Search found 2677 matches

by Carl53
Sun Jun 25, 2023 5:38 am
Forum: Personal Finance (Not Investing)
Topic: Social Security projections
Replies: 27
Views: 4069

Re: Social Security projections

If you look at your MySSA earnings history and see that the last recorded value is zero, then my experience is that the projection they have for you uses zero from then on. My recollection is that their earnings history lags a lot.
by Carl53
Fri Jun 23, 2023 10:15 am
Forum: Personal Finance (Not Investing)
Topic: QCD or Donation to DAF?
Replies: 32
Views: 2547

Re: QCD or Donation to DAF?

Sure, conceptually a QCD may be better in most cases, but in order to have a definitive answer for your particular circumstances, a tax projection is necessary. And the time needed to prepare a reasonably accurate tax projection depends on the complexity of your return. Even a relatively simple professionally prepared projection can take a couple of hours from beginning to end. Could you give me an example where using a DAF is better than a QCD? If you wanted to make a $50k donation this year but spread it over a few years then it might be a reason to go with DAF assuming that you were already going to get the full standard deduction. If the funds were otherwise coming from a TIRA I'm not sure this would be better than doing smaller QCDs o...
by Carl53
Fri Jun 23, 2023 9:56 am
Forum: Personal Investments
Topic: No Roth accounts - prepare for tax issues ahead?
Replies: 81
Views: 9468

Re: No Roth accounts - prepare for tax issues ahead?

toddthebod wrote: Fri Jun 23, 2023 9:48 am
BogleTaxPro wrote: Fri Jun 23, 2023 9:35 am And your
"Traditional IRA mistakenly opened with after tax money in prior naivete ($8K)"
can be converted to a Roth now.
No it can't.
Your going to have to check into prorata rules since you have both after tax and pre tax IRA funds. Your wife's can be converted without that burden.
by Carl53
Fri Jun 23, 2023 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Checking Account - Minimum Balance?
Replies: 88
Views: 7213

Re: Checking Account - Minimum Balance?

Typically have $1-8k (depending on day of the month) in our free, but no interest checking at a credit union. This account receives direct deposit of pension and SS benefits. I use its bill pay for maybe five regular bills that have started charging fees for CC. Just note the account number to assure proper merchant credit and forget the statement. I use a high yield MM account at another bank to auto pull a fixed amount of funds once a month from which several CCs are autopaid. That account is growing over time again after a recent pull down following a vacation. We do write an occasional check from the CU account. The bill pays are mostly electronic funds transfer, but some the CU writes a check for.
by Carl53
Tue Jun 20, 2023 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to relocate: can we afford this home?
Replies: 108
Views: 12753

Re: Preparing to relocate: can we afford this home?

While I hate moving, I'd suggest going with option 1. It offers the most flexibility while keeping your family intact. One concern would be getting a rental in a school district where you will end up.
by Carl53
Mon Jun 19, 2023 4:56 am
Forum: Personal Consumer Issues
Topic: Hints? Ship small oil painting to Australia
Replies: 9
Views: 1104

Re: Hints? Ship small oil painting to Australia

I don't recall the lead paint attestation when we shipped perhaps a few hundred pounds of personal and sentimental items to DD in Melbourne in 2020. We used Uline. In our case they provided a special pallet with a box that assembled on top and then picked it up and did all of the shipping. We did fill out a few forms that included a listing of all items. There were a few paintings included in box and a 100 year old toy painted (likely lead) metal tractor. I know it sat in Customs in Australia for several months but we attributed that more to Covid.
by Carl53
Thu Jun 15, 2023 6:01 pm
Forum: Personal Consumer Issues
Topic: How does one do the Kentucky Derby?
Replies: 24
Views: 2986

Re: How does one do the Kentucky Derby?

It's been years since I've been to area for an overnight but there are some interesting sights nearby. One could spend a few nights and explore the Shaker Village (I really enjoyed) https://shakervillageky.org/about-us/, the Kentucky Horse Farm on I75 or the Ark https://arkencounter.com/tickets/ besides taking in the mint juleps. I'm sure she and her cousin will pack their finest hats.
by Carl53
Thu Jun 15, 2023 8:24 am
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215589

Re: New fee for Vanguard mutual accounts [June 2023 update]

As I mentioned previously, we had multiple MF and brokerage accounts back from the horse race Roth conversion days. I consolidated existing like retirement brokerage accounts and manually moved each MF holdings to appropriate brokerage accounts rather than transitioning as it appeared to me that new brokerage accounts would be created by transitioning. I then deleted the old brokerage accounts. The old MF accounts with no holdings (the names of prior holdings with zero value still display) still display. I did transition a joint MF account with less than $50 in it. Seems that we both still have full transaction authority for all of our accounts.
by Carl53
Thu Jun 15, 2023 7:22 am
Forum: Personal Investments
Topic: Pension Question
Replies: 15
Views: 1622

Re: Pension Question

Some pensions paid a fixed amount per year or month of service rather than being based on a multiplier of what you were earning. The amount might be bumped up by negotiations in the future. Talk to your union. They should be able to provide you a copy of the contract or other documentation as to how the pension contributions and future benefit distributions will be handled. In any case, you can see that your future pension will not likely be large and hopefully you can build an IRA and will be able to have Social Security to collectively fund an adequate retirement. IMHO, union based pension funds have notoriously been underfunded or mismanaged and being left to PBGC to try to pick up the pieces often at less than full restitution. The numb...
by Carl53
Mon Jun 12, 2023 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance and Will Question from new dad
Replies: 64
Views: 4832

Re: Life insurance and Will Question from new dad

Consider getting a term policy on your wife also, whether or not if she is working. We've had several low cost term policies through https://www.zanderins.com/. Banner and Pacific Life have been the low cost term providers depending on your individual health factors.
by Carl53
Fri Jun 09, 2023 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Collecting SS on a restricted application - What to do at age 70?
Replies: 19
Views: 2830

Re: Collecting SS on a restricted application - What to do at age 70?

So what is the answer? I have this situation coming up later this year. Mun I ended up calling SSA and got a scheduled call back two months later. The well versed SSA rep, acknowledged that some of the online application inquiries were ambiguous. Took my application for own benefits switching from restricted spousal benefits as well as my spouse's application to switch from own benefits to spousal benefits. Be sure to tell them you want the maximum benefit and no retroactive benefits (unless you do). You got a scheduled call back TWO MONTHS LATER? Do you mean it took them 2 months to respond to your call? I recall that I had a computer respond to my initial call stating that a call would be scheduled since the local office that would handl...
by Carl53
Sun Jun 04, 2023 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Projecting Growth of Social Security Benefit at Age 70
Replies: 55
Views: 2924

Re: Help With Projecting Growth of Social Security Benefit at Age 70

Assuming that your wife is now paying into SS via her nursing career, you can simulate her own projected SS benefits using the AnyPIA link provided earlier in the thread. If she has only modest SS covered earnings prior to this new nursing career it is highly unlikely that her own benefits will ever approach the projected PIA numbers for you. In any case you might try various scenarios for her working career with it. Then take your PIA numbers together with hers to see what OpenSocialSecurity says. Pay particular attention to the numbers it shows should either of you pass. Being 13 years older you are more likely to pass and she will be eligible for your higher benefit. Study up on when it might be most beneficial for her to take widow's b...
by Carl53
Sun Jun 04, 2023 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Projecting Growth of Social Security Benefit at Age 70
Replies: 55
Views: 2924

Re: Help With Projecting Growth of Social Security Benefit at Age 70

Assuming that your wife is now paying into SS via her nursing career, you can simulate her own projected SS benefits using the AnyPIA link provided earlier in the thread. If she has only modest SS covered earnings prior to this new nursing career it is highly unlikely that her own benefits will ever approach the projected PIA numbers for you. In any case you might try various scenarios for her working career with it. Then take your PIA numbers together with hers to see what OpenSocialSecurity says. Pay particular attention to the numbers it shows should either of you pass. Being 13 years older you are more likely to pass and she will be eligible for your higher benefit. Study up on when it might be most beneficial for her to take widow's be...
by Carl53
Sat Jun 03, 2023 5:48 pm
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215589

Re: New fee for Vanguard mutual accounts [June 2023 update]

Hmm. I assumed those would have been closed automatically. It's been so long since I transitioned to the brokerage I can't remember the original mechanics. But I think I had a mutual fund account and an old brokerage account one day, and then the next day I had a merged new brokerage account. Old accounts didn't stick around (except their history). I looked closer at the accounts, and found that actually only 1 of the MF accounts had nothing in it for more than 2 years. Most of the empty ones were approaching one year empty. While empty, the more recent ones still display the ticker for holdings that were present the last time they were used but with zero balances. Regarding the Brokerage accounts, one of them no longer exists but three ha...
by Carl53
Sat Jun 03, 2023 2:37 pm
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215589

Re: New fee for Vanguard mutual accounts [June 2023 update]

We've moved everything from MF platform to brokerage accounts. The only one that was actually transitioned was a joint account with less than $50 in a MM fund. Otherwise we used to each use up to three TIRA and three Roth MF accounts and three TIRA and three Roth brokerage accounts from back in the day when Roth conversion horse racing was a thing. For these we just moved existing holdings for each of us to one TIRA and one Roth brokerage. The old MF and otherwise unused brokerage accounts remain and can be viewed. Those MF accounts may display former holdings at a zero balance. Am I correct that VG will view those empty accounts and holdings as a no-never-mind regarding potential charges? Not sure how to delete them nor really have any de...
by Carl53
Sat Jun 03, 2023 1:56 pm
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215589

Re: New fee for Vanguard mutual accounts [June 2023 update]

We've moved everything from MF platform to brokerage accounts. The only one that was actually transitioned was a joint account with less than $50 in a MM fund. Otherwise we used to each use up to three TIRA and three Roth MF accounts and three TIRA and three Roth brokerage accounts from back in the day when Roth conversion horse racing was a thing. For these we just moved existing holdings for each of us to one TIRA and one Roth brokerage. The old MF and otherwise unused brokerage accounts remain and can be viewed. Those MF accounts may display former holdings at a zero balance. Am I correct that VG will view those empty accounts and holdings as a no-never-mind regarding potential charges? Not sure how to delete them nor really have any des...
by Carl53
Fri Jun 02, 2023 4:08 am
Forum: Personal Finance (Not Investing)
Topic: PayPal Savings
Replies: 11
Views: 1023

Re: PayPal Savings

joelly wrote: Thu Jun 01, 2023 8:20 pm
Jack FFR1846 wrote: Thu Jun 01, 2023 7:43 pm Redneck Bank's megamoney account is 5.05% up to $100k.
I’ll check it out. Thanks so much!
I've had an account with them since 2009. Occasionally the rate leader but typically one of the highest rates. Got it linked to my primary checking account and VG. Been easy to push/pull funds. There have been some limits on the number and size of transfers but if you call them they have waved larger transaction limitations for me in the past.
by Carl53
Mon May 29, 2023 4:32 am
Forum: Personal Finance (Not Investing)
Topic: QCDs & State Tax Credits: a free lunch?
Replies: 37
Views: 3449

Re: QCDs & State Tax Credits: a free lunch?

Phil DeMuth wrote: Sun May 28, 2023 1:57 pm One more thing -- some states that charge state income tax do not respect QCDs. While you might get a credit for the QCD on your Federal return, your state might treat it as a taxable distribution from your IRA! So this would have to be taken into account as well.

As far as I know, these states are:

• California
• Connecticut
• Illinois
• Indiana
• Massachusetts
• Michigan
• New Jersey
• New York
• Ohio
• Rhode Island

...but if anyone knows better I would love to hear.
Just tested this out for Ohio with TT and find that Ohio does not add QCDs back in.
by Carl53
Sun May 28, 2023 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Home loan question for the mortgage gurus
Replies: 10
Views: 1745

Re: Home loan question for the mortgage gurus

You don't mention how much cash you have to put towards the new house. We purchased our current home for cash during the pandemic and took out a home equity line of credit on the former paid off home which we used to build an addition and renovate the new house prior to us moving. We put the old house up for sale a couple weeks or so before the new one would be ready. It quickly sold and at closing the HELOC was paid off. Local CU where I had been member for decades had a no closing cost, no fee appraisal HELOC that was quite attractive. I think they allowed 70% of the appraised value which we took full advantage of. If you could get a similar deal, it might provide around $400k towards the purchase if you could front the balance. I also re...
by Carl53
Sun May 28, 2023 5:45 pm
Forum: Personal Consumer Issues
Topic: Is a heat pump the right choice for us?
Replies: 67
Views: 6730

Re: Is a heat pump the right choice for us?

Prior home had an ground source heat pump that heated/cooled (water to air) as well as heated the hot water (water to water) and pool (water to water) but ultimately became a problem when the foreign manufacturer went out of business and I needed a replacement heat exchanger. That said here is a Bosch installation description that might be similar to your needs. https://www.bosch-homecomfort.com/us/media/country_pool/documents/casestudies/bosch_geothermal_case_study_oreno_mn_fourmation_sales_oct_3_2014_us_1_us.pdf They have several other case studies presented. https://www.bosch-homecomfort.com/us/en/residential/knowledge/case-studies-at-bosch-home-comfort/ In any case, I think you need a top notch professional that will provide a manual J ...
by Carl53
Fri May 19, 2023 2:09 pm
Forum: Personal Consumer Issues
Topic: What's Your Opinion of Menard's?
Replies: 101
Views: 9630

Re: What's Your Opinion of Menard's?

I prefer Menards vs Lowes and HD. That said they are a little further away than 2 different Lowes and I don't go as often. I like others wish the price was reduced vs a rebate. They used to have a lot of free rebates (purchase price refunded in full less tax), but are much more rare these days. I currently have over $200 purchases that I need to turn in for a $20+ in store rebate. One thing about those rebates, you aren't charged sales tax on the new purchase for the amount that the rebate voucher was for. Very curious but that's how they've done it for years. Other places like Rural King make it so you can file online. Way more convenient. I don't mind picking through pallets of wood looking for the good ones, since none of the stores have...
by Carl53
Sun May 14, 2023 4:07 am
Forum: Personal Investments
Topic: 529 Funding and Spending Strategy
Replies: 22
Views: 2234

Re: 529 Funding and Spending Strategy

I think I would take advantage of being able to pay their private school tuition from the 529 while you can as you likely are in a higher state income tax bracket.
by Carl53
Sun May 14, 2023 4:02 am
Forum: Personal Investments
Topic: Newly Widowed and $9,000,000 in assets
Replies: 56
Views: 11665

Re: Newly Widowed and $9,000,000 in assets

My condolences on your loss and welcome to the forum. You obviously are in great financial shape providing you are not taken advantage of. If your husband passed this year and if some of your assets are in traditional pretax IRA accounts, you might consider converting some modest of those to Roth accounts while you still can file jointly on your taxes. You don't mention what regular income you still have. Social Security, dividends, interest, pension etc. could be a significant fraction of your $120k expenses. You may find keeping up two houses to be expensive if you now are going to be hiring out more of the maintenance. Even if all of your $120k is coming from your assets, it is likely that the balance would grow substantially over the ne...
by Carl53
Sat May 13, 2023 6:55 am
Forum: Personal Consumer Issues
Topic: Windows 10 and can't create Microsoft account
Replies: 18
Views: 1064

Re: Windows 10 and can't create Microsoft account

I had it send an email with a code number to try to set up the account, which microsoft then said was invalid on my desktop. Went through this a few times and apparently it gave up. I hope this hassle is not something that is going to be ongoing every week or two as they provide updates. If so, I'll likely turn off updates.
by Carl53
Sat May 13, 2023 4:59 am
Forum: Personal Finance (Not Investing)
Topic: Getting Married This Year: MFS vs MFJ
Replies: 33
Views: 2654

Re: Getting Married This Year: MFS vs MFJ

For decades my sister and her husband used to file MFS. BIL claimed that he saved enough on state taxes to make it worthwhile since their incomes were very similar. I know their state, Ohio, still uses the same tax brackets for single or married, just has some one-off breaks like a joint filing income credit which is very modest.
by Carl53
Mon May 08, 2023 1:08 pm
Forum: Personal Investments
Topic: 69 yo thinking of Roth conversion: Does it make sense?
Replies: 25
Views: 2884

Re: 69 yo thinking of Roth conversion: Does it make sense?

That being the case, of course convert $13k per year until you start RMDs. It is likely that your RMDs will never be big enough to trigger taxes. My inlaws were in the same situation. For them, they had no Roths and were not interested in another account, so I had them just withdraw enough to avoid any taxes.
by Carl53
Mon May 08, 2023 12:42 pm
Forum: Personal Investments
Topic: 69 yo thinking of Roth conversion: Does it make sense?
Replies: 25
Views: 2884

Re: 69 yo thinking of Roth conversion: Does it make sense?

Does it make sense to covert about $25K from reg IRA to Roth this year? I am 69 yo. Everything I hold is at VG $88K in Roth $280K in regular IRA. 25K SS income: $5k Dividend income (approx) $15700 Standard Deduction + over 65 12% (up to $44725)Tax Rate (after standard deduction): $14300 Taxable income before conversion: Is my thinking/MATH correct: I could convert $25K from Reg. Ira to Roth bringing taxable income for 2023 to approx $39K; taxed at same 12% rate would mean I’m still under the next tax bracket, and therefore would still only be taxed 12% on gains? I hold $50K Total bonds and $185K Total stock. From which should I convert from? Does this make sense for me? I need to stay at 12% tax rate to take advantage of senior benefits he...
by Carl53
Mon May 08, 2023 7:01 am
Forum: Personal Investments
Topic: Funds for Traditional IRA/Back Door Roth
Replies: 5
Views: 546

Re: Funds for Traditional IRA/Back Door Roth

client9 wrote: Mon May 08, 2023 6:48 am This may be a very newbie question, but can I transfer funds sitting in the core SPAXX fund from my taxable account at Fidelity to my Traditional IRA (to do back door Roth IRA)? I'm assuming money sitting in SPAXX is just cash and I don't actually need to pull money from my checking account to fund the IRA. Thank you!
Be sure to be aware of pro rata rules regarding commingled pretax and post tax funds.
by Carl53
Sun May 07, 2023 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Pension with Critical and Declining status
Replies: 23
Views: 3063

Re: Pension with Critical and Declining status

When I took my pension, 15 years ago, I figured the company had 5 years until it declared bankruptcy. I was concerned that since I was in my 50s at the time that one or both of the pensions I was to receive (worked for 2 different groups of same company) would fail to be funded and that PBGC insurance would not fully cover the larger of the two and possibly might lump them together and I'd be way over what they'd fund given my age. To minimize my risk I chose levelized option for both of the plans (receive until age 62 what the company estimates I would get at 62 for SS and a reduced pension). Essentially got each pension bumped up by about $1000/month from the base number for 7 years and each post 62 pension was reduced by about $600/month...
by Carl53
Sat May 06, 2023 6:33 pm
Forum: Personal Investments
Topic: Portfolio Review: Marriage & Saving for a House.
Replies: 25
Views: 2252

Re: Portfolio Review: Marriage & Saving for a House.

As teachers at private schools, am I correct that Social Security (FICA) is taken out of your checks? If so, you have less pressure to keep maxing retirement accounts and might want to divert some to your house funds. Do max them if you can and certainly get any match, but you will have other life expenses that will need funded. Once you get settled, reevaluate what you can reasonably afford.

HYSA, short term Tbills and CDs will keep your funds liquid should a housing opportunity arise. You are in CA, and I suspect you will find it a challenge to come up with 20% down.
by Carl53
Thu May 04, 2023 11:21 am
Forum: Personal Investments
Topic: Portfolio Review - Student Loan Single Earner
Replies: 21
Views: 1992

Re: Portfolio Review - Student Loan Single Earner

Your 36.05% tax rate sounds like an effective overall rate, possibly including state income taxes for 2022. As a single with 401k and likely some other deductions, you likely were in the 35% marginal federal tax bracket last year with much of your income taxed at lower rates. In 2023, if you get married and file jointly, your marginal bracket (assuming your spouse has limited income) would probably be 24%, which tops out at $364k in taxable income. Backdoor Roths certainly look like good choices for you and your future spouse. The 4.8% you mention would only be about 3% after taxes at your last year marginal bracket and pretty much a wash with some of your loans. Definitely get rid of the 5.49% loan at a minimum. Regarding your portfolio, I...
by Carl53
Tue May 02, 2023 4:11 pm
Forum: Personal Consumer Issues
Topic: Tile Shower Costs
Replies: 22
Views: 3357

Re: Tile Shower Costs

About two years ago we did a new master bath and a laundry/half bath and some other work. I watched a bunch of videos particularly those of tilecoach https://www.youtube.com/channel/UCIYngkTOI-3hpgQAQM2-xhw. I ended up doing a combination of Schluter and Laticrete products with a FlowFX drain in the no barrier shower. Used herringbone tile on floor and in two inset back panels. Subway on shower walls with a 18 inch tile on bath and laundry floors. Laticrete Hydroban was used at my insistence underneath the bath and laundry tile floors and shower tiled walls. Originally there only was a small amount of hydroban on the orange Schluter floor pan at the joints. Rookie inspector would not pass it as everything was not Schluter orange. I then per...
by Carl53
Mon May 01, 2023 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Annual Statement
Replies: 3
Views: 656

Re: Pension Annual Statement

Several years ago, the government gave pension funds a different way to calculate liabilities so they would have to contribute less. Previously, if interest rates were low, they could not presume as high as returns on assets so they would have to contribute more. At that time they only had to use the last couple of years tbill rates (not sure which duration). They changed it to use 20 years average which allowed them to include some of those pre-2008 interest rates in their projected returns, which allowed the companies to get off the hook as far as providing more funding for the pensions. Apparently the law must have made them provide how underfunded the pension is according to the old rules as well as the revised rules. That's the gist of...
by Carl53
Mon May 01, 2023 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Soon to be married; Planning for our 30s
Replies: 6
Views: 778

Re: Soon to be married; Planning for our 30s

Make sure that you have 110% of 2022's tax obligation taken out of your checks for 2023 and some extra for Ohio too. Not sure if you are given any grace in year of marriage for under-withholding. Do this in particular if you do the conversion. You do not need to have all of the 2023 taxes withheld, just enough to meet the Safe Harbor requirements.
by Carl53
Mon May 01, 2023 12:41 pm
Forum: Personal Investments
Topic: CD VALUE.
Replies: 9
Views: 867

Re: CD VALUE.

Diaperman1 wrote: Mon May 01, 2023 9:44 am New to CD’s.
Laddered a few this month
If I look at my portfolio values today, it shows one of my $10K CD’s with a value of $10,045.31.
What is the $45.31 amount?
Believe that it represents what you could likely sell it for subject to accrued interest. The change would be due to current interest rates being lower than what you have.
by Carl53
Mon May 01, 2023 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Soon to be married; Planning for our 30s
Replies: 6
Views: 778

Re: Soon to be married; Planning for our 30s

Congratulations You don't mention your income levels but state that you will be in the 24% bracket. You might want to recheck that as it will not kick in until around $215k gross. If so, congratulations. 1. I think I would target maxing out your 401 plans and getting your spouse's rollover converted so that you can do backdoor Roths. Put whatever is left in your post tax accounts for the great vacations/home improvements that will come up. 2. See 1. Try to minimize your taxes. If you will have years in sub 24% take advantage of them. 3. I vote for HYSA, but not to live off of. Work to increase the 401 contributions to the max, but if you can't without having enough for living expenses, go to just that level and try to bump up the next year....
by Carl53
Mon May 01, 2023 10:30 am
Forum: Personal Consumer Issues
Topic: Thumping sound when driving: Tires, rotors, or ?
Replies: 45
Views: 3828

Re: Thumping sound when driving: Tires, rotors, or ?

Sit in different positions (start in back one side or other) while wife drives down a rural road at perhaps 45+ mph gently weaving the car back and forth to try to see how sound varies. You should be able to ascertain which wheel is the culprit. If it changes as the vehicle goes from left to right, then it is likely a wheel bearing. Otherwise it might be just an out of balance tire.

Got a friend that is a mechanic, YMMV.
by Carl53
Sun Apr 30, 2023 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Does it ever make sense not to take the joint and survivor pension option?
Replies: 62
Views: 7025

Re: Does it ever make sense not to take the joint and survivor pension option?

Will you be subject to GPO if you were to collect on her pension?
by Carl53
Sat Apr 29, 2023 8:14 am
Forum: Personal Investments
Topic: Taxes due on Roth conversion
Replies: 22
Views: 2337

Re: Taxes due on Roth conversion

If you are already taking SS, you will also likely make more of it taxable by doing conversions. If not, converting more of it prior to SS might prove tax efficient. If you typically make any charitable gifts, keeping some in your TIRA will allow you to make those contributions without paying taxes on the distributions (QCDs -qualified charitable distributions) post age 70.5.
by Carl53
Sat Apr 29, 2023 8:05 am
Forum: Personal Consumer Issues
Topic: Do you tip contractors that do work on your property?
Replies: 97
Views: 8061

Re: Do you tip contractors that do work on your property?

Generally not. I did give a couple of sub contractor workers a little extra for exceptional work that I viewed they were getting underpaid for. Also gave some extra to a friend (cabinet/furniture maker) that has done work for me previously and basically drove a number of days 35 miles each way to complete two different jobs that I wanted no one else to do (and one he really did not want to do). That one job I supplied all the decking and virtually every board required unique cutting. He gives me the bill and it is a ridiculously low dollar per hour and he has to suffer listening me about raising his fees for half an hour. He says he makes enough, but I gave him a check for maybe 20% extra on that job.
by Carl53
Fri Apr 28, 2023 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Dad was just laid off (61 years old)
Replies: 206
Views: 22662

Re: Dad was just laid off (61 years old)

Just last year, I made him liquidate a portion of his 401k to clear his debts, because otherwise he would've never done it. So now that all his debts are cleared, his living expenses are very low and his savings rate matches up to his This was almost certainly a serious mistake. At the risk of being rude, I would seriously reconsider the advice you are giving to your parents, and whether or not you should be giving them advice at all. There are always things that can't be inferred from a few posts on the internet - emotions do play a factor in such decisions. It isn't always black or white rational thinking. For example if I made a thread saying I wanted to buy an $80,000 car, I guarantee most people would tell me to wait until I was 50 ye...
by Carl53
Fri Apr 28, 2023 1:19 pm
Forum: Personal Investments
Topic: Bridge to SS with 2 pensions
Replies: 12
Views: 1814

Re: Bridge to SS with 2 pensions

I've been trying to think about your numbers. You may skate through your 60s by working a bit more and have a modest amount left (depending on inflation) once you start SS. Even if you work 5 years part time under SS it is not significantly going to increase your SS due to WEP. I would be concerned that your remaining assets be thin. Extending your existing job another or several years might bring more long-term security.
by Carl53
Fri Apr 28, 2023 2:58 am
Forum: Personal Investments
Topic: Bridge to SS with 2 pensions
Replies: 12
Views: 1814

Re: Bridge to SS with 2 pensions

Looking at your projected SS numbers leads me to believe that you will be relying on your wife's earnings and do not have 30 years of personal earnings under SS. I am not certain but believe WEP/GPO potential impacts need be considered if you have not. Hopefully others will be able to provide more meaningful guidance on the topic.
by Carl53
Tue Apr 25, 2023 5:25 pm
Forum: Personal Investments
Topic: Portfolio review in connection with income/expense change.
Replies: 2
Views: 536

Re: Portfolio review in connection with income/expense change.

I think if you were to include the dollar amount of your retirement assets, it might help others to better respond. Also, do you have 20 plus years at a relatively high income level and likely to have a substantial SS benefit someday?
by Carl53
Tue Apr 25, 2023 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Obvious dumb SS questions.
Replies: 9
Views: 2097

Re: Obvious dumb SS questions.

I looked at https://opensocialsecurity.com/ for your case. It seems to suggest from the graph at the bottom that taking the benefits earlier than DH=70 would be beneficial given the typical life expectancies. Your DH's expected work plans, family life expectancies, financial resources might make it worth to you to wait. Unfortunately for you, you cannot claim prior to your working spouse claiming. BTW you can select specific life expectancies by picking the box at the top.
by Carl53
Mon Apr 24, 2023 6:19 am
Forum: Personal Finance (Not Investing)
Topic: Should I purchase a Medicare supplement?
Replies: 202
Views: 16347

Re: Should I purchase a Medicare supplement?

While my spouse and I have pretty good to excellent health, I now have a monthly durable supply item that is nearly $600/month and spouse has an monthly infusion that is around $6k. Part G keeps these items available at no cost beyond the deductible without MA reviewing the doctors directives to see if we really could not go to something cheaper.
by Carl53
Mon Apr 24, 2023 6:06 am
Forum: Personal Finance (Not Investing)
Topic: Costs of a Kitchen Remodel with a Design-Build Company
Replies: 27
Views: 4354

Re: Costs of a Kitchen Remodel with a Design-Build Company

We used a design build outfit a couple years ago for an addition and kitchen relocation. While the DB did the permit/plans for the addition, the process was an expensive headache from start to finish with me coming up with the kitchen design, searching out and purchasing appliances and fixtures. He subcontracted out virtually everything with disappointing results with the exception of the countertop, excavation/concrete and tiling contractors. I used a local cabinet maker that I had experience with for the new cabinets and they make the final result great. I personally acquired the doors/trim etc and ended up installing some of it myself as DB could not figure it out, plus had to provide almost continuous onsite advice as DB and some contra...
by Carl53
Sun Apr 23, 2023 4:03 am
Forum: Personal Finance (Not Investing)
Topic: Should I purchase a Medicare supplement?
Replies: 202
Views: 16347

Re: Should I purchase a Medicare supplement?

Parkinglotracer wrote: Sun Apr 23, 2023 2:16 am A retired brain surgeon I know told me not to purchase one when I become eligible because it will limit what doctors I can see and what medical care I can get … I assume the other end of that trade off is if one doesn’t buy it they leave themselves open to unlimited medical bills?
Likely he was talking about a Medicare advantage plan and not the supplemental Part G.
by Carl53
Sun Apr 23, 2023 3:56 am
Forum: Personal Consumer Issues
Topic: Neighbors asked my spouse for money to cut down their trees
Replies: 259
Views: 27830

Re: Neighbors asked my spouse for money to cut down their trees

Offer half of cost, it could be a good investment. At our former house, moved two years ago, I had a number of trees removed over the years that showed signs of disease. A forty foot spruce that had not been removed crashed into the roof over the winter and new owners have a mess to deal with.
by Carl53
Sat Apr 22, 2023 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Selecting a Medicare Part D drug plan
Replies: 56
Views: 4350

Re: Selecting a Medicare Part D drug plan

Selecting a Part D plan seems quite maddening. You can get prices for plans, drugs on different tiers etc but terms can change after you are signed up. Talk about bait and switch. I've had several plans that were $20-$30 per month but seldom paid out anything as I take few medicines and the tier level was not favorable. Over time I started using GoodRx and getting my prescriptions written for 90 day generics (other than an occasional week long antibiotic). For the last couple years I've used Aetna Silver Script Smartsaver (lower price this year at $5.10/month) and started getting the recurring ones at our local Discount Drug Mart. They will check to see if the insurance is better than GoodRx (usually not). I use a closer independent pharmac...