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Indexed Universal Life

We have a salesman who is trying to push Aviva Indexed Universal Life on me (69 years old) claiming that this is a good way of protecting wealth from taxes and also build up cash value. I have looked at the prospectus and see that a huge chunk of my contributions go toward administrative expenses an...
by exaramco
Fri Dec 21, 2012 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Indexed Universal Life
Replies: 14
Views: 1409

Consolidate accounts

For years I have maintained accounts at Fidelity and Vanguard--did not want to put all my eggs in one basket. Now, I find it so convenient to speak in person, eye to eye, with Fidelity representatives in town, that I am considering consolidating all my accounts at Fidelity and closing my Vanguard ac...
by exaramco
Thu Jul 19, 2012 10:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Consolidate accounts
Replies: 3
Views: 415

Re: MRD and inverse mortgage

Of course you are all correct. This idea may make sense if we could guarantee to die in the house. Then the use of that money would have been free to us but not to our heirs. I suppose one should consider a reverse mortgage only as a last resort when income is needed. Thank you all.
by exaramco
Wed Jul 11, 2012 4:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: MRD and inverse mortgage
Replies: 15
Views: 545

Re: MRD and inverse mortgage

I understand and thank all of you for your replies. I understand the arguments but let's look at it another way--and, by the way I have not made a decision yet one way or another--what is wrong with releasing the equity in your house if it costs you nothing and you are not concerned with reducing th...
by exaramco
Wed Jul 11, 2012 3:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: MRD and inverse mortgage
Replies: 15
Views: 545

Re: MRD and inverse mortgage

I will clarify what I am trying to do. I know I will pay taxes, it's just that I want to pay taxes using funds that have the least return on investment. Right now, the equity in my house is returning nothing. So, why not release these funds to pay taxes and leave my other assets invested. The revers...
by exaramco
Wed Jul 11, 2012 3:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: MRD and inverse mortgage
Replies: 15
Views: 545

MRD and inverse mortgage

Objective: Pay taxes on MRD from sources providing the least growth. In three years I will begin withdrawing my Minimum Required Distribution, MRD, from my IRA account. These withdrawals will be taxed as ordinary income, raising my tax liability. I can pay the additional tax from the MRD itself or f...
by exaramco
Wed Jul 11, 2012 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: MRD and inverse mortgage
Replies: 15
Views: 545

ltc

I meant to say RPC (sorry) can you point me to more specific information on life insurance and ltc.

Vic
by exaramco
Wed Oct 13, 2010 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Planning for old age
Replies: 22
Views: 3231

LTC and insurance

LTC, can you point me somewhere more specific about life insurance and LTC. I followed your previous link but could not make heads or tails out of what they were saying. Thanks,


Vic
by exaramco
Wed Oct 13, 2010 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Planning for old age
Replies: 22
Views: 3231

Planning for old age

I know the subject of long term care has been discussed piecemeal before but I wold like to put it in the light of a financial analysis. As I see it, here are the alternatives: 1. Do nothing and hope for the best. 2. Buy long term care insurance. 3. Buy into a continuing care community. 4. Hire live...
by exaramco
Wed Oct 13, 2010 10:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Planning for old age
Replies: 22
Views: 3231

If this posting appears a second time, I apologize, There is no question that I come out ahead on my own as supported by the IRR of MY investment vs THEIR VA. I simply cannot convince the salesman theat a combination of US Treasuries and market index ETF provides me with guaranteed income and a low ...
by exaramco
Thu Apr 22, 2010 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Equity Indexed Annuity
Replies: 55
Views: 5376

I knew I would generate a lot of comments. I also had bad vibes for this product. First, let me apologize for some misinformation, the product is a Variable Annuity, NOT and EIA. My funds would be invested in a variety of mutual funds. How does this change the picture? The upside is that in a down m...
by exaramco
Thu Apr 22, 2010 11:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Equity Indexed Annuity
Replies: 55
Views: 5376

Equity Indexed Annuity

I am being offered a John Hancock annuity product called Venture Opportunity. The product is an annuity that can be indexed to a mix of stock, bonds, and money market. The attractive features are: a guaranteed 5% income on the benefit base. The benefit is adjusted yearly upwards according to the per...
by exaramco
Wed Apr 21, 2010 1:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Equity Indexed Annuity
Replies: 55
Views: 5376

Thank you all for your comments. Vanguard has a a large choice of BAB's, mostly long term. It does, however have a few 2024 CA BAB's callable in 2019. I have decided to stay away from the ETF becuase of the fluctuation in NAV; same for long term. I have also decided to stay away from CA bonds. This ...
by exaramco
Wed Nov 25, 2009 1:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Build America Bonds
Replies: 25
Views: 6824

Build America Bonds

I am intrigued by the recent Build america Bonds, BAB, and I would like to poll Bogleheads for their views. BAB are high yield, 7-8%, taxed municipal bonds. The Feds subsidize 35% of the interest payments. So, for example, a state offering a 7% BAB, pays out of pocket 4.5%--about the same as other m...
by exaramco
Sat Nov 21, 2009 11:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Build America Bonds
Replies: 25
Views: 6824

Roth Conversion

You are all correct, capital losses can only offset capital gain with the exception of the $3K. Thank you for setting me straight on that.

Vic
by exaramco
Mon Nov 09, 2009 7:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion
Replies: 3
Views: 1297

Roth Conversion

I have assets in both IRA and Roth accounts, age 65. I thought I could use my market losses in my taxable accounts and the resulting tax benefits to offset the tax liability of converting from IRA to Roth. My only source of income is Social Security, a few dividends, and maturing bond ladders in my ...
by exaramco
Sun Nov 08, 2009 9:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion
Replies: 3
Views: 1297

Wash Sale?

Is the sale of VTI shares (Vanguard Total Market) and the simultaneous purchase of RSP (Rydex Equal Weighted Shares) considered a wash sale for tax purposes? My thinking is that since they are different types of indexes that it would not be considered a wash sale. What is the thinking out there? :?:...
by exaramco
Wed Nov 04, 2009 3:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wash Sale?
Replies: 3
Views: 857

OAG,

Thanks you for the information. It sounds as if that with the proper pre-planning and meeting with a supervisor, the process should proceed as planned. It is quite a financial advantage and it would be a shame not to use it.
by exaramco
Thu Aug 27, 2009 1:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Repaying Social Security
Replies: 14
Views: 3152

OAG,

Thanks for the details. Why did the process take so long?

exaramco
by exaramco
Thu Aug 27, 2009 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Repaying Social Security
Replies: 14
Views: 3152

Sorry, what do all the abbreviations mean near the end of the entry?

exaramco
by exaramco
Wed Aug 26, 2009 7:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Repaying Social Security
Replies: 14
Views: 3152

:D Thank you SScritic for a clear and concise reply. There may be a chance that all the bureaucratic problems that are sure to come may actually shorten my life to a point where I may not break even!!

exaramco
by exaramco
Wed Aug 26, 2009 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Repaying Social Security
Replies: 14
Views: 3152

Repaying Social Security

:?: I have been reading the threads on the tribulatons of trying t repay social security and then refiling at full retirement age (FRA). Aside from the obvius bureaucratic risks, I have not read comments on the best age to repay. Assume that you start SS at age 62 at 75% of full benefits. Is it best...
by exaramco
Wed Aug 26, 2009 2:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Repaying Social Security
Replies: 14
Views: 3152

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