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Re: Helping out family members

This family member and I don't see eye to eye on a lot. In the past this person has been very cruel to me, and although our relationship is mending right now, the years of cruelty aren't something I've forgotten. IMHO, it's too bad they chose to burn a bridge. Don't make their financial woes, your ...
by Swampy
Thu Dec 18, 2014 6:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping out family members
Replies: 64
Views: 4097

Re: Where to put cash now? Prefer CD's.

Has PenFed usually had their promo rate start in December instead of January?

If so, it doesn't look promising.
by Swampy
Thu Dec 18, 2014 6:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to put cash now? Prefer CD's.
Replies: 18
Views: 3348

Re: Do you travel with friends in retirement?

Hmmm, the best way to lose friends is to go on a vacation with them.

Did that once many years ago with someone we thought were good friends. We found out differently.

Never again.
by Swampy
Wed Dec 17, 2014 10:44 am
 
Forum: Personal Consumer Issues
Topic: Do you travel with friends?
Replies: 39
Views: 2321

Re: Where to put cash now? Prefer CD's.

Which Consumer's Credit Union? I found several.
by Swampy
Wed Dec 17, 2014 7:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put cash now? Prefer CD's.
Replies: 18
Views: 3348

Re: Where to put cash now? Prefer CD's.

Thanks.

I agree, john94549, time flies when you're having fun.

However, last year I got cold feet and backed away from PenFed's deal - much to my regret.

Who was it who said "He who hesitates is lost?"
by Swampy
Tue Dec 16, 2014 7:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put cash now? Prefer CD's.
Replies: 18
Views: 3348

Re: Where to put cash now? Prefer CD's.

Bump.

Anybody know of any good CD rates out there?
by Swampy
Mon Dec 15, 2014 6:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put cash now? Prefer CD's.
Replies: 18
Views: 3348

Re: friend has $70K; wants income from it

What does living in a flood zone have to do with getting $70,000 unless it is for damages sustained as a result of flooding?

Are there no expenses to repair or rebuild?

Anyway, the best five year CD rates are hovering around 2-2.5%, which translates into $1400-$1750 per year interest.
by Swampy
Sat Dec 13, 2014 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: friend has $70K; wants income from it
Replies: 11
Views: 2121

Re: Florida Keys Vacation Rental

The Keys will be outrageously expensive at this time of year. The weather is not guaranteed to be warm, either. Honestly, I'd search for a last minute cruise deal out of Miami, Fort Lauderdale or Cape Canaveral. For the price, you'll get a place to sleep, all your meals, transportation to other land...
by Swampy
Sat Dec 13, 2014 12:12 pm
 
Forum: Personal Consumer Issues
Topic: Florida Keys Vacation Rental
Replies: 24
Views: 2201

Where to put cash now? Prefer CD's.

Any suggestion on where to put cash now? No, not equities or bonds at this point. Any higher rate CD's out there? Term doesn't matter, however surrender penalties do. I found a 10 year CD 3% APY, but with a three year interest penalty for early withdrawal. No thanks. I've checked the 'usual' places ...
by Swampy
Sat Dec 13, 2014 8:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put cash now? Prefer CD's.
Replies: 18
Views: 3348

ACA - Obamacare Tax Credit Question

What happens if I over-report my income and find out, after the fact, that I could have had a higher tax credit as based on adjusted gross income on the 1040 form? Is it lost? Is it carried over to the next year? What are the rules for loss carry-overs or carry-forwards from previous year's taxes as...
by Swampy
Tue Dec 02, 2014 8:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA - Obamacare Tax Credit Question
Replies: 1
Views: 372

Re: Today is Thanksgiving Day for my family

Our kids came home yesterday for Thanksgiving.

They're safe and sound.

That's all that matters.

A 21 year old classmate who was shot is paralyzed for life.
What an utter tragedy.
by Swampy
Thu Nov 27, 2014 6:43 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Today is Thanksgiving Day for my family
Replies: 7
Views: 1386

Today is Thanksgiving Day for my family

This has nothing to do with investing: At 1 AM, we received a message from our kids that they were OK. They had just left the Florida State University library where they had been for hours studying for final exams. A few minutes later gunfire broke out. By the time it was over, three FSU classmates ...
by Swampy
Thu Nov 20, 2014 12:56 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Today is Thanksgiving Day for my family
Replies: 7
Views: 1386

Setting up a Trust

Interesting question posed by the lawyer - "What would happen to the estate if the entire immediate family was wiped out like in a plane crash?" The thought of having the family getting wiped out crosses my mind every time we all board a jet, but honestly I had not given thought to who get...
by Swampy
Thu Nov 13, 2014 7:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Setting up a Trust
Replies: 2
Views: 334

Market return and elections

My father-in-law was a big believer in market cycles being related to elections. Completely independent of political affiliation or beliefs, he specifically believed that the first two years after a presidential cycle election, the market was lousy. He also believed that the market did well after a ...
by Swampy
Wed Nov 05, 2014 8:45 am
 
Forum: Investing - Theory, News & General
Topic: Market return and elections
Replies: 7
Views: 924

Re: Pool gas heater makes banging noises

FOLLOWUP: Earlier: I've had a sidewalk consult with a few pool people. They came up with a few suggestions, none of which was really appealing. One indicated it could be a bypass valve that would run about $6-800 to replace (and I'd still have a ten year old heater). The other option is replacing it...
by Swampy
Wed Nov 05, 2014 8:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Pool gas heater makes banging noises
Replies: 7
Views: 705

Re: Pool gas heater makes banging noises

I had concerns with a pool guy fiddling around with the propane, so I called several places and it turns out that the local propane company will give me the best price - installed - for a new heater - by a lot! Oddly, it worked just fine today - but I was standing nearby in case it started acting up...
by Swampy
Fri Oct 17, 2014 11:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Pool gas heater makes banging noises
Replies: 7
Views: 705

Re: Pool gas heater makes banging noises

It's in ground and part of the pool, but is isolated for heating purposes. I guess I'll just get a specialist to come and look at it. If it's not too pricey, I'll fix it. Otherwise I'll just replace it. I've heard that gas heaters are more efficient now. Maybe I'll partially recoup the costs with lo...
by Swampy
Tue Oct 14, 2014 8:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Pool gas heater makes banging noises
Replies: 7
Views: 705

Re: Investing Mortgage Payments

I've always been of the thought of getting rid of a mortgage as soon as possible. That meant getting a 15 year loan and prepaying it, while building up equity rapidly. It was my version of a forced savings plan. In retrospect, looking back at the last 30 years, I sometimes wonder if I was a fool. I'...
by Swampy
Tue Oct 14, 2014 7:39 am
 
Forum: Investing - Theory, News & General
Topic: Investing Mortgage Payments
Replies: 11
Views: 1136

Pool gas heater makes banging noises

I have a 250K BTU Hayward propane gas pool heater which I use to heat the hot tub. I turn it on for 20-30 minutes on cooler days (costing about $3-4/day - depending on outside temperature and water temperature) most days and the tub stays toasty all day long. I have solar backup and spend about $1 a...
by Swampy
Tue Oct 14, 2014 7:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Pool gas heater makes banging noises
Replies: 7
Views: 705

Re: Best Place To Buy Actual Gold Coins

Thanks for a lot of good suggestions. US Mint is too expensive for what they're selling. At $250 EXTRA per one ounce gold coin - not what I'm looking for. On the other hand, I suppose 'junk' silver could be useful, too. Pre-1964 silver coins are an option and certainly less expensive per unit purcha...
by Swampy
Tue Oct 07, 2014 7:59 pm
 
Forum: Personal Consumer Issues
Topic: Best Place To Buy Actual Gold Coins
Replies: 28
Views: 2533

Best Place To Buy Actual Gold Coins

I'm considering purchasing some gold coins. I don't care if they're American Eagles, Krugerrands, Maple Leaves, Saint Gaudens, etc. All I care about is the gold content, not how 'fine' or how 'rare' they are as collectible pieces. The places I've looked at seem to have a huge markup with all sorts o...
by Swampy
Tue Oct 07, 2014 10:52 am
 
Forum: Personal Consumer Issues
Topic: Best Place To Buy Actual Gold Coins
Replies: 28
Views: 2533

Re: Retiring early, but where dump 401k for yearly withdrawa

I suggest you read Otar's work sometime in the next four years, especially the book entitled "High Expectations and False Dreams."
by Swampy
Tue Oct 07, 2014 8:58 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring early, but where dump 401k for yearly withdrawal?
Replies: 32
Views: 3470

Why not a portfolio of equity index funds and CD's?

With the prime interest rate at 3.25% and the potential for the fed to raise interest rates, hence negatively affecting bonds and bond funds, wouldn't it be prudent to shift asset allocation from bonds to CD's? When interest rates rise, bonds will get whacked. The longer the term of the bond, the wo...
by Swampy
Fri Oct 03, 2014 4:41 pm
 
Forum: Investing - Theory, News & General
Topic: Why not a portfolio of equity index funds and CD's?
Replies: 27
Views: 2888

Re: LED Flashlights

I like the free 27 LED flashlight from Harbor Freight Tools.

Bright, has a hook to loop on belt and a small powerful magnet to attach to metal surface. Battery lasts a long time.

I use mine daily in the early AM when I go outside so I don't accidentally step on a snake.
REALLY!
by Swampy
Thu Oct 02, 2014 5:38 am
 
Forum: Personal Consumer Issues
Topic: LED Flashlights
Replies: 51
Views: 3858

Re: Solar Panel company recommendations - San Diego/ Souther

How much are you paying, including taxes per kilowatt of electricity? I'm right around $0.16. Installers will often quote the total output per panel per day, hence they will tell you what the system (more often than not an overly optimistic number) will generate. So, if someone is quoting a 20Kw sys...
by Swampy
Wed Oct 01, 2014 5:36 am
 
Forum: Personal Consumer Issues
Topic: Solar Panel company recommendations - San Diego/ Southern CA
Replies: 11
Views: 1000

Re: IRA Beneficiary - Should a Trust ever be the beneficiary

So, assuming one doesn't have a great future need for the money in an IRA, is there a way to make one's spouse AND children co-beneficiaries? IE 50% goes to spouse and 25% to each kid, distributed according to their ages. When the beneficiary spouse dies, the remainder of what's left in the benefici...
by Swampy
Tue Sep 30, 2014 6:13 am
 
Forum: Personal Finance (Not Investing)
Topic: IRA Beneficiary - Should a Trust ever be the beneficiary?
Replies: 23
Views: 1879

Re: IRA Beneficiary - Should a Trust ever be the beneficiary

Once again, thanks everyone for all your input.
by Swampy
Sun Sep 28, 2014 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Beneficiary - Should a Trust ever be the beneficiary?
Replies: 23
Views: 1879

Re: The Villages Retirement Community Near Orlando

Why limit yourself to the Villages? Florida is a big state. It's not all Disney and the beaches or swamps and alligators. Contrary to popular belief, it does get cold here. I live about 125 miles due south of the Villages and where I live, it has gotten into the 20's at night in winter. Yes, 20's. P...
by Swampy
Sat Sep 27, 2014 5:56 pm
 
Forum: Personal Consumer Issues
Topic: The Villages Retirement Community Near Orlando
Replies: 72
Views: 8038

Re: IRA Beneficiary - Should a Trust ever be the beneficiary

DonCamillo, thanks for sharing the experience.
by Swampy
Sat Sep 27, 2014 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Beneficiary - Should a Trust ever be the beneficiary?
Replies: 23
Views: 1879

IRA Beneficiary - Should a Trust ever be the beneficiary?

I've received some conflicting information regarding titling all assets, including IRA's, into a revocable trust. Apparently, having the trust as 'beneficiary' is not such a good choice as it would be paid out as a lump sum, creating a large taxable event. This is something I want to avoid. If I kee...
by Swampy
Sat Sep 27, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Beneficiary - Should a Trust ever be the beneficiary?
Replies: 23
Views: 1879

Re: Notice From Vanguard About Impending Transfer

Are you sure it's really from Vanguard??? I usually click the 'forward this email' button and see where it really came from. Of course, I don't forward it to anyone. I would bypass the email and separately log into your Vanguard account or call them about it. If they have an internet fraud division,...
by Swampy
Thu Sep 25, 2014 7:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Notice From Vanguard About Impending Transfer
Replies: 17
Views: 2150

Re: Trust Company Fees

It is my concern with the fee's that is making me tread very cautiously. .75% here, .9% there, ETF or mutual fund expense ratios, etc - all add up to a trust that eventually costs more to administer and manage than the money it distributes to the beneficiary. With the kind of asset mix I'm looking a...
by Swampy
Tue Sep 23, 2014 7:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Re: Could one theoretically be 100% stocks your whole life?

Could one theoretically be 100% in stocks your whole life?

Yes, of course.

You could also theoretically be destitute for the rest of your life.

It all depends on your annual withdrawal rate.
by Swampy
Tue Sep 23, 2014 7:14 am
 
Forum: Investing - Theory, News & General
Topic: Could one theoretically be 100% stocks your whole life?
Replies: 43
Views: 2834

Re: Trust Company Fee's

Gill said If the trust declines to $100K you're still paying $2,000 or 4% of the trust. I think 4% of a $100K is $4000. Even so, I think you meant to say that if the trust dropped to $50K, an annual fee of $2000 is 4%. So, the point then is to make sure the assets in a trust never go below a certain...
by Swampy
Sun Sep 21, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Re: Trust Company Fee's

Let me get this straight.

If a trust company states there is a minimum fee of $2000 and a .75% 'management' fee (or whatever they call it),

on a $300K SNT, what would the fee be? $300K x .75% = $2250 - or - would it be $2000 + $2250 = $4250?
by Swampy
Sun Sep 21, 2014 9:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Re: Amount to set aside for Special Needs Trust

Thank you everyone for your thoughtful and reasoned insight and responses. I'll probably end up funding the SNT with more than the expected minimum, especially if it reverts back to his siblings/direct heirs on his death. Since I am hoping that the trust is capable of lasting at least 60 years, I've...
by Swampy
Sun Sep 21, 2014 6:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Amount to set aside for Special Needs Trust
Replies: 11
Views: 1086

Re: Trust Company Fee's

I'm not convinced Vanguard is the answer. I know that there are some trust companies out there that have lower minimums and lower management fee's. I recall hearing of some with minimums as low as $1000/yr with fee's that were 1% - a deal killer. Others have minimums of $3000/yr and fee's were in th...
by Swampy
Sat Sep 20, 2014 5:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Re: Trust Company Fee's

I'm hoping to find a corporate trust company that will do it for at or under 0.5% max.
by Swampy
Fri Sep 19, 2014 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Trust Company Fees

I'm in the process of setting up a Special Needs Trust as well as an Irrevocable Protective Trust. That said, does anyone have suggestions on where to look for a low cost corporate trustee that doesn't charge an onerous fee? My concern is that with all the extra layers of fee's involved, between ass...
by Swampy
Fri Sep 19, 2014 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trust Company Fees
Replies: 22
Views: 1517

Re: When did you feel "Out of the Woods"?

1998

Not long after that I got creamed!
by Swampy
Fri Sep 19, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: When did you feel "Out of the Woods"?
Replies: 42
Views: 5518

Re: Are SPIA's fairly priced? - A quick and dirty analysis

The longer I'm around, the more I realize that annuities are a great deal for insurance companies.

Not so for the average annuitant.
by Swampy
Fri Sep 19, 2014 1:06 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3735

Re: Time Has Gone Quickly, 3 Months Till Retirement

A 7 year cash reserve of funds seems prudent at this time - at least to me. I think you should look at your portfolio, as a whole to see what percentage you have in equities, etc. If it interferes with your sleep, you know the answer. Back in 2000 I was within a few months of retirement. Due to extr...
by Swampy
Fri Sep 19, 2014 1:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time Has Gone Quickly, 3 Months Till Retirement
Replies: 31
Views: 4002

Re: Amount to set aside for Special Needs Trust

It is hard being the parent of a kid with special needs. This is just one more burden that the average person, fortunately for them, has no clue about. I'm reading a book called "Beyond the Grave' currently, which describes some nightmarish scenarios. It's an eye opener. All we can do is plan f...
by Swampy
Fri Sep 19, 2014 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Amount to set aside for Special Needs Trust
Replies: 11
Views: 1086

Re: Amount to set aside for Special Needs Trust

PS

Since the term of the Special Needs Trust payout could exceed 60 years, I'm looking at an annual payout of no more than 2% after expenses. My concern is that the expenses may be ridiculously high, too.
by Swampy
Thu Sep 18, 2014 8:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Amount to set aside for Special Needs Trust
Replies: 11
Views: 1086

Amount to set aside for Special Needs Trust

We're finally meeting with an attorney regarding setting up a Special Needs Trust for our mentally handicapped 17 year old son. Since this trust would be a part of a larger living trust, it wouldn't be funded until after both, my wife and I, pass. He will be eligible for aid and living in a subsidiz...
by Swampy
Thu Sep 18, 2014 8:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Amount to set aside for Special Needs Trust
Replies: 11
Views: 1086

Re: Real Estate Question

Septic systems, not so much. :P

Happily, the septic system and field are fine. Especially since two went away to college.
by Swampy
Wed Sep 17, 2014 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Question
Replies: 21
Views: 1717

Re: Creating a permanent legacy?

I guess the goal would be to provide a baseline amount of income for all my future generations so that they could pursue whatever aspirations they have without having to worry about falling into poverty. It's also quite possible that by providing a minimum baseline of assistance to your heirs, you ...
by Swampy
Wed Sep 17, 2014 3:07 pm
 
Forum: Investing - Theory, News & General
Topic: Creating a permanent legacy?
Replies: 46
Views: 4331

Re: Creating a permanent legacy?

Gee, I worked my @$$ off to get ahead in life. I plan on leaving something to my kids when I die, especially my special needs child. Beyond that, I'm less concerned about the future of great-great grandkids with who knows how many spouses and ex-spouses mixed into the fray. I'm lucky to have a few b...
by Swampy
Wed Sep 17, 2014 3:01 pm
 
Forum: Investing - Theory, News & General
Topic: Creating a permanent legacy?
Replies: 46
Views: 4331

Re: Real Estate Question

Over the years, I've used several 'property managers' and, to say the least, I'm less than impressed. To say they were anything above mediocre would be a lie. The only one worth anything found the tenants and took her cut, then I managed it. I know more about property management than many of these s...
by Swampy
Wed Sep 17, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Question
Replies: 21
Views: 1717

Re: Real Estate Question

I had the exact opposite experience with property management people. I found them to be utterly useless and they skimmed the cream off of the top. It's no different than paying a money manager 1-1.5% for assets under management. The absolutely worst tenant I ever had was from one such 'professional....
by Swampy
Wed Sep 17, 2014 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Question
Replies: 21
Views: 1717
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