Search found 7788 matches

by delamer
Wed May 31, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

The discrepancy between my calculate number and the official statement is now down to $1. I goofed because I was comparing my calculated number to a statement from 2015 because that was the last one they mailed me. I just went to the website and saw my latest figure. Showing my ignorance, why does ...
by delamer
Wed May 31, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

I was in CSRS retirement system for 9 years starting in 1976. I took that money out as a lump sum (I think--don't really remember). Do you think my calculations are correct (based on the incomplete info you have)? I did re-check everything. :? $160/month is a pretty big difference from the official...
by delamer
Wed May 31, 2017 2:16 pm
Forum: Personal Investments
Topic: Future Retirement Plan
Replies: 46
Views: 4480

Re: Future Retirement Plan

I think you are absolutely golden with those numbers. I am not surprised by how secure you are given your posts in other threads :mrgreen: . In addition, I think with careful tax planning you may be able to avoid ever paying federal income taxes again (or at least it will be quite minimal). bigred7...
by delamer
Wed May 31, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

gensuki wrote:Hi delamer: The indexed 1998 value should have been $114,228. Instead I got $0. :annoyed
Ouch! So you did not have 35 years of Social Security earnings (excluding 1998) then?

(Not a criticism -- I don't either because I had 10 years under the CSRS federal retirement system.)
by delamer
Wed May 31, 2017 1:36 pm
Forum: Personal Investments
Topic: Future Retirement Plan
Replies: 46
Views: 4480

Re: Future Retirement Plan

A few questions:

If you didn't pay off your mortgage at 57 and continued with the monthly payments, at what age would it be paid off?

Does your expense estimate include health insurance and income taxes?

Is your spouse same age, younger, or older than you?
by delamer
Wed May 31, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 14662

Re: Play Money for Spouse....

1. OP's wife not 'asking for an allowance'. she's asking 'how much can i reasonably spend without torpedoing our financial plans?' there's a big difference between the two. 2. not everyone lives in lake boglebegone where all the earners make 400% of the national median, and all the stay-at-homes ar...
by delamer
Wed May 31, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

Using the SS calculation document pointed out by delamer (which was for 1955, coincidentally my birth year), my monthly benefit exceeds what my statement says by about $160 a month, so I can't match my numbers with the official statement. I was trying to match on the full retirement age which for m...
by delamer
Wed May 31, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Academic Question on a real world situation
Replies: 34
Views: 4013

Re: Academic Question on a real world situation

Another option would be to set aside a portion of your portfolio in cash that is equivalent to 5 to 10 years of expenses (over and above anything covered by Social Security/pension). The downside is that this reduces your return in an increasing market, but the upside is it protects you in an extend...
by delamer
Tue May 30, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Social security question
Replies: 22
Views: 3036

Re: Social security question

Assuming you had at least 35 years of Social Security earnings when you retired, it is unlikely that your projected benefit will change.
by delamer
Tue May 30, 2017 9:53 pm
Forum: Personal Investments
Topic: Lump Sum Vs. Annuity?
Replies: 13
Views: 2465

Re: Lump Sum Vs. Annuity?

delamer below is the answers o your questions 1) The pension is currently well funded. I work for a major oil comapny that is over a hundred years old. So it is fairly stable. 2) My expenses currently less than what my income should be in retirement. The only debt I have is a truck payment; which w...
by delamer
Tue May 30, 2017 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

Thanks, delamer. I missed seeing your reply the first time. I will check it out. Best of luck. I think there is a good chance that'll find the missing year does not make much difference to your benefit. But I agree with the earlier suggestion to contact your congressperson's office if you find the ...
by delamer
Tue May 30, 2017 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Any hope of getting my Social Security earnings corrected?
Replies: 25
Views: 3006

Re: Any hope of getting my Social Security earnings corrected?

Are you sure this error will have a material effect on your Social Security benefit? Social Security uses your highest 35 years of earnings (indexed by the average change in wages) to compute your benefit. Is the missing year one of your high-35 (indexed)? If no, then the error doesn't matter. If ye...
by delamer
Tue May 30, 2017 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 14662

Re: Play Money for Spouse....

I like to see anything that goes in or goes out of my finances. The request that it be cash via ATM withdraw is a red flag from me. I don't critique every purchase my wife makes - I just want to see it so I know it's a valid purchase and that it is a valid amount. I don't hold anything against her ...
by delamer
Tue May 30, 2017 2:50 pm
Forum: Personal Investments
Topic: New to the forum and retiring this fall
Replies: 55
Views: 7836

Re: New to the forum and retiring this fall

Definitely worth thinking about. Thanks. Are you signficantly younger than your spouse? It doesn't sound good for the spouse to have - 25% survivor pension even with a small (why Small?) insurance policy. If spouse is older, then maybe ok. Are you sure there isn't a 100% benefit forthe spouse with ...
by delamer
Tue May 30, 2017 1:40 pm
Forum: Personal Investments
Topic: Helping my parents with their retirement
Replies: 31
Views: 5285

Re: Helping my parents with their retirement

So, taking the pensions with a survivor annuity they'll have $4000/month in pensions and about $1.1 million in savings. The savings should generate a safe 4% withdrawal, or another $3600/month. That means $7600/month, before Social Security. Any idea on the SS? Of course, you'll need to make the sam...
by delamer
Tue May 30, 2017 12:05 pm
Forum: Personal Investments
Topic: New to the forum and retiring this fall
Replies: 55
Views: 7836

Re: New to the forum and retiring this fall

Definitely worth thinking about. Thanks. Are you signficantly younger than your spouse? It doesn't sound good for the spouse to have - 25% survivor pension even with a small (why Small?) insurance policy. If spouse is older, then maybe ok. Are you sure there isn't a 100% benefit forthe spouse with ...
by delamer
Tue May 30, 2017 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

This: 3. After the age of 65, should one choose Medicare Part B, FEHB, or both? There have been numerous discussions but I have not seen a convincing lean to either direction. Would love to hear what your "guy" says about it, in plain English . Thanks for sharing. What do you mean by plain English?...
by delamer
Tue May 30, 2017 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

This: 3. After the age of 65, should one choose Medicare Part B, FEHB, or both? There have been numerous discussions but I have not seen a convincing lean to either direction. Would love to hear what your "guy" says about it, in plain English . Thanks for sharing. A relative has Part A, Part B, and...
by delamer
Tue May 30, 2017 11:44 am
Forum: Personal Investments
Topic: New to the forum and retiring this fall
Replies: 55
Views: 7836

Re: New to the forum and retiring this fall

It can be changed back to 50% before officially retiring, but at what cost? The 25% costs 5% of my pension. The 50% (maximum) costs 10% of pension. That works out to an additional cost of approximately $5,000/year. The federal retirement experts I've spoken with so far have shown figures that the e...
by delamer
Mon May 29, 2017 10:19 pm
Forum: Personal Investments
Topic: Before I put the money down
Replies: 2
Views: 748

Re: Before I put the money down

It looks like you have 3, or maybe 4, goals for your savings: 1. Save for retirement 2. Save for a downpayment on a house 3. Save for your child's college expenses 4. Save for a goal in 10 years (as identified by your wife) You'd be better to set up an asset allocation unique to each of those goals,...
by delamer
Mon May 29, 2017 9:19 pm
Forum: Personal Consumer Issues
Topic: Buying parents home--how to navigate
Replies: 12
Views: 2025

Re: Buying parents home--how to navigate

It isn't clear from your post if you'd be sole owner (with your wife) of the property and letting them live in it rent-free or charging them rent or sharing ownership with them, or some other alternative. Is this a place they live in year round while you'd only live there part-time? If you would be ...
by delamer
Mon May 29, 2017 6:18 pm
Forum: Personal Investments
Topic: Helping my parents with their retirement
Replies: 31
Views: 5285

Re: Helping my parents with their retirement

I suspect that your mother's pension is required to be paid out as an annuity with a 50% survivor's benefit for your father unless your father signs off on a different arrangement. Generally, the guaranteed pension will be a better deal than taking the lump sum, assuming your mother lives an average...
by delamer
Sun May 28, 2017 8:03 pm
Forum: Personal Investments
Topic: How to return 5% with low risk?
Replies: 15
Views: 2849

Re: How to return 5% with low risk?

You might find this enlightening: https://personal.vanguard.com/us/insigh ... llocations

Note not just the average annual return, but also the worst year and years with loss.
by delamer
Sun May 28, 2017 7:59 pm
Forum: Personal Investments
Topic: Leaving Edward Jones at 64
Replies: 13
Views: 3291

Re: Leaving Edward Jones at 64

Thanks to everyone who answered. Right now all my investments are mutual funds. Like others have stated, when I look in my monthly recap it shows no Fees or Charges although last year my advisor moved my money into tons of accounts instead of the few I originally had. Every time my advisor wanted t...
by delamer
Sun May 28, 2017 5:58 pm
Forum: Personal Investments
Topic: A more modest inheritance
Replies: 16
Views: 3175

Re: A more modest inheritance

before they gain too much that one will always have second thoughts about selling. I don't quite get this. If they gain above the basis, that is good, isn't it? comparable to the gains you would get from anything else, and if it's 'too much', perhaps better. And a capital gain, right? Meanwhile the...
by delamer
Sun May 28, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

... My understanding is that in order for a spouse to keep FEHB benefits upon the death of the employee they must choose the survivor option. This is probably worth clarifying but, if true, would dramatically increase the value of the survivor benefit. That's correct. However, you can select a tiny...
by delamer
Sun May 28, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 14662

Re: Play Money for Spouse....

You should have a mutually agreed-upon budget based on your total family income. Her income and your income belong to both of you; it doesn't matter who earns it. One budget item should be $500 (or whatever) a month that she can spend how she chooses, if that fits into your agreed-upon budget. If $5...
by delamer
Sun May 28, 2017 4:24 pm
Forum: Personal Investments
Topic: How are my investments?
Replies: 10
Views: 1332

Re: How are my investments?

This is a 16-page document that is worth reading for someone in your position:

http://www.etf.com/docs/IfYouCan.pdf
by delamer
Sun May 28, 2017 4:18 pm
Forum: Personal Investments
Topic: Leaving Edward Jones at 64
Replies: 13
Views: 3291

Re: Leaving Edward Jones at 64

How is the money in your SEP-IRA currently invested? You can move the IRA money to Vanguard without making a final decision on how to invest the money. You may be able to transfer the same investments (called an in-kind transfer). Or you can sell everything and put it in a money market fund at Vangu...
by delamer
Sun May 28, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

My understanding is that in order for a spouse to keep FEHB benefits upon the death of the employee they must choose the survivor option. This is probably worth clarifying but, if true, would dramatically increase the value of the survivor benefit. Yes that is true. Also the 5-year rule (except in ...
by delamer
Sun May 28, 2017 11:03 am
Forum: Personal Investments
Topic: Portfolio and career change advice sought
Replies: 7
Views: 1018

Re: Portfolio and career change advice sought

There are two stages to your potential retirement. First is the stage before you take Social Security. In that stage, your $100K income must come entirely from your savings. Second is the stage once you've begun Social Security. In that stage, your income needed from your savings is $100K minus $Soc...
by delamer
Sun May 28, 2017 10:39 am
Forum: Personal Consumer Issues
Topic: Good way of comparing Used Car prices?
Replies: 10
Views: 1605

Re: Good way of comparing Used Car prices?

Try edmunds.com. It will give you a "true market value" for any model and any year vehicle based on recent sales in your area. You can compare that to the prices you are finding. And even though you might not care about trim lines and model year, the price for a base 2012 model is going to be signif...
by delamer
Sun May 28, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: When to start talking to older parents regarding their finances (and how to do it?)
Replies: 37
Views: 5556

Re: When to start talking to older parents regarding their finances (and how to do it?)

I was the executrix for both my mother and my aunt. Fortunately for me, my mother had a file folder containing every conceivable bit of information that I might need - not just her social security number and bank account information, but her dates of military service, date of marriage, date of divo...
by delamer
Sun May 28, 2017 10:23 am
Forum: Personal Investments
Topic: Lump Sum Vs. Annuity?
Replies: 13
Views: 2465

Re: Lump Sum Vs. Annuity?

I am struggling with the decision to lump or pension. Talked with a money and he ran the numbers assuming a lump sum. One of my concerns is he said I would be broke at 90. My dad is 92 and going strong. Also he makes more money by me taking a lump sum. My pension does not have a cost of living incr...
by delamer
Sat May 27, 2017 5:37 pm
Forum: Personal Investments
Topic: Advice on this portfolio
Replies: 6
Views: 1259

Re: Advice on this portfolio

Is this money in a taxable account, rather than an inherited IRA? Do you have any other investments?

If you have determined that the risk you are comfortable with for this money is 20/80 -- which is conservative for your age, if this is your only account -- then there are simpler ways to get there.
by delamer
Sat May 27, 2017 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity post retirement
Replies: 16
Views: 1642

Re: Annuity post retirement

THank you very much everybody; this is all very valuable information. There are no specifics yet as to the cost and type of annuity. All this advisor is suggesting is to annuitize retirement savings instead of having an IRA. In case the in laws agree, he will call "the right guy because you have to...
by delamer
Sat May 27, 2017 4:06 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

By "where," do you mean

1) what type of investment (stocks, bonds, cash) or
2) what custodian for the investment (Vanguard, Schwab, Fidelity, etc.) or
3) type of account (taxable, Roth IRA, traditional IRA, 401(k))?
by delamer
Sat May 27, 2017 3:40 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

They match 1% of 4% of his salary. So if he makes 1200 a week, 4% would be $48, they put in $12. That's the max, even though he is putting in $200 a week, they only match the 1% of 4% of his salary. So even though he puts in $200 a week, they still only match the $12. Are you certain about this? I ...
by delamer
Sat May 27, 2017 3:32 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

I guess maybe it is 2.1% which is a decent fixed income rate. Yeah I meant 2.1%. Although Livesoft found it through a search as higher, I can't find the fund online. I have a statement here that year to date has been .52% I'm still confused as to where he should invest, the 401K he currently has or...
by delamer
Sat May 27, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: AMT and Long term capital gains
Replies: 3
Views: 1129

Re: AMT and Long term capital gains

As far as I understand AMT, House Blend is correct about the preferential rates for long term capital gains not changing even if ordinary income is subject the AMT. But there is a big caveat: long term capital gains interact with the AMT exemption phaseout, and an additional 6.5% or 7% tax can unex...
by delamer
Sat May 27, 2017 2:58 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

A Roth IRA would be fine for him, rather than putting more into the 401(k). It would cost him taxes that he doesn't need to pay, so I will disagree and say it would not be fine for him. Even a deductible traditional IRA might be better for his wife. With both of them contributing (him $24,000 and h...
by delamer
Sat May 27, 2017 2:50 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

EDIT: If his adjusted gross income is less than $62,000 -- which it sounds like it is -- rather than putting more into the 401(k), he can get a tax deduction for a traditional IRA. The Vanguard LifeStrategy Income fund might be a good option for his non-401(k) money, if he feels comfortable being a ...
by delamer
Sat May 27, 2017 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity post retirement
Replies: 16
Views: 1642

Re: Annuity post retirement

If the $100,000 is their entire life savings, don't annuitize it. If they had an emergency that required $10,000, how could they come up with the money?

At their age and with their assets (again, assuming that $100,000 is everything), do nothing more complex than a CD ladder.
by delamer
Sat May 27, 2017 2:06 pm
Forum: Personal Investments
Topic: Asking for help/ideas for my Father's retirement fund
Replies: 33
Views: 2015

Re: Asking for help/ideas for my Father's retirement fund

Your father is investing as conservatively as possible right now, by having all his money in a money market fund. So if "conservative as possible" is really his goal, then he shouldn't change anything. As conservative as possible isn't consistent with having any stocks or bonds. So the issue is, is ...
by delamer
Sat May 27, 2017 1:32 pm
Forum: Personal Investments
Topic: Rebalancing
Replies: 8
Views: 1050

Re: Rebalancing

Are you investing in a taxable account or a tax-advantaged account?
by delamer
Sat May 27, 2017 11:59 am
Forum: Personal Finance (Not Investing)
Topic: When to start talking to older parents regarding their finances (and how to do it?)
Replies: 37
Views: 5556

Re: When to start talking to older parents regarding their finances (and how to do it?)

I am well aware the post is not about me. But I am about the same age as OP's parents, and I do know how I would feel and probably how I would react if I were asked about this at this point in my life--and maybe even for the next several years. But all families are different, so carry on ... I find...
by delamer
Fri May 26, 2017 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

My understanding is that one of the reasons that TSP fees are so low is because of the restrictions on withdrawal options. I don't find them that onerous, and would not trade the low fees for more withdrawal options.
by delamer
Fri May 26, 2017 7:31 pm
Forum: Personal Investments
Topic: I think I've done an OK job so far, but would love help simplifying.
Replies: 11
Views: 2075

Re: I think I've done an OK job so far, but would love help simplifying.

Your emergency fund should not be in stocks at all. The time you are most likely to need it is when the stock market tanks. Stick to cash or a short-term bond fund. You are on the right track with the 3-fund portfolio, but you should implement it across your entire portfolio. Your point about the bo...
by delamer
Fri May 26, 2017 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Is It Worth It? [to continue collecting Social Security Disability]
Replies: 3
Views: 1099

Re: Is It Worth It?

I believe your wife is only entitled to half of your benefit at your FRA, at maximum. Her spousal benefit does not increase if you delay. So she may be entitled to more based on her own work record. However, if you die before her, she would get a survivor's benefit equal to your actual benefit if yo...
by delamer
Fri May 26, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Meeting with retirement guru, specializes in federal govt employees
Replies: 72
Views: 10648

Re: Meeting with retirement guru, specializes in federal govt employees

Specifics that I'd want to discuss: 1. Can he help with, or direct me to someone who can, tax decisions and help me plan a long-term tax strategy that takes into account Social Security claiming strategies and RMDs? 2. Is he familiar with the issues regarding non-spouses inheriting TSP accounts? How...