Search found 105 matches

by cliffedelgado
Wed Jan 31, 2024 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Help me navigate huge LTCG tax
Replies: 85
Views: 8348

Re: Help me navigate huge LTCG tax

Consider an exchange fund like www.usecache.com? I’ve never tried it though.
by cliffedelgado
Mon Dec 11, 2023 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: [resolved] Suspect Popup after Fidelity Login
Replies: 16
Views: 2145

Re: Fraudulent Popup after Fidelity Login

mrmass wrote: Mon Dec 11, 2023 1:21 pm Try logging in using incognito mode. I've been in and out of the site all day without any pop ups. I don't think I've ever got a popup while logged into their site.
It was not a separate pop up window. It was a pop up message within the current window.
by cliffedelgado
Mon Dec 11, 2023 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: [resolved] Suspect Popup after Fidelity Login
Replies: 16
Views: 2145

Re: Fraudulent Popup after Fidelity Login

I received the $150 offer for my feedback this morning. I didn’t view it as fraudulent, but didn’t click on the link.
by cliffedelgado
Mon Nov 27, 2023 8:48 pm
Forum: Personal Consumer Issues
Topic: CA Solar Decision
Replies: 90
Views: 12008

Re: CA Solar Decision

Another curve ball to consider are CA utility plans to set rates based on income.
by cliffedelgado
Mon Nov 27, 2023 2:10 pm
Forum: Investing - Theory, News & General
Topic: Money Market Optimizer Spreadsheet - Releases, Bugs, etc.
Replies: 386
Views: 102061

Re: Money Market Optimizer Spreadsheet - Releases, Bugs, etc.

Is this your personal copy? If so, have you run the procedure documented in the 'Apps Script Authorization' section of the Instructions Tab? This sounds like the Apps Script functions are not authorized and not executing. Try running Optimizer Actions -> Update History Date Also run Optimizer Actions -> Install email Triggers to force the triggers and authorization. Personal copy. I'm sorry, I admit I did not read the instructions and did not complete the "Apps Script Authorization". I've now done that and still see the same issue on "All MM Funds Optimizer v5." as well as "MM Optimizer v17.3". The "As of Date" in EDGAR tab is still 11/17/2023. I ran "Force Cache update", "Update histo...
by cliffedelgado
Mon Nov 27, 2023 1:13 pm
Forum: Investing - Theory, News & General
Topic: Money Market Optimizer Spreadsheet - Releases, Bugs, etc.
Replies: 386
Views: 102061

Re: Money Market Optimizer Spreadsheet - Releases, Bugs, etc.

Looks like Vanguard/Schwab SEC yields (anything using mmGetCachedFundYield) are stuck on 11/17. Or is the yield actually updated but just the "As of Date" is incorrect?

Thanks for putting this together.
by cliffedelgado
Thu Oct 05, 2023 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: 2023 Dependent Care Flexible Spending Account Limit reduced from $5k to $2.5k
Replies: 4
Views: 833

Re: 2023 Dependent Care Flexible Spending Account Limit reduced from $5k to $2.5k

Agree with what Beachey said. My spouse’s company usually fails and their maximum is lowered every year. So we always contribute to my DCFSA to avoid the problem.

Sounds like you are familiar with there being a reduced limit and just wondering why the amount changed. Here’s a link that could be helpful. They basically need to reduce the HCE benefit amount. https://www.newfront.com/blog/the-depen ... efits-test
by cliffedelgado
Sat Sep 16, 2023 9:39 pm
Forum: Personal Investments
Topic: Experience Transferring Out of Putnam Investments?
Replies: 6
Views: 1202

Re: Experience Transferring Out of Putnam Investments?

Thank you for the update and correction.

I'm glad you were able to get it transferred without MSG.
by cliffedelgado
Thu Sep 14, 2023 10:53 am
Forum: Personal Investments
Topic: Experience Transferring Out of Putnam Investments?
Replies: 6
Views: 1202

Re: Experience Transferring Out of Putnam Investments?

Putnam confirmed they need the Medallion Signature Guarantee for the transfer out. Not sure if this is due to the balance, but it is what it is.
by cliffedelgado
Tue Sep 12, 2023 8:20 pm
Forum: Personal Investments
Topic: Experience Transferring Out of Putnam Investments?
Replies: 6
Views: 1202

Re: Experience Transferring Out of Putnam Investments?

DCChak wrote: Tue Sep 12, 2023 4:55 pm Currently transferring a ~$65k Putnam IRA into Fidelity. Made the request on the Putnam website this weekend. Putnam sent me an email today noting the requested transfer or assets and the sale of Putnam funds in the process.

Pretty easy so far. No notary or Medallion required yet, though I think I recall reading such might be required for accounts over $250k.
Thank you for the response. It is interesting that you initiated it from the Putnam side. I did not see a place to initiate a transfer on the Putnam website. Do you mind sharing where you found it? Is it a online form?
by cliffedelgado
Tue Sep 12, 2023 2:54 pm
Forum: Personal Investments
Topic: Experience Transferring Out of Putnam Investments?
Replies: 6
Views: 1202

Experience Transferring Out of Putnam Investments?

Can anyone share their experience transferring in-kind out of Putnam Investments? Did it require paperwork? Did Putnam require a medallion?

I’ve already verified that Vanguard can hold the Putnam funds. The process was initiated on Vanguards side and required paper work, and said MSG was dependent on whether the current firm required it.

I know Fidelity to Vanguard is easy and does not require any paper work. I would be pleasantly surprised if Putnam has made this easy for anyone.
by cliffedelgado
Tue Sep 12, 2023 1:37 am
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 9
Views: 2315

Re: Vanguard blocking SOME exchanges/sells, why?

OP here bringing partial closure to the thread.

The lock persisted for years. The owner of the account ended up calling, but the representative couldn't give a good answer. They were advised to send in a "Letter of Authorization" to unlock those blocked funds. The letter was mailed in, but we were still blocked.

When transferring the funds to a different Vanguard account, the representative discovered there was some type of lock, that he or she had fortunately just learned how to resolve. They removed the lock and successfully transferred the funds to a new brokerage account.

In the new account, the funds can now be sold.
by cliffedelgado
Mon Aug 14, 2023 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Questions on adding beneficiaries after you create the trust
Replies: 25
Views: 1084

Re: Questions on adding beneficiaries after you create the trust

kevin20 wrote: Mon Aug 14, 2023 11:57 am So they suggested I could retitle the joint brokerage to individual and then add the beneficiary.
Who is the “they” that is suggesting this?

How about retitling the joint brokerage into the name of the trust instead? (Technically I think vanguard creates a new trust account and moves the assets over.)

If you are sure you want the trust as the beneficiary, you are running into the infamous Vanguard joint not allowing beneficiaries issue. You can consider moving it to a different brokerage.
by cliffedelgado
Wed Jul 19, 2023 1:22 am
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

typical.investor wrote: Tue Jul 18, 2023 9:44 pm Also, be careful about gifting brokerage. I guess it doesn't matter if NRA to US citizen gifting is unlimited, but it turns out that ETF shares may not be the same as stock and mutual fund shares.

https://www.bnymellonwealth.com/insight ... onals.html
Thanks for sharing that, it's an interesting find. I guess a competent NRA estate planner would be able to tell us which types of ETFs would trigger gift tax. I'll try to find some details.
by cliffedelgado
Wed Jul 19, 2023 1:08 am
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

bsteiner wrote: Mon Jul 17, 2023 10:16 pm The nonresident noncitizen spouse need not invest in U.S. assets.
Agree, so we are focusing on solving the problem for the US assets. Any non-US assets will stay non-US.
bsteiner wrote: Tue Jul 18, 2023 9:34 pm The original poster should consult with competent counsel. There is a good deal of advice in this thread that is different from what competent counsel would advise.
Thanks bsteiner. Would you be willing to point out the big problems? I'm not sure if you are saying there is
1) illegal or incorrect information and/or
2) something along the lines of competent counsel could save 95% while the proposed method saves 80% and doesn't cover all cases and/or
3) something else
by cliffedelgado
Tue Jul 18, 2023 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

Lee_WSP wrote: Tue Jul 18, 2023 9:26 pm It depends on the treaty we have with their country and whether they ultimately become a citizen.
That’s true. Table assumes no treaty and not becoming a US citizen.
by cliffedelgado
Tue Jul 18, 2023 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

Here is a table for GIFT TAX, not estate tax. It is similar to this link but I separated out US-situ tangible and US-situ non-tangible. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 So typical.investor and I are discussing box 13 now. I will do more research. I think we agree that non-tangible (which includes brokerage) can be gifted from NRA to US citizen spouse. (box 19) Please feel free to let me know if you disagree or wonder how I came up with any of it. I'll try to find supporting documents. Gift Tax (2023) US Citizen US Citizen Resident Alien Resident Alien Non-Resident Alien Non-Resident Alien From -> To Spouse Non-Spouse Spouse Non-Spouse Spouse Non-Spouse US Citizen Unlimited Marital Annual 17K, ...
by cliffedelgado
Tue Jul 18, 2023 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

halfnine wrote: Tue Jul 18, 2023 3:10 am - my retirements plans will pass on to our children
Agree, retirement plan beneficiaries are set to next generation.
If there is no intent to move to the US, wouldn't half in her name outside the US be better?
Agree, any amount outside the US in non-resident alien spouse’s name is good already. So the only concern is with the assets in the joint.
by cliffedelgado
Tue Jul 18, 2023 2:39 am
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

:arrow:
typical.investor wrote: Tue Jul 18, 2023 1:37 am That seems reasonable.

I don’t believe the non-citizen spouse gets the unlimited marital deduction though so don’t know if getting the joint account in your name works.
Thanks for continuing to add your thoughts. Which part are you saying “seems reasonable”?

The assets are already in the joint account of the US citizen and non-resident alien spouse. I’m proposing moving it to the US citizen individual account while both are still alive. In that case, I believe there is no gift tax due because of the unlimited gift tax marital deduction. If going the other direction to the non-resident alien spouse, the special annual gift tax exclusion is only around 160K.
by cliffedelgado
Mon Jul 17, 2023 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

It seems setting up and funding QDOT can avoid most of the problem scenarios. However, QDOT also involves an estate lawyer and can be quite complicated. Would moving most assets from joint account to individual account in US citizen’s name accomplish everything in this case? Please help point out if I am missing anything here. Assets would be moved to US citizen’s individual account. Beneficiary would be next generation, who are 40+ and self sufficient. That would avoid the estate tax when the non-citizen passes. Assume non-citizen spouse is not afraid of running out money, next generation would help if needed etc. No concern of re-marriage, no step kids. I believe there is no gift tax due when moving assets from joint to US citizen individ...
by cliffedelgado
Mon Jul 17, 2023 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

Re: How Bad is the US Citizen + Non-resident Alien spouse estate tax?

In scenario A my understanding is that without the assets going into right kind of trust (the QDOT) the unlimited marital exemption does not apply and estate tax is levied on all assets above $100k, ie that the tax provisions become rather onerous when there is a non-US spouse inheriting. I''ve gone through this with estate lawyer. The real answer to OP's question is that you must consult with an estate lawyer, preferably with a firm with a specialty practice in cross-border estates. You can google up a selection of them around the country. (You can PM me if you want to know who I've used.) Just in passing, I think in current law the estate tax exempt amount is scheduled to halve in 2025. Thank you typical.investor and asset_chaos for addi...
by cliffedelgado
Mon Jul 17, 2023 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: How Bad is the US Citizen + Non-resident Alien spouse estate tax?
Replies: 23
Views: 2356

How Bad is the US Citizen + Non-resident Alien spouse estate tax?

For a US citizen and non-resident alien spouse, how bad is the estate tax for the next generation? Let’s assume $5M in assets at first passing and $6M at second passing. Desire to pass assets to next generation who are US citizens. All assets are in jointly titled accounts in US. Scenario A: If the US citizen passes first, I believe there is up to 40% tax with 11.5M exemption. Then when the nonresident alien passes, and the assets pass to the US citizen next generation, there is another up to 40% tax on amounts about 60k. So the next generation would get about $3.6M. Scenario B: If the non-resident alien passes first, there is no tax at passing due to unlimited marital deduction. When the US citizen passes, the assets can pass to the US cit...
by cliffedelgado
Fri Apr 21, 2023 5:04 pm
Forum: Personal Investments
Topic: Prepay mortgage vs invest MATH - calculating taxable equivalent yield
Replies: 12
Views: 1120

Re: Prepay mortgage vs invest MATH - calculating taxable equivalent yield

ofckrupke wrote: Fri Apr 21, 2023 4:56 pm The medicare surtax applies only to earned income. The arithmetic here should model a prepayment as a bond that pays off at the end of the amortization term, and compare the return on the model bond against that for a similar-risk, similar-term bond available today. The income associated with these bond instruments is unearned income; which is chosen has no impact on earned income, so the medicare surtax doesn't belong in the formulae.
Thank you for pointing that out.

Federal Marginal Rate: 37% + 3.8% = 40.8%
Federal Long Term/Qualified Dividends Rate: 20% + 3.8% = 23.8%
State Marginal Rate: 10%

4.25%/(1-.508) = 8.638% marginal rate taxable equivalent yield
4.25%/(1-.338) = 6.419% long term/qualified taxable equivalent yield.
by cliffedelgado
Fri Apr 21, 2023 4:25 pm
Forum: Personal Investments
Topic: Prepay mortgage vs invest MATH - calculating taxable equivalent yield
Replies: 12
Views: 1120

Re: Prepay mortgage vs invest MATH - calculating taxable equivalent yield

Thank you for the pointers. I'll look around at the various funds, bonds, bills and calculate taxable equivalent yields. I understand there is marginal tax rate, long term capital gains rate, NIIT, medicare, state (tax-exempt or not).

I think we all agree case 1 and case 3 have effective interest rates the same as the mortgage rate. How about case 2 when the mortgage balance is under < 750k, but the interest allows itemization and is thus deductible ? I'm thinking in that case, the standard deduction does not need to be considered, so it would be B instead of A. (or some variant of B).
by cliffedelgado
Fri Apr 21, 2023 3:19 pm
Forum: Personal Investments
Topic: Prepay mortgage vs invest MATH - calculating taxable equivalent yield
Replies: 12
Views: 1120

Re: Prepay mortgage vs invest MATH - calculating taxable equivalent yield

harikaried wrote: Fri Apr 21, 2023 2:54 pm Ah oops yes, your 1-marginal is correct although in this case both sides are pretty close to 50%. Your equation is right resulting in 8.8% yield or growth split 4.55% going towards taxes and 4.25% towards your savings.
Thank you, I didn't even notice that. 8.8%, even better :shock:
by cliffedelgado
Fri Apr 21, 2023 2:44 pm
Forum: Personal Investments
Topic: Prepay mortgage vs invest MATH - calculating taxable equivalent yield
Replies: 12
Views: 1120

Re: Prepay mortgage vs invest MATH - calculating taxable equivalent yield

For example, paying down your mortgage by $100,000 avoids paying $4,250 interest (4.25%) every year because you couldn't have deducted that interest anyway (principal in excess of $750k). If you invested that money instead, you would need to earn $8,221 (8.2%) when applying your 51.7% marginal rate to have the equivalent $4,250 earning. Thank you for the response. I think in other words, what you are saying is that since my mortgage is above 750K, my marginal effective interest rate is 4.25%. Although the effective interest rate on the entire balance is 3.69% or 2.69%, it is the marginal effective interest rate that matters when deciding whether to prepay an amount (assuming not paying it ALL off) And thus 4.25%/(1-marginal tax rate) gives...
by cliffedelgado
Fri Apr 21, 2023 1:36 pm
Forum: Personal Investments
Topic: Prepay mortgage vs invest MATH - calculating taxable equivalent yield
Replies: 12
Views: 1120

Prepay mortgage vs invest MATH - calculating taxable equivalent yield

Appreciate any help in checking my math here in deciding whether to prepay a mortgage. A lot of the calculators online are simplified and don't give the taxable equivalent yield that you would need to beat to be getting a free loan. Let's assume already maxing out HSA, Backdoor roth, mega backdoor roth, emergency fund etc. I want to calculate the equivalent taxable yield interest rate that would be needed to effectively be getting a free loan.  I'm confusing myself in step 4 whether to take the standard deduction into account or not. I already have the mortgage and I'm NOT deciding between all cash or a mortgage. If there are errors anywhere, please help point them out! Step 1: Mortgage interest rate = 4.25% State marginal: 10% Federal marg...
by cliffedelgado
Fri Apr 14, 2023 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Roth Megabackdoor Limits 2 Jobs
Replies: 2
Views: 410

Re: Roth Megabackdoor Limits 2 Jobs

Check here https://www.irs.gov/retirement-plans/pl ... ion-limits under "Overall limit on contributions". It is per employer.
by cliffedelgado
Tue Apr 12, 2022 6:24 pm
Forum: Investing - Theory, News & General
Topic: Fidelity In-Plan Roth Conversion - Magical?
Replies: 19
Views: 2732

Re: Fidelity In-Plan Roth Conversion - Magical?

I can confirm, Fidelity supports this. Previously, I had to call in every time I wanted to do the in-plan Roth conversion. At the time Fidelity said my company's plan did not have the feature to do the conversion automatically. In August 2021, as part of a call to do said conversion, the agent mentioned that my plan now had the automatic conversion feature. "But, we *DO* pay taxes on that money somehow, right? How?" Yes you do pay taxes on the money that is contributed, as it is after tax. The amount still shows up on your W2. The magic is that once it's converted into the Roth, there are no taxes on any gains. "..after she maxes out her 401k" In my account, it does not have to be after maxing out the 401k. I can contrib...
by cliffedelgado
Mon Feb 28, 2022 8:12 pm
Forum: Personal Consumer Issues
Topic: Buying prescription glasses online
Replies: 46
Views: 8415

Re: Buying prescription glasses online

Check if your vision insurance covers purchases from eyebuydirect and the others. Mine does as out-of-network. You need to submit the receipt yourself, but it can be done online. My glasses ended up being around $20 after reimbursement.
by cliffedelgado
Fri Feb 25, 2022 3:37 pm
Forum: Personal Investments
Topic: Mega Back Door Question
Replies: 5
Views: 611

Re: Mega Back Door Question

61k is the limit per plan, so your total can go over the limit since it is over two plans.
20.5k is the total pre-tax 401k limit over all plans.

I think you are on the right track, but your total in both plans is actually 72k instead of 69k. 11K (3+2+6) + 61k (17.5 + 4 + 39.5) = 72k.
by cliffedelgado
Thu Apr 22, 2021 10:11 am
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 9
Views: 2315

Re: Vanguard blocking SOME exchanges/sells, why?

userwithconcern wrote: Wed Apr 21, 2021 9:26 pm Can you please make a post on their response after you call them?
I hope so. That would mean we actually called Vanguard, which the owner doesn't want to do :?
by cliffedelgado
Wed Apr 21, 2021 8:48 pm
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 9
Views: 2315

Re: Vanguard blocking SOME exchanges/sells, why?

You don't mention whether this block is a recent problem or if it has always been that way. Is it possible those particular fund accounts were opened a very long time ago? Like by a paper application and check? Maybe you opted out of telephone/computer access at the time. This is a recent problem that we never faced before, as we signed up for online access a little more than 14 days ago. I understand there is a hold of 7 or 14 days on new online accounts, but we seem past that. All these fund accounts were opened a long time ago. After you brought this up, I now notice that those being blocked were all initially bought on the same day in year X. And the ones not blocked were initially bought in year X+2. Both years prior to 2000. What you...
by cliffedelgado
Wed Apr 21, 2021 8:34 pm
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 9
Views: 2315

Re: Vanguard blocking SOME exchanges/sells, why?

David Jay wrote: Wed Apr 21, 2021 5:14 pm Do you have a specific need or requirement to stay on the MF platform? I am sure you have received multiple requests from Vanguard to change to the brokerage platform.
No specific requirement to stay on the MF platform. I will consider advising the account owner to transition.
by cliffedelgado
Wed Apr 21, 2021 4:52 pm
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 9
Views: 2315

Vanguard blocking SOME exchanges/sells, why?

Hi, We are seeing Vanguard blocking exchanges from and sells of some Vanguard mutual funds. When attempting to exchange, some funds are grayed out with the message: "This transaction can't be completed online. Call us at 877-662-7447 for help." When attempting to sell, those same funds are also grayed out with the message: "Your transaction can't be completed. Call us at 877-662-7447 for help." This is on the old mutual fund platform. All funds are Admiral funds. All the funds that are blocked had dividends reinvested at the end of March. (3/19, 3/26, 3/31) I don't see any short term redemption fee for the blocked funds. All the funds that are NOT blocked did NOT have any dividends reinvested at the end of March. This an...
by cliffedelgado
Tue Mar 09, 2021 4:31 pm
Forum: Personal Investments
Topic: Brokeragelink transfer -- are funds sold?
Replies: 21
Views: 2056

Re: Brokeragelink transfer -- are funds sold?

I have Brokeragelink in a Fidelity administered 401k. Mutual funds are sold and cash is moved to the Brokeragelink. When I transfer, it says I can immediately purchase up to 90% of the value being transferred if I call in. I never tried that, so I was out of the market for up to one day.

Example: Transferred on Friday before 1pm ET. I bought an ETF in the Brokeragelink on Monday during market open hours.
by cliffedelgado
Sun Jan 10, 2021 2:23 pm
Forum: Personal Investments
Topic: Check my Zero ER Portfolio
Replies: 44
Views: 4150

Re: Check my Zero ER Portfolio

invest2bfree wrote: Sun Jan 10, 2021 11:03 am There is a limit of 300k for this fidelity zero.

Does not work for me.
Can you please clarify ? I didn't see a limit for any of these funds or ETFs.
by cliffedelgado
Thu Sep 24, 2020 3:19 pm
Forum: Personal Consumer Issues
Topic: Bogleheads knows how many Echo devices I have
Replies: 66
Views: 4213

Re: Bogleheads knows how many Echo devices I have

Tried with mine and it also said three devices. Is it responding with three for everyone regardless of how many you actually have ?
by cliffedelgado
Wed Sep 02, 2020 4:38 pm
Forum: Personal Investments
Topic: What are my rights & what can i do about a 401-k?
Replies: 21
Views: 2662

Re: What are my rights & what can i do about a 401-k?

scubadiver4 wrote: Wed Sep 02, 2020 3:55 pm Does anyone have a couple of names i could send to our fiduciary? No offence, not John Hancock that's who we left in 2011.
TriNet does HR + payroll, and their 401k is through Transamerica. Fees were 0.29% + fund expenses. We had Vanguard funds inside wrappers, but the fees were not outrageous. I'm guessing my company covered part of the fees as this seems lower than what I see on TriNet's website. This was for a small <25 person company.
by cliffedelgado
Tue Mar 17, 2020 1:54 pm
Forum: Personal Investments
Topic: TLH moving after tax 401k to Roth 401k in plan
Replies: 4
Views: 254

Re: TLH moving after tax 401k to Roth 401k in plan

In my experience, you do NOT get to claim any losses for this. This could be plan specific, but I don't think it is.

Mine is also through Fidelity. I convert multiple times a year. If first conversion has a gain of 300 and second has a loss of 100, my total taxable at the end of the year is still 300. They won't reduce the taxable amount to 200.
by cliffedelgado
Sun Mar 15, 2020 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Joint Living Trust and SSN experience, any problems?
Replies: 10
Views: 660

Re: Joint Living Trust and SSN experience, any problems?

FIREchief wrote: Sun Mar 15, 2020 12:50 am Also, your RLT likely includes conduit trust language that could have been rendered significantly defective by passage of the Secure act (depending upon how the trust was drafted). See my signature.
Thanks for bringing up the Secure Act! I'll ask my lawyer to make sure the language is compatible.
by cliffedelgado
Sun Mar 15, 2020 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Joint Living Trust and SSN experience, any problems?
Replies: 10
Views: 660

Re: Joint Living Trust and SSN experience, any problems?

Please ask your lawyer which accounts to put in the trust and which should not. Do not move anything until you understand WHY. Agree! Current plan is to convert savings/checking/CD/taxable brokerages 401(k), IRA, HSA consider changing beneficiary to trust. 529 - no change custodial - no change ESPP/RSU/options employer related brokerage accounts - not sure Either option works only for taxable accounts! We have two taxable trust accounts at our bank and at Vanguard. One of each is listed with his or her SSN. The ones with his SSN show his name as trustee first and I’m second. On the accounts with my SSN, my name is listed as the first trustee, then his. The nice thing about this is that it keeps us from referring to the wrong account. The m...
by cliffedelgado
Sat Mar 14, 2020 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Living Trust and SSN experience, any problems?
Replies: 10
Views: 660

Re: Joint Living Trust and SSN experience, any problems?

nesdog wrote: Sat Mar 14, 2020 10:19 pm It's not clear if you are dealing with tax deferred or taxable accounts. We just set up a RLT and our attorney advised us to not place any deferred accounts in the trust. Rather, be sure the beneficiary is properly set up. Not sure of the reason, though.
These are taxable accounts. I read that re-titling 401k or IRAs into a living trust counts as a distribution and triggers taxes. That's why people do not recommend doing so.
by cliffedelgado
Sat Mar 14, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Living Trust and SSN experience, any problems?
Replies: 10
Views: 660

Re: Joint Living Trust and SSN experience, any problems?

Thank you for the response and sharing your experience

You are correct, I will have to open a new trust account. Rephrasing:
1) Can I open two trust accounts at Vanguard with same title + trustees but different SSN? I have read this could be desirable if married filing separately.

2) Should I open two new trust accounts? This is probably up to me (assuming Vanguard allows it), but are there any advantages/disadvantages?

Spouse A Individual Account -> XXX Family Trust, UTD 03/14/20, SSN A
Spouse B Individual Account -> XXX Family Trust, UTD 03/14/20, SSN B

or

Spouse A Individual Account -> XXX Family Trust, UTD 03/14/20, SSN A
Spouse B Individual Account -> same account as above.
by cliffedelgado
Sat Mar 14, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Living Trust and SSN experience, any problems?
Replies: 10
Views: 660

Joint Living Trust and SSN experience, any problems?

In the process of setting up a joint living trust and getting ready to start moving accounts into the trust. I've read online that either of the grantor/settlor's SSNs can be used. There are two ways to interpret this: 1) Choose one SSN (A) and use the same (A) for all accounts. 2) Use A for some accounts and B for some accounts. I believe we can do (2). Does this still work for accounts at the same institution? Any experience with this? For example, we both have individual accounts at Vanguard and other institutions. When I convert, I will provide "Trust Name XYZ" with SSN A. Trustees will be both myself and spouse. When my spouse converts, spouse will provide "Trust Name XYZ" with SSN B. Trustees will be both myself an...
by cliffedelgado
Tue Feb 18, 2020 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Living Revocable Trust and California SB-909 Uniform Trust Decanting Act, when to prohibit it?
Replies: 0
Views: 222

Living Revocable Trust and California SB-909 Uniform Trust Decanting Act, when to prohibit it?

I am drawing up a living revocable trust and the attorney mentioned SB-909 uniform trust decanting act. I didn't find much about it online, except for legal mumbo jumbo. 1) From my reading, it seems to allow a successor trustee to make limited changes to an irrevocable trust. The beneficiaries cannot be changed. 2) A revocable trust can expressly prohibit decanting, making SB-909 not applicable. Can anyone give examples of when one would want to allow SB-909? And examples of when one would NOT want to allow SB-909? I read one case for allowing it is if a regular living trust is set up, but a special needs trust is needed to protect the beneficiary. With SB-909, the assets can be transferred to a special needs trust by the successor trustee.
by cliffedelgado
Mon Jan 13, 2020 5:45 pm
Forum: Personal Consumer Issues
Topic: Revocable Trust with minors in California, which accounts to retitle?
Replies: 0
Views: 326

Revocable Trust with minors in California, which accounts to retitle?

I will be talking with an attorney next week on setting up a trust. We are in California. We have two kids in elementary school and want to set up a revocable trust in case we are incapacitated or dead before the kids are of age. I'll try to ask the attorney, but wanted to get the BH collective wisdom as well. I am confused on when/what accounts should be re-titled in name of the trust or when to put the trust as primary/secondary beneficiary. Any help in that regard would be appreciated. I am thinking some cash/brokerage accounts need to be retitled so that in the event of both spouse and I incapacitated but not dead (or 1 dead, 1 incapacitated), there is money to take care of the kids. All the POD/TOD/beneficiary accounts seem untouchable...
by cliffedelgado
Wed Oct 09, 2019 1:33 pm
Forum: Investing - Theory, News & General
Topic: highly compensated employee (HCE) Time bomb?
Replies: 91
Views: 11663

Re: highly compensated employee (HCE) Time bomb?

CnC wrote: Wed Oct 09, 2019 1:03 pm And perhaps my wife's company has a "safe harbor" plan that I am in aware of and we are both exempt from this and I made much to do about nothing.
Safe harbor plans still have to pass ACP testing if they allow after-tax contributions.
by cliffedelgado
Thu Jul 25, 2019 6:49 pm
Forum: Personal Investments
Topic: Moving out of high ER
Replies: 6
Views: 977

Re: Moving out of high ER

Thank you all.

The tips related to state taxes, 401k, Medicare surcharges, and Roth conversions will be investigated.

I looked at the statements back to 2002. Amazingly there has been no extra churning of the account. The old funds (Putnam Voyagers, Growth & Income etc) were merged into new funds, but it looks like cost basis was transferred and they were not forced to realize gains/losses. It also looks like there is no extra fee besides the ER.

I originally thought the Vanguard website was bad, but Putnam is far worse. I could not find an option to sell a fund. There is an option to exchange into one of their other funds, but no way to request a check. There are paper forms for that, which all require medallion signatures.
by cliffedelgado
Wed Jul 24, 2019 4:36 pm
Forum: Personal Investments
Topic: Moving out of high ER
Replies: 6
Views: 977

Re: Moving out of high ER

I'm not sure if there's a manager but I'll try to find out.

I saw the PMYAX fund was created in 2010, so I assumed someone must have made the change to buy it. The account is probably 20 years old and they usually set it and forget it. Another possibility is that the original Putnam fund was closed and they were automatically transferred to this one.

Thanks for the feedback, working through the tax issues when the funds are safely at Vanguard sounds like a good idea.