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Re: Foreign Bona-fide residency

I wouldn't even know in which state to apply for health insurance because I am not a resident of any state except that I still have a driver's license and address in Texas. I have even been worried about renewing my driver's license online when it comes up for renewal later this year. I would be in...
by kramer
Tue Apr 22, 2014 12:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Foreign Bona-fide residency
Replies: 11
Views: 681

Re: Foreign Bona-fide residency

MichaelB wrote: The most important part of establishing residency is your intent, which in this case is pretty clear. There are many ways to demonstrate that, but living in the same location abroad with a long term type visa while having no permanet base in the US is as solid as it gets. My experie...
by kramer
Mon Apr 21, 2014 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Foreign Bona-fide residency
Replies: 11
Views: 681

Re: Foreign Bona-fide residency

Well, keep in mind it's not 330 days per year but rather 330 days in any period of 12 months in a row... Yes I know that and I was trying to keep my initial description as short as possible. But again I just barely miss qualifying for this test, even given that it does not necessarily have to be a ...
by kramer
Mon Apr 21, 2014 10:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Foreign Bona-fide residency
Replies: 11
Views: 681

Foreign Bona-fide residency

I would like to solicit opinions on my situation in regards to foreign bona-fide residence as defined by the IRS. http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Earned-Income-Exclusion---Bona-Fide-Residence-Test I am retired, in my late 40's, and live abroad with no earned income. Th...
by kramer
Mon Apr 21, 2014 6:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Foreign Bona-fide residency
Replies: 11
Views: 681

Re: POLL: why carry cash?

I live in the Philippines and it is pretty much a cash only economy. Even the minority of places that take credit cards, like a hotel, typically offer an unadvertised cash discount or they charge an unadvertised premium for using a credit card. When I had an emergency at a hospital here I did take a...
by kramer
Sat Apr 19, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 224
Views: 7326

Re: Passport, TSA Pre-Check, and Global Entry

Thank you, Kramer. You mean that the clothes on the spare photos you carry should not be the same as on the passport photo--which makes sense. Initially, I thought that one physically should not wear the same clothes as on the passport photo. Victoria Yes, I was just talking about the clothes in th...
by kramer
Mon Apr 14, 2014 12:46 pm
 
Forum: Personal Consumer Issues
Topic: Passport, TSA Pre-Check, and Global Entry
Replies: 58
Views: 2560

Re: Alternative to a car

What we want is to find some viable alternatives to getting a new car, since we don't really trust her to drive. We purposely picked an area where there is ample public transportation in the even she had to give up her car, but now she claims that it's impossible to get by without a car because she...
by kramer
Mon Apr 14, 2014 12:43 pm
 
Forum: Personal Consumer Issues
Topic: Alternative to a car
Replies: 34
Views: 2225

Re: Passport, TSA Pre-Check, and Global Entry

Some photos are supposed to be taken within the last 6 months. So I make sure I am not wearing the same thing I was wearing for my passport photo (which can be exactly dated). Is the concern the age of the photo or the age of your clothes? If you are still wearing what you have on the photo, it mea...
by kramer
Mon Apr 14, 2014 12:04 pm
 
Forum: Personal Consumer Issues
Topic: Passport, TSA Pre-Check, and Global Entry
Replies: 58
Views: 2560

Re: Passport, TSA Pre-Check, and Global Entry

Does one need a separate photograph for Global Entry? Is it a passport photo? I'll be getting a passport photo for a new passport today and would like to know really soon if I should get the second one. I could not find any references to a photo on the CBP web site. Thank you, Victoria I always car...
by kramer
Sun Apr 13, 2014 1:35 pm
 
Forum: Personal Consumer Issues
Topic: Passport, TSA Pre-Check, and Global Entry
Replies: 58
Views: 2560

Re: 1040 address for foreign filer (unreliable mail)

Thanks for these useful replies and apologies for delay in responding. I continued to read more on this and evaluated your advice. I have decided to use my overseas address on my 1040 this year, even though this is not optimal from a mailing address point of view. I still find it bizarre that the IR...
by kramer
Sun Apr 13, 2014 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: 1040 address for foreign filer (unreliable mail)
Replies: 3
Views: 288

Re: Getting Passport without specific travel plans?

Write that you want to fly from Buffalo to Pittsburgh. Here is the TSA. Acceptable IDs include: U.S. passport U.S. passport card DHS "Trusted Traveler" cards (Global Entry, NEXUS, SENTRI, FAST) ... I actually lived for several years in the US with just a passport - renewed at the US embas...
by kramer
Fri Apr 11, 2014 11:36 pm
 
Forum: Personal Consumer Issues
Topic: Getting Passport without specific travel plans?
Replies: 29
Views: 1802

Re: 5 yr TIPs auction announced 4/10- any takers?

Doc's link was eye opening to me in that the quote for 5 year TIPs (-0.1%) differs so much from the link that I normally use: http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/ quote = -0.57% I assume that this has to do with slightly different maturity dates or something about the se...
by kramer
Fri Apr 11, 2014 11:06 am
 
Forum: Investing - Theory, News & General
Topic: 5 yr TIPs auction announced 4/10- any takers?
Replies: 36
Views: 3085

Re: Passport validity: Do I need at least 6 months?

Not even a close call -- get a new passport. And you can now get one with extra pages for same price, just click the box.
by kramer
Fri Apr 11, 2014 2:42 am
 
Forum: Personal Consumer Issues
Topic: Passport validity: Do I need at least 6 months?
Replies: 40
Views: 1542

Re: First Trip to India

India is in the process of extending a Visa on Arrival privilege to most nations (including the USA) and it is estimated that it will be implemented by October (at 9 major airports, including Dehli). You will be able to apply from home and receive an online confirmation within 5 working days. http:/...
by kramer
Tue Apr 08, 2014 12:33 pm
 
Forum: Personal Consumer Issues
Topic: First Trip to India
Replies: 47
Views: 3631

Re: Why Americans are Retiring Overseas

Yes, a puff piece with little information. I live abroad, and the vast majority of my expat friends did not move abroad for financial reasons. Several are much wealthier than me, and many of us could live pretty much anywhere on the planet if we wanted to, absent visa considerations. Also, I was str...
by kramer
Mon Apr 07, 2014 11:59 pm
 
Forum: Personal Consumer Issues
Topic: Why Americans are Retiring Overseas
Replies: 109
Views: 9046

1040 address for foreign filer (unreliable mail)

I am a US citizen but I live in and have residency in the Philippines. I am retired and have no earned income. I lived most of my life in the USA and regularly visit family and friends there at least once a year and all of my major financial accounts remain in the USA. Up until now, I have just used...
by kramer
Mon Apr 07, 2014 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: 1040 address for foreign filer (unreliable mail)
Replies: 3
Views: 288

Re: visitors to US insurance

As the previous poster suggested, they should investigate options sourced in their home country. I am a US citizen and resident of the Philippines. When I visit the US, I buy travel health insurance through World Nomads (worldnomads.com) Keep in mind that it does not cover pre-existing conditions an...
by kramer
Sun Apr 06, 2014 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: visitors to US insurance
Replies: 3
Views: 198

Re: How Many Properties Do You Own?

Zero: I have never directly owned property. And probably never will.
by kramer
Fri Apr 04, 2014 11:24 am
 
Forum: Investing - Theory, News & General
Topic: How Many Properties Do You Own?
Replies: 19
Views: 2165

Re: Can Foreign Medical Expenses be deducted?

nirvana wrote:Thanks Kramer. I saw a few links on google and on a turbotax forum as well but wasn't very sure as this was not clearly defined in the IRS Publication.
I agree. Basically, they never restrict it to the USA in the rules but the answer is not obvious if you are reading just the publication.
by kramer
Wed Mar 26, 2014 7:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Can Foreign Medical Expenses be deducted?
Replies: 5
Views: 333

Re: Can Foreign Medical Expenses be deducted?

I just googled -- medical expense deduction foreign country -- and get a bunch of links saying that, yes, foreign medical expenses are generally deductible in the same way that domestic medical expenses are deductible. As long as it is a legal operation and not unnecessary cosmetic surgery. It is po...
by kramer
Wed Mar 26, 2014 3:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Can Foreign Medical Expenses be deducted?
Replies: 5
Views: 333

Re: 25 year old speeding ticket

One word: Laches. Yes! Excellent post. http://en.wikipedia.org/wiki/Laches_(equity) an "unreasonable delay pursuing a right or claim...in a way that prejudices the [opposing] party" [1] When asserted in litigation, it is an equitable defense, or doctrine. The person invoking laches is ass...
by kramer
Fri Mar 21, 2014 12:52 pm
 
Forum: Personal Consumer Issues
Topic: 25 year old speeding ticket
Replies: 23
Views: 2375

Re: HSA - Fee avoidance or Optimize investing?

I am treating my HSA money at HSA Bank as a long term investment account and do not intend to access the money for a long time.

I put all the money in the investment account and pay the fees rather than lose returns to the low returning savings account they offer.
by kramer
Tue Mar 18, 2014 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA - Fee avoidance or Optimize investing?
Replies: 10
Views: 885

Re: $175k student loan is paid off!

DrPeppaPig wrote:I just made the final payment and it feels great!

:beer :beer :beer

That's great! It must be a good feeling :happy

Paying off my school loans in full was one of the biggest financial moments of my life and I remember it well.
by kramer
Fri Mar 14, 2014 10:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: $175k student loan is paid off!
Replies: 21
Views: 1771

Re: Cousin's Wedding

What is a wedding shower??

I have never heard of that.
by kramer
Fri Mar 14, 2014 7:46 am
 
Forum: Personal Consumer Issues
Topic: Cousin's Wedding
Replies: 53
Views: 3590

Re: Low-flow shower head: $4,500 saved in last 5 yrs

$4500 would pay 100% of my gas/electric/water for about 10 years. And I have a hot shower with high flow.
by kramer
Wed Mar 12, 2014 1:44 pm
 
Forum: Personal Consumer Issues
Topic: Low-flow shower head: $4,500 saved in last 5 yrs
Replies: 35
Views: 4211

Re: Tipping for a haircut at Great Clips

Here in the Philippines I pay $3 (in local currency) for a haircut at a more upscale place. The going rate at a regular hair cut place is probably about $1.50. Getting a haircut is one of the things that is cheaper here, many other things are more expensive than the States. My average tip is about 8...
by kramer
Tue Mar 11, 2014 2:07 am
 
Forum: Personal Consumer Issues
Topic: Tipping for a haircut at Great Clips
Replies: 56
Views: 3966

Re: New York TImes/WSJ

I pay for the NY Times online subscription ($20/month). It is basically the premier written English language news source on the planet with well researched stories. I don't like what is in in my opinion a liberal reporting bias. But I read news from many sources and many perspectives. Re: paper vers...
by kramer
Sun Mar 09, 2014 10:48 am
 
Forum: Personal Consumer Issues
Topic: New York TImes/WSJ [paper vs. online subscriptions]
Replies: 40
Views: 2124

Re: Retirees: About your retirement

Financial Independence AND Retirement were definitely goals for me and it came faster than I could have imagined (age 41). Even when I liked my job, which was very demanding, I had retirement in mind. I specifically remember concluding that my ideal work-life balance at the time would be 7 months pe...
by kramer
Fri Mar 07, 2014 11:32 pm
 
Forum: Investing - Theory, News & General
Topic: Retirees: About your retirement
Replies: 55
Views: 5496

Re: Do we have enough to retire?

For someone born in mid to late 1950s, earning 30 years at max social security, earnings taking place from 1984 to 1913, all zeros in other years, gets you at least $2529/month at age 70. So that is probably $72K per year for this couple. . . quite a bit more than the $50K estimates I saw earlier in...
by kramer
Thu Feb 27, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Do we have enough to retire?
Replies: 106
Views: 11986

Re: Met a guy at an HFT firm - keeps all his money in cash!?

I know nothing about HFT, but traders in general need cash as collateral, and their ability to stay in the game following a large setback depends on how much cash they had, so it seems possible to me that he regards his personal cash as an emergency reserve he can put into the business during a cri...
by kramer
Fri Feb 07, 2014 7:29 am
 
Forum: Investing - Theory, News & General
Topic: Met a guy at an HFT firm - keeps all his money in cash!?
Replies: 26
Views: 2744

Re: Reporter looking for retiree withdrawing prior to RMD

I am retired, in my late 40's, and plan to start doing T-IRA to ROTH conversions this year, but only up to the top of the 10% bracket. Every dollar I use up for this is a dollar taken away from 0% Cap Gains. During my retirement up until now, I have purposely taken Cap Gains up to the top of the 15%...
by kramer
Thu Feb 06, 2014 4:10 am
 
Forum: Investing - Theory, News & General
Topic: Reporter looking for retiree withdrawing prior to RMD
Replies: 16
Views: 1419

Re: Keeping track of expenses, early retirement?

My lifestyle was going to totally change in early retirement, so I had to make estimates -- I could not count on my current spending while working to be indicative of the future. I tried to plan for a worst case spending scenario and was very conservative in my estimates. In retrospect, my planning ...
by kramer
Sun Feb 02, 2014 2:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Keeping track of expenses, early retirement?
Replies: 32
Views: 3535

Re: What is the best foreign non hedged bond fund?

What is the best foreign non hedged bond fund? That would be the one with the lowest expense ratio, right? For developed markets, I think it is IGOV at 0.35%. For emerging markets, I think EMLC at 0.47%. I live abroad (like bpp) and I have always wanted to diversify a bit in bonds country-wise inst...
by kramer
Sat Feb 01, 2014 10:56 am
 
Forum: Investing - Help with Personal Investments
Topic: What is the best foreign non hedged bond fund?
Replies: 10
Views: 705

Re: Snow Bird Question [State Residency Requirements]

Some steps I took to erase my California presence, even though I was going back regularly for visits to family there. * Got Driver's License in Other state (and they require you to turn in your old license) * Changed all snail mail to Other state address * Changed mailing address of all financial in...
by kramer
Sat Feb 01, 2014 10:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Snow Bird Question [State Residency Requirements]
Replies: 39
Views: 2512

Re: Dealing with sizable capital gains living in NYC

I had a similar situation with smaller dollar figures when I became Bogle-ized. I decided to just keep my individual stocks after selling the losers and the ones close to break-even. Like you, I realized that soon those remaining individual stock holdings would become just a small percentage of my o...
by kramer
Fri Jan 31, 2014 11:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Dealing with sizable capital gains living in NYC
Replies: 4
Views: 515

Re: Keeping internet provider without price hikes

I just noticed that my "promotional" discount for my free-multi-room DVR and HD settop box is going away this month. That saved me ~$30/month. i have already downgraded by cable channels to "basic" but i prefer to have better-than-average internet speed (75/35 Mbps) due to multi...
by kramer
Fri Jan 31, 2014 11:08 pm
 
Forum: Personal Consumer Issues
Topic: Keeping internet provider without price hikes
Replies: 53
Views: 3934

Re: Expatriation or International Snowbirding

How do people deal with mail while on extended travel? A friend just returned from an extended trip to learn that his mail had been returned to sender with a notation that he had moved with no forwarding address provided. One of the utility companies was kind enough to call him and tell him that th...
by kramer
Thu Jan 30, 2014 11:08 am
 
Forum: Personal Consumer Issues
Topic: Expatriation or International Snowbirding
Replies: 40
Views: 3305

Re: Defer I-bonds taxes and impact on taxation of SS benefit

So can I report Interest in Year20 (for Years 1-20), then Year26 (for years 21-26) and finally Year30 (for years 27-30)? If so, that makes it much easier. I thought it was either every year or all in Year30. While it is technically possible to switch back after you have switched, I don't know if th...
by kramer
Wed Jan 29, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Defer I-bonds taxes and impact on taxation of SS benefits?
Replies: 5
Views: 451

Re: Expatriation or International Snowbirding

I did this for several years. Nowadays, I have a home base in the Philippines and I travel a lot. I will share a few observations. I only found places that I wanted to live in by traveling there first (and typically throughout the target country). For instance, on an 8 week trip through Colombia I r...
by kramer
Tue Jan 28, 2014 1:33 am
 
Forum: Personal Consumer Issues
Topic: Expatriation or International Snowbirding
Replies: 40
Views: 3305

Re: Deep risk, taxable Ted, and the long-term investor

It might depend on the particular numbers and level of wealth. Just to take a typical example, say a retiree has $3 million of assets and it is a 75% taxable and 25% tax deferred Taxable Ted type early retired individual. And he is shooting for a 60/40 mix and the 60% in equities is mostly value-ori...
by kramer
Wed Jan 22, 2014 11:09 am
 
Forum: Investing - Theory, News & General
Topic: Deep risk, taxable Ted, and the long-term investor
Replies: 30
Views: 2644

Re: Free Food

Ah yes, free food, one of those things I miss about living in America . . . :happy

Well, I am a food judge at a contest that is part of a charity event this weekend . . . so that will be some good free food . . . I hope
by kramer
Wed Jan 22, 2014 6:35 am
 
Forum: Personal Consumer Issues
Topic: Free Food
Replies: 21
Views: 2433

Re: Deep risk, taxable Ted, and the long-term investor

With low to no taxes on qualified dividends, value funds are generally tax friendly not tax costly. If Ted is early retired and married and his taxable account is mostly equities, he can make about $100,000 in income per year and pay no taxes under the current tax code. He can use his entire tax def...
by kramer
Wed Jan 22, 2014 2:14 am
 
Forum: Investing - Theory, News & General
Topic: Deep risk, taxable Ted, and the long-term investor
Replies: 30
Views: 2644

Re: Making $175k/year. What do I do with it all?

While it's not fun to pay taxes, you (usually) pay taxes when you are making money. If you are really really set on paying as little tax as possible, consider investing in rental real estate. It allows for depreciation on the unit which reduces your tax. Years on if you sell to reinvest, you can 10...
by kramer
Sat Jan 18, 2014 11:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Making $175k/year. What do I do with it all?
Replies: 39
Views: 6254

Re: Making $175k/year. What do I do with it all?

It's up to you. I was in a similar situation and decided to focus on retiring early and did it in about 10 years. I thought about starting my own business, and that was my original goal, but I decided that I was making too much money for that to make sense for me -- I had no desire to be Mega-Rich. ...
by kramer
Fri Jan 17, 2014 1:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Making $175k/year. What do I do with it all?
Replies: 39
Views: 6254

Re: Vietnam visa requirement

My information is dated by about 5 years. I got my Vietnam visa by mail to the San Francisco consulate. It was a 30 day visa, but you had to choose the exact enter date at the time of application (!). I knew I would be coming from China, but I didn't know when exactly so I just had to put down the e...
by kramer
Tue Jan 14, 2014 10:33 am
 
Forum: Personal Consumer Issues
Topic: Vietnam visa requirement
Replies: 13
Views: 874

Re: Paying penalty for not taking inherited IRA dist.

Thanks for the great advice and I do feel like I have a much better handle on this now. I had my mom pay the 2013 estimated taxes to the Feds and California just for the income tax amount on cashing in the full IRA in 2013. Along with a 2013 federal income tax extension. I won't be in the USA until ...
by kramer
Tue Jan 14, 2014 12:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Paying penalty for not taking inherited IRA dist.
Replies: 12
Views: 1217

Re: Paying penalty for not taking inherited IRA dist.

Why would she have a penalty if the estate did not complete transfer of the account to her? It's not clear to me how probate or the estate were closed without that happening, but some states have small estate rules that are different and let things like this slip through. The IRA was just ignored a...
by kramer
Mon Jan 13, 2014 12:16 am
 
Forum: Investing - Help with Personal Investments
Topic: Paying penalty for not taking inherited IRA dist.
Replies: 12
Views: 1217

Re: Paying penalty for not taking inherited IRA dist.

Yes, I am leaning toward the approach of just paying her 2013 estimated income taxes to the IRS and the state before January 15 of this year. and not worrying about the penalties for now. This would also make tax preparation much easier (I do all of her taxes). And then we would never mention the po...
by kramer
Sun Jan 12, 2014 10:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Paying penalty for not taking inherited IRA dist.
Replies: 12
Views: 1217

Re: Paying penalty for not taking inherited IRA dist.

You can try asking for a waiver -- but what exactly is the "good cause" other than record keeping (for part of the time)? You will need to explain why you think you deserve a waiver but I'd give it a try. We missed one due to some miscommunication with VG (partly our fault) and they waive...
by kramer
Sun Jan 12, 2014 1:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Paying penalty for not taking inherited IRA dist.
Replies: 12
Views: 1217

Paying penalty for not taking inherited IRA dist.

My mom inherited an IRA from her brother when he died unexpectedly in 2004 at the age of 51. She never took a distribution until the year 2013 when she cashed the whole thing in. The sums involved are not large, something like $11,000 (the fact that the amount is small may affect the right answer he...
by kramer
Sun Jan 12, 2014 1:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Paying penalty for not taking inherited IRA dist.
Replies: 12
Views: 1217
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