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Re: Advice sought for $6M investment

I didn't see that you mentioned the state you live in. If it has, say 5%+, state income tax, I'd think your state-specific muni bonds/funds would be best.
by gerntz
Mon Oct 20, 2014 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice sought for $6M investment
Replies: 36
Views: 3714

Re: Owning property jointly with family member

If I correctly assume that you own this property 50/50 with someone else, I don't see how the other party can do anything without your agreement. Net, when you say brother will give property to his son, how can ownership be transferred without you?
by gerntz
Wed Oct 15, 2014 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Owning property jointly with family member
Replies: 15
Views: 1245

Re: Equity Allocation Review

Curious: Are any of these bond funds; i.e., where is the 40% bonds?
by gerntz
Tue Sep 16, 2014 4:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Equity Allocation Review
Replies: 8
Views: 491

Re: Ethics of Multi-Generational Tax Optimization

If he wants to maximize assets going to his heirs, why not maximize them? You've stated the case that he's never running out before death.
by gerntz
Fri Sep 12, 2014 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ethics of Multi-Generational Tax Optimization
Replies: 23
Views: 1849

Re: state income tax withheld from IRA distribution?

I had no problem at Schwab having state taxes withheld from IRA withdrawal. Did required 10% minimum Fed tax withholding as part of the deal and 1% non-taxes distribution, so maximum state % was 89.
by gerntz
Wed Jul 30, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 2057

Re: Why not include gold?

I own GLD at about 5% of my assets. There are clearly uses for it or it wouldn't be mined or owned at all. You can like or not like those uses personally. What should its price be? An article in the WSJ today states that Au mining companies are in trouble because they can't make money mining & r...
by gerntz
Wed Jul 09, 2014 2:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why not include gold?
Replies: 48
Views: 3946

Re: Mimicking DFA Portfolio

I can't see where you state the size of your DFA portfolio, but if it's $500K+, there are several advisors who manage DFA portfolios that size passively for under 1%. They do it for a flat annual fee of $2500-5000.
by gerntz
Wed Jun 25, 2014 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mimicking DFA Portfolio
Replies: 18
Views: 2790

Re: Retirement age now But all in cash

Pretty sure you don't want to hear this, but your situation would be much improved by not retiring for 4-5 years vs. in 2. You'll use up much less of your savings prior to SS kicking which will give you much more financial safety & flexibility.
by gerntz
Sun Jun 15, 2014 9:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Retirement age now But all in cash
Replies: 18
Views: 2990

Re: Retirement age now But all in cash

Another idea might be to file my own (lesser) claim when my husband is at his FRA. I believe he could collect half of my full amt while I would collect my FRA Benefits less about 17% since I would not be 66 yet. I don't think this is correct, but there are better SS minds than me here. My understan...
by gerntz
Sun Jun 15, 2014 9:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Retirement age now But all in cash
Replies: 18
Views: 2990

Re: Where would you retire, if $ were no object?

Monoco - no taxes now or in the future. I get to decide where my money goes.
by gerntz
Wed Apr 23, 2014 7:55 pm
 
Forum: Personal Consumer Issues
Topic: Where would you retire, if $ were no object?
Replies: 89
Views: 19388

Re: The Power of Zero (0% tax bracket in retirement) book

I think 0% tax is a worthy goal. You/me deciding what to do with our assets/gains rather than others deciding is true freedom.
by gerntz
Wed Apr 23, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Power of Zero (0% tax bracket in retirement) book
Replies: 22
Views: 4016

Re: If you have ACA health insurance, what is your experien

as far as the states that did not expand medicaid. the ACA only guarantees to pay for these additional people covered under this for 3 years. after 3 years the federal government pays 90 percent. 10 percent may not seem a lot but a state can't print money like the federal government. most states ar...
by gerntz
Mon Apr 21, 2014 4:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 222
Views: 16832

Re: Inheritance / gift question

My wife's 90 y.o. grandmother would like to give 5 of her 10 great grandchildren currently under the age of 10 some inheritance (assuming less than $13k per grandchild) What's $13K got to do with anything? The limit/year w/o reporting to Feds is now $14K & the lifetime limit is $5.2M w/o owing ...
by gerntz
Tue Apr 15, 2014 7:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inheritance / gift question
Replies: 12
Views: 1379

Re: Minimizing Taxes

To me, giving a lot of it away makes a lot of sense. I mean do you want to decide where your earnings go or do you want the various governments you pay to be deciding? Particularly advantageous gifting is highly appreciated stock in taxable savings.
by gerntz
Sat Apr 05, 2014 2:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Minimizing Taxes
Replies: 17
Views: 1127

Re: 3 Big Questions to Ask an Adviser

Investment advisers are everywhere. There are thousands of them. Finding one that’s right for you is a challenge. How do you find an adviser that fits your needs? I’ve read articles that provide 20 questions, 10 questions, etc. Here are my “3 Big Questions” to narrow the adviser universe down to a ...
by gerntz
Sun Mar 16, 2014 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: 3 Big Questions to Ask an Adviser
Replies: 34
Views: 2840

Re: What is your 2013 Federal Effective Tax Rate?

So far it's sitting at 2%. I screwed up. Seeing what I can do to get it down further.
by gerntz
Sat Mar 15, 2014 1:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is your 2013 Federal Effective Tax Rate?
Replies: 72
Views: 5148

Re: When to file social security benefits 62 or 67?

I have no idea how you can decide that nine years from now you WILL retire at 62 when you'll have minor kids. Without more explanation, feels irresponsible. What's wrong with working another 2,3,5 years?
by gerntz
Thu Mar 13, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: When to file social security benefits 62 or 67?
Replies: 56
Views: 3206

Re: Two commas...

It's that 3rd comma that's the killer to get to.
by gerntz
Fri Mar 07, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two commas...
Replies: 32
Views: 3499

Re: 1st time filing tax return

I'm sorry.
by gerntz
Fri Feb 21, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1st time filing tax return
Replies: 6
Views: 384

Re: Estate Planning- Attorney fees $5.5K

We have been quoted fees of $5.5K for financial power of attorney, health care power of attorney, Living Will, Memorial Directive, revocable living trust, Pour over wills, LLC formation for second property in the same state. Dieharddoc Ex the LLC, we paid $3.5K for these documents for the two of us...
by gerntz
Thu Feb 13, 2014 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning- Attorney fees $5.5K
Replies: 34
Views: 4328

Re: Marginal tax rate: statutory 15%, effective 30%

Anyone think the difficulty in figuring out where the income breaks & types are to minimize taxes isn't deliberate?
by gerntz
Thu Feb 13, 2014 5:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Marginal tax rate: statutory 15%, effective 30%
Replies: 100
Views: 8383

Re: What are you paying for your personal tax prep?

Maybe I should bite the bullet and let the CPA have one final go at it, then I should also do the taxes with either Tax Act or Turbo Tax to see what, if any, differences the taxes end up being (but not file it with the IRS) while developing confidence. I used to do my own taxes until I got married ...
by gerntz
Thu Feb 13, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: What are you paying for your personal tax prep?
Replies: 28
Views: 1578

Re: Buying a ski condominium

I did something similar in Florida several years ago. It worked out OK over the ten years I owned it. You need to be aware of taxation issues on this, especially personal use restrictions and claiming depreciation. You might want to consult with a tax professional beforehand to get proper info up f...
by gerntz
Fri Jan 31, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a ski condominium
Replies: 22
Views: 2695

Re: Family Inheritance / (Family Feud)

Most all trusts are irrevocable once the person creating the trust dies. Net, grandpa likely has no ability to influence what happens with the trust assets - just as your Mom doesn't (Why would/should he?). She should definitely legally fight for her share till proven wrong.
by gerntz
Tue Jan 28, 2014 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Family Inheritance / (Family Feud)
Replies: 16
Views: 3066

Re: Any reason to still write checks?

Gifts - birthdays/weddings/charity events - and home repair guys apparently working off the books.
by gerntz
Sat Jan 18, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any reason to still write checks?
Replies: 76
Views: 2880

Re: AA pre, at and post retirement

I am at retirement (2 months from today at 62 years of age). I have been moving my AA slowly over the past ten years from roughly 70%/30% (equity/fixed) to currently roughly 52%/48%. I have enough to support my retirement with SS and a pension annuity. One school of thought is to reduce risk with m...
by gerntz
Tue Jan 14, 2014 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: AA pre, at and post retirement
Replies: 17
Views: 1125

Re: When to start social security

Toons wrote:I started @62 no regrets,enjoying the extra cash every month :happy
So you wouldn't enjoy another 8% a month had you started at 63?
by gerntz
Sat Jan 11, 2014 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: When to start social security
Replies: 30
Views: 2011

Re: financial adviser? advisor?

Advisor is the masculine form.
by gerntz
Tue Jan 07, 2014 3:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: financial adviser? advisor?
Replies: 26
Views: 1992

Re: Quick question re gift timing

We have gifted appreciated stock to charities. I've always presumed, and my CPA counts this way, that when the stock leaves my account that the gifting is completed.
by gerntz
Wed Jan 01, 2014 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Quick question re gift timing
Replies: 12
Views: 903

Re: At what age did your portfolio hit $1M?

Inflation has a distorting effect on people's answers. Older respondents would reach it at a later age than their younger counterparts today. You know what the old folks say - "I remember when a million dollars was a lot of money"? :oops: Reminds of the TV show as a kid called The Million...
by gerntz
Wed Jan 01, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: At what age did your portfolio hit $1M?
Replies: 33
Views: 5315

Re: Tax questions

If the company provides group life insurance or you buy group life insurance thru them this can create "imputed" income.
by gerntz
Tue Dec 24, 2013 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax questions [adjusted earnings, PMI]
Replies: 2
Views: 353

Re: Obamacare -- is March 31st the real deadline?

How would anyone know what's "real" with the constant changes?
by gerntz
Tue Dec 24, 2013 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obamacare -- is March 31st the real deadline?
Replies: 37
Views: 1960

Re: Did not withdraw enough taxes for 2013

Make a Traditional IRA withdrawal before the end of the year and designate some/all of it as tax withholding - Fed and/or state. Mutual fund companies/brokerages typically have forms online for this. Since it's withholding & not a tax estimate, the time of the year doesn't matter to the tax man....
by gerntz
Tue Dec 24, 2013 3:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did not withdraw enough taxes for 2013
Replies: 35
Views: 2065

Re: Distribution of Estate to 3rd World Country

Correction: I don't know how I got that crazy number in the second-to-last paragraph. Please change "$784 thousand" to "about $98 thousand". Sorry for any inconvenience. EZ I presume you forgot to divide the total estate of $784K by the total full share beneficiaries which I ass...
by gerntz
Tue Dec 24, 2013 2:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Distribution of Estate to Heirs in the Philippines]
Replies: 25
Views: 2605

Re: $20MM in Vangaurd MF - How to Pass Down To Children?

bsteiner wrote:Give $14,000 per year per recipient.

Use the $5.25 million exempt amount.

bsteiner, do I understand correctly that the Gift Tax doesn't start until after you've given away $5.25M excluding $14K/yr/person to an unlimited number of people? Thank you.
by gerntz
Thu Dec 19, 2013 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: $20MM in Vanguard MF - How to Pass Down To Children?
Replies: 28
Views: 4470

Re: Mom put house in kids name(s), now what?

If at some time your mother could need nursing home care & her assets aren't that great, not having the house in her name for 5 years + would stop Medicaid from taking that asset to pay for the nursing care. Don't know if this is feasible, but transferring property to kids name & renting it ...
by gerntz
Mon Dec 09, 2013 6:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mom put house in kids name(s), now what?
Replies: 13
Views: 2269

Re: If Not TurboTax, What?

A CPA. We're not the richest, but we have income from numerous sources and of various types. Just taking the income as it comes & plugging it into a program would miss the savings opportunities that avoiding & bringing forward streams provide. His understanding of how these components are im...
by gerntz
Mon Dec 09, 2013 5:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: If Not TurboTax, What?
Replies: 143
Views: 13149

Re: Signing up for health care

As savvy as the average Boglehead is compared to the general public, reading this makes me feel for the average person that has to use this thing.
by gerntz
Thu Nov 21, 2013 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signing up for health care
Replies: 324
Views: 25093

Re: Postpone Social Security to convert some tIRA to Roth?

Besides doing Roth conversions, you could take LTCG & get those taxed Federally at 0% up to $72K taxable income.
by gerntz
Thu Nov 21, 2013 11:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Postpone Social Security to convert some tIRA to Roth?
Replies: 18
Views: 1186

Re: Reasonable Amount of Time for an Asset Manager

Considering market fluctuations, what is a reasonable amount of time to give an asset manager to gauge their effectiveness - using comparable index funds as a benchmark? Personally, I wouldn't trust anyone to try to beat the indexes. Scares me to death. Getting me diversified & correcting for a...
by gerntz
Fri Nov 08, 2013 6:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reasonable Amount of Time for an Asset Manager
Replies: 10
Views: 464

Re: Help with my dad's retirement assets

Be careful with selling the company stock. That is often "the exception to the rule" since there are so many special rules for company stock. Be sure to know the tax consequences before you do anything with it. This is a good point. See the May, 1999 issue of "The CPA Journal" &...
by gerntz
Mon Nov 04, 2013 12:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with my dad's retirement assets
Replies: 9
Views: 1050

Re: Social Security Strategies

If spouses A and B have an FRA of 67, and spouse A is 2 years older than spouse B and a low wage earner (spouse B is a high wage earner), what should this couple's social security strategy be in order to maximize benefits? They do not need to rely on social security and could wait until age 70 if n...
by gerntz
Mon Nov 04, 2013 11:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Strategies
Replies: 22
Views: 2670

Re: OK for lower earning spouse to take Social Security at 6

The math of first to die and second to die means that in almost all cases for spouses with similar ages there is an actuarial advantage to start the lower benefit as soon as possible (age 62) to get as many payments as possible (even if they are smaller) and delay the larger benefit as long as poss...
by gerntz
Sat Oct 26, 2013 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: OK for lower earning spouse to take Social Security at 62?
Replies: 14
Views: 1514

Re: OK for lower earning spouse to take Social Security at 6

My wife and I are both age 66. She was (and is) the higher earner, by a tad. I claimed at 62; she filed for spousal at age 66; she is deferring until 70. All worked just "as advertised". Hint: We filed for her spousal in person, at a S/S office, since I suspected they might need marriage ...
by gerntz
Sat Oct 26, 2013 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: OK for lower earning spouse to take Social Security at 62?
Replies: 14
Views: 1514

Re: "Chip" credit card for foreign travel

^ Thanks.
by gerntz
Wed Sep 25, 2013 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Chip" credit card for foreign travel
Replies: 98
Views: 13617

ATM's

Anyone have a problem with Europe ATM's not accepting magnetic strip cards? Italy is my particular interest. Thanks.
by gerntz
Mon Sep 23, 2013 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Chip" credit card for foreign travel
Replies: 98
Views: 13617

Re: Quitting job and living tax free off dividends?

The problem with dividends is that they aren't guarenteed. Suppose AT&T and Verizon get into a price war; both of them start losing money and lower their dividends. Suppose Intel loses the low power microprocesser war to the ARM based designs and decides to conserve cash. A better idea might be...
by gerntz
Sun Sep 22, 2013 8:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Quitting job and living tax free off dividends?
Replies: 19
Views: 4449

Re: Poll: Did low-cost investing not work for you?

I don't know of anyone who does low cost investing and tracks it to the alternatives (High cost investing?) such that they know if they've done well or poorly.
by gerntz
Sun Sep 22, 2013 8:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Poll: Did low-cost investing not work for you?
Replies: 25
Views: 3582

Re: Social Security Question

so why do they call FRA at 66 and 10 months for me if it keeps going up till 70 ? Seems to FRA should be the age when it reaches max. Well, there are benefits at FRA such as taking a spousal benefit while your own benefit continues to grow to 70 that aren't available if you start collecting before ...
by gerntz
Sun Sep 22, 2013 8:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [Delaying benefits]
Replies: 18
Views: 1584
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