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Re: Should I Rollover AFunds Roth IRA to Vanguard Roth IRA?

Yes, I would move to Vanguard. You probably paid 5+% load to buy these funds, but that is a sunk cost. Are you also paying someone to "manage" these funds? Their ERs probably contain 12b-1 fees which go to someone. You could get a low-cost target retirement fund (or Life Strategy) at V . T...
by BL
Fri Jan 30, 2015 11:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Rollover AFunds Roth IRA to Vanguard Roth IRA?
Replies: 2
Views: 108

Re: Bringing up 529s to the grandparents

As a parent who has watched her children receive a lot gifts over the years I have a few thoughts. Remember that the grandparents are getting great joy out of buying/giving gifts and this is a special time for them too. Receiving unwanted gifts presents an opportunity to exercise good manners (be g...
by BL
Fri Jan 30, 2015 9:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Bringing up 529s to the grandparents
Replies: 56
Views: 2657

Re: giving money

Forbes magazine has a nice article about this:
http://www.forbes.com/sites/deborahljacobs/2014/04/09/gift-tax-returns-what-you-need-to-know/

I always go to IRS for definitive answers. Here is one:
http://www.irs.gov/instructions/i709/ch01.html#d0e201
by BL
Fri Jan 30, 2015 8:38 am
 
Forum: Investing - Help with Personal Investments
Topic: giving money
Replies: 11
Views: 411

Re: What to do with spare cash?

You can put up to $10k into I-Bonds each year; they are tied up for 1 year before you can get them out with a slight interest penalty. They pay around 1 1/2% (changing every 6 months) and you can also find CDs at that rate.
by BL
Thu Jan 29, 2015 5:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with spare cash?
Replies: 22
Views: 1867

Re: Bringing up 529s to the grandparents

My son is about two and half now... We've been extremely blessed by friends and family with hand-me-down clothes and toys, to the point where we've had to buy very little ourselves. Because of this, we've been very upfront with people when they ask what they can get our son for Christmas/Birthday/e...
by BL
Thu Jan 29, 2015 5:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bringing up 529s to the grandparents
Replies: 56
Views: 2657

Re: Retiring in 6 months - Help with Retirement Portfolio

I believe you could get low-cost one-time advice from Vanguard. Why not call and ask? At least they won't advise expensive ER funds or want 1% AUM as adviser. For free, how about asking here, following format in Asking Questions (sticky at top of Help topics)? It will also get all your information t...
by BL
Thu Jan 29, 2015 5:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring in 6 months - Help with Retirement Portfolio
Replies: 4
Views: 502

Re: Bringing up 529s to the grandparents

Why don't you buy less "stuff" and accept what the relatives give to you? That way you can focus on the 529. Yes, see how it feels to "deprive" yourself of the pleasure of buying for kids or grandkids. I only know of one person who wouldn't let his mother give gifts to his kids,...
by BL
Thu Jan 29, 2015 3:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bringing up 529s to the grandparents
Replies: 56
Views: 2657

Re: Help - DH's bank wants to switch his RMD to VALIC

I would not rush into anything this quickly when most annuities are complicated and expensive with many fees and other costs. The salesman would get a big part of the initial amount so that would not be growing for you and would be an incentive to sell to you (conflict of interest). You didn't say w...
by BL
Thu Jan 29, 2015 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help - DH's bank wants to switch his RMD to VALIC
Replies: 12
Views: 652

Re: Age limit on IRA deduction

Assuming they have a job or other acceptable compensation, they can contribute up to $6500 each to Roth IRA. Good place for tax in-efficient funds that maybe kick out lots of dividends or capital gains. No tax when you sell; there are some time requirements on gains.
by BL
Wed Jan 28, 2015 6:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Age limit on IRA deduction
Replies: 24
Views: 1296

Re: Expense ratio of individual stocks at Vanguard

Here is a Wiki page for the 3-fund portfolio (there is also a long thread here on this): https://www.bogleheads.org/wiki/Three-fund_portfolio Many here believe buying individual stocks is a high-risk situation, and would rather go with total stock market funds. Here is one booklet written for beginn...
by BL
Wed Jan 28, 2015 10:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Expense ratio of individual stocks at Vanguard
Replies: 16
Views: 1223

Re: What age did you move out?

Not financially independent, but went away from home before 14 for school, spent 3 x 6months + 1 x 3 months + holidays at home before finishing college, getting married, and getting first degree-required job at age 20 (had worked 6 months after h.s., age 17, when I roomed with friends). Lived on lov...
by BL
Wed Jan 28, 2015 3:32 am
 
Forum: Personal Consumer Issues
Topic: What age did you move out?
Replies: 117
Views: 4715

Re: Backdoor ROTH IRA Tax question

You need to fill out form 8606. See:
http://www.irs.gov/pub/irs-pdf/i8606.pdf

Only the income, if any, should be taxable. The other is basis, assuming you didn't deduct any of it. Vanguard has no idea if you deducted it or not.
by BL
Mon Jan 26, 2015 4:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor ROTH IRA Tax question
Replies: 3
Views: 435

Re: Parents Retirement

Please don't assist MS or NM fleece your parents by giving your stamp of approval. Many of these guys are "nice" but that doesn't mean they won't transfer money from your parents to their own retirement. It is very difficult to find a fiduciary that would have your parents' best interests ...
by BL
Mon Jan 26, 2015 4:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Parents Retirement
Replies: 7
Views: 898

Re: Help for Lively 83 yr. old

Honestly, it looks like you have considered everything, so I couldn't add a thing! The only thing I haven't seen mentioned is Long Term Care, and you probably have that in mind, too. You, together with your aunt, are probably the best-qualified to make decisions on inflation and term-certain or such...
by BL
Mon Jan 26, 2015 1:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 8
Views: 1380

Re: wife's purse

Have her give you a couple of model names if she wants it to be a surprise or else make sure it can be exchanged if she doesn't like it. If it is to be expensive, it might as well be exactly what she wants!
by BL
Sun Jan 25, 2015 11:12 pm
 
Forum: Personal Consumer Issues
Topic: [Purchasing a] wife's purse
Replies: 35
Views: 3067

Re: Should I sell My American Funds?

Yes. I was already planning to do this. There will be a cap gains hit on this investment though. As I had mentioned earlier in this thread, my contributions to the Traditional IRAs were all post-tax. Therefore, I believe I will only have to pay taxes on the gains. Another reason I want to convert i...
by BL
Sun Jan 25, 2015 3:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I sell My American Funds?
Replies: 51
Views: 5582

Re: Help with Merrill Edge Roth Account

Looks like you need to get away from your adviser one way or other. Maybe you can leave it at Merrill Edge until the withdrawal comes down. However, it may be better and cheaper to just rip off the bandage and move it to Vanguard and pay the back-end load. You can save 1% a year on the ER and get aw...
by BL
Sun Jan 25, 2015 12:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with Merrill Edge Roth Account
Replies: 10
Views: 833

Re: Investing Options for Mom

Bonds can be somewhat volatile, although not nearly as much as stock funds. If interest rates increase, bond values are expected to go down. Bank/credit union guaranteed accounts and I-Bonds are the most common really "safe" places. They probably don't keep up with inflation, although I-Bo...
by BL
Sat Jan 24, 2015 11:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing Options for Mom
Replies: 2
Views: 285

Re: Elderly Mother in MI - Assisted Living transition

Be very sure that you (and she) would want her to be on Medicaid (if not necessary) before you deplete her assets! Some of those choices are not good, depending on state and communities. Personally I would choose to spend my assets to get the best choices possible. You will have to see a lawyer to a...
by BL
Sat Jan 24, 2015 6:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Elderly Mother in MI - Assisted Living transition
Replies: 10
Views: 1006

Re: Newbie needing help with investments

Not sure where I found this or if someone recommended it, but I read If You Can by William Bernsetein last night! It was a great resource and I'll be reading it again with the homework assignments as part of my education in investments. I love to recommend this, too. It has so many good ideas disti...
by BL
Sat Jan 24, 2015 6:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newbie needing help with investments
Replies: 17
Views: 972

Re: Bad 401K or Taxable or Mortgage or Car Loan?

These are just suggestions for research/decision making ( I had a family member who did the 15-yr recently.): Here is another PenFed 5/5 ARM, since you have about 10 years left on current mtg. 5/5 Adjustable Rate Mortgage Adjusts only once every 5 years Months Rate Points APR Payment* First 60 2.750...
by BL
Sat Jan 24, 2015 3:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bad 401K or Taxable or Mortgage or Car Loan?
Replies: 19
Views: 789

Re: Some RMD Questions

BL, Thanks. I was really asking about their automated RMD service -- looking to simplify my financial life, eliminate need to plan or think about RMDs. Perhaps I could look at the automated service as a fall-back safety. If I screw up VG will swoop in and save me! This depends on VG's automated pro...
by BL
Sat Jan 24, 2015 3:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Some RMD Questions
Replies: 28
Views: 1511

Re: Bad 401K or Taxable or Mortgage or Car Loan?

Too bad about her 401k. I would also pay off car and also check into refi the mortgage. Look at PenFed: under 3% for 15-yr and various other alternatives. You can join! I am sure other places have good deals as well and may have better customer service. PenFed: For home purchase or refinancing Loan ...
by BL
Sat Jan 24, 2015 3:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bad 401K or Taxable or Mortgage or Car Loan?
Replies: 19
Views: 789

Re: Some RMD Questions

5. Not only in my taxable account (previous question) but in the same funds it came out of from the IRA, and in the same amounts. Is this possible? 4-5. Go into your IRA and select "buy and sell". (This is where I do Roth conversions - non-brokerage) select "exchange (sell to buy) Va...
by BL
Sat Jan 24, 2015 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Some RMD Questions
Replies: 28
Views: 1511

Re: Flagship financial planner advice?

Basically the same as simpler 3-fund portfolio:
https://www.bogleheads.org/wiki/Three-fund_portfolio

Do you have any in a taxable fund? Stocks or municipal bonds are more tax-efficient.
by BL
Sat Jan 24, 2015 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Flagship financial planner advice?
Replies: 54
Views: 5278

Re: 2015 Roth IRA question

Do you have a working spouse?

I Googled to find lists of compensation. IRS is always a good site.
Fairmark has this:
http://fairmark.com/retirement/roth-accounts/contributions-to-roth-accounts/qualifying-income-for-ira-contributions/
by BL
Sat Jan 24, 2015 11:37 am
 
Forum: Investing - Help with Personal Investments
Topic: 2015 Roth IRA question
Replies: 5
Views: 438

Re: 401k to Roth conversion for a retiree

Peter Foley wrote:
Married filing jointly you will have 12,400 as a standard deduction and 7,900 in exemptions. This wipes out part of your income for the purposes of taxes. The result in "taxable income."

[


Also add an additional $2,500 SD for a married couple if both over age 65 (1,250/person).
by BL
Sat Jan 24, 2015 10:39 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k to Roth conversion for a retiree
Replies: 15
Views: 1218

Re: Advice request for establishing portfolio

The more "involved" folks are, the more likely to tinker and not stay the course. I think you have come up with a pretty good plan, but I don't memorize symbols so could be mistaken. I would personally steal about 10% from international to buy Extended Market, either now or later. That wou...
by BL
Sat Jan 24, 2015 10:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice request for establishing portfolio
Replies: 17
Views: 1092

Re: Vanguard STAR Fund (VGSTX)

If taxable account, taxes should be considered, especially if you are not spending the dividends.
Maybe include municipal bonds.

Above funds are slightly better than Star, which I have continued to keep, staying the course.
by BL
Fri Jan 23, 2015 6:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard STAR Fund (VGSTX)
Replies: 8
Views: 966

Re: Advice request for establishing portfolio

You wouldn't in a 401k you can only use what the fund manager has available. Use the best options you can in the 401k up to your company match and then open a IRA with Vanguard to run a 3/4 low cost fund port. I use PTTRX (ER 0.46% -- alot of EURO bonds tho!) and VIIIX (ER 0.02%) in my 401k they ar...
by BL
Fri Jan 23, 2015 6:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice request for establishing portfolio
Replies: 17
Views: 1092

Re: How do you recommend investing 1.5 million?

If you can move everything to Vanguard I bet they can also help you.
With that large a sum, they would be happy to suggest a portfolio after some information is shared.
by BL
Fri Jan 23, 2015 6:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do you recommend investing 1.5 million?
Replies: 9
Views: 1604

Re: Advice request for establishing portfolio

One simple idea would be the VANG INST INDEX PLUS (VIIIX) in 401k (What is ER?) and a Life Strategy Aggressive (80/20) in IRA. EDT: It is not exact, but ballpark ratio. That would be somewhere close to your choice. You might enjoy reading this little booklet (on top of recommended reading here): If ...
by BL
Fri Jan 23, 2015 1:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice request for establishing portfolio
Replies: 17
Views: 1092

Re: How do you recommend investing 1.5 million?

Look at Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX), 50-50, if you want just one fund in taxable account. Wellington kicks out a lot of taxable income, but if you plan to spend it, perhaps it doesn't matter, depending on your tax bracket. We know nothing about you, see Asking Questions...
by BL
Fri Jan 23, 2015 1:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do you recommend investing 1.5 million?
Replies: 9
Views: 1604

Re: Parents Retirement Advice 62 y.o.

I think ideally she should wait until as close to age 70 as she can before filing for her SS. If your father has filed, she is eligible to file for spousal only at FRA, so then they would each have some income coming in before she turns 70. This wouldn't have to be a final choice, they could decide ...
by BL
Fri Jan 23, 2015 1:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Parents Retirement Advice 62 y.o.
Replies: 8
Views: 949

Re: Terrible ? but...How hard is it to receive life ins payo

I have to ask - Did you buy Term Insurance?

Good idea to get some of this information in your head before you think you need it.
Consider having a file or notebook with vital information in it.
Be sure to have an up-to-date will and beneficiaries for everything.
by BL
Fri Jan 23, 2015 10:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 1803

Re: Cosign or write loan

Would daughter qualify for a loan if she alone applied and you gave her a large down-payment? I know that would also have issues.

You can gift more, all you have to do is report it, not pay taxes unless you have millions.
by BL
Thu Jan 22, 2015 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Cosign or write loan
Replies: 40
Views: 1480

Re: HSA Question

Absolutely! Search here for HSA and you will find out a lot. It can be kept until retirement and taken out for documented unreembursed medical expenses the rest of your (and spouse's) life with no taxes ever paid, not even SS & Medicare. I just claimed my little one for past Medicare part B pai...
by BL
Thu Jan 22, 2015 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA Question
Replies: 3
Views: 338

Re: Cosign or write loan

Perhaps it is time to let them face the consequences of bad financial decisions, rather than rescuing them from it which prevents learning from bad choices. It shouldn't hurt to rent while they are building credit and saving to cover at least 20% down payment.
by BL
Wed Jan 21, 2015 6:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cosign or write loan
Replies: 40
Views: 1480

Re: Ethics of an advisor "handing you off" to a colleague

As an example, here is a link to EJs list of fees, direct and from third parties (guess who is paying for them, too?). I don't know your company but you could probably find something similar due to disclosure requirements. https://www.edwardjones.com/groups/ejw_content/@ejw/@us/documents/web_content...
by BL
Wed Jan 21, 2015 6:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ethics of an advisor "handing you off" to a colleague
Replies: 38
Views: 2918

Re: Ethics of an advisor "handing you off" to a colleague

I think he did you a favor. Take the hint and move on to a low-cost broker. Read the Wiki and search threads here about moving away from advisers. No need to finance anyone's retirement buy your own.
by BL
Wed Jan 21, 2015 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ethics of an advisor "handing you off" to a colleague
Replies: 38
Views: 2918

Re: Couples with two homes

Kids move, too, so I wouldn't base a home decision mainly on that. I like picking out one home, maybe a second vacation home, and travel/rent at other places.
by BL
Wed Jan 21, 2015 3:48 pm
 
Forum: Personal Consumer Issues
Topic: Couples with two homes
Replies: 11
Views: 1142

Re: Figuring out my parent's retirement

I don't understand how they qualify for SSDI when they are still working, unless they are earning very little. I would think they would qualify after they have be accepted to receive SSDI, after they are unable to work. Once they are full retirement age, it turns into regular SS. From their booklet:...
by BL
Wed Jan 21, 2015 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Figuring out my parent's retirement
Replies: 15
Views: 1746

Re: Where To Transfer Life Insurance Proceeds

His insurance proceeds should be tax-free. Don't do anything to "save" on taxes by moving them quickly. Bank or credit union insured accounts would be the ideal place to put it for a good while. Cover things like 401k, IRA, education funds if appropriate during this tax year, think about m...
by BL
Tue Jan 20, 2015 10:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where To Transfer Life Insurance Proceeds
Replies: 9
Views: 628

Re: 15 year fixed mortgage vs ARM 5 1

This seems high compared to PenFed's 15 yr and 5/5 rates. Perhaps you could look around some more.
by BL
Tue Jan 20, 2015 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 year fixed mortgage vs ARM 5 1
Replies: 4
Views: 440

Re: Where To Transfer Life Insurance Proceeds

It is way too soon to make a decision about giving away money or making other major financial moves. He should drop it all in FDIC insured banks, credit unions, etc., spreading it around to 3 or 4 different institutions unless he can get it at one source (CDARS). Then do only the essentials for up t...
by BL
Tue Jan 20, 2015 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where To Transfer Life Insurance Proceeds
Replies: 9
Views: 628

Re: Tax Preparation--Anyone try this as second income

You can get training and volunteer at VITA or TCE (senior) sites. (I retired this year after about 10 years. I miss it but the coordinator retired and it was too much committed distance driving during the snow and ice season anyway!) One problem may be that you might never want to charge someone for...
by BL
Tue Jan 20, 2015 3:21 pm
 
Forum: Personal Consumer Issues
Topic: Tax Preparation--Anyone try this as second income
Replies: 13
Views: 2124

Re: Immediate fixed income suggestions

I applaud your trying to manage this to make it last, as it is not easy to do this for someone else, but she could survive very well on any number of approaches including a Tips ladder, target retirement Income, SPIA, or a 50/50 Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). I hope you a...
by BL
Mon Jan 19, 2015 11:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Immediate fixed income suggestions
Replies: 74
Views: 3407

Re: Diversify my portfolio

Have you read Dr Bernstein's little booklet for investing? Here it is:
If You Can: How Millennials can get rich slowly
http://www.etf.com/docs/IfYouCan.pdf

He suggests equal parts of the 3 fund portfolio.
by BL
Mon Jan 19, 2015 9:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Diversify my portfolio
Replies: 18
Views: 1712

Re: Capital Gains help

If you are re-investing the CGs and dividends, I would turn that off. No need to add more to something you don't feel is right.
by BL
Mon Jan 19, 2015 5:51 pm
 
Forum: Investing - Theory, News & General
Topic: Capital Gains help
Replies: 18
Views: 950
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