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Re: A question on long term care insurance

From personal experience: My mom had a Genworth policy, purchased in 1990. It was the type of policy that paid a flat per diem, and had a 3% inflation increase each year. It was also a policy that covered care in a skilled nursing facility only, and specified there had to be an RN on duty so many ho...
by Gnirk
Sat Jul 26, 2014 10:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question on long term care insurance
Replies: 18
Views: 841

Re: Rich Spouse, Poor Spouse

My DH and I are in a similar situation. Only he's the rich spouse. We each have the same percentage taken out of our incomes: SS, retirement, RMDs, and it is enough to pay the taxes on the investment income. Often there is a refund which goes to my husband. Am I paying more taxes than if I were sing...
by Gnirk
Thu Jul 24, 2014 3:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rich Spouse, Poor Spouse [Tax filing apportionment]
Replies: 77
Views: 4858

Re: What's Golf Course Frontage Worth - Indianapolis

My husband is an avid golfer. Our primary home and our snowbird home are both on very nice golf courses, and both across from the tee box, so no golf balls hitting the house. As another poster said. Location is important. We also have enough distance between the house and the tee that we don't hear ...
by Gnirk
Thu Jul 24, 2014 2:19 am
 
Forum: Personal Finance (Not Investing)
Topic: What's Golf Course Frontage Worth - Indianapolis
Replies: 19
Views: 1209

Re: Here's another "where should I retire" thread

I have dear friends who retired in Williamsburg, VA. They love it. William and Mary College, Colonial Williamsburg, Yorktown, etc. I live on the west coast, and if it weren't for family here, I'd retire there in a heartbeat.
by Gnirk
Thu Jul 24, 2014 12:39 am
 
Forum: Personal Consumer Issues
Topic: Here's another "where should I retire" thread
Replies: 104
Views: 5723

Re: So how long will I live? How long do I plan for?

DH took the livinto100 test. It said he'd live to 87. He is 64 and was just diagnosed with cancer. :( Hopefully it is treatable. My DH had his first stroke at 60, his second at 64. At 67 he had a prostatectomy, plus radiation and Lupron treatments (it had spread). No more problems with that. At 70,...
by Gnirk
Tue Jul 22, 2014 11:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: So how long will I live? How long do I plan for?
Replies: 55
Views: 4327

Re: Establishing a dementia trust

I used my mother's Durable Power of Attorney to establish a Revocable Living Trust for her. I did this not to avoid probate, since that can be done by establishing beneficiaries on accounts. I did this to ensure that if something happened to ME, her only attorney-in-fact, there would be others desig...
by Gnirk
Tue Jul 22, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Establishing a dementia trust
Replies: 8
Views: 802

Re: Downsizing to Apartment

Congratulations! If I am ever widowed, I plan to do the same thing, only downsize from a 2900 SF house. I figure even though I won't have the house as an asset, It will make it much easier for my children in the long run…no house to worry about maintaining until it sells, cleaning out 1100 sf vs the...
by Gnirk
Mon Jul 21, 2014 1:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Downsizing to Apartment
Replies: 15
Views: 1829

Re: Seeking advice on buy vs lease of commercial space

Rule #1. Location, location, location. If your business needs foot traffic, parking, etc.
My husband was in retailing for 30 years, and leased space for all five of his stores. In retrospect, he wished he'd purchased the buildings. If you are in it for the long term, and the location is suitable, buy.
by Gnirk
Sun Jul 20, 2014 9:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Seeking advice on buy vs lease of commercial space
Replies: 3
Views: 382

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Before paying off the vehicle, you really need to speak to an attorney. Paying off the loan could give your friend eligibility problems if he does want file bankruptcy or, in the worst case, might give the trustee an unencumbered asset he can sell. I doubt your friend will be able to afford a payme...
by Gnirk
Mon Jul 14, 2014 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7374

Re: What after-tax income could you live on today?

If husband passed today, I could live on a bit less than $60K after tax, which would require taking $21K per year (before tax) from investments, even after RMD. House is paid off, and budget includes maintenance fund, someone to take care of the huge yard (which I can no longer do), and every other ...
by Gnirk
Fri Jul 11, 2014 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: What after-tax income could you live on today?
Replies: 48
Views: 4991

Re: The Millionaire Next Door: Are You One?

My widowed mother is the "The Millionaire Next Door". Sometimes I wonder why she didn't do more travel, etc before she came down with Alzheimer's. She certainly had the means. But on the other hand, I think she was quite happy living as she did…..frugally and watching her investments grow....
by Gnirk
Sun Jul 06, 2014 4:15 pm
 
Forum: Personal Consumer Issues
Topic: The Millionaire Next Door: Are You One?
Replies: 187
Views: 22277

Re: Do you tell your kids how much you make?

My kids never asked me. And I probably would have told them, and then showed them my budget. I was a single parent.
by Gnirk
Sat Jul 05, 2014 6:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you tell your kids how much you make?
Replies: 58
Views: 5926

Re: Long-Term Care Insurance? Is it a good idea?

Wait till you are 55 or so and see what LTC insurance looks like then. Do you have disability insurance? I don't know much about that, but along with my job I got 50% salary in case of disability. If you don't get that from an employer it might be a good thing to purchase for you and spouse. Not re...
by Gnirk
Wed Jun 25, 2014 7:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Insurance? Is it a good idea?
Replies: 24
Views: 1835

Re: Business owner retirement

We started taking a week to two weeks a month off for about 6 years, before we sold the business but we had an excellent manager. Our friends run their business from their snowbird home most of the year, meeting with their employees via FaceTime. They have an excellent office manager. When they are ...
by Gnirk
Sun Jun 22, 2014 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Business owner retirement
Replies: 3
Views: 392

Re: "Having the wealth transfer conversation"

Each of our over-40 kids know that they will inherit and share their biological parent's estate. They don't know the amount of our assets, and stepdaughter doesn't know hers will be in the form of a spendthrift trust. My children are probably aware they will inherit considerably less from me than th...
by Gnirk
Sat Jun 21, 2014 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Having the wealth transfer conversation"
Replies: 21
Views: 2984

Re: How do you spend your "fun money"?

None of the choices shown. I spend it on theater tickets (live performances--not movies), travel, and the occasional art class. DH spends his on golf and travel.
Neither of us gamble, unless we're in Vegas, and then we limit ourselves to $20 per day, and classify it as entertainment.
by Gnirk
Thu Jun 19, 2014 9:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do you -gamble- your "fun money"? (if you do)
Replies: 28
Views: 1499

Re: What to do with savings bonds

If they are earning interest at a good rate, you might want to leave them "as is", with detailed instructions for your Durable Power of Attorney. Cashing them will create an additional tax burden now. This is what I did with my mom's.
by Gnirk
Thu Jun 19, 2014 4:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with savings bonds
Replies: 3
Views: 414

Re: when the rubber hits the road

As others have suggested, the first thing to do, if not already done, is to draw up a Durable Power of Attorney, one for healthcare, and one for financial. In each, be sure to name both a primary and a secondary POA. The reason I say this is because my mother named only me as financial DPOA, which l...
by Gnirk
Wed Jun 18, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: when the rubber hits the road
Replies: 19
Views: 1837

Re: Should international travel impact your investments?

Never had a problem with food in France, England, the Netherlands, Germany or Switzerland…..most was very good, though the food in England tended to be rather boring, but we found a good Thai restaurant in London. In Paris, dinner often consisted of 3 to 7 small courses, beautifully presented and to...
by Gnirk
Wed Jun 18, 2014 2:50 am
 
Forum: Investing - Theory, News & General
Topic: Should international travel impact your investments?
Replies: 30
Views: 1871

Re: Seattle Restaurants

For burgers, agree with Red Mill (Phinney, Interbay or Ballard locations available). Good local steakhouses would include the a Metropolitan Grill, Daniel's Broiler and Jak's. Tons of great restaurants downtown, especially in the Belltown area. All the Tom Douglas places are good (Etta's Seafood, D...
by Gnirk
Wed Jun 18, 2014 2:33 am
 
Forum: Personal Consumer Issues
Topic: Seattle Restaurants
Replies: 17
Views: 1030

Re: [NY Times - brokers fight fiduciary obligation]

Some of us had to learn the hard way about brokers and where their interests really lie. Even when the broker is a friend, the broker still looks out for herself first. I knew nothing about investing in 1997, and believed that brokers looked out for their clients' best interests. :oops: So I gave my...
by Gnirk
Sat Jun 14, 2014 9:06 pm
 
Forum: Investing - Theory, News & General
Topic: [NY Times - brokers fight fiduciary obligation]
Replies: 54
Views: 5062

Re: Self Coverage in the Absense of Long Term Care Ins.

There are various stats available about the cost of LTC. One of the most telling stats is that 53% of people placed in nursing homes die within the first 6 months. The average length of stay is quoted at 2.7 years but a more useful stat is the median lenght of stay: 3 months for men and 8 months fo...
by Gnirk
Sat Jun 14, 2014 2:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Self Coverage in the Absense of Long Term Care Ins.
Replies: 13
Views: 1114

Re: "Costly Self-delusions": Happiness, Market Timing

As my mom told me: " Money doesn't bring you happiness, but it does give you a sense of security."
by Gnirk
Wed Jun 11, 2014 3:18 pm
 
Forum: Investing - Theory, News & General
Topic: "Costly Self-delusions": Happiness, Market Timing
Replies: 30
Views: 2147

Re: Named trustee on spendthrift trust

My husband's will stipulates his daughter's half of his estate will be in a spendthrift trust (about $1.4 million), with her brother as the trustee (he is an attorney, but had nothing to do with drawing up the trust except to ask his dad to bequeath her $100,000 up front from her half to "soft...
by Gnirk
Tue Jun 10, 2014 12:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Named trustee on spendthrift trust
Replies: 5
Views: 590

Re: Named trustee on spendthrift trust

My husband's will stipulates his daughter's half of his estate will be in a spendthrift trust (about $1.4 million), with her brother as the trustee (he is an attorney, but had nothing to do with drawing up the trust except to ask his dad to bequeath her $100,000 up front from her half to "softe...
by Gnirk
Mon Jun 09, 2014 7:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Named trustee on spendthrift trust
Replies: 5
Views: 590

Re: Pin and Chip Cards coming to the US

In Europe, your card never leaves your sight. At restaurants, the waitperson bring the credit card machine to your table. I was told several times, in different countries: "You Americans have no security with your credit cards". I would think the credit card companies would welcome the ch...
by Gnirk
Thu Jun 05, 2014 5:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Pin and Chip Cards coming to the US
Replies: 71
Views: 5043

Re: Pin and Chip Cards coming to the US

In Europe, your card never leaves your sight. At restaurants, the waitperson bring the credit card machine to your table. I was told several times, in different countries: "You Americans have no security with your credit cards". I would think the credit card companies would welcome the chi...
by Gnirk
Thu Jun 05, 2014 2:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Pin and Chip Cards coming to the US
Replies: 71
Views: 5043

Re: Poll: Luxury and Happiness

Business class to Europe was definitely a luxury, but well worth it to us in terms of comfort.
by Gnirk
Wed Jun 04, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Luxury and Happiness
Replies: 141
Views: 8106

Re: Living trust vs will

I used my Durable Power of Attorney to set up a revocable living trust for my mother who has Alzheimer's, only so there would be successor trustees. She named only me as Durable Power of Attorney and Executor of her will. I wanted to be sure someone else was in line to manage things if something hap...
by Gnirk
Tue Jun 03, 2014 11:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Living trust vs will
Replies: 26
Views: 2496

Re: what has biggest influence on your stock/bond ratio

noktem wrote:I suspect most would choose "age" if it were on there :)

Yup.
by Gnirk
Mon Jun 02, 2014 5:02 am
 
Forum: Personal Finance (Not Investing)
Topic: what has biggest influence on your stock/bond ratio
Replies: 27
Views: 1705

Re: Help with daughter's 401K

Thank you all. :)
by Gnirk
Fri May 30, 2014 9:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with daughter's 401K
Replies: 9
Views: 1012

Re: Pre-nup at only $1M networth, do I need it?

Yes. Divorce happens.
by Gnirk
Thu May 29, 2014 10:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pre-nup at only $1M networth, do I need it?
Replies: 199
Views: 12473

Re: Do you have a safe deposit box at a bank or credit union

I have both a safe deposit box, and a safe at home. The safe deposit box costs $20/year at my credit union,and holds mostly my elderly mother's papers. My brother and daughters have access to the box.
We keep our stuff in the home safe.
by Gnirk
Thu May 29, 2014 9:26 pm
 
Forum: Personal Consumer Issues
Topic: Do you have a safe deposit box at a bank or credit union?
Replies: 31
Views: 2344

Re: Help with daughter's 401K

I agree with OP revised and simplified allocations. This is the first time I've heard of a 401k that has an automatic rebalance feature (maybe I don't get out much). I'm just kind of curious about who the 401K custodian is that does the rebalancing, does the employee get charged a fee for the accou...
by Gnirk
Thu May 29, 2014 2:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with daughter's 401K
Replies: 9
Views: 1012

Help with daughter's 401K

My 46 yo daughter changed jobs a few months ago, and her company's 401K plan has quite a few offerings. Currently, she is in their moderately aggressive, automatically rebalanced (twice yearly) portfolio, as follows: Fund - Expense - Percentage invested Columbia Dividend Income Z .78 7% DFA Emerging...
by Gnirk
Wed May 28, 2014 5:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with daughter's 401K
Replies: 9
Views: 1012

Re: Worst "Large purchase" ever?

No regrets. The only time I've spent $10,000 or more is either a house or a car. In the past 45 years, I've bought 5 houses (due to moving to other areas, and a snowbird home), and 7 or 8 cars. Half of the cars were well under $10,000.
by Gnirk
Sat May 24, 2014 4:28 pm
 
Forum: Personal Consumer Issues
Topic: Worst "Large purchase" ever?
Replies: 110
Views: 11616

Re: Individual stocks and muni bonds in a three fund portfol

We have a considerable amount of money invested in high-grade muni bonds in our taxable account. As Vanguard Flagship members, we had Vanguard review all of our investments and develop a financial plan for us. They included the muni bonds as part of our overall bond allocation.
by Gnirk
Tue May 20, 2014 12:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual stocks and muni bonds in a three fund portfolio?
Replies: 9
Views: 737

Re: Any issues giving [relatively expensive] gifts to parent

Speaking for myself, I would at first find it difficult to accept such a gift from my children. As a parent, I've been accustomed to being the one who treats the kids (in their 40's now). It's hard to step out of that role. Finally, my oldest daughter said "mom, I make good money, I can pay for...
by Gnirk
Mon May 19, 2014 11:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any issues giving [relatively expensive] gifts to parents?
Replies: 11
Views: 932

Re: Mary Rowland opposes bond funds?!

Raymond wrote:Who is Mary Rowland, and why is her opinion on bond funds of more importance to me than my dog's? :confused

Ditto
by Gnirk
Sat May 17, 2014 11:38 pm
 
Forum: Investing - Theory, News & General
Topic: Mary Rowland opposes bond funds?!
Replies: 5
Views: 630

Re: West coast snowbird questions

Hi: I'm a born and bred PNW "girl", and would never live anywhere else. We are also snowbirds, who scoot out of the dreary winters to Indio, CA for some winter sunshine. We spend November in the desert, as well as Jan-April. We do the following when we head south: Forward mail Turn thermos...
by Gnirk
Sat May 17, 2014 11:25 pm
 
Forum: Personal Consumer Issues
Topic: West coast snowbird questions
Replies: 14
Views: 1253

Re: Parent in financial mess. General and SS timing advice

You are a caring son to want to help your mom. It's not easy, being the parent to your parent. I think it would be most beneficial for her to see a neuropsychiatrist, from the description of her behavior. And hopefully you can accompany her to the appointment, and she will sign a HIPAA waiver allowi...
by Gnirk
Sat May 17, 2014 12:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 35
Views: 2636

Re: Spending on Cars in Retirement

My DH has always had a love affair with cars. He's 75 years old, and has owned over 50 different cars. I don't think he's ever calculated how much it costs to buy/insure/operate them. Now that we are retired, he keeps them longer, trading them less frequently, and will buy a used car with low mileag...
by Gnirk
Fri May 16, 2014 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spending on Cars in Retirement
Replies: 47
Views: 2900

Re: Concern About Parent

Many from our parents' generation play their financial cards very close to their chest. My widowed mom didn't share anything until her dementia reached the point where she started missing payments for her utilities, couldn't balance her checkbook, and couldn't maintain her files. Until she actually ...
by Gnirk
Wed May 14, 2014 11:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Concern About Parent
Replies: 32
Views: 2615

Re: Concern About Parent

Our attorney advised my husband not to have POD or beneficiaries designated on his CDs or cash accounts, so the executor can use those funds for bill-payment and taxes ( including our state's estate tax), as necessary.
by Gnirk
Wed May 14, 2014 2:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Concern About Parent
Replies: 32
Views: 2615

Re: Moving Mom's accounts to VG under power of attorney

I used my Durable Power of Attorney to set up a Vanguard account for my mom. I then used the same DPOA to set up a revocable living trust for my mother (with me as trustee, plus two successor trustees), and then transferred the Vanguard account into her trust. Vanguard was easy to work with.
by Gnirk
Tue May 13, 2014 10:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Moving Mom's accounts to VG under power of attorney
Replies: 21
Views: 1555

Re: Article on Amish approach to personal finance

"It’s this incredible bone-deep thrift, which is not really stinginess. It’s a generous frugality. They will go to great lengths to re-use, re-cycle and re-purpose. They don’t do it to be green, they do it to be thrifty." Although not Amish, this is how my mom lived her life, which is why...
by Gnirk
Wed May 07, 2014 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Article on Amish approach to personal finance
Replies: 12
Views: 1957

Re: Snowbirds: Best Mail Forwarding Options?

We've been snow birding between Washington and the California Desert for15 years, and just use the regular "temporary change of address" service. However, I don't do it online, I fill out a form at the Post Office. Sometimes it takes over five days for the forwarded mail to reach us, but e...
by Gnirk
Wed May 07, 2014 4:53 pm
 
Forum: Personal Consumer Issues
Topic: Snowbirds: Best Mail Forwarding Options?
Replies: 24
Views: 1969

Re: Did you tell anyone you paid off your mortgage?

We've never been asked that question. But for the record, we paid cash for both our main home and snowbird home.
by Gnirk
Fri May 02, 2014 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 158
Views: 12228

Re: The slackening...

I can't say there were significant differences in their upbringing as regards money. There's some kind of addictive personality disorder related to excessive spending that kicks on some people but not others. Best way I can explain it... Yes, my DH has two adult children, both educated. One is very...
by Gnirk
Sun Apr 13, 2014 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 61
Views: 7904

Re: Why Americans are Retiring Overseas

Would never consider retiring outside of the US. Family means too much to us.
by Gnirk
Tue Apr 08, 2014 12:42 am
 
Forum: Personal Consumer Issues
Topic: Why Americans are Retiring Overseas
Replies: 109
Views: 11219
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