Search found 229 matches

by Goodman60
Thu Sep 21, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for a Credit Shelter/Bypass Trust
Replies: 0
Views: 77

Insurance for a Credit Shelter/Bypass Trust

Does a Credit Shelter Trust (AKA "Bypass Trust"), need liability insurance if it only owns publicly traded securities (like Vanguard Funds and ETFs? I know of a situation where such a trust owned a home and was named on the property casualty insurance for that home. The home was sold so that insuran...
by Goodman60
Thu Sep 07, 2017 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 2347

Re: Paying 4 years tuition for college to get discount?

I prepaid for my kid. The school I dealt with reported the payments as received each semester. The upfront money was credited to a prepaid account that was drawn down each semester.
by Goodman60
Thu Sep 07, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: how often does high ACT score == scholarship?
Replies: 85
Views: 4697

Re: how often does high ACT score == scholarship?

My own observation on upper middle class students who are great, but not quite the off-the-chart ones who cure cancer and create world peace, is this: Their academic accomplishment will get them a choice: Scholarships at good but not "name" institutions, OR entrance into top, "name" institutions, bu...
by Goodman60
Mon Sep 04, 2017 8:45 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

What's going on here? LPMs have a 20% failure rate The problem with LMP is that it underestimates the costs substantially. It does this by constructing unrealistic scenarios and not actually matching liabilities. https://medium.com/@justusjp/liability-matching-portfolios-have-a-20-failure-rate-27b7...
by Goodman60
Sun Sep 03, 2017 11:35 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

His point about the anxiety of an SWR plan is fabulous. And that you either die underspent or broke.
by Goodman60
Sat Sep 02, 2017 8:04 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

It is an oft-repeated (and good) point that if you start out taking 4% and the market declines significantly in year 2, that you are not going to happily take 6 or 7% going forward forever. If you thought 4% was going to give you $40K income but you in reality can only take $25K, that's not skippin...
by Goodman60
Sat Sep 02, 2017 5:33 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

This is the main point in the Kitces work. That by merely taking 4%, you are insuring against exactly that...a big drop in the early years. So, yes, if the market crashes in half, you can continue taking your original 4%, plus inflation, even though it's not actually 6 of 7% of your original balanc...
by Goodman60
Fri Sep 01, 2017 7:58 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

It is an oft-repeated (and good) point that if you start out taking 4% and the market declines significantly in year 2, that you are not going to happily take 6 or 7% going forward forever. If you thought 4% was going to give you $40K income but you in reality can only take $25K, that's not skippin...
by Goodman60
Fri Sep 01, 2017 4:26 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

There are no barriers to most people getting to 2-3% except self-imposed discipline issues. The issue is primarily cultural. The U.S. has been repeatedly noted for its low savings rate, especially when correlated with GDP. So while many struggle to get to 25x, most of the barriers they struggle aga...
by Goodman60
Fri Sep 01, 2017 11:42 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

TIPS ladder should never in a taxable account to avoid phantom income just like you mentioned...there's no such things as "not real" inflation gain when each rung of your TIPS ladder matures - the inflation gain is very real then and the whole point of forming a TIPS ladder. So, yeah! If you screw ...
by Goodman60
Fri Sep 01, 2017 9:03 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

Perhaps the bottom line is that no matter how much you save, there is no 100% iron-clad security. If you can save 25x spending (4%SWR), you're probably doing about as good as most can do. Many of we Bogleheads are natural savers and can do better. Many (most?) Americans retire with very little excep...
by Goodman60
Fri Sep 01, 2017 8:57 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

we have hyperinflation (even TIPS with their 6-month lag get adjusted too slow to mitigate this) As an aside, there's an article in the Journal of Financial Planning on exactly this called "Inflation, Hyperinflation, Adjustment Lags: Why TIPS Don't Guarantee Real Returns". Despite the scary soundin...
by Goodman60
Thu Aug 31, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

Might also want to check rates where he is going to be keeping the car. Philadelphia had absolutely brutal insurance rates compared to the rest of the state when we lived there a long time ago. It's out of state. Because my son will remain a legal resident of PA during his law school tenure, the ca...
by Goodman60
Thu Aug 31, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

... it makes the case that as long as you take a "child" as a tax deduction dependent, you're liable. It makes little sense to posit about this (or just about any other legal issue) that someone is or is not liable unless the discussion is limited to a particular state. And even then the answer may...
by Goodman60
Thu Aug 31, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

There's also another poster in the same thread who mentioned about the tax returns. Interesting---I did not know this. You might want to call your insurance company. If you have excess liability insured with an umbrella policy, also discuss that aspect. It may not cover him in "his" vehicle. Your u...
by Goodman60
Thu Aug 31, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

There's also another poster in the same thread who mentioned about the tax returns. Interesting---I did not know this. You might want to call your insurance company. If you have excess liability insured with an umbrella policy, also discuss that aspect. It may not cover him in "his" vehicle. Your u...
by Goodman60
Thu Aug 31, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

We just had a discussion with our insurance agent not too long ago about this--at what age do they get their own insurance. She said around the age of 25 they should have their own insurance. Our younger son, who is 18, wants to purchase a better vehicle next year (at age 19). We asked if he should...
by Goodman60
Thu Aug 31, 2017 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Re: Spinning off 23 Year Old Son (Car)

His insurance company is liable as long as he truthfully fills out the application. If the accident cost goes above the policy limit anybody can sue anybody and that's what lawyers are for. That was my thinking too. That anyone can sue anyone for anything and sometimes be successful. But that "spin...
by Goodman60
Thu Aug 31, 2017 3:02 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 331
Views: 31331

Re: Michael Kitces 4% rule podcast on Madfientist

I've been thinking about the whole SWR thing for years and years. And that's exactly the tweak I think many of us on BHs are missing. That retirement spending, for many, can be broken down into required spending (our personal overheads that's pretty much fixed, unless we want to do serious ramping u...
by Goodman60
Thu Aug 31, 2017 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1280

Spinning off 23 Year Old Son (Car)

I am wondering about "spinning off" my 23 year old son, who has just started law school out of state. I'm talking about his car. He's still a legal resident of my Pennsylvania house during the 3 years of law school and will remain on my health insurance (that I pay...quite a bit, by the way). I'd li...
by Goodman60
Tue Aug 29, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: What does Medicare REALLY Cost Wealthy Seniors
Replies: 24
Views: 2187

Re: What does Medicare REALLY Cost Wealthy Seniors

Whereas Medicare patients can go anywhere. Medicare is the choice for the best accessability. This varies a lot by locality, and there may be significant differences between primary care and specialists. See my edited post, three above. Providers here can't survive if they refuse Medicare patients.
by Goodman60
Tue Aug 29, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: What does Medicare REALLY Cost Wealthy Seniors
Replies: 24
Views: 2187

Re: What does Medicare REALLY Cost Wealthy Seniors

I am curious about this. What does a full health coverage package REALLY cost wealthy seniors? I am taking about someone in the top Medicare bracket, who also wants "the best" supplement and drug coverage? What's the TOTAL cost? I get it that there is variation with regard to deductibles and copays...
by Goodman60
Tue Aug 29, 2017 8:35 am
Forum: Personal Finance (Not Investing)
Topic: What does Medicare REALLY Cost Wealthy Seniors
Replies: 24
Views: 2187

What does Medicare REALLY Cost Wealthy Seniors

I am curious about this. What does a full health coverage package REALLY cost wealthy seniors? I am taking about someone in the top Medicare bracket, who also wants "the best" supplement and drug coverage? What's the TOTAL cost? I get it that there is variation with regard to deductibles and copays....
by Goodman60
Fri Aug 25, 2017 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: help with IRS letter charging for taxes on 2015 backdoor roth
Replies: 28
Views: 2599

Re: help with IRS letter charging for taxes on 2015 backdoor roth

Update: 2.5 months after the IRS received copies of the relevant parts of the original tax return that I prepared, they decided that the backdoor Roth in question was done correctly. And they closed out the matter. Have the rest of you gotten your backdoor Roth inquiries resolved too?
by Goodman60
Fri Aug 25, 2017 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Audit - Backdoor Roth
Replies: 59
Views: 14843

Re: IRS Audit - Backdoor Roth

Update: For what it's worth, 2.5 month after reviewing copies of the relevant parts of the original tax return, the IRS has decided that the backdoor Roth, in my circumstance, was done correctly and they closed the matter. Have the rest of you gotten your backdoor Roth inquiries settled too?
by Goodman60
Fri Aug 25, 2017 9:19 am
Forum: Personal Consumer Issues
Topic: Tax Implications of Selling Personal Residence
Replies: 11
Views: 832

Tax Implications of Selling Personal Residence

So what are the tax ramifications of selling my personal residence? There was very little, if any, capital gain. Certainly nothing near $250,000. The closing agent did ask for my SS number, but I did not receive a 1099 at closing like I think I remember when I sold my last house a generation ago. Do...
by Goodman60
Fri Aug 25, 2017 9:16 am
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 58
Views: 6222

Re: Issue With Real Estate Agent (Seller)

Follow up from the Original Poster (me): After 5 months with the original agent, I interviewed another agent who showed me that the price was about 10% too high. I listed with her and she sold the place in 3 days. I already knew the price was too high to begin with. Thank you all for the advice here...
by Goodman60
Thu Jul 20, 2017 12:32 am
Forum: Personal Consumer Issues
Topic: Putting Your Furniture in Storage
Replies: 13
Views: 1028

Putting Your Furniture in Storage

I have older furniture...4 bedrooms, living room, dining room, family room and a few things in the basement. I'm thinking about putting it all in storage and renting a furnished apartment for a year as I decide where my next permanent home will be. What might this cost to do? I have no clue and woul...
by Goodman60
Mon Jun 19, 2017 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Audit - Backdoor Roth
Replies: 59
Views: 14843

Re: IRS Audit - Backdoor Roth

Seems like many Bogleheads have gotten CP2000 notices about 2015 backdoor Roth conversions during the past few weeks:

viewtopic.php?f=2&t=221314
by Goodman60
Sat Jun 17, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Unable to Access POA in Revocable Trust
Replies: 30
Views: 2195

Re: Unable to Access POA in Revocable Trust

Why the hurry to pay the hospital? And why is this not the successor Trustee's problem?
by Goodman60
Sat Jun 17, 2017 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion and IRS trying to tax it
Replies: 7
Views: 779

Re: Backdoor Roth Conversion and IRS trying to tax it

Sounds like you are one of many getting nasty grams about 2015 backdoor Roth conversions. Read this thread:

viewtopic.php?f=2&t=221314
by Goodman60
Sat Jun 17, 2017 6:24 am
Forum: Personal Finance (Not Investing)
Topic: help with IRS letter charging for taxes on 2015 backdoor roth
Replies: 28
Views: 2599

Re: help with IRS letter charging for taxes on 2015 backdoor roth

Also, for what it's worth, my experience from prior such letters suggests that in about 30 days I'll get a notice saying that they received my reply and will process it soon. And in another 30 days they'll send a "no change" letter, or will want something else which will require another re...
by Goodman60
Sat Jun 17, 2017 6:00 am
Forum: Personal Finance (Not Investing)
Topic: help with IRS letter charging for taxes on 2015 backdoor roth
Replies: 28
Views: 2599

Re: help with IRS letter charging for taxes on 2015 backdoor roth

I just got one of these notices too, for 2015, for a backdoor Roth, and believe I did the tax return right. So I returned the IRS notice with copies of my original Forms 1040 and 8606 and circled, in red, the lines in question. I replied by Certified Mail. Hopefully I'll get a "no change" ...
by Goodman60
Thu Jun 15, 2017 2:01 pm
Forum: Personal Consumer Issues
Topic: Good Digital Tire Gauge
Replies: 21
Views: 1746

Re: Good Digital Tire Gauge

Fletch wrote:This is not digital, but is the best tire gage I've had.

https://www.amazon.com/Joes-Racing-3230 ... tire+gauge



OK, I gave up on digital and bought this. It arrived today and seems very good. Thank you so much for the recommendation. :D
by Goodman60
Wed Jun 14, 2017 8:03 pm
Forum: Personal Consumer Issues
Topic: Getting a Florida Sunpass
Replies: 14
Views: 1510

Re: Getting a Florida Sunpass

If you put your rental car plate number into the app, why does he need the windshield thingie? The system obviously reads your plate. I suspect it's because not all system readers are the same throughout the state. Some are old for the old windshield sticker system and have not yet been replaced wi...
by Goodman60
Wed Jun 14, 2017 7:46 pm
Forum: Personal Consumer Issues
Topic: Getting a Florida Sunpass
Replies: 14
Views: 1510

Re: Getting a Florida Sunpass

I just did exactly that...ordered the more durable Sunpass. It's still not clear why I need to enter my plate number on a rental car...or, if I can just enter my plate number, why do I need the Sunpass transponder? Here in PA I use EZPass for rental cars often. I never enter anything...the toll plaz...
by Goodman60
Wed Jun 14, 2017 6:12 am
Forum: Personal Consumer Issues
Topic: Getting a Florida Sunpass
Replies: 14
Views: 1510

Getting a Florida Sunpass

I've been spending time in Florida, although I don't live there. And am wondering about getting a SUNPASS for toll travel. Currently I just let the rental car bill me, with the added juice. How does this work for out-of-staters? And is it worth my while (4-5 trips to Fla per year) or should I just k...
by Goodman60
Tue Jun 13, 2017 7:11 am
Forum: Personal Consumer Issues
Topic: Good Digital Tire Gauge
Replies: 21
Views: 1746

Good Digital Tire Gauge

I had a really good digital tire gauge...I think I paid about $50 for it about 15 years ago. It died and I couldn't find the brand...they must have gone out of business. Anyway, I threw it out about 3 months ago and bought a small gauge but now realize I miss my good tire gauge. It had a hose to a r...
by Goodman60
Mon May 29, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Funds For Law School
Replies: 5
Views: 504

Re: 529 Funds For Law School

Congrats to your son! The rules are largely the same as undergraduate in terms of 529-eligible expenses. 1. Health insurance doesn't count as QHEE Thank you. They won't let him enroll unless he has qualified health insurance. So why wouldn't this be a qualified expense, as it's required? m That's p...
by Goodman60
Mon May 29, 2017 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Funds For Law School
Replies: 5
Views: 504

Re: 529 Funds For Law School

mcraepat9 wrote:Congrats to your son!

The rules are largely the same as undergraduate in terms of 529-eligible expenses.

1. Health insurance doesn't count as QHEE


Thank you. They won't let him enroll unless he has qualified health insurance. So why wouldn't this be a qualified expense, as it's required?
by Goodman60
Mon May 29, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Funds For Law School
Replies: 5
Views: 504

529 Funds For Law School

This is a follow up to my prior recent post about using 529 funds for law school or not. There's just shy of $300,000 left in the account after undergraduate. You've all pretty much convinced me to use 529 plan money to pay for my 23 year old son's top 10 law school. He's into one and is wait listed...
by Goodman60
Sun May 21, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1696

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: 1696

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: 1696

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: 1696

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: 1696

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: 1696

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...