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Re: Advice for offer on ovepriced short sale house

No, your offer is not a waste of time, but you may have to keep offering it. I've seen a few houses drop a hundred thousand dollars on the MLS, and then get sold.
by donall
Sun Nov 02, 2014 11:13 am
 
Forum: Personal Consumer Issues
Topic: Advice for offer on ovepriced short sale house
Replies: 14
Views: 1303

Re: Any Legal ways to lower MAGI for ACA signup?

Contributing to a 401K, 401A, etc. is one of the best way to reduce income for ACA calculations. From the California Department of Healthcare Services: "Pre-tax contributions, such as those for child care, commuting, employer-sponsored health insurance, flexible spending accounts and retirement...
by donall
Sun Nov 02, 2014 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Any Legal ways to lower MAGI for ACA signup?
Replies: 34
Views: 4208

Re: COBRA Questions

When you get your COBRA paperwork, read it carefully. You will have almost 2 months to decide to fill out the paperwork and pay your premium. Paying the premium is retroactive, so if the time between the end of a job and start of insurance in the new job is less than 60 days or whatever your paperwo...
by donall
Sun Nov 02, 2014 10:27 am
 
Forum: Personal Consumer Issues
Topic: COBRA Questions
Replies: 19
Views: 1524

Re: Capital loss allowed?

OK, thanks for the information concerning cars and capital losses.
by donall
Wed Sep 24, 2014 7:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital loss allowed?
Replies: 5
Views: 341

Re: Capital loss allowed?

Thank you TheBeej418 for your quick response. I do not plan to use the car, I will sell it as soon as the title is clear.
by donall
Wed Sep 24, 2014 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital loss allowed?
Replies: 5
Views: 341

Re: Tree trimming cost

Not all trees need trimming. Almost no trees need trimming every year. If the branches fall over your property, then you usually you have the right to trim those branches. So more information is needed.
by donall
Wed Sep 24, 2014 4:39 pm
 
Forum: Personal Consumer Issues
Topic: Tree trimming cost
Replies: 30
Views: 2789

Capital loss allowed?

I may be faced with buying a car from a relative, who may be underwater on the loan. If I were then to sell the car for less than I bought it, can I claim capital short term losses?
by donall
Wed Sep 24, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital loss allowed?
Replies: 5
Views: 341

Re: IRS Relents! Notice 2014-54 permits Basis Isolation

My head is spinning after trying to read the IRS notice, thank you Alan S for the interpretation. Does the IRS notice mean that all of the money in the 401K must be distributed, or can there only be a partial twin distribution?
by donall
Sun Sep 21, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Relents! Notice 2014-54 permits Basis Isolation
Replies: 99
Views: 10545

Re: Did you reveal to your kids...your savings and salary

All I can say is don't, when the kids are young, as anything you do, say, have, or wish to have is not a secret. Example 1 When having dinner with our best friends they told us that our kids had a favorite game of "donall and donallspouse" where they role played us. :oops: Example 2 We got...
by donall
Sun Sep 14, 2014 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you reveal to your kids...your savings and salary
Replies: 75
Views: 7284

Re: WA state Teacher Retirement System questions

Can a contribution of approximately 5% give you (assume 30 years of employment) the same as 30% of your final average salary? Assume a final average salary of $100,000 for demonstration purposes. So that would make a difference of $60,000 or $30,000 with plan 2 and plan 3. The 5% employee contributi...
by donall
Sat Sep 13, 2014 11:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2387

Re: WA state Teacher Retirement System questions

Thank you all, this is great discussion. I have a lot info now. I'm not seeing the down side to Plan 2. There is one: The employee contribution to the pension is not fixed, and has been going up. On the other hand, the return is fixed (2% x years x salary). In plan 3, looks like only employer contr...
by donall
Sat Sep 13, 2014 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2387

Re: Three shares of stock, what to do with them?

Each company that uses Computershare has a bulletin that explains the fees involved in selling, buying, dividends, etc. for that particular stock. It's best to refer to that information, as often fees for selling can be higher than at discount brokerages. Note that sometimes setting up an account ha...
by donall
Sat Sep 13, 2014 9:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Three shares of stock, what to do with them?
Replies: 10
Views: 762

Re: WA state Teacher Retirement System questions

Here's a link to a comparison of plan 2 and plan 3
Please use the following link and click on "key differences chart"
http://www.icmarc.org/washingtonstate/p ... ences.html
by donall
Thu Sep 11, 2014 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2387

Re: WA state Teacher Retirement System questions

Oh, if the Plan 2 works how I think it does (similar to PERS 2), then the employee contributions are not able to be withdrawn by the employee ever, right? I think this is really significant because the attrition rate for teachers is just so high. I graduated from a teaching certification program in...
by donall
Thu Sep 11, 2014 9:56 am
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2387

Re: WA state Teacher Retirement System questions

Perhaps I am not reading all the details, but it seems that the defined contribution portion of plan 3 is employee contributions. If true, then plan 2 is better because Washington state will contribute 50% more to plan 2 participants. As far as I can tell you can be in either plan 2 or 3 and contrib...
by donall
Wed Sep 10, 2014 6:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2387

Re: Dry-Rot Repairs

Doesn't the type of repair depend the location and extent of the dry rot? I've always found it advantageous to have the dry rot removed to see what I am left with. Also if it the dry is structural, the type of repair will be different than if it is esthetic.
by donall
Tue Sep 09, 2014 11:21 am
 
Forum: Personal Consumer Issues
Topic: Dry-Rot Repairs
Replies: 4
Views: 643

Churning Account

So I am going through old paperwork at the request of a senior, who it seems does not throw anything away. I found a nine year old letter from a major investment firm that wanted a signature to assure them that "you have reviewed these transactions and, and that they are in line with your overa...
by donall
Tue Sep 09, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Churning Account
Replies: 1
Views: 393

Re: Need help arrive at monthly expenses after retirement

Hi, If the cost of medicare is ~$100/month, why is that the total healthcare retirement cost is around $250K for a couple? I get scared when people say it's 500lb gorilla :) Wouldn't medicare pay for everything? Would I need to supplement it with additional insurance? What would be cost of such ins...
by donall
Mon Sep 08, 2014 9:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help arrive at monthly expenses after retirement
Replies: 25
Views: 1668

Re: Credit Card Account [Automatically Closed] due to inacti

If you try to cancel a credit card you no longer want, it's virtually impossible. The only way I've found to kill a credit card is to not use it for several years. Thats not my experience. If you call the number on the back of the card and say you want to cancel the card, they will do so. They migh...
by donall
Sun Sep 07, 2014 10:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Card Account [Automatically Closed] due to inactivity
Replies: 29
Views: 2052

Re: Employer finding out you have a financial cushion?

If your wages are being garnished for a foreclosure of a large medical bill, the company will know ( I was shocked to see how many employees were in this group). Just plain old workplace gossip will illuminate many different financial situations. Managers may use this information to determine how de...
by donall
Sun Sep 07, 2014 5:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 72
Views: 8518

Re: Implications working additional job on Pension, SS, 401k

Kudos to your hard work and long range planning. Note that if you withdraw your money from the pension plan BEFORE you are eligible to receive a pension, then there will be no effect on Social Security. The NEA site has an explanation in plain English and an example on this page: http://www.nea.org/...
by donall
Sun Sep 07, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Implications working additional job on Pension, SS, 401k
Replies: 6
Views: 506

Re: WEP-Windfill Elimination provision - Social Security

WEP can decrease Social Security, not the Lithuanian pension. If your Lithuanian pension is being reduced, then rules from Lithuania may be in play.
by donall
Sat Sep 06, 2014 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: WEP-Windfill Elimination provision - Social Security
Replies: 3
Views: 430

Re: Alzheimer's and Prenup

Talk to a lawyer and a social worker ASAP.
by donall
Fri Sep 05, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's and Prenup
Replies: 20
Views: 3085

Re: Variable Annuity - Timing of Surrender Charges

Perhaps you can encourage your friends to investigate how many charges they are paying with an annuity, as surrender charges are only one of many charges that will probably add up to 5%. Luckily your friends probably have pensions.
by donall
Tue Sep 02, 2014 7:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity - Timing of Surrender Charges
Replies: 10
Views: 597

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
Wed Jul 23, 2014 11:09 pm
 
Forum: Investing - Theory, News & General
Topic: Does a 401k plan cost an employer money?
Replies: 32
Views: 1853

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
Wed Jul 23, 2014 11:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16722

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 10:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inheritance: Cash or Investments?
Replies: 15
Views: 1436

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 9:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping My Grandmother
Replies: 54
Views: 3431

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 9:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Cash out pension?
Replies: 30
Views: 1790

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 8:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keep house or sell
Replies: 14
Views: 965

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 7:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this a Vanguard quirk? [Adding beneficiaries to account]
Replies: 36
Views: 4461

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
Wed Jul 09, 2014 11:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: How I look at $ in the real world vs my retirement accounts
Replies: 50
Views: 7362

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
Wed Jul 09, 2014 11:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 3155

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
Wed Jul 09, 2014 11:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best ways to help a friend get started?
Replies: 27
Views: 1877

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 9:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: bogleheads thoughts on renter's insurance?
Replies: 40
Views: 4828

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 8:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to admit/should I admit alcohol problem to employer
Replies: 111
Views: 14123

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 12:08 pm
 
Forum: Personal Consumer Issues
Topic: elder care legal question
Replies: 13
Views: 1296

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 11:19 am
 
Forum: Personal Consumer Issues
Topic: Bad paint job - Course of action help pls
Replies: 28
Views: 2919

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 10:50 pm
 
Forum: Personal Consumer Issues
Topic: Getting toddler to brush their teeth
Replies: 53
Views: 2827

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 10:13 am
 
Forum: Personal Consumer Issues
Topic: Ideas on how deal with estate with tons of items
Replies: 29
Views: 2672

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 7:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Insurance? Is it a good idea?
Replies: 24
Views: 1934

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 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: With no children, who will take care of my finances?
Replies: 53
Views: 5993

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 8:51 pm
 
Forum: Personal Consumer Issues
Topic: How To Encourage A Young (Sensitive) Child In Sports
Replies: 115
Views: 5842

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 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property tax (Illinois)
Replies: 16
Views: 1341

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 8:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1241

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 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Temporarily Dropping Car Insurance
Replies: 13
Views: 1241

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 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Blind sided by IRS Audit of 2012 return: 529 plan earnings
Replies: 2
Views: 592

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 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keeping up with the neighbors and Balance
Replies: 95
Views: 10655

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 8:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: [I just graduated, fiancee has one more year - Marry now?]
Replies: 33
Views: 1186
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