Search found 602 matches

by VanGar+Goyle
Mon Mar 25, 2024 4:34 am
Forum: Personal Consumer Issues
Topic: "22 of the funniest novels since Catch-22" (acc. to the NYT)
Replies: 35
Views: 4056

Re: "22 of the funniest novels since Catch-22" (acc. to the NYT)

Catch-22 by Joseph Heller was published in 1961, the movie was 1970 with Alan Arkin as a B-25 bombardier.
The World According to Garp by John Irving' was published 1978, the movie was 1982 with Robin Williams as the son of a ball turret gunner.
The Garp book ( and GAAP Generally accepted accounting principles ), is much funnier with gradual students, under toads, and pre-disasted ;)
by VanGar+Goyle
Mon Mar 25, 2024 4:16 am
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 132
Views: 20444

Re: 20-30X income, is that the "retirement rut"?

techcrium wrote: Fri Jan 26, 2024 3:44 pm Say you are in your 40s with a $100,000 salary with a NW of $2,000,000 or 20x Income to NW ratio

... $2million doesn't carry your that far, especially in HCOL cities like NY or SF.
If you are losing money each year with a $100,000 salary, you need a better job, or to spend less.
by VanGar+Goyle
Mon Mar 25, 2024 4:03 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25584

Re: The best game-changing financial advice you ever received (or "discovered")

gunny2 wrote: Thu Mar 14, 2024 9:28 pm - "Pay yourself first" - put aside as much as you can in savings (or investing) so long as you can live off of the rest
Maximize your savings, automatically in a 401(a) or 403(b),

and

Never follow a boglehead to a second location.
by VanGar+Goyle
Mon Mar 25, 2024 3:56 am
Forum: Investing - Theory, News & General
Topic: It is really that simple to do it the Bogleheads way?
Replies: 87
Views: 8166

Re: It is really that simple to do it the Bogleheads way?

Cyath wrote: Sat Mar 23, 2024 4:58 am In short...is it really that easy to invest the Bogleheads way? I have read Jack Bogle's book and some other books on finance (Rich Dad
Poor Dad and some I can't remember offhand) and it seemed clear-cut and simple enough. Buy index funds, hold. Profit. It's almost
impossible to beat the market, so don't. ...

So is investing really as easy as buying and holding some recommended index funds?
It is so simple, that even with 132097 members, there are only 3 or so posts a day to bogleheads :wink:
by VanGar+Goyle
Mon Mar 25, 2024 3:50 am
Forum: Investing - Theory, News & General
Topic: Emerging Markets Stocks have been a complete disaster
Replies: 175
Views: 17684

Re: Emerging Markets Stocks have been a complete disaster

Walkure wrote: Fri Mar 08, 2024 8:11 am
VanGar+Goyle wrote: Fri Mar 08, 2024 1:00 am
Buying completely into your title, then you must have owned Emerging Markets Stocks in a Roth Account
and that account went to zero.
Not the OP, but I resemble that comment. FLRU still stings.
FLRU is an airport in Rufansa Zambia, or Feminist Legal Research Unit (University of Liverpool; UK), or a Russian ETF?
by VanGar+Goyle
Mon Mar 25, 2024 3:44 am
Forum: Personal Finance (Not Investing)
Topic: What are your "hidden" tax tips?
Replies: 56
Views: 4786

Re: What are your "hidden" tax tips?

Fat Tails wrote: Mon Mar 25, 2024 1:56 am
Svensk Anga wrote: Sun Mar 24, 2024 10:40 am Also, for those making IRA withdrawals, one can meet their selected safe harbor by withholding from an IRA withdrawal very late in the year, rather than making level quarterly payments. Keep your funds working for you for longer.
Yes, I do this and don’t have to bother making estimated tax payments.
Works for Roth Conversions and other distributions, instead of just withdrawals.
by VanGar+Goyle
Fri Mar 08, 2024 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes, Expenses
Replies: 18
Views: 1456

Re: Estimateing Taxes, Expenses

delamer wrote: Thu Mar 07, 2024 5:30 pm Ignoring Social Security isn’t reasonable.
About 54,566,000 people over the age of 65 receive Social Security.
Over 57,800,000 people are over the age of 65. So it is reasonable for over 5%.
by VanGar+Goyle
Fri Mar 08, 2024 1:00 am
Forum: Investing - Theory, News & General
Topic: Emerging Markets Stocks have been a complete disaster
Replies: 175
Views: 17684

Re: Emerging Markets Stocks have been a complete disaster

Always passive wrote: Sun Mar 03, 2024 10:53 am Emerging Markets Stocks have been a complete disaster for the past 30 years. Bonds have shined due to USD strength. See article in M*..
https://www.morningstar.com/stocks/when ... ng-markets

I have owned a small % but often want to get rid of this asset class. Comments?
Buying completely into your title, then you must have owned Emerging Markets Stocks in a Roth Account
and that account went to zero. Otherwise there would be some tax advantage.
It may have trailed US stocks, US Bonds, Foreign Bonds, and inflation, but not a complete disaster. :beer
by VanGar+Goyle
Fri Mar 08, 2024 12:48 am
Forum: Personal Investments
Topic: Roth Conversion better in market downturn?
Replies: 20
Views: 1899

Re: Roth Conversion better in market downturn?

comfortzone wrote: Wed Mar 06, 2024 11:15 pm 66 yr old retiree. Converting from Trad IRA to Roth over the next few years. Hypothetically is converting in a market downturn advantageous?
If you figured out that you should convert say $100,000 from Traditional IRA to a Roth IRA this year,
then if the market goes down enough, you could convert a higher percentage of the tIRA.
There may be a practical limit to this though, as if you can convert all your tIRA to Roth IRA, then
presumably your future income taxes may drop enough that you should not convert all your tIRA to Roth IRA.
by VanGar+Goyle
Fri Mar 08, 2024 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Genworth Long Term Care
Replies: 61
Views: 7827

Re: Genworth Long Term Care

Sheepdog wrote: Fri Jul 06, 2012 10:34 am DDB, It is written. You don't have to believe it. This policy was written during the 1st month of the partnership. It became available while we were researching LTC policies. The agent, after giving us quotes, mentioned this new progam which he had just received information on.. The cost was much lower, with the price protection included, so she took it.
Take my word or believe differently. I don't care, really.
Jim
Can you confirm that the price of this LTC policy has not gone up in the last 10 years?
by VanGar+Goyle
Fri Mar 08, 2024 12:34 am
Forum: Personal Investments
Topic: Backdoor Roth conversion with an existing Traditional IRA
Replies: 10
Views: 1559

Re: Backdoor Roth conversion with an existing Traditional IRA

I'm looking for the most efficient way to make my retirement contributions. My situation: $500K in a (SEP) traditional IRA (VBTLX) $3M in a taxable brokerage account (VTSAX/VTIAX/VPMAX) with about $100K in annual dividends and gains distributions ... As always, I appreciate any advice. I've tried to include everything relevant, but I'll respond quickly to any requests for further info. I assume that you are married filing jointly, and make over $7500 in wages. Your $100K in annual dividends and Long Term Capital Gains could be taxed at 0%, which is pretty efficient. It is not clear to me that if you can stay in a 0% tax bracket, that a Roth provides much benefit. You could do Roth Conversions, but be wary of jumping from 0% to 25% tax brac...
by VanGar+Goyle
Sat Mar 02, 2024 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion options and strategies...
Replies: 27
Views: 3413

Re: Roth conversion options and strategies...

CyclingDuo wrote: Sat Mar 02, 2024 10:24 am Does it make sense for me to go 100% Roth 401k in 2024 and 2025 (before TCJA reverts in 2026) by using LTCG or qualified dividends from a taxable account at the 0% rate to use as "salary replacement", and have more deducted from my paycheck than already is as a way to convert some of the taxable account into Roth during these two (2024 and 2025) of my final years of working?
Since you are in the 10% or 12% tax bracket, and fear paying a higher rate for IRMAA or after 2026,
then filling up the 10% or 12% tax bracket seems sensible. I would not start filling up the 22% bracket now to avoid a 15% bracket later.
by VanGar+Goyle
Sat Mar 02, 2024 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is it safest to use $0 cost basis for undetermined term transactions for noncovered lots?
Replies: 4
Views: 797

Re: Is it safest to use $0 cost basis for undetermined term transactions for noncovered lots?

In 2021, I bought some GBTC - Grayscale Bitcoin Trust and ETHE Grayscale Ethereum Trust. I'm reading the 1099-B statement. It appears that GBTC sells bitcoin (and ETHE ethereum) every month to pay its bills and passes that onto the shareholder. I'm reading GBTC's tax advice on this https://www.grayscale.com/globalassets/documents/tax-center/grayscale-btc-annual-reporting-12.31.23---final.pdf but find it too cumbersome to read and go through for the amount of proceeds that I have to report (about $200). Would it be safer to just report $0 cost basis for all of these transactions? (24 transactions) in total? (edit: I'm missing all of the cost basis for all of these transactions) It looks like the low for GBTC was around $24 for 2021. That mi...
by VanGar+Goyle
Fri Feb 23, 2024 10:57 am
Forum: Personal Finance (Not Investing)
Topic: With hindsight, what signs indicated you were about to lose your job?
Replies: 176
Views: 26055

Re: With hindsight, what signs indicated you were about to lose your job?

B4Xt3r wrote: Sun Jun 16, 2019 10:35 am
I am curios to hear stories, if you are willing to share them, if any signs that you recognized after the fact that indicated you were about to lose your job (either with or without cause)?
Not that I spent 3 years, over 2 moves and 1 reorg, teaching my job to increasingly distant people,
or certain meetings were never scheduled, but that my card key did not open doors.
Also there was a strange but nice HR person hanging around the whole day.
by VanGar+Goyle
Fri Feb 23, 2024 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Underpayment Penalties IRA to ROTH Conversion
Replies: 49
Views: 4373

Re: Underpayment Penalties IRA to ROTH Conversion

JazzTime wrote: Thu Feb 22, 2024 8:02 pm
patrickscott wrote: Thu Feb 22, 2024 10:37 am
We have filed our 2023 tax return and are getting an IRS refund of $8,000.
. . . .
Instead of getting a refund, you probably should have directed the IRS to apply the refund to 2024 taxes. That would have taken care of your first quarter estimated payment.
Is the refund amount that is applied to Your 2024 Estimated Tax always credited as if it was paid in the first quarter, by April 15?
If you file later, say Oct 15, or the return is processed later, I can imagine that might be a problem, even if the IRS already would have your money.
by VanGar+Goyle
Fri Feb 23, 2024 10:05 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA help
Replies: 12
Views: 1533

Re: IRMAA help

Ninja wrote: Fri Feb 23, 2024 9:30 am We are both on Social Security and have IRMAA
premiums. is it possible to convert my traditional IRA to a Roth IRA so I can lower my IRMAA premiums we are both 70 years old.
Yes, it is possible that Roth IRA Conversions can help reduce Medicare IRMAA premiums for following years,
but Roth IRA Conversions this year will raise your AGI, and may push you into a higher IRMAA bracket in 2 years.
The trick is guessing how much to convert this year so that enough of future AGI and IRMAA premiums are reduced,
when future IRMAA brackets and premiums are a variable and unknown number.
For example, keeping your IRMAA MAGI under an inflation adjusted $206,000 may help.
by VanGar+Goyle
Thu Feb 22, 2024 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Using withholding on Roth conversion instead of estimated tax payment
Replies: 86
Views: 6042

Re: Using withholding on Roth conversion instead of estimated tax payment

See footnote 2 of the IRS rollover chart which seems to say it applies to rollovers from traditional to Roth. When I look at tIRA to Roth I only see footnote 3? Looking again, you're right. I must have looked at the wrong column. Some of the IRS links, like on the rollover table, are broken, but the text in Publication 590-A is Application of one-rollover-per-year limitation. You can make only one rollover from an IRA to another (or the same) IRA in any 1-year period regardless of the number of IRAs you own. The limit will apply by aggregating all of an individual's IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs, effectively treating them as one IRA for purposes of the limit. However, trustee-to-trustee transfers ...
by VanGar+Goyle
Thu Feb 22, 2024 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Using withholding on Roth conversion instead of estimated tax payment
Replies: 86
Views: 6042

Re: Using withholding on Roth conversion instead of estimated tax payment

So what I’m thinking is that I won’t pay any estimated taxes or do any withholding during 2024 as I make smaller Roth conversions, receive dividends and interest, etc. Then I’ll make one large Roth conversion in late 2024, and withhold (say) 90% of that conversion for taxes. For example, maybe I’ll convert $50,000 in December 2024 and have 90% ($45,000) withheld for taxes, which will satisfy my tax obligation for the year. The remaining $5,000 will go into my Roth IRA. Further, I’ll then promptly forward $45,000 from my taxable account to my Roth, so the whole $50,000 withdrawn from my IRA will end up in my Roth IRA. This has been mentioned here before, but not the exact thing that you plan in your example. Kitces writes about an "Era...
by VanGar+Goyle
Thu Feb 22, 2024 12:46 pm
Forum: Personal Consumer Issues
Topic: Anyone use Shoe Goo to increase the life of their shoes
Replies: 38
Views: 3892

Re: Anyone use Shoe Goo to increase the life of their shoes

BeachPerson wrote: Thu Feb 22, 2024 12:26 pm Shoe Goo was popular in the late 70s and early 80s. Anyone use it?
I tried it once back then, not quite satisfied.
It may have been heavily advertised in either Runners World, or Edmunds Scientific ;)
by VanGar+Goyle
Wed Feb 21, 2024 12:13 pm
Forum: Personal Consumer Issues
Topic: Yellowstone trip - Advice
Replies: 37
Views: 3823

Re: YellowStone trip - Advice

soretired wrote: Sun Feb 18, 2024 10:50 pm
vsk wrote: Sun Feb 18, 2024 10:02 pm Hey Bogleheads,
What is the best time to visit (best time meaning least crowd?) ?
I believe one could stay INSIDE yellow stone - Any suggestions?
Staying inside the park means less travel time. No suggestions for lodging. Booking inside the park usually requires doing so a year in advance.
.. Bring bear spray and mosquito spray.
The least crowded time would be winter outside the holidays.
Of the 9 lodges, only newer Old Faithful Snow Lodge is open during winter.
They still have openings for the next 10 days, and scattered openings until Dec 16
when the roads may close and lodge is more available.
You may not need bug spray. You may need an oversnow vehicle.
by VanGar+Goyle
Wed Feb 21, 2024 11:38 am
Forum: Personal Consumer Issues
Topic: The Shrinking Lifespan of Large Appliances
Replies: 108
Views: 10470

Re: The Shrinking Lifespan of Large Appliances

I would add that toaster ovens and toasters are surprisingly dangerous. We have had two toaster ovens and one toaster fail to shut off. For some unknown reason, my family always kept a stack of loose papers right next to the toaster, under the wall phone. Would have been simpler to just put the papers in a kitchen drawer, but most of the kids and adults learned to pull the plug when done with toasting ( though pulling the plug thousands of times was not great ). We always left it on the lowest setting, to try to minimize the fire danger. Microwave ovens and TVs were upgraded, but not the 50 year old toaster, even though half the slots did not work. Something about my parents being raised in the depression, when all they could afford was br...
by VanGar+Goyle
Fri Feb 16, 2024 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge - 1099 Timing
Replies: 11
Views: 925

Re: Merrill Edge - 1099 Timing

FootballFan5548 wrote: Thu Feb 15, 2024 11:06 am I'm eager to get a jump on my tax return since my 2023 was very unique. The last thing I'm waiting on is my Merrill Edge Brokerage 1099.

I received this on Feb. 10 last year. I have not received yet for this year.
You may want to check that your Edge account is set up to send you physical 1099 tax forms.
By default, they used to only make them available online, but they might have changed policies.
by VanGar+Goyle
Fri Feb 16, 2024 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard tax forms confusion
Replies: 17
Views: 2276

Re: Vanguard tax forms confusion

fsrph wrote: Tue Feb 06, 2024 10:15 am I converted to brokerage account in June, 2023. I received two different tax forms from Vanguard. One a brokerage consolidated statement and a 1099-DIV. No instructions on how to handle this.
Please check if one 1099-DIV covers the old account up to July, 2023, and
the other consolidated Form 1099-DIV covers the new account from July to December, 2023.
The new consolidated Form 1099-DIV may even give you details of the dates that dividends were received.
If so, you would have at least two entries for Vanguard 1099-DIV.
by VanGar+Goyle
Fri Feb 16, 2024 7:33 am
Forum: Personal Investments
Topic: The Surprising Return of Interest
Replies: 68
Views: 8960

Re: The Surprising Return of Interest

Leesbro63 wrote: Thu Feb 15, 2024 5:13 pm Has anyone else been somewhat surprised at the surprising return of interest? In preparing my 2023 tax return, I noticed a somewhat startling surprise at how much more interest there is versus 2022 and certainly versus 2021.
I was surprised a few years back, when several companies did not send me 1099-INT or 1099-DIV
as there was not $10 of interest or dividends. 2023 paid more in interest than usual,
so it was a nudge to move some money around to fill up some brackets more tax efficiently.
by VanGar+Goyle
Fri Feb 09, 2024 9:56 am
Forum: Investing - Theory, News & General
Topic: Collecting Social Security at 62 Leaves Me (and My Heirs) Better Off, Every Time
Replies: 143
Views: 15061

Re: Collecting Social Security at 62 Leaves Me (and My Heirs) Better Off, Every Time

Charles Joseph wrote: Sun Feb 04, 2024 3:20 pm Collecting Social Security at 62 leaves me (as well as my heirs) richer, each time I calculate the possibilities.

Every time I run a Monte Carlo simulation, I end up with significantly more money as an ending balance after 25 or 30 years by collecting Social Security at 62 than if I wait until 70.
Are you assuming that you save and invest all your social security benefits for the first 25 or 30 years?
Most people do not seem to do that, but if they can net 10% a year after taxes, taking Social Security early may work out better.
by VanGar+Goyle
Wed Jan 17, 2024 3:34 am
Forum: Investing - Theory, News & General
Topic: Vanguard: "Important: We've been unable to reach you by email"
Replies: 129
Views: 15257

Re: Vanguard: "Important: We've been unable to reach you by email"

Angst wrote: Wed Mar 15, 2017 2:26 pm Yesterday I received a first-class letter from Vanguard stating in bold face: Important: We've been unable to reach you by email, followed by:
Vanguard wrote:Because you signed up for electronic delivery of account documents, we attempted to notify you by email at [my email address] that a confirmation is available for you on our secure website. However, we were unable to contact you at your email address.
Aside from spam folders and email failures/bouncebacks, it is possible that Vanguard IT knows that you did not open, read, or click on the email.
But that level of thoroughness is more common with spammers and bulk-mailers.
by VanGar+Goyle
Wed Jan 17, 2024 3:07 am
Forum: Investing - Theory, News & General
Topic: What does everybody notice about this chart?
Replies: 50
Views: 3196

Re: What does everybody notice about this chart?

retireIn2020 wrote: Wed Jan 17, 2024 2:52 am
VanGar+Goyle wrote: Wed Jan 17, 2024 2:39 am
retireIn2020 wrote: Wed Jan 17, 2024 12:19 am Initial 401k value of $10k, yearly contribution of $5k.

After 30 years of contributions to the 60/40 portfolio, the individual has about $1M.

But there's something more important, can you see it in the chart?

Image

Think of this like a Jeopardy question (kind of) :D
The Red on Right, Blue on Left labels are misleading, not match the image,
and the font is too small. and then market correlation is 99%
Sorry, wrong answer.
What is "no"?
by VanGar+Goyle
Wed Jan 17, 2024 3:01 am
Forum: Investing - Theory, News & General
Topic: How big a portfolio is okay for 100% stock?
Replies: 115
Views: 21799

Re: How big a portfolio is okay for 100% stock?

Taylor Larimore wrote: Wed Jan 10, 2024 7:12 pm “My grandfather was nearly 100% invested in stocks purchased on margin. He lost nearly everything and went bankrupt.

This is why I will never be 100% in stocks.

Taylor
I will never be 200% in stocks on margin!
100% maybe, if there is enough guaranteed money, but that is not likely.
by VanGar+Goyle
Wed Jan 17, 2024 2:49 am
Forum: Personal Finance (Not Investing)
Topic: SS / Roth Conv. / ACA/IRMAA / RMD Help Please
Replies: 57
Views: 5877

Re: SS / Roth Conv. / ACA/IRMAA / RMD Help Please

nassau34 wrote: Mon Jan 15, 2024 9:49 pm What is the best way to make decisions around the interaction between when to take Social Security, Roth Conversions, managing MAGI relative to ACA/IRMAA, and eventually RMDs? The interplay between all these decisions makes my head hurt.

I'm 63 and recently retired, on ACA plan, and haven't started SS.
The best way may be to pay someone thousands of dollars to figure it out for you.
There may be less expensive options. Also you get to do this every year until you run out of money. :sharebeer
by VanGar+Goyle
Wed Jan 17, 2024 2:39 am
Forum: Investing - Theory, News & General
Topic: What does everybody notice about this chart?
Replies: 50
Views: 3196

Re: What does everybody notice about this chart?

retireIn2020 wrote: Wed Jan 17, 2024 12:19 am
But there's something more important, can you see it in the chart?

Image
The Red on Right, Blue on Left labels are misleading, not match the image,
and the font is too small. and then market correlation is 99%
by VanGar+Goyle
Mon Jan 15, 2024 12:31 am
Forum: Personal Investments
Topic: tax efficient placement for short term cash/MMF
Replies: 15
Views: 1978

Re: tax efficient placement for short term cash/MMF

retiredjg wrote: Sun Jan 14, 2024 12:52 pm
tonyclifton wrote: Sun Jan 14, 2024 12:42 pm I would not invest money into VTI that I needed in three years.
But that is not what is actually happening here. The money for the house is still in money market, just inside the 401k.

When the time comes for the house, sell $300k in taxable to use for the house and then move $300k in money market in the 401k into stock funds.

So what you have really taken out of the 401k is money market, not VTI.

You may have to turn your brain inside out to see this at first (I did), but it works.
I agree. You maintain your asset allocation, your asset location may be improved,
but you may have some ( long term ) capital gains tax implications.
Plus any ordinary interest in the 401(k) account would still be taxed at ordinary rates.
by VanGar+Goyle
Sun Jan 14, 2024 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: RMD Tax Withholding
Replies: 50
Views: 5144

Re: RMD Tax Withholding

Jack_R2 wrote: Sun Jan 14, 2024 9:10 am Yes, I use the withholding from my RMD's only to cover my year's estimated taxes. Been doing it for many years and it works well for me. I usually take 3 - 4 RMD withdrawals per year and that allows me to adjust withholding amount if my estimated taxable income increases or decreases. But my initial income tax estimates are normally very accurate.
It took me a few years to figure it out, but RMDs are 100% withheld for Federal income taxes.
The RMDs are known by this time of year, and estimated taxes for safe harbors will be known soon.
Distributions are delayed as long as convenient.
Still doing quarterly estimated taxes, but withholding and replacing from Roth conversions would earn another 2%.
by VanGar+Goyle
Sun Jan 14, 2024 11:35 pm
Forum: Personal Consumer Issues
Topic: what to put in a time capsule that will be valuable in 50 or 100 years?
Replies: 65
Views: 6401

Re: what to put in a time capsule that will be valuable in 50 or 100 years?

BitCoin.
Not the cryptocurrency, but an actual physical gold commemorative coin,
to go with a beanie baby and a cabbage patch girl. :wink:
by VanGar+Goyle
Sun Jan 14, 2024 11:21 pm
Forum: Personal Investments
Topic: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio
Replies: 91
Views: 11643

Re: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio

When did her husband pass? Assuming the stock was in his name and transitioned to her at that point, that date is your cost basis. If that date is in the last 20 years, you probably don't have ANY capital gains taxes to worry about. ATT stock has not done well. At all. There's a good chance you have a loss to work with to offset any other gains she might have. T stock price peaked over 23 years ago, so there is a good chance that there are capital losses. The usual advice of capturing stock losses at $3,000 a year may apply, but may take several lifetimes to reap. Depending on her other income, she may be in the 0% LTCG tax bracket, so gains may be tax free. Larger issues include how she feels about the inherited 'widows and orphans' stock...
by VanGar+Goyle
Sun Jan 14, 2024 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: California 2023 state income tax rates
Replies: 7
Views: 1500

Re: California 2023 state income tax rates

Hyperchicken wrote: Fri Dec 01, 2023 12:34 pm https://www.ftb.ca.gov/about-ftb/newsro ... l#article7

It is extremely well hidden on FTB site.
I will have to brush up on my CA FTB tax news releases.
The usual FTB forms for last year seem to be available now, including 2023 California Tax Rate Schedules.
I totally missed the Oct 16 extension of filing to Nov 16. Could have saved another 0.4% :wink:

With the relief, those who would have had an October 16, 2023, postponed tax filing deadline now have until November 16, 2023, to file and pay.
by VanGar+Goyle
Fri Jan 12, 2024 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Future taxes on unrealized gains as a liability when calculating net worth?
Replies: 36
Views: 3384

Re: Future taxes on unrealized gains as a liability when calculating net worth?

jory1804 wrote: Thu Dec 21, 2023 7:38 pm [Topic is now in Personal Finance (Not Investing) - mod mkc]

When calculating my net worth, I've always counted future taxes on unrealized gains as a liability.
...
I'm curious how others handle this situation? In my case, the future taxes on unrealized gains represent 5% of my investable assets. This is not an insignificant amount and seems worth getting right for safe withdrawal calculations.
You may choose to not tell your heirs that you are worth 5% more dead than alive :)
Focus on your spendable money if you focused on your net income.
by VanGar+Goyle
Fri Jan 12, 2024 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Mass Mutual LTC Policy: Premium Increases + Exit from Indiv Market
Replies: 46
Views: 4041

Re: Mass Mutual LTC Policy: Premium Increases + Exit from Indiv Market

The premium increase in my state was 33% (after several years of no premium increases). I already considered this coverage fully priced, because it was purchased in 2019 after many of the industry-wide rate increases had been implemented. I was told Mass Mutual will no longer be selling the individual, traditional LTC policies, so my LTC agent no longer has a relationship with them. 1. How will Mass Mutual's decision to exit selling these policies impact on my potential experience for (i) future rate increases, and (ii) claims processing? If healthy people decide not to renew & they're not selling any new policies, does that mean my premiums will rise faster in the future (despite my good health)? I suggest checking with your state Ins...
by VanGar+Goyle
Fri Jan 12, 2024 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax 2023
Replies: 435
Views: 156913

Re: Fidelity free Turbotax 2023

Since you cannot file Federal Income Taxes until Jan 29, 2024, and
Turbotax is still missing some forms and schedules, and
has some other bugs like penalties for belated Federal Disaster Area estimated taxes,
I think that the Fidelity Free Turbotax issue will be resolved in time.
by VanGar+Goyle
Mon Dec 25, 2023 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Projecting income/dividends for 2023 in Vanguard?
Replies: 6
Views: 1630

Re: Projecting income/dividends for 2023 in Vanguard?

Ken. wrote: Sat May 06, 2023 4:43 am Vanguard provides the estimated income and estimated yield info on their monthly statements for each investment that you own. It took me a while to find it and it was only after I remembered a post about this last year. Vanguard Search didn't have any info about this.
How accurate are those monthly estimated income projections?
Now that we have many of our 2023 distributions, that may be knowable.
Still unknown are some monthly payments like money markets, but the accrued interest may be visible online.
by VanGar+Goyle
Mon Dec 25, 2023 11:47 am
Forum: Personal Consumer Issues
Topic: Hut to Hut Backpacking/Hiking - Italy Alps Dolomites
Replies: 16
Views: 2457

Re: Hut to Hut Backpacking/Hiking - Italy Alps Dolomites

KBR wrote: Sun Dec 24, 2023 9:27 am Thank you! Ideally I’m looking to hire a company and guide to take care of everything and just put a backpack on and go… any suggestions?
I have not hiked the Dolomites, but in other countries, the guided/catered hut to hut hike includes all meals and hot showers,
so only a daypack is required. You may lose some freedom, flexibility, and comradery but have more comfort and ease.
by VanGar+Goyle
Mon Dec 11, 2023 8:21 am
Forum: Non-US Chapters
Topic: Valuethinker has 48,000 posts
Replies: 80
Views: 22660

Re: Valuethinker has 48,000 posts 47,568 matches

nedsaid wrote: Sun Nov 26, 2023 1:59 pm It came to my attention today that Valuethinker has 48,000 posts at Bogleheads which is quite a remarkable achievement.
Although he may have over 48,130 posts, I only can find 47,568 matches.
Are there 560 secret valuethinker posts, or have the moderators been busy??
by VanGar+Goyle
Tue Dec 05, 2023 11:07 am
Forum: Personal Consumer Issues
Topic: Cost Basis didn't transfer -- worth fighting?
Replies: 5
Views: 980

Re: Cost Basis didn't transfer -- worth fighting?

jdadj wrote: Tue Dec 05, 2023 11:00 am I recently transferred about 10 positions from Morgan Stanley to Fidelity. For 8 of the positions, the cost basis transferred over. For the remaining 2, the cost basis did not transfer over.
...
I've spoken to Fidelity. They blamed Morgan Stanley. I spoke to Morgan Stanley. They blamed Fidelity. I'm sure I can get this all straightened out. But it's just a question of whether it's worth the hassle or not.
How long ago did you transfer the 10 positions? It can take a few days for supplemental Cost Basis information to transfer.
How much will the Cost Basis save you, and what is your time worth?
by VanGar+Goyle
Tue Dec 05, 2023 10:15 am
Forum: Personal Investments
Topic: Unsafe Withdrawal Rate
Replies: 37
Views: 5244

Re: Unsafe Withdrawal Rate ( Roth Conversion )

There's a lot of discussion about SWRs but what would a solid "unsafe withdrawal conversation rate" be for the following situation: - 40 year old couple with $1M in tax-deferred (50% stock / 50% bond) - they want to do Roth conversions for the next 3 decades before RMDs kick in - their goal is to have (roughly) $1M in tax deferred retirement accounts at age 70 (the rest being converted to Roth) - they want to evenly spread out the conversions for tax purposes. They don't want to convert $100k one year and $0 the next An interesting theoretical question , even if the Title is misleading ( I would prefer Safe Roth Conversion Rate ), and the goal ignores wages, inflation, taxes, and spending. Since a balanced account could go up 20%...
by VanGar+Goyle
Thu Nov 23, 2023 12:43 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Exit Strategy (for tax-deferred retirement accounts)
Replies: 163
Views: 22516

Re: What's Your Exit Strategy (for tax-deferred retirement accounts)

celia wrote: Wed Nov 22, 2023 4:36 pm
cheese_breath wrote: Wed Nov 22, 2023 12:27 pm So the bottom line is whatever is left in that IRA will be given in equal shares to the five children. If they each convert their shares into inherited IRAs and take RMDs over ten years, the tax hit shouldn’t be so bad. If any want to take lump sums instead, that’s their decision.
Inherited IRAs can't be converted. The beneficiary must withdraw each year or give the withdrawals to charity if over 70.5.
Most Inherited IRAs can't be converted into Roth IRAs. There are postponed proposals that some beneficiaries should take a distribution each year.
by VanGar+Goyle
Mon Nov 13, 2023 2:22 am
Forum: Personal Investments
Topic: Tax Efficient Strategy using Tax-deferred, Roth, and Taxable accounts
Replies: 106
Views: 12989

Re: Tax Efficient Strategy using Tax-deferred, Roth, and Taxable accounts

I'm not arguing that it's good to have as large a balance as possible after taxes. My strategy prefers more stocks in a tax deferred account and less stocks in a taxable account because I prefer "the tax deferred account to grow faster than a taxable account" I may have misquoted your reply, but your strategy seems to prefer that the higher gains from stocks be taxed at ordinary income tax rates, not the usually lower Long Term Capital Gains rates. In other spots, you seem to write about paying no income taxes on some LTCG gains, which makes more sense to me. My words can be confusing if you don't understand the context. Of course I like LTCG gains and tax efficient harvesting of capital gains on after tax gains in a taxable acco...
by VanGar+Goyle
Sat Sep 23, 2023 8:04 am
Forum: Investing - Theory, News & General
Topic: Aren't you an above-average investor?
Replies: 169
Views: 17755

Re: Aren't you an above-average investor?

simpleisbest wrote: Thu Sep 21, 2023 9:29 am The theory of passive indexing and Bogleism is that you can't beat the market because you're average, so why bother trying? Just give up and accept average.

But aren't you above average? After years, decades of study and research, don't you finally qualify as above average? Can't you beat the market?

And if you don't try, how can you ever learn?
The average investor does worse than the market average - ( buy high, sell low, chase market fads ... )
By being a boglehead, we think that we are better than average investors, maybe even approaching market average.
We certainly can beat the market, but probably will not beat the market in the long run.
by VanGar+Goyle
Sat Sep 23, 2023 7:55 am
Forum: Personal Investments
Topic: Transitioning from Debt to Retirement
Replies: 12
Views: 1972

Re: Transitioning from Debt to Retirement (through saving 75%)

I'm 44, she's 34. House is getting paid off by end of year. Worth 1.3 million. No debt. 1/4 million in savings, mostly bonds to ensure that what non-real estate we have is not volatile. Two children, 5 years of age. We have an ADU that produces $2,000 a month. This = $1,000/month per child in perpetuity. Covers my 529 needs. Wife and I make about $375,000 anually. We likely spend less than a quarter of it. About to put our income into retirement accounts with the goal of hitting some general threshold and cutting work by 75%. 1) How much should go to Roth and how much to a traditional IRA? We live in an income tax-free state, FWIW. 2) If we want to semi-retire in 10 years, what composition should those accounts have? The standard Bogle rat...
by VanGar+Goyle
Sat Sep 23, 2023 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity log-in page different
Replies: 25
Views: 3254

Re: Fidelity log-in page different

511east wrote: Fri Sep 22, 2023 6:25 pm Maybe it is ok, but just suspicious, my Fidelity log-in page is different, the user and password are right in the middle of the page, it used to be to the left, and the log-in page does not pre-fill the three user names we use and that are always showing up as choices.
Keep on checking the security of the page: that the URL is from fidelity.com, and the HTTPS Certificate is valid.
The Vanguard pages still scare me a bit as they are not from the two standard Certificate Authorities, but are from
Organization (O) <Not Part Of Certificate>
Organizational Unit (OU) <Not Part Of Certificate>
Common Name (CN) R3
Organization (O) Let's Encrypt
Organizational Unit (OU) <Not Part Of Certificate>
by VanGar+Goyle
Sat Sep 23, 2023 7:24 am
Forum: Personal Investments
Topic: Tax Efficient Strategy using Tax-deferred, Roth, and Taxable accounts
Replies: 106
Views: 12989

Re: Tax Efficient Strategy using Tax-deferred, Roth, and Taxable accounts

smartinvestor2020 wrote: Fri Sep 22, 2023 8:31 pm I'm not arguing that it's good to have as large a balance as possible after taxes.

My strategy prefers more stocks in a tax deferred account and less stocks in a taxable account because I prefer "the tax deferred account to grow faster than a taxable account"
I may have misquoted your reply, but your strategy seems to prefer that the higher gains from stocks be taxed at ordinary income tax rates,
not the usually lower Long Term Capital Gains rates. In other spots, you seem to write about paying no income taxes on some LTCG gains,
which makes more sense to me.