Bill Minter

Comments

• In preparation for executing QCD's from my Fidelity Rollover IRA when I soon reach 70 1/2 years old, I have just applied for check writing privileges. They offer this only for tIRA's and HSAs. My intent is to better control the timing and assurance that the charity has received my QCD. Check's can also be written for RMDs (when I turn 73) but the tax liability tracking implications seem more fraught using checks for this purpose. I will just let Fidelity process those through their normal on-line system. The question that arises for me is that, beginning 2025, the 1099-R's will now have an additional code ("Y") that Fidelity is supposed to indicate if the distribution was intended as a QCD. That would provide more verification when filing my taxes if I were to request Fidelity send the distribution directly to the charity-- as typically is done. But when I write a check on my tIRA account and provide it to a charity intending that it applies as a QCD, there is no paper trail with Fidelity that informs them that this distribution was used as a QCD. They can just as well assume it is a regular taxable distribution and not add the "Y" code to my 1099-R. William Perry... any perspective about this new dynamic starting in 2025?

  Post: 10 Ways to Give—Without Writing a Check

  Link to comment from November 8, 2025

• Of our total household portfolio (rollover and Roth IRA's) my spouse's (6+ years younger) accounts make up 34% and mine 66%. While I have a spreadsheet that lists each of our accounts separately (with corresponding asset allocations), I have a grand total at the bottom that is then broken down in % asset classes. When I rebalance, I just look at the grand total and then select the account(s) that I can most easily adjust to accomplish my goal. Having said that, I do take into account the most efficient asset location. For example, I recently sold some of the stock position in my rollover IRA and bought bonds to rebalance the grand total back to 60% stocks and also to increase that account's bond % so it will grow more slowly over time and thus limit my (her as survivor) RMDs-- which I will need to begin taking in four years. The assumption I make for the above is that we have named each other the beneficiary for each of our accounts, so the survivor will end up owning all of the accounts. I would welcome critique as to whether this a valid assumption.

  Post: How do Couples Rebalance with Multiple Accounts

  Link to comment from October 28, 2025

• I appreciate learning from all of the comments shared on this topic. Each appropriately reflects the commenters' beliefs, values and experiences-- all which should be respected. In my Christian faith tradition, we also consider "first-fruits giving" as an additional way to practice the spiritual disciple of gratitude. My AI friend contrasts that with tithing...... Tithing comes from the Hebrew word “ma’aser,” meaning tenth. Biblically, it refers to giving 10% of one’s income or produce to God (Leviticus 27:30–33). Historically, the tithe supported the work of the temple and Levites, and today many Christians practice it as a regular, proportional act of obedience and trust in God’s provision. It is typically ongoing—done each time income is received, such as a paycheck or harvest yield.​
  First-fruits giving originates in Old Testament agricultural practices (Exodus 23:19; Proverbs 3:9). People would offer the very first and best portion of their harvest as a sign of gratitude and dedication to God before consuming or enjoying the rest. In a modern Christian context, first-fruits giving symbolizes offering the first increase—for example, the first paycheck of a new job, a year-end bonus, or similar “first” blessings—to God in thanksgiving. It is not a set percentage but a spontaneous act of worship and gratitude, often done seasonally or on special occasions rather than regularly.​

  Post: Tithing is a mistake … for some people. 

  Link to comment from October 20, 2025

• Rick, In re: "I like to understand what the assumptions are and how conservative they are, and to see a margin of safety in the result." I have found that toggling the discount rate down even lower than the current 10-year TIPS yield has helped me feel even better about my "projected balance sheet"... especially when I have set my mortal demise at the avg. 84yr life span, and my 6.5-yr younger spouse spouse moving to SS survivor benefits, living to 100, and spending 100K/yr (today's $) in long term care for her last 20 yrs.

  Post: Funded Ratio vs Monte Carlo – Different Routes to Get to the Same Destination (or not)?

  Link to comment from May 20, 2025

• Rick, I would especially be grateful to know what your perspective is on this concept as it applies to personal finance given the experiences you have shared that have been valuable to me. My understanding that this concept is what is used in the pension and insurance industries.

  Post: Funded Ratio vs Monte Carlo – Different Routes to Get to the Same Destination (or not)?

  Link to comment from May 19, 2025

• This topic is of utmost importance to my spouse and me as we begin our transition into retirement (while each doing some part-time work for the reasons Jonathon highlighted in today's article). We are blessed knowing we are on course to meet our financial needs for the rest of our lives while also being generous to others. We have always tithed our income to our church and given it to organizations that align with our values and interests-- mostly based on our budget. Now we are at a stage where we are developing a giving plan to be incorporated into a retirement fund withdrawal strategy. This is what we are considering for our situation: 1) Apply many of the concepts we have read in Mike Piper's book, "More Than Enough--- A Brief Guide to the Questions That Arise After Realizing You Have More Than You Need" (2023). 2) Using a modified RMD annual withdrawal rate (RMD x 1.24) based on the "Safe Withdrawal Strategy" work of Dr, Wade Pfau, et al. At the beginning of each year, we will be able to calculate the amount that is "more than enough" for our budgeted spending needs and develop our giving plan for the coming year. This will include giving to our kids while we are alive. 3) I was blessed to do "moonlighting" consulting work one day a month for a local non-profit organization during my entire 33-year career. That extra pay filled in a budget gap as we raised a family on the household's one-and-a-quarter FT incomes. Now that we are empty nesters and have a secure financial future, we plan to gift back the entire income I received from them. In my faith tradition, we call this "mutual aid sharing". Keep the conversation going. The HD community likely has a lot to contribute to each other in the way of experiences on this topic--- and likely financially to society at large.

  Post: Give It Away Already

  Link to comment from January 25, 2025

• Yes, I am aware of that as I use that for one of my "above the line" business expenses. But I was questioning the accuracy of Michael1's statement inferring that you could take a distribution from your traditional IRA to use to pay your LTCI premium and not have to pay income taxes on that distribution.

  Post: Retirement Realignment

  Link to comment from January 14, 2025

• "I know LTC premiums can be paid from an IRA without paying tax on the amount,..." Assuming you are referring to a traditional IRA, that's news to me. Can you provide a source for that? I am aware you can use an annuity tax-free transfer to pay for LTCI premiums.

  Post: Retirement Realignment

  Link to comment from January 14, 2025

• Good insight, David. Though I am currently active in my Roth conversion sweet spot (two more years before taking SS at 70), I realize I might have some conversion opportunities after that. And what you suggested makes sense when looking at the bigger sphere of the financial account triad. Sounds like you view the world like Mike Piper!

  Post: An Inherited Roth IRA… Now What?

  Link to comment from January 13, 2025

• Thanks for your IRA-specific response, Michael1. I don't expect to have any specific need for those funds post-withdrawal (and at least 10 years after) so, considering some of your IRA strategies is helpful.

  Post: An Inherited Roth IRA… Now What?

  Link to comment from January 13, 2025