US assets: 401k USD568K (ring-fenced; actual 9 Oct 2026) · IBKR SG USD368K (redeployment candidate) · Schwab USD75K · Wells Fargo USD159,830.79 net (added 17 Jul 2026) · Social Security USD31K/yr from 2034.
⚠ Pre-existing discrepancy, not caused by today's addition: this page's prior total (USD1,211K) does not reconcile with its own listed components at the time — 401k 560K + IBKR SG 368K + Schwab 75K = USD1,003K, a gap of ~USD208K with no visible source on this page. Flagging rather than silently absorbing Wells Fargo into a corrected grand total — the USD1,211K figure needs its own reconciliation pass before any new total is trusted.
Wells Fargo (Teik-Kheong)
Confirmed via Wells Fargo app screenshot · 27 Jul 2026 (Account Summary)
Cash Accounts (4)
USD 96,706.88
≈ S$123,320.61
WellsTrade IRA ...6920
USD 63,906.37
≈ S$81,493.40 · Wells Fargo Clearing Services LLC
Credit outstanding
−USD 875.57
≈ −S$1,116.53
| Account | Balance (USD) |
|---|---|
| Jess-TK Checking ...2915 | 34,143.65 |
| Jess-TK Savings 2 ...1098 | 61,938.71 |
| WAY2SAVE Savings ...3914 | 295.24 |
| WAY2SAVE Savings ...2584 | 329.28 |
| WellsTrade IRA ...6920 (Wells Fargo Clearing Services) | 63,906.37 |
| Wells Fargo Advisors Visa Signature ...4862 (outstanding) | −875.57 |
Net Wells Fargo position: USD 159,737.68 ≈ S$203,697.49 (at page rate 1 USD = 1.2752 SGD). Change since 17 Jul snapshot: Savings 2 down ~USD860, credit card outstanding down ~USD767 (paid down), IRA up ~USD1 (FGTXX accrual).
Idle Cash — Yield Gap Identified (27 Jul 2026)
Not investment advice — factual flag only: ~USD 96,573 sits across Jess-TK Checking and Jess-TK Savings 2, both standard Wells Fargo consumer deposit products. Checking accounts pay ~0% APY; Way2Save/standard savings typically pay well under 0.5% APY absent a Relationship/Platinum tier or promo rate — this dashboard has not yet confirmed which tier applies to these two accounts.
| Option | Typical yield range | Notes |
|---|---|---|
| Leave as-is (checking/standard savings) | ~0–0.5% APY | Current state — likely near-zero real return |
| Wells Fargo Platinum Savings (relationship rate) | Variable, ask branch/app for current tier rate | Same bank, no transfer needed — rate depends on relationship tier, not published reliably |
| WellsTrade brokerage sweep / MMF (e.g. FGTXX, same fund as the IRA) | ~3.2–4.2% (52-wk range, per 17 Jul note) | Taxable outside the IRA wrapper (unlike the IRA position) — would need a taxable WellsTrade account, not the Traditional IRA |
| Short-dated T-bills (via IBKR, already in use elsewhere) | ~4–5% (varies with rate environment) | Already Prof's tool of choice for SSB/short paper on the Singapore side |
| CD (Wells Fargo is currently advertising a "Special Fixed Rate CD") | Check current advertised rate in-app | Locks funds for term; rate shown in this session's screenshot but not captured — verify before committing |
Rough uplift estimate: moving ~USD 60–90K (keeping a working float in checking) from ~0% to a conservative 4% yield ≈ USD 2,400–3,600/yr (~S$3,060–4,590/yr) — comparable in scale to the WellsTrade IRA fix already executed. Exact figure depends on how much float you want to keep liquid in checking and which vehicle you choose.
Next step is a decision, not yet executed: (1) confirm current Way2Save/Savings 2 tier and rate in-app, (2) decide how much checking float to keep untouched, (3) pick a destination (Platinum Savings vs. brokerage MMF vs. T-bill vs. CD) — then this dashboard can log the move once made. I'm not a licensed financial adviser; this is a factual comparison, not a recommendation of one option over another.
WellsTrade IRA ...6920 — Idle Cash Fix
Diagnosed 17 Jul 2026 · confirmed via Wells Fargo Advisors Q2 2026 statement (Apr 1–Jun 30, 2026), account •••• 6920
Confirmed 17 Jul 2026 (official statement, not inferred): Account type = Traditional IRA ("WFCS CUSTODIAN TRAD IRA," Tax status: Retirement). Sweep option = Bank Deposit Sweep, 0.100% APYE, Q2 2026 interest = $15.93 (Apr–Jun), estimated annual income $64.00 on $63,903.04. No RMD until age 73 (Prof is 62, per confirmed CPF payout timeline elsewhere on this dashboard) — not urgent. Withdrawals fully taxable as ordinary income when eventually taken; may also trigger US non-resident withholding given Prof's Singapore residency — a question for whenever a distribution is actually planned, not now.
✅ EXECUTED 17 Jul 2026, 12:14 PM ET:
- Bought FGTXX (Goldman Sachs FS Government Fd Class I) — $63,900.00, Reference #26198051600, $0 commission, Reinvest Dividends elected. Remaining $5.84 stays in Bank Deposit Sweep.
- Diagnosis fully confirmed against official Q2 2026 statement: was 0.100% APYE, Bank Deposit Sweep, Wells Fargo Bank N.A. (FDIC cert 3511).
- Note: FGTXX is technically the Institutional share class (normally $10M minimum) but confirmed accessible in this account via the WellsTrade fund screener's "Available in My Account" filter — broker-negotiated access, not a public retail minimum.
Expected uplift: ~USD 2,910/yr (~S$3,711/yr at page rate 1.2752), pending confirmation of FGTXX's actual net yield to this account (last seen: 52-week range 3.26%–4.20%, NAV $1.00). vs. USD 64/yr on the prior 0.10% sweep rate. Adds directly to the SGD 100–150K/yr 2032 passive income target, alongside the SRS SSB/Amundi plan on singapore.html.
401(k) Withdrawal & Filing Plan — 2026
Decided 10 Oct 2026 · independent review of the ChatGPT working note (9 Oct 2026) · planning estimates, not tax advice — confirm with a U.S. expat CPA before filing
Decision: file Married Filing Jointly for 2026 by electing to treat wife as a U.S. resident for tax purposes (IRC §6013(g)). Withdraw US$32,200 gross from Principal → estimated federal tax $0 (vs ~$1,684 if filing separately). Goal is to spend down the 401(k)s over lifetime, so withdrawals are sized to spending (US$28,500–32,200/yr), not accelerated. Principal first, then Fidelity. Social Security deferred to ~age 70.
| 2026 gross withdrawal | Joint (with election) | Separate (default) |
|---|---|---|
| US$28,500 | $0 | ~$1,240 |
| US$32,200 (chosen) | $0 | ~$1,684 |
| US$40,000 | ~$780 | ~$2,620 |
| US$50,000 | ~$1,780 | ~$3,820 |
Assumes no other 2026 taxable income. 2026 standard deduction: $32,200 joint / $16,100 separate. 10% bracket: first $24,800 of taxable income (joint) / $12,400 (separate). Head of household is not available because the children are not U.S. persons.
Withholding (Principal asks for the NET amount): 401(k) lump sums have a mandatory 20% federal withholding. To receive US$32,200 gross, enter US$25,760 net. The US$6,440 withheld comes back as a refund with the 2026 return. If California withholding still applies (10% of the federal amount, US$644), net drops to US$25,116 — updating the plan address to Singapore should stop it. California cannot tax 401(k) income of a nonresident (4 U.S.C. §114).
Checklist
- Before ~1 Dec 2026: update mailing address on both 401(k) plans to Singapore; initiate Principal distribution of US$32,200 gross (US$25,760 net); save the confirmation. Payment must land in 2026.
- Jan 2027: receive Form 1099-R from Principal.
- 2027 filing (first year, on paper): Form 1040 marked Married Filing Jointly (wife’s income $0) + a short election statement signed by both (Claude to draft) + Form W-7 to get wife’s U.S. tax ID (ITIN), with her passport (original or certified copy) or verified through an IRS Certifying Acceptance Agent. Mail together to the IRS.
- 2028 onward: e-file jointly as normal (e.g. TaxSlayer) once the ITIN is issued.
What the election means: stays in effect every year until revoked; once revoked it can never be made again for this marriage. Wife’s worldwide income becomes reportable on the joint return (currently none), her foreign accounts may need reporting if large, and both spouses are liable for the joint return’s tax.
To verify: ITIN processing time (roughly 2–3 months, unconfirmed) · whether a Certifying Acceptance Agent operates in Singapore (IRS list) · current Principal and Fidelity balances · Principal’s processing time for year-end payments.
20-Year Withdrawal & Tax Schedule — 2026 to 2046
Built 10 Oct 2026 · projection, not a forecast — every figure depends on the assumptions below · federal tax only
Headline: under joint filing, federal tax is $0 every year until Social Security starts at 70 (2034). After that it runs about $1,300–$2,800 a year, roughly 2–3% of total income, staying in the 10% bracket throughout. At this pace about US$86K is still left in 2046 (age 82), with Social Security continuing for life.
| Year | Age | Withdraw from | 401(k) gross | Social Security | Taxable income | Federal tax | Tax as % of total income | Top bracket | 401(k) balance, year-end |
|---|---|---|---|---|---|---|---|---|---|
| 2026 | 62 | Principal | $32,200 | — | $0 | $0 | 0.0% | 0% | $562,558 |
| 2027 | 63 | Principal | $33,005 | — | $0 | $0 | 0.0% | 0% | $556,031 |
| 2028 | 64 | Principal | $33,830 | — | $0 | $0 | 0.0% | 0% | $548,311 |
| 2029 | 65 | Principal | $34,676 | — | $0 | $0 | 0.0% | 0% | $539,317 |
| 2030 | 66 | Principal | $35,543 | — | $0 | $0 | 0.0% | 0% | $528,963 |
| 2031 | 67 | Principal + Fidelity | $36,431 | — | $0 | $0 | 0.0% | 0% | $517,158 |
| 2032 | 68 | Fidelity | $37,342 | — | $0 | $0 | 0.0% | 0% | $503,807 |
| 2033 | 69 | Fidelity | $38,276 | — | $0 | $0 | 0.0% | 0% | $488,807 |
| 2034 | 70 | Fidelity | $39,233 | $31,000 | $13,112 | $1,311 | 1.9% | 10% | $472,054 |
| 2035 | 71 | Fidelity | $40,213 | $31,775 | $14,225 | $1,423 | 2.0% | 10% | $453,432 |
| 2036 | 72 | Fidelity | $41,219 | $32,569 | $15,366 | $1,537 | 2.1% | 10% | $432,824 |
| 2037 | 73 | Fidelity | $42,249 | $33,384 | $16,535 | $1,653 | 2.2% | 10% | $410,104 |
| 2038 | 74 | Fidelity | $43,305 | $34,218 | $17,733 | $1,773 | 2.3% | 10% | $385,138 |
| 2039 | 75 | Fidelity | $44,388 | $35,074 | $18,962 | $1,896 | 2.4% | 10% | $357,788 |
| 2040 | 76 | Fidelity | $45,498 | $35,950 | $20,221 | $2,022 | 2.5% | 10% | $327,904 |
| 2041 | 77 | Fidelity | $46,635 | $36,849 | $21,511 | $2,151 | 2.6% | 10% | $295,333 |
| 2042 | 78 | Fidelity | $47,801 | $37,770 | $22,834 | $2,283 | 2.7% | 10% | $259,908 |
| 2043 | 79 | Fidelity | $48,996 | $38,715 | $24,190 | $2,419 | 2.8% | 10% | $221,458 |
| 2044 | 80 | Fidelity | $50,221 | $39,683 | $25,580 | $2,558 | 2.8% | 10% | $179,798 |
| 2045 | 81 | Fidelity | $51,477 | $40,675 | $27,004 | $2,700 | 2.9% | 10% | $134,738 |
| 2046 | 82 | Fidelity | $52,763 | $41,692 | $28,464 | $2,846 | 3.0% | 10% | $86,073 |
Green = first year (2026) · blue = Social Security starts (2034) · amber = required minimum distributions begin (2039, age 75); the planned withdrawal already exceeds the required minimum every year, so the minimum never forces extra tax.
How the schedule works
- Withdrawal rule: each year, withdraw an amount equal to the joint standard deduction (US$32,200 in 2026, rising 2.5% a year), so before Social Security none of it is taxed.
- Order: Principal first until it is used up (2031), then Fidelity.
- Social Security: part of it becomes taxable once the 401(k) withdrawals plus half of Social Security exceed US$32,000 (a fixed IRS threshold for joint filers). That is why tax reappears from 2034.
- Taxable income = 401(k) withdrawal + taxable part of Social Security, minus the standard deduction (plus the extra age-65 amount for you from 2029).
Assumptions — change any of these and the numbers move:
- Starting 401(k) total US$567,970 actual as of 9 Oct 2026: Principal US$168,062 + Fidelity US$399,908.
- Investment growth 5% a year; tax brackets, deduction and Social Security rise 2.5% a year.
- Social Security US$31,000/yr starting 2034, taken from your 2025 planning sheet — verify against your SSA statement.
- Joint filing every year (election made on the 2026 return); wife has no income; her age not included (an extra deduction would apply once she is 65).
- No other U.S. taxable income (interest, dividends, capital gains from IBKR/Schwab/Wells Fargo would add tax). California and Singapore tax assumed $0 — verify Singapore.
- 2026 tax rules carried forward unchanged; Congress can change them.
Full content available — see Global and Cash Flow for all charts. This page is being populated.