Search found 2389 matches

by Eagle33
Sun Apr 02, 2023 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Child tax with $726 income
Replies: 12
Views: 1216

Re: Child tax with $726 income

You have an excellent opportunity here. With a $726 income, your child is now eligible for a Roth IRA. You can contribute the full $726 into a Roth. More than likely, you will need to fund this for your child, but what better way to pay-it-forward to your child? Be sure to save the income documentation should there ever be any questions (low risk item, but still keep'em). I fund Roth's annually for both my dependent children. This gift will be remembered well after my departure from this life (hopefully, many years from now). :beer Yes, I asked him to contribute every penny into his Roth IRA. He got the same amount from me for his spending though :oops: Another way would be to 100% MATCH your child's $363 contribution. Skin in the game and...
by Eagle33
Sun Apr 02, 2023 12:11 am
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 7
Views: 1509

Re: Portfolio Review Request

TheMusicNeverStopped wrote: Fri Mar 31, 2023 12:08 pm Annual Contributions
$16,000 his 401k + 4% match
$30,000 her 401k + 2% match
$6,500 his Roth IRA
$6,500 her Roth IRA
Why not contributing $7500/each to your Roth IRAs? You are both are over 50.
by Eagle33
Sat Apr 01, 2023 8:37 pm
Forum: Investing - Theory, News & General
Topic: "Vanguard Retirement Nest Egg Calculator"
Replies: 30
Views: 12318

Re: "Vanguard Retirement Nest Egg Calculator"

duffer wrote: Fri Mar 31, 2023 7:14 pm Does this calculator report in constant dollars or in inflation-depreciated-dollars?
Per the Explain this Chart description after running the simulation:
"For each year of each simulation, we randomly select one year of stock, bond, and cash returns from our database. Using those values, we calculate what would happen to your savings - subtracting your spending, adjusting for inflation, and adding your investment return. We repeat this process, one year at a time, until the end of your retirement or until your savings are exhausted. The next simulation starts the whole process from the beginning."
by Eagle33
Mon Mar 27, 2023 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: income tax formula from total taxable income
Replies: 20
Views: 2261

Re: income tax formula from total tax

dbr wrote: Mon Mar 27, 2023 7:39 am
thor111 wrote: Sun Mar 26, 2023 6:17 pm Why not just use https://sites.google.com/view/incometaxspreadsheet/home ? It looks much more complicated than it is. If you pull in the form for 2023, you can just populate it with info from 2022 returns to get a quick estimate on what your taxes will be. All that is needed after that is to modify the w-2 info, the 1099 info, and any other user specific forms. You could then hide any tabs that don't pertain to you to make it look less forbidding. This spreadsheet has been very accurate in past years. I don't know why anyone would want to create their own. Just my opinion.
I don't recall that being available back in 2002, but maybe it was and I missed it.
Site has versions as far back as 1996 tax return.
by Eagle33
Sun Mar 26, 2023 1:34 pm
Forum: Personal Investments
Topic: Roth IRA portfolio/ advice on my investing portfolio
Replies: 11
Views: 2534

Re: Roth IRA portfolio/ advice on my investing portfolio

I would use a broad market stock index fund in the Roth IRA, but not any that you use in taxable or the 401k. I understand not the same fund as in taxable accounts (avoid wash sales), but why the Roth IRA restriction to not allow the same as funds in 401k? There’s no consensus about on this forum about whether 401ks are part of the wash sale rule. I think it’s really easy to sidestep that potential issue by using different funds in taxable than any other accounts. Sorry for the unclear question. If my tax-deferred accounts are currently say 2.5x larger than our Roth accounts, why would one only include VTSAX Total Stock Market Index Admiral fund in their Roth accounts and not some also in their tax-deferred account to maintain a 50% stock/...
by Eagle33
Sat Mar 25, 2023 5:20 pm
Forum: Personal Investments
Topic: Roth IRA portfolio/ advice on my investing portfolio
Replies: 11
Views: 2534

Re: Roth IRA portfolio/ advice on my investing portfolio

I would use a broad market stock index fund in the Roth IRA, but not any that you use in taxable or the 401k. I understand not the same fund as in taxable accounts (avoid wash sales), but why the Roth IRA restriction to not allow the same as funds in 401k? There’s no consensus about on this forum about whether 401ks are part of the wash sale rule. I think it’s really easy to sidestep that potential issue by using different funds in taxable than any other accounts. Sorry for the unclear question. If my tax-deferred accounts are currently say 2.5x larger than our Roth accounts, why would one only include VTSAX Total Stock Market Index Admiral fund in their Roth accounts and not some also in their tax-deferred account to maintain a 50% stock/...
by Eagle33
Sat Mar 25, 2023 3:57 pm
Forum: Personal Investments
Topic: Roth IRA portfolio/ advice on my investing portfolio
Replies: 11
Views: 2534

Re: Roth IRA portfolio/ advice on my investing portfolio

tashnewbie wrote: Fri Mar 24, 2023 7:35 am I would use a broad market stock index fund in the Roth IRA, but not any that you use in taxable or the 401k.
I understand not the same fund as in taxable accounts (avoid wash sales), but why the Roth IRA restriction to not allow the same as funds in 401k?
by Eagle33
Sat Mar 25, 2023 3:51 pm
Forum: Personal Investments
Topic: How to transfer a rollover IRA with CDs
Replies: 5
Views: 443

Re: How to transfer a rollover IRA with CDs

Why wait until Monday to call? Doesn't Fidelity have 24/7 customer support?
by Eagle33
Wed Mar 22, 2023 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: SSA Can't Provide Estimates
Replies: 8
Views: 1131

Re: SSA Can't Provide Estimates

If you have access to your complete earnings history on the SSA site, then copy and paste that data into the ssa.tools site to calculate your SS benefits.
by Eagle33
Sat Mar 18, 2023 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Secure 2.0 catch-up Roth 401K
Replies: 73
Views: 8644

Re: Secure 2.0 catch-up Roth 401K

biker2035 wrote: Sat Mar 18, 2023 12:53 pm I am wondering if this new Act allows the match I get into my 401K, can I direct those funds to my workplace Roth 401k instead? Currently contribute to the 401k, but in the past contributed to the Roth 401k.
Starting in 2024, not 2023.
by Eagle33
Sat Mar 18, 2023 4:18 pm
Forum: Personal Investments
Topic: Talked to Vanguard but still confused.
Replies: 32
Views: 3204

Re: Talked to Vanguard but still confused.

Spouse is now 100% Roth, so I am not rushing to change my accounts to brokerage platform until either forced to by VG, I have completed all my planned Roth conversions, or reach RMD age and am forced to transact from my mutual-fund IRA to my brokerage taxable account. I might consider changing to all brokerage sooner if VG would start allowing Ohio state tax withholding on the brokerage platform. Can you say more about your spouse being 100% Roth? I don't know anyone who has done that and have always been curious. When did you decide to do that (age-wise) and did you do it in small segments over time? I hear a lot of different opinions (beyond the obvious 0 tax benefit) about when or if it makes sense. Would love to hear your viewpoint. bt...
by Eagle33
Sat Mar 18, 2023 2:57 pm
Forum: Personal Investments
Topic: Talked to Vanguard but still confused.
Replies: 32
Views: 3204

Re: Talked to Vanguard but still confused.

Vanguard has a tutorial on how to buy a bond. https://support.vanguard.com/tutorials/buy-bond Yes I actually watched that before trying to buy it. But I got to a dead end when it said I had zero money I can use to buy it. I think (looking back) my problem was, is that I thought 'after' I converted to the brokerage account, I could buy bonds from my money market, but I couldn't. I had to first sell the money market to a settlement fund - Which made me feel like "then what is the purpose of converting all my mutual funds?" Then I sold the money market and put it in the so-called "settlement" fund, but then I couldn't find the fund. Anyway you don't need to hear my complaining. I just think their website could be simpler. ...
by Eagle33
Sat Mar 18, 2023 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal Benefit including Death?
Replies: 18
Views: 2083

Re: SS Spousal Benefit including Death?

bhwabeck3533 wrote: Sat Mar 18, 2023 5:48 am
Eagle33 wrote: Fri Mar 17, 2023 8:16 pm Your golfing buddies are correct if they were referring to SS spousal benefits, not survivor (widow/er) benefits". Spousal benefits based on a spouse's yet to be claimed benefits are zero because spouse's benefits have not started. That only leaves the survivor benefit.
OP here. What is the value of a "spousal benefit" versus a "survivor benefit"?
Your spouse only has access to the spousal benefit while you are alive and you claimed your SS benefit. Your spouse only has access to the survivor benefit after you die, irregardless if you had claimed or not claimed your SS benefit prior to death.
by Eagle33
Sat Mar 18, 2023 1:50 pm
Forum: Personal Investments
Topic: Talked to Vanguard but still confused.
Replies: 32
Views: 3204

Re: Talked to Vanguard but still confused.

Vanguard has a tutorial on how to buy a bond.
https://support.vanguard.com/tutorials/buy-bond
by Eagle33
Fri Mar 17, 2023 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: SS Spousal Benefit including Death?
Replies: 18
Views: 2083

Re: SS Spousal Benefit including Death?

Your golfing buddies are correct if they were referring to SS spousal benefits, not survivor (widow/er) benefits". Spousal benefits based on a spouse's yet to be claimed benefits are zero because spouse's benefits have not started. That only leaves the survivor benefit.
by Eagle33
Thu Mar 16, 2023 7:58 am
Forum: Personal Investments
Topic: Sell from taxable account to fully fund retirement account
Replies: 5
Views: 693

Re: Sell from taxable account to fully fund retirement account

sailaway wrote: Wed Mar 15, 2023 12:59 pm
Silk McCue wrote: Wed Mar 15, 2023 12:57 pm You basically asked the same question in 2021 regarding funding your TSP and the answer was yes. There’s nothing new here as far as I can see.

viewtopic.php?p=6313552#p6313552

Cheers
Looks like their income has gone up, making it an even better option.
Though are the same age as 2 years ago. :shock:
by Eagle33
Wed Mar 15, 2023 4:22 pm
Forum: Personal Investments
Topic: Retiring soon
Replies: 29
Views: 4882

Re: Retiring soon

Mld3 wrote: Wed Mar 15, 2023 1:20 pm Yes we got a refund of 1737 (after paying in 1755) The IRS received $18. I do not know yet what we will owe for 2022
Look at line 24 - TOTAL TAX. That line had your total tax liability for tax year 2021. From what you describe line 24 should be $18.
by Eagle33
Thu Mar 09, 2023 6:08 pm
Forum: Personal Investments
Topic: Dollar Cost Average into Roth/HSA or Lump Sum?
Replies: 19
Views: 2367

Re: Dollar Cost Average into Roth/HSA or Lump Sum?

FriedOkra wrote: Wed Mar 08, 2023 6:15 pm All bonds in tax-deferred and all stocks in taxable would keep me on edge.
Why? If before retirement you need money to spend and the market is down, you would sell stock from taxable account and sell the same amount of bonds in tax-deferred account to buy stocks in the tax-deferred account. The end result is you sold bonds and moved stocks into tax-deferred.
by Eagle33
Thu Mar 09, 2023 4:01 pm
Forum: Personal Investments
Topic: help with investing and retirement
Replies: 4
Views: 746

Re: help with investing and retirement

It appears kateH has added AA to OP.
by Eagle33
Wed Mar 08, 2023 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606: Backdoor Roth Ira Errors in Line 2 and Line 14
Replies: 9
Views: 938

Re: Form 8606: Backdoor Roth Ira Errors in Line 2 and Line 14

Per the instructions for Form 8606.
When and Where To File
File 2022 Form 8606 with your 2022 Form 1040, 1040-SR, or
1040-NR by the due date, including extensions, of your return.

If you aren’t required to file an income tax return but are
required to file Form 8606, sign Form 8606 and send it to the IRS
at the same time and place you would otherwise file Form 1040,
1040-SR, or 1040-NR. Be sure to include your address on
page 1 of the form and your signature and the date on page 2 of
the form
by Eagle33
Tue Mar 07, 2023 9:32 pm
Forum: Personal Investments
Topic: Help me advise my wife regarding windfall
Replies: 81
Views: 9292

Re: Help me advise my wife regarding windfall

Have you asked her what her mother wanted her to do with the money,assuming she & her mother had conversations during your MIL lifetime? Or what your MIL would have wanted her to do with $300k or part of it?
by Eagle33
Tue Mar 07, 2023 4:20 pm
Forum: Personal Investments
Topic: Helping Parents Invest
Replies: 13
Views: 2004

Re: Helping Parents Invest

lection wrote: Mon Mar 06, 2023 5:08 pm They don't have Roths, but we should set one up since there is some earned income, that's a great idea! Only downside I can think of is the account needs to be open for 5 years before tax-free withdrawals, but that shouldn't be an issue given their other assets.
Because they both are over 59.5 only the gains in the Roth IRA are subject to the 5-year rule. All the contributions and conversion amounts will be available immediately tax/penalty free. The order of withdrawals are first their contributions total, then their conversions total, then the earnings (gains inside the Roth) only after all the contributions & conversion amounts are withdrawn.
by Eagle33
Tue Mar 07, 2023 1:18 pm
Forum: Personal Investments
Topic: Does it make sense to convert IRA funds into a Roth during retirement ?
Replies: 13
Views: 2191

Re: Does it make sense to convert IRA funds into a Roth during retirement ?

Kumsajack wrote: Mon Mar 06, 2023 10:14 am Later, when we start SS and then RMDs, we'll still never get to $190k of income (the ceiling of our tax bracket). And, in fact, our living expenses are much lower. Which means, that there will be a gap between our income and the ceiling of our tax bracket (I'm est. at $50k/yr). So, it does seem reasonable to continue to perform Roth conversions that fill that space.
It's great your living expenses are low enough to not need the full amount of your RMDs. However, remember you will be taxed on the full RMD amount even if you don't spend it all.
by Eagle33
Sun Mar 05, 2023 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Kiddie Tax in Turbotax
Replies: 10
Views: 1220

Re: Kiddie Tax in Turbotax

Did TT create a Form 8615 for your child tax return?
by Eagle33
Sun Mar 05, 2023 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Medigap G Signup Debacle (so far)
Replies: 28
Views: 4090

Re: Medigap G Signup Debacle (so far)

UPDATE: UHC called me today to inform me I now have an AARP Medicare Supplement Plan. I was given a Member ID verbally over the phone. I then worked with some UHC website techs to get online access to the new policy which was complicated by the fact that my former company coverage was also through UHC. I could now see both plans. I can't see my ID card for the new Medigap G plan getting this error "We're sorry, we're currently unable to retrieve this information. Please wait a short time and try again." But progress, right? Glad to hear all your worrying resulted in success. Same ID card message happened to me and once I received the card in the mail it was on their system. I assumed it was added at the same time they print and m...
by Eagle33
Sun Mar 05, 2023 3:08 pm
Forum: Personal Consumer Issues
Topic: paid medical provider then see Medicare paid them
Replies: 26
Views: 2999

Re: paid medical provider then see Medicare paid them

Meanwhile Medicare has to spend time allocating the deductible to particular doctor visit(s). All your doctor offices have to go through your account thoroughly to look to see if you owe a deductible, then collect it, if you do. And the patient has to figure out how much each doctor/provider needs to be paid. All of this just to discourage the patient from seeking unnecessary medical care? Just deny the claim for that particular patient instead. This sound much more complicated than just being a little more patient and waiting for your EOBs from both Medicare and supplement plan before paying. I think you missed my point which was Medicare could simplify the claims process by not having a deductible. Then the doctor’s staff, patient, and M...
by Eagle33
Fri Mar 03, 2023 1:52 pm
Forum: Personal Consumer Issues
Topic: paid medical provider then see Medicare paid them
Replies: 26
Views: 2999

Re: paid medical provider then see Medicare paid them

Medicare could collect the deductible. They know what they have paid and to whom. It would eliminate any doctors office that are trying to fraud the system. They don’t bc they don’t want the work. Better for them to give another unreimbursed task to the doctors office. Better than that, Medicare should go back 5-10 years ago when there wasn't a deductible. That's when most people chose Plan F and Plan G didn't exist. I read that Medicare put the deductible there to discourage seniors from going to the doctor for a frivolous reason. "Make the patient have some skin in the game!" Actually Plan G was one of the 10 original supplement plans introduced back in the early 90's to standardized insurance offerings throughout the US. Prior...
by Eagle33
Wed Mar 01, 2023 8:24 pm
Forum: Personal Investments
Topic: use 529 or keep it as tax-advantaged space ?
Replies: 6
Views: 954

Re: use 529 or keep it as tax-advantaged space ?

vfromsd wrote: Wed Mar 01, 2023 3:51 am One thing to consider is that under the Secure Act, starting in 2024 you can convert a 529 to a Roth IRA for your child. Lifetime cap currently is $35K and annual conversion limit is $6500. There are other rules you have to follow but I think you should be okay. You could begin this conversion when your child is 18. I don't think the child has to have earned income for a 529 conversion but you want to check on that issue. Oviously the $35k lifetime cap doesn't cover the full amount you currently have in the 529, but it gives you an additional option for tax-free growth.
It is my understanding that your child must have equivalent earned income as the 529 conversion amount.
by Eagle33
Sun Feb 26, 2023 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Need help understanding 20% withholding from 401k
Replies: 8
Views: 1330

Re: Need help understanding 20% withholding from 401k

Personally I would fill out the W-4R form and enter 0% for the withholding and request the check to be made out to "Fidelity FBO Mathew1".
by Eagle33
Thu Feb 23, 2023 6:15 pm
Forum: Personal Investments
Topic: Accrued interest -Vanguard
Replies: 12
Views: 2186

Re: Accrued interest -Vanguard

Do your treasuries have a duration of longer than 1-year? If so, then you have to claim the interest accrued during the tax year.
by Eagle33
Thu Feb 23, 2023 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: 2022 contributions in 1/2023, missing 1099R?
Replies: 20
Views: 1790

Re: 2022 contributions in 1/2023, missing 1099R?

Two things you should do if you are or will be making prior year contributions each year, because the reporting error rate is much higher than for those who make current year contributions and convert those. At some point perhaps you can catch up and make current year contributions. 1) Check your IRA account about a week after making the contribution to make sure the custodian flagged it as 2022 (prior year) contribution. Sometimes the contribution can be reported as a current year contribution, but if you catch it promptly the custodian can simply correct the year, and the 5498 will be correct. 2) Make sure your tax preparer knows that you made a 2022 contribution, so he files the 2022 8606 correctly. You converted the contribution in 202...
by Eagle33
Mon Feb 20, 2023 9:18 pm
Forum: Personal Investments
Topic: Social Security bridge money
Replies: 23
Views: 4628

Re: Social Security bridge money

Scotch2023 wrote: Mon Feb 20, 2023 9:04 am Thanks for the replies. Yes, I've checked out opensocialsecurity.com ( viewtopic.php?p=5756927#p5756927 ) and it was helpful. The recommendation is for me to wait till age 70, while my spouse takes hers at 62 - I'm not sure I'll wait that long but it seems to be good insurance for me to wait at least a few years. One complicating factor (a good thing in our situation) is that my spouse has the ability/desire to work part time after 62, so she may delay a few years.
Did you enter your spouse's part time work wages in in opensocialsecurity.com advanced page?
by Eagle33
Mon Feb 20, 2023 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Working Part Time and Collecting SS
Replies: 10
Views: 1509

Re: Working Part Time and Collecting SS

Aberjona76 wrote: Mon Feb 20, 2023 8:17 am Thanks for all the replies.
I have got on opensocialsecuiity, and it recommends my wife collecting now and I to wait until 70. That's why I was asking this question about working part time in addition to collecting.
Also, her PIA is over half of mine, actually 65% of mine.

I mentioned in my original question about her working 15 hours/week. I think it will be more like 18-20 hours/week, and for this reason we have decided to wait another year and evaluate before collecting her SS.
Did you use the advanced page for opensocialsecurity and click the Still Working box and enter your wife's income?
by Eagle33
Sat Feb 18, 2023 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Hello Social Security Guru's
Replies: 13
Views: 1639

Re: Hello Social Security Guru's

You have only one year ( ) that the adjusted wage was below the 2nd bend point of SS PIA calculation. Because every dollar above the 2nd bend point gets just a 15 cent increase in PIA, less reason to replace any years wages that are already above the 2nd bend point. Better to delay claiming your SS benefit - it has a bigger impact than working longer even at the top wage.

Use ssa.tools and enter your data. Great descriptions and graphics explaining the benefits calculation.
by Eagle33
Sat Feb 18, 2023 8:36 pm
Forum: Personal Investments
Topic: Basically Starting
Replies: 47
Views: 7343

Re: Basically Starting

swylie wrote: Thu Feb 16, 2023 4:22 pm Yes, buy VTI. It's exactly the same index fund, but because it's exchange traded it doesn't have limits. Earning ratio is only .03% so about as cheap as you can get.

Again, if you're planning on using your Roth for big purchases, make sure you understand the withdrawal rules--you can only withdraw contributions (not earnings) and I believe each contribution has a 5 year rule (plus the Roth has a five year rule from when it's opened).
Agree about VTI comments.

There is no 5 year wait for withdrawal of CONTRIBUTIONS to a Roth IRA. Contribute on one day, you can withdraw your contribution once it settles. However, there is a 5-year withdrawal wait for CONVERSIONS from a tax-deferred account to Roth IRA.
by Eagle33
Sat Feb 18, 2023 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard 1099-R - did I mess up my backdoor roth?
Replies: 9
Views: 1242

Re: Vanguard 1099-R - did I mess up my backdoor roth?

Vanguard has no idea if the $6k contribution to your traditional IRA was going to be deductible or not on your taxes. Your taxes are your responsibility.
by Eagle33
Sat Feb 18, 2023 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Deductible
Replies: 50
Views: 4282

Re: Medicare Deductible

Does the high deductible Plan G-HD require one to pay the Medicare Part A deductible? It depends on your Part B out of pocket for the year prior to your Part A charges. For example, if you racked up $2,700 in Part B out of pocket during January thru June and then were hospitalized in July, your Plan G-HD will pay the Part A deductible. On the other hand, if the July hospitalization was your first health care interaction for the calendar year, Plan G-HD won't pay the Part A deductible. Doesn't the standard Plan G with it higher premiums pay the Medicare Part A deductible? Yes. Thanks. So folks that are calculating the premium delta between G and G-HD are not taking into account the Part A deductible benefit of standard Plan G in their calcu...
by Eagle33
Sat Feb 18, 2023 1:04 pm
Forum: Personal Investments
Topic: Too Late for Roth Conversions..?
Replies: 124
Views: 11578

Re: Too Late for Roth Conversions..?

Suspending Your Retirement Benefit Payments I have never done it, just read about it.

If you have been receiving SS less than 12 months, you can cancel your application - a do over. Though you will need to pay back all the benefits. Cancel your benefits application
by Eagle33
Sat Feb 18, 2023 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Deductible
Replies: 50
Views: 4282

Re: Medicare Deductible

Does the high deductible Plan G-HD require one to pay the Medicare Part A deductible? Doesn't the standard Plan G with it higher premiums pay the Medicare Part A deductible?
by Eagle33
Fri Feb 17, 2023 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard 1099-DIV box 12
Replies: 2
Views: 661

Re: Vanguard 1099-DIV box 12

Link to 2022 tax year version
https://www.vanguard.com/pdf/INBST_2023.pdf
by Eagle33
Fri Feb 17, 2023 5:14 pm
Forum: Personal Investments
Topic: Too Late for Roth Conversions..?
Replies: 124
Views: 11578

Re: Too Late for Roth Conversions..?

You may want to suspend your social security when you reach FRA to free up some low tax space for your larger Roth conversions. You don't seem to need your SS now. Restart it again at 70 after gaining some delayed credits.
by Eagle33
Wed Feb 15, 2023 7:05 pm
Forum: Investing - Theory, News & General
Topic: Converting 529 plan to Roth IRA strategy
Replies: 4
Views: 1116

Re: Converting 529 plan to Roth IRA strategy

Beefmaster wrote: Wed Feb 15, 2023 10:36 am
chemocean wrote: Tue Feb 14, 2023 7:09 pm Christine Benz on one of the Boogleheads podcasts recently said that the beneficiary still needed to satisfy the earned income requirement for a Roth contribution from a 529 plan. In an earlier post, someone asked "Is a 70 year old going to have earned income?" Plan for your daughters more likely to be plausible.
Interesting that you have to have earned income to do the conversion. I have not read that anywhere in my research. But the change is so new I doubt anyone really knows.
Also know that you can only transfer the 529 up to the annual contribution limit minus any contribution the Roth IRA owner put in themselves.
by Eagle33
Wed Feb 15, 2023 5:07 pm
Forum: Personal Investments
Topic: Early Retirement Advice
Replies: 8
Views: 2329

Re: Early Retirement Advice

fabis wrote: Tue Feb 14, 2023 9:35 pm Can you not just estimate your tax liability when you withdrawal and have Vanguard pay it directly at time of sale?
I think this is possible if the withdrawal is from a retirement account, not a taxable account.
by Eagle33
Wed Feb 15, 2023 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Spousal Benefit Question
Replies: 4
Views: 1050

Re: Social Security Spousal Benefit Question

As a general rule, a widow or widower qualifies for survivor benefits if he or she is at least 60 and had been married to the deceased for at least nine months at the time of death. See 20 C.F.R. § 404.335. The general rule is 9 months of marriage rather than 6 months. Thank you. I'll correct my post. So if I die at 55, and say we had been married at 9 nine months, is he eligible to receive survivor's benefits at 60? Or does he have to already be 60 by the time I die for it even to count at all? If he waits until he is 67 to receive survivor's benefits will he get more? I know you can retire early with social security starting at 60, but you get a reduced benefit if you do so. He would be eligible at 60 to receive a reduced survivor benefi...
by Eagle33
Mon Feb 13, 2023 6:26 pm
Forum: Investing - Theory, News & General
Topic: bonehead-level LTCG tax question
Replies: 11
Views: 1263

Re: bonehead-level LTCG tax question

Realize that your ordinary income plus your realized capital gains must be under $83,350 for 2022 to not owe any capital gains tax. Though you may have to pay some income tax on the ordinary income portion of your 2022 taxable income. Income tax rates are in parallel to capital gains rates, but the capital gains are stacked on top of the ordinary income.
by Eagle33
Sat Feb 11, 2023 5:12 pm
Forum: Non-US Investing
Topic: Helping my mother with her finances - POA & other options
Replies: 12
Views: 2007

Re: Helping my mother with her finances - POA & other options

FIL Investments (Japan) Limited
Tri-Seven Roppongi 7-7-7 Roppongi,
Minato-ku Tokyo,
Japan 106-0032
T: +81 (3) 4560 6000

https://careers.fidelityinternational.com/our-locations/fidelity-asia-and-pacific/
by Eagle33
Sat Feb 11, 2023 12:21 pm
Forum: Personal Consumer Issues
Topic: Vanguard website succumbs to "Fisher-Price" UI design
Replies: 847
Views: 116470

Re: Vanguard IT problems

VANGUARD HAS TURNED INTO AMAZON OR WORSE in terms of "hiding" the "contact us" info..... Just google "vanguard customer service number." 1 (877) 662-7447 Okay sure, but why should a Flagship customer have to go outside the website to Google in order to find out how to contact Vanguard? Doesn't that seem a bit silly? I could understand if my account totaled $384 on Robinhood or something, but I would think at the Flagship level they could at least have a prominent "How to Contact Us" on the website. They sure used to, I know that. At some point that obviously went away. I just logged into my VG account website and near the bottom of the page (yes, you will need to scroll down) is the folowing contact ...
by Eagle33
Fri Feb 10, 2023 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Appeal
Replies: 6
Views: 1503

Re: Social Security Appeal

DanVa wrote: Thu Feb 09, 2023 4:53 pm I am going to ask that they review the decision but do not know whether it is best to make that appeal online, in writing, on the phone, or in person at one of their offices. Any suggestions as to which of those is the most efficient way to clear this up as quickly as possible?
The best way to begin is follow the directions provided in
DanVa wrote: Thu Feb 09, 2023 8:27 pm Following that is the section "Do You Think We Are Wrong?"
SSA is expecting your response in the method as they described in the letters. Hold off having the elected official's office get involve until you at least made 1 attempt to resolve.