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Re: Elder & I Seeking Advice for Elder's Plan

I don't have any investment advice. But, please be sure the elder has his/her legal papers in place. These include a Durable Power of Attorney for Financial, a Durable Power of Attorney for Healthcare, a Healthcare Directive, and a will. The DPOAs are especially important if the elder is starting to...
by Gnirk
Wed Sep 17, 2014 1:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Elder & I Seeking Advice for Elder's Plan
Replies: 3
Views: 272

Re: Any success stories of ppl who never made >$50,000?

My parents never made anywhere near $50,000 per year, probably not even $25,000 per year, between them. And they retired in 1976. They saved, invested wisely, paid off their home, didn't believe in keeping up with the Joneses, whoever they are, were frugal and kept their cars until they died. They d...
by Gnirk
Tue Sep 16, 2014 8:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 135
Views: 7673

Re: The Roosevelts, PBS special

Watched it last night, and we are "taping" it tonight (DVR), so DH can watch baseball.
by Gnirk
Mon Sep 15, 2014 11:11 pm
 
Forum: Personal Consumer Issues
Topic: The Roosevelts, PBS special
Replies: 40
Views: 3171

Re: Gifting planning for upper 60s widowed.

If your mom is in her 60's, I don't think she should be gifting large amounts at this point. First of all, it looks like her expenses = income, right now. Does her pension have an automatic COLA? Is it locked in, or can the legislature remove the COLA if it so desires? It's great that she has LTCI, ...
by Gnirk
Fri Sep 12, 2014 11:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gifting planning for upper 60s widowed.
Replies: 19
Views: 1238

Re: Guidance moving to Seattle

I talked to my daughter, who lives in Seattle, about the "Seattle Freeze". Not so sure it isn't the same everywhere: people on their cells or tablets, listening to music, etc while riding the bus---so no conversations. However she suggested going to Meetup.com, and there's actually a group...
by Gnirk
Wed Sep 10, 2014 4:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Guidance moving to Seattle
Replies: 21
Views: 1914

Re: Poll: Which iPhone 6?

Neither. I like the size of my iPhone 5. I don't want a larger phone.
by Gnirk
Tue Sep 09, 2014 8:21 pm
 
Forum: Personal Consumer Issues
Topic: Poll: Which iPhone 6?
Replies: 41
Views: 2960

Re: Guidance moving to Seattle

'Seattle Freeze"? First I've heard of it so had to Google it. Wow. My adult daughters both live/work there,and moved to Seattle from where they grew up,(the state capitol) , and have had no problems making friends. That is the craziest thing I've ever heard. Disclosure: I was born and raised in...
by Gnirk
Mon Sep 08, 2014 6:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Guidance moving to Seattle
Replies: 21
Views: 1914

Re: Credit Card Account [Automatically Closed] due to inacti

I had a Nordstrom credit card for 40 years, but seldom used it in recent years because they no longer had a store that was convenient to us. Imagine my disappointment when I visited their flagship store in Seattle, and presented my credit card for my purchase, only to be told it was no longer valid ...
by Gnirk
Sun Sep 07, 2014 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Card Account [Automatically Closed] due to inactivity
Replies: 29
Views: 1906

Re: Think like a rich person

Zabar wrote:• Buying something "on sale" is not saving money; it's spending money.


WIsh I could teach that to my step-daughter!
by Gnirk
Sat Sep 06, 2014 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Helping someone] think like a rich person
Replies: 40
Views: 4143

Re: POLL: Has a financial firm made a mistake with your mone

Yes, my online savings account was debited to pay somebody's land-line phone bill in Arkansas. I had to go through every hoop you can imagine to "prove" to them that I didn't do it. I've never paid a bill from the account. And I've never even been in Arkansas, much less had a land-line pho...
by Gnirk
Sat Sep 06, 2014 10:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Has a financial firm made a mistake with your money?
Replies: 52
Views: 2631

Re: Where can I go to get a signature guarantee or Medallion

My credit union does Medallion Guarantee, up to $500,000, at no cost. Only the branch managers and assistant managers can do it, and you must be a credit union member.
by Gnirk
Fri Sep 05, 2014 8:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Where can I go to get a signature guarantee or Medallion sig
Replies: 21
Views: 1222

Re: Do I Even Need a Trust?

California has expensive probate based on value of the estate and with the price of real estate there and the lack of TOD title it sounds like a good candidate for a trust. We placed our California snowbird home into a Revocable Living Trust because of the high probate costs in California, and we l...
by Gnirk
Thu Sep 04, 2014 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I Even Need a Trust?
Replies: 31
Views: 1951

Re: Checklist of info to have on elderly parent?

Search for any and all insurance policies, including Long Term Care Insurance. If she has one, you don't want it to lapse because she forgot to pay it. If she has a safe deposit box, ask her to add your name to it. If your mom doesn't have her legal papers in order (durable power of attorney medical...
by Gnirk
Tue Sep 02, 2014 12:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Checklist of info to have on elderly parent?
Replies: 16
Views: 1480

Re: Alzheimer's and Prenup

I understand your dilemma. I am not an attorney, but may I offer a word of advice? Please change your legal documents NOW, and choose new people for your Durable Power of Attorney for both financial and medical, because he will be unable to act in that capacity. And perhaps a visit to someone who sp...
by Gnirk
Mon Sep 01, 2014 8:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's and Prenup
Replies: 20
Views: 2968

Re: Attitudes toward inheritances.

It's sad how people behave when there is an inheritance involved. When my widowed, childless great-aunt (M) died without a will, one of her sisters, Aunt C (another great-aunt) managed to get herself declared executor of the estate. However, before her sister died (she had terminal cancer and was &q...
by Gnirk
Sun Aug 31, 2014 8:42 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 113
Views: 10754

Re: Do you mix inheritance and earned money?

I will keep any inherited money separate. Second marriage, and whatever I don't need during my lifetime will be left to my two daughters from my first marriage.
by Gnirk
Sun Aug 31, 2014 12:25 am
 
Forum: Personal Consumer Issues
Topic: Do you mix inheritance and earned money?
Replies: 25
Views: 2199

Re: POLL: Breaking up with advisor

My advisor was a long-time friend, over 30 years. I turned to her many years ago when I had about $25,000 to invest. She bought some good individual stocks. She ended up selling those and buying some CEFs that turned out to be the worst ever, and I subsequently sold those. My husband and I then held...
by Gnirk
Sat Aug 30, 2014 1:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: POLL: Breaking up with advisor
Replies: 47
Views: 3127

Re: Anyone used Vanguard Flagship Services With Portfolio $1

One of the nice features of being a Flagship client is the ability to have other family members under your "Flagship Umbrella", which means they also get Flagship perks even though they don't have the $1mm invested at Vanguard. Yes, our daughters' Roth and TIRAs are linked, so no annual a...
by Gnirk
Sat Aug 30, 2014 12:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Anyone used Vanguard Flagship Services With Portfolio $1M+
Replies: 41
Views: 4314

Re: Are assets split in kind or liquidated on death?

[quote="Bob's not my name" No IRA or other tax-advantaged account?[/quote] Yes, she has a traditional IRA of about $23,000 at Chase Investments. You wouldn't believe the costs and expenses associated with their mm fund and their bond fund.....criminal! My brother and I are co-beneficiaries...
by Gnirk
Fri Aug 29, 2014 6:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Are assets split in kind or liquidated on death?
Replies: 12
Views: 648

Are assets split in kind or liquidated on death?

My sweet mom, who suffers from Alzheimer's Disease, just entered Hospice care, and I am trying to get things straight in my mind while I'm still thinking clearly, rather than waiting until I am an emotional wreck when she passes. So when I'm not spending time with her, I am researching what I will h...
by Gnirk
Fri Aug 29, 2014 1:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Are assets split in kind or liquidated on death?
Replies: 12
Views: 648

Leaving Ameriprise

We (DH and I) have had accounts with Ameriprise for years because our Advisor was a friend. (I should have listened to my mom when she told me years ago to never mix business and friendship). At this point our accounts hold only individual high quality muni bonds. Last year I sold all the bad closed...
by Gnirk
Tue Aug 26, 2014 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leaving Ameriprise
Replies: 10
Views: 1103

Re: Questions about Durable POA

In my opinion, there should always be a primary and a secondary AIF. What happens if there is only one AIF named, and he/she is unable to act as AIF? I was the only AIF named in my mom's DPOA. She became incapacitated due to Alzheimer's. I was concerned due to some health issues that there needed to...
by Gnirk
Thu Aug 14, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions about Durable POA
Replies: 4
Views: 410

Re: Wills, Spouses, Prenups, etc.

My husband and I have been married 19 years. When we were married, there was a great disparity between my assets (few)and his (many) and we each have children from a previous marriage. He is 6 years older than I. We signed a prenup, and each of us had our own attorney. I am the beneficiary on his mo...
by Gnirk
Tue Aug 12, 2014 8:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wills, Spouses, Prenups, etc.
Replies: 67
Views: 3802

Re: What Book Are You Currently Reading? Part V

The Boys in the Boat.
by Gnirk
Sun Aug 10, 2014 10:40 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 3347
Views: 1147356

Re: Where do you buy clothes?

Since we've been retired, DH buys socks, slacks, shorts, and most shirts from Costco.
I buy tees, shorts, jeans and pants at Chico's….whenever they have a significant (40% off) sale.
I buy shoes from Zappos.
I buy casual jackets from Costco.

My Nordstrom days are long gone.
by Gnirk
Sun Aug 10, 2014 10:28 pm
 
Forum: Personal Consumer Issues
Topic: Where do you buy clothes?
Replies: 105
Views: 9227

Re: Fear of Disclosing Net Worth

I would suspect "they" already know. If you spend time on the computer or buy with plastic, there is loads of data on your spending habits, your leisure time habits, etc. etc. etc. THEY KNOW ALREADY. I would not worry about it if you feel the need for financial advice. I don't agree with ...
by Gnirk
Sun Aug 10, 2014 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Fear of Disclosing Net Worth
Replies: 60
Views: 8202

Re: That sudden moment when Money is not a Problem

Sorry to know and indeed there is so much uncertainty ... Do everything in a reasonae manner. Do not over save to the extent you are missing the life. Life is a journey and not destination. Enjoy it all along. Very true. My dad was diagnosed with cancer during a routine checkup at the age of 65, an...
by Gnirk
Sun Aug 10, 2014 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: That sudden moment when Money is not a Problem
Replies: 33
Views: 6722

Re: Talk me in/out of buying a vacation house or condo...ple

Just say "no". Unless a vacation house is easily accessible by driving for an hour or two you probably won't use it after the first year or so. And seasonal renting can be a pain. And again, unless you have someone completely trustworthy to manage, clean ,repair, replace items it isn't wor...
by Gnirk
Sun Aug 03, 2014 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Talk me in/out of buying a vacation house or condo...please
Replies: 21
Views: 2750

Re: How often do you replace bath towels?

I buy two packs of Costco's white bath towels, 6 to a package, about once every two years. The same with wash cloths.
For "decorator" towels: I replace these when I feel like I want to change accent colors in the bathrooms. That could be anywhere from a year to five years!
by Gnirk
Sat Aug 02, 2014 6:48 pm
 
Forum: Personal Consumer Issues
Topic: How often do you replace bath towels?
Replies: 50
Views: 3979

Re: How to keep family informed

I have a list of all bank, credit union, financial accounts , health insurance, pensions, etc with the name, account number, address, phone, and contact if any, but no details as to the amounts in the accounts. Also the same for all recurring bills and how they are paid (direct from checking account...
by Gnirk
Wed Jul 30, 2014 12:01 am
 
Forum: Personal Finance (Not Investing)
Topic: How to keep family informed
Replies: 35
Views: 3271

Re: Wise to split $$ between Vanguard and advisor?

pkcrafter wrote:Welcome Baa,

An advisor is not going to pay attention to assets he isn't managing. He'll simply encourage you to put those assets under his care.


True, from family experience.
by Gnirk
Tue Jul 29, 2014 7:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wise to split $$ between Vanguard and advisor?
Replies: 38
Views: 2338

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: 994

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: 5734

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: 1238

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: 6463

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: 4376

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: 837

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: 1878

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: 394

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: 7835

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: 5175

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: 23209

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: 6277

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: 1894

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: 399

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: 3053

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: 1515

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: 421

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: 1916
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