Search found 39 matches

by Lets do this thing
Fri Jan 01, 2021 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

OP, thank you for your kindness regarding the early death of my husband. I learned a lesson that large portfolios mean little when confronted with the loss of the person who is your soulmate and best friend. Ditto, and my condolences as well--I was 50 when my soulmate/best friend/husband died at 55...
by Lets do this thing
Fri Jan 01, 2021 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

There are many factors so it's hard to calculate it precisely. However, making your best guess is likely to be better than doing nothing. In a couple of situations in this thread, IRA owners were or expected to be in the 12% bracket. A 12% tax rate is sufficiently low that converting (or contributi...
by Lets do this thing
Fri Jan 01, 2021 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

[quote=MathWizard post_id=5699282 time=1609448579 user_id=28614 I could pay even less in taxes if I let my wife pay more (as a single) after I pass, and let my kids pay more by having them inherit a tax deferred IRA rather than Roth. [/quote] Witty 2020 thoughts. We will all sober up in 2021 even th...
by Lets do this thing
Thu Dec 31, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Hubbie and I are holding 1.5M + in traditional, 401K and Roll over IRAs. (We have some $$ in Roths) He is 65 and retiring. I will follow suit in 5 years. Thinking about the tax consequences of our accounts makes me break out into a cold sweat. To be honest, $1.5M in tax-deferred is not a HUGE amoun...
by Lets do this thing
Thu Dec 31, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

OP, thank you for your kindness regarding the early death of my husband. I learned a lesson that large portfolios mean little when confronted with the loss of the person who is your soulmate and best friend. To answer your question regarding progression of my conversions, here are the particulars o...
by Lets do this thing
Thu Dec 31, 2020 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

The RMDs at age 72 would be about $60k on $1.5 million. What are your other income streams and what would be the total income with RMDs? Do you live in a state that (unfortunately) taxes retirement income? What are you expected spending needs in retirement? If you were both high earning and have la...
by Lets do this thing
Thu Dec 31, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

When I look at the balances in our tax-deferred accounts, I try to keep in mind that the government owns part of the account. In exchange for permitting me to invest my share with no tax drag, the government has given me the job of investing its share. Eventually I need to turn the government’s sha...
by Lets do this thing
Thu Dec 31, 2020 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Hubbie and I are holding 1.5M + in traditional, 401K and Roll over IRAs. (We have some $$ in Roths) He is 65 and retiring. I will follow suit in 5 years. Thinking about the tax consequences of our accounts makes me break out into a cold sweat. Sorry but I'm not seeing a huge issue here. Now if you ...
by Lets do this thing
Thu Dec 31, 2020 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

I modeled different levels of Roth conversions using this calculator: https://www.mortgagecalculator.org/calcs/1040-calculator.php Don't be fooled by the url name, there are lots of calculators at the site, mortgages, taxes, etc., I have used the tax calculators to model my spending, and my first R...
by Lets do this thing
Thu Dec 31, 2020 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Convert $10 tomorrow and see what happens to your 2020 tax return. I will second this. I've adopted livesoft's strategy of using my last year's tax return as a starting point and filling out the following year's tax return early and doing some 'what if' entries (eg. roth conversions). I'm 61, been ...
by Lets do this thing
Thu Dec 31, 2020 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Still stinking from selling my mother's house. Had the house in a trust. Sold it for $400K with $100K going to state/fed. I'm not very knowledgeable about Trusts, but was there a reason that you could not get a stepped-up basis upon mom's death? (Or did you keep the house for a while as a rental?) ...
by Lets do this thing
Thu Dec 31, 2020 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

If I had everything in IRAs or pre-tax accounts, I'd be more anxious. I like to have tax diversification. I'm not sure why, but: 33% taxable, 33% Roth and 33% IRA & pension feels about right to me. You never know what the tax system will look like in 20 years, so unless I can convert IRA to Rot...
by Lets do this thing
Thu Dec 31, 2020 5:28 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

If I had everything in IRAs or pre-tax accounts, I'd be more anxious. I like to have tax diversification. I'm not sure why, but: 33% taxable, 33% Roth and 33% IRA & pension feels about right to me. You never know what the tax system will look like in 20 years, so unless I can convert IRA to Rot...
by Lets do this thing
Thu Dec 31, 2020 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

livesoft wrote: Wed Dec 30, 2020 9:49 pm Convert $10 tomorrow and see what happens to your 2020 tax return.
I could be really brash and convert $20.
by Lets do this thing
Thu Dec 31, 2020 5:25 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Still stinking from selling my mother's house. Had the house in a trust. Sold it for $400K with $100K going to state/fed. I'm not very knowledgeable about Trusts, but was there a reason that you could not get a stepped-up basis upon mom's death? (Or did you keep the house for a while as a rental?) ...
by Lets do this thing
Thu Dec 31, 2020 5:21 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

FiveK wrote: Thu Dec 31, 2020 1:42 am
Lets do this thing wrote: Wed Dec 30, 2020 7:59 pm I don't see any way around paying a giant chunk of change to state and fed.
You could also retire now, allowing that much more room to convert at lower rates. :)
Yes, that would be a solution. And one I would like.
by Lets do this thing
Thu Dec 31, 2020 5:21 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

The good news is that you have enough time before retirement to do large Roth conversions prior to retirement. More information is needed for forum members to help you. Do you have children, and if so, what are their ages? What are your plans for your estate when you both have passed? Are you chari...
by Lets do this thing
Wed Dec 30, 2020 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Re: Roth Conversion make me break out into a cold sweat

Super, Thanks. Best to put emotions to the back and bring data to the front.
by Lets do this thing
Wed Dec 30, 2020 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion make me break out into a cold sweat
Replies: 48
Views: 4324

Roth Conversion make me break out into a cold sweat

Hubbie and I are holding 1.5M + in traditional, 401K and Roll over IRAs. (We have some $$ in Roths) He is 65 and retiring. I will follow suit in 5 years. Thinking about the tax consequences of our accounts makes me break out into a cold sweat. This is not a data driven rational reaction but it is my...
by Lets do this thing
Tue Dec 15, 2020 12:45 pm
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12855

Re: Shopping for college

Good advice here but I would add that the intended major may be an important factor. My son went state (which was science oriented) and it was a bad match. It was inexpensive for us but a poor fit and overall a mistake.
by Lets do this thing
Mon Dec 14, 2020 7:55 am
Forum: Personal Investments
Topic: Portfolio Review request
Replies: 4
Views: 609

Re: Portfolio Review request

Unless you are planning on rolling over the Rollover IRAs back to a 401k that only accepts Rollover IRAs, you can rollover each person's Rollover IRA into their Traditional IRA (perhaps vice-versa too?) reducing number of accounts. The Fidelity Freedom funds and Blue Chip Growth are expensive. Have...
by Lets do this thing
Sun Dec 13, 2020 11:15 pm
Forum: Personal Investments
Topic: Portfolio Review request
Replies: 4
Views: 609

Re: Portfolio Review request

Thank you. You caught a mistake and corrected me. I am grateful for your input.
by Lets do this thing
Sun Dec 13, 2020 8:32 pm
Forum: Personal Investments
Topic: Portfolio Review request
Replies: 4
Views: 609

Portfolio Review request

Hello and thank you Bogleheads. My husband (64) is being "forced retired" in June. I will not retire for 5 more years. We are taking this time to review and present our portfolio to this forum. We have lived in the world of saving for a house, college and retirement but now must jump ship ...
by Lets do this thing
Mon Nov 30, 2020 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used a Career Coach for new college graduate?
Replies: 105
Views: 4667

Re: Has anyone used a Career Coach for new college graduate?

PreCovid everyone had job prospects. I was in school getting a technical writing certificate and our weekly guest speakers all gushed about the job market. Post covid everything looks different. Lots of kids have college degrees that differ from their actual careers. My daughter had a very difficult...
by Lets do this thing
Sun Nov 29, 2020 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used a Career Coach for new college graduate?
Replies: 105
Views: 4667

Re: Has anyone used a Career Coach for new college graduate?

OP, I'm in the same boat. Tried to counsel against a similar major. Son graduated and Covid hit so things aren't looking great right now. I don't have an answer for you but will say you are not alone. I don't think a career coach is a bad idea. We are using family in this role. PM me if you'd like.
by Lets do this thing
Sun Nov 29, 2020 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used a Career Coach for new college graduate?
Replies: 105
Views: 4667

Re: Has anyone used a Career Coach for new college graduate?

OP, I'm in the same boat. Tried to counsel against a similar major. Son graduated and Covid hit so things aren't looking great right now. I don't have an answer for you but will say you are not alone. I don't think a career coach is a bad idea. We are using family in this role.
by Lets do this thing
Thu Nov 26, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Learning about financial management in retirement
Replies: 7
Views: 866

Learning about financial management in retirement

I am looking for information on managing my finances in retirement. I have been a student of investing and feel prepared as far as fund accumulation and no debit. Husband is being "forced retired" so we need to figure out this new reality. I'm still working. We've got a handle on understan...
by Lets do this thing
Sun Sep 27, 2020 9:15 am
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 91
Views: 6935

Re: DIY life style. Typical Boglehead?

"But don't go around afterwards crowing about how everyone MUST learn to DIY things like you did - that is simply a false statement". Where is this coming from? Perhaps my point was missed. Was just having fun at seeing who was like minded and laughing at myself on some level. Made some go...
by Lets do this thing
Sat Sep 26, 2020 10:32 pm
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 91
Views: 6935

Re: DIY life style. Typical Boglehead?

We would get along great at a cocktail party. We could talk about IT, the field that I also work in.
by Lets do this thing
Sat Sep 26, 2020 10:05 pm
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 91
Views: 6935

DIY life style. Typical Boglehead?

I consider myself a hard core DIYer and am wondering if most Bogleheads consider themselves the same. I feel my husband and I come by DIY as a result of lessons learned growing up, both with immigrant grandparents. And yet, we are very different than our siblings, some of whom hire others for everyt...
by Lets do this thing
Sat Sep 19, 2020 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Retirement calculator for couple with shared assets
Replies: 5
Views: 533

Re: Retirement calculator for couple with shared assets

Thanks. I guess the ones I've seen are individual and so I better dig deeper.
by Lets do this thing
Sat Sep 19, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Retirement calculator for couple with shared assets
Replies: 5
Views: 533

Retirement calculator for couple with shared assets

My husband and I are trying to use a retirement calculator but are confused about the individual nature of the calculator. We have been together for 40 years and have many joint assets. We share cash accounts and joint real estate. We have our individual retirement accounts but we consider everythin...
by Lets do this thing
Sun Jan 24, 2016 12:10 pm
Forum: Personal Investments
Topic: Downturn in the Market
Replies: 33
Views: 4211

Downturn in the Market

I took a very serious hit to my Vanguard 2025 Target Retirement Fund and am currently in the mourning stage. Are you mourning your own lose? I want to invest in my ROTH IRA and have never been so conflicted. At every down turn in the markets I just marched forward. This time things seem different. I...
by Lets do this thing
Fri Feb 14, 2014 10:29 am
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Re: Investment rebalancing and fund analysis

Thank you for your insight. I am working with Vanguard now and making transfers. I am going to pick your brain on one last question. I dug out the information on my optional elective deferrals from my current job and see that I can defer up to 15,000/yr in a 403(b) annuity election with various vend...
by Lets do this thing
Thu Feb 13, 2014 1:08 pm
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Re: Investment rebalancing and fund analysis

Answers to your questions: 78% his traditional/rollover IRA 5% his roth 8.7% her traditional/rollover IRA 8.3% her roth 100% Total of all investments together The $125/month is going to an FDIC insured savings account in a bank I am still trying to track down an answer on the annuity. My paperwork i...
by Lets do this thing
Mon Feb 10, 2014 7:39 pm
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Re: Investment rebalancing and fund analysis

1. Annuity. This is a remnant from a former job at a University. To my mind it is an odd little creature that I do not understand. We have been offered the option to invest in Annuities in our new current school jobs but lack a full understanding of what the vehicle is. 2. Currently the $6000 is a t...
by Lets do this thing
Sun Feb 09, 2014 8:41 pm
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Re: Investment rebalancing and fund analysis

Thank you for your response. So, for clarification, My husband and I have shared finances. I listed the accounts based on the link you sent me in the first message which suggested the way in which you wanted folks to post questions in the Asking Portfolio questions. I was going for clarity but I gue...
by Lets do this thing
Sun Feb 09, 2014 7:04 pm
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Re: Investment rebalancing and fund analysis

Thanks Laura, I've already learned so much from this site. I have resubmitted my question with more detail.
by Lets do this thing
Sun Feb 09, 2014 10:59 am
Forum: Personal Investments
Topic: Investment rebalancing and fund analysis
Replies: 11
Views: 1338

Investment rebalancing and fund analysis

I feel as if I am have too much going on, too many funds and too many brokerage firms and need a correction. I am 52 and wish to still grow my nest egg so I want to have the correct asset allocation. I am generally good at saving and investing but quite bad at selling and readjusting. I am somewhat ...