Search found 1437 matches

by Flobes
Thu Mar 25, 2021 6:08 pm
Forum: Personal Investments
Topic: Is My Wife's Social Security subject to WEP or GPO?
Replies: 16
Views: 1733

Re: Is My Wife's Social Security subject to WEP or GPO?

I don't think you can lump sum yourself out of WEP/GPO. If you take your government pension annuity in a lump sum, Social Security still will calculate the reduction as if you chose to get monthly benefit payments from your government work. Under current law there are two ways to mitigate the WEP f...
by Flobes
Thu Mar 25, 2021 2:30 pm
Forum: Personal Investments
Topic: Is My Wife's Social Security subject to WEP or GPO?
Replies: 16
Views: 1733

Re: Is My Wife's Social Security subject to WEP or GPO?

What, if any, documentation will we need to provide the SSA to prove that her pension is from earnings that had SS deducted. When she applies for benefits, a section of the SS application called "Other Pensions/Annuities" is comprised of three yes/no questions: • Ever work in a job where ...
by Flobes
Sun Mar 21, 2021 11:02 am
Forum: Personal Investments
Topic: Roth Conversion + Contribution
Replies: 5
Views: 313

Re: Roth Conversion + Contribution

Roth conversions do not impact eligibility for Roth contributions.
by Flobes
Fri Mar 19, 2021 2:14 pm
Forum: Personal Consumer Issues
Topic: People with Covid-19 vaccination record cards: where are you keeping them?
Replies: 163
Views: 13839

Re: People with Covid-19 vaccination record cards: where are you keeping them?

I cut a corner of a heavy sheet protector, and my original card is snugly within it. I keep it with my passport. My shots were at local hospital. From an online portal, I'm able to print my official vaccination record. It's got many more details than the card, and is obviously official. A copy w/pas...
by Flobes
Wed Mar 17, 2021 10:36 pm
Forum: Personal Consumer Issues
Topic: How To Provide Feedback to Amazon About Their Website
Replies: 22
Views: 1474

Re: How To Provide Feedback to Amazon About Their Website

. Any ideas how to contact Amazon to suggest they put this back? Jeff@amazon.com +1 Emails sent to jeff@amazon.com are read by real people, and you'll get a personalized response that is pertinent to your message, no later than within a day. Sometimes there's ongoing conversation, via email or phone.
by Flobes
Tue Mar 16, 2021 2:50 am
Forum: Personal Finance (Not Investing)
Topic: How much income would justify paying $2500 for a finance planner?
Replies: 58
Views: 5732

Re: How much income would justify paying $2500 for a finance planner?

Quoting myself from 2014: Some years ago, I stumbled onto this Forum. I was clueless. I read the books, studied the wiki, cruised many many threads. I consolidated my accounts, and handled a bunch of small messy stuff. Still lacking the confidence to pull the trigger, I contacted one of the venerabl...
by Flobes
Fri Mar 12, 2021 11:07 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy cliff now going away! Yay!
Replies: 155
Views: 17500

Re: ACA subsidy cliff now going away! Yay!

I buy directly from my insurer. It seems I will now need to enroll through Healthcare.gov (or maybe BCBS can move me over within their system)? Policy is identical to marketplace plan. Perhaps I should give this a week for other people to plow this path first rather than being the guinea pig. Does ...
by Flobes
Sat Mar 06, 2021 3:11 pm
Forum: Personal Consumer Issues
Topic: Home fire safe or safe deposit box?
Replies: 28
Views: 2225

Re: Home fire safe or safe deposit box?

The SD box is incredibly inconvenient... In some jurisdictions, a safety deposit box is sealed as soon as bank receives notice of an owner's death. Joint owners and other signators are locked out. When my father died quite suddenly, a friendly bank CSR called my mother and told her to go immediatel...
by Flobes
Sat Mar 06, 2021 1:49 pm
Forum: Personal Investments
Topic: Advice for Inheritance Money
Replies: 13
Views: 1573

Re: Advice for Inheritance Money

First consideration: This inheritance is her money, not their money. Unless she decides otherwise by sharing and commingling.
by Flobes
Fri Mar 05, 2021 12:09 am
Forum: Personal Consumer Issues
Topic: 2021 Sunglasses Thread 😎
Replies: 62
Views: 4680

Re: 2021 Sunglasses Thread 😎

As I just finished driving directly into the 5:30pm Florida sun, I’m ordering new sunglasses TONIGHT... I literally could barely see anything and my eyes hurt/seeing spots. What’s the consensus on best and most value sunglasses to buy these days? Ideally I’d just like to order tonight online, so so...
by Flobes
Thu Feb 25, 2021 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Equitably dividing estate when a pension is involved
Replies: 36
Views: 1321

Re: Equitably dividing estate when a pension is involved

Name a charity as your pension beneficiary.

That's what I did.
by Flobes
Wed Feb 24, 2021 10:46 pm
Forum: Investing - Theory, News & General
Topic: is my understanding of tax loss harvesting correct?
Replies: 66
Views: 3583

Re: is my understanding of tax loss harvesting correct?

I am 32 years old and it seems like with tax loss harvesting I have the potential to directly save $1200 in taxes every year... Taking that $3000/year loss each year can be even more beneficial than just the federal tax savings. For those who are dancing on the AGI/MAGI line for certain benefits, s...
by Flobes
Mon Feb 22, 2021 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: IRS overpayment
Replies: 2
Views: 320

Re: IRS overpayment

Also doable via IRS Direct Pay.
Reason: Tax Return • Apply Payment to: 1040 • Tax: Year 2020
by Flobes
Sat Feb 20, 2021 11:14 pm
Forum: Investing - Theory, News & General
Topic: Delaying Social Security
Replies: 88
Views: 6447

Re: Delaying Social Security

Will you want to do Roth conversions?
by Flobes
Wed Feb 17, 2021 5:01 pm
Forum: Personal Investments
Topic: Divorcee with "large sum" of money from divorce settlement question.
Replies: 9
Views: 2140

Re: Divorcee with "large sum" of money from divorce settlement question.

Encourage her to visit the Bogleheads Forum as a place to freely learn.

Let her know that we have kindly advised many divorcees and widows.
by Flobes
Sun Feb 14, 2021 11:48 am
Forum: Non-US Investing
Topic: HSA qualifying deductions outside USA
Replies: 2
Views: 427

Re: HSA qualifying deductions outside USA

I have a health/vision/dental plan in the US which costs $32/month and is HSA eligible. Are you certain your plan is HSA eligible? I take it the $400 or so per year spent on the plan, allows me to deduct $400 per year from the HSA You cannot use HSA to pay for health insurance premiums. Can I also ...
by Flobes
Mon Feb 08, 2021 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: POA, MPOA for for 18 year old son?
Replies: 46
Views: 1900

Re: POA, MPOA for for 18 year old son?

My son turned 18 and will go to to college. I want to be prepared for the worst. For example, what if he gets into a car accident and becomes incapacitated? I want to be able to access his medical records, schools records and made decision on his behalf. Five Wishes | Making Your Wishes Known From ...
by Flobes
Mon Feb 08, 2021 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Filing for Social Security at Age 70
Replies: 44
Views: 4256

Re: Advice on Filing for Social Security at Age 70

we are primarily reliant upon people's reported experience with regard to the actual application process itself. So it's very helpful to get a report As we're collecting current anecdotal tales, several weeks ago I applied online for SS to begin whence I turn 70 in several months. This morning I go...
by Flobes
Sun Feb 07, 2021 12:31 pm
Forum: Personal Consumer Issues
Topic: Alt phone svs so I don't have to give out primary cell number
Replies: 26
Views: 2174

Re: Alt phone svs so I don't have to give out primary cell number

I'm looking for a way to get an alternate phone service that will save me from having to give out my primary cell phone number at websites that require a phone number to proceed or other uses As I single person, I now have two cell numbers and two iPhones. I switched to TMobile 55+. For net additio...
by Flobes
Sat Feb 06, 2021 8:28 am
Forum: Personal Finance (Not Investing)
Topic: tax question
Replies: 50
Views: 2815

Re: tax question

She has also started selling custom cookies. Currently, she does not sell many cookies. I would say in the month of February, she will profit less than $200. And that is by far the most she will have profited in a month. In December, she probably profited $100 and before that is was only a handful ...
by Flobes
Wed Feb 03, 2021 11:40 am
Forum: Personal Finance (Not Investing)
Topic: SS Widow's Benefits and impact of GPO
Replies: 3
Views: 207

Re: SS Widow's Benefits and impact of GPO

This document from SSA details the exceptions to GPO, and attaining FRA is not one of them:
Government Pension Offset
by Flobes
Tue Feb 02, 2021 2:01 pm
Forum: Investing - Theory, News & General
Topic: Madness of Crowds
Replies: 104
Views: 8353

Re: Madness of Crowds

I’m looking forward to reading William Bernstein’s new book The Delusions of Crowds: Why People Go Mad in Groups , set to release at the end of the month. Neat - didn't know about that. Will buy. You can freely read the book's opening now, The Delusions of Crowds: Prelude , downloadable from Dr. Be...
by Flobes
Mon Feb 01, 2021 2:23 pm
Forum: Personal Investments
Topic: Inherited IRA RMDs
Replies: 6
Views: 422

Re: Inherited IRA RMDs

I also have the understanding that the RMD for all accounts can be pulled from any account as long as the total amount is sufficient for all of the RMDs that year... 2. Leave the Pre-SECURE Act accounts alone to grow tax free until I have to draw from them in ten years time. 3. Withdraw the total y...
by Flobes
Mon Feb 01, 2021 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Inheriting a timeshare???
Replies: 26
Views: 2068

Re: Inheriting a timeshare???

matty_boston wrote: Mon Feb 01, 2021 1:57 pm I have the opportunity to inherit a timeshare by my parents who will no longer be using it.
Are you inheriting this from deceased parents? Or are your living parents giving it to you?
by Flobes
Sat Jan 30, 2021 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: roth IRA & tax return
Replies: 5
Views: 459

Re: roth IRA & tax return

It doesn't seem that you need to do anything in your tax return when you contribute Roth IRA? Correct. Do nothing. Do you need to file 8606 for Roth IRA contribution? No. Form 8606 is filed for Roth conversions, but not for Roth contributions. Form 5498 will be send out in May by the financial inst...
by Flobes
Wed Jan 27, 2021 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Starting SS; stopping 5510 Medicare autopay
Replies: 9
Views: 592

Re: Starting SS; stopping 5510 Medicare autopay

Thanks for the cheerful helpful replies. I followed Huey's ^guidance, and today I "stopped" autopay online at Medicare.gov with a simple click. Might or might not be in time for February debit. I'll pay all interim months of Medicare as they are billed to me, online, charged to my cash-bac...
by Flobes
Wed Jan 27, 2021 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Starting SS; stopping 5510 Medicare autopay
Replies: 9
Views: 592

Re: Starting SS; stopping 5510 Medicare autopay

You can stop the easypay online after logging into your Medicare account. You can then make monthly Medicare premium payment online. Thanks muchly, Huey. I went there, and sure enough it's easy enough. So with SS benefits starting May, I should pay Medicare in April for May? But not in May for June...
by Flobes
Wed Jan 27, 2021 5:34 pm
Forum: Personal Investments
Topic: Tax 1099 Vanguard
Replies: 7
Views: 590

Re: Tax 1099 Vanguard

Will I also need to be taxed for my investment returns? Because I don't see the investment return amount anywhere on the 1099. 😳 No, those are unrealized gains. So I will only be taxed for those gains if I withdraw from my index funds?? Kinda. You "sell" the funds; you don't "withdra...
by Flobes
Wed Jan 27, 2021 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Starting SS; stopping 5510 Medicare autopay
Replies: 9
Views: 592

Starting SS; stopping 5510 Medicare autopay

Preamble: • I have applied fo SS benefits to begin whence I turn 70 in May. • My Medicare B is currently paid by monthly auto withdrawals from my checking account via SF5510. • As Medicare will automatically be deducted from SS benefits, the 5510 autopayment needs to stop. Q1: When and how to stop a...
by Flobes
Wed Jan 27, 2021 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Mini Roth Coversions Before RMD Starts
Replies: 12
Views: 787

Re: Mini Roth Coversions Before RMD Starts

Estate and tax planning for a client living in NYC. Husband - 65 yr old, 500k tIRA, 13k SSI ...cash flow & SSI SSI is Supplemental Security Income, a program pays benefits to disabled adults and children who have limited income and resources. His assets are too high to qualify for SSI. Likely h...
by Flobes
Mon Jan 18, 2021 8:02 pm
Forum: Personal Consumer Issues
Topic: Preparing for 2021 Garden - Seed Suppliers
Replies: 19
Views: 1385

Re: Preparing for 2021 Garden - Seed Suppliers

I'm still very much an amateur gardener, so... Guess it's good I'm planning now, although California is having freakishly warm weather this winter, so who knows when spring will roll around. +1 Baker Creek Heirloom Seeds Bonus: The printed catalog is a pure delight and an education. Seeds Now Organ...
by Flobes
Sat Jan 16, 2021 11:47 am
Forum: Personal Investments
Topic: Tracking VG After-Tax sub-account gains/losses
Replies: 2
Views: 144

Re: Tracking VG After-Tax sub-account gains/losses

home_body wrote: Sat Jan 16, 2021 11:40 am Is there an easy way to track the gains/losses... on VG's site?
Hit the "Cost Basis" tab.

View: • Unrealized gains and losses • Realized gains and losses • Gifted Shares

Use down arrow to view details of individual lots.
by Flobes
Mon Jan 11, 2021 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-R query
Replies: 18
Views: 1311

Re: 1099-R query

mikejuss wrote: Mon Jan 11, 2021 6:58 pm ...which I did not pay tax on because I filed form 5498...
...Will filing form 5498 clear this up?
You, the taxpayer, do not file Form 5498.

It's the form the institution files to IRS to report your contribution(s) to your retirement account, and you get a copy for your records.
by Flobes
Mon Jan 11, 2021 6:23 pm
Forum: Personal Consumer Issues
Topic: how to use American Airlines miles?
Replies: 6
Views: 774

Re: how to use American Airlines miles?

Donate them
by Flobes
Mon Jan 11, 2021 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Any podcast on social security and medicare issues?
Replies: 6
Views: 551

Re: Any podcast on social security and medicare issues?

Since I'm covered by the Windfall Elimination Provision, I would guess it would do me no good to wait to collect social security. WEP determines how your initial Social Security benefit amount is calculated. You will still receive any and all delayed credits as well as COLAs on your SS benefits, an...
by Flobes
Wed Jan 06, 2021 10:38 am
Forum: Personal Finance (Not Investing)
Topic: MFJ with one on Medicare, one on ACA
Replies: 3
Views: 323

Re: MFJ with one on Medicare, one on ACA

Now one of us will be going on Medicare and the other remain on ACA. Does that mean any changes for annual reporting of MAGI ? Subsidies for the one on ACA will now be determined as a "single" but the MAGI will still based on the household income. Your MAGI will need to be lower to mainta...
by Flobes
Sat Jan 02, 2021 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard still using the old RMD schedule....
Replies: 7
Views: 851

Re: Vanguard still using the old RMD schedule....

1210sda wrote: Sat Jan 02, 2021 6:06 pm I was under the impression that the new schedule was to be effective January 1, 2021.

Am I wrong on this??
New schedule was originally announced for 2021 debut. But it's been pushed back to 2022. For now...
by Flobes
Sat Jan 02, 2021 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 QCD at Vanguard
Replies: 53
Views: 2703

Re: 2021 QCD at Vanguard

...we have written QCD checks for as small as $18... $18 is a very good number for a donation. :beer Q1: When multiple QCD requests are made online, do they arrive together in a single package or are they mailed one by one? So when I request 180 $18 QCD gifts, do I get one big envelope of 180 check...
by Flobes
Sat Jan 02, 2021 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 QCD at Vanguard
Replies: 53
Views: 2703

Re: 2021 QCD at Vanguard

Flobes - Follow this track after logging into your account My Accounts>Retirement contributions, distributions & RMDs>RMD>Take your RMD now. I am on the old platform also. Thanks muchly for prompt response. QCD option is not visible there now. Likely because system knows that I'm not yet old en...
by Flobes
Sat Jan 02, 2021 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 QCD at Vanguard
Replies: 53
Views: 2703

Re: 2021 QCD at Vanguard

I am watching this thread with keen personal interest. In November 2021, I turn 70.5. It's been my plan to then make QCDs from my Inherited IRA in lieu of (and perhaps in excess of) RMD. It has a much higher RMD factor than my own Traditional IRA will incur in two years when I'm 72. I've also used t...
by Flobes
Thu Dec 31, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Underpayment safe harbor with no tax liability prior year
Replies: 3
Views: 284

Re: Underpayment safe harbor with no tax liability prior year

I'm helping my parents with their taxes. I believe that because they had no tax liability in 2019, they have automatically met the safe harbor for 2020 and can simply pay what they owe when they file by April 15, 2021. They won't have to file form 2210. Am I correct? Yes. Their safe harbor amount i...
by Flobes
Tue Dec 29, 2020 3:41 pm
Forum: Personal Investments
Topic: Inheritance Help
Replies: 29
Views: 1773

Re: Inheritance Help

So you advise to not go the route of the Vanguard Personal Advisors? I think I'd still feel comfortable at least having them help me set everything up in Vanguard and get the ball rolling, then maybe next year I'll be more knowledgeable (and confident) and can take on my investments by myself. Alth...
by Flobes
Tue Dec 29, 2020 1:03 pm
Forum: Personal Investments
Topic: Inheritance Help
Replies: 29
Views: 1773

Re: Inheritance Help

I am about to receive a pretty large inheritance... I am currently invested in a Roth IRA with Edward Jones.... I have been doing a ton of research on what to do...any advice whatsoever on how to manage this money... I really like the idea of having a financial advisor to help make decisions in my ...
by Flobes
Sat Dec 26, 2020 3:32 pm
Forum: Investing - Theory, News & General
Topic: Impact of Windfall Elimination Provision on Social Security
Replies: 13
Views: 1732

Re: Impact of Windfall Elimination Provision on Social Security

...it's been updated to $1,142/mo if I wait until 70 to claim. I only have 7 years of "substantial" earnings so I will plan not to have any social security. Bummer. You will have your SS benefits, just that they will be reduced by WEP. It's not a total wipeout to zero. Having "substa...
by Flobes
Fri Dec 25, 2020 12:16 pm
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 139
Views: 12976

Re: Does one need a bank account anymore?

+1 Medallion Signature Guarantees. Plus Bank Signatures Guarantees and IBond redemptions. I maintain account at a nearby B&M, a local bank with branches scattered among the towns in the region. Very community-centered: rewards for good report cards, funding local celebrations, supporting nonprof...
by Flobes
Thu Dec 24, 2020 11:35 am
Forum: Personal Finance (Not Investing)
Topic: $3000 refundable tax credit
Replies: 8
Views: 1341

Re: $3000 refundable tax credit

kaneohe wrote: Wed Dec 23, 2020 9:34 pm Any other ideas?
$3000 carry-forward capital loss, perched by the winds on the wrong branch of your Mac's 1040 tree? Number matches...
by Flobes
Thu Dec 24, 2020 11:30 am
Forum: Investing - Theory, News & General
Topic: Impact of Windfall Elimination Provision on Social Security
Replies: 13
Views: 1732

Re: Impact of Windfall Elimination Provision on Social Security

I'm trying to wrap my head around the WEP's effect on my social security. ...I do not anticipate any future contributions to SS because my gov't job participates in the WEP. ...I have 401a and 403b accounts. Does that make a difference? ...I've had no social security taxes taken from my payroll for...
by Flobes
Wed Dec 23, 2020 1:04 pm
Forum: Investing - Theory, News & General
Topic: TLH benefits by tax bracket?
Replies: 22
Views: 1293

Re: TLH benefits by tax bracket?

...I seriously question if the increased benefit outway the costs...TLH have no benefit at all and potentially even be negative? For those who are dancing on the AGI/MAGI line for certain benefits, starting a 1040 with minus $3000 can be very helpful for garnering particular tax credits, avoiding c...
by Flobes
Wed Dec 23, 2020 10:19 am
Forum: Personal Investments
Topic: Cares Act/Inherited IRA situation
Replies: 10
Views: 845

Re: Cares Act/Inherited IRA situation

Recliner wrote: Wed Dec 23, 2020 10:11 am
celia wrote: Wed Dec 23, 2020 4:18 am Since the RMDs are $0 this year for everyone,.
The $0 RMD is for people with an inherited IRA too? I was trying to figure that out before making my withdrawal for this year
Yes.
by Flobes
Mon Dec 21, 2020 12:38 pm
Forum: Personal Investments
Topic: Options For Receiving a Financial Plan Without Ongoing Advice
Replies: 42
Views: 2215

Re: Options For Receiving a Financial Plan Without Ongoing Advice

Harry Sit, who posts here as tfb, runs The Finance Buff website. He offers a service that matches you to an appropriate advice only (not management) expert. Check it out here: Advice Only Advisors Allan Roth offers financial planning for an hourly fee. He is also an author, regular magazine contribu...