Search found 1662 matches

by WoodSpinner
Sat Jun 03, 2017 9:46 pm
Forum: Personal Investments
Topic: Early Retirement Approaches (forced) - review my situation?
Replies: 42
Views: 8721

Re: Early Retirement Approaches (forced) - review my situation?

OP, I am also a 49 Year IT vetran retiring (by choice) this year. It's clear your analytical skills are still sharp and you covered a lot of key points. I see you have lots of good advice already so I will focus on a couple of different issues. 1. Have you modeled your expected tax rates before RMDs...
by WoodSpinner
Sat Jun 03, 2017 1:16 pm
Forum: Personal Investments
Topic: Does someone 60+ need more than 10 years expenses in FI?
Replies: 39
Views: 5421

Re: Does someone 60+ need more than 10 years expenses in FI?

Are you expecting different answers than you got for this post two weeks ago? https://www.bogleheads.org/forum/viewtopic.php?f=1&t=218883&p=3368726#p3368726 Hoping this time I have narrowed the question and better explained it to get what I would consider clearer more on point answers.]I will go ba...
by WoodSpinner
Sat Jun 03, 2017 1:09 pm
Forum: Personal Investments
Topic: Roth IRA Conversion Calculator
Replies: 9
Views: 1398

Re: Roth IRA Conversion Calculator

TT, if it applies to you, remember that Medicare Parts B and others are priced in tiers. You don't want to push yourself into a higher tier with Roth conversions. So be careful when converting up to the top of a tax bracket - that may be into the next tier for Medicare premiums. I have seen this ad...
by WoodSpinner
Sat Jun 03, 2017 12:53 pm
Forum: Personal Investments
Topic: Boglehead approved actively managed funds!
Replies: 28
Views: 5960

Re: Boglehead approved actively managed funds!

I have a small portion of my Bond allocation in Pimco actively managed bond funds. For me they have a proven track record of active management, bearing the total bond indexes at reasonbly low rates.

https://www.pimco.com

Evrything else is in indexes or ETFs.
by WoodSpinner
Sat Jun 03, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Home Down Payment:
Replies: 12
Views: 1655

Re: Home Down Payment:

We could use a bit more information ... I assume from the post you are over 70 1/2 since you mention RMDs 1. Will you pulling the money from Retirement accounts (plus equity from the house sale) leave you in an unsafe financial position? 2. Do you have extra money after RMDs and other income for you...
by WoodSpinner
Thu Jun 01, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 9333

Re: Senility: How do you plan on protecting your money when you lose your mental capacities?

Recommended reading in another thread, read Beyond the Grave , J Condon. He doesn't do much to address single persons, but it does give ideas. Altho his focus is keeping the peace with family members after you're gone, he does provide a fair amount of information about managing assets before you &/...
by WoodSpinner
Wed May 31, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 9333

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

This is also a big concern for me, thanks for posting this and get me thinking about an important issue. I think my first step will be to forward a link to this thread to my DW and DD--I think it's time for a real discussion of the issues and asome brainstorming by all of us on how to deal with the ...
by WoodSpinner
Fri May 26, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Risky to ask for raise with another offer?
Replies: 28
Views: 3616

Re: Risky to ask for raise with another offer?

OP, One more aspect to consider is the company culture and general conditions of their market. For instance, where I work the budget knives have been out for several years--margins are incredibly tight and cost cutting is a strategic survival necessity. Plus it's a Mega-Corp with a process and timel...
by WoodSpinner
Thu May 25, 2017 7:30 am
Forum: Personal Investments
Topic: Roth Conversions Post Retirement
Replies: 19
Views: 2871

Re: Roth Conversions Post Retirement

This question has been a key focus of my retirement planning this year. Based on my analysis I suggest you convert as much as you can but there is an upper limit-- don't convert to a higher tax rate now than you would be paying in RMDs. Figuring this out isn't trivial. I put together my own mega-ret...
by WoodSpinner
Sat May 20, 2017 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: [Wiki] - Pro-rata rule impact on Roth IRA recharacterization
Replies: 30
Views: 3320

Re: [Wiki] - Pro-rata rule impact on Roth IRA recharacterization

LadyGeek--I am in awe.

Thanks for the hard work and attention to detail.
by WoodSpinner
Wed May 17, 2017 7:40 am
Forum: Personal Investments
Topic: ROTH Conversion Goal
Replies: 13
Views: 1454

Re: ROTH Conversion Goal

Should you strive to convert all of your tax deferred dollars to ROTH before you reach RMD's? This question has been a key focus of my retirement planning this year. Based on my analysis I suggest you convert as much as you can but there is an upper limit-- don't convert to a higher tax rate now th...
by WoodSpinner
Tue May 09, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Job Decision
Replies: 53
Views: 5544

Re: Job Decision

So, What did you decide?
by WoodSpinner
Mon May 08, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Will and Estranged Child advice
Replies: 44
Views: 6735

Re: Will and Estranged Child advice

StarsandStripes, Your post touched my heart, brought back the tears and the pain as my first-wife and I faced a similar problem. My stepson and my wife were estranged for several years--it was an awful period for all of us. The pain is so deep and soul-searing that it still scars me so many years la...
by WoodSpinner
Sun May 07, 2017 10:23 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2017!
Replies: 334
Views: 83429

Re: Roll Call for the Retirement Class of 2017!

Count me in.

Dec 15, 2017

We just booked our 1st retirement vacation to Australia. 8-)
by WoodSpinner
Sat May 06, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Job Decision
Replies: 53
Views: 5544

Re: Job Decision

OP, I can feel your pain as I read your post and It brings me back to the time in my life when I was lonely, unhappy with work, with myself and with my life. Here are my thoughts FWIW: - I think road trips and travel are a great way to lift your spirits, explore the country, and think about what you...
by WoodSpinner
Fri May 05, 2017 7:38 pm
Forum: Personal Investments
Topic: Early Retirement Calculus
Replies: 31
Views: 8632

Re: Early Retirement Calculus

A couple of things. 1) The 4% safe withdrawal rate studies are for a 30 year retirement like from 65 to 95. If both of you retire earlier than 65 your safe withdrawal percentage will be much less than 4% How much is "much less than 4%" ? Do you have any links to studies or sources because I would b...
by WoodSpinner
Thu May 04, 2017 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 3497

Re: Starting new job mid-career - What advice to learn from my past?

<< Just because someone is a customer, it doesn't mean I have to send the army to fix their issue..>> But, you could at least be helpful and do what you can to help them. But, you choose to "do nothing" even though you are free. I am not "doing nothing" to help them. For example, I've sent them the...
by WoodSpinner
Thu May 04, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Counting Lump Sum Pension as Bond in AA?
Replies: 4
Views: 656

Re: Counting Lump Sum Pension as Bond in AA?

OP, This was the strategy I deployed during my career at a MegaCorp and I don't regret it at all. It served me well for my 26+ years during my accumulation phase. You are limited though--you can't reduce this as an asset during re balancing. That never really bothered me since I always had a bit mor...
by WoodSpinner
Wed Apr 26, 2017 6:40 pm
Forum: Personal Investments
Topic: How should I factor my pension into my AA in retirement
Replies: 8
Views: 1413

How should I factor my pension into my AA in retirement

I would like to tap some of the collective wisdom of the BH community. My situation: - Plan to retire in December - Decided to take a pension rather than the lump sum from my MegCorp retirement. - Prior to retirement I used the value of the lump sum as part of my fixed income AA Now that I won't hav...
by WoodSpinner
Sun Apr 23, 2017 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Before Tax Donations to a Donor Advised Fund?
Replies: 6
Views: 852

Re: Before Tax Donations to a Donor Advised Fund?

Appreciate the article. It will really help.
by WoodSpinner
Sun Apr 23, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Before Tax Donations to a Donor Advised Fund?
Replies: 6
Views: 852

Re: Before Tax Donations to a Donor Advised Fund?

Thanks for the quick answer!

Learned a couple of new tidbits. Both about DAF and QCD. Going to have to rethink my approach.

Wish it was different but it-is-what-it-is.

Thanks
by WoodSpinner
Sun Apr 23, 2017 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Before Tax Donations to a Donor Advised Fund?
Replies: 6
Views: 852

Before Tax Donations to a Donor Advised Fund?

I would like to start funding part of my charitable giving by donating from ny Before Tax IRA or 401k assets through a Donor Advised Fund. Is this possible before RMDs begin? I plan to use the Qualified Charitible deduction to do this once RMDs start. Doing it from Before Tax dollars has some advant...
by WoodSpinner
Sun Apr 23, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 80
Views: 11875

Re: Helping adult children

Swimmer, For years. my parents faced a similar question. In our case my DS and her family needed extra help (2 kids). My DB and I knew about it (high level) and didn't feel slighted in any way. Both of us and our families were doing well and didn't need the extra assistance Not only did my parents p...
by WoodSpinner
Sun Apr 23, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Considering Non-tangible Assets as Part of an Estate
Replies: 6
Views: 978

Re: Considering Non-tangible Assets as Part of an Estate

Adding to the list:
  • - eBooks
    - Digital Music
    - Jewlery Store Credits
by WoodSpinner
Thu Apr 20, 2017 8:14 pm
Forum: Investing - Theory, News & General
Topic: Excel Solver for Portfolio Rebalancing across Multiple Accounts
Replies: 24
Views: 8224

Re: Excel Solver for Portfolio Rebalancing across Multiple Accounts

OP I am not sure I understand the problem. I do something similar with Excel but I focus on the overall portfolio as a whole. This seems to be similar to what the spreadsheet you found is suggesting FWIW here is my process - Establish overall Asset Allocartion ( eg. 60% Stocks 40% Bonds) - Establish...
by WoodSpinner
Wed Apr 19, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Why never speak badly about boss? [Need Bogleheads' wisdom]
Replies: 138
Views: 17487

Re: Why never speak badly about boss? [Need Bogleheads' wisdom]

OP Great thread! I wish I had been smart enough to work on my EQ earlier in my career. I like KlangFools suggestion to do some role playing on this It's a very effective technique for practicing the nuances of what you want to say. So much depends on what is going on, your relationship to your boss,...
by WoodSpinner
Fri Apr 07, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Seems like I am still looking for a way to reduce my tax burden and still meet my retirement priorities. OP, Let me discuss tax-deferral for a minute with the idea that it may change your thinking about the taxes. While you are working, you contributed to a 401k or traditional IRA (or similar) with...
by WoodSpinner
Tue Apr 04, 2017 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Let's stop here. Why not pay the taxes out of the conversion itself? Normally I don't recommend that but when all you basically have is tax-deferred, that's what you need to use. (Just be warned that if you need to recharacterize, the part withheld for taxes can't be put back into the TIRA. And if ...
by WoodSpinner
Tue Apr 04, 2017 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

WoodSpinner , just curious , how are you paying the tax on those upcoming conversions - 1. As a budget item from your pension. 2. From taxable 3. From somewhere else Enjoy your retirement , looks to me like you've done your homework and you're in great shape ; and I suspect that 13% in taxable is a...
by WoodSpinner
Tue Apr 04, 2017 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

First off I don't know exactly what you are doing modeling wise. ButI don't think it has anything to do with tax free compounding. It has to do with moving money from your tIRA/ROTH/taxable into the annuity. My apologies if I wasn't clear -- the annuities are really defined benefit plans that repre...
by WoodSpinner
Tue Apr 04, 2017 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

I'm sure others have given good tax advice....but given that one of your goals is to "leave something to heirs" and you seem to have more than enough (between pension, SS, and savings) to retire, may I suggest you: (a) Open up a 529 plan for your daughter (you can later change the beneficiary to an...
by WoodSpinner
Tue Apr 04, 2017 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

RandomGuy, Approach #3 (delay Annuity, delay SS, max Roth Conversions to 20% Effective Tax) ends up with less money in the Roth and Less in the IRA/401K than either of the other approaches. Discounting the IRA/401K by 20%, 30% etc. will not make this a better alternative. What I think is happening i...
by WoodSpinner
Sun Apr 02, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Realistically you don't have a ton of flexibility. You can avoid taxes by giving away money but that doesn't give you any spendable dollars. You have 13 years to do ROTH conversions to reduce future SS taxation but the pension is going to fill up most of the low tax brackets. Putting the pension of...
by WoodSpinner
Sun Apr 02, 2017 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

If you are trying to figure out your tax problem in November or December of that year (or even worse, Q1 of the next year) you probably have waited too long. I've spent more time on my 2017, 2018 and 2023 pro-forma returns this year than I have on my 2016 tax return. Great advice! Thanks! I plan to...
by WoodSpinner
Sun Apr 02, 2017 12:07 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Maybe an example will help. Say your base case is $100,000 in tax-deferred plus $25,000 in taxable. Say taxable has a $25,000 basis, so no capital gains tax liability, to keep it simple. You think you have $125,000. But someone will likely have to pay income taxes on that $100,000. Say at 25%. So u...
by WoodSpinner
Sat Apr 01, 2017 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

Am I right in assuming that in all this type of calculations where tax bracket goes from 15 to 25 as the payer ages happens only after RMD kicks in and SS was delayed till that age? Obviously every case is different but it seems rather uncommon to have higher tax bracket just after retirement than ...
by WoodSpinner
Sat Apr 01, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Re: Advice Needed: Enough to Retire, but the Tax Bill is a shock

When evaluating Roth conversion, you don't want to look at the gross portfolio ending value. You need to look at what spendable funds you will have after taxes. This means you need to pick a tax rate to discount tax-deferred accounts (and a capital gains rate for taxable if applicable). That could ...
by WoodSpinner
Sat Apr 01, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Enough to Retire, but the Tax Bill is a shock
Replies: 58
Views: 10710

Advice Needed: Enough to Retire, but the Tax Bill is a shock

Looking for advice on how to reduce taxes but meet our retirement goals (in priority order): - Enjoy Retired Life - Have strong security to weather diversity (financial, medical etc.) - Leave some to my heirs - Minimize the tax bill About us: - Married, MFJ, Living in CA - Him (57), Planning to Reti...
by WoodSpinner
Sat Apr 01, 2017 7:47 am
Forum: Personal Investments
Topic: Downloading Transactions from Vanguard into Quicken
Replies: 14
Views: 2869

Re: Downloading Transactions from Vanguard into Quicken

I have had numerous problems over the years when downloading Vanguard transactions to Quicken. Fully convinced it is Vanguard's improper reporting since: I have never had a problem with Scwhab or Merrill Lynch No problem with the Vanguard Brokeridge option I concur in the recommendation to not try t...
by WoodSpinner
Fri Mar 31, 2017 7:35 am
Forum: Personal Investments
Topic: Investing 401k contributions and company match differently?
Replies: 10
Views: 1114

Re: Investing 401k contributions and company match differently?

Not sure if this applies.... Check the cost basis of the stock in your employer march portion. Many companies provide stock at a significantly reduced cost--below market. If that is the case NUA distributions can come into play and be quite advantages. In my case, I need to retire or leave the compa...
by WoodSpinner
Mon Mar 27, 2017 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Expected Taxes Per Paycheck
Replies: 23
Views: 2759

Re: Calculating Expected Taxes Per Paycheck

I incorporated similar functionality into my Mega Retirement spreadsheet. Leveraged the tutorial found here... http://www.excel-university.com/income-tax-formula/ You can find others via Google by searching "excel federal income tax formula" I extended it a bit by adding my State Tax rates and then ...
by WoodSpinner
Sat Mar 25, 2017 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Pension Options
Replies: 19
Views: 2421

Re: Pension Options

Suggest yo go to the PBGC and see how much of the pension is covered by them at the age you start drawing it?

It's another part of the risk equation.
by WoodSpinner
Tue Mar 21, 2017 10:45 am
Forum: Personal Investments
Topic: Online Retirement Planner Tools
Replies: 12
Views: 2889

Re: Online Retirement Planner Tools

I am a relative newbee to retirement planning but here are some sites that have worked for me. Would love to know about your experiences I am a big fan of Flexible Retirement Planner for a Monte Carlo approach http://www.flexibleretirementplanner.com/wp/ For SS Planning this is my favorite so far, h...
by WoodSpinner
Mon Mar 13, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Power of Attorney Issue/Question
Replies: 62
Views: 6387

Re: Power of Attorney Issue/Question

What a great thread ... I just validated with Merrill Lynch that I need TWO PoA forms filled out and notarized. One for the Taxable Accounts and one for the Tax Deferred. I thought I had things covered with my General PoA form--this could have been a disaster. OP -- thanks for bringing this up, I re...
by WoodSpinner
Sun Mar 12, 2017 8:18 pm
Forum: Personal Investments
Topic: FI, early retirement at 40, how to get relevant tax advice?
Replies: 46
Views: 6994

Re: FI, early retirement at 40, how to get relevant tax advice?

Have you looked at Flexible Retirement planner yet?

http://www.flexibleretirementplanner.com/wp/

I really think it's a good tool to have in the kit. It really helped me see the effect --non-effect of my planning.

Have you found a similar tool you liked better?

Good luck, exciting times!
by WoodSpinner
Sun Mar 12, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion from an IRA Account with only After Tax Money
Replies: 28
Views: 2435

Re: Roth Conversion from an IRA Account with only After Tax Money

It's a classic good news bad-news situation Given my pension, before tax accounts and after tax portfolio, I should have enough to retire but will be paying lots of taxes including on my SS benefit. Money has to come out of the before tax to pay the bills, but the Roth conversions let me pull some o...
by WoodSpinner
Sun Mar 12, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion from an IRA Account with only After Tax Money
Replies: 28
Views: 2435

Re: Roth Conversion from an IRA Account with only After Tax Money

At this point it's all my memory. I destroy all my paper tax records after 7 years and can only go back on digital to 1990. If I had only Known then what I know know.... So let me see if I understand the suggestions using a hypothetical. $980,000 in before tax acct $20,000 in after tax acct $1,000,0...
by WoodSpinner
Sun Mar 12, 2017 12:51 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion from an IRA Account with only After Tax Money
Replies: 28
Views: 2435

Re: Roth Conversion from an IRA Account with only After Tax Money

In the unlikely event that someone has IRAs that they want to Roth convert and all contributions that were made were after tax/non deductible,there would still be tax due for the conversion due to accumulated growth in the IRA in excess of its "basis". Not sure why you think its unlikely -- but tha...
by WoodSpinner
Sun Mar 12, 2017 12:48 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion from an IRA Account with only After Tax Money
Replies: 28
Views: 2435

Re: Roth Conversion from an IRA Account with only After Tax Money

I was wondering about whether Form 8606 existed back then too. This was long before the existence of Roth IRA's. However, there must have been a form or line on Form 1040 for deductible and non-deductible IRA contributions. People making them needed to keep their tax returns (whether they included ...
by WoodSpinner
Fri Mar 10, 2017 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion from an IRA Account with only After Tax Money
Replies: 28
Views: 2435

Re: Roth Conversion from an IRA Account with only AFter Tax Money

I was afraid of that. I do have 2 other Iras. One is with before tax money and one I just inherited. I have a 401k also with before tax money as well Do I use current value of both iras? Or just the Ira I contributed to? The after tax acct is only 2% of the value of my before tax ira I contributed t...