# Retirement Portfolio Discussion **URL:** \ **Category:** In My Humble Opinion\ **Created:** [December 22, 2023, 9:06pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009 "2023-12-22T21:06:15Z")\ **Posts on this page:** 9\ **Page:** 4
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [March 13, 2024, 12:33pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/62 "2024-03-13T12:33:40Z")
Do you have someone do your taxes? If do, are they a CPA? Ask them, and if they don’t do that, ask for a referral. Finding a good fee-based advisor may just be a lesson in networking. ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [March 13, 2024, 5:13pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/63 "2024-03-13T17:13:10Z")
> [@Munch](#): > > And if you go online to look at your portfolio, each security has a “purchase history” option so you can see every lot of that security you have acquired, along with that specific lot’s gain/loss. Got it, and thanks to you and @Mighty_Mouse. ---
**Author:** ![Mighty\_Mouse](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mighty_mouse/32/7776_2.png) [@Mighty\_Mouse](https://boards.straightdope.com/u/Mighty_Mouse)\ **Post date:** [March 14, 2024, 12:26am UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/64 "2024-03-14T00:26:48Z")
> [@OldOlds](#): > > -I too have had trouble finding a fee for service advisor. I just want someone to review what I have and make allocation / risk suggestions. I simply haven’t been able to bring myself to give control AND 1% of it all to someone else. Problem is that 99.9% of people aren’t willing pay $1000 for a couple hours of time. So this isn’t a viable practice. Because if you’re charging by the hour and only billing two hours a year per client, you have to spend 75% of your time finding clients, and 15% on prep and follow-up. So you need to bill $500/hour to make a living at it. ---
**Author:** ![OldOlds](https://avatars.discourse-cdn.com/v4/letter/o/a3d4f5/32.png) [@OldOlds](https://boards.straightdope.com/u/OldOlds)\ **Post date:** [March 14, 2024, 1:31pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/65 "2024-03-14T13:31:25Z")
That’s fair, but I’d happily pay $1500/yr for a portfolio review and chat. That’s still far less than 1% ---
**Author:** ![Munch](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/munch/32/5281_2.png) [@Munch](https://boards.straightdope.com/u/Munch)\ **Post date:** [March 14, 2024, 2:10pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/66 "2024-03-14T14:10:26Z")
What city are you in? ---
**Author:** ![OldOlds](https://avatars.discourse-cdn.com/v4/letter/o/a3d4f5/32.png) [@OldOlds](https://boards.straightdope.com/u/OldOlds)\ **Post date:** [March 14, 2024, 2:57pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/67 "2024-03-14T14:57:33Z")
Just outside Boston ---
**Author:** ![Dag\_Otto](https://avatars.discourse-cdn.com/v4/letter/d/439d5e/32.png) [@Dag\_Otto](https://boards.straightdope.com/u/Dag_Otto)\ **Post date:** [March 14, 2024, 9:20pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/68 "2024-03-14T21:20:39Z")
> [@Tatterdemalion](#): > > Yes, its reported somewhere. The brokers are required to keep track of the cost basis of your investments. When you sell the funds or securities the cost basis is reported to the IRS. This is true for investments made after Jan 1st, 2011. Prior to this, brokerages did not need to track your basis. I had proceeds from the sale of 1/2 of a share last year (a fractional share due to a three for two split). My 1099-B reported a basis of $0. I acquired the stock in 2007. Luckily I do have the paper documents so I can calculate the basis of $1.60 per share, or 80 cents for the half share. That’s 80 cents that won’t be taxed at 15%. Saving me 12 cents on my taxes this year, but eventually about $1,200 when I sell everything. [https://support.wealthfront.com/hc/en-us/articles/115004057826-With-regard-to-cost-basis-what-is-the-difference-between-covered-and-noncovered-securities#:~:text=If%20you%20do%20not%20report,in%20a%20higher%20tax%20liability](https://support.wealthfront.com/hc/en-us/articles/115004057826-With-regard-to-cost-basis-what-is-the-difference-between-covered-and-noncovered-securities#:~:text=If%20you%20do%20not%20report,in%20a%20higher%20tax%20liability). ---
**Author:** ![SlipperyPete](https://avatars.discourse-cdn.com/v4/letter/s/ba9def/32.png) [@SlipperyPete](https://boards.straightdope.com/u/SlipperyPete)\ **Post date:** [March 15, 2024, 8:59pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/69 "2024-03-15T20:59:40Z")
I’ve got a ways to go until retirement, but it seems to be it would always be beneficial to convert as much as you can from your traditional IRA to a Roth IRA, up to the limit of your current tax bracket. Let’s say you made $70k in distributions and social security in your 1st year of retirement. For a married couple, you can go up to $89,450 and still pay the same 12% marginal income tax. Your best move then is to withdraw $19,450 and convert that to a Roth. Take the 12% out of the withdrawal amount, so there’s no concern about affording the tax hit, then deposit the remaining $17k into your Roth IRA. When you eventually withdraw that $17k plus earnings, you could be in a higher tax bracket and it won’t matter, it will be tax free. If you didn’t convert it, then the full $19,450 would gain interest in your account. But if you push yourself into a higher bracket by drawing more of your funds later, there’s less concern because its all tax free, the principal and your interest earnings. ---
**Author:** ![Railer13](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/railer13/32/9742_2.png) [@Railer13](https://boards.straightdope.com/u/Railer13)\ **Post date:** [March 15, 2024, 9:31pm UTC](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009/70 "2024-03-15T21:31:20Z")
> [@SlipperyPete](#): > > But if you push yourself into a higher bracket by drawing more of your funds later, Only the income above the $89,450 figure is subject to the higher tax bracket. You won’t subject all of your income to the higher tax rate by exceeding the $89k amount. [Previous page](https://boards.straightdope.com/t/retirement-portfolio-discussion/995009.md?page=3)