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Re: Tax Deductible Donation Question

Thanks a lot Gus. One less thing to bother with this tax season.
by DOA2035
Fri Jan 31, 2014 12:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deductible Donation Question
Replies: 2
Views: 363

Tax Deductible Donation Question

I’ve got a tax question about a deductible donation I made in 2013 of some kitchen cabinetry and counters as part of a home renovation. The renovators said the value of the kitchen cabinetry and counters was $4,000 and I obtained the specific documentation from the charity regarding the donation. I ...
by DOA2035
Tue Jan 28, 2014 11:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deductible Donation Question
Replies: 2
Views: 363

Oh I felt the envy as I compared what I was hearing to the the relatively paltry benefits I get at my employer. I'm not so much mad, it's just that the likelihood of an actively managed fund outperforming and index fund over extended periods is quite low. Plus, you add in the tax drag resulting from...
by DOA2035
Wed Aug 31, 2011 9:05 pm
 
Forum: Investing - Theory, News & General
Topic: High Expense Ratios on Actively Managed Funds
Replies: 3
Views: 590

High Expense Ratios on Actively Managed Funds

I was talking with someone who works at a mutual fund company that has funds with high expense ratios. I was bowled over by the benefits that these companies offer. This person is in more of a compliance position and does not work direcly with clients. Here were some of the benefits just at this per...
by DOA2035
Wed Aug 31, 2011 8:09 am
 
Forum: Investing - Theory, News & General
Topic: High Expense Ratios on Actively Managed Funds
Replies: 3
Views: 590

Thanks so much everybody. This has been an eye opener. I was leaning toward the tax-free transfer to an annuity, but exploring options to keep the policy in force, even with a reduced death benefit and eliminating the need to pay additional premiums may be the best option as the proceeds to the bene...
by DOA2035
Wed May 11, 2011 10:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with Whole Life Insurance Policies
Replies: 13
Views: 2007

He hasn't paid premiums on this policy for quite a while. The most recent statement says that the annual premium is $1,254. I don't know how these policies work. It is hard to imagine that the premiums have been that high on a policy that was enacted in 1991.
by DOA2035
Mon May 09, 2011 11:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with Whole Life Insurance Policies
Replies: 13
Views: 2007

What to do with Whole Life Insurance Policies

Hello, I'm trying to help out my elderly father (early 80's) who is uncertain what to do with some whole life insurance policies he has had for years. These were originally set up with various agents, so he doesn't understand them very well, nor do I. For example, he has had $25,000 policy since the...
by DOA2035
Sun May 08, 2011 7:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with Whole Life Insurance Policies
Replies: 13
Views: 2007

Elderly parent - buy or lease a car?

Hello, I'm seeking input for a car dilemma my 82-year-old father has encountered. His car was totaled last week as a result of water damage related to severe flooding. He bought the car with a near-zero interest car loan. He has an $800 a month car payment and about $12 of that was interest. The aut...
by DOA2035
Sun Jul 25, 2010 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Elderly parent - buy or lease a car?
Replies: 10
Views: 2828

Bond Funds in Taxable Accounts

Hello, I'm helping my father who is in mature retirement (80+) with his investments and we are looking to adjust his stock fund to bond fund ratio to a more appropriate allocation given his age. The broker he has been working with had him at 75%+ stock mutual funds (weighted average fee of 1.79). Co...
by DOA2035
Fri May 15, 2009 8:20 am
 
Forum: Investing - Help with Personal Investments
Topic: Bond Funds in Taxable Accounts
Replies: 2
Views: 982

Thanks all

I appreciate all of the useful information. It looks like we'll do partial transfers to IRAs at Vanguard from the IRAs that currently have the variable annuities and then focus on taking the RMDs in the coming years from the accounts with the variable annuities in them. I've been aware of the issue ...
by DOA2035
Thu May 14, 2009 10:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mandatory Minimum Withdrawal for Retirement Accounts
Replies: 6
Views: 1284

Mandatory Minimum Withdrawal for Retirement Accounts

Hello, I am aware that the 4% mandatory minimum withdrawal is suspended for 2009. What I am wondering about is in the case where one has several IRA accounts, some of which are being held with different brokerage firms, is it possible to designate which accounts the 4% is pulled from for the year (2...
by DOA2035
Thu May 14, 2009 6:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Mandatory Minimum Withdrawal for Retirement Accounts
Replies: 6
Views: 1284

Tax Loss Harvesting Options

I hold a large portion of my taxable investments at Vanguard. As the market has gone down over the past few months I have done some tax loss harvesting with my original investment in VTSMX. I have swapped into both VFINX and VLACX over time and have made my way back into VTSMX at present. With the l...
by DOA2035
Tue Oct 07, 2008 8:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting Options
Replies: 1
Views: 561

Thanks JW. Yes there is a sweep account. Supposedly now all dividends will be reinvested so I think from here forward the issue is moot. You never know though so I will be watching closely this December when the VEU dividend will be issued.

Thanks.
by DOA2035
Sun Jun 15, 2008 10:00 am
 
Forum: Investing - Theory, News & General
Topic: Ever had a broker do this?
Replies: 7
Views: 1990

Thanks Steve

I actually already have everything else split between Vanguard and the Wells Fargo PMA which is a phenomenal deal. Already being in the low cost alternatives makes it especially painful to see this stuff going on. There should be no more ETF purchases in this account in the future and it was in long...
by DOA2035
Fri Jun 13, 2008 9:50 pm
 
Forum: Investing - Theory, News & General
Topic: Ever had a broker do this?
Replies: 7
Views: 1990

My father is the trustee. It is the type of trust where portions of it become accessible at certain specified ages. My father had most of his financial assets held with this broker which is why the trust was placed there as well.
by DOA2035
Tue Jun 10, 2008 5:55 pm
 
Forum: Investing - Theory, News & General
Topic: Ever had a broker do this?
Replies: 7
Views: 1990

Ever had a broker do this?

I have a trust in my name which is held with a large brokerage firm. I will be eligible to take ownership of it in a few years so it is sort of stuck there in the interim. It would otherwise be at Vanguard. I have been able to change the holdings from what the broker had set up originally (very tax ...
by DOA2035
Tue Jun 10, 2008 3:48 pm
 
Forum: Investing - Theory, News & General
Topic: Ever had a broker do this?
Replies: 7
Views: 1990

Thanks

My father is on board with making some changes within the limitations of not changing things in a way that are going to create a significant taxable event. The idea of paying less in taxes on capital gains distributions by switching to index funds where possible in his taxable accounts is very appea...
by DOA2035
Tue Jun 10, 2008 3:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice for Retired Parent
Replies: 12
Views: 2567

Thanks Kenner. I appreciate the tip on the Merriman article on variable annuities. I been searching for an analysis like that for quite a while. Very helpful. I think the best case scenario here is that we dump all the other holdings other than the stocks I had mentioned and perhaps target a 50/50 a...
by DOA2035
Wed Jun 04, 2008 9:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice for Retired Parent
Replies: 12
Views: 2567

Portfolio Advice for Retired Parent

Hello, I am looking for some input on my father's portfolio. At 80 years old, he is in mature retirement. He has income from social security as well as a monthly stipend for consulting which helps to cover a lot of his expenses. He has no debt. For taxes, he is married filing jointly and is in the 2...
by DOA2035
Tue Jun 03, 2008 10:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice for Retired Parent
Replies: 12
Views: 2567

One of the VA's used is from Hartford Leaders The other one is from Jackson National Life Insurance Company Then there are the subfunds available from those companies, which I'm assuming the financial adviser selected from. Those web pages don't indicate, however, how much the adviser's commission w...
by DOA2035
Sun Apr 27, 2008 8:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity and T-IRAs
Replies: 15
Views: 2692

Thanks for all of your comments, and kenner I appreciate your research and comparison of Wachovia's info. on VA's, what little there is of it, and Vanguard's. I am definitely going to follow up on this. I think it is possible to transfer from one VA to another from what I've read.

Thanks.
by DOA2035
Sun Apr 27, 2008 3:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity and T-IRAs
Replies: 15
Views: 2692

This is through Wachovia. I don't have any information at this time as to how long ago this was set up. At some point soon we plan to meet with this adviser to find out the supposed rationale for having the variable annuities in the T-IRAs.
by DOA2035
Sun Apr 27, 2008 2:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity and T-IRAs
Replies: 15
Views: 2692

Variable Annuity and T-IRAs

Hello, I was wondering what reasons there might be to hold a variable annuity in a traditional IRA. I'm working with my father, who is in the mature retirement phase, to take a look at what a financial adviser had set up for him with his IRA and taxable accounts. Everything is at one financial broke...
by DOA2035
Sun Apr 27, 2008 12:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity and T-IRAs
Replies: 15
Views: 2692

Thanks Rick. I appreciate the benefit of your experience and expertise.
by DOA2035
Mon Apr 21, 2008 11:13 pm
 
Forum: Investing - Theory, News & General
Topic: How are Financial Advisers Evaluated…
Replies: 14
Views: 2081

Thank you all for the insight - I can't say that I'm surprised. It makes me all the more thankful that I have been doing index investing for a few years now. Another related question I have is what do these advisers base their mutual fund recommendations to their clients on? I'm wondering if in some...
by DOA2035
Mon Apr 21, 2008 10:29 pm
 
Forum: Investing - Theory, News & General
Topic: How are Financial Advisers Evaluated…
Replies: 14
Views: 2081

So for the amount of money they rack up on commissions on stock purchase and sales and transaction fees on mutual fund purchases and sales?
by DOA2035
Mon Apr 21, 2008 9:46 pm
 
Forum: Investing - Theory, News & General
Topic: How are Financial Advisers Evaluated…
Replies: 14
Views: 2081

How are Financial Advisers Evaluated…

By The Firms That Employ Them? I am curious how financial advisers are evaluated in terms of job performance by the firms that employ them. I’m talking here about financial advisers that your person off the street might work with if they went to someplace like Wachovia or UBS to set up an investment...
by DOA2035
Mon Apr 21, 2008 9:31 pm
 
Forum: Investing - Theory, News & General
Topic: How are Financial Advisers Evaluated…
Replies: 14
Views: 2081

In addition to the typically better performance over time resulting from lump-summing or front-loading your 401k or IRA contribution for the year vs DCA, I think there's the added tax benefit of getting that money into a tax-deferred account sooner than if it'd otherwise be "waiting" in an...
by DOA2035
Sun Apr 20, 2008 11:30 am
 
Forum: Investing - Help with Personal Investments
Topic: maximazing 401k contributions at the beginning of the year
Replies: 19
Views: 3575

Thanks for the additional suggestions. I had not thought about starting also with selling tax lots that are carrying a loss. That would give their financial adviser something constructive to do for a change. That's also a good point about bailing if possible on a fund before an upcoming distribution...
by DOA2035
Sun Apr 20, 2008 12:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice on Making the Switch to Index Investing
Replies: 3
Views: 1217

Advice on Making the Switch to Index Investing

I've been using the buy-and-hold index investing approach for a few years now thanks mostly to some of Rick Ferri's books, this forum and other experts giving sound advice. I was fortunate to start at a time where it wasn't too difficult to get out of the actively managed funds I was in and the capi...
by DOA2035
Sat Apr 19, 2008 5:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice on Making the Switch to Index Investing
Replies: 3
Views: 1217

Thanks for your reponse. OK, so it seems like I will need to figure out what the proportionate amount of the recharacterization will be the non-deductible part. About 7% of the original conversion was non-deductible. I know at this point the adjusted opening balance on Roth is carrying a loss since ...
by DOA2035
Tue Apr 08, 2008 8:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Non-Deductible Portion of TIRA and Recharacterization
Replies: 2
Views: 881

Non-Deductible Portion of TIRA and Recharacterization

About 10 years ago, I made a non-deductible contribution to an existing TIRA I had set up. This was not intentional - I just didn't realize at the time that I was over the income level that would have enabled my contribution to be fully deductible. So I had filed form 8606 then with my tax return an...
by DOA2035
Mon Apr 07, 2008 10:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Non-Deductible Portion of TIRA and Recharacterization
Replies: 2
Views: 881

Thank You

Chip, Thanks so much for helping me make sense of how to proceed with this. The details you provided helped me cover all aspects of this, right down to determining the value of the Roth prior to the conversion by checking the prices of the fund I had in that account on Yahoo for 5/21. I can't tell y...
by DOA2035
Mon Mar 31, 2008 7:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Complicated Roth Recharacterization
Replies: 3
Views: 2005

Complicated Roth Recharacterization

I am looking for any guidance or input on the following: In 2007, I had one Roth and one Traditional IRA at Charles Schwab. On 5-22-07, I converted an entire Traditional IRA worth $15515.51 to an exiting Roth IRA at Charles Schwab which I think was worth about $8300 at that time (can’t seem to find ...
by DOA2035
Sun Mar 30, 2008 10:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Complicated Roth Recharacterization
Replies: 3
Views: 2005

Follow-up Roth 401k Question

My wife and I are currently maxing out our traditional 401ks. We will likely also do this next year, but will probably not make maximum contributions beyond 2008. Doing this has put us in the 15% tax bracket for 2006 and 2007, whereas we would otherwise be in the 25% bracket without the pretax contr...
by DOA2035
Wed Nov 21, 2007 12:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Follow-up Roth 401k Question
Replies: 1
Views: 810

I'd have to second Unforgiven and The Outlaw Josey Wales mentioned above and add Pale Rider.
by DOA2035
Tue Nov 06, 2007 9:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Favorite western movie?
Replies: 38
Views: 7907

Thanks Guys

Sounds good. I already have SCV in tax-deferred accounts and a microcap index fund in my taxable account (It's FDM, which I swapped out of PZI during the same downturn in the market). So I guess my AA will ride forward a little light on the mid-caps then without being in TSM. Down the road though I ...
by DOA2035
Tue Oct 16, 2007 6:16 pm
 
Forum: Investing - Theory, News & General
Topic: Getting Back Into Your Original Funds
Replies: 6
Views: 1717

Getting Back Into Your Original Funds

I swapped out of Vanguard's Total Stock Market Index fund a few months ago when the market dipped and went into the 500 Index fund to capture the tax loss. I think at this point I will stay with the 500 Index fund at least a year to ensure that any gain is long-term. Who knows, maybe the market will...
by DOA2035
Tue Oct 16, 2007 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: Getting Back Into Your Original Funds
Replies: 6
Views: 1717

Go with TSM

Hi, FWIW, I went through an almost identical process several months ago and ended up just going with TSM in taxable and haven't looked back. It's certainly more tax efficient, and as Rick Ferri I believe has previously pointed out, the TSM has tilted on it's own to large value in its holdings somewh...
by DOA2035
Sat Oct 13, 2007 3:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large Value Index in a taxable account - Is it worth it?
Replies: 22
Views: 5135

Thank you all

I appreciate all of the good advice, with the main thrust being to act now. You guys gave me a lot of additional useful input to explore as part of this, such as possibly different lengthed policies for my wife and I. I would have otherwise pursued two policies of the same length for sure. Very much...
by DOA2035
Sun Sep 09, 2007 10:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: 20-year Term Life Insurance Question
Replies: 12
Views: 2910

20-year Term Life Insurance Question

I am in the process of trying to set up appropriate life insurance policies for me and my wife. We are otherwise very well set with our portfolio, savings, and emergency fund - thanks in large measure to advice I obtained from this forum. Both of us are 35-years-old and we have a 2-year-old child an...
by DOA2035
Sat Sep 08, 2007 11:52 am
 
Forum: Personal Finance (Not Investing)
Topic: 20-year Term Life Insurance Question
Replies: 12
Views: 2910

And there's no annual fee on the brokerage account at Wells Fargo? Does anyone know if Wells Fargo will rebate any account transfer fee you might be charged from another brokerage firm? A customer service rep at Charles Schwab told me that they practice this.
by DOA2035
Sat May 26, 2007 5:49 pm
 
Forum: Investing - Theory, News & General
Topic: Best Online Brokerage?
Replies: 47
Views: 22394

Wells Fargo's strings

Anyone know what kinds of strings Wells Fargo attaches to their 100 free trades a year with a $25k balance? I've got an account at Schwab, where trades are $12.95 for share lots under 1000.

Thanks,
Greg
by DOA2035
Sat May 26, 2007 4:29 pm
 
Forum: Investing - Theory, News & General
Topic: Best Online Brokerage?
Replies: 47
Views: 22394

Thanks

Good suggestions. I'm leaning toward a hybrid of Laura and RM's suggestions by leaving my planned 2008 RIRA contributions in MM because it's only a little over 6 months away and I'm getting over 5% in the Prime Money Market fund. Then I may invest the amount planned for 2009 and 2010 in VTSMX, which...
by DOA2035
Thu May 17, 2007 9:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with this money?
Replies: 13
Views: 4255

Hi, This is what I'm doing. I'm currently investing in VIVSX and VGSIX and adding as I am able to with the maximum allowable contributions to the Roth accounts year by year. At this point I am wondering what to do with the money until I can make the next maximum contribution in 2008 and the same in ...
by DOA2035
Thu May 17, 2007 12:23 am
 
Forum: Investing - Help with Personal Investments
Topic: What to do with this money?
Replies: 13
Views: 4255

What to do with this money?

I am realizing that it will take two to three years of maximum contributions to my and my wife's Roth IRAs to reach our tax efficient targeted allocation of 10% SV and 10% REIT in those tax advantaged accounts. Our 401k's don't offer those asset classes in index funds. VTSMX and VEU are the only oth...
by DOA2035
Wed May 16, 2007 11:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with this money?
Replies: 13
Views: 4255

I'm starting to think this way as well. I just did this for the FTSE All World Ex-US ETF where I made a lump sum purchase. I was particularly inclined to do this for this fund because in another recent post on this forum a case was made that admiral shares may not be made available for newer Vanguar...
by DOA2035
Wed May 16, 2007 12:14 pm
 
Forum: Investing - Theory, News & General
Topic: Why not ETF's, if the expenses are lower?
Replies: 41
Views: 17726

Bond Allocation Question

I am working toward achieving my 20% bond allocation by maximizing the contributions to my and my wife's 401ks. The bond fund in my account is Vanguard Bond Index Short Term - VBISX .18. The fund in my wife's account is FBIDX Fidelity US Bond Index .32. I have two questions about this. First, my pla...
by DOA2035
Wed May 16, 2007 11:56 am
 
Forum: Investing - Help with Personal Investments
Topic: Bond Allocation Question
Replies: 2
Views: 1103

Tet, Thanks for the heads up on those issues. I will definitely check with the broker about the ETF dividend reinvestment. I am pretty sure that the broker will buy partial shares so I am hoping that just about all of the cash in the account will be invested. I'm not sure I understand the issue of c...
by DOA2035
Sun May 13, 2007 11:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: FTSE All-World ex-USA Index Fund or ETF?
Replies: 10
Views: 3175

Thanks Laura and Livesoft

I appreciate the input and your help, Laura, in putting to rest the ETF/Index fund price difference issue. I can proceed with confidence in buying the ETF this week. I might even consider going with VTI over VTSMX in my US equity allocation. The ER for the ETF is already lower than that of the admir...
by DOA2035
Sun May 13, 2007 1:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: FTSE All-World ex-USA Index Fund or ETF?
Replies: 10
Views: 3175
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