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Re: Advice for how to fund my wedding

I realize the expense of $45,000 is not up for discussion, but I can't help but wonder how you got within 90 days of this coming to fruition without a clear idea as to how you were going to manage this expense. As others have said, good luck to you. Come back in a few years and tell us how the stand...
by Retread
Tue Jul 08, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice for how to fund my wedding
Replies: 54
Views: 2971

Re: Elderly Parents - Putting Home into Life Estate?

What are the advantages set forth by the attorney? I can't think of any.
Bruce
by Retread
Sat Jul 05, 2014 9:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Elderly Parents - Putting Home into Life Estate?
Replies: 13
Views: 1570

Re: After death, is an HSA still an HSA?

bnes wrote:If funds are left in an HSA after death, the basis is stepped up.

What makes you think the basis is stepped up? Isn't this an ordinary income asset which receives no change in basis as the result of death?
Bruce
by Retread
Wed Jul 02, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: After death, is an HSA still an HSA?
Replies: 9
Views: 1238

Re: homeowners ins deductible

If you can afford the loss, take the highest deductible available. I've always done that with all types of insurance including homeowners, auto and medical. Over time it's cost me very little and saved me tens of thousands.
Bruce
by Retread
Wed Jul 02, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: homeowners ins deductible
Replies: 7
Views: 812

Re: Help with inheritance for disabled brother-in-law

I'm wondering how anyone can do anything about this. Apparently he hasn't been declared incompetent and is an adult. I would think he can do anything he wishes with the money and no one can do anything about it. You state your goals for the money, what are "T's" goals?
Bruce
by Retread
Wed Jul 02, 2014 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance for disabled brother-in-law
Replies: 6
Views: 574

Re: How many Bogleheads golf?

Offshore wrote:Love it! Not a great player. Currently at 14 handicap index. Play >25 rounds per year.

14 ain't bad for 25 rounds a year!
Bruce
by Retread
Mon Jun 30, 2014 3:43 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: How many Bogleheads golf?

here on the East coast we do not have the intense heat issue, it might be all mental but the home construction people have made it a point to get the word out that temps in the 80's & 90's are really quite pleasant. Might be why the golfers are also in their 80's & 90's :mrgreen: You are pu...
by Retread
Mon Jun 30, 2014 3:19 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: How many Bogleheads golf?

not a golfer but I understand in my South Florida area you are required to use a cart - I guess the concern is for the golfer actually finishing play during hot spells; and to get the extra fee :evil: You're right, at least at most of the clubs with which I'm familiar. Many of the courses aren't re...
by Retread
Mon Jun 30, 2014 11:40 am
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: How many Bogleheads golf?

Can someone point me to the link (or text from Bogle) that suggests not doing things you like because they cost money is part of the Boglehead philosophy? I expect more Bogleheads than average play golf. Why? Because of an oversampling of rich white men. There is a big difference between living bel...
by Retread
Sun Jun 29, 2014 4:51 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: How many Bogleheads golf?

abuss368 wrote:Florida golf sounds incredible. We have often visited the Sarasota Siesta Key area and always love the experience. Are you in the Tampa area or further south of Sarasota near Naples?

See PM
Bruce
by Retread
Sat Jun 28, 2014 5:53 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: How many Bogleheads golf?

I guess I'm the odd duck here. I live on a golf course in a Florida country club community. I lease a cart from the club, can be on the first tee in two minutes, and play four times a week year round or about 200 rounds a year. Obviously it's my main hobby, although it wasn't always. I almost hate t...
by Retread
Sat Jun 28, 2014 5:15 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4614

Re: Transfering inherited assets in-kind to Vanguard Brokera

I agree with Livesoft. It makes no sense to distribute in kind. Sell, distribute cash and let the beneficiaries invest on their own. This is the procedure I followed in estates I administered over a 35 year career with corporate fiduciaries.
Bruce
by Retread
Thu Jun 26, 2014 9:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Transfering inherited assets in-kind to Vanguard Brokerage
Replies: 13
Views: 555

Re: Who to contact for RMD strategy?

I don't know how much strategy is involved. You can take it any time of year you wish, or in multiple installments, but once you are in the RMD status there is not much wiggle room. Keep your basis in mind if you happen to have basis when reporting the RMD.
Bruce
by Retread
Thu Jun 26, 2014 2:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who to contact for RMD strategy?
Replies: 18
Views: 1493

Re: Am I Nuts?

He's 31 and self employed taken from an earlier post. Yes, a bit nuts also...
Bruce
by Retread
Thu Jun 26, 2014 8:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Am I Nuts? [Purchased "forever house," planning addition]
Replies: 34
Views: 2844

Re: Why is lump sum payout for pension so low?

The Wizard wrote:Would be nice if it could be rolled over into your IRA, but I don't think that's possible.

You might consider studying this area a bit more. It most certainly can be rolled into an IRA.
Bruce
by Retread
Wed Jun 25, 2014 9:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why is lump sum payout for pension so low?
Replies: 20
Views: 1890

Re: Pool Maintenance Cost

I have a pool in Florida and have had one in five different homes over the last 37 years. For the first 30 years I took care of it myself, but I now use a pool service that comes every week year round and charges $80 a month. Naturally, a pool will cost more than that over the years as pumps have to...
by Retread
Wed Jun 25, 2014 5:07 pm
 
Forum: Personal Consumer Issues
Topic: Pool Maintenance Cost
Replies: 14
Views: 1258

Re: Reducing Expenses for Future Family

Working2notWork wrote:I'm happy with the ~$1,200/year savings...

The point is, $1,200 a year ain't going to cut it...
Bruce
by Retread
Mon Jun 23, 2014 5:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reducing Expenses for Future Family
Replies: 77
Views: 3355

Re: Reducing Expenses for Future Family

This "adventure" is a lifelong commitment and you are looking at serious money. $1,200 a year will only scratch the surface. Found this quote for you: From day care to the monthly grocery bill, the cost of raising a child is climbing at a rate that many families can't keep up with. It will...
by Retread
Mon Jun 23, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reducing Expenses for Future Family
Replies: 77
Views: 3355

Re: [Poll] Have you taken any Investments course?

Wharton School degree. I guess I did. Can't remember. :oops:
Bruce
by Retread
Fri Jun 20, 2014 5:36 pm
 
Forum: Investing - Theory, News & General
Topic: [Poll] Have you taken any Investments course?
Replies: 60
Views: 3035

Re: Living trust vs will

I'm always surprised that there isn't more mention of the lifetime benefits of a living trust. I spent my career as an attorney/executive in the trust business, and was often part of the smooth transition that takes place through the use of a living trust when the grantor becomes unable to manage hi...
by Retread
Thu Jun 19, 2014 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Living trust vs will
Replies: 26
Views: 2734

Re: Defer capital gain when moving bond from taxable to IRA

bnes wrote:Sorry, no.
But you can donate appreciated securities without paying the tax.

...that is, to charity.
Bruce
by Retread
Thu Jun 19, 2014 9:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Defer capital gain when moving bond from taxable to IRA
Replies: 5
Views: 404

Re: Stepped up basis question

ajcp wrote:I'm not an expert, so maybe I'm wrong here, but this sounds like tax evasion to me.

It's not tax evasion, but it's an idea full of risk.
Bruce
by Retread
Wed Jun 18, 2014 5:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stepped up basis question
Replies: 7
Views: 529

Re: Retirees: Equity holdings of 90%+

Holding 100% equities is more common than you think. Much of my life was spent administering decedent's estates, and it's surprising how often those estates were almost entirely equities. I'm sure many of those had no idea what they were worth.
Bruce
by Retread
Wed Jun 18, 2014 4:01 pm
 
Forum: Investing - Theory, News & General
Topic: Retirees: Equity holdings of 90%+
Replies: 14
Views: 1636

Re: Purchasing new home from parents

I wonder if it would be better to pay $275K for it and have them just gift $55K back to you. Then, use the $55K to pay off the mortgage. Your cost basis on the house would then go up to $275K. Lower capital gains and higher deduction of losses? Not likely to be a taxable gain and any loss would not...
by Retread
Tue Jun 17, 2014 9:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Purchasing new home from parents
Replies: 7
Views: 958

Re: Should we or shouldn't we make a move at this age?

I admittedly have no experience in this area, but a 650k house on a 100k combined income just seems awfully extravagant. I disagree but we are likely in different locations...... 650K is hardly a mansion around here. Tough change for same area and no other change.... It would depend on other saving...
by Retread
Mon Jun 16, 2014 5:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should we or shouldn't we make a move at this age?
Replies: 37
Views: 2974

Re: Should we or shouldn't we make a move at this age?

The consensus seems to be you simply can't afford it. It is too expensive a house for your income.
Bruce
by Retread
Mon Jun 16, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should we or shouldn't we make a move at this age?
Replies: 37
Views: 2974

Re: Large Inheritance

She is the sole beneficiary of a 12M brokerage acct... Sam, It would help to know a bit more about the estate. Your question implies there is a POD on a brokerage account and she is the beneficiary. I suspect, however, that a person with a brokerage account that size also has other assets that need...
by Retread
Fri Jun 13, 2014 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Large Inheritance
Replies: 8
Views: 1559

Re: To own at least 1 share of every company in SP500

The fact that you asked about owning "one stock" of every company seems to indicate perhaps you might direct more of your attention to the basics of corporate structure and share ownership. Bruce Why so condescending? Have you considered the possibility that I made a mistake while typing?...
by Retread
Mon Jun 09, 2014 9:41 pm
 
Forum: Investing - Theory, News & General
Topic: To own at least 1 share of every company in SP500
Replies: 27
Views: 2266

Re: To own at least 1 share of every company in SP500

The fact that you asked about owning "one stock" of every company seems to indicate perhaps you might direct more of your attention to the basics of corporate structure and share ownership.
Bruce
by Retread
Mon Jun 09, 2014 9:24 pm
 
Forum: Investing - Theory, News & General
Topic: To own at least 1 share of every company in SP500
Replies: 27
Views: 2266

Re: Home Mortgage question for a 60 year old

Got a 30-year at 70. Remarked at the closing that I'd be 100 when it was paid off. No problems.
Bruce
by Retread
Sun Jun 08, 2014 7:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage question for a 60 year old
Replies: 12
Views: 1304

Re: What would you do with 1million

This is part of a 28 million NJ muni portfolio of which 4 million is in VNJUX, the rest in individual muni bonds. Retirement funds in individual corporate bonds. I'm 58 years old, working a bit less and have more time to think about this In other words, your original question relates to only 3.6% o...
by Retread
Wed Jun 04, 2014 9:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: What would you do with 1million
Replies: 17
Views: 2033

Re: Solar panels, are they worth it?

Just want to echo the thoughts of others that this is an enormous amount of power consumption. We live in South Florida year round in a 4,250 square foot house with two units running and our high consumption last summer was 2,750 kwh.
Bruce
by Retread
Wed Jun 04, 2014 4:37 pm
 
Forum: Personal Consumer Issues
Topic: Solar panels, are they worth it?
Replies: 53
Views: 5532

Re: Can a dead woman take her RMD?

Professor Emeritus wrote:Without getting into the rest of it. Mens rea is a term 'derived" from Latin but with a specific English language legal meaning.



Cf. Subpoena , impromptu, verbatim , pro Rata, Habeus Corpus , versus etc. etc etc


Yes, Professor, I know. :)
Bruce
by Retread
Wed Jun 04, 2014 6:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Can a dead woman take her RMD?
Replies: 47
Views: 3461

Re: Can a dead woman take her RMD?

I stand by my initial statement: this is a case in which bogleheads.org posters can't help in any detail. That may be true, but your suggestion of possible criminal responsibility and retaining a criminal defense attorney is totally off the mark and you know it, I'm sure. Throwing around a few Lati...
by Retread
Tue Jun 03, 2014 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a dead woman take her RMD?
Replies: 47
Views: 3461

Re: Can a dead woman take her RMD?

If we were discussing merely and only Vanguard's policies I would agree, Kevin, but we're not. We're talking about state criminal law. A criminal defense attorney will be in the best position to advise Calm Man's friend how to go about documenting true and reasonable doubt regarding mens rea . The ...
by Retread
Tue Jun 03, 2014 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a dead woman take her RMD?
Replies: 47
Views: 3461

Re: Living trust vs will

imgritz wrote:Trusts also have provisions such as a Health Care Power of Attorney.

You are a bit confused. That is not part of a living trust, but is a separate document.
Bruce
by Retread
Tue Jun 03, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Living trust vs will
Replies: 26
Views: 2734

Re: Can a dead women take her RMD?

How does he plan to report this? He will need to file a 1040 for his mother for 2014 reporting the RMD and also taking credit for the tax withheld. The return calls for date of death which preceded the RMD. He's looking at a bit of a mess.
Bruce
by Retread
Mon Jun 02, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a dead woman take her RMD?
Replies: 47
Views: 3461

Re: capital gains on land sale?

You would allocate the original cost between the land and building, sometimes based on the assessor's allocation. You would then allocate a portion of the land's basis to the acreage sold.
Bruce
by Retread
Mon Jun 02, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: capital gains on land sale?
Replies: 5
Views: 432

Re: How much $ savings needed to change car insurance compan

I feel your number of years with a company can be factor. I hope Amica will show me some loyalty if I ever need it, after having my auto coverage with them for nearly 50 years. I wouldn't change carriers for almost any savings.
Bruce
by Retread
Sat May 31, 2014 9:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much $ savings needed to change car insurance companies?
Replies: 29
Views: 2065

Happy Anniversary from Vanguard

[Thread merged into here, see below. --admin LadyGeek] I was quite surprised and pleased to receive a card today signed by the Chairman, the head of Flagship and my Flagship representative saying among other things, "Happy Anniversary! You've been a client-owner of Vanguard for 25 years"....
by Retread
Sat May 31, 2014 5:33 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Happy Anniversary! [From Vanguard to Clients]
Replies: 44
Views: 3861

Re: Cost basis of stock gifts using the lifetime exclusion

Thank you everyone who replied, I just want to follow up really quick. I just got a text message saying the CPA admitted they were wrong and the cost basis does not get stepped up in this case. I propose a new slogan: "Bogleheads, more accurate information than most paid professionals." I...
by Retread
Fri May 30, 2014 2:47 pm
 
Forum: Investing - Theory, News & General
Topic: Cost basis of stock gifts using the lifetime exclusion
Replies: 11
Views: 804

Re: Estate Taxes--Paying 500k vs. 1 million

...my cousin inherited some financial funds directly as he was the beneficiary to some of them. Since he is a class D inheritor, he will need to pay taxes on his inherited earnings. Does he pay those from his own pocket or do those taxes get paid by the estate? Aren't you represented by an attorney...
by Retread
Thu May 29, 2014 9:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Taxes--Paying 500k vs. 1 million
Replies: 20
Views: 2388

Re: A golf range finder ?

pryan wrote:Golf shot GPS is a great smartphone app for about $29.95. I've had mine for about three years and it works great. You don't have to load courses either. They are preloaded.

+1 on Golfshots. I've used it on my IPhone for two years now and love it.
Bruce
by Retread
Wed May 28, 2014 4:17 pm
 
Forum: Personal Consumer Issues
Topic: A golf range finder ?
Replies: 5
Views: 443

Re: Cash in Safe Deposit Box..??

In some states the tax authorities take a very keen interest at death with large amounts of cash in a safe deposit box.
Bruce
by Retread
Wed May 28, 2014 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Cash in Safe Deposit Box..??
Replies: 60
Views: 3914

Re: New water heater needed - local plumber or Home Depot, L

I went with a Lowe's installation and was very pleased with the service. The water heater was up and running within a few hours of my stop at the store.
Bruce
by Retread
Wed May 28, 2014 8:35 am
 
Forum: Personal Consumer Issues
Topic: New water heater needed - local plumber or Home Depot, Lowes
Replies: 43
Views: 4614

Re: HELP for dying friend ...

ralph124cf wrote:In my state, there cannot be co-executors of a will. There can be multiple executors in line, but only one can exercise power at a time.

What state is this? It's news to me.
Bruce
by Retread
Tue May 27, 2014 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: HELP for dying friend ...
Replies: 48
Views: 5376

Re: How do you dress for work travel?

I worked for a firm that asked us to wear a business suit for travel, just as we would to the office. I can't say I always complied, particularly when flying in on a Sunday.
Bruce
by Retread
Tue May 27, 2014 11:16 am
 
Forum: Personal Consumer Issues
Topic: How do you dress for work travel?
Replies: 21
Views: 1915

Re: Help with elderly portfolio -- nearing end of draw down

It seems to me something has to be done with their expenses. That seems an awful lot for food and rent, and they are heading to being completely wiped out in about five years or less. SPIA's would make sense here, but they are past the age of issue for these policies. The only steps I can see are to...
by Retread
Mon May 26, 2014 4:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with elderly portfolio -- nearing end of draw down
Replies: 25
Views: 2073

Re: Convincing a parent to retire

Have any of you been in a similar scenario? My father is an immigrant and he basically lives to work, he was very sick a few years ago and after recovering, his first thought was to go back to work. I probably can't help, but your story certainly resonates with me. My father was a general practice ...
by Retread
Mon May 26, 2014 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Convincing a parent to retire
Replies: 19
Views: 3197

Re: Estate Taxes--Paying 500k vs. 1 million

Is your CPA familiar with Form 706? From your earlier post about your IRA it seemed he wasn't familiar with IRD. That would make me a little concerned about his overall knowledge of estate matters. There are many techniques in preparing estate tax returns and the return should be prepared by a knowl...
by Retread
Sun May 25, 2014 5:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Taxes--Paying 500k vs. 1 million
Replies: 20
Views: 2388
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