Search found 10381 matches

by mhalley
Sun Mar 17, 2024 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 21
Views: 1726

Re: Medigappers: which plan do you have and why

Check out some of the YouTube channels that go over the differences between the plans. Here’s one to get u started.
https://m.youtube.com/watch?v=MWrNhZW8Z ... Nlcg%3D%3D
by mhalley
Sun Mar 17, 2024 9:37 am
Forum: Personal Consumer Issues
Topic: Pointers for Buying 2024 Honda Odyssey EX-L
Replies: 11
Views: 937

Re: Pointers for Buying 2024 Honda Odyssey EX-L

I sold my car to carvana for more than the dealer would give on my trade in. It was pretty painless. You will generally get more from local or something like carvana than a dealer. Remember to count the state tax savings in the deal because a trade in reduces the sales tax on the new car in some states.
Another option is to go to caredge and post the deal on their forum to get an opinion.
by mhalley
Sat Mar 16, 2024 11:36 pm
Forum: Personal Investments
Topic: OpenSocialSecurity Spousal Benefits question
Replies: 3
Views: 672

Re: OpenSocialSecurity Spousal Benefits question

The WEP calculation is complicated. I would file at HER fra just to make sure she receives anything she might be eligible for.
by mhalley
Wed Mar 13, 2024 10:27 pm
Forum: Personal Consumer Issues
Topic: Wool slippers worth it?
Replies: 53
Views: 5219

Re: Wool slippers worth it?

Glad to see someone else that uses the sketchers as indoor slippers. I have a couple pair that are my outside shoes and a pair I use for slippers indoors. Every time I’ve purchased house slippers they are too big or too small. And the sheerling lined ones are too hot.
I also have some crocs with a canvas upper that I alternate with the sketchers that are comfy.
https://www.crocs.com/p/mens-santa-cruz ... ar&cid=261
by mhalley
Tue Mar 12, 2024 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Gift from Foreigner Parents
Replies: 3
Views: 629

Re: Gift from Foreigner Parents

IANAL
https://www.google.com/url?sa=t&source= ... 52Dtaxable.)&ved=2ahUKEwj6xdbWiPCEAxW7tokEHQs-AOEQFnoECBIQBQ&usg=AOvVaw1WroAINFRkKgNHskbN_rTf
No, the US does not have a foreign gift tax, unlike the foreign inheritance tax. If you receive a gift from a foreign person, the gift is not subject to taxation. However, if the value of the gift exceeds certain thresholds, you must report it to the IRS. (It will remain non-taxable.)
by mhalley
Tue Mar 12, 2024 8:15 pm
Forum: Investing - Theory, News & General
Topic: what does the "11" mean in this video?
Replies: 8
Views: 1185

Re: what does the "11" mean in this video?

I think it represents that the stockholder has 10% of the company PLUS 10% of earnings. So it is represented as 10 plus 10% of 10 = 11.
It is worded awkwardly
by mhalley
Mon Mar 11, 2024 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score: 805 - Should I close old Credit Cards?
Replies: 12
Views: 1929

Re: Credit Score: 805 - Should I close old Credit Cards?

You should def have more than one credit card. You could have one credit card cancelled by the bank suddenly for no reason, or lose one and not have it while the new one is being mailed, or some other problem when the card is rejected. As they have no fees, no need to cancel. Just buy a tank of gas or something twice a year with them to keep them in good standing. If they used infrequently the chance of fraud is very low. I have no advice on the overseas part.
by mhalley
Mon Mar 11, 2024 9:02 pm
Forum: Personal Investments
Topic: Newly Retired--Should I rollover my 403b?
Replies: 1
Views: 411

Re: Newly Retired--Should I rollover my 403b?

If you are concerned about inflation you should increase your stock allocation. https://www.forbes.com/sites/qai/2022/09/14/tips-vs-the-stock-market-comparing-historic-returns-in-times-of-high-inflation/?sh=5a94c93d1eb9 TIPS have been around since the late 1990s, and they have performed well during that time. But they haven’t offered far superior returns compared to other types of fixed-income securities. For example, from 2002 through 2021, U.S. bonds returned 4.33%, and global bonds returned 4.43%. Since 2000, the Vanguard TIPS fund (VIPSX) has returned 4.83%….. Choosing whether to invest in the stock market or TIPS can be enormously challenging and depends on many factors unique to your financial situation. If you have money that you can...
by mhalley
Mon Mar 11, 2024 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Removing "managing" from Fidelity account
Replies: 8
Views: 1230

Re: Removing "managing" from Fidelity account

Unfortunately she will need to call.
From the Fido faq
How do I close my Fidelity® Personalized Planning & Advice account?
To close your account or terminate the service, contact us at 800-343-3548. There is no cancellation fee. If you do terminate the service, you’ll be charged a prorated portion of the advisory fee for the time your account was managed, based on your account balance during that period.


If you’d like to terminate the service, it’s important you understand that the Fidelity Flex®> funds in your account can only be held in certain Fidelity fee-based accounts.
by mhalley
Sun Mar 10, 2024 11:19 pm
Forum: Personal Investments
Topic: Thinking of Switching From Big Name Manager to Vanguard
Replies: 11
Views: 1431

Re: Starting the SSRI Paperwork

Start with the bogleheads wiki. Setup your account at vanguard. (Or fidelity or Schwab) Setup the account to have tax lots as specific identification. Read the posts getting started, asset allocation and three fund portfolio. Contact vanguard or fidelity or Schwab) to initiate the transfer IN KIND from your currrent brokerage. You can do this online. If you try to do a push from them, they will drag their feet and are trained on how to convince you that you are making a huge mistake. The major pitfall would be selling and owing cap gains taxes. https://www.bogleheads.org/wiki/Getting_started https://www.bogleheads.org/wiki/Asset_allocation https://www.bogleheads.org/wiki/Three-fund_portfolio You can always talk to vanguard about potentially...
by mhalley
Sun Mar 10, 2024 9:59 pm
Forum: Personal Investments
Topic: Thinking of Switching From Big Name Manager to Vanguard
Replies: 11
Views: 1431

Re: Starting the SSRI Paperwork

The thing about vanguard pas is they want all the funds/etfs to be vanguard products. If your account is taxable, then you might end up with a large tax bill to switch to pas. You would need to look at the account and see how much capital gains you have, and if a lot work on a plan to gradually switch to a more reasonable portfolio. But certainly you could move to vanguard with the ultimate goal of a 3 fund portfolio.
Some immediate steps:
Turn off dividend investment
Sell funds with capital losses
Sell funds with gains to equal the amount of losses
Figure how mipuch extra tax you are willing to pay each year to unwind the portfolio over a few years
by mhalley
Fri Mar 08, 2024 1:35 am
Forum: Personal Finance (Not Investing)
Topic: RMD questions
Replies: 2
Views: 636

Re: RMD questions

RMD is not prorated. It can be taken at any time during the year, as long as it is completed by Dec 31.
by mhalley
Fri Mar 08, 2024 1:31 am
Forum: Personal Finance (Not Investing)
Topic: Contributions to tax-deferred or roth 401(k) 3 years from retirement
Replies: 7
Views: 823

Re: Contributions to tax-deferred or roth 401(k) 3 years from retirement

I would consider putting money in taxable for more flexibility for ACA coverage and money to pay taxes on possible Roth conversions.
by mhalley
Thu Mar 07, 2024 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: tax / estate planning for Roth IRAs
Replies: 6
Views: 826

Re: tax / estate planning for Roth IRAs

I just remembered another option I’ve heard on financial podcasts. It involves a 2d to die whole life insurance policy to pay the estate taxes. Course won’t work if you are not healthy.
by mhalley
Thu Mar 07, 2024 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: tax / estate planning for Roth IRAs
Replies: 6
Views: 826

Re: tax / estate planning for Roth IRAs

I think there are some trust that might do this, but IANAL.The obvious answer is to get a tax/estate attorney. Remember that the estate taxes will only apply to the amount above the exemption.
by mhalley
Thu Mar 07, 2024 9:30 pm
Forum: Personal Investments
Topic: Backdoor Roth conversion with an existing Traditional IRA
Replies: 10
Views: 1491

Re: Backdoor Roth conversion with an existing Traditional IRA

I think most people would say the hassle of tracking nondeductible ira contributions isn’t worth it. Just save in a taxable brokerage account.
by mhalley
Thu Mar 07, 2024 3:45 pm
Forum: Personal Investments
Topic: Roth vs traditional 401K for me at 12% (and understanding check)
Replies: 3
Views: 414

Re: Roth vs traditional 401K for me at 12% (and understanding check)

Taxes are most likely to go up in the future, although no one can know. Roth seems a no brainer to me.
by mhalley
Thu Mar 07, 2024 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: HELP! Need Credit Card Advice for Young Adult
Replies: 14
Views: 934

Re: HELP! Need Credit Card Advice for Young Adult

2 different 2% cash back cards from different banks, pay off each month, no more than 30% credit utilization and you will have great credit. If you shop at Amazon get their 5% card.
by mhalley
Thu Mar 07, 2024 1:51 pm
Forum: Personal Consumer Issues
Topic: Should I buy this phone?
Replies: 24
Views: 1875

Re: Should I buy this phone?

I think there are plenty of phones for around 500 that meet most people’s needs. Additionally, I would look at the cost of a phone as what you pay for a years worth of use for it, if you get a 1k phone and keep it for 4 years, it doesn’t seem as bad.
by mhalley
Thu Mar 07, 2024 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Another Medicare Advantage Discussion - Let's have some facts
Replies: 22
Views: 1297

Re: Another Medicare Advantage Discussion - Let's have some facts

I’ve seen several YouTube videos that take various medical scenarios and compare the oop costs to plain Medicare, advantage, and Medicare plus supplement. For example, one showed 150k in cancer chemotherapy plus a couple of hospitalizations and supplement was less expensive.
by mhalley
Wed Mar 06, 2024 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Moving part/all of 529 to Fidelity 529
Replies: 0
Views: 192

Moving part/all of 529 to Fidelity 529

I have an overfunded 529 with my granddaughter as beneficiary. I am planning to do the 529 to Roth transfers as per the recent tax law changes. Considering easiest way to accomplish this.
1. Fill out the paperwork to do it at the old 529. I don’t think they have an online process.
2. Move the 35k to Fidelity 529 to hopefully make the transfer easier. Keep the remainder at the old custodian to maintain the history of contributions.
3. Move the entire 529 to Fidelity
Does the age of the 529 transfer when you move accounts?
by mhalley
Mon Mar 04, 2024 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Spousal Benefits
Replies: 5
Views: 732

Re: Social Security Spousal Benefits

If you claim spousal benefits at your full retirement age, you get 1/2 of your ex spouses pia. This assumes your pia is less than that amount. In order to qualify, you need to have been married for 10 years.
If you claim prior to your fra, you get decreased benefits. This does not affect your survivor benefit.
Table of benefits percentage by age
https://www.ssa.gov/benefits/retirement ... /1960.html
by mhalley
Mon Mar 04, 2024 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Eligible for Social Security now that back taxes are filed?
Replies: 2
Views: 562

Re: Eligible for Social Security now that back taxes are filed?

I know of no tax status required to file for SS, as long as you have the 40 credits needed and are 62+.I would say that if she has the 40 credits needed to file, and wishes to file at her current age, there is no need to wait. SS will eventually add the earnings to your wife’s pia calculations and make you whole. (If they are not already in the system) Might take a while, but eventually it will be the same as if you wait until the taxes enter the SS system. Another option would be to wait and file retroactively. It all depends on if you need the SS income now. Have you created my SS web account? Check to see if those years are there. Were these self employment tax returns? I don’t think you have to actually file taxes for the earnings to sh...
by mhalley
Sun Mar 03, 2024 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: IRS 1040 / 8606 / where to track 403b
Replies: 5
Views: 525

Re: IRS 1040 / 8606 / where to track 403b

You don’t need to report anything to the irs unless you make withdrawal.

https://humaninterest.com/learn/article ... r-my-401k/
Generally speaking, you can claim deductions for 401(k) contributions—and if you haven’t made any withdrawals from your 401(k), you don’t need to report anything to the IRS
You don’t need to do form 8606 unless you do backdoor Roth.
by mhalley
Sun Mar 03, 2024 8:55 am
Forum: Personal Investments
Topic: SPIA: Roth or tIRA
Replies: 9
Views: 1330

Re: SPIA: Roth or tIRA

I also see no need for a spia with the current income plus very large net worth.
by mhalley
Sun Mar 03, 2024 1:32 am
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 5973
Views: 689679

Re: [What TV Show Have You Recently Watched?]

First two episodes of Shogun, streaming on Hulu. Very high production values, excellent interpretation of the book by James Clavell. Tells the story of an Englishman thrust into the very foreign and violent world of feudal Japan in 1600. Danger besets him from all sides as the leaders of Japan jockey to become the Supreme military leader of the country. His captor, Lord Toranaga hopes to use him as a pawn against his enemies. He struggles to learn the language and the very different way of thinking, rising to become samurai and falling in love with his tutor. Very good so far.
by mhalley
Sat Mar 02, 2024 2:26 pm
Forum: Personal Investments
Topic: 401K Administrative fees: Are there better options?
Replies: 9
Views: 553

Re: 401K Administrative fees: Are there better options?

I think that is a little high. WCI put our a post on the ideal 401k plan and which co he chose for his business here:
https://www.whitecoatinvestor.com/the-new-wci-401k/
Plus he has a list of recommended providers here
https://www.whitecoatinvestor.com/retirementaccounts/
by mhalley
Fri Mar 01, 2024 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Identity theft precautions and questions and cyber insurance?
Replies: 2
Views: 578

Re: Identity theft precautions and questions and cyber insurance?

Clark Howard doesn’t think paid credit monitoring is worth it. Instead, setup credit karma/ sesame acco7nt and check annual credit report.com. You will need to thaw cr3dit reports to setup the account.
by mhalley
Thu Feb 29, 2024 10:37 pm
Forum: Personal Investments
Topic: Separate Vanguard Broker Account for each Mutual Fund
Replies: 8
Views: 1295

Re: Separate Vanguard Broker Account for each Mutual Fund

It seems overly complicated to me. Each account will have a different return, causing the percentage of your net worth left to each heir to change constantly. Having one account with % to each heir. Say 50% to daughter, 25% to grand daughter, 5% to miscellaneous etc or however you would like it distributed seems less of a hassle. But either way is fine.
Beneficiary designations on accounts trump the will.
by mhalley
Wed Feb 28, 2024 9:24 pm
Forum: Personal Investments
Topic: Portfolio Review Request for Young Adult and Recent Graduate Starting First Job
Replies: 12
Views: 1532

Re: Portfolio Review Request for Young Adult and Recent Graduate Starting First Job

Having stocks in the 529 might not be the best way to go. In general, money needed within 5 years should not be 100% stocks, as the value can be cut in half just when you need it.
by mhalley
Tue Feb 27, 2024 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Divorced Spouse Survivor Benefits
Replies: 8
Views: 637

Re: Social Security Divorced Spouse Survivor Benefits

That’s my understanding.

https://www.usatoday.com/story/money/pe ... /97384164/
A: So, if you take your own Social Security at 62 with the reduced payment, and are later widowed, your own early payment reduction will not carry over to the widow’s payment, says Andy Landis, author of Social Security: The Inside Story, 2016 Edition.
by mhalley
Tue Feb 27, 2024 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Divorced Spouse Survivor Benefits
Replies: 8
Views: 637

Re: Social Security Divorced Spouse Survivor Benefits

Claiming early decreases SS SPOUSAL benefits, but does not decrease SURVIVOR benefits, assuming the spouse does not claim survivor benefits prior to fra. The surviving spouse would receive the ex spouses full SS benefit.
by mhalley
Mon Feb 26, 2024 9:23 pm
Forum: Personal Investments
Topic: combining after tax accounts at VG
Replies: 2
Views: 1124

Re: combining after tax accounts at VG

You might want to save the cost basis before the transfer, just in case there is a problem. But the cost basis should transfer. Plus make sure spec id is turned on for all accounts.
https://investor.vanguard.com/investor- ... t-vanguard
by mhalley
Sun Feb 25, 2024 12:27 pm
Forum: Personal Investments
Topic: Roth Conversion: Mine vs. Spouse - Does it Matter?
Replies: 19
Views: 1437

Re: Roth Conversion: Mine vs. Spouse - Does it Matter?

Converting the funds from the oldest spouses ira would make sense to delay higher rmds as long as possible. All IRAs can be rolled into the surviving spouse account so which ira has more funds doesn’t matter.
by mhalley
Sun Feb 25, 2024 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Uneven Estimated Withholding Question(s)
Replies: 16
Views: 1117

Re: Uneven Estimated Withholding Question(s)

The taxes are technically due in the quarter income is earned. Making uneven payments is fine, you just might need to fill out a form to explain why you did it that way. But paying equally is simpler.
by mhalley
Sun Feb 25, 2024 10:42 am
Forum: Personal Finance (Not Investing)
Topic: What got you out of poverty?
Replies: 111
Views: 12845

Re: What got you out of poverty?

Joined the Navy and used gi bill to go to college and med school.
by mhalley
Wed Feb 21, 2024 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401K - Can contributions go to existing Roth IRA?
Replies: 8
Views: 539

Re: Solo 401K - Can contributions go to existing Roth IRA?

IRAs are totally different and separate from employer based accounts such as 401ks.
by mhalley
Mon Feb 19, 2024 11:48 pm
Forum: Personal Consumer Issues
Topic: Odd phone call to an old number, should we be concerned?
Replies: 10
Views: 2231

Re: Odd phone call to an old number, should we be concerned?

You can’t go by the number anymore, they can put any number they want you to see.
by mhalley
Mon Feb 19, 2024 6:16 pm
Forum: Personal Consumer Issues
Topic: Denver car theft and crime issues - how bad is it?
Replies: 15
Views: 2794

Re: Denver car theft and crime issues - how bad is it?

I think local reports would be too subjective. You might try one of these sites.
NeighborhoodScout
CrimeReports
AreaVibes
SpotCrime
Trulia Crime Map
ADT Crime Maps
by mhalley
Mon Feb 19, 2024 2:07 pm
Forum: Personal Investments
Topic: Need permission to stop saving and coast, please:)
Replies: 15
Views: 3289

Re: Need permission to stop saving and coast, please:)

I’m pretty conservative so I would say not to coast. We have no idea what the stock market, inflation and interest rates will do. You might be able to cut back a little. Esp with an 800k purchase coming up.
by mhalley
Sun Feb 18, 2024 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: New to RMD
Replies: 12
Views: 1914

Re: New to RMD

As I recall vanguard doesn’t do state tax withholding for around half of states.
https://personal1.vanguard.com/pdf/sawhtc.pdf
by mhalley
Sun Feb 18, 2024 7:56 pm
Forum: Personal Consumer Issues
Topic: Turning an old iphone into a Spotify controller for kids
Replies: 2
Views: 515

Re: Turning an old iphone into a Spotify controller for kids

Might want to create a new Apple ID so you can use find me. Kids can always forget where they last had the phone.
by mhalley
Sun Feb 18, 2024 9:50 am
Forum: Personal Consumer Issues
Topic: Sound bar
Replies: 43
Views: 4015

Re: Sound bar

by mhalley
Thu Feb 15, 2024 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Next Year’s Estimated Tax Amount When No Tax Due This Year But Will Owe Tax Next Year
Replies: 5
Views: 825

Re: Next Year’s Estimated Tax Amount When No Tax Due This Year But Will Owe Tax Next Year

If I expected to owe taxes I would apply the refund to next year. Look at the safe harbor rules.
The IRS will not charge you an underpayment penalty if:

You pay at least 90% of the tax you owe for the current year, or 100% of the tax you owed for the previous tax year, or
You owe less than $1,000 in tax after subtracting withholdings and credits
It’s better to pay the est taxes quarterly.
by mhalley
Thu Feb 15, 2024 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Email Address on Form 1040/Form 1040SR
Replies: 5
Views: 1096

Re: Email Address on Form 1040/Form 1040SR

From irs.gov
The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.
So I see no need to give them an email address.
by mhalley
Tue Feb 13, 2024 11:08 pm
Forum: Personal Investments
Topic: I am Financially Ignorant and Seeking Guidance
Replies: 33
Views: 3703

Re: I am Financially Ignorant and Seeking Guidance

You can change to cheaper er funds inside retirement accounts with no tax ramifications. If you don’t want international, that’s fine. You want a low cost total stock market index fund or etf, and a total bond market index fund or etf. Rolling your traditional and Roth IRAs to fidelity might make it easier to keep track.
by mhalley
Tue Feb 13, 2024 8:42 pm
Forum: Personal Consumer Issues
Topic: Supermarket pizza - any good ones? Any great ones?
Replies: 145
Views: 12478

Re: Supermarket pizza - any good ones? Any great ones?

These pizzas are way too expensive for a boglehead! And the $$$ to bake in the oven? What you need is Asmongold’s $3 pizza. (Salty language, nsfw)
https://m.youtube.com/watch?v=E3rWBGgII ... xkIHBpenph
by mhalley
Tue Feb 13, 2024 6:44 pm
Forum: Investing - Theory, News & General
Topic: Low-cost provider that's not Vanguard?
Replies: 47
Views: 3920

Re: Low-cost provider that's not Vanguard?

I know in my brain that having all of my money in one place is fine. But I sleep better at night knowing it is split among 3 brokerages,
by mhalley
Tue Feb 13, 2024 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare - variances by state?
Replies: 6
Views: 887

Re: Medicare - variances by state?

Medicare itself is federal. Medicare plus a supplement can generally be used nationwide. Medicare advantage plans have networks so states matter more. Some advantage plans do cover out of state emergencies but might have more rules or costs.
https://www.ncoa.org/article/does-medic ... u-anywhere
by mhalley
Tue Feb 13, 2024 2:12 pm
Forum: Personal Consumer Issues
Topic: Helping understand Traditional IRA deduction when covered by work 401k
Replies: 5
Views: 542

Re: Helping understand Traditional IRA deduction when covered by work 401k

IRA and 401k limits are totally separate. The magi limit for trad ira full deduction in 2023 is 73k for single w 401k. You are cutting it close, but there is partial deductibility if you go over.
https://www.schwab.com/ira/traditional- ... ion-limits