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Re: Does a 401k plan cost an employer money?

I'm a grad student. A couple months ago, I asked HR if students could contribute to 403b's or 457's (I know the title said 401k, but whatever). I was told only benefits eligible employees can contribute. This didn't surprise me. However, I'm just trying to understand - does a 401k/403b/457b cost an...
by donall
Thu Jul 24, 2014 12:09 am
 
Forum: Investing - Theory, News & General
Topic: Does a 401k plan cost an employer money?
Replies: 32
Views: 1776

Re: List of Worst financial advice (what not to do):

Worst advice I ever received was from my accountant(a relative who also happens to be a CPA) and that was funding a non-deductible traditional IRA as opposed to "backdooring" it into a Roth. Doing a conversion now would cost me(and my wife) thousands. Oh well, nothing like paying taxes tw...
by donall
Thu Jul 24, 2014 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16251

Re: Inheritance: Cash or Investments?

Thanks so much for all of the replies! Some very well reasoned suggestions for opting for the cash. From what I've read on other threads re: inheritance/windfalls, I think I will do as much of the following as I can with the money: 1. Pay off some student loans (6.8% return!) 2. Max my 401k contrib...
by donall
Wed Jul 23, 2014 11:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inheritance: Cash or Investments?
Replies: 15
Views: 1377

Re: Helping My Grandmother

There do not seem to be many choices for grandmother. Perhaps buy a $30,000 SPIA for a bit more monthly cushion, keeping the $7,000 for emergencies. Then as a number of responses have indicated, a thorough search for all the low income senior discounts available. Helping choose Medigap plans and Par...
by donall
Tue Jul 22, 2014 10:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping My Grandmother
Replies: 54
Views: 3298

Re: Cash out pension?

Any chance wife will return to government work in the same or a reciprocal pension system?
by donall
Sat Jul 19, 2014 10:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Cash out pension?
Replies: 30
Views: 1686

Re: Keep house or sell

If you have capital gains, then sell so you can take advantage of being an owner and not paying taxes on capital gains. If you rent the unit, you may lose some part of the owners sale exclusion and also have to pay back the depreciation. Property taxes may also be higher for a non-owner occupied uni...
by donall
Thu Jul 17, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keep house or sell
Replies: 14
Views: 949

Re: Is this a Vanguard quirk? [Adding beneficiaries to accou

I think Schwab also has this type of situation, but I can't remember what type of account. If you have a living trust set up for real estate, then you can also use the living trust for account holdings by retitling.
by donall
Wed Jul 16, 2014 8:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this a Vanguard quirk? [Adding beneficiaries to account]
Replies: 36
Views: 3861

Re: How I look at $ in the real world vs my retirement accou

If you fret over a paper loss, then try not to look at your account daily, because there will be days that the account value will go down. Check monthly or even less often. After a few years you will have made money on dividends and capital gains, so a paper loss may be less noticeable if the decrea...
by donall
Thu Jul 10, 2014 12:49 am
 
Forum: Personal Finance (Not Investing)
Topic: How I look at $ in the real world vs my retirement accounts
Replies: 50
Views: 7033

Re: Affordable health insurance

It might be best to keep your current policy with COBRA, as you will probably have too much income (from the sale of your company) to make use of the health insurance marketplace. Next year, depending on your income, it may make sense to see if you can get a subsidy for your health insurance. Not su...
by donall
Thu Jul 10, 2014 12:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 3009

Re: Best ways to help a friend get started?

Yes, I figured someone would point out the SS issue. I could do that, not a problem to me. She would get less money now -- my contribution would come out of her pay. Why? If you have the money now, why not just pick up that expense by increasing her pay? By doing so, you'll be increasing her Social...
by donall
Thu Jul 10, 2014 12:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Best ways to help a friend get started?
Replies: 27
Views: 1834

Re: bogleheads thoughts on renter's insurance?

Renter's insurance is reasonably priced and well with having. A landlord's insurance can cover damages to the unit and also hotel stays, but it does not cover a tenant's property.
by donall
Fri Jul 04, 2014 10:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: bogleheads thoughts on renter's insurance?
Replies: 40
Views: 4633

Re: How to admit/should I admit alcohol problem to employer

It seems the focus was on admitting how your drinking has wronged other people, when I don't think that applies to my situation. When you've been sober a few months and have taken a realistic inventory of your actions and relationships it would totally surprise me if you still agree with that state...
by donall
Fri Jul 04, 2014 9:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to admit/should I admit alcohol problem to employer
Replies: 111
Views: 13247

Re: elder care legal question

After 3 days in a hospital, Medicare will pay for rehabilitation in a rehab facility. Look up the regulations, but if used with a Medigap policy there are 90 days that are paid as long as the patient improves. Home visits to check on the individual and also physical therapy can also be paid by Medic...
by donall
Thu Jul 03, 2014 1:08 pm
 
Forum: Personal Consumer Issues
Topic: elder care legal question
Replies: 13
Views: 1270

Re: Bad paint job - Course of action help pls

I can't help you on the legal side of things but I can tell you in my personal experience in painting my own home interior and exterior that paint quality has a HUGE impact on finished look particularly if your painter only applied a single coat. My direct comparison is between Lowe's Valspar, Walm...
by donall
Thu Jul 03, 2014 12:19 pm
 
Forum: Personal Consumer Issues
Topic: Bad paint job - Course of action help pls
Replies: 28
Views: 2613

Re: Getting toddler to brush their teeth

There's some funny advice on this posting and made me chuckle. But a two year old is probably the hardest person to work with and perhaps the OP may just need to wait until the child is 3 after all the other strategies mentioned are unsuccessful.
by donall
Wed Jul 02, 2014 11:50 pm
 
Forum: Personal Consumer Issues
Topic: Getting toddler to brush their teeth
Replies: 53
Views: 2507

Re: Ideas on how deal with estate with tons of items

I concur with pervious posters to take the coins out of the sale and spend some time to have more accurate appraisals done. Seniors have a habit of hiding items in books, between sheets, pockets, and various long forgotten places for safeguarding. I would also recommend using a metal detector in the...
by donall
Mon Jun 30, 2014 11:13 am
 
Forum: Personal Consumer Issues
Topic: Ideas on how deal with estate with tons of items
Replies: 29
Views: 2475

Re: Long-Term Care Insurance? Is it a good idea?

Plan to self insure, and have an adequate nest egg to use if necessary
by donall
Wed Jun 25, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Insurance? Is it a good idea?
Replies: 24
Views: 1881

Re: With no children, who will take care of my finances?

Yes, please simplify your finances before you cannot take care of them yourself. As someone who has helped older relatives, it takes a lot of time, primarily because it is hard to change for elders. Banks may have changed, but the elder's view of the bank has not. Investing does not need to have loa...
by donall
Tue Jun 17, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: With no children, who will take care of my finances?
Replies: 53
Views: 5852

Re: How To Encourage A Young (Sensitive) Child In Sports

When I coached AYSO soccer for 6 year olds, I think I did a lot of coaching that was, "Kick the ball that way." Halftime was definitely confusing for the kids, when fields were switched. Some kids just danced with themselves on the field. One or two were competitive. Most just bunched up a...
by donall
Sat Jun 14, 2014 9:51 pm
 
Forum: Personal Consumer Issues
Topic: How To Encourage A Young (Sensitive) Child In Sports
Replies: 115
Views: 5584

Re: Property tax (Illinois)

We plan on ending up in Southern Wisconsin in the next 10-20 years. That place is really building up and there will be a lot of work. Uline just moved to Pleasant Prairie and are even building a new building, adding 500 jobs. Amazon is currently building two warehouses. I think more businesses will...
by donall
Wed Jun 11, 2014 11:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property tax (Illinois)
Replies: 16
Views: 1323

Re: Temporarily Dropping Car Insurance

Actually homeowner's insurance usually excludes automobiles. In the case of the car in the garage, the homeowner's insurance would probably cover the garage and contents of the garage, but not the car. THIS. Automobiles are excluded from the homeowners policy. If one puts a car on blocks over the w...
by donall
Wed Jun 11, 2014 9:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1223

Re: Temporarily Dropping Car Insurance

Car insurance is different from health insurance and you can have gaps. If you don't have a car, you don't need car insurance. if you don't drive your sports car in winter months you can cancel the car insurance and then activate it when you start driving in summer. Of course if a tree falls on the ...
by donall
Wed Jun 11, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1223

Re: Blind sided by IRS Audit of 2012 return: 529 plan earnin

I think the IRS is running very shorthanded. It took me numerous letters and phone calls to straighten out one of those "proposed changes to my return" letters for a senior relative. It got to the point of registered letters from the IRS. Even though the relative was in the 0 tax rate cate...
by donall
Wed Jun 04, 2014 11:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Blind sided by IRS Audit of 2012 return: 529 plan earnings
Replies: 2
Views: 574

Re: Keeping up with the neighbors and Balance

So who has more stress? Perhaps your neighbor is envious of your situation?
by donall
Wed Jun 04, 2014 11:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keeping up with the neighbors and Balance
Replies: 95
Views: 10005

Re: I just graduated, fiancee has one more year - Marry now?

If fiancee is looking forward to a large and memorable wedding, then moving the date forward to save on taxes and have a courthouse wedding is not a good idea. Fiancee is also in medical school, so having the wedding after graduation may be better timing. Saving $4,000 is a great idea, but will look...
by donall
Wed Jun 04, 2014 9:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: [I just graduated, fiancee has one more year - Marry now?]
Replies: 33
Views: 1164

Re: tenant advice?

So the tenant does not want to move out, even though they were given notice! From my reading of the OP post it seems the notification was given a month in advance of the lease termination. That may be too little time to find a new apartment, hence the tenant irritation. So before things get real nas...
by donall
Wed Jun 04, 2014 8:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: tenant advice?
Replies: 46
Views: 2804

Re: Books on Good Financial Decisions for My Daughter

Jane Brytant Quinn "Making the Most of Your Money" You have practically listed its Table of Contents (sort of) There are other threads recommending this book: http://www.bogleheads.org/forum/viewtopic.php?f=10&t=137729&p=2034990 Excellent book that is better used as a resource tha...
by donall
Sun Jun 01, 2014 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Books on Good Financial Decisions for My Daughter
Replies: 14
Views: 1052

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

Not a fan of Farmers, as they seem to have high rates for homeowner's insurance when compared to other companies. Even State Farm had rates that were 50% lower than Farmers.
by donall
Sun Jun 01, 2014 12:35 am
 
Forum: Personal Finance (Not Investing)
Topic: How much $ savings needed to change car insurance companies?
Replies: 29
Views: 2035

Re: Convincing a parent to retire

It would be best if your dad could keep the practice going with a dentist he has hired until your sister steps in. Three years is a long time for a practicing dentist in their 70s, so I think there should be a range of contingency plans. The goodwill of the practice is worth a lot, so if dad cannot ...
by donall
Sat May 24, 2014 8:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Convincing a parent to retire
Replies: 19
Views: 3145

Re: Mortgage log jam

Living in a RV park (and clearly wanting to move) and indicating that this is the best house..... But then if the house is special and you want the house, go ahead and offer more. Make sure you have the offer contingent on an appraisal that meets or exceeds the selling price.
by donall
Fri May 23, 2014 8:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage log jam
Replies: 26
Views: 1487

Re: Any issues giving [relatively expensive] gifts to parent

I think you should enjoy the action of giving and not worry so much of what other members of the family will think. Your parents are lucky and I hope they enjoy the trip.
by donall
Mon May 19, 2014 11:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any issues giving [relatively expensive] gifts to parents?
Replies: 11
Views: 941

Re: Parent in financial mess. General and SS timing advice

Thank you all. This'll be a long reply to catch back up. Or, in approved emergencies she has a card of mine with her name on it (which, sadly, I had to remind her last night is not a right). My sibling and I have spoken often to her about her expenses on drinking and smoking to no avail, and I feel...
by donall
Sat May 17, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parent in financial mess. General and SS timing advice
Replies: 35
Views: 2678

Re: Concern About Parent

An elder relative made everything simple. Gave children copies of beneficiary forms and a one page will. Not need to know amounts in account.
by donall
Tue May 13, 2014 10:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Concern About Parent
Replies: 32
Views: 2666

Re: Squirrels ate through sceen, plastic & wood to get bird

You will not win with squirrels. My neighbor fought long and hard but eventually gave up and let the squirrels own the garage.
by donall
Mon May 12, 2014 8:30 pm
 
Forum: Personal Consumer Issues
Topic: Squirrels ate through sceen, plastic & wood to get bird feed
Replies: 37
Views: 2123

Re: Medicaid Qualification with a variable income.

So if I was someone who lost (of course this would be a qualifying event) or does not have a job, I would sign up for Medicaid, assuming of course my income qualifies me. States vary, but some states will enroll you at the beginning of the month, even if you enroll later that month. Also your UNPAID...
by donall
Mon May 12, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Medicaid Qualification with a variable income.

You can sign up for health insurance and Medicaid any time. You can sign up for Medicaid at any time that you qualify for Medicaid. However no insurer outside the exchange is likely to sell you a policy outside of the enrollment period without a qualifying event because they cannot underwrite any a...
by donall
Mon May 12, 2014 10:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Medicaid Qualification with a variable income.

138% FPL for one person = $1,342/month gross, before taxes. If you make $1,343 you are not eligible for Medicaid. It is too late to sign up for Marketplace health insurance, but not for Medicaid. . Why? I thought a change in ones situation allowed one to sign up outside of the open enrollment perio...
by donall
Mon May 12, 2014 1:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Helping cash poor, land rich relative

Look up forestry consultants. They can give you estimates on harvesting timberland and estimate the value of the property.

Your money is well spent to pay for live in help for aunt and avoid aunt moving in with MIL.
by donall
Sun May 11, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping cash poor, land rich relative
Replies: 14
Views: 2149

Re: In dire need of perspective!

Sometimes it is better if your employer makes the decision for you. I think this is a hard decision. How do the significant persons in your life feel about your situation?
by donall
Sun May 11, 2014 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: In dire need of perspective!
Replies: 14
Views: 1043

Re: RETIRING May 31! Any advice .....?

Good choice to retire mid-year. Why is that? Would that decrease your last year's salary and then potentially decrease the calculated SS benefit? It's a good feeling to retire in Spring. SS may be affected, but is dependent on income and years of work. If high income and many years of work, the eff...
by donall
Sun May 11, 2014 9:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: RETIRING May 31! Any advice .....?
Replies: 87
Views: 8758

Re: Medicaid Qualification with a variable income.

138% FPL for one person = $1,342/month gross, before taxes. If you make $1,343 you are not eligible for Medicaid.
It is too late to sign up for Marketplace health insurance, but not for Medicaid.
by donall
Sun May 11, 2014 9:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Medicaid Qualification with a variable income.

This is a gray area that has no right answer. The marketplace insurance is based on yearly income, while Medicaid is based on monthly income. I would be very careful to keep income at Medicare level to avoid the problems inherent with changing health insurance systems. With all due respect, donall,...
by donall
Sun May 11, 2014 8:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Helping cash poor, land rich relative

Perhaps a reverse mortgage is possible so that MIL does not expend her $$. Most seniors can live on $30K/year, so the expenses of $3000/mo + SS seem rather high. I hope aunt is not driving anymore.
by donall
Sun May 11, 2014 7:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping cash poor, land rich relative
Replies: 14
Views: 2149

Re: Helping cash poor, land rich relative

I think that farmland has a high value currently. Can the farmland and farmhouse be leased earning income for the aunt? It is not easy to manage a household that is 50 miles away. Perhaps selling the land with self-financing/land contract can lessen the tax blow, so that taxes will be paid over each...
by donall
Sun May 11, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Helping cash poor, land rich relative
Replies: 14
Views: 2149

Re: Medicaid Qualification with a variable income.

This is a gray area that has no right answer. The marketplace insurance is based on yearly income, while Medicaid is based on monthly income. I would be very careful to keep income at Medicaid level to avoid the problems inherent with changing health insurance systems.

edited to correct Medicaid
by donall
Sat May 10, 2014 7:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid Qualification with a variable income.
Replies: 12
Views: 902

Re: Should I buy a fun car?

Both an Audi A5 or BMW 650i convertible are great cars. The A5 tends to be expensive as there are less of them than an A3, so the initial owner did not get much of a discount on the price. The A5 also has front wheel or all wheel drive. The BMW has rear wheel drive. These are very different driving ...
by donall
Thu May 08, 2014 10:26 pm
 
Forum: Personal Consumer Issues
Topic: Should I buy a fun car?
Replies: 59
Views: 3146

Re: Chase Bill Pay

Online bill pay is a great service. But one still has to check the address and account number on the bill (yes, these do change) to ensure payment.
by donall
Thu May 08, 2014 10:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Chase Bill Pay
Replies: 18
Views: 1332

Re: When is life insurance no longer affordable?

HardKnocker wrote:Never be worth more dead than you are alive.


++++ This made me laugh++++
by donall
Thu May 08, 2014 8:21 am
 
Forum: Personal Finance (Not Investing)
Topic: When is life insurance no longer affordable?
Replies: 14
Views: 1202

Re: Obligations to help parents financially?

Boy I would jump on this and start paying the loan agency directly. Student loans are not forgiven in a bankruptcy. And then I would just tell the parents that I can't help you, as I am paying off the loan when the inevitable next time "I need money" conversation comes up. I would not pers...
by donall
Thu May 08, 2014 8:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Obligations to help parents financially?
Replies: 77
Views: 7108

Re: Should I buy a fun car?

fareastwarriors wrote:Gotta live a little!

If you got all your other finances taken care of, why not spend a little?


Yes, sounds like a good idea.
by donall
Wed May 07, 2014 6:14 pm
 
Forum: Personal Consumer Issues
Topic: Should I buy a fun car?
Replies: 59
Views: 3146
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