Search found 12896 matches

by celia
Wed Jul 28, 2021 1:56 am
Forum: Forum Issues and Administration
Topic: helping posters and asking for additional info
Replies: 1
Views: 199

Re: helping posters and asking for additional info

Interesting idea, but I see this solution back-firing since many questions about Roth don’t involve conversions or how to estimate the optimal amount to convert. Other threads already give all the relevant information. For example, how many OPs in these current threads (with “Roth” in the title) wil...
by celia
Tue Jul 27, 2021 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Retention Bonuses
Replies: 20
Views: 2960

Re: Vanguard Retention Bonuses

I am fairly sure this was NOT for PAS, but to be perfectly honest I'm not totally sure. The account was $1.2M. How much else did he have at Vanguard besides the $1.2M account? How many family members in his household (same address) have Vanguard accounts? At least Vanguard apparently didn’t have to...
by celia
Tue Jul 27, 2021 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Are Private Universities Worth It Compared to State Universities?
Replies: 151
Views: 8211

Re: Are Private Universities Worth It Compared to State Universities?

Normchad wrote: Mon Jul 26, 2021 9:50 pm None of the Supreme Court justices went public for undergrad, so beware of that. A few of them went to Stanford for undergrad I believe.
A past Supreme Court Justice, Tom C. Clark attended the University of Texas at Austin for both undergrad and law school.
by celia
Tue Jul 27, 2021 10:06 am
Forum: Personal Finance (Not Investing)
Topic: How do y'all feel about interest only HELOCs
Replies: 39
Views: 1970

Re: How do y'all feel about interest only HELOCs

Bought the house Feb 2019 for 192 with 180 in a traditional 30 year. After the 1 year was up I had it reappraised for refi and they valued it at 242 and gave me a 2.71% on a 5yr interest only HELOC. So, you bought a house for $192K and now ‘only’ owe, say, $220K? How is that ‘paying it off’? Whenev...
by celia
Tue Jul 27, 2021 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Should I Give Up My Earnest Money
Replies: 146
Views: 16220

Re: Should I Give Up My Earnest Money

I heard that the house across the street, with the same floor plan, will be listed for $1.1M next month. So you are getting a good deal on this house.

Does that change how you look at this?
by celia
Mon Jul 26, 2021 11:49 pm
Forum: Personal Investments
Topic: How to make up for a non COLA pension?
Replies: 20
Views: 1839

Re: How to make up for a non COLA pension?

I will also receive a pension with no COLA beginning at age 60 and thus find this topic interesting. However, I don't quite grasp the "why" of considering such a setup? Why??? The loaf of bread and gallon of gas you buy this year will cost more in 5, 10, 20, 24 years but your pension will...
by celia
Mon Jul 26, 2021 8:28 pm
Forum: Personal Consumer Issues
Topic: medical records
Replies: 20
Views: 1388

Re: medical records

I think we need to keep in mind that digitization and sharing of records has been changing since the ACA started. I still find that different doctor offices can’t always read data from other providers since there is no universal format for data sharing. I have been asked by doctors to bring in recor...
by celia
Mon Jul 26, 2021 7:55 pm
Forum: Personal Investments
Topic: Roth Conversion Questions / Limits /Age
Replies: 10
Views: 751

Re: Roth Conversion Questions / Limits /Age

I think he’s referring to IRMAA since ACA no longer applies once you are over 65. Both ACA and IRMAA are medical-insurance-related. 1. No income limit (as you aren’t making any new contributions). 2. Contributions (and Roth conversions) can be withdrawn tax-free from Roth at any time since the taxes...
by celia
Mon Jul 26, 2021 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Are Private Universities Worth It Compared to State Universities?
Replies: 151
Views: 8211

Re: Are Private Universities Worth It Compared to State Universities?

You may be scratching your head saying "hey, you got an associates. Why'd it take you 4 years to finish a Bachelors degree?". Because only one course from my Electronics Technology associates degree transferred to the 4 year. English Comp. This is one of the problems with "just go to...
by celia
Mon Jul 26, 2021 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Are Private Universities Worth It Compared to State Universities?
Replies: 151
Views: 8211

Re: Are Private Universities Worth It Compared to State Universities?

What I have observed is that many private universities are very generous in terms of their merit and need-based scholarships. Therefore, you cannot compare sticker prices. One of the private schools that we are looking at for my son might actually cost less than our state's flagship public universi...
by celia
Mon Jul 26, 2021 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Class-action Lawsuit Against a Mutual Fund
Replies: 23
Views: 2412

Re: Class-action Lawsuit Against a Mutual Fund

Even the 0.20% Expense Ratio is nothing to worry about. (That is subtracted from the yearly growth, thus making this fund ‘only’ grow 98.5% of what Vanguard’s equivalent grew.) A lot of a fund’s expenses are ‘fixed’ (buildings, employee benefits, utilities), so a smaller fund has a higher ER since t...
by celia
Mon Jul 26, 2021 9:24 am
Forum: Personal Investments
Topic: Traditional 401k and ROTH 401k
Replies: 10
Views: 824

Re: Traditional 401k and ROTH 401k

You are age 49, with $2.7 already million in traditional tax-deferred 401ks, in the 24% federal tax bracket and planning to work 13 more years until age 62. I think it's probably best to do Roth 401k contributions. I don't know that this is or will turn out to be best, but it's not likely to be ter...
by celia
Mon Jul 26, 2021 3:58 am
Forum: Personal Finance (Not Investing)
Topic: Parents having trouble getting home loan
Replies: 22
Views: 2842

Re: Parents having trouble getting home loan

Despite having perfect credit scores, a few million in retirement funds, . . . However, they may be facing a bigger issue than trying to get a mortgage. Have they considered what their RMDs might be after several years of growth in their retirement accounts and what those RMDs will do to their taxe...
by celia
Mon Jul 26, 2021 3:34 am
Forum: Personal Finance (Not Investing)
Topic: Parents having trouble getting home loan
Replies: 22
Views: 2842

Re: Parents having trouble getting home loan

They're considering move out to the west coast, and figured they'd need another $300k loan to buy a home vs selling their current house in a low COL area. Why haven’t they considered selling their current home? That will free up cash for the new one. They were surprised at how little they were appr...
by celia
Sun Jul 25, 2021 4:52 pm
Forum: Personal Consumer Issues
Topic: Company does not offer full refunds
Replies: 35
Views: 2953

Re: Company does not offer full refunds

What I do to help me remember to do something in a future year is to make a notation on the back of my wall calendar or at the bottom of December the (approximate) date something is due or scheduled. Then when I put up the January calendar next year, I already have several notations to transfer to t...
by celia
Sun Jul 25, 2021 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: State Income Tax Quandary
Replies: 5
Views: 534

Re: State Income Tax Quandary

When you file a Virgina tax return and don’t have any liability to VA, then you will get the ‘excess’ paid taxes returned to you. But be prepared to show your break from VA. For example, when you filed your 2020 taxes, did you use your FL address? Do your custodians have your new address yet?
by celia
Sun Jul 25, 2021 4:12 pm
Forum: Personal Investments
Topic: Traditional to Roth
Replies: 23
Views: 2154

Re: Traditional to Roth

I don’t know what TCL is. I did not take FEHB since I have Tricare and the VA. Tricare goes away at 65 when it converts to Tricare for Life but only with Part A and B. My wife and I both have VA but hers is with copays. Mine is 100% medical with no copays. Most people that have this same type of me...
by celia
Sun Jul 25, 2021 4:03 pm
Forum: Personal Investments
Topic: Employer to only match while using financial advisor/firm
Replies: 92
Views: 5541

Re: Employer to only match while using financial advisor

What type of retirement plan is this? This smells of kickbacks. Agree. Lawsuit waiting to happen and with good justification at least morally, not sure about legally. Unless a fantastic job it would be enough to get me to consider a job change. So unethical. You're wrong. This is not a 401k. This i...
by celia
Sun Jul 25, 2021 2:22 pm
Forum: Personal Investments
Topic: Traditional to Roth
Replies: 23
Views: 2154

Re: Traditional to Roth

So would a good strategy be to max out the 24% bracket (up to about 172k)? The next higher is 32%....eeek!! If you're married and filing jointly the 24% bracket is currently $172,751 to $329,850, so if you go up to $172K you'll be in the 22% bracket. Of course with a progressive tax structure you d...
by celia
Sun Jul 25, 2021 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Locating a life insurance policy [via the executor of an estate]
Replies: 103
Views: 4412

Re: Locating a life insurance policy [via the executor of an estate]

He actually worked for an insurance agency briefly two years ago. My son called the office snd found out that he took that retirement money out to put into Bitcoin last year. The office manager tried to talk him out of it. **IF** he had active life insurance, I would bet he got it through the agenc...
by celia
Sun Jul 25, 2021 12:56 am
Forum: Personal Finance (Not Investing)
Topic: Whats the point of building wealth?
Replies: 32
Views: 2954

Re: Whats the point of building wealth?

I’m saving money for my golden years so I can have options like being buried sitting in my pink corvette: http://www.dailyundertaker.com/2009/10/obituaries-of-note-pink-lady-donna-mae.html?m=1 Or maybe I’ll decide to take a ride into space like Wally Funk . Or maybe I’ll come up with something that ...
by celia
Sat Jul 24, 2021 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: SSA Survivors Benefit Appeal in July 2021
Replies: 15
Views: 1414

Re: SSA Survivors Benefit Appeal in July 2021

My wife was so mad as you can imagine. She called me and asked what she should do. I told her to go to another DMV office about 10 miles away and see what they said. She went to the other office and they accepted her marriage license with no problem. I would have suggested she speak with the superv...
by celia
Sat Jul 24, 2021 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help on Estate and Tax Planning for Special Needs Child
Replies: 7
Views: 702

Re: Need Help on Estate and Tax Planning for Special Needs Child

The surviving spouse won't "deal with" the court -- his/her lawyer (or a paralegal in the law firm) will fill out the forms and file them. Filling out forms / providing information for the law firm sounds just as hard as filing the forms yourself. Does the law firm have any decisions to m...
by celia
Sat Jul 24, 2021 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Need Help on Estate and Tax Planning for Special Needs Child
Replies: 7
Views: 702

Re: Need Help on Estate and Tax Planning for Special Needs Child

6. With an expected $15M in assets, I’m not sure you want to restrict your daughter to having to rely on government benefits. Assuming she won’t be able to work and her personal assets will be minimal, she might end up qualifying for Medicaid, which might mean she has to use her government benefits ...
by celia
Sat Jul 24, 2021 3:26 am
Forum: Personal Finance (Not Investing)
Topic: SSA Survivors Benefit Appeal in July 2021
Replies: 15
Views: 1414

Re: SSA Survivors Benefit Appeal in July 2021

I would start over using a local office. Inform them she is now living with you. I don’t know if they ‘need’ to transfer her records to your area or not, but that may be irrevelant for your questions. I think the old office is wrong in requesting a marriage license (a form that shows you applied to ...
by celia
Thu Jul 22, 2021 1:11 pm
Forum: Personal Investments
Topic: Early Retirement - No longer needing to work - Back of Napkin formulas to determine when?
Replies: 68
Views: 7451

Re: Early Retirement - No longer needing to work - Back of Napkin formulas to determine when?

Basically your assets need to generate enough income for you to live off of. This means not counting your house or vehicles, unless you are renting them out. Any growth on your assets that you spend early then won’t be available to generate more growth for you to spend. Then you need to account that...
by celia
Thu Jul 22, 2021 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion calc. (34 yo)
Replies: 36
Views: 2357

Re: Roth conversion calc. (34 yo)

The more important thing is that the progressive tax income system is very likely to remain in place even decades from now, regardless of what the precise tax rates are. A progressive tax system means those with higher incomes pay more in taxes and at a higher tax rate than those who have less inco...
by celia
Wed Jul 21, 2021 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Dad diagnosed with Stage III cancer: postpone home purchase? Down payment?
Replies: 16
Views: 2145

Re: Dad diagnosed with Stage III cancer: postpone home purchase? Down payment?

Even though this may be tough on you, it is likely harder on your mom. I would let things progress and each of you be there for each other. If your dad dies (or even if he doesn’t) you will all need to have a ‘say’ on future housing. So just wait to see what happens. A family death or health scare i...
by celia
Wed Jul 21, 2021 6:43 pm
Forum: Personal Investments
Topic: Excess Contribution in Roth IRA
Replies: 3
Views: 322

Re: Excess Contribution in Roth IRA

TLDR

I’m sure your answer is covered in the Backdoor Roth wiki page. It would also help if you tell us what ‘categorize’ means.
by celia
Wed Jul 21, 2021 6:20 pm
Forum: Personal Investments
Topic: Review my parents' humble retirement with me
Replies: 36
Views: 6699

Re: Review my parents' humble retirement with me

I wouldn’t suspend dad’s SS. I would have him cancel it and pay back what he’s received so far. From his full retirement age (66.5?) until 70, the amount of their monthly SS benefit will increase 8% each year they wait !!! Where else can you get a guaranteed rate of growth that will benefit you for ...
by celia
Wed Jul 21, 2021 5:11 pm
Forum: Personal Investments
Topic: How would you invest 200k Right now?
Replies: 25
Views: 3741

Re: How would you invest 200k Right now?

It would depend on what you already own, the kind(s) of tax-advantaged accounts you have access to, your desired AA, and your goals.

What would be best for you would likely be different than for me or anyone else posting here.
by celia
Wed Jul 21, 2021 3:53 pm
Forum: Personal Consumer Issues
Topic: Be alert [for scam calls pretending to be from] Vanguard
Replies: 18
Views: 3192

Re: Be alert [for scam calls pretending to be from] Vanguard

But once you land on the ‘Vanguard’ website, what is the url? Does it have ‘Vanguard.com’ embedded into other characters? Or a different extension that a financial company wouldn’t use?
by celia
Wed Jul 21, 2021 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: How late to re-characterize Roth IRA contributions?
Replies: 12
Views: 669

Re: How late to re-characterize Roth IRA contributions?

Alan S. wrote: Mon Jul 19, 2021 7:26 pm …and if you met the above requirements it is not too late for a 2020 contribution either.
The deadline for 2020 contributions would have been May 17, 2021. Then Form 5498 reporting the contribution would have been mailed out by now.
by celia
Wed Jul 21, 2021 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA return of excess contribution in 2018. IRS says entire amount returned is taxable?
Replies: 15
Views: 1665

Re: Roth IRA return of excess contribution in 2018. IRS says entire amount returned is taxable?

Celia, OP stated on 7/14 the following order of 2018 contributions: 1) 1825 Roth contribution 2) Return of 1825 Roth contribution then valued at 1815 3) TIRA contribution of 5500. Alan , the OP has yet to say how much the original contribution was, especially since the OP ‘overcontributed $1825 thr...
by celia
Wed Jul 21, 2021 5:16 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA return of excess contribution in 2018. IRS says entire amount returned is taxable?
Replies: 15
Views: 1665

Re: Roth IRA return of excess contribution in 2018. IRS says entire amount returned is taxable?

OP, please confirm all your contributions and withdrawals for IRAs for 2018. Did you originally contribute $5500 or $1825 to a Roth IRA before requesting the Excess Contribution be Removed (which was then worth $1815)? Then you contributed $5500 to a TIRA which was then declared to be non-deductible...
by celia
Mon Jul 19, 2021 7:22 pm
Forum: Personal Investments
Topic: Roth Conversion (with spreadsheet!)
Replies: 54
Views: 4887

Re: Roth Conversion (with spreadsheet!)

Question... You mentioned you have TLC insurance. Can you please share more info about that? When and who you purchased with, the costs or daily rate you decided on, or other variables to consider and or helped you make your decision. Any tips you can provide would be great. It's definitely a conce...
by celia
Mon Jul 19, 2021 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: How late to re-characterize Roth IRA contributions?
Replies: 12
Views: 669

Re: How late to re-characterize Roth IRA contributions?

Huh? In July 2020, I contributed to a Schwab tIRA for 2020. On March 22, 2021, well before market close, I uploaded Schwab's form to request a recharacterization to Roth via their secure interface (as my account rep had instructed me to do.) 72 hours later I still had not yet even gotten an autorep...
by celia
Mon Jul 19, 2021 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement rate Increases
Replies: 29
Views: 2517

Re: Medicare Supplement rate Increases

Part G has a 2,370 deductible. You will pay $2,000 in premiums. If MSA medicare advantage is offered in your state, it has a 5,000 deductible, no premium and a 2,000 deposit to your MSA account, so a net 3,000 deductible. Your costs may be nothing or maximum $3,000. During open enrollment you have ...
by celia
Mon Jul 19, 2021 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Supplement rate Increases
Replies: 29
Views: 2517

Re: Medicare Supplement rate Increases

In all fairness a 67yo isn’t as healthy as a 65yo. His chances of needy more expense care increase each year as does inflation. Both of those are used in figuring out the premiums.
by celia
Mon Jul 19, 2021 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: How late to re-characterize Roth IRA contributions?
Replies: 12
Views: 669

Re: How late to re-characterize Roth IRA contributions?

Along this same conversation - going forward if I contribute to a a traditional IRA, can I just simply email Vanguard and re-characterize those contributions at a later date? If you mean you want to give Vanguard authorization to recharacterize in the future, that won’t work. They are supposed to d...
by celia
Mon Jul 19, 2021 5:42 pm
Forum: Personal Investments
Topic: Roth Conversion (with spreadsheet!)
Replies: 54
Views: 4887

Re: Roth Conversion (with spreadsheet!)

One of the things I like about this thread is showing how an answer doesn’t just pop up at the first attempt. It shows everyone a process that can be used and refined along the way. Many readers here (over 2,200 views right now) see that side research is also needed (ie, referenced pages). And every...
by celia
Mon Jul 19, 2021 3:59 pm
Forum: Personal Investments
Topic: Roth Conversion (with spreadsheet!)
Replies: 54
Views: 4887

Re: Roth Conversion (with spreadsheet!)

The tax stuff at the bottom is meaningless, but the values of RMDs and total income is more-or-less useful. This spreadsheet does not calculate taxes. (You might be looking at stray numbers from an example hanging around.) You have to run the numbers for each year through tax software and update th...
by celia
Mon Jul 19, 2021 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: What % of NW Should Be Wrapped Up in Your House?
Replies: 114
Views: 10223

Re: What % of NW Should Be Wrapped Up in Your House?

"What % of NW Should Be Wrapped Up in Your House?" is a strange question. Once you buy a house, your net worth (house equity plus other assets minus debts) changes monthly. As you pay your mortgage each month, you not only gain more equity, but also reduce your debt. Are you trying to say ...
by celia
Mon Jul 19, 2021 1:25 pm
Forum: Personal Investments
Topic: Roth Conversion (with spreadsheet!)
Replies: 54
Views: 4887

Re: Roth Conversion (with spreadsheet!)

I took the spreadsheet Celia recommended and put in my numbers. I think modest conversions of ~$100K prior to age 65 might do what I want. Here is a link to the spreadsheet: https://docs.google.com/spreadsheets/d/1FWJs-TLXfSuWBd7N4CDrqxI5FNMk9y7FCvukjsWvnTk/edit?usp=sharing The tax stuff at the bot...
by celia
Mon Jul 19, 2021 5:52 am
Forum: Personal Investments
Topic: Roth Conversion (with spreadsheet!)
Replies: 54
Views: 4887

Re: Roth Conversion (with spreadsheet!)

Age: 59 Filing Status: Single State: NM (~5% tax, 2.5% on cap gains/dividends) Tax Rate: 22-24% (see spreadsheet!), ~5% state Debt: None (well, car loan at 0% that I could pay off at any time) Portfolio Size: ~$3.8M AA: 55/45 (international is ... whatever, I have some but don't worry about fixed %...
by celia
Mon Jul 19, 2021 3:12 am
Forum: Personal Consumer Issues
Topic: Thoughts on tree removal
Replies: 62
Views: 4735

Re: Thoughts on tree removal

My wife is due for a new car in a year or two, but I am not going to purchase a new car if it's going to be parked underneath that tree. Simple. Park somewhere else. Or buy a dented used car. Besides the (storage) garage, you probably have a street in front of your house where you can park, or an e...
by celia
Mon Jul 19, 2021 2:42 am
Forum: Personal Consumer Issues
Topic: What are new job/career options with lots of income variance after FI
Replies: 23
Views: 1935

Re: What are new job/career options with lots of income variance after FI

Why do you want a lot of income variance?

If that’s what you really want, you could probably start your own business or be a:
Professional gambler
Earthquake (homeowner’s) adjuster
Tour guide
Income Tax preparer
or just about anything else that is seasonal.
by celia
Sun Jul 18, 2021 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Who is your trustee if you both die?
Replies: 18
Views: 2167

Re: Who is your trustee if you both die?

Our kids who are Bogleheads and more financially conservative than we are. (Sometimes they wonder why we bought what we did.)

When our original trust was created and the kids were small, it was our parents and siblings.
by celia
Sun Jul 18, 2021 11:50 am
Forum: Personal Investments
Topic: Rate My Roth IRA - 22 Year Old
Replies: 21
Views: 1690

Re: Rate My Roth IRA - 22 Year Old

You put a lot of thought into this. So it’s good to get the thought process working so well. But at your age, the amount you invest each year is more important than what you invest in. This is because compounding has more time to work. And saving in a Roth is the best place since all that growth wil...
by celia
Sun Jul 18, 2021 6:54 am
Forum: Personal Consumer Issues
Topic: Why Does No One Talk About Sales Tax When Considering Locations to Retire?
Replies: 136
Views: 7882

Re: Why Does No One Talk About Sales Tax When Considering Locations to Retire?

I did a search of this forum and found not much discussion on sales tax by location/state. Which is odd as its by far the biggest tax we'll pay to a state when we retire and it can vary a lot not just in the rate but where it is applied. Sales tax is “nothing” compared to other taxes in your state…...