Search found 1153 matches

by lawman3966
Sun Feb 02, 2020 12:18 am
Forum: US Chapters
Topic: Any interest in a central New Jersey chapter?
Replies: 36
Views: 4857

Re: Any interest in a central New Jersey chapter?

I was the coordinator of the old NJ chapter, which no longer exists because I left NJ. New Jersey chapter needs new coordinator is an old thread on which some people had expressed interest. If you do get a chapter started, I can turn over the ownership of the chapter mailing list to the new coordin...
by lawman3966
Thu Jan 16, 2020 1:30 pm
Forum: Personal Investments
Topic: Most Reliable Insurance Company (SPIA for Retirement)
Replies: 19
Views: 1348

Re: Most Reliable Insurance Company (SPIA for Retirement)

While this doesn't directly answer your question, the below addresses the concern at issue here. Walter Updegrave of CNN once recommended a diversification strategy for retirement investing that included annuities. He said to put 1/3 of one's assets into annuities and to further split that 1/3 of as...
by lawman3966
Fri Jan 10, 2020 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 802
Views: 84083

Re: Why are you NOT buying rental properties?

One reason I don't plan to invest in RE locally (Seattle area) is the trend toward laws that are increasingly burdensome to LLs. On other fora I frequent, LLs from California vent day and night about the hassles they have with tenants and with regulations that are both expensive and, in their view, ...
by lawman3966
Sat Jan 04, 2020 10:46 pm
Forum: Investing - Theory, News & General
Topic: Why all the angst about RMDs and taxes?
Replies: 177
Views: 12794

Re: Why all the angst about RMDs and taxes?

Some people know about the need to pay ordinary income tax on the withdrawal itself, but aren't aware of the sometimes multiple "torpedo" effects of having tax relief on social security, dividends, and LTCGs reversed due to the RMDs pushing taxable income past various relevant income thresholds. Her...
by lawman3966
Mon Dec 30, 2019 7:35 am
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Re: Last Minute Roth Conversion Question

In the top post, I, perhaps unwisely, cited my SSDI income going forward, which for 2020 is 28560. It was less for 2018, about 27,400. The online system found that none of my SSDI income was taxable. My tax return copy shows a total income of 21.2K and a taxable income of 9.2K. Perhaps you could lo...
by lawman3966
Sun Dec 29, 2019 7:27 pm
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Re: Last Minute Roth Conversion Question

I have edited the top post to add the information you recite as important above. I repeat it below: Taxable income for 2018: $9K (few changes to my income and investments since then). Tax Exempt Interest: 0 Cap Gains: $8,515, including . . . Cap Gains Distributions: $1,416 (cap gains distributions ...
by lawman3966
Sun Dec 29, 2019 2:23 pm
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Re: Last Minute Roth Conversion Question

At the risk of being told to go figure this out myself, I'm still going to try and see if there's some consensus on the forum as to how I should proceed, while acknowledging that I waited until the eleventh hour to ask. My numbers: Age: 60 Single, No kids. Tax-deferred: $500K Roth: $150K Taxable: $...
by lawman3966
Sat Dec 28, 2019 9:06 pm
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Re: Last Minute Roth Conversion Question

HomeStretch wrote:
Sat Dec 28, 2019 8:47 pm
Without a detailed analysis, consider converting up to at least the top of the 12% bracket.
Thank you. If I read this correctly, this would entail converting about $30K. Please correct this if I'm wrong.
by lawman3966
Sat Dec 28, 2019 9:01 pm
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Re: Last Minute Roth Conversion Question

Depends. What's your marginal tax bracket (Federal and State)? Do you expect to be in a higher or lower tax bracket when you would otherwise take distribution of the tax-deferred IRA? I edited the top post to include marginal income tax rates. They are: 10% federal; and 0% state. I don't expect my ...
by lawman3966
Sat Dec 28, 2019 8:41 pm
Forum: Personal Investments
Topic: Last Minute Roth Conversion Question
Replies: 17
Views: 1620

Last Minute Roth Conversion Question

At the risk of being told to go figure this out myself, I'm still going to try and see if there's some consensus on the forum as to how I should proceed, while acknowledging that I waited until the eleventh hour to ask. My numbers: Age: 60 Single, No kids. Tax-deferred: $500K Roth: $150K Taxable: $1...
by lawman3966
Sat Dec 21, 2019 11:01 am
Forum: Personal Consumer Issues
Topic: Millionaire Teacher - Andrew Hallam
Replies: 65
Views: 8929

Re: Millionaire Teacher - Andrew Hallam

If you include in the wealth calculation the value of pensions and health care plans, many teachers are millionaires many times over.
by lawman3966
Fri Dec 06, 2019 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: How I Nearly Gave Out My Data
Replies: 5
Views: 1334

How I Nearly Gave Out My Data

I first posted about this in response to another person's post about having given up his personal data. Several posters asked the OP to describe how the scammer managed to get his information. My other post doesn't seem to have gotten much attention so I am reposting here. This happened in 2017. I w...
by lawman3966
Fri Dec 06, 2019 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Gave all personal info to phone scammer
Replies: 31
Views: 5155

Re: Gave all personal info to phone scammer

I'm not the OP, but am posting to explain how one scammer nearly got some vital information from me in 2017, in case it's helpful to others. I was visiting Canada, and had just taken a series of Uber rides. As has happened to me on other occasions where my credit card usage pattern changed abruptly,...
by lawman3966
Fri Nov 29, 2019 3:38 am
Forum: Non-US Chapters
Topic: Would there be interest in a Toronto chapter?
Replies: 1
Views: 375

Re: Would there be interest in a Toronto chapter?

You may get more replies if you were to re-post your invitation the Canadian sister forum - the Financial Wisdom Forum.

https://www.financialwisdomforum.org/forum/index.php
by lawman3966
Thu Nov 28, 2019 3:27 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey says 30 years Roth IRA to 1.3 million?
Replies: 239
Views: 21331

Re: Dave Ramsey says 30 years Roth IRA to 1.3 million?

Is DR counting how much extra time and money you'll need to reach $ one million if you pay the outsized fees his ELF's charge?

Now, that would be a useful set of numbers to have!
by lawman3966
Mon Oct 28, 2019 10:55 pm
Forum: Non-US Investing
Topic: TSP account for U.S. citizen living outside U.S.
Replies: 2
Views: 311

TSP account for U.S. citizen living outside U.S.

I am expecting to move the retirement component of my holdings into an existing TSP account in anticipation of an overseas retirement. I have separately moved my non-retirement assets into a Schwab account, for conversion into an overseas account once I'm living abroad. I tried to confirm online tha...
by lawman3966
Wed Oct 23, 2019 7:30 pm
Forum: Personal Investments
Topic: Management of TSP / 401K / IRA Accounts for Overseas Retirement
Replies: 3
Views: 321

Management of TSP / 401K / IRA Accounts for Overseas Retirement

I am planning to retire overseas and need to decide how to handle several 401K Accounts, IRAs, and the TSP. This is due in part to the unwillingness of several investment companies to have U.S. expatriates as clients. I expect to move my Roth IRA and non-retirement accounts into a Schwab Internation...
by lawman3966
Mon Oct 21, 2019 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801
Replies: 27
Views: 2221

Re: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801

Finally, I'll just repeat that I am merely a random stranger on the internet, and that although I don't think it is, any or all of the above might be completely wrong. Do be sure to check all of this carefully yourself, ideally with professional advice, before taking any actions. Particularly any i...
by lawman3966
Mon Oct 21, 2019 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801
Replies: 27
Views: 2221

Re: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801

Anyway, if the OP's mother (Canadian Resident) is considered to be a US person for taxation due to her permanent residency not having been abandoned, then isn't the OP's mother due the standard estate exemption? Right. This could entirely defuse the spectre of the appalling section 2801 tax, and it...
by lawman3966
Sun Oct 20, 2019 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Searching for a 401 k provider for a very small company
Replies: 10
Views: 983

Re: Searching for a 401 k provider for a very small company

I encouraged my employer to use Employee Fiduciary back in 2012 and things have worked well.

I think regulations have added a few fees to their low overall fee structure. However, when I compared them to other providers, they were hands down the best choice for our small firm plan.
by lawman3966
Sat Oct 19, 2019 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801
Replies: 27
Views: 2221

Re: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801

Regarding Section 2801, I guess I'll just keep an eye out for any developments on that front, since there doesn't seem to be anything I can do about it. A recent SSRN paper on Section 2801 that might be of some interest, if you haven't already seen it: How IRS Guidance Makes it impossible to Comply...
by lawman3966
Sat Oct 19, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Continuing Disability Review
Replies: 21
Views: 1349

Re: Continuing Disability Review

SSDI beneficiary here. During my application, an acquaintance completed some sort of "witness" form describing how my condition appeared to him as a roommate of mine. All I can think of in this case (assuming the letter is legitimate), is that, if you are completing a form describing how her conditi...
by lawman3966
Thu Oct 10, 2019 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Need help !!! US or Canadian universities?
Replies: 56
Views: 3881

Re: Need help !!! US or Canadian universities?

Dual Canadian-U.S. citizen here. Convince your son to visit Montreal, Toronto, and Vancouver, and better still take the train across Canada. He won't want to come back. I used to visit my native Montreal while in college, and there legions of American students at McGill Univ. and other schools. If M...
by lawman3966
Tue Oct 08, 2019 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801
Replies: 27
Views: 2221

Re: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801

T. Swippet: Thank you for your reply. My siblings and I will have to review as many relevant files as we can access, whether they're in my later mother's files, at an acountant's or lawyer's office, or at the INS or IRS. I recall your mentioning the desirability of getting her file at the INS. She f...
by lawman3966
Mon Oct 07, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801
Replies: 27
Views: 2221

Tax on Inheritance by U.S. Citizen from Canadian Resident - Section 2801

I originally posted about this issue in June of 2018. Circumstances now warrant an update of that older post. The relative (my mother) of whom I wrote then has passed away at the age of 98. The purpose of this post is to determine the best approach at this point to respond to the possibility of the ...
by lawman3966
Mon Aug 19, 2019 1:04 am
Forum: Personal Consumer Issues
Topic: RV purchase ?
Replies: 86
Views: 6345

Re: RV purchase ?

I don't know enough to answer your questions myself, but will refer you to source that might. You may want to check out the youtube channel of Steve Lehto (with the sub-heading Lehto's Law). He is an attorney living in Michigan who has various topics relating to the automotive industry, including se...
by lawman3966
Fri Aug 16, 2019 2:03 am
Forum: Personal Investments
Topic: Vanguard Energy ETF (VDE) - Good Time to Jump In?
Replies: 18
Views: 2834

Re: Vanguard Energy ETF (VDE) - Good Time to Jump In?

Any great reasons not to jump in? Thanks for your insights! https://investor.vanguard.com/etf/profile/VDE How about this for starters: market timing fails for most people most of the time. Second possible reason: there is no reason to believe that I, you, or anyone else on this board would know bet...
by lawman3966
Tue Aug 13, 2019 11:21 pm
Forum: Personal Investments
Topic: Laid off - 59yo - advice please
Replies: 44
Views: 7164

Re: Laid off - 59yo - advice please

One additional thought on the odd job front: some people now teach English over the internet, usually for Chinese students. The ads promise some promising income levels, which I can't vouch for. However, it's worth checking out. My brother does this work in Canada, likes it, and appears to significa...
by lawman3966
Tue Aug 13, 2019 2:03 pm
Forum: Personal Consumer Issues
Topic: Do burglars steal and use paperwork?
Replies: 39
Views: 4991

Re: Do burglars steal and use paperwork?

I'm pretty sure that they can and do. I don't have a cite for the partucular case I'm thinking of, but I recall a tv news story from years ago in which a dumpster diver accessed a man's credit card statements, hacked his identity, and made his life a living hell for years as he tried to correct the ...
by lawman3966
Tue Aug 13, 2019 11:12 am
Forum: Personal Investments
Topic: Expat Investment Account / Health Insurance Planning
Replies: 3
Views: 206

Re: Expat Investment Account / Health Insurance Planning

I don’t think there is a Schwab International bank account. I have check writing on my Schwab International Brokerage account, but it’s not a bank with bill pay and such. About Medicare, don’t you have to pay part B premiums when you reach eligibility or face a penalty should you try to resume it l...
by lawman3966
Tue Aug 13, 2019 9:35 am
Forum: Personal Investments
Topic: Expat Investment Account / Health Insurance Planning
Replies: 3
Views: 206

Expat Investment Account / Health Insurance Planning

I am preparing a plan for positioning my assets for an overseas retirement. I understand that some U.S. citizens work to maintain the appearance of U.S. residency even while physically residing overseas for the purposes of having their relations with financial institutions, health insurance companie...
by lawman3966
Sun Aug 11, 2019 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Dept Outsourced - Job Worries - Need your Advises
Replies: 69
Views: 7718

Re: Dept Outsourced - Job Worries - Need your Advises

I don't know if your background is a fit or not, but you could consider seeking a job as a patent examiner at the U.S. Patent and Trademark Office (USPTO). The Office has a satellite office in Silicon Valley, and you could pursue a position there. If you get hired, you can start to telecommute after...
by lawman3966
Fri Aug 09, 2019 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Received a $17,000 medical bill! Can we negotiate?
Replies: 91
Views: 10689

Re: Received a $17,000 medical bill! Can we negotiate?

Another poster addressed the situation in which you have health insurance is directly through your employer. I'm writing to address a related situation - that in which your employer uses an external health insurance company. I faced a similar situation upon getting a biopsy in 2001. The hospital was...
by lawman3966
Fri Jul 19, 2019 2:01 am
Forum: Personal Investments
Topic: Are retirement accounts exposed to liability claims?
Replies: 31
Views: 6053

Re: Are retirement accounts exposed to liability claims?

The first linked page below addresses the topic of creditor protection for TSP accounts. http://money.federaltimes.com/2015/05/11/tsp-and-creditors/ One of the forms linked to in the above linked page implies that lawsuits that are capable of enabling garnishing a TSP account are limited to cases in...
by lawman3966
Sat Jul 13, 2019 5:20 pm
Forum: Personal Investments
Topic: Are retirement accounts exposed to liability claims?
Replies: 31
Views: 6053

Re:

Sammy_M wrote:
Fri Nov 13, 2009 5:08 pm
Does anyone know if self employed / solo 401Ks qualify as ERISA protected?
I researched this issue a few years ago, and what I found then was that Solo 401K plans did NOT offer creditor protection as a benefit. You should of course re-research this question to be sure.
by lawman3966
Sat Jul 13, 2019 4:19 pm
Forum: Personal Investments
Topic: Are retirement accounts exposed to liability claims?
Replies: 31
Views: 6053

Re: Are retirement accounts exposed to liability claims?

A Boglegead: The very text you quote in your last post appears to me to say that TSP assets are protected in both lawsuits and bankruptcy proceedings. If the board feels differently, I hope someone will let us both know. Regarding Umbrella insurance: I have umbrella insurance through GEICO. My polic...
by lawman3966
Sat Jul 13, 2019 2:18 pm
Forum: Personal Investments
Topic: Are retirement accounts exposed to liability claims?
Replies: 31
Views: 6053

Re: Are retirement accounts exposed to liability claims?

Thank you! When I asked TSP, they said TSP accounts are not protected from lawsuits, but are from creditors in case of bankruptcy. It sounds like you think it's safe to move the money from an ERISA protected account to TSP, despite the lack of ERISA protection. TSP accounts aren't protected by ERIS...
by lawman3966
Sat Jun 08, 2019 12:59 am
Forum: Investing - Theory, News & General
Topic: Thank you, Taylor Larimore!
Replies: 49
Views: 6601

Re: Thank you, Taylor Larimore!

Thank you Taylor. Since words alone can't convey what the world owes you and your comrades, I won't try to come up with anything more clever than what I've read above.
by lawman3966
Sun May 26, 2019 9:02 am
Forum: Personal Consumer Issues
Topic: Three days In Montreal
Replies: 21
Views: 1658

Re: Three days In Montreal

There's a lot to see. But try to get to the Notre Dame Basilica and St Joseph's Oratory.
by lawman3966
Fri May 17, 2019 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Disability: Fibromyalgia
Replies: 31
Views: 3898

Re: Social Security Disability: Fibromyalgia

If possible, try to get an attorney from the very start of the process. I can tell you that a lawyer I know at a non-profit thinks that some attorneys are very unethically charging too much for the small amount of work they are doing at the start of this process for the most vulnerable members of t...
by lawman3966
Thu May 09, 2019 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Disability: Fibromyalgia
Replies: 31
Views: 3898

Re: Social Security Disability: Fibromyalgia

I applied for and was approved for SSDI benefits for chronic fatigue syndrome (CFS). CFS was widely considered to be difficult to get ssdi benefits for, but recognition of the condition by the social security administration (SSA) improved over the years. The usual guidance from applicants and attorn...
by lawman3966
Tue May 07, 2019 9:09 pm
Forum: Investing - Theory, News & General
Topic: Climate Change Investment Strategy
Replies: 21
Views: 3377

Re: Climate Change Investment Strategy

This topic occurred to me, so I decided to reply to an existing thread rather than start a new one. I've have to disagree with those saying this is in the "nobody knows nothing" category. There are now many articles online warning investors about the impact on their portfolios of climate change. I t...
by lawman3966
Fri Apr 12, 2019 12:29 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2554

Re: Are my 401k fees ridiculously high?

Your fees are not high compared to what I've experienced. One former employer's 401K plan was with an insurance company. The plan had a wrap fee of about 1% and offered quasi-mutual-fund products with expense ratios of between 1% and 1.5%, providing a total AUM cost burden between 2% and 2.5%. As ba...
by lawman3966
Wed Mar 20, 2019 12:42 am
Forum: Personal Finance (Not Investing)
Topic: Patent an idea and find investors.
Replies: 31
Views: 2079

Re: Patent an idea and find investors.

Retired patent attorney here. This is a big and complex topic and difficult to fully address in this context. I will address some of the statements above, refer you to some resources, and add a few observations. I agree with avoiding the invention promotion firms. They lead people on with misleading...
by lawman3966
Tue Feb 05, 2019 12:51 pm
Forum: Personal Investments
Topic: Why my FA is rushing me to get out of Matson, whom he suggested in 2014.
Replies: 22
Views: 4050

Re: Why my FA is rushing me to get out of Matson, whom he suggested in 2014.

I quickly reviewed Matson Money's fee structure online, and I'd say that the advice to move money away from them is solid.
I'd follow that up by doing what others have said above, namely to move the money to Vanguard.
by lawman3966
Mon Feb 04, 2019 11:40 pm
Forum: Investing - Theory, News & General
Topic: Firecalc - Date of Portfolio Change
Replies: 2
Views: 320

Firecalc - Date of Portfolio Change

I was entering data into the Portfolio changes section of Firecalc (FC) and varied the year in which the change would take place, to measure the impact of an expected inheritance. In varying the year of receipt between 2023 and 2030, the results were inconsistent and surprising. The impact on permis...
by lawman3966
Mon Feb 04, 2019 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Please critique my plan for early retirement
Replies: 42
Views: 5450

Re: Please critique my plan for early retirement

I entered your wealth data, and an estimate for your social security data ($18K/year starting at age 65) into Firecalc. I searched for the permissible spending level using a 95% confidence level, using the "investigate" tab. I entered a retirement period of 45 years, on the view that at age 85, spen...
by lawman3966
Sat Feb 02, 2019 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Can I Retire in July 2019?
Replies: 30
Views: 5573

Re: Can I Retire in July 2019?

I think you can retire, with perhaps some minor adjustments and assumptions. I plugged your numbers into Firecalc. Run (a), inputs: portolio = 1.2 million; SS income = $39K starting in 2030; portfolio 70% in stocks; retirement period = 30 years. Success rate of 95%. Result: spendable income of about...
by lawman3966
Thu Jan 17, 2019 5:03 pm
Forum: Personal Investments
Topic: 57 yr old w/$14K
Replies: 24
Views: 3817

Re: 57 yr old w/$14K

He should look into applying for Supplemental Security Income (SSI). It's specifically designed for people who have health issues but who don't have enough social security credits to qualify for Social Security Disability Insurance (SSDI). I have met people who are on SSI who are in shoes similar to...