you are interested in educati...
by BruceM
Tue Jun 11, 2013 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: 457b question
Replies: 20
Views: 1565

Re: 457b question

I just got the email reply from the plan administrator for my 457b. They said $17,500 combined is the max amount that can go into my account (2013 example)... So, $17,500 - 3.5% annual match = the total amount I can contribute. That's right. The Government 457(b)'s maximum contribution from all sou...
by BruceM
Tue Jun 11, 2013 11:25 am
Forum: Investing - Help with Personal Investments
Topic: Investing at retirement
Replies: 16
Views: 2306

Re: Investing at retirement

I like the list. Like jack Benny "I'm thinking I'm thinking " Its all in tax sheltered retirement funds so the Required minimum distribution is also an issue. Professor While you're thinking...... That your investments are all in a tax deferred account(s) that will be subject to RMDs really should ...
by BruceM
Mon Jun 10, 2013 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Investing at retirement
Replies: 16
Views: 2306

Re: Investing at retirement

professor What are your primary objectives for this money? I can kind of infer them, but if you make them clear, this would drive your ultimate investment choices. Examples of investment goals might include: 1. Safety of principal....if you will need these dollars in the future and you do not want t...
by BruceM
Mon Jun 10, 2013 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Need fee based financial planner in Charleston, SC
Replies: 4
Views: 686

Re: Need fee based financial planner in Charleston, SC

My SIL is inheriting a substantial sum of money from his father's estate. My daughter mentioned the idea of getting advice from a financial planner which I completely agree with. Both are quite competent with their finances but this seems to be a good time to get advice. I would greatly appreciate ...
by BruceM
Sun Jun 09, 2013 7:00 pm
Forum: Local Chapters and Bogleheads Community
Topic: Master Thread for Portland, Oregon
Replies: 138
Views: 42396

Re: Portland, Oregon Meeting?

Our next meeting will be Tuesday, June 11 at 6:30 at Lings Garden Restaurant, 915 NW 21st in Portland (21st and Lovejoy)

Hope this catches you on time, and hope to see you there.

BruceM

Edit: woooops...didn't see the response. Sorry for the repeat :-)
by BruceM
Sun Jun 09, 2013 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in Foreign Bonds
Replies: 14
Views: 2236

Investing in Foreign Bonds

Rick Ferri, Bill Bernstein and other CFAs offer their short-version views on investing in foreign debt.

http://www.oregonlive.com/finance/index ... cart_river

BruceM
by BruceM
Mon May 13, 2013 1:09 pm
Forum: Investing - Theory, News & General
Topic: THANKS, BOGLEHEADS, FROM JACK BOGLE
Replies: 39
Views: 6456

Re: Thanks, Bogleheads, from Mr. Bogle

Jack Try this....Google something like "SEC FINRA fines and penalties Merrill Lynch" and see what comes up. Do the same, except insert American Express or LPL. You'll see page after page after page of press releases of the multi-million dollar fines and penalties assessed by the SEC and FINRA for mi...
by BruceM
Mon May 13, 2013 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity has the best customer service I know of
Replies: 57
Views: 5011

Re: Fidelity has the best customer service I know of

My first foray into brokerage services in 1997 was with American Express, who offered 20 free trades/yr (or something like that), which then the average trading cost for the 'discounters' was about $25 as I recall. So I went with AE. What a disaster. Almost every monthly statement had an error on it...
by BruceM
Fri May 10, 2013 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree poll: Expenses in retirement
Replies: 24
Views: 3740

Re: Retiree poll: Expenses in retirement

I do this all the time for clients....and from this, a couple of points: 1. Many will not realize they are no longer paying FICA tax, cost sharing medical insurance or contributing to their retirement plan, because these expenses came out before they got their paycheck. IOW, although real, they just...
by BruceM
Thu May 02, 2013 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Do the Bogleheads here tithe based on net or gross salary?
Replies: 49
Views: 5399

Re: Do the Bogleheads here tithe based on net or gross salar

Hopefully, we will hear from a spokesperson for the [religion removed --admin LadyGeek], who are the experts for a questions like this.

BruceM
by BruceM
Wed Apr 24, 2013 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: impressive rate of return when purchasing home
Replies: 38
Views: 3593

Re: impressive rate of return when purchasing home

This is the OP. Thank you for all discussion you're very welcome....and thank you for taking the time to show your appreciation! I used the last 23 year average annualized return of VBMFX as this is a conservative and long term rate of return available in the marketplace. Most of this period's retu...
by BruceM
Wed Apr 24, 2013 12:42 pm
Forum: Investing - Theory, News & General
Topic: Frontline--The Retirement Gamble
Replies: 325
Views: 51015

Re: Frontline--The Retirement Gamble

Most of what this special covers is already well known by bogelheads and Diehards. Its just good to see it so widely broadcast. I particularly liked the explanation of how our current situation has evolved. In the 80s and 90s, with 12% annualized returns being the 'norm', who cared about this expens...
by BruceM
Wed Apr 24, 2013 11:33 am
Forum: Personal Finance (Not Investing)
Topic: impressive rate of return when purchasing home
Replies: 38
Views: 3593

Re: impressive rate of return when purchasing home

I have done this calc many times. If I'm reading you correctly, you are doing a simple cash flow differential of owning with monthly all-in expenses vs. monthly renting. Unfortunately, its not nearly that easy. The closing costs and any other one-time capital costs along the way are negative cash fl...
by BruceM
Wed Apr 24, 2013 1:31 am
Forum: Personal Finance (Not Investing)
Topic: [stopping] Telemarketers
Replies: 29
Views: 2240

Re: [stopping] Telemarketers

On our cell phones, we've installed the free app 'Call Control', which will automatically reject any calls from known spammers or robocallers and any caller whose caller ID is 'blocked', and gives me the option of immediately directing to my voicemail any calls that are not on my directory. We've on...
by BruceM
Wed Apr 24, 2013 1:13 am
Forum: Investing - Help with Personal Investments
Topic: Questions about Fee-Only Financial Advisor
Replies: 18
Views: 2582

Re: Questions about Fee-Only Financial Advisor

I agree with the foregoing comment that if you're not going to take the time to learn the fundamentals....and many intelligent individuals do not.....you should seek out the services of a fee-only registered investment advisor. There are two sources I would search. First, is the Garrett Financial Pl...
by BruceM
Mon Apr 22, 2013 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: Any experience with Good Harbor Financial?
Replies: 11
Views: 3775

Re: Any experience with Good Harbor Financial?

Your father is a prime candidate for the likes of "Good Harbor Financial", of which I'm sure there are hundreds if not thousands of such 'advisors' popping up to "serve the needs" of the growing number of baby boomers headed into retirement with 401(k) + IRA balances they are now responsible for. I ...