Search found 260 matches

by Retired2013
Sat Apr 03, 2021 11:16 am
Forum: Personal Investments
Topic: Lump sum vs. Annuity...it's time to decide - need some help!
Replies: 25
Views: 2261

Re: Lump sum vs. Annuity...it's time to decide - need some help!

Really need to know the amount in investments to decide how much you need the guaranteed income I’d delay SS and then based on investment income decide about the pension. If I had a lot of investment income, I’d take lump sum. We have about $2.3M with a targeted AA of 30/70 stock/FI. The guaranteed...
by Retired2013
Thu Mar 25, 2021 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: JTWRS Problems - what are my options?
Replies: 136
Views: 10458

Re: JTWRS Nightmare - what are my options?

FWIW we have a JTWROS account at Etrade. Either of us can independently transact on the account (including trading and drawing checks on the account. What we were told they would not do is make transfers out of the account without the written permission of both owners. Regarding your JTWROS account...
by Retired2013
Thu Mar 18, 2021 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice about shopping for life insurance after father's sudden passing
Replies: 27
Views: 2214

Re: Need advice about shopping for life insurance after father's sudden passing

You are required to answer the questions that are asked. Our applications usually had a checklist of various conditions for certain family members. Cancer, blood pressure and heart disease would be on those lists. For cancer, our experience was a parent’s cancer under 60 resulted in an increased ri...
by Retired2013
Tue Mar 16, 2021 2:27 pm
Forum: Personal Consumer Issues
Topic: Parking RV In Driveway
Replies: 60
Views: 4587

Re: Parking RV In Driveway

On a side note, be mindful of your neighbors too. Is the RV hidden enough on your driveway that it’s not an eyesore for the neighborhood. Sorry to be blunt but I think an RV (especially an older model) or large boat looks awful in most neighborhoods. I would be very annoyed if my next door neighbor...
by Retired2013
Sun Feb 21, 2021 6:47 am
Forum: Investing - Theory, News & General
Topic: Delaying Social Security
Replies: 88
Views: 6447

Re: Delaying Social Security

What do you mean by negative cash flow? If you take in $1,000 in a given period and have $1,200 of expenses during that same period, you have a negative cash flow. Your cash flow for the period is negative $200. In my case I expect to have $2,200 per month in after-tax pension income. My monthly ex...
by Retired2013
Sat Feb 20, 2021 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Revealing net worth
Replies: 251
Views: 16526

Re: Revealing net worth

Neighbor 1 is 67, DW 65, retired with a $8,000 monthly pension . Paid off house $200k. Neighbor 2 about same age with $1.9M in retirement accounts. Also paid off $200k house. NW neighbor 1 is $200k NW neighbor 2 is $2.1M Neighbor 2 feels well off, yet the value of neighbor 1's pension equals the val...
by Retired2013
Sat Feb 20, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Making Sense of Healthcare.gov Pricing and Subsidies
Replies: 59
Views: 2989

Re: Making Sense of Healthcare.gov Pricing and Subsidies

As I understand it, the premiums are paid based on projected MAGI for the next year. If the resulting MAGI is, let's say, higher than one expected, do you then have to pay a recapture tax of some kind since you paid a lower premium than you should have? How does this work? Yes, you get form 1095-A ...
by Retired2013
Sat Feb 20, 2021 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Making Sense of Healthcare.gov Pricing and Subsidies
Replies: 59
Views: 2989

Re: Making Sense of Healthcare.gov Pricing and Subsidies

As I understand it, the premiums are paid based on projected MAGI for the next year. If the resulting MAGI is, let's say, higher than one expected, do you then have to pay a recapture tax of some kind since you paid a lower premium than you should have? How does this work? Yes, you get form 1095-A ...
by Retired2013
Wed Feb 03, 2021 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Should I Spend on Estate Planning?
Replies: 33
Views: 1909

Re: How Much Should I Spend on Estate Planning?

Same situation. No kids but we are now 63 & 62. We just did a simple will last year with the other documents. As I always said, 100% of the assets to transfer to the spouse by beneficiary or joint tenant. The only asset that wasn't covered was the cars. Even after doing the will last year, 90% ...
by Retired2013
Wed Feb 03, 2021 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Should I Spend on Estate Planning?
Replies: 33
Views: 1909

Re: How Much Should I Spend on Estate Planning?

Same situation. No kids but we are now 63 & 62. We just did a simple will last year with the other documents. As I always said, 100% of the assets to transfer to the spouse by beneficiary or joint tenant. The only asset that wasn't covered was the cars. Even after doing the will last year, 90% o...
by Retired2013
Thu Jan 28, 2021 8:09 am
Forum: Personal Consumer Issues
Topic: Where do you keep the original of your will?
Replies: 69
Views: 5180

Re: Where do you keep the original of you will?

Maybe this is state/region specific, but our county allows you to file your original, signed will with the "Register of Wills" at the county courthouse for safekeeping. There is a small fee for this (around $5 as I recall), but it seemed like a good idea for safe keeping. And the price wa...
by Retired2013
Wed Jan 20, 2021 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Twenty Four Years of Taxes
Replies: 75
Views: 8536

Re: Twenty Four Years of Taxes

I haven't tracked my income taxes paid but I have tracked the Real Estate taxes. We built our home, 2,500 sqft colonial in 1993 for $165k and as of today, we have paid $175k in Real Estate taxes. Yet we live in a LCOL area.
by Retired2013
Sun Dec 20, 2020 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Do my wife and I even need a traditional estate plan?
Replies: 78
Views: 4058

Re: Do my wife and I even need a traditional estate plan?

Rudy We were in the same situation. We have no kids and are leaving everything to the other spouse. I kept saying the same thing you are saying. The big question was what happens when the second person dies. My wife would say; Don’t worry! If I’m the survivor, I’m spending it all! I would say back; ...
by Retired2013
Mon Nov 30, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: CD at Ally bank matures Aug 2021. Will I get a 1099Int in 2020 ??
Replies: 10
Views: 999

Re: CD at Ally bank matures Aug 2021. Will I get a 1099Int in 2020 ??

According to Ally's website 12 month or less – interest is credited to your CD at maturity More than 12 months – interest is credited to your CD at year's end (annually) It's been my experience with any CD less than 12 months I receive the 1099 the year it matures. +1 No 1099 until it's paid for th...
by Retired2013
Sun Nov 08, 2020 7:48 am
Forum: Personal Consumer Issues
Topic: What do you give your adult children at holiday time?
Replies: 175
Views: 12630

Re: What do you giver your adult children at holiday time?

In years past of suggesting gifting to families/kids much worse off than us, 529 contributions, etc the ideas are shot down right away and I just end up being the “Scrooge” for trying to interject some rationality/practicality. Deeply ingrained tradition for most I suppose....already getting frustr...
by Retired2013
Sat Nov 07, 2020 5:27 pm
Forum: Personal Investments
Topic: Whose IRA to convert first?
Replies: 12
Views: 1633

Re: Whose IRA to convert first?

New York allows $20k exemption per person after age 59.5 so I will make sure I withdraw / convert $20k from each person tax-deferred account first. I then look at the balance to see how many years it would take to drawdown a balance. Since the spouse's tax-deferred balance is only around $200k, that...
by Retired2013
Thu Oct 29, 2020 7:08 am
Forum: Personal Consumer Issues
Topic: Battle O'r the Estate
Replies: 123
Views: 9440

Re: Battle O'r the Estate

He's frustrated that its taking so long for his mooch brother to get a loan and he keeps getting rejected so he does wonder if something is fishy going on. Also the degenerate brother is cosigning with the mooch but that is still dragging out. So he def has reservations and is wondering if shady th...
by Retired2013
Mon Sep 14, 2020 6:41 am
Forum: Investing - Theory, News & General
Topic: Dollar Limits on ACH or EFT transfers for online banking
Replies: 14
Views: 1253

Re: Dollar Limits on ACH or EFT transfers for online banking

My mother had an account at Key Bank. Her limit was $2,000 per day. It took 3 transactions to move $5,000. No longer doing business with Key Bank.
by Retired2013
Thu Sep 10, 2020 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning
Replies: 10
Views: 1138

Re: Estate planning

We also have no children and are leaving everything to our siblings, nieces and nephews. We wanted to leave 50% of the assets to each side of the family. We used the beneficiary (percentage) on each account and a large spreadsheet to calculate everything. First, the primary beneficiary is the other...
by Retired2013
Wed Sep 09, 2020 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning
Replies: 10
Views: 1138

Re: Estate planning

We also have no children and are leaving everything to our siblings, nieces and nephews. We wanted to leave 50% of the assets to each side of the family. We used the beneficiary (percentage) on each account and a large spreadsheet to calculate everything. First, the primary beneficiary is the other ...
by Retired2013
Sun Aug 30, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: 100k Loophole Question
Replies: 16
Views: 2770

Re: 100k Loophole Question

This was back in 1987 but it was the first financial transaction we did that was outside the norms. My mother wasn’t happy with the declining CD rates and we wanted to refinance our home. Our current mortgage was a 30 yr and we were 2 years into the mortgage wanting to go to a 15-year mortgage. My b...
by Retired2013
Thu Jul 23, 2020 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Deciding whether to retire - it's difficult!
Replies: 77
Views: 9891

Re: Deciding whether to retire - it's difficult!

Retire now and enjoy / help your parents. I retired three years before my mother passed-away and I'm so glad I had those three years, every day with her.
by Retired2013
Sun Jun 14, 2020 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Drawbacks of No Cost Refi if buying new house soon?
Replies: 12
Views: 751

Re: Drawbacks of No Cost Refi if buying new house soon?

From the ones I've seen, if you close the loan within a few years (5 yrs) or life of draw period, then the closing costs are added to the payoff.
by Retired2013
Sun Jun 14, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Need advice on inherited IRA and tax impact
Replies: 22
Views: 1027

Re: Need advice on inherited IRA and tax impact

If you have enough other assets, and your children are the contingent beneficiaries, and they're in lower brackets, you could disclaim (waive) some or all of the IRA so that it would pass to your children. I like this idea but isn't this assuming that he / she is an only child or beneficiary? If he...
by Retired2013
Mon Jun 01, 2020 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: FICO Score: Moves back and forth every couple of months
Replies: 34
Views: 2158

Re: FICO Score: Moves back and forth every couple of months

Mine does the same thing. I suspect for you it may be the credit utilization percentage. Try paying your balance every two weeks and see what happens. Mine also does the same thing. I notice that if all of my credit cards have a zero balance in the same month, my FICO is actually lower than if I le...
by Retired2013
Thu Apr 30, 2020 2:46 pm
Forum: Investing - Theory, News & General
Topic: If you believing in Timing the market, Would you reduce equity allocation now?
Replies: 110
Views: 8317

Re: If you believing in Timing the market, Would you reduce equity allocation now?

I did and would pull back from a standard AA equity position. I pulled back from 70/30 to 50/50. Rationale: Market is ~13% from peak. Peak was overvalued to begin with. Even assuming it wasn't, the trouble in the economy is clear and undeniable in contrast to pre-COVID conditions. 13% seems like a ...
by Retired2013
Thu Apr 23, 2020 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Work Hours Reduced and then Furloughed
Replies: 37
Views: 5566

Re: Work Hours Reduced and then Furloughed

I get what everyone is saying about filing for unemployment benefits, but I am somewhat embarrassed. I know it’s coming out of my paycheck and all but still. I do not get it- that is exactly what unemployment is for. go do it. +1 Do you think your company is embarrassed for laying you off? No! They...
by Retired2013
Wed Apr 22, 2020 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 5107

Re: Delay mortgage payments under CARES Act

I agree, that's why I asked about this specifically and he told me that there is no interest due from the suspension period. I sent an email to him a few minutes ago to confirm everything in writing. I'd ask to see if there is a formal document that they can send you that memorializes the terms of ...
by Retired2013
Wed Apr 22, 2020 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Chase's new instant transfer feature
Replies: 3
Views: 1082

Re: Chase's new instant transfer feature

I saw Chase now offers instant transfer to the owner's account at other banks. Chase's FAQ says: What is a real-time transfer? Real-time transfers are a new way to send and receive money within moments, using the U.S. real-time payments network. What is this "real-time payments network"? ...
by Retired2013
Tue Apr 21, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: PPP Payroll Timing Question
Replies: 4
Views: 461

Re: PPP Payroll Timing Question

My husband and I own a small business with less than 10 employees. Last week, we received a PPP loan. I have a question on payroll timing. We received the loan last Friday April 17th. We run payroll twice a month, the 15th and last day of the month. Eight weeks from April 17th is June 12th. We took...
by Retired2013
Tue Apr 21, 2020 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4446

Re: Surprised that there is no esponsibility to track down beneficiaries on death

The executor has no authority or responsibility with respect to non probate authority including assets that pass under "operation of law", generally via beneficiary designations. However, can a will impose a duty on the executor to "coordinate" the transfer of these assets betwe...
by Retired2013
Fri Mar 27, 2020 4:37 pm
Forum: Investing - Theory, News & General
Topic: [CARES Act] Overview
Replies: 98
Views: 6889

Re: CARE Act Overview

[See below -- moderator oldcomputerguy] Here are some high levels points from the Senate passed CARE Act. 2020 Recovery Rebates for Individuals All US residents with Adjusted Gross Income (AGI) up to $75,000 ($150,000 married filing joint) are eligible for a full stimulus payment of $1,200 ($2,400 ...
by Retired2013
Wed Mar 25, 2020 4:10 pm
Forum: Personal Investments
Topic: Baby conversions tIRA->Roth worth it?
Replies: 17
Views: 639

Re: Baby conversions tIRA->Roth worth it?

I am toying with converting a small amount (low 5 figures, ~2% of my tIRA balance) of tIRA to my Roth now because the market is down, I will have fewer capital gains/dividends in my taxable account this year and I expect my spouse will make less this year due to coronavirus. I've avoided it in the ...
by Retired2013
Wed Mar 25, 2020 4:05 pm
Forum: Personal Investments
Topic: Baby conversions tIRA->Roth worth it?
Replies: 17
Views: 639

Re: Baby conversions tIRA->Roth worth it?

What I did Monday was exchanged in my 401(k) $xxx sold S&P 500 and bought Stable Value. Then in my Vanguard Account (Roth accounts) I exchanged $xxx sold an equal amount of MM and purchased the same amount of S&P 500. The loss in my 401(k) has now been transferred to my Roth so as the market...
by Retired2013
Wed Mar 25, 2020 2:54 pm
Forum: Personal Investments
Topic: Baby conversions tIRA->Roth worth it?
Replies: 17
Views: 639

Re: Baby conversions tIRA->Roth worth it?

I am toying with converting a small amount (low 5 figures, ~2% of my tIRA balance) of tIRA to my Roth now because the market is down, I will have fewer capital gains/dividends in my taxable account this year and I expect my spouse will make less this year due to coronavirus. I've avoided it in the ...
by Retired2013
Wed Mar 25, 2020 2:34 pm
Forum: Investing - Theory, News & General
Topic: So bottom is probably behind us....right?
Replies: 709
Views: 65691

Re: So bottom is probably behind us....right?

I believe we'll test the lows again. No earnings out yet and not at the end of the virus, which will spread across the US. As for the bill that is about to pass. Why did they pick a March 24, 2020 date for the business employee count. To me, that means every employee that has already been laid off w...
by Retired2013
Mon Mar 23, 2020 10:04 am
Forum: Investing - Theory, News & General
Topic: Time to Sell tax-defer & buy in Roth
Replies: 9
Views: 631

Re: Time to Sell tax-defer & buy in Roth

I think he may be saying if you already have MM/cash dollars in your Roth and have stock in your TIRA to reposition stock from your TIRA to the ROTH. So basically exchanging stock in TIRA to MM there and also exchange same amount of MM in Roth to stock so 100% of any future recovery gains are reali...
by Retired2013
Mon Mar 23, 2020 8:33 am
Forum: Investing - Theory, News & General
Topic: Time to Sell tax-defer & buy in Roth
Replies: 9
Views: 631

Re: Time to Sell tax-defer & buy in Roth

No not a conversion. I'm selling $xxx of S&P 500 in my tax deferred and then buying the exact same amount in my Roth account. A form of tax loss harvesting?
by Retired2013
Mon Mar 23, 2020 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion planning in a bear market
Replies: 63
Views: 4460

Re: Roth conversion planning in a bear market

Addressing the original question regarding converting more dollars due to a market drop: The examples I've done the math on agree with what I've read many times over the years: you benefit from the conversions only when your tax rate is lower at the time of the conversion compared to what your tax ...
by Retired2013
Mon Mar 23, 2020 7:48 am
Forum: Investing - Theory, News & General
Topic: Time to Sell tax-defer & buy in Roth
Replies: 9
Views: 631

Time to Sell tax-defer & buy in Roth

If you have cash / MM available in your Roth accounts, It might be time to TLH. I'm thinking of selling $$ in my 401(k) and buying the same amount in my Roth account. Just a thought for anybody with funds available for buying in the Roth accounts.
by Retired2013
Mon Mar 09, 2020 5:58 am
Forum: Investing - Theory, News & General
Topic: S&P500 Futures halted tonight (3/8)
Replies: 233
Views: 16698

Re: S&P500 Futures halted tonight (5/8)

I believe the technicians would say that, in a correction, they look at the market trying to form a bottom. And one or more successful test(s) of the old lows might be encouragement of putting in a bottom? Or is technical analysis even useful in black swan events like this coronavirus event? March ...
by Retired2013
Fri Jan 31, 2020 6:00 am
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 53459

Re: $3 million the new rule of thumb?

The title of the linked article is "$3 million is the new $1 million". If there was a rule of thumb that $1 million was needed for retirement 45 years ago, and if inflation averaged 2.5% over the last 45 years, then that same rule of thumb should be that $3 million is needed for retiremen...
by Retired2013
Sun Jan 26, 2020 2:47 pm
Forum: Personal Investments
Topic: Leaving TIRAs to kids vs.spouse and vs. Roth conversions
Replies: 24
Views: 1298

Re: Leaving TIRAs to kids vs.spouse and vs. Roth conversions

I thought I read once that if the Primary beneficiary declines the asset, then it would go back to the estate? It was noted that the declining beneficiary doesn't get to choose the next beneficiary? So if the parent declines the funds as primary beneficiary, it might not just go to the second benefi...
by Retired2013
Sun Jan 26, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice and Medicare Advantage Plans - a little known Catch22
Replies: 79
Views: 5014

Re: A reprise of my mother's hospice and Medicare Advantage plan "catch-22"

Also, the day you sign the person into hospice, any charges for that day are not covered by Medicare Advantage. I signed my family member into hospice late in the day, after running some tests the doctor recommend to help with the decision. Everything done that day, was paid by the Medicare Advantag...
by Retired2013
Sat Jan 25, 2020 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: FICO Changes Could Change Your Credit Score
Replies: 10
Views: 1252

Re: FICO Changes Could Change Your Credit Score

For the past several years, my credit score is 819 on all three agency except Trans union. Trans union fluctuates between 819 & 783. I usually pay the full balance on the day my next statement will print so my balance is $0. I notice that for Trans union, if my utilization is $0, they actually l...
by Retired2013
Fri Jan 24, 2020 3:04 pm
Forum: Personal Consumer Issues
Topic: Costco Optometrist vs Independent Office Eye dr
Replies: 42
Views: 3556

Re: Costco Optometrist vs Independent Office Eye dr

DW and I go to an ophthalmologist, always have and always will. You only get one set of eyes. My insurance doesn't have eye coverage, yet my doctor excepts my insurance. What doe that mean? When we go, the eye exam includes glaucoma testing. The bill with no insurance is for $225. This bill is sent ...
by Retired2013
Mon Jan 13, 2020 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: ACA ... Asset Allocation backed in a corner
Replies: 65
Views: 4344

Re: ACA ... Asset Allocation backed in a corner

Thanks for the clarification. I understand what the "real" cliff is with the ACA- wasn't sure of the amounts for married, single, etc. A friend of mine is battling with keeping his income low to get the full amount of subsides. That seems kind of self defeating to me to a point- limiting ...
by Retired2013
Mon Jan 13, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Family member with almost no retirement savings or assets, what to do?
Replies: 55
Views: 7602

Re: Family member with almost no retirement savings or assets, what to do?

My wife’s aunt (turning 89 next week) receives about $700 SS and a $50 monthly pension. She worked minimum wage jobs her whole life and never legally married her husband. For the past 34 years she has lived in HUD housing and the rent is based on her income. She pays around $100 per month for a very...
by Retired2013
Tue Jan 07, 2020 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Beneficiary surprise
Replies: 47
Views: 6378

Re: Vanguard Beneficiary surprise

We ran into this with our taxable Vanguard holdings. We just made sure that our will and standby trust instructions were clear on how those holdings should be distributed. Considering this is really only an issue if the joint holders die together, it wasn’t worth doing something drastic over for ou...
by Retired2013
Tue Jan 07, 2020 9:30 am
Forum: Investing - Theory, News & General
Topic: What do you guys think about a career in insurance sales?
Replies: 80
Views: 5929

Re: What do you guys think about a career in insurance sales?

I try very hard to steer students away from pursuing a 'sports management' type of degree. In the arenas I'm familiar with, the supply of willing applicants far exceeds the number of available jobs. Universities are not doing students most students a service by offering these programs, though the h...