Search found 509 matches

by 2beachcombers
Sun May 29, 2016 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

I might have missed it but one thing that I have not seen mentioned is that is is possible to buy a home with a reverse mortgage so that other than a largish down payment then she would not have any ongoing mortgage payments. There are lots of pros and cons but reverse mortgages were revised about ...
by 2beachcombers
Sun May 29, 2016 7:34 am
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Even though you have an attorney in the family, it may be worth it to spend an hour with an Eldercare Attorney. While $100,000 a year may be enough for nursing facility now, it might not in 10 years. If her spending habits lean towards "the nicer things" as you suggest, nursing care (faci...
by 2beachcombers
Sat May 28, 2016 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Potential Sibling negative - Mom stops paying rent, sibling can't cover the mortgage payment and can't (won't) evict Mom That may happen but the siblings can cover the mortgage--actually I would recommend they sell the house and take a great vacation with the proceeds. Thanks Mom for the vacation w...
by 2beachcombers
Sat May 28, 2016 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Very much appreciate all the input--a few more thoughts: :sharebeer Please critique our current thoughts on Gifting the down payment. And any ideas to guarantee the rental $$(for example taking the $$ out before Auntie gets it.) Positives: Aunt:(I feel she will think this a good idea and will jump a...
by 2beachcombers
Fri May 27, 2016 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Is the buy/rent arrangement okay with your aunt? Is the daughter doing this just for her? I believe the Aunt will jump at the offering. This way she has the most spending money. I have already documented her situation to her for both rent and buy cases. She has one SPIA and I would add another for ...
by 2beachcombers
Fri May 27, 2016 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Pluses and minuses please. I can't think of any long term pluses. Are you and your wife protected from filial support laws in your state? Filial---I am not her child. There are no issues here, we are a very successful adults and will take care of our loved ones. And if push comes to shove, I would ...
by 2beachcombers
Thu May 26, 2016 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

If she buys another home, her income will not match her habits of continuous adding projects and shopping. Rentals are problematic as she is in NJ and has 2 dogs which are her prime company. She is spoiled, never budgeted and just gets what she wants. If she is selling a "small farm", the...
by 2beachcombers
Thu May 26, 2016 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Is the buy/rent arrangement okay with your aunt? Is the daughter doing this just for her? I believe the Aunt will jump at the offering. This way she has the most spending money. I have already documented her situation to her for both rent and buy cases. She has one SPIA and I would add another for ...
by 2beachcombers
Thu May 26, 2016 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

What is the aunt's bias on the farm? If it is very big at all it may not qualify as a primary residence and may not be exempt from long term capital gains taxes (federal and state)? Small farm 500k. We are OK thanks for the heads up jerry Dollar amount is not the only requirement. There have been i...
by 2beachcombers
Thu May 26, 2016 8:47 am
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

mnnice wrote:What is the aunt's bias on the farm? If it is very big at all it may not qualify as a primary residence and may not be exempt from long term capital gains taxes (federal and state)?



Small farm 500k. We are OK
thanks for the heads up
jerry
by 2beachcombers
Thu May 26, 2016 8:46 am
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

If she buys another home, her income will not match her habits of continuous adding projects and shopping. Rentals are problematic as she is in NJ and has 2 dogs which are her prime company. She is spoiled, never budgeted and just gets what she wants. If she is selling a "small farm", the...
by 2beachcombers
Wed May 25, 2016 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Stay out of it. Probably the best advice yet. Problem is both sides are begging me to help and are very, very appreciative. For several years now it seems to be working well. They asked me for help, and they know i am a VOLUNTEER--and have told both sides, when they do not take my advice, I am gone...
by 2beachcombers
Wed May 25, 2016 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Pluses and minuses please. I can't think of any long term pluses. Are you and your wife protected from filial support laws in your state? Filial---I am not her child. There are no issues here, we are a very successful adults and will take care of our loved ones. And if push comes to shove, I would ...
by 2beachcombers
Wed May 25, 2016 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

Re: 84 Year Old Aunt selling small farm

Is the buy/rent arrangement okay with your aunt? Is the daughter doing this just for her? I believe the Aunt will jump at the offering. This way she has the most spending money. I have already documented her situation to her for both rent and buy cases. She has one SPIA and I would add another for ...
by 2beachcombers
Wed May 25, 2016 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2387

84 Year Old Aunt selling small farm

She is in a stiuation where she basically has a choice of renting a place or buying a smaller home. If she buys another home, her income will not match her habits of continuous adding projects and shopping. Rentals are problematic as she is in NJ and has 2 dogs which are her prime company. She is sp...
by 2beachcombers
Tue May 17, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA choice of beneficiary - always first to one's spouse?
Replies: 16
Views: 1427

Re: Roth IRA choice of beneficiary - always first to one's spouse?

A good article for your question:
https://www.fidelity.com/insights/retir ... a-windfall

and is my plan: Roll over my Roth to her Roth. She allocates 80% to children, 20% to grandchildren.

jerry :happy
by 2beachcombers
Sat Apr 30, 2016 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Want a new vehicle, but can't "justify" spending?
Replies: 36
Views: 3902

Re: Want a new vehicle, but can't "justify" spending?

I would give away the car to your niece, nephew, neighbor or whoever. They probably would appreciate it, and you can then buy yourself a new vehicle without all the associated guilt of a rich cheapskate :moneybag +1--I just gave my son the wifes car and bought her a new one--love the new safety fea...
by 2beachcombers
Thu Apr 28, 2016 7:32 am
Forum: Personal Finance (Not Investing)
Topic: IRA & 401 in same yr
Replies: 9
Views: 614

Re: IRA & 401 in same yr

and from the above sentence: "The rules permit $5500 to IRA and 18K to 401k for same tax year for folks under age 50" (with income restrictions???) :oops: While her income may be too high to allow direct Roth IRA contributions and Traditional IRA deduction but she can still contribute to ...
by 2beachcombers
Wed Apr 27, 2016 9:31 am
Forum: Personal Finance (Not Investing)
Topic: IRA & 401 in same yr
Replies: 9
Views: 614

Re: IRA & 401 in same yr

Yes, she can contribute to IRA. She may need to consider which type of IRA contribution carefully Traditional IRA or Roth IRA. Roth IRA contributions are always after-tax but if she has high income, she may not be eligible for Roth IRA contributions. Traditional IRA contributions have an income lim...
by 2beachcombers
Wed Apr 27, 2016 9:00 am
Forum: Personal Finance (Not Investing)
Topic: IRA & 401 in same yr
Replies: 9
Views: 614

Re: IRA & 401 in same yr

Are you are talking about IRA and 401k? If the person has a 401k at work, then the deductible trad ira income limit would be less. Based on the income, the person would be eligible to contribute to deductible trad ira (low income limit) and a roth ira (higher income limit). Please use the below URL...
by 2beachcombers
Wed Apr 27, 2016 8:58 am
Forum: Personal Finance (Not Investing)
Topic: IRA & 401 in same yr
Replies: 9
Views: 614

Re: IRA & 401 in same yr

Yes, she can contribute to IRA. She may need to consider which type of IRA contribution carefully Traditional IRA or Roth IRA. Roth IRA contributions are always after-tax but if she has high income, she may not be eligible for Roth IRA contributions. Traditional IRA contributions have an income lim...
by 2beachcombers
Wed Apr 27, 2016 7:59 am
Forum: Personal Finance (Not Investing)
Topic: IRA & 401 in same yr
Replies: 9
Views: 614

IRA & 401 in same yr

My daughter must wait 6 mo. to start her 401. Can she contribute to her IRA in the mean time? As a single, I believe she can contribute 5500$.?

TIA
by 2beachcombers
Sat Apr 16, 2016 10:00 am
Forum: Investing - Theory, News & General
Topic: Fidelity Spartan 500 Index Fund Dividend
Replies: 73
Views: 4935

Re: Fidelity Spartan 500 Index Fund Dividend

I am also waiting on the FUSVX dividend. I usually rollover the dividend from my rollover IRA to my Roth - and then invest in a combination of ITOT, IEMG, or IEFA with it. I called Fidelity and got the same response as everyone else. I think it would be nice if Fidelity gave us a week notice of the...
by 2beachcombers
Mon Feb 01, 2016 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: TT prior year returns
Replies: 4
Views: 531

Re: TT prior year returns

Tried to look at prior yr returns, message said--must pay for 2015 first. This is new, I have not encountered this before? Called the help desk 3 times yesterday, 2 hang ups and one to a CSR's desk recording. This is why you should always buy the desktop/laptop program, not the online service. You ...
by 2beachcombers
Sun Jan 31, 2016 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: TT prior year returns
Replies: 4
Views: 531

TT prior year returns

Sorry I used intuit again. Tried to look at prior yr returns, message said--must pay for 2015 first. This is new, I have not encountered this before? Called the help desk 3 times yesterday, 2 hang ups and one to a CSR's desk recording. What is also pathetic--I purchased 2015 in DEC. Called again, th...
by 2beachcombers
Tue Jan 05, 2016 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: [What will you do differently in] 2016
Replies: 62
Views: 6950

Re: [What will you do differently in] 2016

Simplify holdings for spouse Maintain 70% AA in equities; maintain IDA AA(yes, I know, this is inconsistent w/ my first statement)--but there are other holdings. Read, every day (daughter's gift when she was 14)-Her penned Calligraphy of Desiderata. (gave copy to my granddaughter this year) Gift mor...
by 2beachcombers
Tue Jan 05, 2016 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)
Replies: 35
Views: 5588

Re: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)

TheEternalVortex wrote:I'm just a regular customer but I got this offer. Too bad I already bought TT...

Ask your broker for a refund. I just got mine.
jerry
by 2beachcombers
Mon Jan 04, 2016 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)
Replies: 35
Views: 5588

Re: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)

pshonore wrote:Sched D is in the CD version of TT Basic. However I do not think it is in the online version of Deluxe

that is the confusion--it is in my online version!--unless they sent me premier?
by 2beachcombers
Sun Jan 03, 2016 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)
Replies: 35
Views: 5588

Re: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)

Interesting and very confusing--TT is at it again. One month ago I purchased Delux-with State(on line version with efile) it contains all the bells and whistles I had in last yrs Premier. I have been refunded 100% by FIDO for several years. I send them the invoice and they post the $ to my account. ...
by 2beachcombers
Thu Nov 26, 2015 10:54 am
Forum: Investing - Theory, News & General
Topic: Reporter doing story on iShares ITOT
Replies: 21
Views: 2625

Re: Reporter doing story on iShares ITOT

... A fee cut from 0.07% to 0.03% is hardly significant.... Sure it has less volume than VTI but the spread is respectable. They cut the fees by 57%. I think its a big deal because others such as https://www.schwab.com/public/schwab/investing/accounts_products/investment/etfs/schwab_etfs/market_cap...
by 2beachcombers
Thu Nov 26, 2015 10:52 am
Forum: Investing - Theory, News & General
Topic: Reporter doing story on iShares ITOT
Replies: 21
Views: 2625

Re: Reporter doing story on iShares ITOT

Julieta wrote:
2beachcombers wrote:I use ITOT for FSTVX replacement


What is your rationale for using both funds?

Use one at a time and only change for TLH partner
by 2beachcombers
Thu Nov 26, 2015 8:29 am
Forum: Investing - Theory, News & General
Topic: Reporter doing story on iShares ITOT
Replies: 21
Views: 2625

Re: Reporter doing story on iShares ITOT

I use ITOT for FSTVX replacement
by 2beachcombers
Thu Nov 19, 2015 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Parents - your favorite and most challenging years
Replies: 71
Views: 7381

Re: Parents - your favorite and most challenging years

Best--2 categories:

teenage male hockey player and the daughter-- equitation(and both still engaged in their 40's)

spin forward 30 years and take 3 (10-13) grandchildren in a RV to Yellowstone

Most challenging--almost non existant--kids are fun

jerry
by 2beachcombers
Sat Nov 07, 2015 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions in retirement...worth it?
Replies: 12
Views: 1585

Re: Roth conversions in retirement...worth it?

Another way to think about it is that right now the government's share is 15% and your share is 85%, as long as you keep conversions in the 15% bracket. Once you pull out your 85% share, it's yours 100% forever in the Roth. A few years hence, the government's share jumps to 28%, and your share fall...
by 2beachcombers
Sat Nov 07, 2015 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions in retirement...worth it?
Replies: 12
Views: 1585

Re: Roth conversions in retirement...worth it?

Definitely do Roth conversions to the top of the 15% bracket, but keep an eye on what that does to your ACA subsidy. When you get to 65 and Medicare, higher income lets you pay more for part B as well. Put together a spreadsheet projecting your annual taxable income for the next ten years, Assume z...
by 2beachcombers
Wed Nov 04, 2015 10:20 am
Forum: Investing - Help with Personal Investments
Topic: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]
Replies: 7
Views: 718

Re: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]

.
My 2016 AA plan after this Forum's Education: :happy
()includes adding new $$ X-div.)

Taxable: 33%
10%-- FSIVX(int)
05%---IEMG
03%---SCZ
15%--FSTVX(tsm)

Roths: 31%
09%--IJS
05%--EFV
04%---IJR
03%---VSS
10%--VTV

tIRA 36%
07%--FSRVX(reit)
28%-LQD/CDs/FSITX/cash
by 2beachcombers
Tue Nov 03, 2015 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: What happened ???? Fidelity Retirement Investment Planner
Replies: 15
Views: 2341

Re: What happened ???? Fidelity Retirement Investment Planner

Confused--I like the new retirement planner--especially the ability to adjust the tax rate. It does take some time to get use to the new format. And like most of the thread responses--the old RIP was good. I like this one better. ps the Spartans and RIP was also of the few reasons I am still with FI...
by 2beachcombers
Mon Nov 02, 2015 9:13 am
Forum: Investing - Help with Personal Investments
Topic: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]
Replies: 7
Views: 718

Re: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]

Dave-Thanks, agree with your logic.. VEA in taxable for sure. EFV or not in tIRA/Roth is still under consideration. I am heeding livesoft thoughts that since int. Value (10yr)perfomance has been below int. Blend; just might be a good reason to hold it.? I also think that either case is no big deal s...
by 2beachcombers
Sun Nov 01, 2015 8:30 am
Forum: Investing - Help with Personal Investments
Topic: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]
Replies: 7
Views: 718

Re: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]

livesoft wrote:Some folks would not have the same funds in taxable and in IRAs because of the possible interactions during tax-loss harvesting sales.


:annoyed Hmmm.. that is a new one for me. If I make the change, will heed your advice.

Will get back into the WIKI and understand your concern.

jerry
by 2beachcombers
Sun Nov 01, 2015 8:00 am
Forum: Investing - Help with Personal Investments
Topic: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]
Replies: 7
Views: 718

Re: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]

You make excellent point on buying low. At this point, I am more interested in simplifying that a small delta in gain.

Will edit my post as I was using VSS for what I meant to say was large cap blend international :oops:

Sorry for the error

jerry
by 2beachcombers
Sat Oct 31, 2015 11:31 am
Forum: Investing - Help with Personal Investments
Topic: VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]
Replies: 7
Views: 718

VEA or EFV [Vanguard FTSE Developed Markets vs. iShares MSCI EAFE Value]

Need logic check on making my first portfolio modification in 5 yrs. Will be re-balancing in Dec and considering to move away from EFV/IDA(Roth) and changing to VEA Retired--/income=needs--/90% of portfolio to heirs--/Bernstein Ida AA(int and US value tilts)--/Change applies to Roth only. Portfolio:...
by 2beachcombers
Wed Oct 28, 2015 8:02 am
Forum: Investing - Theory, News & General
Topic: Take RMDs in Jan or Dec? (if investing, not spending RMDs)
Replies: 45
Views: 5058

Re: Take RMDs in Jan or Dec? (if investing, not spending RMDs)

If I have understood this thread, I can take my RMD at year end(withhold annual tax) and eliminate my quarterly payments? Is this correct. It seems to me the IRS would still want their $$ qarterly? :confused You understand correctly. I suspect that the IRS would in fact like their pound of flesh ea...
by 2beachcombers
Tue Oct 27, 2015 3:31 pm
Forum: Investing - Theory, News & General
Topic: Take RMDs in Jan or Dec? (if investing, not spending RMDs)
Replies: 45
Views: 5058

Re: Take RMDs in Jan or Dec? (if investing, not spending RMDs)

If I have understood this thread, I can take my RMD at year end(withhold annual tax) and eliminate my quarterly payments?

Is this correct. It seems to me the IRS would still want their $$ qarterly? :confused

jerry and TIA
by 2beachcombers
Wed Oct 21, 2015 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax deluxe/premier
Replies: 5
Views: 1242

Re: Turbotax deluxe/premier

Just hung up from talking to a supervisor at TT. ( this was after talking with some 18 year on who was not with the company last year.) That may be a qualification for being a CSR now. They may not want anyone who had to sit through the complaints of the past couple of year. :twisted: ... She said ...
by 2beachcombers
Wed Oct 21, 2015 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax deluxe/premier
Replies: 5
Views: 1242

Re: Turbotax deluxe/premier

Just hung up from talking to a supervisor at TT. ( this was after talking with some 18 year on who was not with the company last year.) YES--they did reverse and put SchD back in Delux. :happy however--they are still being deceptive with their web site stearing us to Premier. :twisted: She said the ...
by 2beachcombers
Fri Oct 09, 2015 8:42 am
Forum: Investing - Theory, News & General
Topic: Effect of Rebalancing When Stocks Are Down
Replies: 22
Views: 2306

Re: Effect of Rebalancing When Stocks Are Down

I rebalance annually. And I do this for an additional benefit beyond this thread. Although retired, I have significant year to year changes in my income. I use rebalancing to control my dividend income in some high income years. This variation is due to several factors--- increasing deferred income,...
by 2beachcombers
Wed Oct 07, 2015 12:41 pm
Forum: Investing - Theory, News & General
Topic: The Investors Manifesto
Replies: 46
Views: 7154

Re: The Investors Manifesto

Ok--it's been 5 years since I have altered my Ida percentages--

Waiting for Dr Bill's next book for adjustments :P

jerry
by 2beachcombers
Wed Mar 25, 2015 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: SPIA: Northwestern Mutual vs New York Life
Replies: 17
Views: 2145

Re: SPIA: Northwestern Mutual vs New York Life

Bought a SPIA for my mom 10 years ago. She was concerned she would never see all the investment returned. She is 90, drives, dances, does house work, gardens, etc. She feels like she will be getting free monthly checks for the nex10-20 yrs. Bought another SPIA for her 83 yo sister--we did this to co...
by 2beachcombers
Tue Mar 24, 2015 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Georgia Retirement Income Exclusion
Replies: 22
Views: 3917

Re: Georgia Retirement Income Exclusion

I also find international income(dividends) are also considered deductible in Ga. Looks like TT handles this income as "out of state" :D As I read the 2014 tax instructions , this would only apply if you are a non-resident, and that is the rule in most states. The only adjustment for GA r...

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