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Can Medicaid Look Back Here?

Interesting situation involving family members. Elderly aunt and uncle have no children. He's in bad shape and probably won't be around for much longer. She is frail but healthy. They have about $300,000, all in his name in POD accounts payable to a niece. Assuming Uncle goes first and Aunt soon the...
by Leesbro63
Fri Mar 06, 2015 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 0
Views: 124

Re: Help with letter from IRS about 2013 529 distribution

HoneyBee wrote:Thank you. I think I will go with the minimalist approach.


Good luck. The worst that can happen is they ask for more info. Let us know what happens.
by Leesbro63
Mon Mar 02, 2015 8:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with letter from IRS about 2013 529 distribution
Replies: 13
Views: 1042

Re: Managed Payout Funds

Thank you for this info. Nisiprius, esp thanks for that analysis. It would appear that the straight annuity is the best option for my mom.
by Leesbro63
Mon Mar 02, 2015 11:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Managed Payout Funds
Replies: 6
Views: 323

Managed Payout Funds

I consider myself fairly financially knowledgeable...mostly due to following this bulletin board for years. That being said, I admit that I know little about "managed payout funds" and would like to get a synopsis. For instance, for my aging mother, how would this be better/worse/different...
by Leesbro63
Mon Mar 02, 2015 10:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Managed Payout Funds
Replies: 6
Views: 323

Re: Foodsaver use

We use an attachment for ours along with Ball widemouth jars to prepare soup for freezing. We make large pots of veggie and bean soup and freeze 15 or so jars each time. We also make large pans of lasagna and vacuum seal meals. This works great for a quick diner, throw the frozen pouch in boiling w...
by Leesbro63
Mon Mar 02, 2015 7:13 am
 
Forum: Personal Consumer Issues
Topic: Foodsaver use
Replies: 27
Views: 1572

Re: Dividends and Market Slides

nedsaid wrote:People have to realize that the 2008-2009 financial crisis was a once in a lifetime event


Let's hope
by Leesbro63
Sun Mar 01, 2015 7:41 pm
 
Forum: Investing - Theory, News & General
Topic: Dividends and Market Slides
Replies: 55
Views: 3215

Re: Help with letter from IRS about 2013 529 distribution

I got one of these IRS demands for each of my daughter's four college years. And I always responded in a very minimalist way. I wrote on the IRS notice (sent back to the IRS by Certified Mail): "The 529 Plan withdrawals referenced here were used for qualified education expenses. <Name of My Dau...
by Leesbro63
Sun Mar 01, 2015 7:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with letter from IRS about 2013 529 distribution
Replies: 13
Views: 1042

Re: Foodsaver use

We use an attachment for ours along with Ball widemouth jars to prepare soup for freezing. We make large pots of veggie and bean soup and freeze 15 or so jars each time. We also make large pans of lasagna and vacuum seal meals. This works great for a quick diner, throw the frozen pouch in boiling w...
by Leesbro63
Sun Mar 01, 2015 5:39 pm
 
Forum: Personal Consumer Issues
Topic: Foodsaver use
Replies: 27
Views: 1572

Easier Capital Gains Reporting (In Some Cases)

I just saw this on the Fairmark tax forum. The short summary is that you can now just report totals for multiple capital gains transactions if the brokerage reports totals (Sales Proceeds and Cost Basis) and there are no adjustments: http://fairmark.com/investment-taxation/capital-gain/capital-gains...
by Leesbro63
Sun Mar 01, 2015 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Easier Capital Gains Reporting (In Some Cases)
Replies: 1
Views: 169

Re: Investing 1 Mill for 75 year old parent

At that age, you might consider annuitizing some of the money. The payout will be higher than anything fixed income, and if she lives a very long time the money will continue. I am also in Pittsburgh. There are some assisted living places here that will keep you, later on, if your money runs out ass...
by Leesbro63
Sun Mar 01, 2015 2:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing 1 Mill for 75 year old parent
Replies: 18
Views: 1670

Re: Need a CFP in Pittsburgh Area

I listen to Jim Lange, in Squirrel Hill (Pittsburgh) on these podcasts. If I wasn't a do-it-myself-er, I'd probably hire him:

PODCASTS of RADIO SHOW: http://www.paytaxeslater.com/radioshow.php

HIS FULL WEBSITE: http://www.paytaxeslater.com/
by Leesbro63
Sun Mar 01, 2015 11:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Need a CFP in Pittsburgh Area
Replies: 3
Views: 183

Re: How to Figure Step-Up Basis for Traditional Mutual Fund

I don't disagree. But am surprised that this is not a "generally known" answer. People die with mutual funds all the time. Perhaps Alan S. will chime in.
by Leesbro63
Sat Feb 28, 2015 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Figure Step-Up Basis for Traditional Mutual Fund
Replies: 9
Views: 374

Re: How to Figure Step-Up Basis for Traditional Mutual Fund

It's still not clear. Based on Mel's reply, it would suggest that the basis would be the prior day's closing price if the person died before 4PM EST on a date in which the markets were open. But would be the closing price on the exact date of death if death occurred after 4PM. The other post by Gill...
by Leesbro63
Sat Feb 28, 2015 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Figure Step-Up Basis for Traditional Mutual Fund
Replies: 9
Views: 374

How to Figure Step-Up Basis for Traditional Mutual Fund

I know that to figure the step up basis for stocks (including, I assume, ETFs), you average the high and low prices on the date of death. What about traditional mutual funds? There is no high and low...just prior close and close on the date of death. Do you average those or just use the closing pric...
by Leesbro63
Sat Feb 28, 2015 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Figure Step-Up Basis for Traditional Mutual Fund
Replies: 9
Views: 374

Re: What are Costco's best deals?

boroc7 wrote:I just ate one of the salmon burgers that someone recommended here. Not bad at all! Now time to pass out reading Bogleheads...


We pretty much gave up ground meat when the pink slime thing hit a few years ago. These salmon burgers have been a great substitute.
by Leesbro63
Fri Feb 27, 2015 7:30 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 177
Views: 13491

Re: Inheritance Tax Question

What state? A few, like Pennsylvania, have an inheritance tax. The PA inheritance tax rate in this case is 15%.
by Leesbro63
Fri Feb 27, 2015 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inheritance Tax Question
Replies: 8
Views: 422

Re: Is a generator worth it?

If you go the portable generator route you might consider what I did: Had the furnace wiring changed so that it "plugs in" and can be plugged into the generator extension cord. I have a gas furnace but it still requires electricity for the motor and electronics. This set up will keep the f...
by Leesbro63
Thu Feb 26, 2015 5:28 pm
 
Forum: Personal Consumer Issues
Topic: Is a generator worth it?
Replies: 105
Views: 5307

Re: Is a generator worth it?

I have a portable one that cost about $700. It's been very worthwhile as we, too, get a few outages per year. The downside is that you have to keep fresh gas around and must run it every 4-6 weeks. Are you willing to do all that?
by Leesbro63
Thu Feb 26, 2015 3:22 pm
 
Forum: Personal Consumer Issues
Topic: Is a generator worth it?
Replies: 105
Views: 5307

Re: Fidelity 1099

I second the comment just above. My experience has been that until a few years ago, brokerages notoriously reported "CORRECTED" Forms 1099 as late as the first week of April. That was back when the deadline to send Forms 1099 to taxpayers was Jan 31st. A few years ago the IRS extended that...
by Leesbro63
Thu Feb 26, 2015 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity 1099
Replies: 7
Views: 567

Re: Luxury Car

Don't mind spending medium bucks up front. Hate high maintenance costs. I'm eyeing the new Lexus nx hard. The GS would be a splurge. This given I need 4 doors and boot space Also shop the Lexus RX hard. The RX can be had with reasonable discounts...the NX, which is new, not so much. Oddly the gas m...
by Leesbro63
Tue Feb 24, 2015 8:39 pm
 
Forum: Personal Consumer Issues
Topic: Luxury Car
Replies: 81
Views: 5471

Re: Ting Begins Offering GSM Service

And Clark Howard mentioned this...it's Verizon's "off brand" on the cheap: http://www.totalwireless.com/wps/portal/home
by Leesbro63
Tue Feb 24, 2015 8:36 pm
 
Forum: Personal Consumer Issues
Topic: Ting Begins Offering GSM Service
Replies: 2
Views: 273

Re: Luxury Car

hicabob wrote:
abuss368 wrote:How about the Apple iCar?


Image


EDIT: Sorry about this misquote/double post. A mobile phone posting error. Maybe the moderator can remove this.
by Leesbro63
Mon Feb 23, 2015 9:20 am
 
Forum: Personal Consumer Issues
Topic: Luxury Car
Replies: 81
Views: 5471

Re: Luxury Car

This is an easy one: Lexus L series hands down. Currently would be the LS460. It's basically the efficient frontier of luxury car, imo. Sure you can spend more to get BMW/Benz, but imo by that end you are just spending for the brand/badge. You're getting essentially the same things in these top-tie...
by Leesbro63
Mon Feb 23, 2015 9:20 am
 
Forum: Personal Consumer Issues
Topic: Luxury Car
Replies: 81
Views: 5471

Re: UGA: Locking in the Current Price of Gasoline

Leeraar wrote:Let me see, $5,000 per year at $2 per gallon is 2,500 gallons at 30 mpg is 75,000 miles at 30 mph is 2,500 hours is more than most people work in a year. What do you do other than drive?

L.


Multiple drivers/vehicles.
by Leesbro63
Fri Feb 20, 2015 8:17 pm
 
Forum: Investing - Theory, News & General
Topic: UGA: Locking in the Current Price of Gasoline
Replies: 15
Views: 1261

Re: TDAmeritrade Forms 1099 Late

aelfa wrote:Turbo Tax (online) is experiencing an error upon import from TD Ameritrade. Word on the TT forum is that it's a problem on TT's side and will be resolved by EOD.


So can't you just manually input it? I agree, however, that if you have lots of trades that might not be worth the hassle.
by Leesbro63
Fri Feb 20, 2015 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: UGA: Locking in the Current Price of Gasoline

I've been watching UGA for a few years and it does track the price of gas. Sometimes it gets a little ahead or behind, but not by much. It seems like a good approximate proxy. If I did this, I'd probably sell enough every 3 months to cover the next 3 months.
by Leesbro63
Fri Feb 20, 2015 10:51 am
 
Forum: Investing - Theory, News & General
Topic: UGA: Locking in the Current Price of Gasoline
Replies: 15
Views: 1261

UGA: Locking in the Current Price of Gasoline

I am thinking about buying $25,000 worth of the ETF "UGA", which tracks the price of gasoline. At current prices, we'll use about $5000 worth of gasoline per year. This would "lock in" about 5 years of gas at today's prices. The two downsides I can think of are potential capgains...
by Leesbro63
Fri Feb 20, 2015 9:51 am
 
Forum: Investing - Theory, News & General
Topic: UGA: Locking in the Current Price of Gasoline
Replies: 15
Views: 1261

Re: TDAmeritrade Forms 1099 Late

Mine just showed up too
by Leesbro63
Thu Feb 19, 2015 8:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: Does anyone like the new Toyota/Lexus grilles?

I drive the Corolla not the Camry, but when i searched for cars in 2014 I disliked the Corolla grille so much I was ready to switch to something else. But after checking out similar cars, I came back to the Corolla and decided to let the grille issue go. One nice surprise, I don't know if you're in...
by Leesbro63
Thu Feb 19, 2015 12:06 pm
 
Forum: Personal Consumer Issues
Topic: Does anyone like the new Toyota/Lexus grilles?
Replies: 60
Views: 3626

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? What makes you think that Bogle didn't do that? I'l...
by Leesbro63
Thu Feb 19, 2015 10:34 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9680

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? What makes you think that Bogle didn't do that? I'l...
by Leesbro63
Thu Feb 19, 2015 10:20 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9680

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. We are on a forum celebrating a man that saved us 1-2% in fees every year. That is fine and Jack is great. How much do you think Dave is saving people when he motivates them to wake up from their financial stupor and get out of debt? Car payments that they cannot affo...
by Leesbro63
Wed Feb 18, 2015 10:14 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9680

Re: 5 by Power 5 rule on a trust?

Why stop after your kids instead of letting it roll down the family tree? Generations from now, your descendants will be toasting your legacy.. I'm not sure about this. For most, a great grandparent is just an old photo on the wall. I'm inclined to think that beyond grandkids, there is no emotional...
by Leesbro63
Wed Feb 18, 2015 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: 5 by Power 5 rule on a trust?
Replies: 17
Views: 1737

Re: TDAmeritrade Forms 1099 Late

And mine came from the buyout of National Discount Brokers.
by Leesbro63
Wed Feb 18, 2015 3:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: TurboTax Treatment of Capital Gains & Dividends

It's always interesting to see what the ACTUAL tax rate is on different forms of marginal income. Phase out of child credits, education credits and others that I'm unfamiliar with etc often make the real rate different (in my experience "more") than what is expected.
by Leesbro63
Wed Feb 18, 2015 3:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax Treatment of Capital Gains & Dividends
Replies: 10
Views: 660

Re: TDAmeritrade Forms 1099 Late

I'm in the same boat, with one of three of my TDA accounts. The other two came in a while ago - one in late January and one in early February. This third account, my "newest" of the three, has also always taken the longest. If I had to guess, they probably crank them out in ascending acco...
by Leesbro63
Wed Feb 18, 2015 2:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: TDAmeritrade Forms 1099 Late

I just called and they said they weren't sending them/posting them until Friday. Not the end of the world, but annoying.
by Leesbro63
Wed Feb 18, 2015 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: TDAmeritrade Forms 1099 Late

artiegene wrote:I have my 1099's. The statement date says 1/25/15. Not sure when I received them. I probably had them by the first week of Feb. Might be worth a call to Ameritrade.


Really? Wow. Thanks. I'll call them soon.
by Leesbro63
Wed Feb 18, 2015 7:06 am
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: Dave Ramsey Lashes Out at His Financial Critics

Why does everyone here keep bashing Dame Ramsey? It is like pointing out that salads at McDonalds are not healthy. Yes, any educated person understands that quality ingredients are paramount to eating healthy. And if you want to eat healthy, fast food restaurants are not appropriate. But if someone...
by Leesbro63
Wed Feb 18, 2015 6:02 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9680

TDAmeritrade Forms 1099 Late

Anyone else waiting for a TDAMeritrade Form 1099-Consolidated? I noticed on their web site it says they'll be online and mailed by the end of Feb. Wasn't Feb 17th (yesterday) the IRS required due date? Last year my records show I got it on Feb 11th. What's up?
by Leesbro63
Wed Feb 18, 2015 4:56 am
 
Forum: Personal Finance (Not Investing)
Topic: TDAmeritrade Forms 1099 Late
Replies: 25
Views: 1710

Re: The Non-Millionaire Next Door

I think it's about value and utility of wealth. I'd rather fund a grandchild's 529 plan than buy a second home. I'd rather help a struggling but worthy relative pay off his/her house than take a $20,000 cruise.
by Leesbro63
Tue Feb 17, 2015 12:11 pm
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: New Lexus NX Not an Economy Bargain

I know people complain about the look. That is strictly because it is new. In 6 months after you have seen a dozen of them driving around, they will not be shocking. +1 I remember when the first Nissan Murano came out...I thought to myself "Who would buy THAT?". Now I would (although I'm ...
by Leesbro63
Tue Feb 17, 2015 11:34 am
 
Forum: Personal Consumer Issues
Topic: New Lexus NX Not an Economy Bargain
Replies: 38
Views: 3049

Re: The Non-Millionaire Next Door

Recently a spendthrift relative told me about a friend who opened a restaurant and was doing quite well. The relative commented: "he has a Mercedes, a boat and a private plane". My response caused this relative to pause with a dumbfounded look and no reply. And it's now my new response to ...
by Leesbro63
Tue Feb 17, 2015 11:29 am
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6246

Re: Rental Car Prices - is this the new normal ?

I just got back from south Florida. The best price I could get for a week for a standard car was $465 via NATIONAL. The rest were in the $600 range. By reading here, I learned about COSTCO TRAVEL. I'm a Costco member, but never thought about their travel site. I ended up getting an Alamo SUV for $25...
by Leesbro63
Tue Feb 17, 2015 9:08 am
 
Forum: Personal Consumer Issues
Topic: Rental Car Prices - is this the new normal ?
Replies: 89
Views: 7858

Re: New Lexus NX Not an Economy Bargain

A-Commoner wrote: If I wanted to save 20 cents here or there (or even $50), i would eat at taco bell instead of a halfway decent restaurant. Or I would wear my 1990s ties instead of my 2010s ties. There are lots of places to save.


TIES? Do people still wear them? :wink:
by Leesbro63
Tue Feb 17, 2015 8:38 am
 
Forum: Personal Consumer Issues
Topic: New Lexus NX Not an Economy Bargain
Replies: 38
Views: 3049

Re: New Lexus NX Not an Economy Bargain

I think you expect to trim performance switching to lower octane, but it is in the range that you cannot feel it. Usually, the car will adjust and should be fine with either regular or premium. But if it starts to knock when switching to regular, then you want to switch it back to premium. It's per...
by Leesbro63
Mon Feb 16, 2015 9:20 pm
 
Forum: Personal Consumer Issues
Topic: New Lexus NX Not an Economy Bargain
Replies: 38
Views: 3049

Re: $3M Portfolio. Simplify almost all taxable account?

You need to beware that with a large taxable portfolio, eventually (unless the world ends), you will stuck with the portfolio you set up/have now. Especially if you are still working. Because the tax cost to rebalance and buy/sell stuff will be too great. It's a good problem to have. So set up a por...
by Leesbro63
Mon Feb 16, 2015 6:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: $3M Portfolio. Simplify almost all taxable account?
Replies: 10
Views: 2149

Re: Pfau: Four Risks of Retirement Income

So the REAL SWR is .47%?
by Leesbro63
Mon Feb 16, 2015 8:23 am
 
Forum: Investing - Theory, News & General
Topic: Pfau: Four Risks of Retirement Income
Replies: 31
Views: 4338

Re: Read WSJ every day ?

For what it's worth, there is a very cheap (relative to the regular price) student rate. If you have a student in the family, perhaps that student could subscribe and let you "borrow" his/her password.
by Leesbro63
Mon Feb 16, 2015 8:20 am
 
Forum: Personal Consumer Issues
Topic: Read WSJ every day ?
Replies: 86
Views: 4994

Re: New Lexus NX Not an Economy Bargain

Probably should compare the NX to the RX 330 (not the RX 350) in terms of fuel economy...since the NX and 330 are the same size, while the 350 is bigger. All the more reason it makes no sense that the NX gets the same economy as the larger, heavier RX350 (when adjusting for the .40 extra for premiu...
by Leesbro63
Mon Feb 16, 2015 8:13 am
 
Forum: Personal Consumer Issues
Topic: New Lexus NX Not an Economy Bargain
Replies: 38
Views: 3049
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