Year end financials

[iris lilies]

My finances are pretty much on auto pilot, but I did make a few end of the year adjustments. I moved my main bank CD from 90 day duration to 180 and am now actually getting 2% interest. The first time in a long time when I've had capitol losses on a mutual fund or two and used those to offset some long term gains that had been building up for a long time. And moved a small amount of short term bond funds to intermediate. I've pretty much still kept to my same conservative mix of fixed vs equities. It didn't seem like there was much to rebalance between them.

We worked with our CPA and investment guys to try to offset this HUGE fkng tax hit referenced above, but we didn’t have much in losses.

A first world problem for sure. Now I am trying to be philosophical about it.

[iris lilies]

This reminds me of a question I have for anyone with a trust:

Has your bank asked for your trust document? One of our banks said their auditor wants a copy of our trust document. It is 30 some pages and I think that is kinda dumb.

[sweetana3]

I might reply with a question on why they need it. Does their trust dept handle trust issues for you? I dont think my Dad filed his trust documents with his bank. Thank god we found them.

[sweetana3]

Iris Lilies, they just raised the age from 72 to 73. In the latest signed bill.

Generally, a RMD is calculated for each account by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that the IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).Sep 23, 2022

[iris lilies]

Iris Lilies, they just raised the age from 72 to 73. In the latest signed bill.

Generally, a RMD is calculated for each account by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that the IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).Sep 23, 2022

oh! Did not know that. Well now I wonder if I will ever have to take money out of my IRA because ?i might be dead before that requirement kicks in.

I did find this calculator

https://www.aarp.org/work/retirement...9&gclsrc=3p.ds

[beckyliz]

This reminds me of a question I have for anyone with a trust:

Has your bank asked for your trust document? One of our banks said their auditor wants a copy of our trust document. It is 30 some pages and I think that is kinda dumb.

My bank is named as successor trustee, so they have a copy in the trust department. The bank also has my mortgage which is titled in my trust, so they needed a copy to make sure I as trustee (or any successor) has the right to buy real estate, etc.