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Norman Tweed

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  • My Transition To Required Minimum Distributions (RMDs) [View article]
    as10675--My Social Security and that of my wife are taxed at 85% of the benefits.
    Mar 12 04:03 AM | 1 Like Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    NV_Gary--I have the following which should help:

    http://tinyurl.com/b35...

    I am taking it as soon as possible in the year I turn 70.5 and my wife will do the same thing. It appears to me that my first balance will be on December 31 of my 70th birthday year. My wife could possibly do what you suggest, however we want the tax paid as soon as possible each year and have December 31 as our deadline. You should contact your brokerage to determine how they will do it.
    Mar 12 03:59 AM | 1 Like Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    tony8900--Thanks for this comment. As time goes by the RMDs get larger and larger. It appears that I, too will move up a bracket now and maybe another one in the future.
    Mar 11 06:36 PM | 1 Like Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Horseshoer for your comments and endorsement of MLPs. I only have LNCO, but it looks like the whole lot of them are on sale!
    Mar 11 06:33 PM | Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Miz for your comments. You know why yes dear is the correct answer!
    Mar 11 06:24 PM | 3 Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Igadwah for your comments and experiences. I thought there were other consequences to the higher tax bracket that the distributions bring us up to. I hadn't thought of the Social Security that both I and my wife get. We, too pay on a reduced amount of that.
    Mar 11 04:08 PM | 1 Like Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Jerry Durham for your comments and question. I have found 2 articles which shed some light on this:

    http://tinyurl.com/ksq...

    http://tinyurl.com/kwp...

    It is my opinion that your source of funds for paying tax can be any funds outside the IRA. If you use the IRA for the tax funds, there will be additional tax if you spent the entire transfer.
    Mar 11 03:32 PM | 1 Like Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Tradevestor,

    I did that and stopped the drip.
    Mar 11 03:04 PM | Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks dnfoxy and La Marque for this information on in kind transfers. I'm glad that Vanguard has them. This could solve one of my problems--how to maintain my positions in CMCSA and LNCO as well as other stocks when moving them from the IRA to the regular account.
    Mar 11 02:02 PM | 3 Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks mr_dinky_dot_bomb for your comments.

    Good luck to you, too!
    Mar 11 12:56 PM | Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    sewolla,

    I was in your shoes (it seems like only yesterday) and I had extended family expenses which prohibited me from moving the money to a Roth and paying the taxes then. I chose not to buy a Roth. The first year of RMDs is only about 3.6% total. It goes up from there per the government's table. I wouldn't pay additional tax until you are forced to, especially with other family obligations. The RMDs will help cover expenses when you take them.
    Mar 11 12:56 PM | 2 Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    NSMMP--Thanks for your comments and question. Each year the RMDs increase after you start taking them. I keep mREITs in the IRA because they can be tax advantaged there. However, I am already moving LNCO to the regular account, even though it is high yield, due to its return of capital provisions. I could cover my first RMDs with the dividends from the mREITs, but taking them out to pay the tax increases the amount of tax I have to pay. For this reason, I am trying to get the additional taxes caused by the RMDs paid out of the regular account with high yield stocks that are inherently tax advantaged, like LNCO. Eventually, I will have to remove all stocks from the IRA as the minimum required distribution increases. It comes down to "How long are you going to live?" I will continue to to invest in higher growth dividend growth stocks in the IRA such as CMCSA and ROST as long as possible to try to keep the overall portfolio up in value.
    Mar 11 12:51 PM | Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Be Here Now for these comments. I hadn't thought of the leverage on the outside of the stock. However, I have followed MORL for a while. There is increased risk in these leverage ETFs.
    Mar 11 12:42 PM | Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks Marty941 for your comments. I like your idea of PSEC, however this brings up another political situation. My wife does not like finance, stocks, bonds etc. She only counts money in her checking account as real assets. If that balance gets too low in her estimation, I get the bag lady speech. I have found through 47 years of marriage that "yes dear" is the only answer!
    Mar 11 12:36 PM | 16 Likes Like |Link to Comment
  • My Transition To Required Minimum Distributions (RMDs) [View article]
    Thanks djean for the advice. This topic is tricky. The potential heirs get upset when they find out that they have been left out. The more folks in your extended family, the more tricky it becomes. I discussed this long and hard with my wife and she was very upset for years. I have done what you suggest, but I constantly hear the "bag lady" speech.
    Mar 11 11:24 AM | 2 Likes Like |Link to Comment
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