Search found 545 matches

Return to advanced search

Re: My car is (supposedly) totaled. What to do?

I'd take option #1 and not buy a car. I would rent a car for the few times I need one.
by donall
Tue Mar 31, 2015 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: My car is (supposedly) totaled. What to do?
Replies: 18
Views: 1175

Re: Implications of Marriage - she with debt and low income

banditking, you write: "She would continue, because of her low income (after business expenses), to qualify for subsidized ACA and possibly other assistance since my income is not factored into hers Should she return to school and close the business or otherwise stop working, there would be a h...
by donall
Mon Mar 30, 2015 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Implications of Marriage - she with debt and low income (WI)
Replies: 52
Views: 4508

Re: Mom seeking financial help - what to do?

Work with mom in setting up a monthly auto payment plan with IRS. Then automatically transfer that amount monthly to mom's account until the debt is paid up. Take the opportunity to work with mom and educate her on finances and taxes. It sounds like she needs more help with finances.
by donall
Sat Mar 28, 2015 10:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Mom seeking financial help - what to do?
Replies: 62
Views: 4468

Re: 401k vs. state pension

I don't think there is enough information for advice. How much is the pension? What is the formula? Can you really retire after 20 years (for you that would be 47)? What investments does the ORP have? Are they low cost? What is the spousal benefit? Note that both ORP and SERS impact Social Security.
by donall
Fri Mar 27, 2015 4:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k vs. state pension
Replies: 6
Views: 574

Re: Corrected 1099-DIV: Do I have to amend my return?

I would. Amending a return is easy if you already have it set up on tax software.
by donall
Mon Mar 23, 2015 9:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Corrected 1099-DIV: Do I have to amend my return?
Replies: 12
Views: 1119

Re: Newly retired teacher - tax questions

Assuming a solo small business, the health insurance premiums (for her) are a deductable business expense.
by donall
Sat Mar 21, 2015 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Newly retired teacher - tax questions
Replies: 5
Views: 618

Re: Parents:Have you had any luck teaching your kids about m

We've had 50/50 results with the same teaching.
by donall
Mon Mar 09, 2015 9:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents:Have you had any luck teaching your kids about money
Replies: 40
Views: 2648

Re: Loan Terms -- Helping a friend going through Divorce?

If you do make a loan to a friend or relative, have regular direct deposits made to your account. That way it is on autopilot.
by donall
Sun Feb 01, 2015 10:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Loan Terms -- Helping a friend going through Divorce?
Replies: 39
Views: 3448

Re: Help my 67 y/o mother retire

If you can chip away at this, it would be good, as I doubt that you can make a quick, overall bogle-type change. It does sound like your mom has sufficient resources for retirement. You might want to investigate her social security options that include the spousal benefit (if married 10 years or mor...
by donall
Wed Jan 07, 2015 9:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help my 67 y/o mother retire
Replies: 14
Views: 1942

Re: Slovenia And Croatia In May

Plitvice Lakes National Park (Plitvička Jezera) is one of Croatia's beautiful spots.
by donall
Wed Jan 07, 2015 1:40 pm
 
Forum: Personal Consumer Issues
Topic: Slovenia And Croatia In May
Replies: 25
Views: 1815

Re: Help with financial planning - Spouse died in Nov

Are you and DD getting Social Security benefits?
by donall
Wed Jan 07, 2015 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with financial planning - Spouse died in Nov
Replies: 9
Views: 1227

Re: Medicaid and Roth Conversion / Gain Harvesting?

Medcaid uses monthly income, while the Marketplace uses yearly income. You will be directed to Medicaid if your monthly income is at or below $2742 for a family of 4. Income limits for eligibility for children in medicaid are much higher, so the children will stay in Medicaid with income up to $71,5...
by donall
Wed Jan 07, 2015 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicaid and Roth Conversion / Gain Harvesting?
Replies: 22
Views: 1967

Re: Should I purchase a new car or wait?

yoshald wrote:Manufacturer recommendations or dealership recommendations? Some dealerships are greedy and recommend their own dubious scheduled maintenance.


Yes, these are two very different recommendations.
by donall
Mon Dec 29, 2014 10:44 pm
 
Forum: Personal Consumer Issues
Topic: Should I purchase a new car or wait?
Replies: 38
Views: 4412

Re: Roth IRA conversion -- transfer of securities

As far as I know, the cost of the security at the time of the roth conversion is the important thing. If there are any funds in traditional accounts, then the prorate rule will be determined by the balances of roth and traditional balances on 12/31.
by donall
Mon Dec 29, 2014 10:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roth IRA conversion -- transfer of securities
Replies: 3
Views: 326

Re: Advice For My Mother-In-Love

That large amount in money market is really an older person's need to feel secure. Money Market accounts have a history of pretty good interest in earlier years. Your mother-in-love has this imprinted on her, so don't try to change this too much. Best thing is to get this money into a CD ladder, wit...
by donall
Mon Dec 29, 2014 10:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice For My Mother-In-Love
Replies: 8
Views: 608

Re: Client Not Letting Independent Contractor Use LLC?

Not a lawyer here, but it seems easy enough to add your wife's name in parenthesis as the owner of the LLC. If that doesn't work, then filing some online paperwork to change the LLC name or even file "wife's name LLC" may work. Best wishes in the new year!
by donall
Mon Dec 29, 2014 10:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Client Not Letting Independent Contractor Use LLC?
Replies: 32
Views: 2988

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: 1450

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: 4908

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: 1654

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: 351

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: 351

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: 2909

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: 351

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: 116
Views: 15111

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: 7552

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: 2565

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: 2565

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: 794

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: 2565

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: 2565

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: 2565

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: 657

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: 404

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: 1702

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: 2141

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: 8844

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: 518

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: 452

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: 3177

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: 665

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: 1887

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: 16871

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: 1467

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: 3455

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: 1855

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: 994

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: 4757

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: 7452

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: 3205
Next

Return to advanced search