Search found 238 matches

by Goodman60
Sun Jan 21, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Immediate Annuities For The Chronically Ill
Replies: 1
Views: 268

Immediate Annuities For The Chronically Ill

I seem to recall, a long time ago, reading about immediate annuities for people with chronic illness. Who have a less-than-usual life expectancy. The payout is higher because the annuitant isn't expected to live as long as someone their age in decent health. Do these things still exist and where can...
by Goodman60
Sun Jan 21, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Re: Credit For Defaulter

Watty wrote:
Sun Jan 21, 2018 12:35 am
Before she buys the car she should also get quotes for car insurance. Your credit score is one of the factors that they use for pricing car insurance so it could cost more than she is expecting.
An excellent point I had not thought about. Thank you, Watty!
by Goodman60
Sat Jan 20, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Re: Credit For Defaulter

dm200 wrote:
Sat Jan 20, 2018 3:52 pm

Dealers do not lend money - they find lenders that will make loans to buyers.
Of course that's the case. Figure of speech.
by Goodman60
Sat Jan 20, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Re: Credit For Defaulter

You've talked a whole lot about what you want. What does your niece want? Does she want a new car and all the new debt you're "helping" her get? Niece wants a reliable car to get to and from gainful employment. She should be financially fine within a few years. Yes, this is exactly "kicking the can...
by Goodman60
Sat Jan 20, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Re: Credit For Defaulter

My niece recently got divorced and had a short-sale of her former home (with her husband). The first mortgage was fully satisfied but the second mortgage was defaulted upon, with agreement by the lender for the short sale. Anyway, I would like to help my niece get a new car. Perhaps a new Corolla o...
by Goodman60
Sat Jan 20, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Re: Credit For Defaulter

TomatoTomahto wrote:
Sat Jan 20, 2018 2:54 pm
Good luck with your caveats. I’m preparing the popcorn.

ETA: I have no directly applicable experience.
:beer
by Goodman60
Sat Jan 20, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 991

Credit For Defaulter

My niece recently got divorced and had a short-sale of her former home (with her husband). The first mortgage was fully satisfied but the second mortgage (not small) was defaulted upon, with agreement by the lender, for the short sale. Anyway, I would like to help my niece get a new car (the old car...
by Goodman60
Wed Jan 17, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plans As Estate Planning Tool
Replies: 1
Views: 343

529 Plans As Estate Planning Tool

I realize that, at least until 2025, an even smaller group of people will be subject to Federal Estate Tax. And after that, under the recently enacted current law, it will still be a small group. That being said, it seems that 529 Plans could be a really good way to legally hedge Federal Estate Tax ...
by Goodman60
Tue Dec 12, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Bypass Trust Without Dying
Replies: 7
Views: 1326

Re: Bypass Trust Without Dying

I am the OP and am reviving this thread. What about this: Say a wealthy widow wants to trust up assets that will eventually go to her kids, but retain the right to the income from the trust. Back in 2012, for instance, there was concern that the estate tax exemption would fall from $5M to $1M. (I th...
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: 177

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: 2870

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: 87
Views: 7054

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 355
Views: 42324

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: 1697

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: 1697

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: 1697

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: 1697

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: 1697

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: 1697

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: 355
Views: 42324

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: 1697

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: 2666

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: 2666

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: 2666

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: 29
Views: 3491

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: 16549

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: 1014

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: 7085

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: 1285

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: 16549

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: 2778

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: 1028

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: 29
Views: 3491

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 reply cycle ...
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: 29
Views: 3491

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" letter soon.
by Goodman60
Thu Jun 15, 2017 2:01 pm
Forum: Personal Consumer Issues
Topic: Good Digital Tire Gauge
Replies: 21
Views: 2520

Re: Good Digital Tire Gauge

This is not digital, but is the best tire gage I've had. https://www.amazon.com/Joes-Racing-32307-Pressure-Gauge/dp/B00404WDUC/ref=sr_1_1?ie=UTF8&qid=1497357365&sr=8-1&keywords=joe%27s+tire+gauge OK, I gave up on digital and bought this. It arrived today and seems very good. Thank you so much for t...
by Goodman60
Wed Jun 14, 2017 8:03 pm
Forum: Personal Consumer Issues
Topic: Getting a Florida Sunpass
Replies: 14
Views: 1996

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: 1996

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: 1996

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: 2520

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...