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GerryL

I had been planning my retirement for several years but ended up retiring a year early thanks to an offer with severance that almost completely covered the last year. It was a few months before my 66th birthday. I figured that it would take me a few weeks to settle into my new life. No such thing. I...

GerryL

If I have ended up with any "buckets," it's cash and everything else. I probably keep more in cash than many, but as my cash stash grows (from dividends and RMDs), I move excess into a balanced mutual fund in my taxable account, thereby increasing the next round of dividends. Isn't a bala...

GerryL

I looked at the bucket approach as a way to simplify money management in retirement. But then I realized that after setting up the buckets I would still have to manage moving funds to keep the buckets at the appropriate level. Found it more confusing than clarifying. It does seem hard to imagine ho...

GerryL

I looked at the bucket approach as a way to simplify money management in retirement. But then I realized that after setting up the buckets I would still have to manage moving funds to keep the buckets at the appropriate level. Found it more confusing than clarifying. If I have ended up with any &quo...

GerryL

In my 30s? Ha. I started my 30s going to college on the GI bill. Then worked at low pay teaching English in Japan. By the time I hit my 40th birthday, I was back in the US in a "serious" job and was able to start an IRA, which at that time was a max of $2000/year. I knew nothing about inve...

GerryL

If you have kept a record of all the lots (sale dates and price paid), you should be able to tell the IRS which lots you sold and what their cost basis was. Pain in the wazoo, but if you have records, it's in your hands. My company stock got moved around a bit before I understood the concept of cost...

GerryL

I avoid participating in fund-raising drives like "Giving Tuesday" because you are asked to pay extra for processing fees. Charities may get extra $$ "awards" for having the most individual donations or other such competitions, but then you end up paying a flat fee on a minimal g...

GerryL

AAA wrote: ↑Wed Sep 23, 2020 2:23 pm
cheese_breath wrote: ↑Wed Sep 23, 2020 1:27 pm You can choose to take, or not take any amount. Maybe you should make your title non-RMD specific.
Huh?

I've been referring to 2020 withdrawals from my IRA as an un-RMD. (Since the "R" stands for "required," and it's not.)

GerryL

I executed my QCDs early in the year, before the RMD holiday was announced. Decided to keep those as-is rather than paying them back from other funds and claiming the donations as a charitable deduction. (As I noted elsewhere) I was planning to run some scenarios to see how much I should possibly ta...

GerryL

I've been getting messages from my ISP indicating that they have blocked emails supposedly coming though my account "Considered UNSOLICITED BULK EMAIL or SPAM apparently coming from you." Actually, happening on several of my email address (same ISP). I figure that as long as their system i...

GerryL

If you buy Russian-language discs, you're going to have to buy new a player, also - one that supports Region C. See region codes here: https://www.ursinus.edu/live/image/gid/81/width/680/height/315/8430_br_region.rev.1442498681.png You might also be able to find region-free discs, in which case you...

GerryL

Already did my planned QCDs for the year. While we wait for rules about undoing distributions during this RMD holiday, I am going to run some scenarios, including one that would have me redepositing money (from my cash stash) into my IRA and claiming the former QCDs as charitable deductions. I inte...

GerryL

Thanks for the responses, much appreciated! Slowly beginning to understand Medicare better... Might be worth your while to get a copy of Medicare for Dummies. Great guide for understanding the complexities of this complicated program. What I like most about it is that it doesn't just reprint the te...

GerryL

If she is " paying copays of many hundreds of dollars per prescription for many of these medications " she's most likely (1) enrolled in the wrong plan, (2) insisting on the brand name when a generic in available, (3) using a non-participating pharmacy, or (4) some combination of the othe...

GerryL

Advise your friend to seek help from her state SHIP program (see https://www.medicare.gov/contacts). The volunteers there can offer objective advice to navigate her choices. And, from what I understand, they will help run the Part D search for her when open enrollment opens if she is not comfortable...

GerryL

One thing signing up for Medicare Part A does is make you ineligible to fund an HSA (Health Savings Account) if your employer health insurance is a qualifying high-deductible plan.

GerryL

I feel all annuity investing is a mistake. A SPIA is the exception to that rule since it is in essence like buying a pension. Sorry, i do not agree. Only person a SPIA or any Annuity is good for is the insurance company that holds it and the salesman that sold it to you. Terrible investment. An ann...

GerryL

I just got a new computer last week and am gradually getting it set up the way I want it. I opted for an HP all-in-one to replace my 10-year-old HP all-in-one. I ordered it directly from HP and, despite warnings about delays, it arrived in less than a week. It's good to understand what programs you ...

GerryL

1) People around here who have FiOS are happy with it. (I happen to use a different provider). 2) It might be worth keeping faintly in the back of your mind that Verizon has been deemphasizing this part of their business since about 2015. I wouldn't factor it into provider choice, but do be aware t...

GerryL

I opted to take two tiny pensions as annuities instead of lump sums. I took the first when I retired (age 66) because it would not grow. I waited until age 69.5 to take the second because it continued to increase. Together they add up to less that $700/mo, but they are a welcome supplement to the SS...

GerryL

I focus on having Enough rather than having More. Ironically, by doing that and ignoring FOMO, I have ended up with More than Enough.

GerryL

I pay my USAA auto insurance twice a year. They are providing COVID-19 discounts, so I keep getting emails notifying me that my account has been credited for rather tiny amounts. I don't drive that much even in non-pandemic years, usually logging ~7k miles on my car annually. And in retirement, mile...

GerryL

Except for some employer stock, my taxable account is in a 60/40 balanced index fund. I started adding money many years ago before I learned about why I might not want to have bonds in a taxable account. I have only added to it and not taken anything out (except for dividends at some times), and now...

GerryL

I don't have teenagers yet, but I think it may be impossible to convince them that saving money now for when they're 65 is worthwhile. If they think 30 is old, how do you think they feel about 65? Yes, I know they can withdraw contributions before that, but that's not a practice I want to encourage...

GerryL

I have Roku. I understand that there is a lot of overlap between the two. I got a Roku because it has apps for several streaming services I wanted to be able to access on my TV. Most or all may also be on Firestick, too, but I didn't bother to check very deeply. I find that once you move past the we...

GerryL

You made the offer. He takes you up on it or he doesn't. You don't really need to negotiate. Try again next year.

GerryL

I used VRBO/HomeAway once 5 years ago. It was a little scary since it my my first such rental. A few glitches, but I learned how to do it going forward. Since then I have used AirBnB several times in US and France without any problems. Sometimes a place to myself and sometimes with the host. I stick...

GerryL

A few years ago I decided to finally shop around for a new auto insurer after repeated, no-cause increases in the premium at Farmers. I opted to go with USAA. But when I asked about bundling my homeowners insurance, I found that it would cost me more because at Farmers I am grandfathered in on their...

GerryL

One trick I discovered esp when traveling, is that I download all the books i want to read and set my kindle into "airplane mode" so that the book wont disappear from the kindle when it expires. They usually expires in 14 days. You may be able to adjust your checkout period. I use Libby t...

GerryL

71yo and >6 years into retirement. I have a spending "target" that was used to evaluate my retirement plan. (It does not include taxes and goes up each year for inflation.) So far I have never actually hit the target, and I keep a running tab of how much I fall short each year. That will b...

GerryL

She told me that the online tool for requesting an RMD (if you have not set up auto distributions) has recently been updated to make it easier to request QCDs. That's great news and I confirmed that it works for my case. Doesn't it still work even if Automatic RMD Distributions are set up? If it do...

GerryL

I see it every time I start up Quicken. I do like seeing it. Once a year, I print out a screen shot of it and put it in the filing cabinet. If I croak unexpectedly, hopefully somebody will see it and think “oh, there’s another $50k over there in some account I didn’t know we had”. Same here. I open...

GerryL

My long-time dentist hates insurance. He'll work with some insurance companies, but only grudgingly. I pre-pay for a year of preventative care, which includes discounts for other types of dental needs. I penciled out the costs for Delta Dental-type insurance coverage and his offer and it made sense ...

GerryL

I gave many years of notice - talked about it with co-workers all the time. I think most people were interested in learning about the details of the process since they'd be doing it to some day. Except for the exact day, my retirement was driven by vesting rules, and I retired the month I vested. A...

GerryL

You could use it as a music player - basically an oversized iPod Touch. This is essentially how I use my old iPhone 5c. I set it in a docking station and stream podcasts and foreign radio stations. (Although I also use it as a "container" for my French SIM and take it to Europe in non-Cov...

GerryL

Winning the Game: Living the life I choose to live, there is very little (if any) chance I will run out of money. This encompasses not just day-to-day spending, but also infrequent large expenses (e.g., car, new roof) and unexpected major expenses that can be somewhat mitigated by insurance. That, f...

GerryL

My accounts are with Vanguard. At the time I opened my DAF (2014) I still had a 401k at Fidelity. I went with the Fidelity Charitable DAF for 2 reasons: 1) the lower minimum contributions and grants and 2) the marketing material was much more "accessible," that is, easier to understand. Th...

GerryL

I retired about 6 years ago, but I prepped myself in the preceding years. Once I knew that my finances were in order, I focused on being mentally ready. I read up on living in retirement from various perspectives. I interviewed retired friends whose circumstances were similar to mine. I started a li...

GerryL

hulburt1 wrote: ↑Tue Aug 11, 2020 6:35 pm Heritage Wealth planning.
Have 150 videos'. A lot of good information
no trying to sell you something.

I tried watching those for a while. Found the presenter too hard to take. Nice guy, probably, but not a skilled presenter.

GerryL

In the evenings I usually plop down in front of the TV and check out what YouTube is recommending for me. Sometimes I change up the recommendations with a search. And if there is a channel that I want to keep my eye on, I may subscribe. My subscriptions generally cover travel/cruising (Tips for Trav...

GerryL

Follow your plan.
You DO have a plan, don't you?
Is there anything in your plan about moving to cash?
Follow your plan.

GerryL

A couple of years before I planned to retire, I had a Vanguard CFP evaluate how well my portfolio would do based on living to 100 and a specified spend in the starting year (to increase for inflation annually). Best case scenario, my portfolio would be much larger when I died. Worst case scenario, I...

GerryL

Having gone through several transitions, although none quite like the one you describe, here is my suggestion: Keep your hand in by scheduling some time each week to network and do ongoing research in your industry. Make it a part-time job. As you know, the world will not stand still while you take ...

GerryL

Another resource to look at is the book How to Make Your Money Last: The Indispensable Retirement Guide by Jane Bryant Quinn. Look for the most recent version.

GerryL

at 85? I wouldn't care - that sounds like a long-lived life. Sorry, I'm 86 and I care and I haven't changed a heck of a lot on likes and dislikes and wants and needs. I bought a new car last December and a new AC and Furnace this summer and other stuff. I still eat and drink (plus eat in restaurant...

GerryL

If I take cashback as cash -- e.g., Costco Visa annual cashback -- I just set it aside for gradually putting in my wallet and don't even enter it into Quicken. The amounts are not so significant that I feel a need to track it as income. If something comes into an account as a credit, I categorize it...

GerryL

I would hope that I notice that I am in danger of running out long before I actually run out. This is the real answer. I would take some serious steps before completely running out of funds. Gill Few people suddenly wake up and realize they have run out of money, but there are, sadly, instances of ...

GerryL

So, no more Flagship level? I have noticed that the descriptions of their different levels have become rather wishy-washy. My Flagship rep disappeared "temporarily" almost 2 years ago. In the past I have had a VG CFP run my plan to see how it held up at a specified spend level. So, is this...

GerryL

mrsmith, My "technique": I have 3 accounts w/ Vanguard IRA, Roth IRA and taxable (i.e., not tax-advantaged for retirement). That last, which is in a balanced index fund, is where I put extra $$ for long-term growth. For years, while I was working, I had dividends set to auto-reinvest and j...

GerryL

Can anyone answer this. For the Vanguard automatic RMD service, can they take the RMD from any mutual fund or ETF in your account, or only from Vanguard mutual funds? Gary, I don't know the answer to your question, but you could always move the amount of your RMD from various funds in the IRA into ...

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