Search found 1369 matches

by MN Finance
Wed Jul 01, 2015 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Rolling from Vanguard to another institution - unsatisfactory service
Replies: 15
Views: 819

Re: Rolling from Vanguard to another institution - unsatisfactory service

You can't find the forms because financial companies are under the deluded notion that the hurdles to make transfers out difficult create some benefit greater than the irritation it causes. By far the exception is fidelity who transfers money out very efficiently, and wins fans in the process.
by MN Finance
Wed Jul 01, 2015 8:37 pm
Forum: Investing - Help with Personal Investments
Topic: 59 1/2 ??
Replies: 3
Views: 477

Re: 59 1/2 ??

OK so 59 1/2 is the magically date to avoid the penalty in most cases. Is it the year in which you turn 59 1/2 or the actual day? The year. If you were born June 30th and turn 59.5 on December 30th you are considered qualified the entire year. You could take a distribution January 1st. Does the fir...
by MN Finance
Tue Jun 30, 2015 11:12 am
Forum: Personal Finance (Not Investing)
Topic: federal tax return rejected
Replies: 14
Views: 1769

Re: federal tax return rejected

Thanks for the replies. Despite living in a major metro area there was no live person available by phone in the local offices. I spent 45 mins waiting on the 800# and was instructed to file a return with an identity document. We'll see what happens. No refund due, so not in need for it to be resolve...
by MN Finance
Tue Jun 30, 2015 8:38 am
Forum: Personal Finance (Not Investing)
Topic: federal tax return rejected
Replies: 14
Views: 1769

Re: federal tax return rejected

I'm 40, married with 4 kids and have filed my own returns for 20 years, so there's no confusion here.
by MN Finance
Mon Jun 29, 2015 8:56 pm
Forum: Investing - Theory, News & General
Topic: Spending from separate retirement buckets
Replies: 21
Views: 1560

Re: Spending from separate retirement buckets

I just spent about 90 minutes developing spreadsheet for my pre-SS bucket accounting for all sorts of things between here and SS. Bottom line I now am confident at what rate of return I could retire tomorrow and have an comfortable life between now and when I would tap my post-SS bucket . So I can ...
by MN Finance
Mon Jun 29, 2015 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: federal tax return rejected
Replies: 14
Views: 1769

federal tax return rejected

I just tried to file my 2014 tax return through TT. It was rejected twice by the Feds. The reject states that I cannot file a return using a primary SSN that is listed as a dependent SSN on another return. This means that there's either an error, or that my SSN or my spouse's SSN is listed on someon...
by MN Finance
Mon Jun 29, 2015 7:01 am
Forum: Investing - Theory, News & General
Topic: Spending from separate retirement buckets
Replies: 21
Views: 1560

Re: Spending from separate retirement buckets

What happens when your bucket is empty? Your 5-7 year bucket had some stocks and Greece defaulted, so now there's not enough money. You fill it from another bucket. Then they're not really buckets just lane dividers on a pool. No sense in that.
by MN Finance
Tue Jun 23, 2015 6:25 pm
Forum: Investing - Help with Personal Investments
Topic: Stop funding Roth IRA
Replies: 23
Views: 2985

Re: Stop funding Roth IRA

Instead of guessing, you should include more background as the basis of your question. Assuming this isn't just an academic question, instead of asking why someone would do x, ask should I do x given my situation
by MN Finance
Sat Jun 20, 2015 4:15 pm
Forum: Investing - Theory, News & General
Topic: Any equivalent to TIAA traditional elsewhere?
Replies: 6
Views: 660

Re: Any equivalent to TIAA traditional elsewhere?

There are dozens of insurance companies that sell fixed annuities. The issue is that many have term periods with surrender penalties for early withdrawals and/or lower rates than TIAA. Their rate its attractive right now, and they can afford that because the point to entry is narrow. I don't have a ...
by MN Finance
Sat Jun 20, 2015 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Indirect Rollover with Stock Certificate
Replies: 9
Views: 800

Re: Indirect Rollover with Stock Certificate

There's a common strategy for taking company stock in the method you described, so unintentional as it may be, that's what they did. Your tax burden on the stock is equal to your cost basis plus a 10% early withdrawal fee if you're under 59.5. In order to fix this, you have to send that same amount ...
by MN Finance
Fri Jun 19, 2015 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio suggestion for toddler
Replies: 45
Views: 4125

Re: Portfolio suggestion for toddler

That's a cool idea, but when these questions are periodically asked I generally think they're short sited. I don't mean that as a dig on you, because the intent is great, but think through it. Your goal is probably to create financial security for your adult child, plus teach them something about in...
by MN Finance
Wed Jun 17, 2015 11:57 pm
Forum: Investing - Help with Personal Investments
Topic: My grandparents need their hodgepodge of investments sorted out
Replies: 14
Views: 1829

Re: My grandparents need their hodgepodge of investments sorted out

I missed the part about why you're getting involved, what they're asking you to do, when they signed the POAa, and how you plan to manage their money when they're incapacitated. There is zero upside of you getting in here. You risk making them even more uncomfortable than they already are with total...
by MN Finance
Wed Jun 17, 2015 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: A "taxing gifting" issue
Replies: 9
Views: 1209

Re: A "taxing gifting" issue

Before there are too many posts can you just clarify what you mean with respect to taxes? As the first reply indicated, a lot of what you said sounded inaccurate (which is probably just a matter of terminology not incorrect actions.) You said there was a tax hit and new basis when he gifted you the ...
by MN Finance
Wed Jun 17, 2015 8:56 pm
Forum: Investing - Theory, News & General
Topic: TIAA Real Estate Account as non-403(b) deferred annuity?
Replies: 10
Views: 786

Re: TIAA Real Estate Account as non-403(b) deferred annuity?

First, it's registered as an insurance account, so that would be the only real possibility. Second, the liquidity guarantee it receives from TIAA is all but mandatory to even offer something like this with virtually no liquidity restrictions. That probably couldn't be done anywhere except the retire...
by MN Finance
Wed Jun 17, 2015 1:02 pm
Forum: Personal Consumer Issues
Topic: How much do your children cost per month?
Replies: 83
Views: 6543

Re: How much do your children cost per month?

I don't have our figures on my phone but I can tell you that children under 4 are nearly free compared to children over 4. Of course you can spend nothing at every age, but depends what you value This is excluding daycare, I presume? Yes, sorry. We have a stay at home parent. I figure that amount i...
by MN Finance
Wed Jun 17, 2015 12:36 pm
Forum: Personal Consumer Issues
Topic: How much do your children cost per month?
Replies: 83
Views: 6543

Re: How much do your children cost per month?

I don't have our figures on my phone but I can tell you that children under 4 are nearly free compared to children over 4. Of course you can spend nothing at every age, but depends what you value
by MN Finance
Sat Jun 13, 2015 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Personal accounting software
Replies: 23
Views: 2901

Re: Personal accounting software

Is there a security difference in a web version or a CD version? (If I'm even using the correct terminology.) For ex if I load everything into mint, then my data is on their servers. If I buy quicken at costco, then I assume my data is local to my computer?
by MN Finance
Sat Jun 13, 2015 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Personal accounting software
Replies: 23
Views: 2901

Re: Personal accounting software

I just opened a mint account and I already can't stand the ads. I'd much rather pay money and not have to deal with junk. Any experience with Quicken?
by MN Finance
Sat Jun 13, 2015 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Dealing with the fear: "Will we be eating cat food?"
Replies: 90
Views: 13773

Re: Will we be eating cat food?

Agreed. You are obviously fine if you're both alive. You can find some simple software to verify if you want. Your primary risk is if/when your husband passes away. How large is the age gap? What exactly does the estate plan say? You should look at a) your expected expenses and b) your expected inco...
by MN Finance
Sat Jun 13, 2015 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Personal accounting software
Replies: 23
Views: 2901

Personal accounting software

What is the verdict on personal accounting software (non business.) I keep a fairly simple top-down family budget which works fine but I'd be interested in seeing a summary of actual spending. As well as tracking things like healthcare expenses for taxes (I never track healthcare expenses because as...
by MN Finance
Fri Jun 12, 2015 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Salvaging help please after Whole Life misrepresentation
Replies: 41
Views: 4431

Re: Salvaging help please after Whole Life misrepresentation

If someone has hired an RIA as an adviser, then that adviser must uphold a fiduciary standard. While it's possible for someone who is an RIA to sell insurance, what the OP describes would get a true RIA in a lawsuit. Namely, an annuity in an IRA, and selling a WL policy that is likely a MEC as a so...
by MN Finance
Fri Jun 12, 2015 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Salvaging help please after Whole Life misrepresentation
Replies: 41
Views: 4431

Re: Salvaging help please after Whole Life misrepresentation

...You were sold a life insurance policy and annuity by an insurance agent .... Isn't buying both an life insurance policy and an annuity like betting on both teams in the same game? Your academic question is valid and there are sometimes cases where you see this, but doesn't look at all like that ...
by MN Finance
Fri Jun 12, 2015 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: Individual stocks that have outperformed the market
Replies: 41
Views: 4183

Re: Individual stocks that have outperformed the market

This is not a good argument at all. Paraphrasing, you state that you think it's prudent to own stocks, with some caveats. Then you ask for stock recommendations. Does that argument seem backwards? Yes. I have no problem with anyone who claims some rational strategy for picking a few stocks and state...
by MN Finance
Fri Jun 12, 2015 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Salvaging help please after Whole Life misrepresentation
Replies: 41
Views: 4431

Re: Salvaging help please after Whole Life misrepresentation

Let's just step back for a minute, take a breath and come back to earth. You were sold a life insurance policy and annuity by an insurance agent (the fact that she has a CFP designation doesn't really enter the picture.) This is what insurance agents do. They sell insurance products. The fact that m...
by MN Finance
Thu Jun 11, 2015 7:42 am
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF help
Replies: 10
Views: 1010

Re: TIAA-CREF help

I can't speak to the annuity options because they vary. If you are annuitizing TIAA (in contrast to CREF) your payout will probably be superior in the current account compared to the IRA. In addition, you will want to check expenses. They just increased the expense of CREF funds in the IRA by about ...
by MN Finance
Wed Jun 10, 2015 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: I just don't understand bonds...
Replies: 17
Views: 2249

Re: I just don't understand bonds...

Bonds have historically had a higher return than cash. The expectation is that they have a higher expected return. It's not much more complicated. Two additional points. First, whatever your past observations are over 3 years is essentially meaningless in that it says nothing about long term expecta...
by MN Finance
Mon Jun 08, 2015 9:32 pm
Forum: Investing - Help with Personal Investments
Topic: Advice Needed: building a $20k portfolio for 25 y/o?
Replies: 21
Views: 1928

Re: Advice Needed: building a $20k portfolio for 25 y/o?

First, it probably doesn't matter how you invest the money in the context of your long term financial success/failure. The primary factor of long term success is more around personal finance (like savings rate.) Second, take only as much risk as you can and be assured you won't bail at the worst tim...
by MN Finance
Mon Jun 08, 2015 9:11 pm
Forum: Investing - Help with Personal Investments
Topic: Closed End Muni Bond Fund - Help!
Replies: 2
Views: 293

Re: Closed End Muni Bond Fund - Help!

If you don't already understand and know how to use closed end funds, then it's clearly not appropriate to invest in one. There are certainly some reasonable investors that use them with a reasonably sound argument, but they understand the risks (which are not inconsequential.) The most obvious risk...
by MN Finance
Mon Jun 08, 2015 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's car is having issues and under water :-/
Replies: 98
Views: 10464

Re: Wife's car is having issues and under water :-/

How can a 5 year old car be worth 5k, and how is it that there's a 7k loan?
by MN Finance
Wed Jun 03, 2015 6:09 pm
Forum: Personal Consumer Issues
Topic: I'm thinking about becoming a financial adviser...but I need some guidance.
Replies: 37
Views: 4517

Re: I'm thinking about becoming a financial adviser...but I need some guidance.

Garrett is just paid advertising. You pay 5k per year to be featured in their search engine. Most AUM advisors would be willing to pay, but true fee only planners (no aum) probably find that fee much too high. CFP is fine for formal education but it's still mainly window dressing. Just a college lev...
by MN Finance
Wed Jun 03, 2015 9:49 am
Forum: Personal Consumer Issues
Topic: I'm thinking about becoming a financial adviser...but I need some guidance.
Replies: 37
Views: 4517

Re: I'm thinking about becoming a financial adviser...but I need some guidance.

You have limited options. If you had some years of experience you could get hired as a salaried advisor for a quality RIA (quality meaning someone that doesn't screw investors.) You don't. In order to gain the experience mentioned above your only entry point is financial sales (which is still called...
by MN Finance
Mon Jun 01, 2015 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: Annuities the Fixed Index Annuity FIA
Replies: 30
Views: 2024

Re: Annuities the Fixed Index Annuity FIA

IMO, obviously Yes. But you will have to recognize the alternatives and conditions. You said the " could " word, 4 times. We changed the "could" to how to "make-it-happen". A $100,000 purchase , will be minimally worth in 10 years, Income account, $162,889 (5% compound...
by MN Finance
Sun May 31, 2015 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: Annuities the Fixed Index Annuity FIA
Replies: 30
Views: 2024

Re: Annuities the Fixed Index Annuity FIA

My wife and I will both retire early 63/60. I am looking to replace her income when she retires. I have a pension. We both have investments. I like the idea of the using the annuity for like a pension. Then we have the choice to take our money out of investments (when market is up) for big ticket i...
by MN Finance
Sun May 31, 2015 4:28 pm
Forum: Personal Consumer Issues
Topic: booking travel to Disney
Replies: 23
Views: 1979

Re: booking travel to Disney

February sounds good, even more appealing because that's really dead of winter, so the trip is worth slightly more to us then, than March would be. We're staying on site for sure for several reasons, but thanks for the alternative suggestions. We are taking our family plus two (to 4) other family me...
by MN Finance
Sun May 31, 2015 2:11 pm
Forum: Personal Consumer Issues
Topic: booking travel to Disney
Replies: 23
Views: 1979

booking travel to Disney

Next winter/spring (2016) I am taking the family to Disney in FL. Just wondering the most effective way to book the trip from those with experience (economically speaking). Fwiw, we did a trip once before, so know some of the ins/outs of the parks. In our favor: Our travel dates are entirely flexibl...
by MN Finance
Sun May 31, 2015 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Annuities the Fixed Index Annuity FIA
Replies: 30
Views: 2024

Re: Annuities the Fixed Index Annuity FIA

There's no magic here. Ignoring the complicated features and benefits, at the end of the day the return on the fia must be equal to the return on the insurance company's general account. I think we can assume that return to be between 3 and 4%. If that's what you're looking for, then so be it. Back ...
by MN Finance
Sat May 30, 2015 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: transfer taxes
Replies: 7
Views: 798

Re: transfer taxes

You're asking a narrow question, which has a simple answer (below 14k per person is not reportable, above is reportable, but still not taxable.) A better question would include explaining your objectives so you can get advice about how to best execute your plan. I could assume the gift is to accompl...
by MN Finance
Sat May 23, 2015 2:44 pm
Forum: Investing - Theory, News & General
Topic: Emerging market bond funds
Replies: 14
Views: 1528

Re: Emerging market bond funds

I dont know why you are comparing EM debt with the us stock market. Thats intersting but doesnt imply any ... anything. EM debt is not a free lunch. You are gaining systemic risk in EM markets. You are better off with a position in EM stocks and high quality short term fixed income. EM debt is highl...
by MN Finance
Fri May 15, 2015 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: IDGT and death of grantor = stepped up basis?
Replies: 2
Views: 199

Re: IDGT and death of grantor = stepped up basis?

I don't know, but Google appears to know.

Whoever set it up clearly has an understanding of boththe estate tax and income tax tradeoffs, so that's clearly the place to start.
by MN Finance
Tue May 12, 2015 6:44 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice: Especially with TIAA Real Estate
Replies: 21
Views: 1065

Re: Portfolio Advice: Especially with TIAA Real Estate

We allocate a defined position to real estate separate from stocks or bonds, but effectively weight it as a blend. For example a 50/50 portfolio would actually be 45/7 with the 7 being real estate (either 7 TIAA or 5/2 TIAA/REITS.) You may not want the monitor it that tightly yourself. If TIAA was n...
by MN Finance
Tue May 05, 2015 6:29 pm
Forum: Investing - Theory, News & General
Topic: best financial gift for very young child
Replies: 19
Views: 1847

Re: best financial gift for very young child

If you're trying to invest for them and give them future financial stability (you said use in 20 or 30 years) then you just open up an account in your name. It's clean and easy and you can later gift it to them when they understand it If you want to teach them about money (entirely different) then o...
by MN Finance
Thu Apr 30, 2015 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: SEPP 72(t) aggregate or separate IRAs?
Replies: 8
Views: 833

Re: Early withdrawls if still self employed

rjsob58 wrote:And that applies if I continue to earn income (self employed/1099)?

Yes, you separated from service. You just happen to consult for the same company. If you came back as W2, I don't know enough detail on the law to weigh in, but I would assume that's cloudy.
by MN Finance
Wed Apr 29, 2015 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: DFA as a new 401k option - Poll
Replies: 12
Views: 1002

Re: DFA as a new 401k option - Poll

We use DFA. In international and EM we choose them in small/value. In other spaces we use VG and Schwab. If you don't slice and dice, though, it doesn't make sense to add complication simply because you now have new options.
by MN Finance
Tue Apr 28, 2015 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: SEPP 72(t) aggregate or separate IRAs?
Replies: 8
Views: 833

Re: Early withdrawls if still self employed

If you separate from service in the year you attain 55 or later, then you can take withdrawals from that employers retirement account as though you are 59.5. Thats probably the simplest. Otherwise, yes you can 72t from just one small IRA
by MN Finance
Tue Apr 28, 2015 6:50 am
Forum: Investing - Help with Personal Investments
Topic: Hourly Financial Advisor -- Yeah, right!
Replies: 14
Views: 2397

Re: Hourly Financial Advisor -- Yeah, right!

I wouldn't agree to a 2 or 3 hour limit. It sounds like he did exactly the right thing. He set as phone call to determine the scope of work so as not to waste either of your time. In that call determined he needed to run a more typical engagement than 2 hours. You aren't willing topay it, so everyon...
by MN Finance
Mon Apr 27, 2015 6:03 pm
Forum: Investing - Theory, News & General
Topic: Spoke with a Schwab Representative...
Replies: 9
Views: 1921

Re: Spoke with a Schwab Representative...

This is vanguards decision, which share classes they allow to be sold on other platforms. It's obviously common that fund companies only allow limited access to some funds. Fwiw, if using schwab you might as well use their funds which are cheaper in some cases.
by MN Finance
Mon Apr 27, 2015 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: How to know what fees financial advisor is charging?
Replies: 12
Views: 870

Re: How to know what fees financial advisor is charging?

Posting the name of the company and funds she holds would make it pretty obvious, or you can just ask. Either is an option, but both seem pointless if you're leaving.
by MN Finance
Mon Apr 27, 2015 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving our financial advisor over a period of months
Replies: 33
Views: 2771

Re: Leaving our financial advisor over a period of months

Once you terminate your relationship the accounts now become self directed, as such retaining them in the current arrangement is no more beneficial than immediately moving them because the advisor cannot legally advise you further.
by MN Finance
Sun Apr 26, 2015 5:38 pm
Forum: Investing - Help with Personal Investments
Topic: RMD or QCD - Which has to come out first?
Replies: 7
Views: 643

Re: RMD or QCD - Which has to come out first?

There's no reason you can't just initiate the QCD now. If the provision is renewed, then it's a QCD. If it's not, then this just becomes a taxable distribution plus charitable contribution.
by MN Finance
Fri Apr 24, 2015 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Low Cost Adviser with Vanguard as Custodian?
Replies: 9
Views: 928

Re: Low Cost Adviser with Vanguard as Custodian?

MN Finance, Thanks for the comments. However, all that is taken care of. She wishes to focus on cost as well, is very on board with the way we manage our finances, and simply wants a few low cost advisers to consider as OPTIONS, not as something she is pressured into. If I leave her with no choices...

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