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by plannerman
Wed May 20, 2015 5:19 am
Forum: Personal Finance (Not Investing)
Topic: How do Bogleheads (in general) plan to finance their healthcare for later life?
Replies: 34
Views: 3455

Re: How do Bogleheads (in general) plan to finance their healthcare for later life?

What we are doing, and I'm surprised that someone else hasn't mentioned it, is moving to a Continuing Care Retirement Community (CCRC) at a relatively young age--74, if everything goes according to plan. Every CCRC is different, but in general, at least one of a couple needs to be able to walk in an...
by plannerman
Tue Apr 28, 2015 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Getting a Car Loan through Dealer: Lump sum pre-payment?
Replies: 6
Views: 700

Re: Getting a Car Loan through Dealer: Lump sum pre-payment?

You really need to read the contract. Both Nissan and Lexus sales people told me I had to wait 90 days and 120 days respectively before paying off their loans. I read the contracts and there was no such provision in either. I paid off the Nissan loan in about a week, and saved most of the $500incent...
by plannerman
Tue Apr 21, 2015 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you pay in Property Taxes?
Replies: 188
Views: 10978

Re: How much do you pay in Property Taxes?

I'm not going to post my numbers because the last thing we need down here are more yankees telling us how they used to do things up north.

plannerman
by plannerman
Tue Apr 21, 2015 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning - what details does the attorney need?
Replies: 13
Views: 1409

Re: Estate Planning - what details does the attorney need?

Part of settling any estate is collecting and distributing the assets. Having the account numbers, and SSNs of your beneficiaries, has to help in this process. So I suspect the attorney is just looking ahead. If you don't feel comfortable providing this information to your current attorney, maybe yo...
by plannerman
Fri Apr 17, 2015 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Becoming Trustee. Do they need my income and net worth?
Replies: 32
Views: 2813

Re: Becoming Trustee. Do they need my income and net worth?

A trust was created in my (still living) grandmother's name (I don't know what type; revocable, irrevocable, etc.), for which my father and aunt were trustees. My father died about a year ago and I figured I should become trustee in his place. The paperwork they sent me includes a "Client Prof...
by plannerman
Thu Apr 16, 2015 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming Trustee. Do they need my income and net worth?
Replies: 32
Views: 2813

Re: Becoming Trustee. Do they need my income and net worth?

Sounds to me like the OP is a remainderman, not the primary beneficiary. I'm not so sure that a remainderperson is entitle to a copy of the trust or an accounting.

plannerman
by plannerman
Mon Apr 06, 2015 4:12 am
Forum: Personal Finance (Not Investing)
Topic: Is CitiBank a Good Company to Do Business With?
Replies: 12
Views: 1219

Re: Is CitiBank a Good Company to Do Business With?

The only relationship I have with Citi is through multiple credit cards and I've never had a problem. I love their Virtual Account Number feature and use it for every online purchase. I make purchases, pay the bill when due, it works. +1 In addition, in terms of answering the phone, handling disput...
by plannerman
Sat Mar 28, 2015 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need some help please with Estate question
Replies: 23
Views: 2451

Re: Need some help please with Estate question

I don't know if this is at all helpful, but the other day I downloaded a blank State of NC form "Application for Probate and Letters 1)Testamentary or 2) Of Administration CTA. What surprised me when I read the form, and why I think it could be somewhat relevant to your situation is the followi...
by plannerman
Fri Mar 27, 2015 10:57 am
Forum: Personal Consumer Issues
Topic: Car buying services - recommendations?
Replies: 14
Views: 2237

Re: Car buying services - recommendations?

I think to some extent it matters what model car you are buying and where you are buying it. We just bought a new Lexus. The nearest dealer is 30-miles away and did not accept the Costco deal. The next nearest dealer is 100-miles away and did accept Costco. We opted for Truecar, which the nearest de...
by plannerman
Fri Mar 27, 2015 6:30 am
Forum: Personal Finance (Not Investing)
Topic: Do I need an ILIT for a current estate value of 2M in WA?
Replies: 9
Views: 1009

Re: Do I need an ILIT for a current estate value of 2M in WA

... and the loss of control over the policy if you give it away. Bruce, What's the loss of control issue here? Is it the concern that the trustee of the ILIT will change the beneficiaries of the policy, the policy holder won't be able to borrow against the policy or something else? Just curious. pl...
by plannerman
Sat Mar 21, 2015 6:01 am
Forum: Personal Finance (Not Investing)
Topic: To MBA or Not to MBA
Replies: 37
Views: 4709

Re: To MBA or Not to MBA

MSME here. After 10+ years as a design engineer with mega corp, I was doing many of the same tasks over and over. I transferred to headquarters, still in a technical job, for a change in scenery as much as anything else. Once there, I liked the big-picture aspects of the headquarters job but lacked ...
by plannerman
Thu Mar 19, 2015 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: [Poll] Do you have an auto loan?
Replies: 72
Views: 4852

Re: Do you have and auto loan?

Two years ago the dealer gave me an additional $500 off the purchase price if I financed the car. He claimed he got the money back from the automaker's finance arm. He told me I had to keep the loan for at least three months. I read the contract and there was no such requirement for keeping the loan...
by plannerman
Thu Mar 19, 2015 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Trust 1041 return using TaxACT
Replies: 5
Views: 400

Re: Trust 1041 return using TaxACT

Well I was wrong about using TaxAct. I was using H&RBlock Business.
Sorry.

plannerman
by plannerman
Thu Mar 19, 2015 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 242
Views: 25900

Re: Kotlikoff: When Should you Take Social Security?

I enjoy all the behavioral explanations but think many are too clever by half. Outside of the professional class, and sometimes even within it, the average American worker lives nearly paycheck to paycheck, has little cash on hand, and has at most a 5 figure retirement account. They claim at 62 bec...
by plannerman
Thu Mar 19, 2015 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Trust 1041 return using TaxACT
Replies: 5
Views: 400

Re: Trust 1041 return using TaxACT

Well I had the same situation and was able to make TaxAct work. I'm sorry, I can't tell you off the top of my head specifically what I did. I'll look at the program later this afternoon to see if I can figure it out. I changed from TurboTax to TaxAct this year to save a few bucks and was sorry I did...
by plannerman
Thu Mar 19, 2015 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Trust 1041 return using TaxACT
Replies: 5
Views: 400

Re: Trust 1041 return using TaxACT

Did you select simple or complex trust? If you selected simple, then I believe it forces all income to be distributed.

plannerman
by plannerman
Fri Mar 13, 2015 7:39 am
Forum: Personal Consumer Issues
Topic: Automobile protectants
Replies: 15
Views: 1046

Automobile protectants

I just bought a new automobile—something I don’t do very often. I got a hard-sell from the financial manager for a long list of add-ons that totaled up to several thousand dollars. None of which I bought, btw. (But if we ever lose one of our $600 key fobs, I will never hear the end of declining the ...
by plannerman
Thu Mar 12, 2015 5:37 am
Forum: Personal Finance (Not Investing)
Topic: Why not use inflation-adjusted SPIA?
Replies: 117
Views: 5358

Re: Why not use inflation-adjusted SPIA?

... and on the other hand you run the risk of having a huge amount of money leftover that doesn't do you any good. If your balance doubles, you're not doubling what you're paying yourself. You're just giving yourself the COLA that you planned on. So anything above that you can't touch...." You...
by plannerman
Wed Mar 11, 2015 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Why not use inflation-adjusted SPIA?
Replies: 117
Views: 5358

Re: Why not use inflation-adjusted SPIA?

Well after a 6 year fabulous bull market OF course. Its easy to pick the winner after the race is run True, but since the cash flow from an inflation adjusted joint annuity is about the same as the SWR from a well diversified portfolio. The only way I could be worse off is if the sequence of portfo...
by plannerman
Wed Mar 11, 2015 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Why not use inflation-adjusted SPIA?
Replies: 117
Views: 5358

Re: Why not use inflation-adjusted SPIA?

It is a reasonable option. If you want a SPIA that is joint between two of you, it is quite a bit more expensive. Also if you want to start it at an earlier age. And, of course, they remove the potential for leaving an inheritance. So it works quite well for a single with no heirs. I agree with thi...
by plannerman
Fri Mar 06, 2015 8:51 am
Forum: Personal Consumer Issues
Topic: How do you decide when to buy car?
Replies: 50
Views: 3674

Re: How do you decide when to buy car?

I'll give you my wife's reasons for buying a new Lexus, notwithstanding her 2004 RX330 with 110,000 miles on it, is probably the best car we have ever owned. 1) I'm 72 years old 2) This is probably the last new car I will ever buy 3) We won't miss the money 4) Our granddaughter just received an inte...
by plannerman
Sun Mar 01, 2015 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 37
Views: 2779

Re: Legal Fees for Trusts and Wills

Most states have standard forms for health care directives and durable powers of attorney that you can download off the internet. You really don't need the pay an attorney to draft them.

plannerman
by plannerman
Fri Feb 27, 2015 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 3256

Re: Old car insurance

Great thread. So for those of you who have canceled early, how much do you think you've saved? I have an '06 with 115k miles, and perhaps I should be thinking the same. That's very tough question to answer, My wife and I have both been driving for 56 years and never personally had a collision claim...
by plannerman
Fri Feb 27, 2015 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard brokerage tax forms changed to late Feb. question
Replies: 95
Views: 8424

Re: Vanguard brokerage tax forms changed to late Feb. questi

Same here. When I looked at the available tax documents, I found the 1099 B had been replaced by the "Consolidated Form 1099 ". I think that is the download problem.

plannerman
by plannerman
Wed Feb 25, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 473

Re: Form 1116 country of origin

OK, so live chat did not work with H&R Block. Do they do e-mail support? I've been trying to get an answer to a simple question from Fidelity for a couple of weeks now through their various customer support channels. So far, no luck on my part, but I will keep trying. Oh, and this forum didn't ...
by plannerman
Wed Feb 25, 2015 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 473

Re: Form 1116 country of origin

Easy Rhino wrote:I think the correct answer is RIC, although I don't know the block software specifically.

Any chance you don't need to fill out the 1116 at all? If it's dividends below a certain amount, you can skip it.



I wish, but I'm doing a 1041 for a trust and you do not have the option to skip.

plannerman
by plannerman
Wed Feb 25, 2015 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 473

Re: Form 1116 country of origin

No you can't just type it in. I read in this article that H&R Block has customer support. Have you contacted them? Or are you afraid that they are some fly-by-night company and will give you a bogus answer? Or perhaps you stole the software and do not want to check with customer support? Serious...
by plannerman
Wed Feb 25, 2015 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Brokerage 1099 Available
Replies: 44
Views: 3602

Re: Vanguard Brokerage 1099 Available

scotthal wrote:Mine showed up mid-day today (the 24th), but TurboTax refuses to import it until the 27th



Me three
by plannerman
Wed Feb 25, 2015 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Form 1116 country of origin
Replies: 11
Views: 473

Form 1116 country of origin

I can't be the only one with this issue, but I have been unable to pry an answer out of H&R Block. I'm hoping someone here has broken the code on this. I have a few mutual funds with foreign income and taxes withheld. H&R Block's Business tax program is asking me to enter the country of orig...
by plannerman
Sat Feb 21, 2015 12:29 pm
Forum: Investing - Theory, News & General
Topic: Scott Burns on Factor investing
Replies: 5
Views: 995

Re: Scott Burns on Factor investing

Nicely written article but I noticed he didn't tell us which of the factors were important and which ones we should ignore.

plannerman
by plannerman
Sat Feb 21, 2015 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Help with Fed Retirement, North Carolina, and Bailey
Replies: 25
Views: 1111

Re: Help with Fed Retirement, North Carolina, and Bailey

Here's one definition of Credible Service--have at it:) https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c020.pdf Also, I'm not sure of this, but I think if you were not covered by the Bailey settlement then you cannot claim the $4,000 government retirement deduction plan...
by plannerman
Sat Feb 21, 2015 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 3256

Re: Old car insurance

I have had limited experience with collision insurance claims. The one incident I did have the car was totaled and the insurance company paid me way less than I thought it was worth. My guess is for a 9-year old Tundra, after the $1000 deductible, you might get at best a few thousand dollars--and I ...
by plannerman
Sun Feb 15, 2015 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Did you overestimate your retirement spending?
Replies: 17
Views: 2393

Re: Did you overestimate your retirement spending?

No.

We have been retired for 16 years and are now spending at least twice as much in real terms as I had planned on.

plannerman
by plannerman
Thu Jan 29, 2015 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard RMD Service
Replies: 14
Views: 1916

Re: Vanguard RMD Service

Vanguard actually made an error in calculating DW's RMD last year, so you can't take anything for granted. Interesting since the calculation is quite simple. Was there some thing about your situation that made it prone to an error? You are right, this is a simple calculation, and I was astonished t...
by plannerman
Mon Jan 26, 2015 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard RMD Service
Replies: 14
Views: 1916

Re: Vanguard RMD Service

Vanguard actually made an error in calculating DW's RMD last year, so you can't take anything for granted.

Steve
by plannerman
Tue Dec 30, 2014 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Would You Trust This Webpage?
Replies: 22
Views: 2327

Re: Would You Trust This Webpage?

When you click on the "Apply" button to go to the page where you actually fill in the application does it come up as secure?

plannerman
by plannerman
Sun Dec 28, 2014 10:14 am
Forum: Personal Finance (Not Investing)
Topic: retirement spending covered by SS
Replies: 34
Views: 2539

Re: retirement spending covered by SS

These numbers are not constant. When we retired we didn't have social security. At age 62 dw started collecting. I started collecting at age 70. When we retired 16 years ago, my company pension was about 50% of our income needs. Today, that pension covers about 25% of our income needs and SS about 2...
by plannerman
Wed Dec 24, 2014 11:18 am
Forum: Investing - Theory, News & General
Topic: Have you ever hoped for a correction?
Replies: 52
Views: 3758

Re: Have you ever hoped for a correction?

I'm hoping for a correction next week. My "uncontrollable" 2015 income from SS, pension and RMDs is on the cusp of going over the next Medicare Part B premium breakpoint. Just a few bucks more in RMDs next year could cost me $125/month in increased premiums. I guess there are worse problem...
by plannerman
Tue Dec 16, 2014 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Distributions from a trust & taxes
Replies: 1
Views: 417

Re: Distributions from a trust & taxes

Trustees have the option to make distributions from trusts for 65 days after December 31 and include that income on the K1 for the previous year. That does not mean they have to. If the trustee includes the income on the 2014 K1, then the beneficiary would include it in his or her income in 2014. pl...
by plannerman
Tue Dec 16, 2014 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard and Turbo Tax
Replies: 38
Views: 5408

Re: Vanguard and Turbo Tax

For the desktop version
Login to your Vanguard account.
Click on the "TurboTax" link
Do not sign in to your TurboTax account.
Scroll down and click on the "Download" link
The correct price will come up
by plannerman
Wed Dec 10, 2014 11:38 am
Forum: Investing - Theory, News & General
Topic: Poll: Dividend income to match annual salary?
Replies: 39
Views: 3964

Re: Poll: Dividend income to match annual salary?

I have no idea what my income from dividends is.

plannerman
by plannerman
Thu Dec 04, 2014 3:17 pm
Forum: Investing - Theory, News & General
Topic: What % of your fixed-income is TIPs?
Replies: 71
Views: 3775

Re: What % of your fixed-income is TIPs?

About 75% of my fixed income is in TIPs. I'm 15 years into retirement and maintain a rolling 10-year TIPs ladder for expected retirement cash flow needs. I forecast my expected future annual cash needs, subtract my other sources of retirement cash flow (SS, company pension) and then purchase individ...
by plannerman
Wed Nov 26, 2014 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Question about taking Required Minimum Distribution from IRA
Replies: 18
Views: 1937

Re: Question about taking Required Minimum Distribution from

Have you considered taking your IRA RMD "in kind"? You would simply transfer a TIP security that satisfied the RMD from your IRA to a taxable brokerage account--you don't have to sell it. Some people don't like TIPs in taxable accounts, but give the interest rates on most TIPs these days, ...
by plannerman
Tue Nov 25, 2014 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Certified Financial Planning Certificate
Replies: 5
Views: 955

Re: Advice on Certified Financial Planning Certificate

If all you want to do is pass the certification test, I think online courses would work fine. If you want to learn about personal finance as well as pass the test, I would recommend finding a class. Maybe I was just lucky, but I learned a lot more about personal finances from my classmates than I di...
by plannerman
Wed Nov 19, 2014 9:19 am
Forum: Personal Finance (Not Investing)
Topic: What financial tools/software do you use?
Replies: 35
Views: 2885

Re: What financial tools/software do you use?

I use very comprehensive cash flow software program called Golden Years from Moneytree software.

plannerman
by plannerman
Tue Nov 18, 2014 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Low cost trust or equivalent?
Replies: 8
Views: 2073

Re: Low cost trust or equivalent?

There could be other "cost frictions" as well. One might be the cost of preparing the federal 1041 trust income tax form and the respective state form. Another could be the higher income tax rates for trusts if all the income is not distributed to the beneficiaries.

planneman
by plannerman
Tue Oct 28, 2014 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 2804

Re: Traditional Medicare vs Medicare Advantage

Everyone of these Medicare vs Medicare Advantage Plans discussion is fraught with incomplete information, anecdotal information, misinformation and just plain wrong information. There is no such thing as a Medicare Advantage Plan. There are several maybe even hundreds of Medicare Advantage Plans. Th...
by plannerman
Tue Oct 28, 2014 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: POLL: Gross Annual Retirement Income Before Taxes
Replies: 25
Views: 2191

Re: POLL: Gross Annual Retirement Income Before Taxes

My response included RMDs, which are income, but we don't necessarily spend all of the proceeds.

plannerman
by plannerman
Mon Oct 27, 2014 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2154

Re: Vanguard, TIPs, Accrued Interest & RMDs

Thanks Alan, I am still waiting, somewhat impatiently, for Vanguard's response. I will post it if and when I get it. I really doubt they made an error in reporting the balance without accrued interest, but as I said before, I have been unsuccessful find anything that authorizes it. The thing that se...
by plannerman
Sun Oct 26, 2014 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 2154

Re: Vanguard, TIPs, Accrued Interest & RMDs

Vanguard computes my RMD amount for me. They computed my wife's for her and it was incorrect--that's what started this discussion. plannerman OK, I'll bite. Are you saying that Mrs. Plannerman's RMD was understated by the amount of accrued interest on TIPs held in her IRA? Christine, Actually no. V...

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