Search found 13169 matches

by The Wizard
Tue Apr 30, 2019 10:16 am
Forum: Personal Consumer Issues
Topic: Another Advantage of Being a Boglehead
Replies: 27
Views: 2728

Re: Another Advantage of Being a Boglehead

I don't think there's any real price break on anything just because you or your car or whatever look a bit old or ramshackle.

I suppose one could go to a food bank or similar charitable places and get free stuff, but that would be sort of fraudulent, I think.

I'm just happy to get senior discounts on certain things, based solely on my age, not my financial status...
by The Wizard
Tue Apr 30, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Rolled over and melting down
Replies: 72
Views: 8497

Re: Rolled over and melting down

One hidden benefit of moving to TIAA is that you might get access to TIAA traditional. This is one of the few annuities that's actually a really good deal and would make a solid choice for the "bond" portion of your AA. There are very few places that you can lock in a guaranteed risk-free 3.5% for life which I believe is what they are offering for new money right now... Right, mostly. When we say "annuity" here, we should clarify that it's a good one during your accumulation years, with no fees of any sort. The quoted rate, from 3.0% and up, is what you get each year. And while the guaranteed minimum in GRA and GSRA plans is 3.0%, they adjust rates depending on prevailing current conditions and the year you contributed ...
by The Wizard
Tue Apr 30, 2019 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Rolled over and melting down
Replies: 72
Views: 8497

Re: Rolled over and melting down

One hidden benefit of moving to TIAA is that you might get access to TIAA traditional. This is one of the few annuities that's actually a really good deal and would make a solid choice for the "bond" portion of your AA. There are very few places that you can lock in a guaranteed risk-free 3.5% for life which I believe is what they are offering for new money right now... Right, mostly. When we say "annuity" here, we should clarify that it's a good one during your accumulation years, with no fees of any sort. The quoted rate, from 3.0% and up, is what you get each year. And while the guaranteed minimum in GRA and GSRA plans is 3.0%, they adjust rates depending on prevailing current conditions and the year you contributed ...
by The Wizard
Tue Apr 30, 2019 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Rolled over and melting down
Replies: 72
Views: 8497

Re: Rolled over and melting down

yohac wrote: Tue Apr 30, 2019 7:12 am I know you're kicking yourself, and you're right, TIAA's mutual funds stink...
Their mutual funds DON'T necessarily stink, but it depends on exactly what's available in your employer's plan.

In my plan, for instance, I have access to certain Institutional class mutual funds, such as TISPX, their S&P 500 index fund with 0.05% ER, not quite as low as Vanguard's VFIAX but not stinky either.
And I also have access to Vanguard's midcap and small cap index funds, VIMAX and VSMAX...
by The Wizard
Tue Apr 30, 2019 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Rolled over and melting down
Replies: 72
Views: 8497

Re: Rolled over and melting down

A 403(b) employer plan with TIAA will generally have lower expense ratios than an IRA with them. But it depends on the size of your employer.

If possible, OP should tell us which funds are available in her 403(b) plan. One needs to be an informed consumer in this area.
"Ignorance is bliss" isn't the best approach...
by The Wizard
Sun Apr 28, 2019 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions at age 70?
Replies: 12
Views: 1221

Re: Roth conversions at age 70?

jebmke wrote: Sun Apr 28, 2019 5:44 pm If I were turning 70 1/2 this year I would put off any decisions about any distributions as late as possible. That doesn't preclude planning, though.
Please explain.
I turn 70.5 next year and will be setting up equal monthly withdrawals from my tax-deferred account in early January...
by The Wizard
Sun Apr 28, 2019 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions at age 70?
Replies: 12
Views: 1221

Re: Roth conversions at age 70?

Another thing to remember is:
RMDs are simply the government's implementation of the 4% SWR concept.

That couple should be happy they have decent retirement income and plot a strategy to enjoy their retirement years with it...
by The Wizard
Sun Apr 28, 2019 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions at age 70?
Replies: 12
Views: 1221

Re: Roth conversions at age 70?

Rob5TCP wrote: Sun Apr 28, 2019 5:20 pm ASAIK, Conversions can only be done AFTER RMD are taken...
That is correct.
OP seems to be saying: use the $75k in RMDs to pay additional taxes on $300k+ in Roth conversions.
I think that's way overkill.
Better to use that $75k to fund extensive leisure travel for the year...
by The Wizard
Sun Apr 28, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions at age 70?
Replies: 12
Views: 1221

Re: Roth conversions at age 70?

Depends.
Main reason for couples after age 70 is increased taxation for the survivor after the first one passes.

With AGI of .85*$50k + $75k RMD + $20k dividends, I'd be surprised if they are in the 24% bracket to start.
I might do modest Roth conversions after age 70 but would not overdo it.
Deferring taxes still is advantageous...
by The Wizard
Sun Apr 28, 2019 11:29 am
Forum: Personal Investments
Topic: Why buy period certain annuity?
Replies: 13
Views: 1660

Re: Why buy period certain annuity?

A period certain annuity for five years pays you 20.xx% of your principal amount each year, where the xx fraction is small due to low interest rates nowadays.
If you're willing to take a bit of risk, you might be able to beat this payout rate by doing it yourself.

I have no interest in period certain annuities. There are no mortality credits with them...
by The Wizard
Sun Apr 28, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Calculating SS Benefit after Reaching FRA?
Replies: 5
Views: 1042

Re: Calculating SS Benefit after Reaching FRA?

:Yes, it's pretty simple to do this once you know your PIA...
by The Wizard
Sat Apr 27, 2019 7:41 pm
Forum: Personal Consumer Issues
Topic: Tequila and Magaritas
Replies: 138
Views: 21309

Re: Tequila and Magaritas

Tamarind wrote: Sat Apr 27, 2019 7:33 pm If you want a polite but not excessively pricy margarita, get a silver tequila (the clear stuff). The Jose Cuervo is a fine starting point for someone who doesn't know tequila. Don't buy orange liqueur, use fresh oranges and limes instead to produced a drink that's better and cheaper.
Possible problem with this is that you need something to provide a LITTLE sweetness.
That's where triple sec helps, see?
by The Wizard
Sat Apr 27, 2019 7:21 pm
Forum: Personal Investments
Topic: Why buy period certain annuity?
Replies: 13
Views: 1660

Re: Why buy period certain annuity?

Good point and I agree with you.
I purchased a goodly amount of lifetime annuities from TIAA at the start of my retirement in 2013, age 63. These were a combination of fixed and variable immediate annuities to allow for growth to combat inflation.

For the seven year gap from age 63 to 70 and the start of SS, I've simply been withdrawing $3000 a month from my portfolio.
Plan B in case of a Stock Market crash was to start SS earlier.
My approach has worked out swimmingly...
by The Wizard
Sat Apr 27, 2019 4:16 pm
Forum: Personal Consumer Issues
Topic: How much cash in London?
Replies: 54
Views: 4629

Re: How much cash in London?

Seasonal wrote: Sat Apr 27, 2019 1:33 pm You can use Google Pay or Apple Pay for the tube. No need anymore for an Oyster card.
So even the locals, like ValueThinker, use their smartphone to ride the Tube now?
I'll be there in July, so I need to figure how to make Google Pay work.
I assume you need cellular data service for smartphone pay apps to work, right?
by The Wizard
Sat Apr 27, 2019 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Taxes
Replies: 37
Views: 2385

Re: Taxes

masonstone wrote: Sat Apr 27, 2019 9:59 am
dbr wrote: Sat Apr 27, 2019 9:48 am Another second opinion is to prepare your own taxes using an application such as TurboTax, go through the interview items, and see how it comes out.
I wanted to see if there are ways to deduct taxable income outside of routine tax deductions that might be available to higher income individuals.
Since you're self employed, you can deduct "expenses".
But you already know that, I assume...
by The Wizard
Sat Apr 27, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: tIRA to Roth conversion question for dummies
Replies: 18
Views: 2271

Re: tIRA to Roth conversion question for dummies

It's best first to understand the pluses and minuses of contributing and holding money in each of three different accounts for a few decades:
1) a taxable investment account
2) a traditional IRA (tax-deferred) account
3) a Roth IRA account

Then understand that the backdoor Roth procedure is simply a legal workaround to contributing up to $6000 of freshly earned money to your Roth IRA for the year, no matter how high your AGI is...
by The Wizard
Fri Apr 26, 2019 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Spread Sheets [for retirement planning]
Replies: 15
Views: 3306

Re: Spread Sheets [for retirement planning]

My retirement spreadsheet is focused on projecting my Adjusted Gross Income for my first decade of retirement, from age 63 to 72, for tax management purposes. This spanned the years prior to starting divorced spouse SS at age 66 up through the first few years of age 70 SS and RMDs. I nonetheless do a more precise estimate of my AGI each December to figure how much additional Roth conversion to do with an eye on the next higher Medicare IRMAA tier. My spreadsheet is not at all concerned with my expenditures over the course of the year. Nor is it concerned with my Roth IRA balance or even my modest taxable account balance since those have zero or little impact on my income taxes. ( I really should add a row for taxable dividends to my sheet b...
by The Wizard
Thu Apr 25, 2019 9:02 pm
Forum: Personal Investments
Topic: 14 years old and looking for investment advice
Replies: 37
Views: 4591

Re: 14 years old and looking for investment advice

Hi I’m new here and looking for some advice, I am 14 years old and I have $1000 to invest and I want to turn that into $10,000, any advice would be greatly appreciated. Thank you By the time it turns into $10K you will probably be making so much money that it will be insignificant to you. Unless you speculate, in which case you stand a good chance of losing it all. I know what I will say will be considered sacrilege to many on this site, but I think you should enjoy your $1000 while you are still young enough that $1000 seems like a hell of a lot of money. Maybe put it in a CD that will mature when you graduate high school. Then use it to travel that summer or get a car or whatever. Or if there is something you love doing, like if you are ...
by The Wizard
Thu Apr 25, 2019 8:36 pm
Forum: Personal Investments
Topic: Annuity risks
Replies: 9
Views: 906

Re: Annuity risks

nisiprius wrote: Thu Apr 25, 2019 7:55 pm ...See link for more details. Company gave them a runaround and no explanation, until the press stepped in and then they magically found the annuity within a day and fixed everything...
There should be Triple Damages for insurance companies that pull stunts like this...
by The Wizard
Thu Apr 25, 2019 8:30 pm
Forum: Personal Investments
Topic: Annuity risks
Replies: 9
Views: 906

Re: Annuity risks

Buy Immediate Annuties when the time comes to start taking income, not before.
Invest your $$$ in index funds for decades prior to that...
by The Wizard
Thu Apr 25, 2019 2:09 pm
Forum: Personal Consumer Issues
Topic: Tequila and Magaritas
Replies: 138
Views: 21309

Re: Tequila and Magaritas

Lots of clueless comments so far in this thread. :D As an inhabitant of a part of the country where margaritas are a way of life .... Recipe for an high quality margarita: 1) slice a lime in half 2) wet rim of glass with lime and touch to the sal gorda (rock salt) (half rim ... full rim whatever you want) 3) squeeze all of the lime into the glass 4) put one shot of orange liqueur (I use cointreau ... triple sec is low end but fine) in the glass 5) put one shot of a good 100% agave reposado tequila in the glass (Hornitos is fine ... there are lots of good choices ... 100% agave is important) 6) put a couple of ice cubes in the glass 7) drink NO to 1) mixes (is the above that hard to do? really?) 2) syrups (do you also want to put an umbrell...
by The Wizard
Thu Apr 25, 2019 11:49 am
Forum: Personal Consumer Issues
Topic: For those who like travel, when did you retire and where are the most exciting places you travelled to?
Replies: 134
Views: 16829

Re: For those who like travel, when did you retire and where are the most exciting places you travelled to?

Cycle wrote: Wed Apr 24, 2019 12:18 pm
TheTimeLord wrote: Wed Apr 24, 2019 12:11 pm
Cycle wrote: Wed Apr 24, 2019 12:10 pm
...How is it you haven't dived Galapagos?
Isn't that fairly cold water and mostly Hammerheads?
Yes, freezing. Hood and thick wetsuit needed for below the thermocline.

Tons of massive hammerheads, turtles, sea lions, big Ray's, other sharks.

It's relatively easy to get to from the US, and no jet lag. Excluding airfare, my total ten day trip there cost $1400, 4 dive days (8 dives), 1 snorkel day. I planned the trip 12hrs before boarding the flight from Quito.
As for me, I guess Galapagos just hasn't gotten to my short list yet.
And I've generally thought of it more as an above-water excursion.
And also, I'm something of a Warm Water Wimp...
:shock:
by The Wizard
Thu Apr 25, 2019 11:18 am
Forum: Personal Investments
Topic: Google Finance Problem
Replies: 11
Views: 7427

Re: Google Finance Problem

dayzero wrote: Thu Apr 25, 2019 10:05 am VTIAX does appear to be fixed now with googlefinance().
Yes, but VIMAX is still broken.
And none of the 4-week or 13-week returns seem right.
I don't think Google cares about this functionality...
by The Wizard
Wed Apr 24, 2019 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly Estimated Tax Checks & Insufficient Funds
Replies: 15
Views: 931

Re: Quarterly Estimated Tax Checks & Insufficient Funds

To simplify things and prevent this problem from ever happening again, could you setup appropriate income tax WITHHOLDING from your paycheck?
by The Wizard
Tue Apr 23, 2019 2:25 pm
Forum: Personal Consumer Issues
Topic: At what age did you buy your first first class airplane ticket?
Replies: 112
Views: 6478

Re: At what age did you buy your first first class airplane ticket?

I have NEVER bought a first class airline ticket.
I have, however, bought a first class train ticket a few times, in Europe...
by The Wizard
Tue Apr 23, 2019 7:31 am
Forum: Personal Finance (Not Investing)
Topic: travel budget in retirement
Replies: 47
Views: 4741

Re: travel budget in retirement

Sandtrap wrote: Mon Apr 22, 2019 9:51 pm ...They are all "one time" expenses, not reoccurring...
I'm not sure about this part.
I've been traveling to some degree pretty much forever. I was limited to 3-4 weeks a year in the bad old days and now have as much time as I want, limited only by money and certain other factors.

While I could certainly "splurge" a bit in a particular year, I still try to live within (not so much Beneath) my means year to year.
I have $$$ accumulating in my taxable account as my New Vehicle Fund. So if I spent all that on an elaborate cruise, it wouldn't be my best idea...
by The Wizard
Mon Apr 22, 2019 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: travel budget in retirement
Replies: 47
Views: 4741

Re: travel budget in retirement

miamivice wrote: Mon Apr 22, 2019 8:51 pm I'm not retired and I don't know, however, when I think about it I expect we might travel a lot in the first few years of retirement. After that? Well, after you've seen the world's major attractions once, I don't know you want to keep seeing them again and again. So I would expect that the travel budget would be larger in the first couple years and then decline after that...
That's not actually how it works.
You don't go to the Eiffel Tower again and again.
Your travel horizons expand, with Cambodia this time and Madagascar next.
And so on...
by The Wizard
Mon Apr 22, 2019 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: travel budget in retirement
Replies: 47
Views: 4741

Re: travel budget in retirement

basspond wrote: Mon Apr 22, 2019 8:30 pm What is considered annual income in retirement? I look at my budgeted expenses and it is between 20-30%. It would be a lot less if I based it on my “returns”.
Only you can determine what your retirement "income" is.
You could have a $100k taxable pension.
Or the equivalent taxable portfolio with much less tax...
by The Wizard
Mon Apr 22, 2019 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: travel budget in retirement
Replies: 47
Views: 4741

Re: travel budget in retirement

An important thing that I've mentioned many times in the past is to figure what your Desired Income is in retirement, not just your pre retirement expenses.
My pre retirement expenses were less than $50k per year and my post retirement income and expeditures are quite a bit more than that.
This allows me to carry on in reasonable style for 15-20 weeks a year traveling, not just 4-5...
by The Wizard
Mon Apr 22, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: travel budget in retirement
Replies: 47
Views: 4741

Re: travel budget in retirement

Similar to others, I don't really budget travel in retirement, starting year 7 a month ago.
I did a month-long 7600 mile roadtrip in March which cost a few bucks with no problem.
I have two European trips coming up this year along with a Caribbean dive trip I need to get planned.
I keep a good sized checking account balance and use that to decide if the next trip is feasible.

I should figure sometime how much of gross retirement income I spend on travel. I'm guessing 40% or more, but it depends on how you count new vehicles...
by The Wizard
Mon Apr 22, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Is This Typical SSA Screw-up, or Cause for Alarm?
Replies: 22
Views: 2873

Re: Is This Typical SSA Screw-up, or Cause for Alarm?

Golf maniac wrote: Mon Apr 22, 2019 7:37 pm Always ask what you need to bring but it should be your birth certificate, social security card, and ID. If you were married and changed your name then your marriage certificate. I believe a detailed list is on the website. Always ask the person setting up the appointment what to bring.
I just go in to a SS office 20 minutes before it opens in the morning, no appointment.
I brought a bunch of documents when I applied for divorced spouse benefit in 2016, but not my SS card since it got wet and fell apart decades ago.

When I apply for my age 70 SS benefit later this year, I'll just take my passport and probably won't even need that.
Going in person is more fun than playing with the phone, I find...
by The Wizard
Sun Apr 21, 2019 9:26 pm
Forum: Personal Investments
Topic: What should I know before selling a mutual fund for the first time?
Replies: 17
Views: 1440

Re: What should I know before selling a mutual fund for the first time?

mhalley wrote: Sun Apr 21, 2019 9:10 pm I don’t think brokerages were required to track cost basis till 2012, but cost basis on shares bought since then should transfer. You might be able to get cost basis info from the previous brokerage../ fund co.
The basis is probably more than 3k due to dividend and capital gains reinvestment over the years.
I went through this same thing with a MF I bought back in the 1980s and held for 20 years.
The fund company was able to reconstruct my distributions for me.
But I didn't transfer it in kind to a new brokerage...
by The Wizard
Sun Apr 21, 2019 9:04 pm
Forum: Personal Investments
Topic: What should I know before selling a mutual fund for the first time?
Replies: 17
Views: 1440

Re: What should I know before selling a mutual fund for the first time?

Macro wrote: Sun Apr 21, 2019 8:59 pm I just double checked on it now. So it looks like after I transferred the fund holding from American Funds to Schwab (now current brokerage), I lost the cost basis data... it now says "N/A" under cost basis.

How would I calculate it?

I don't have any paper statements. In fact I have not been following it at all until I removed my mother as custodian and moved it into Schwab about a month ago.
I think you have a more difficult problem at this point...
by The Wizard
Sun Apr 21, 2019 8:17 pm
Forum: Personal Investments
Topic: What should I know before selling a mutual fund for the first time?
Replies: 17
Views: 1440

Re: What should I know before selling a mutual fund for the first time?

Macro wrote: Sun Apr 21, 2019 8:13 pm Until last week the find was held in my mother's name with me as a minor. She was the custodian.

The old account has been closed and a new one set up in my name. Holdings have been transferred.

Does it start from fresh now as it is a new account?
No...
by The Wizard
Sun Apr 21, 2019 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: When to get attorney after car accident?
Replies: 27
Views: 7803

Re: When to get attorney after car accident?

Be aware that these attorneys typically get 40% of any settlement amount.
Try to negotiate it down to 35%...
by The Wizard
Sun Apr 21, 2019 8:09 pm
Forum: Personal Investments
Topic: What should I know before selling a mutual fund for the first time?
Replies: 17
Views: 1440

Re: What should I know before selling a mutual fund for the first time?

I am not sure what the initial cost basis was but probably around 3k or so and it is now worth 23k. Does that mean I'd have to pay capital gains tax on 20k worth of earnings at my current tax rate (which is 25% or so I think)? If fund dividends or capital-gains distributions or both have been reinvested, then those additional, automatic purchases would increase the cost basis of your entire account. (And you should have been paying income tax on those dividends and capital-gains distributions.) Also, by law, whoever holds your account should have basis information for purchases in the past several years. Correct. Assuming reinvestment of distributions, you need to add them all up to figure your "basis" in this investment. This co...
by The Wizard
Sun Apr 21, 2019 7:55 pm
Forum: Personal Investments
Topic: What should I know before selling a mutual fund for the first time?
Replies: 17
Views: 1440

Re: What should I know before selling a mutual fund for the first time?

Macro wrote: Sun Apr 21, 2019 7:50 pm
whodidntante wrote: Fri Apr 19, 2019 9:03 am Taxes are the main thing. Do you have a large amount of unrealized capital gains?
I have an American Funds mutual fund that was set up by my parents probably around 20 years ago. I am not sure what the initial cost basis was but probably around 3k or so and it is now worth 23k.

Does that mean I'd have to pay capital gains tax on 20k worth of earnings at my current tax rate (which is 25% or so I think)?
No.
The LTCG tax rate is likely 15% for you...
by The Wizard
Sat Apr 20, 2019 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Taking more than required RMD tax free?
Replies: 13
Views: 2091

Re: Taking more than required RMD tax free?

jimmieg wrote: Sat Apr 20, 2019 10:28 am
Yes, I like the Roth conversion and the end of year plan.

Question for the OP: do you do your own income taxes?
[/quote]

Yes, I do my own taxes via H&R Block software (and formerly TurboTax)
[/quote]

Good.
This gives you a sharper tool to use each December in planning year-end tax strategy compared to someone who pays to have relatively simple income taxes done each year...
by The Wizard
Sat Apr 20, 2019 3:03 pm
Forum: Investing - Theory, News & General
Topic: a percentage decline is MORE than that decline OF YOUR GAINS??
Replies: 29
Views: 2740

Re: a percentage decline is MORE than that decline OF YOUR GAINS??

TomCat96 wrote: Sat Apr 20, 2019 2:43 pm
...Volatility Drag, as I understood it (and I'm not saying I do) is the idea that you want to avoid volatility because of the following:

1. An X% drop cannot be remediated by an X% again, (i.e. a 50% drop needs to be remediated by a whopping 100% gain to reach parity)...
I think the point some of us are trying to make is that stock funds don't CARE about percent gains and losses.
If my stock fund loses $2.08 a share today, then it needs to gain $2.08 per share in coming days to get back to where it was.
Converting that $2.08 to a percentage of original share value is easy to do but adds NOTHING to your understanding of things...
by The Wizard
Sat Apr 20, 2019 1:36 pm
Forum: Investing - Theory, News & General
Topic: a percentage decline is MORE than that decline OF YOUR GAINS??
Replies: 29
Views: 2740

Re: a percentage decline is MORE than that decline OF YOUR GAINS??

Some naive people have been known to talk about gains as "house money".

I focus on Portfolio Value, whether tax-deferred or taxable accounts...
by The Wizard
Fri Apr 19, 2019 8:43 pm
Forum: Investing - Theory, News & General
Topic: This could be the biggest risk that retirees face?
Replies: 117
Views: 10526

Re: This could be the biggest risk that retirees face?

yousha wrote: Fri Apr 19, 2019 8:31 pm My goal is to die broke.
I'll one-up you.
My goal is both to die broke and to spend my last three years living under an interstate overpass in New Orleans.

Note: I'm lying...
by The Wizard
Fri Apr 19, 2019 8:21 pm
Forum: Personal Consumer Issues
Topic: For those who like travel, when did you retire and where are the most exciting places you travelled to?
Replies: 134
Views: 16829

Re: For those who like travel, when did you retire and where are the most exciting places you travelled to?

The title says everything. I'm not fully retired, but travel is the thing to which I want to retire. (Your financial situations may also help, if you don't mind). Good Q, I agree. I'm a SCUBA diver and for two decades prior to retirement in 2013, I did 7-10 day dive trips to the Caribbean mostly. I've continued this in retirement, with repeat visits to Bonaire, Cozumel, Curacao, the Caymans, Belize, Maui, and even Jamaica. And I've got a dive trip to Indonesia booked for 2020. I also do Road Trips in retirement, most recently for the entire month of March: 7600 miles from New England to Arizona, with multiple stops in between. I also do European adventure travel group trips in retirement, mostly involving day hikes. Three so far, to southe...
by The Wizard
Fri Apr 19, 2019 7:42 pm
Forum: Personal Consumer Issues
Topic: At what point would you hire someone vs. cut down a tree yourself?
Replies: 101
Views: 8980

Re: At what point would you hire someone vs. cut down a tree yourself?

Buy a cheap chainsaw and a polesaw. Tie it off with rope so it falls the way you want it to. I am curious how many 15" diameter trees you successfully made fall the direction you wanted by tying a rope to it? This is what I do at times on my GF's 10-acre lot. But I use a steel cable on the tree itself, along with one or two 50-foot ropes. The end of the rope(s) goes on the hitch ball on my F150 which I use to put a little tension on the line. But each tree is different depending on location and lean. These trees, mostly oak, are used for firewood. Main goal of influencing the fall direction of the tree is to get what I call a Clean Drop, where the cut tree doesn't get hung up in a neighboring tree. But there are limits on how accurate...
by The Wizard
Fri Apr 19, 2019 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Taking more than required RMD tax free?
Replies: 13
Views: 2091

Re: Taking more than required RMD tax free?

krow36 wrote: Fri Apr 19, 2019 6:23 pm Are you receiving social security? If so, is any of it taxed? Do you have any income from taxable accounts? If you really have no significant income except for IRA and 403b RMDs, then you have several choices. I think I would prefer converting some tIRA to Roth IRA rather than moving tIRA to taxable. But either would be a good move. You might wait until towards the end of the year, in case you need to make an unexpected distribution during the year?
Yes, I like the Roth conversion and the end of year plan.

Question for the OP: do you do your own income taxes?
by The Wizard
Fri Apr 19, 2019 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Taking more than required RMD tax free?
Replies: 13
Views: 2091

Re: Taking more than required RMD tax free?

If you're 72, then most income streams should be active.
It is indeed possible to owe no income tax; a good percentage of low income folks are in this situation, apparently.

And there's no downside to taking funds out of tax-deferred if tax rate is zero...
by The Wizard
Fri Apr 19, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: What is the Magic Formula for when One can RETIRE ?
Replies: 30
Views: 6159

Re: What is the Magic Formula for when One can RETIRE ?

MrLazyButt wrote: Fri Apr 19, 2019 3:59 pm Is it as simple as when money from investments every month (stocks, real estate, whatever) is greater than one's expenses ?
No.
Because your expenses in retirement could be quite different (higher) than in pre-retirement.
You need to come up with a Desired Retirement Income and then figure out the income streams to achieve it...
by The Wizard
Fri Apr 19, 2019 12:42 am
Forum: Personal Investments
Topic: Thinking about selling stocks near all time highs
Replies: 98
Views: 11382

Re: Thinking about selling stocks near all time highs

We haven't recovered to new all-time high yet on any of the three major US indices...
by The Wizard
Thu Apr 18, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 77
Views: 6773

Re: When did you start spending more and saving less?

Ron wrote: Thu Apr 18, 2019 2:39 pm
Tycoon wrote: Thu Apr 18, 2019 2:29 pm The day after I retired.
Same here.

- Ron
Same for me.
I was able to max out my retirement account contributions for a number of years after my youngest graduated college.
But I continued my reasonable travel regimen for those last full time working years.

But once I retired in 2013, wham! The stops came out and I've been spending a lot more on travel...
by The Wizard
Thu Apr 18, 2019 3:33 pm
Forum: Personal Consumer Issues
Topic: Bogleheads privacy warning
Replies: 61
Views: 6574

Re: Bogleheads privacy warning

22twain wrote: Thu Apr 18, 2019 6:55 am
yangtui wrote: Wed Apr 17, 2019 8:02 pm This is why people shouldn't use their real name as their handle.
Or a username / handle that they use on another forum or elsewhere on the net. Unless they're a public figure whose financial information is already out there.
So what about "our" public figures, like Taylor, Mel, Rick, Larry, Bill, and others?
Are they under rather constant SIEGE by assorted wrongdoers?
Or are paranoid forum members making this non problem appear to be significant?
by The Wizard
Thu Apr 18, 2019 2:23 pm
Forum: Personal Investments
Topic: Where to hold 2-3 years of living expenses
Replies: 28
Views: 6526

Re: Where to hold 2-3 years of living expenses

ruralavalon wrote: Wed Apr 17, 2019 5:44 pm ...I think it's better not to have a cash allocation or a large multi-year "emergency fund", we don't do either.
I tend to agree with RA.
I've been retired since 2013 and the bulk of my income comes from immediate annuities and a bit from divorced spouse SS.
I keep no more than $10,000 in my checking account and have no savings account, CDs, or MM funds.
Excess income gets reinvested in stock index funds in my taxable account.

I suppose if the bulk of your income comes from portfolio withdrawals AND you're doing 4% withdrawal rate then you may have more to worry about.
But I'm still not a bucket fan...