Search found 2638 matches

by Artsdoctor
Fri May 19, 2017 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Carryover Losses and Tax Gain Harvesting
Replies: 4
Views: 415

Re: Carryover Losses and Tax Gain Harvesting

Do they live in an area where real estate is high? If they've lived in their house for decades, do they have significant capital gains? If so, they can use those losses to offset capital gains from the sale of their house if they want to downsize, for example. ($500,000 in gains would not be taxed f...
by Artsdoctor
Fri May 19, 2017 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Question for you high net worth individuals... [real estate investments]
Replies: 82
Views: 10001

Re: Question for you high net worth individuals...

I've chosen to not invest in real estate just because it doesn't fit my personality. We have several friends who have done extremely well over many years by investing in income-producing properties but they really don't mind assuming the landlord role. They're actually really good at it. However, it...
by Artsdoctor
Fri May 19, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: How Best to Give?
Replies: 8
Views: 653

Re: How Best to Give?

As mentioned above, you don't have to go with Vanguard Charitable. The minimums at Fidelity and Schwab are more manageable. If you don't itemize but you'd still be paying capital gains tax, you can donate appreciate shares directly to the charity of your choice. Many charities have Vanguard accounts...
by Artsdoctor
Tue May 09, 2017 1:54 pm
Forum: Personal Consumer Issues
Topic: Can someone explain LA to me?
Replies: 11
Views: 1809

Re: Can someone explain LA to me?

Los Angeles is large, and you're going to experience tremendous variation in personalities and lifestyles. It's best to view it as an adventure and try to avoid painting the experience with broad strokes. You won't succeed in characterizing life in simple terms. West LA is a relatively wealthy part ...
by Artsdoctor
Mon May 08, 2017 3:54 pm
Forum: Investing - Help with Personal Investments
Topic: No losses to offset capital gains!
Replies: 14
Views: 1083

Re: No losses to offset capital gains!

My wife and I made 2 car purchases this year that required dipping into our taxable brokerage account and selling about $20,000 of investments. We realized about $5000 of capital gains. Our entire portfolio in our taxable account was stock based, mostly in index funds, and since the market is up, I...
by Artsdoctor
Mon May 08, 2017 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?
Replies: 20
Views: 1228

Re: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?

If this was an inherited qualified plan, it would be possible to do a direct trustee-trustee Roth conversion to an inherited Roth IRA. You just can not convert an Inherited IRA to a Inherited Roth IRA and Roth IRA contributions must be in cash. The distribution from an Inherited IRA to a taxable ac...
by Artsdoctor
Mon May 08, 2017 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?
Replies: 20
Views: 1228

Re: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?

NancyABQ wrote:
Artsdoctor wrote:However, he can make in-kind CONVERSIONS directly from the IRA to the Roth.


I don't believe this is true for an inherited IRA.


So sorry, I stand corrected. I was thinking spousal but that is not the case here.
by Artsdoctor
Mon May 08, 2017 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Individual health insurance
Replies: 59
Views: 3199

Re: Individual health insurance

What is the best way to get quality individual health insurance outside of any government exchanges / without using subsidies? And how much would such insurance cost (I know it depends on many variables but any rough estimates would help)? I would want a PPO plan that doesn't have the notorious res...
by Artsdoctor
Mon May 08, 2017 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?
Replies: 20
Views: 1228

Re: Does it make sense for a young adult to liquidate an Inherited IRA sooner than later?

Hello, My son (20 years old) received an Inherited IRA worth about $125K from his grandfather. I understand that my son will have to take yearly RMD's based on his age for Inherited IRA's (approx. 1.587% or $1,983.00 for this year). My son just finished his sophomore year in college and only works ...
by Artsdoctor
Sun May 07, 2017 12:51 pm
Forum: Investing - Help with Personal Investments
Topic: Preparing for Tax Loss Harvest
Replies: 27
Views: 947

Re: Preparing for Tax Loss Harvest

^ Yes, a lot of alternative facts out there indeed. Wash sale rules can often trip up people because the rules are not straightforward--on the first read. After you re-read and practice, it becomes clearer. Klang, there are a few things that helped me understand the wash sale rule. (First of all, th...
by Artsdoctor
Sun May 07, 2017 9:21 am
Forum: Investing - Help with Personal Investments
Topic: Preparing for Tax Loss Harvest
Replies: 27
Views: 947

Re: Preparing for Tax Loss Harvest

Klang, Don't stress about this. Like you, I do my best to appreciate all tax ramifications in my taxable accounts. However, you are most likely talking about relatively small amounts of money if you're using Specific Lot Identification for your shares. If you're really talking about very large sums ...
by Artsdoctor
Sun May 07, 2017 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Safe Retirement at 62?
Replies: 20
Views: 3894

Re: Safe Retirement at 62?

^ This is correct. A lot of people know that a COBRA policy is expensive. But it is surprising to me that so many people don't know that they may not have COBRA. During the financial crisis in 2008-2009, a lot of patients of mine assumed that they would just maintain their work insurance policy thro...
by Artsdoctor
Sat May 06, 2017 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Am I letting the Taxes Wag my Investments?
Replies: 9
Views: 1385

Re: Am I letting the Taxes Wag my Investments?

If you're charitably inclined, you can consider transferring those appreciated shares to a donor advised fund. Or a portion of those shares, of course. Or donating some of those directly to a charity.
by Artsdoctor
Sat May 06, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Medallion Signature for Vanguard Trust
Replies: 29
Views: 2180

Re: Medallion Signature for Vanguard Trust

Success! We tried a different branch of Chase today and we were in and out in 10 minutes. The woman that helped us was friendly and professional. Amazing compared to our negative experience yesterday. Many thanks to all the replies and good suggestions. My husband did call his credit union and coul...
by Artsdoctor
Sat May 06, 2017 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Retirement at 62?
Replies: 20
Views: 3894

Re: Safe Retirement at 62?

You didn't mention health care. How are you factoring that into the equation? One question is how much are you budgeting for health care pre-Medicare, but the first is how are you going obtain it? I kind of sort of did. Let me quote myself. "We can easily live on$6K/month, leaving $3K/month fo...
by Artsdoctor
Sat May 06, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Retirement at 62?
Replies: 20
Views: 3894

Re: Safe Retirement at 62?

You didn't mention health care. How are you factoring that into the equation? One question is how much are you budgeting for health care pre-Medicare, but the first is how are you going obtain it?
by Artsdoctor
Thu May 04, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Medallion Signature for Vanguard Trust
Replies: 29
Views: 2180

Re: Medallion Signature for Vanguard Trust

The person at the Vanguard Trust Department told me that the Medallion Signature was required. I will call tomorrow to see if there are any other options. Thank you for your suggestion. I don't know if this would work here, but we now bypass medallion signature guarantees by enrolling in Vanguard's...
by Artsdoctor
Thu Apr 27, 2017 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Los Angeles house buying
Replies: 32
Views: 3073

Re: Los Angeles house buying

Neal, Cost of living in LA for people starting out is a problem. You are right to be concerned. Several things: The 2X salary rule is artitrary. I don't know where that comes from but it won't apply to most people in a VHCOL area. Real estate is cyclical but you don't know where you are in the cycle...
by Artsdoctor
Thu Apr 27, 2017 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3761

Re: If you pay a high AMT, would you take out $1M mortgage?

Not all AMT is created equal. You can deduct your mortgage interest with or without AMT. But the question is how much that deduction is worth to you. AMT marginal rates, in your general bracket, would range from 28-35%. It depends on phase outs. And furthermore, it may vary from year to year. If you...
by Artsdoctor
Wed Apr 26, 2017 9:41 am
Forum: Investing - Help with Personal Investments
Topic: ETF verses Mutual Funds.
Replies: 37
Views: 1897

Re: ETF verses Mutual Funds.

One other issue. Some people have a set contribution monthly, for example, to buy into an investment. It's easy, and preferable, to arrange automatic contributions into mutual funds.

ETFs should be purchased during trading hours, which some people may not be able to due as easily.
by Artsdoctor
Wed Apr 26, 2017 9:36 am
Forum: Investing - Theory, News & General
Topic: Unwinding all positions and buy back after French Elections
Replies: 55
Views: 5638

Re: Unwinding all positions and buy back after French Elections

jebmke wrote:The only unwinding I am interested in as it relates to France involves wine.


!
by Artsdoctor
Tue Apr 25, 2017 4:58 pm
Forum: Investing - Theory, News & General
Topic: Unwinding all positions and buy back after French Elections
Replies: 55
Views: 5638

Re: Unwinding all positions and buy back after French Elections

Hi All, I was wondering, why should anyone run the risk of the impact of politicals risks when holding a portfolio? Given the low cost of investing ( in & out in your favorite low cost broker should run around ~7bps of your portfolio size or so), don't you think it's a good a idea to close all ...
by Artsdoctor
Sun Apr 23, 2017 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Before Tax Donations to a Donor Advised Fund?
Replies: 6
Views: 522

Re: Before Tax Donations to a Donor Advised Fund?

I'm not sure I understand your question but the gist of it is making charitable contributions with pre-tax dollars through a donor advised fund? This is not possible, as Gill described. The only way to make charitable contributions with pre-tax dollars is to make a QCD once you start RMDs (and not b...
by Artsdoctor
Sun Apr 23, 2017 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Is this tax deductible?
Replies: 19
Views: 1347

Re: Is this tax deductible?

The standard deduction for 2016 was $6,300 and seniors can take an additional $1,550. So she's going to have to itemize more than $7,850 in order to even deduct charitable contributions. If she would like to pursue itemization of charitable contributions, then she would have to first find out if thi...
by Artsdoctor
Sun Apr 23, 2017 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Investing a windfall
Replies: 7
Views: 1377

Re: Investing a windfall

Hi all, first time posting but a long time follower of the forum. Here's my situation: I am about to come into a large bonus from work of a couple of hundred thousand dollars. I have no immediate needs for the money as I have no debt and live a pretty reasonable lifestyle that is more than taken ca...
by Artsdoctor
Sun Apr 23, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Is this tax deductible?
Replies: 19
Views: 1347

Re: Is this tax deductible?

No. You cannot deduct being nice from your taxes. Hmmm, something you shouldn't have to worry about. Thanks for the snarky response. :twisted: I'm sorry it was misinterpreted. I actually thought you were pulling my leg and my response was meant in jest. The IRS has specific rules regarding charitab...
by Artsdoctor
Sun Apr 23, 2017 2:06 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 336
Views: 36762

Re: Larry Swedroe says "Goodby."

On his guidance - I always found that Larry's approach to bond investing was waaaay too complicated. I wonder how many non-clients actually implemented it. At least one. Ha. My entire bond portfolio has been created with Larry Swedroe's and Bill Bernstein's help by way of this forum. As far as left...
by Artsdoctor
Sun Apr 23, 2017 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is this tax deductible?
Replies: 19
Views: 1347

Re: Is this tax deductible?

No. You cannot deduct being nice from your taxes.
by Artsdoctor
Sun Apr 23, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 19818

Re: Any regrets living a frugal life for high income/high networth individuals?

Define "frugal."

Are you talking about being prudent or are you talking about being skimpy?

One can easily be prudent and want for nothing.

If you're miserly or cheap, that's another matter.
by Artsdoctor
Fri Apr 21, 2017 1:22 pm
Forum: Personal Consumer Issues
Topic: How much to pay a housekeeper?
Replies: 23
Views: 2805

Re: How much to pay a housekeeper?

^ I would venture a guess that most housekeepers arrive to work with the supplies that have been given to them. In other words, most housekeepers have not purchased brooms, mops, cleaning supplies, or most other items that a self-employed person might use. If you hire a cleaning company that's a dif...
by Artsdoctor
Fri Apr 21, 2017 8:55 am
Forum: Personal Consumer Issues
Topic: How much to pay a housekeeper?
Replies: 23
Views: 2805

Re: How much to pay a housekeeper?

I have a housekeeper that comes two days a week, 8 hours per day (she does laundry as well as clean). I pay her $120/day. This has been the same rate for two years now and I think it's time to raise it. Would love to get a sense of what other people pay a regular housekeeper. This probably varies b...
by Artsdoctor
Thu Apr 20, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: When does it make sense to start paying down (or off) a low rate mortgage?
Replies: 53
Views: 5371

Re: When does it make sense to start paying down (or off) a low rate mortgage?

The question of whether or not to pay down a mortgage is a staple on this and many other sites, as we are all very aware, so I hope this question is different enough that it doesn't go down the same rabbit hole. So, the question is, if you have a low rate mortgage (say 3% in todays environment) Is ...
by Artsdoctor
Thu Apr 20, 2017 2:05 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 336
Views: 36762

Re: Larry Swedroe says "Goodby."

This is a significant loss for the forum. Fortunately, there are so many posts left behind that we can reread them from time to time. That kind of knowledge is timeless. And there are the books as well. He'll be missed very much.
by Artsdoctor
Thu Apr 20, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: Evaluating my lack of jitters
Replies: 26
Views: 1710

Re: Evaluating my lack of jitters

Nisi, That is an incredible graph! You need to look into some sort of copyright protection. Crit, You're young and your job is secure. You can afford to take risk. That's all well and good for me to say because it's been a very long time since I was 43; I've dealt with three significant bear markets...
by Artsdoctor
Thu Apr 20, 2017 9:34 am
Forum: Investing - Help with Personal Investments
Topic: Munis and effect of pension funds on them and risks for portfolio
Replies: 18
Views: 1252

Re: Munis and effect of pension funds on them and risks for portfolio

Jackson, It's still difficult to be able to recommend specifics, but there is definitely something to know about your inherited individual munis. Remember that your Medicare premium is based on your modified adjusted gross income (MAGI). I don't know what sort of income you have, but muni interest i...
by Artsdoctor
Wed Apr 19, 2017 7:02 pm
Forum: Investing - Theory, News & General
Topic: Those that hold international equities at market-cap weight: what is your method?
Replies: 24
Views: 2458

Re: Those that hold international equities at market-cap weight: what is your method?

For US equities, I try to approximate Total Market. I realize it's mostly large cap but there's a reasonable amount of small and mid-cap as well. Total International doesn't really have the small cap exposure that I'd like although I don't have a meticulous formula to supplement. The bulk of my inte...
by Artsdoctor
Wed Apr 19, 2017 6:11 pm
Forum: Personal Consumer Issues
Topic: Tips on Uber
Replies: 64
Views: 5202

Re: Tips on Uber

I have taken Uber since the app became available in Los Angeles. I have taken Uber in many cities throughout the world and I rarely have tipped. All told, I've probably taken Uber a few hundred times. The no tipping policy in my mind probably dates back to when the company was rolled out. However, I...
by Artsdoctor
Wed Apr 19, 2017 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Munis and effect of pension funds on them and risks for portfolio
Replies: 18
Views: 1252

Re: Munis and effect of pension funds on them and risks for portfolio

The total gain for the muni part of the portfolio has been 3.12%. The majority of the munis were purchased in 2010 -2011. The last one matures in 2025. Of the years between now and 2025, the largest projected principal and interest distribution for the munis will be in 2019, for about $160,000 thst...
by Artsdoctor
Wed Apr 19, 2017 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase - No Mortgage
Replies: 4
Views: 741

Re: Home Purchase - No Mortgage

Your question specifically is what *I* would do in your situation. Bear in mind that I'm not you. There's no way I'd take money out of a 401k to purchase a home. Roth space is precious and I'd tap a Roth only if I had to, and I'd be as judicious as possible. I wouldn't sell assets which would produc...
by Artsdoctor
Wed Apr 19, 2017 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: All in with Balanced Index fund
Replies: 33
Views: 3431

Re: All in with Balanced Index fund

^ It is true that if you're going to consider LifeStrategy funds, you're going to have to look beneath the hood from time to time to make sure significant changes have not occurred. If at any point the LifeStrategy fund you're holding veers away from your needs, you can sell it without any problems ...
by Artsdoctor
Wed Apr 19, 2017 2:39 pm
Forum: Investing - Help with Personal Investments
Topic: Munis and effect of pension funds on them and risks for portfolio
Replies: 18
Views: 1252

Re: Munis and effect of pension funds on them and risks for portfolio

Without getting into details, the concept would be this. You'd count the munis as part of your fixed income asset allocation, of course. When they mature, you'd spend them (if necessary) or take what you don't want and put them into your equity or bond funds, wherever they're needed most. You're rea...
by Artsdoctor
Wed Apr 19, 2017 2:32 pm
Forum: Investing - Help with Personal Investments
Topic: All in with Balanced Index fund
Replies: 33
Views: 3431

Re: All in with Balanced Index fund

Thanks for all the replies. I was torn between vbinx and wellesley, but decided for passive for a few different reasons. Now if I can just make my monthly contributions for the next 25 yrs without tinkering..... :wink: If at any point you'd like to include international in your 60/40 split, LifeStr...
by Artsdoctor
Wed Apr 19, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5190

Re: Bill received after Estate is closed

The amount of the bill is reasonable. The way he handled the bill is ridiculous. I'm not a lawyer but the way I'd handle it is this: Call him up and say that this was mishandled. He was handling the estate and forgot to bill you prior to closing the estate? Ask him if this is how he usually does bus...
by Artsdoctor
Wed Apr 19, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: HSA and taxes
Replies: 9
Views: 562

Re: HSA and taxes

The 4th tax benefit is that even if you do not have sufficient medical expenses you can withdraw the funds penalty free after age 65 but will pay income tax on the withdrawal. Basically like a traditional IRA. True. But keep all of your receipts from the time you open your HSA because you can reimb...
by Artsdoctor
Wed Apr 19, 2017 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: All in with Balanced Index fund
Replies: 33
Views: 3431

Re: All in with Balanced Index fund

Thanks for all the replies. I was torn between vbinx and wellesley, but decided for passive for a few different reasons. Now if I can just make my monthly contributions for the next 25 yrs without tinkering..... :wink: If at any point you'd like to include international in your 60/40 split, LifeStr...
by Artsdoctor
Wed Apr 19, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: HSA and taxes
Replies: 9
Views: 562

Re: HSA and taxes

That would be the key. I wasn't aware of that rule. It would seem very hard to track since I can reimburse myself for expenses from way back when. For me, itemizing isn't really an option (10% AGI threshold). I keep all my receipts in one folder and annually reimburse from the HSA. Then I file thes...
by Artsdoctor
Wed Apr 19, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: HSA and taxes
Replies: 9
Views: 562

Re: HSA and taxes

Yes, you can certainly reimburse yourself for dental expenses. But the dental expenses you've already paid were paid in post-tax dollars. The general concept would be that medical (and dental expenses) can be paid in pre-tax dollars (but only once; you can't reimburse yourself for expenses paid in p...
by Artsdoctor
Wed Apr 19, 2017 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Munis and effect of pension funds on them and risks for portfolio
Replies: 18
Views: 1252

Re: Munis and effect of pension funds on them and risks for portfolio

Jackson, Are you familiar with the EMMA site? It can give you recent prices and ratings of most munis. First thing is first. Can you use the munis? Do the maturities match your needs? If no, then even highly rates individual munis may need to be sold because they don't fit into your investment plans...
by Artsdoctor
Wed Apr 19, 2017 11:34 am
Forum: Personal Finance (Not Investing)
Topic: HSA and taxes
Replies: 9
Views: 562

Re: HSA and taxes

I'm not sure I understand what you're reimbursing yourself for. You can't reimburse yourself for insurance premiums under most circumstances (you can for COBRA and Medicare premiums).

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