Search found 13 matches

by dallas01
Tue Oct 27, 2020 7:47 pm
Forum: Personal Investments
Topic: Advice on selling inherited securities
Replies: 7
Views: 694

Re: Advice on selling inherited securities

RetiredAL wrote: Tue Oct 27, 2020 7:41 pm Has their cost basis been updated at MS for the date of death? Your tax reporting will be easier to do if MS reports the updated basis cost on your 1099's and to the IRS.

Yes, the cost basis has been updated. Thanks
by dallas01
Tue Oct 27, 2020 6:27 pm
Forum: Personal Investments
Topic: Advice on selling inherited securities
Replies: 7
Views: 694

Advice on selling inherited securities

I recently inherited various stocks, ETF’s, close end funds, and municipal bonds with a combined value of approximately 900k. They are in a Morgan Stanley account. I’ve been retired almost ten years and have been extremely happy/comfortable following the Three Fund program here. I would simply like to sell all of the 900K mentioned above and fold it all into my Vanguard account. I would appreciate any input into how to do this if any of you kind folks have experience in this area. It almost seems too easy to just transfer the account into Vanguard and have Vanguard sell everything?? I sincerely thank you in advance.
by dallas01
Sat Jan 04, 2020 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Inheriting $
Replies: 1
Views: 677

Inheriting $

Greetings,
I will be inheriting approximately 750K from family member who recently passed away. This amount consists of various stocks, bonds, etc but no cash. It’s in a Merrill Lynch cash management account. I have a small amount in a ML CMA as well. Can I simply transfer these various securities directly into my Vanguard account without first liquidation? Id rather not have to pay the ML broker fees to sell theses.
Thanks in advance for any input.
by dallas01
Sun Sep 10, 2017 7:47 am
Forum: Personal Investments
Topic: Need help selling funds
Replies: 7
Views: 983

Re: Need help selling funds

With a great amount of embarrassment I have no idea what the Cost Basis Method I have lovesoft. Gill I don't know why that was not done either. I spoke to a rep from Vanguard when setting up the account and pretty much went with what she told me. Will soon be inheriting about 750k so I know I need to get this dialed in as you have made it painfully obvious I'm not on top of this like I should be. The "least gain/most loss" method is what I'll do. My sincere thanks.
by dallas01
Sat Sep 09, 2017 4:27 pm
Forum: Personal Investments
Topic: Need help selling funds
Replies: 7
Views: 983

Re: Need help selling funds

Sorry I was so brief, I was hoping it would be a simple process. Funds are 500 Index Fund, Dividend and Growth, and Total Stock Market Index Fund. We are in 15% tax bracket. Nothing in tax advantage accounts. We receive gifting $28,000 (14K x 2) per year. Hope this helps, and my sincere thanks.
by dallas01
Thu Sep 07, 2017 8:36 pm
Forum: Personal Investments
Topic: Need help selling funds
Replies: 7
Views: 983

Need help selling funds

Greetings,
Never planned on having to do this but in need of 100k to buy 2nd home from about 1 million in the "Three Fund Portfolio". Closing on Nov 1st. Are there any better ways to take this amount from these funds to reduce my tax exposure or keep from hurting myself down the road? Any advice would be greatly appreciated and thanks in advance.
by dallas01
Wed Jan 07, 2015 2:10 pm
Forum: Personal Investments
Topic: All my eggs in one basket?
Replies: 11
Views: 1721

Re: All my eggs in one basket?

Wow, great feedback and I sure appreciate it. I'm ashamed to admit that I had never read that about how Vanguard works and how really one needs not to put all their eggs in one basket. I read everything for over a year before I invested with Vanguard but missed that. I sure appreciate it!! Thanks all!!!
by dallas01
Wed Jan 07, 2015 1:00 pm
Forum: Personal Investments
Topic: All my eggs in one basket?
Replies: 11
Views: 1721

All my eggs in one basket?

I'm 57 and live entirely from my pension. I have 750k in Vanguard. I'm going to be receiving approx 800k from death of relative. I wonder if I should put that in Fidelity and invest in similar funds like I have in Vanguard. I realize this is not a huge amount as compared to most on this site but do wonder if I should split it up? Vanguard has been wonderful and I have zero complaints, but I do wonder what you folks that are much smarter/experienced than I think? Thanks is advance.
by dallas01
Wed Apr 03, 2013 11:43 pm
Forum: Personal Investments
Topic: Need idea on what to do with cash.
Replies: 4
Views: 725

Need idea on what to do with cash.

Greetings,
Due to the sale of a home I have 200k in cash I need to do something with. I do not want to tie it up in anything long term as I want to have it available and not want to have to sell something low etc. So, other than a money market paying about zero, do any of you fine folks have an idea where to park some cash and make more than .05% ??
Thanks in advance.
by dallas01
Sun Feb 03, 2013 9:12 pm
Forum: Personal Investments
Topic: 401 to IRA Can You Spend The Interest??
Replies: 5
Views: 631

Re: 401 to IRA Can You Spend The Interest??

Thanks very much for the help!!
by dallas01
Sun Feb 03, 2013 10:53 am
Forum: Personal Investments
Topic: 401 to IRA Can You Spend The Interest??
Replies: 5
Views: 631

401 to IRA Can You Spend The Interest??

Greetings, For those experienced folks out there I need some help please. I know if you roll your 401 into an IRA upon retirement at age 55 that is not a problem. I also know that since I am not 59 1/2 if I were to spend any of the 401/IRA I have to pay tax and penalty. I do not want to do a 72t as too complicated to figure out rate of distribution, SO here is my question. When I roll 401 into IRA/Vanguard mutual funds and they begin to accumulate value/interest can I draw that before age 59 1/2 without touching principal and NOT pay tax/penalty? My goal eventually is to set up where VG sweeps a nominal amount every month into bank account and just spend the interest and while I would like to do that after I am 59 1/2 I don't know what the ...
by dallas01
Thu Jan 31, 2013 2:42 pm
Forum: Personal Investments
Topic: How to split retirement funds.
Replies: 14
Views: 2099

Re: How to split retirement funds.

Thanks for input as I appreciate it. The question on all the cash is a good one and is due to the selling of a home. I will put half or so in something but not sure what that is. Thanks again, this is a wonderful place to exchange ideas and get help.
by dallas01
Wed Jan 30, 2013 10:35 pm
Forum: Personal Investments
Topic: How to split retirement funds.
Replies: 14
Views: 2099

How to split retirement funds.

I have been reading this site for some time now and sure enjoy it. I am retiring in 90 days at age 55 and have a 50k pension and 300k in cash. I will be rolling over 500k from my 401k and thought I would split it into three to five different funds with Vanguard. I have two brokers pursuing me to get the funds and invest them for me. Bottom line is besides the fees to buy what they suggest there is the 1.5% annual brokers fees. Do any of you smart folks see any reason not to just split up the 500k myself and avoid the broker? I do not need the 500k so will buy the funds then just leave them alone for the next 5 -10 years. Thanks in advance.