Recent content by Refresher

If you were already taking SS and you knew your other incomes which calculator would you use to run various scenarios? ie. SS is 24,000 per yer, pension is 6,000, rental income 6,000 How would you figure how much to convert to Roth if any at all. I've seen a calculator Smart Asset looking for...

Everyday what your stuff is valued at can be converted to real money. If you $20 stock is now $15 you lost $5 whether you sell it or hold it. Selling is only a tax consequence the money is the same as having $15 in your wallet. My perception.

I don't get this. Whats the difference if you sold equities in a down market (even if it is at a loss) or used the cash you never used to buy the in the first place. Its all the same money.

Vanguard has an annuity where you deposit x amount and invest it in the funds offered or even money market. The ongoing balance reflects the performance. Is this asset protected before you annuitize and take a monthly check? Seems like a good way to protect money like a Roth IRA.

? Maybe but that's a different issue. The point is you appeared to have $1m the lawsuit takes everything you appear to have but in reality you never had that much due to taxes generated by the sale of the portfolio

If your single an don't need it why take it now? It's highly unlikely but something can happen to your current portfolio. If you wait you will have a bigger check. If you leave this world earlier than breakeven age Is the money really important anymore?

If an estate leaves 100k in face value ibonds currently worth 150k where an inheritance tax is due, the tax is due on 150K. If the estate liquidated them the day before and paid the tax it may be worth 140k which is the real worth of the estate.

WOW;) The deal is if a person has that hypothetical $1m portfolio and looses a lawsuit (post #8) he really doesn't have $1m to deliver. His case should be I can liquidate pay the IRS and that's what I have left. Not sure how the courts would see it but that's all he has without incurring a big...

Actually we do know the rate. If you had to raise all the money you can today you would sell everything to get a cash figure. Your tax is determined by this years bracket on all taxable money. That tax due needs to sent to the IRS and whats left from the proceeds of all sales is what you have...

Been hearing alot about the new Iphone 8 it will probably cost a ton. I currently use a 6plus. Seems like the Samsung's are even more popular as many people say they prefer the Android system. What phone do you use or do you recommend? Just curious.

LV seems real. On any given day the current value of everything you own minus any expenses including taxes owed on that amount is what you have.

Interesting, if you have that hypothecial $1m and lost a lawsuit for $1m you woud need to sell everthing and turn over the money. At tax time you would report the 401k/IRA withdrawals and the gains from the regular account. You would owe the IRS wouldnt you?

OK I get the formula but if for whatever reason in this situation if you had to come up with $1 mill today you would be in debt over 100k.

Probably numerous ways to figure out how much money you have but do you think calculating future taxes due is most realistic to get today's NW number. If 50% of 1 mill is in 401k/IRA and 20% is unrealistic cap gains in a regular account Do you really have $1 mill. Do you guys figure this way?

If you make a profit its a gain at you cap gain rate. 28% is max rate.