Search found 185 matches

by Goodman60
Sun May 21, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

My own guess is that the bubble will not pop for those at or above upper middle class. As with healthcare, I plan, financially, for continued high costs for family education.
by Goodman60
Sun May 21, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

I do not
by Goodman60
Sun May 21, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

This is a VERY good discussion. Thank you all for helping me think this out. To the post just above, yes, you make a great point. On the other hand, don't we generally make most financial decisions based on the assumption that current tax law will be future tax law, even though we know there will be...
by Goodman60
Sun May 21, 2017 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

I appreciate that point of view. I DO feel like I'd be paying twice by NOT using the 529 money. And I can always superfund a 529 for grandkids as they arrive, assuming I live the 5 years that superfunding requires (in order to not be clawed back into a deceased estate for estate taxation counting). ...
by Goodman60
Sun May 21, 2017 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

This is the second post like this recently. I can't understand why one would save in a 529 account, have the opportunity to use that money to pay for higher education as intended and then not spend it. Estate planning. The opportunity to pay direct for education and not be subject to gift tax (or e...
by Goodman60
Sat May 20, 2017 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

To answer your question - I believe you get a 1099-Q when you take a 529 distribution. The 1099-Q lists the earnings and your "basis" for the distribution. You compare the total distributions from the 529 from that year to your educational expenses for that year. So put another way, if yo...
by Goodman60
Sat May 20, 2017 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

Do you have other kids that you could use the 529 on? If not clean that out and avoid paying taxes on it. No but I might want to kick the 529 money down the family tree and save it for grandkids from another child. Then take advantage of the "direct pay of education" allowance (no gift ta...
by Goodman60
Sat May 20, 2017 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Re: Use 529 Money Or Not?

The check doesn't have to come in his name. The check CAN be sent to me, the account owner, if requested. But that's not the issue. I can lend him the money and pay directly on his behalf. If I decide, later, it can be deemed a direct payment with no reimbursement to me. I've been doing 529 withdraw...
by Goodman60
Sat May 20, 2017 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1420

Use 529 Money Or Not?

My son will start a top 14 law school this fall. All in it will cost about $250,000 to $300,000 including living expenses. I can pay for it from taxable savings or from his 529 account. I'm thinking of doing something else with the 529 and just paying for law school directly. Assuming he starts this...
by Goodman60
Mon May 01, 2017 8:57 am
Forum: Investing - Help with Personal Investments
Topic: Interesting Tax Guide - 2017
Replies: 18
Views: 2481

Re: Interesting Tax Guide - 2017

Any good, specific, new tax saving nuggets you can share?
by Goodman60
Sat Apr 29, 2017 3:45 pm
Forum: Personal Consumer Issues
Topic: Does a credit card authorized user get their own credit card?
Replies: 15
Views: 819

Re: Does a credit card authorized user get their own credit card?

When my kids were pre-teens (now 27 and 23), I put them on as authorized users. When the oldest hit age 18, her credit score was near 800 at the getgo. My younger had a score in the low 700s. It's my understanding that, at one point, doing this no longer helped the authorized user. But that it again...
by Goodman60
Thu Apr 27, 2017 11:35 pm
Forum: Investing - Help with Personal Investments
Topic: Stay Out Of REITs?
Replies: 35
Views: 4558

Re: Stay Out Of REITs?

Blueskies123 wrote:Despite what the others say it does not make a lot of sense to diversify into REITs at all time highs.



So should we sell stocks and bonds too, since they, also, are at all time highs?
by Goodman60
Mon Apr 24, 2017 4:53 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

I hate to be blunt, but I think you're trying to justify your price to yourself rather than accept market feedback. As others have mentioned you need to reset your market expectations and if you think you have the yeild curve perfect consider renting it out for a period. When my wife and I purchase...
by Goodman60
Mon Apr 24, 2017 4:45 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

One other relevant tidbit: I told the realtor at the beginning that I wanted a 5% commission listing, to which she agreed. When I complained recently about the lack of traffic, she said that "maybe' some realtors are shying away from the 5% commission, generally reserved for homes $1M and over....
by Goodman60
Mon Apr 24, 2017 4:36 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

Ok. Thanks for the clarification. I better understand the street issue now. Have any of the 19 similar detached homes sold recently? 3 over the past 5 years...because they were the only ones for sale (a very stable neighborhood). Mine, however, is right against the entrance to the townhouses, so it...
by Goodman60
Mon Apr 24, 2017 4:24 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

I am the OP replying to the last post. First of all, I think you're replying to multiple folks here. My home is a 4 bedroom, single family home in an upscale suburb of Pittsburgh with an excellent, "highly desirable" school district. The cul-de-sac issue is as follows: The house was built ...
by Goodman60
Mon Apr 24, 2017 9:05 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 9097

Re: Why is Real-Estate so Bad?

My overall conclusion about real estate is that what makes it "so bad" is that it's us, the little guys, competing with the economy of scale of the big guys. The era where Grandpa could accumulate a fortune buying duplexes is pretty much over. Because with computers and automation, the lit...
by Goodman60
Mon Apr 24, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 19808

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

Of course all those who died young (and presumably regret having been overly frugal) are unable to post... Interesting thing about that. It's not just death that could cause regrets. You could end up constrained in other ways and live to regret it. In my case, I acquired a chronic health condition ...
by Goodman60
Sun Apr 23, 2017 6:55 pm
Forum: Local Chapters and Bogleheads Community
Topic: The next generation of Boglehead authors
Replies: 41
Views: 3338

Re: The next generation of Boglehead authors

I miss Rick Ferri's posts too
by Goodman60
Sun Apr 23, 2017 12:34 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

I'm envisioning the 1979 yellow needs to go. Neutral neutral, neutral. A fresh coat of paint is $50 and an afternoon. If it helps get an offer, it's def worth it. Not saying that's your biggest problem, but I'm guessing its not helping. What about the yellow fixtures and yellow tile floor? I can't ...
by Goodman60
Sun Apr 23, 2017 12:13 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

Is it your house or the economy in Pittsburgh? Westinghouse bankruptcy, Heinz and Kraft merger, other things affecting your sale? What does your current realtor tell you about the economy if she is one of the top agents? Naah. Despite those local speed bumps, medicine and Google/Carnegie Mellon hav...
by Goodman60
Sun Apr 23, 2017 10:48 am
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

Again I'm the OP with some answers to follow up questions here. The listing was for 4 months, expiring in about 30 more days. The agent is a "big Gun" and my $475K property is in the "average" price range of what she usually sells. She'll let me go now if I want. She had good, pr...
by Goodman60
Sat Apr 22, 2017 4:51 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

I'm the OP. The house is in good cosmetic and mechanical shape. The lot isn't great; it's a cul de sac that opens into a townhouse complex. That being said, it's in a great school district and is a good neighborhood. I'll take what I can get but it's not clear how far to cut the price and how fast....
by Goodman60
Sat Apr 22, 2017 4:09 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Re: Issue With Real Estate Agent (Seller)

I'm the OP. The house is in good cosmetic and mechanical shape. The lot isn't great; it's a cul de sac that opens into a townhouse complex. That being said, it's in a great school district and is a good neighborhood. I'll take what I can get but it's not clear how far to cut the price and how fast. ...
by Goodman60
Sat Apr 22, 2017 12:51 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 56
Views: 4915

Issue With Real Estate Agent (Seller)

My home has been listed since January. There have been very few showings in spite of lowering the price 5% then another 5% from where the listing agent suggested we start. I remembered that when I sold my prior home, 25 years ago, the selling agent insisted that she be there to show the property whe...
by Goodman60
Tue Apr 18, 2017 10:25 am
Forum: Personal Consumer Issues
Topic: Dishwasher Problem
Replies: 4
Views: 521

Dishwasher Problem

My 3 year old Kenmore dishwasher did something weird today. Upon trying to clean a load, no water would get into the tub. But water leaked underneath into my garage. There was an error message that there was no water. Oddly, the water is live to the dishwasher and there is no leak as long as I don't...
by Goodman60
Fri Mar 31, 2017 12:29 pm
Forum: Personal Consumer Issues
Topic: Someone To Be In Charge of Moving
Replies: 6
Views: 493

Someone To Be In Charge of Moving

Soon I will be moving out of the house where our kids were raised and we lived for 25 years. I'm single now and will be downsizing to an apartment or probably townhouse. The thought of moving/selling/trashing stuff is stressing me out. I'm fairly well off. Meaning I'd like to just pay someone to be ...
by Goodman60
Wed Mar 01, 2017 8:34 pm
Forum: Personal Consumer Issues
Topic: Florida Sunpass and EPass Tolling
Replies: 5
Views: 649

Re: Florida Sunpass and EPass Tolling

I guess a logical follow up question, perhaps with no concrete answer, is: Why hasn't there been a push for a standardized toll system? Put another way, since so many EZPass'ers from the Northeast visit/move to Florida, why can't EZPASS become at least compatible with the two Florida systems?
by Goodman60
Wed Mar 01, 2017 4:18 pm
Forum: Personal Consumer Issues
Topic: Florida Sunpass and EPass Tolling
Replies: 5
Views: 649

Florida Sunpass and EPass Tolling

Why does Florida have TWO DIFFERENT toll collection agencies...Sunpass and EPass (not to be confused with the North East's EZPass)? To this outsider, this seems totally confusing and, frankly, ridiculous.
by Goodman60
Mon Feb 27, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: To Rent or Buy Townhouse
Replies: 15
Views: 1736

Re: To Rent or Buy Townhouse

This was a good conversation for me, the original poster. Yes, my newly single status means I have no idea where I'll end up in a few years. I guess, having owned my own home for 35 years, I'm a little nervous about not having my "own" place. And I posted this to be sure I wasn't missing a...
by Goodman60
Sun Feb 26, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: To Rent or Buy Townhouse
Replies: 15
Views: 1736

Re: To Rent or Buy Townhouse

Rent for $30000 a year is a lot. Maybe rent for a year or two and then decide. Renting gives a lot of freedom to move around if you want. What does the HOA fee pay for? Outside maintenance? More like $25,000 for a $325,000 unit. Is that alot? Property tax on that unit would be about $9000/year. Yar...
by Goodman60
Sun Feb 26, 2017 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: To Rent or Buy Townhouse
Replies: 15
Views: 1736

Re: To Rent or Buy Townhouse

Rent for $30000 a year is a lot. Maybe rent for a year or two and then decide. Renting gives a lot of freedom to move around if you want. What does the HOA fee pay for? Outside maintenance? The HOA fee covers all yard work and show removal (which can be an expensive proposition in a bad winter or n...
by Goodman60
Sun Feb 26, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: To Rent or Buy Townhouse
Replies: 15
Views: 1736

To Rent or Buy Townhouse

I'm newly single and my big family house is for sale. My kids are grown so it's just me. I live in Pittsburgh. Some neighborhoods have seen big real estate price increases as the economy has improved here, but generally property perks along at about the rate of general inflation at best. And propert...
by Goodman60
Thu Feb 16, 2017 4:58 pm
Forum: Personal Consumer Issues
Topic: Good Restaurant Near Clearwater Airport (PIE)
Replies: 4
Views: 344

Re: Good Restaurant Near Clearwater Airport (PIE)

David Jay wrote:Eating PIE? :happy


For dessert!
by Goodman60
Thu Feb 16, 2017 4:01 pm
Forum: Personal Consumer Issues
Topic: Good Restaurant Near Clearwater Airport (PIE)
Replies: 4
Views: 344

Re: Good Restaurant Near Clearwater Airport (PIE)

hammockman wrote:The Chophouse on Ulmerton Drive is very good. Right before 19 North road to the airport, right by the hotels.


Looks good! Thank you!
by Goodman60
Thu Feb 16, 2017 2:46 pm
Forum: Personal Consumer Issues
Topic: Good Restaurant Near Clearwater Airport (PIE)
Replies: 4
Views: 344

Good Restaurant Near Clearwater Airport (PIE)

I'll be staying near the Clearwater Airport ("PIE) soon for an evening, and looking for a nice place to meet and old friend for dinner. Say $40-60 per person, total. Nothing elaborate but a cut above Chili's or Applebees type place.
by Goodman60
Thu Feb 16, 2017 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Childs Form 8615 W Parents Income Estimated
Replies: 4
Views: 293

Re: Filing Childs Form 8615 W Parents Income Estimated

Thank you. It's not clear why there is the choice to use Estimated or not, then. In either case, you only have to file an amended return if the child's tax changes. And really, only if the child's tax goes up.
by Goodman60
Thu Feb 16, 2017 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Filing Childs Form 8615 W Parents Income Estimated
Replies: 4
Views: 293

Filing Childs Form 8615 W Parents Income Estimated

I'm wondering if there are any consequences of filing my 22 year old son's tax return, using Form 8615, with the parents income (myself and my wife, filing jointly) as "Estimated". The situation is that we will probably have to put our own tax return on extension, perhaps even beyond Octob...
by Goodman60
Thu Feb 09, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA: transfer titled as Distribution
Replies: 21
Views: 1513

Re: Inherited IRA: transfer titled as Distribution

My wife died recently. My tIRA is at Vanguard and she had a small IRA at Schwab. What I did, to avoid problems, was open my own IRA at Schwab and rolled hers into that as my "Inherited IRA". Then, after the dust settled, I had Vanguard "pull" that IRA into my IRA with them, title...
by Goodman60
Mon Feb 06, 2017 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

I am the original poster. Here's what I decided, at least for now: I made my existing Donor Advised Charitable Fund the SECONDARY beneficiary of my Vanguard tIRA. I explained to my adult kids, and wrote them a letter with my final instructions, that if death and income taxes are similar to today, th...
by Goodman60
Mon Feb 06, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

If you feel confident you have enough for retirement without this IRA, why not start giving it away now? See what charities your local United Way supports. Find a few whose mission appeals to you, and check out their websites. Many will make their Form 990 available online so you can see where thei...
by Goodman60
Mon Feb 06, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

... according to James Langue, an IRA Guru often referenced here, there is a huge likelihood that IRAs will have to be withdrawn and taxed over only 5 years by non-spousal heirs. If you leave your IRA to charity, this won't be relevant. I know Jim Lange, and have been a guest on his radio show seve...
by Goodman60
Sun Feb 05, 2017 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

You do realize that, unless you have an estate larger than 5.45 million, your estate will go to your heirs tax free? Your heirs will have to take the money out of the IRA over a number of years and pay their personal tax rates on that money. Are your heirs all in the 35% bracket? It's over that. Al...
by Goodman60
Sun Feb 05, 2017 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

Peter Foley wrote:Sorry to hear of your loss. If by late last year your mean late 2016, I would look into the possibility of disclaiming the IRA. Let it pass directly to your children and avoid the double taxation.


The big IRA is mine. My wife had a very small IRA.
by Goodman60
Sun Feb 05, 2017 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

You might want to consider leaving your IRA to a foundation or a donor advised fund. With $700,000 you could reasonably do either one. The foundation takes more effort to set up but gives the family more control and will probably have lower ongoing costs. If your wife died recently, there may be so...
by Goodman60
Sun Feb 05, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

Alan S. wrote:Re federal estate tax, did you factor in the portability of the unused portion of your wife's exemption?



Yes
by Goodman60
Sun Feb 05, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

My goal is to prevent $700,000 from becoming $400,000 due to estate taxes and then having that become $200,000 after income taxation.

There has to be a better way to utilize that pool of money after my death.
by Goodman60
Sun Feb 05, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

Re: tIRA to Charity

Thank you for that response. I guess there are two issues here: 1. The most financially efficient way to deploy $700,000, that will, hopefully, be much more when deployed. I prefer to let my children have it but am willing to look at charities and charitable trusts, again with an eye to helping my c...
by Goodman60
Sun Feb 05, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: tIRA to Charity
Replies: 30
Views: 1549

tIRA to Charity

So I've been rethinking my estate plan. I'm only 57, but my wife died fairly suddenly late last year so it's time to rethink my situation. I have a $700,000 tIRA that will be subject to both Federal Estate Tax (under current law) and income tax to my adult children heirs who should be in a fairly hi...
by Goodman60
Fri Feb 03, 2017 9:51 am
Forum: Personal Consumer Issues
Topic: Collision Avoidance Systems
Replies: 19
Views: 1736

Re: Collision Avoidance Systems

5-8 years? I'll be on my 2nd or 3rd new car by then. I'm an every 2-3 year guy.

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