Search found 2082 matches

by Carl53
Sun Apr 18, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Federal E-File rejected due to Duplicate 1099-R
Replies: 44
Views: 3457

Re: Federal E-File rejected due to Duplicate 1099-R

To those of you that added .01 or did similar modification to your reported 1099R income, did you check the box that it is a reissued or modified 1099R? My return has not yet been rejected, or accepted, but based on this thread I expect it to be rejected as I had two identical 1099Rs. Same everythi...
by Carl53
Sun Apr 18, 2021 4:27 am
Forum: Personal Finance (Not Investing)
Topic: Federal E-File rejected due to Duplicate 1099-R
Replies: 44
Views: 3457

Re: Federal E-File rejected due to Duplicate 1099-R

To those of you that added .01 or did similar modification to your reported 1099R income, did you check the box that it is a reissued or modified 1099R? My return has not yet been rejected, or accepted, but based on this thread I expect it to be rejected as I had two identical 1099Rs. Same everythin...
by Carl53
Sun Apr 11, 2021 5:50 am
Forum: Personal Finance (Not Investing)
Topic: [Spouse recently passed away. Please help me handle his financial matters]
Replies: 112
Views: 7463

Re: Spouse died in January: What taxes do I need to be aware of?

A link to the wiki page to look up general topics and financial terms is at the top of the bogleheads webpage, just below the title block.

https://www.bogleheads.org/wiki/Main_Page

Example for Roth Conversion

https://www.bogleheads.org/wiki/Roth_IRA_conversion
by Carl53
Sun Apr 11, 2021 5:36 am
Forum: Personal Consumer Issues
Topic: Comfortable Men's Flip Flops?
Replies: 59
Views: 4380

Re: Comfortable Men's Flip Flops?

https://www.oofos.com/products/mens-san ... lide-black

Very comfortable, however, if you wear every day you might be replacing them at least every other year.
by Carl53
Mon Apr 05, 2021 3:04 am
Forum: Personal Finance (Not Investing)
Topic: Using term life to hedge a spouse's pension?
Replies: 10
Views: 886

Re: Using term life to hedge a spouse's pension?

Been retired for a decade plus. At that time I only had a 0% or 50% survivor pension option for my several years younger spouse. Since I was also going with a levelized plan until age 62, the 50% survivor plan was actually about 2/3 of the post age 62 benefits (and less than 40% of pre age 62 ) for ...
by Carl53
Mon Mar 29, 2021 4:11 am
Forum: Personal Finance (Not Investing)
Topic: Advice for a HR Block newbie
Replies: 8
Views: 801

Re: Advice for a HR Block newbie

Another software update but the inherited IRA is still handled incorrectly. Deleted it, several times, twice redownloading the 1099R and once manually entering the data. The time I manually downloaded the data temporarily it had the correct amount on the 1040, or at least the taxes shown in the stat...
by Carl53
Sat Mar 27, 2021 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Social security question
Replies: 10
Views: 1410

Re: Social security question

Since you were not born after 1953, you can file right now for spousal benefits based upon your wife’s SS while still deferring yours until age 70. You should file immediately and go back as far as you can (I believe you can go back 6 months to the effective date of your wife’s filing, whichever is...
by Carl53
Wed Mar 24, 2021 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Social Security - when to plan on filing
Replies: 4
Views: 641

Re: Social Security - when to plan on filing

Be sure to study the alternative claiming strategy graph at the bottom of the opensocialsecurity solution. You will likely find that as long as your spouse delays until age 70 it will make very little difference to your overall benefit whatever date you claim over the next two plus years. Edit: Your...
by Carl53
Tue Mar 23, 2021 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Advice for a HR Block newbie
Replies: 8
Views: 801

Re: Advice for a HR Block newbie

Update: A couple more software updates, but still get two data verification notices. One is the 1099R for the amount of this inherited IRA. I can manually change the amount that is taxable to any amount I want but it does not show up on the 1040 except in total distributions but not in taxable. It d...
by Carl53
Sun Mar 21, 2021 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Are dependents of public employees eligible for SS
Replies: 4
Views: 598

Are dependents of public employees eligible for SS

Just curious about situation for DS who is a public employee that does not have the option to participate in SS. Should DS become disabled or die, are his dependents, children and spouse eligible for SS benefits or not? He probably has a five years of SS credits with 10+ years now with this public e...
by Carl53
Sat Mar 20, 2021 8:49 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 456
Views: 55412

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I used the calculator this morning to look at a situation in another thread regarding a survivor. I had to use the deceased date of death as December 2020 as it seems to need updating to allow dates of death in 2021.
by Carl53
Sat Mar 20, 2021 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Survivor Benefits
Replies: 15
Views: 1109

Re: Social Security Survivor Benefits

Thank you. Yes, her plan is to take hers at 70. She'll retire from teaching this year and begin her pension on July 1, 2021. So the 2nd husband passed at age 54 - prior to taking any benefit - and she is eligible for a survivor benefit on his record when she reaches age 62 this July? Wow. I didn't ...
by Carl53
Sat Mar 20, 2021 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Survivor Benefits
Replies: 15
Views: 1109

Re: Social Security Survivor Benefits

I plugged in your info into https://opensocialsecurity.com/ and it does as apineapple suggested, take the survivor benefit now and delay yours until 70. Note I had to use 12/20 as date of death as it does not appear have been updated for deaths in 2021.
by Carl53
Mon Mar 15, 2021 6:03 pm
Forum: Personal Consumer Issues
Topic: Water Softener Cost
Replies: 24
Views: 1697

Re: Water Softener Cost

I've had old style salt tank systems in the past that went through a bag of salt every other week. Perhaps twenty or so years ago I bought a Kinetico system. I worked well for fifteen years with very little additional cost. Easy on me as far as maintenance, but the average cost was still steep. Mayb...
by Carl53
Mon Mar 15, 2021 5:48 pm
Forum: Personal Investments
Topic: 15x expenses, then SS
Replies: 95
Views: 7844

Re: 15x expenses, then SS

3. Opensocialsecurity.com recommends she take SS at 62 ($8000), I defer to 70 ($50,000), then she gets spousal benefit($15,000) Edit: spouse $19k at 65 for 6 years, then I start at 70 with $41k plus her $19k for a total of $60k, until one of us dies. Be sure to double check that your Social Securit...
by Carl53
Mon Mar 15, 2021 11:52 am
Forum: Personal Investments
Topic: 15x expenses, then SS
Replies: 95
Views: 7844

Re: 15x expenses, then SS

3. Opensocialsecurity.com recommends she take SS at 62 ($8000), I defer to 70 ($50,000), then she gets spousal benefit($15,000) Edit: spouse $19k at 65 for 6 years, then I start at 70 with $41k plus her $19k for a total of $60k, until one of us dies. Be sure to double check that your Social Securit...
by Carl53
Thu Mar 11, 2021 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Updating W4 -- Child Tax Credit Increase
Replies: 38
Views: 2756

Re: Updating W4 -- Child Tax Credit Increase

Friend of the family just had twins in late February. Will they be eligible for the increased tax credit?
by Carl53
Mon Mar 08, 2021 11:49 pm
Forum: Personal Consumer Issues
Topic: Home radon detectors - which is best
Replies: 21
Views: 1891

Re: Home radon detectors - which is best

We have had one for about two years after borrowing a friends unit and having one of those send off tests indicate moderate levels of 4-11 (as far as I was concerned). We did install a mitigation system. Daily values jump around like 1 to 1.9 or sometimes stay relatively constant for days, I wonder ...
by Carl53
Mon Mar 08, 2021 3:33 pm
Forum: Personal Consumer Issues
Topic: 10 day road trip vacation around Lake Michigan
Replies: 31
Views: 2465

Re: 10 day road trip vacation around Lake Michigan

Taquahmenon Falls. Might be mispelled.
by Carl53
Mon Mar 08, 2021 3:30 pm
Forum: Personal Consumer Issues
Topic: Let's play chess
Replies: 151
Views: 12008

Re: Let's play chess

Pre-covid I'd sometimes play with youth at local institution but lately I occasionally play the 'Really Bad Chess' app.
by Carl53
Sun Mar 07, 2021 6:55 pm
Forum: Personal Consumer Issues
Topic: Helping my elderly mother
Replies: 25
Views: 1887

Re: Helping my elderly mother

Might consider a CCRC. https://www.seniorhousingnet.com/seniorliving-search/fort-myers_fl/continuing-care_type We looked into a nice one in the rural midwest a few years ago for the inlaws. It was but $80k upfront and $2700 per month for two people in a 2 bedroom 2 bath set up with wonderful meals a...
by Carl53
Sat Mar 06, 2021 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Advice for a HR Block newbie
Replies: 8
Views: 801

Advice for a HR Block newbie

Took tips on this board to transition to cheaper HR Block Tax software this year from Turbotax. Using the Deluxe with state version that downloads software to my computer. I had entered most of the data prior to now but Form 8915E just became available. So I went ahead down through Finish for the fe...
by Carl53
Fri Mar 05, 2021 6:34 am
Forum: Personal Consumer Issues
Topic: How long should I wait to dispose of incorrect shipment?
Replies: 6
Views: 981

How long should I wait to dispose of incorrect shipment?

Doing some remodeling on a recently purchased home. Ordered two identical items from the only online supplier I could find at a cost north of $300 each. Shipping was a little more than the cost of one of the items and I purchased damage insurance as I viewed the items as easily damaged. Order arrive...
by Carl53
Thu Mar 04, 2021 6:46 pm
Forum: Personal Investments
Topic: Seeking Advice on Planned 2022 Retirement
Replies: 8
Views: 955

Re: Seeking Advice on Planned 2022 Retirement

I suggest you work in 2022 to earn at least $26k, net of taxes. With $95k salary, I think that would take you until end of March, perhaps early April for some buffer. Put all that money into Roth 401k. With a $26k contribution to Roth 401k, your W-2 income will not decrease, so you will be able to ...
by Carl53
Thu Mar 04, 2021 6:06 pm
Forum: Personal Investments
Topic: Seeking Advice on Planned 2022 Retirement
Replies: 8
Views: 955

Re: Seeking Advice on Planned 2022 Retirement

Unless you substantially bump up your lifestyle I seriously doubt that you will make a major drawdown on your post tax funds before age 70. That said I think the question becomes what do you want to have done with your potential legacy. Heirs certainly would prefer Roth's and charities don't care bu...
by Carl53
Thu Mar 04, 2021 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Estimate Including COLA
Replies: 5
Views: 577

Re: Social Security Estimate Including COLA

I live overseas and don't regularly receive my SS estimate statement and cannot sign up for MySSA unless I use a friend's mailing address which has dubious legality. The 2015 statement is the last one I have and I have not earned any income since 2008. That statement estimated what my my benefit wo...
by Carl53
Thu Mar 04, 2021 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Retroactive Strategy
Replies: 10
Views: 1131

Re: Social Security Retroactive Strategy

I am 67, single, and in good health. I had originally planned to delay collecting SS until age 70 but am now thinking I should not only begin sooner but perhaps claim retroactively. My understanding is that if my other income plus half my SS benefits are less than 25K then my SS is not taxed. I wou...
by Carl53
Sun Feb 28, 2021 4:27 pm
Forum: Personal Investments
Topic: Change of plans for Social Security
Replies: 19
Views: 3072

Re: Change of plans for Social Security

You might want to go big on Roth conversions this year and next. Higher IRMAA brackets at age 65 are based on income the year you are 63. Not sure but if your two year look back income drops due to no longer being employed ( not your anticipated case since your pension income would not be reduced) o...
by Carl53
Fri Feb 26, 2021 5:38 am
Forum: Personal Consumer Issues
Topic: At what point will Amazon ban someone?
Replies: 37
Views: 4823

Re: At what point will Amazon ban someone?

We buy some from Amazon and occasionally return. DS and DDIL probably buy 150 items a year and return perhaps 10%. DW recently purchased a two towel rings (actually rectangles) from wayfair, one in black the other in nickel. The nickel one was fine but the black one came as a round unit with the pro...
by Carl53
Thu Feb 25, 2021 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Mother's retirement
Replies: 19
Views: 1547

Re: Mother's retirement

I am 26 years old and have recently gotten very interested in Personal Finance and once I got my financials set up on autopilot, I shifted to trying to help my single mother and two siblings (one who is 28 and one who is 38) get themselves set up for retirement. My mom raised the three of us on her...
by Carl53
Wed Feb 24, 2021 7:33 am
Forum: Personal Finance (Not Investing)
Topic: How to account for tax refund & bunching charitable giving
Replies: 6
Views: 354

Re: How to account for tax refund & bunching charitable giving

I'm on a pension and sent in a withholding change for however much I wanted whenever I decided I was going to bunch. In 2019 I did not decide to do so until late in the year. I was able to cut withholding dramatically for the last couple months and then changed it back early the next year. Edit: I d...
by Carl53
Wed Feb 24, 2021 3:32 am
Forum: Investing - Theory, News & General
Topic: Delaying Social Security
Replies: 88
Views: 6453

Re: Delaying Social Security

I'm probably not delaying all the way to 70 anyway, tentative plan is to take [Social Security] before it's enough to push us into the next tax bracket. Before starting earlier than 70, I suggest looking carefully at the marginal tax on the increase in SS resulting from delaying. It may be smaller ...
by Carl53
Tue Feb 23, 2021 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: File for spousal SS benefit? - help
Replies: 3
Views: 512

Re: File for spousal SS benefit? - help

Open SS is telling you that you can file for benefits up to 6 months retroactively, that's why August 2020 is the specified date. You certainly can and ought to file a restricted application for spousal benefits. I did and am receiving them. Could have done so in August 2019. but as of this date you...
by Carl53
Sun Feb 21, 2021 2:34 pm
Forum: Personal Investments
Topic: Roth Conversions, process and taxes
Replies: 13
Views: 1362

Re: Roth Conversions, process and taxes

If you want to transfer in dollars, convert to settlement account first in the IRA, then transfer, since shares of the settlement fund are dollars. Curious on this as I have a brokerage account and always a PITA with trying to transfer in dollars rather than shares. I usually have to guestimate sha...
by Carl53
Sun Feb 21, 2021 2:08 pm
Forum: Investing - Theory, News & General
Topic: Social Security Question : Formula for Spousal Benefits
Replies: 13
Views: 1077

Re: Social Security Question : Formula for Spousal Benefits

From the link I posted above: Early retirement reduces benefits A spouse can choose to retire as early as age 62, but doing so may result in a benefit as little as 32.5 percent of the worker's primary insurance amount. A spousal benefit is reduced 25/36 of one percent for each month before normal re...
by Carl53
Sun Feb 21, 2021 2:02 pm
Forum: Personal Investments
Topic: Roth Conversions, process and taxes
Replies: 13
Views: 1362

Re: Roth Conversions, process and taxes

Consider checking out the Retiree Portfolio Model. https://www.bogleheads.org/wiki/Retiree_Portfolio_Model Go to the SS website and determine what your wife's estimated PIA is. Beware that that website will presume that she keeps working and inflation happens. Suggest you download their AnyPIA calcu...
by Carl53
Sun Feb 21, 2021 12:09 pm
Forum: Investing - Theory, News & General
Topic: Social Security Question : Formula for Spousal Benefits
Replies: 13
Views: 1077

Re: Social Security Question : Formula for Spousal Benefits

+1 on Watty's comments

See this page https://www.ssa.gov/OACT/quickcalc/spouse.html for an explanation and calculation.
by Carl53
Sun Feb 21, 2021 7:54 am
Forum: Investing - Theory, News & General
Topic: Delaying Social Security
Replies: 88
Views: 6453

Re: Delaying Social Security

OP, others have suggested using opensocialsecurity.com and I highly recommend it. Consider using RPM, https://www.bogleheads.org/wiki/Retiree_Portfolio_Model , and there is an ongoing thread by bigfoot that talks about its use and updates. I note that you correctly show the increase of 30.7% for tak...
by Carl53
Sat Feb 20, 2021 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Should I come out of retirement?
Replies: 66
Views: 7273

Re: Should I come out of retirement?

With a household size of three your income is quite close to the ACA limit for maximum subsidization. I suspect that is what you have been targeting to. As your children drop from your household, this ACA limit will drop drastically. Until then you might consider doing limited Roth conversions on yo...
by Carl53
Fri Feb 19, 2021 5:59 pm
Forum: Personal Investments
Topic: forced early retirement
Replies: 54
Views: 5977

Re: forced early retirement

Smith wrote: Fri Feb 19, 2021 5:01 pm I typed a reply but it disappeared into cyperspace.
I've had that happen in the past. If I have a long reply I highlight my text and right click to select copy just in case it might otherwise disappear. Some might even go so far as to past that copy in another file.
by Carl53
Thu Feb 18, 2021 4:17 am
Forum: Personal Consumer Issues
Topic: [Generators]/ supplemental power generation
Replies: 162
Views: 8714

Re: [Generators]/ supplemental power generation

About 15 years ago, elderly inlaws living in a very rural location installed a 20Kw Generac unit (propane) for about $7500 including load shedding capability after offspring found out they had an ice storm that knocked out power for a couple days and they had not said anything about being cold. This...
by Carl53
Wed Feb 17, 2021 7:52 am
Forum: Personal Investments
Topic: Roth vs. Traditional with 2x Fed Pensions
Replies: 37
Views: 2364

Re: Roth vs. Traditional with 2x Fed Pensions

Having some in Traditional IRAs, might someday prove beneficial. Do you now or anticipate making charitable contributions. Once you are 70.5 you can make charitable contributions from your TIRA, offsetting some of your RMD (if 72) without paying taxes on the contribution. Also, major health care exp...
by Carl53
Sun Feb 14, 2021 6:31 am
Forum: Personal Consumer Issues
Topic: Costco Citi Visa annual reward; Executive Member annual reward redemptions
Replies: 49
Views: 8623

Re: Costco Citi Visa annual reward; Executive Member annual reward redemptions

We had the Costco Executive Membership a couple years ago. The store was about an hour away and we only visited a few times. Originally bought it as we got a discount on a vehicle rental that saved much the cost of membership. We were upsold to the executive class with the promise that we would get ...
by Carl53
Sat Feb 13, 2021 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Engineering Physics as a major
Replies: 92
Views: 4597

Re: Engineering Physics as a major

A long time ago when I was pursuing my ChE degree, my school offered Engineering Physics as a major. Not sure that many took it or certainly there were none bragging about the offers they got. That said, the best engineer I ever hired only had a PhD in physics. He was looking for anything, and appli...
by Carl53
Thu Feb 11, 2021 7:05 pm
Forum: Personal Consumer Issues
Topic: Breakfast cereal?
Replies: 172
Views: 18382

Re: Breakfast cereal?

Raisin bran with a fresh sliced banana. Except I usually don't eat breakfast, so I have it for lunch. I’ve eaten Post Raisin Bran for a number of years multiple days per week, often with extra raisins or sliced fruit added. Two of the last three boxes were vastly different, remained hard no matter ...
by Carl53
Thu Feb 11, 2021 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Am I nuts? About to retire early without bulletproof money.
Replies: 89
Views: 11605

Re: Am I nuts? About to retire early without bulletproof money.

We were in a similar position with similar numbers back in 2008 but there were two of us. Retirement funds took a biiig hit of 30-40% but were able to whether the storm due to decent pension and cash position. I did pick up some side pay as former employer asked me back for a couple of side projects...
by Carl53
Thu Feb 11, 2021 6:27 am
Forum: Personal Investments
Topic: Finally Moving to Vanguard Now What?
Replies: 7
Views: 885

Re: Finally Moving to Vanguard Now What?

With a retirement fund contribution, she will likely be able to claim a nonrefundable retirement savers credit of up to 50% if she otherwise would have owed federal taxes. A nice bonus incentive for lower income folks.
by Carl53
Wed Feb 10, 2021 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Pushing SS Income Into Next Year
Replies: 20
Views: 2034

Re: Pushing SS Income Into Next Year

I suppose this could work for a spouse while not 70 but past FRA, could get spousal back to FRA (if within 6 months of it) once the higher earner filed at 70.5.
by Carl53
Sun Feb 07, 2021 7:56 pm
Forum: Personal Investments
Topic: Portfolio review request, age 48
Replies: 12
Views: 2020

Re: Portfolio review request, age 48

OP your spending outside of taxes appear to be 150k with offspring soon to be off to college. You will likely have 20X the 150k accumulated by the time you retire, however, consider what your expenses might be if you are able to fulfill your dreams of travel. You should be able to do it, but should ...
by Carl53
Sun Feb 07, 2021 9:08 am
Forum: Personal Finance (Not Investing)
Topic: What's your highest limit credit card?
Replies: 98
Views: 6088

Re: What's your highest limit credit card?

A decade or so ago, I got annoyed that the CC companies kept bumping up our limits several thousand dollars each year. I finally got them to reduce and freeze the limits as I did not want the much higher limits. We are in the process of renovating another home. Without bumping up the limit on the go...