Search found 117 matches

by Goodman60
Fri Sep 30, 2016 5:49 am
Forum: Personal Finance (Not Investing)
Topic: Step Up Basis into Credit Shelter Trust
Replies: 6
Views: 482

Re: Step Up Basis into Credit Shelter Trust

While my original question still remains unanswered, the prior responses have me wondering about this: Does the "no step up basis to spouse if transferred within 1 year of death rule" apply to JWTROS (jointly held assets too? Say Sue has $1M in a her own account. Sue gets a fatal diagnosis...
by Goodman60
Thu Sep 29, 2016 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Step Up Basis into Credit Shelter Trust
Replies: 6
Views: 482

Re: Step Up Basis into Credit Shelter Trust

Excellent point about the joint assets. But I'd still like to know the answer to the original question
by Goodman60
Thu Sep 29, 2016 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Step Up Basis into Credit Shelter Trust
Replies: 6
Views: 482

Re: Step Up Basis into Credit Shelter Trust

Of course anyone with that size estate needs legal counsel. Nevertheless, I'm trying to understand how this would work, Seems at conflict that Sue's assets can qualify to use up all or part of her estate tax exemption into the trust, yet not qualify for the step up in basis. And it seems at conflict...
by Goodman60
Thu Sep 29, 2016 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Step Up Basis into Credit Shelter Trust
Replies: 6
Views: 482

Step Up Basis into Credit Shelter Trust

It's my understanding that assets gifted to a spouse within a year of the gift receiver's death do not get the stepped up basis if the gift giving spouse is the heir. In other words, the IRS gets it that some couples might game the stepped up basis if one spouse knows he or she has a terminal illnes...
by Goodman60
Fri Sep 23, 2016 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Family Residence Into Credit Shelter Trust
Replies: 4
Views: 333

Re: Family Residence Into Credit Shelter Trust

I am learning more and more about Credit Shelter Trusts ("Bypass Trusts"). I am wondering about this. Let's say that the wife owns the family residence in her Revocable Living Trust. She dies first and her trust directs the creation of a Credit Shelter Trust for the benefit of her widower...
by Goodman60
Fri Sep 23, 2016 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Family Residence Into Credit Shelter Trust
Replies: 4
Views: 333

Family Residence Into Credit Shelter Trust

I am learning more and more about Credit Shelter Trusts ("Bypass Trusts"). I am wondering about this. Let's say that the wife owns the family residence in her Revocable Living Trust. She dies first and her trust directs the creation of a Credit Shelter Trust for the benefit of her widower....
by Goodman60
Sun Sep 18, 2016 1:37 pm
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 1746

Re: Popping Gas Water Heater

I called the local Mister Waterheater franchisee and they installed the updated version of the same Bradford White 50 gallon/fast recovery gas unit that they installed for me in 2005. It was fine (until now) the whole time. They were quick, clean and priced competitively.
by Goodman60
Sat Sep 17, 2016 5:28 pm
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 1746

Re: Popping Gas Water Heater

Flushing the tank didn't work so I had it replaced today. Thank you all for a good discussion that led me to that decision. :D
by Goodman60
Fri Sep 16, 2016 5:46 am
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 1746

Re: Popping Gas Water Heater

Dee Stroir wrote:Does it pop all the time, or only when the burner is on and exhausted gas is going out of the vent?


Not all the time. Yes when the burner is on and just after while the water is still maximum hot.
by Goodman60
Fri Sep 16, 2016 5:46 am
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 1746

Re: Popping Gas Water Heater

TimeRunner wrote:Have you drained a bucket or two out of the bottom? Doing that will help.


Should I do this or maybe even should I drain the whole tank?
by Goodman60
Thu Sep 15, 2016 7:28 pm
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 1746

Popping Gas Water Heater

My gas water heater (11 years old) makes popping sounds. I read on the internet that this is calcium deposits boiling inside and that there isn't much you can do besides replace the heater. Before I do that...and I'm really not too bent out of shape replacing an 11 year old water heater...can anyone...
by Goodman60
Thu Sep 15, 2016 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Who Pays The State Inheritance Tax
Replies: 6
Views: 866

Re: Who Pays The State Inheritance Tax

Got it. Thank you.
by Goodman60
Thu Sep 15, 2016 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Who Pays The State Inheritance Tax
Replies: 6
Views: 866

Re: Who Pays The State Inheritance Tax

delamer wrote:There is no inheritance tax due until the kids inherit.


Bruce Steiner, the post just above, says this is not necessarily the case. Where did you get this information?
by Goodman60
Thu Sep 15, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: What is a Qualifying Widow(er)?
Replies: 2
Views: 235

What is a Qualifying Widow(er)?

What is a "Qualifying Widow(er)" for income tax purposes? Can a widow or widower, with a 23 year old "child" in graduate school, who is still a dependent, qualify?
by Goodman60
Thu Sep 15, 2016 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Who Pays The State Inheritance Tax
Replies: 6
Views: 866

Who Pays The State Inheritance Tax

Because I live in Pennsylvania, I am wondering who pays the state inheritance tax in this situation. Husband and wife each have $5.4Million. Wife dies and leaves her $5.4M to a Bypass Trust for her husband then adult kids. It's my understanding that PA will tax that at 4.5%. Who pays it? The estate ...
by Goodman60
Fri Sep 09, 2016 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card After Death
Replies: 23
Views: 2440

Credit Card After Death

What happens to a credit card after death? My wife has a Chase Sapphire Preferred card in her name only and I am an authorized user. We mainly use that card to rent cars, since it's the only non-American Express card that we know of that provides primary rental car coverage. We pay the balance month...
by Goodman60
Thu Aug 25, 2016 1:52 am
Forum: Personal Consumer Issues
Topic: Qualifying for SS Disability
Replies: 16
Views: 1859

Re: Qualifying for SS Disability

Is there a downside? YES! if the person dies before you even file, then no one get's the money that that person earned through their SS tax payments. Applying is not that much of a hassle. Especially not for such a clear cut case This makes no sense to me. Please explain. If the person becomes disa...
by Goodman60
Wed Aug 24, 2016 5:20 am
Forum: Personal Consumer Issues
Topic: Qualifying for SS Disability
Replies: 16
Views: 1859

Re: Qualifying for SS Disability

Update and additional question: The family member in question has now been given an updated diagnosis and prognosis. Sadly, the brain tumor is much more aggressive than originally thought. The prognosis is 6-9 months...maybe a year...without treatment and maybe 15 months with treatment. Probably the...
by Goodman60
Sun Aug 21, 2016 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Bypass Trust Without Dying
Replies: 4
Views: 805

Bypass Trust Without Dying

It is legally acceptable to establish a trust, like a bypass trust, without dying? Let's say a wealthy Boglehead investor, single/not married, has accumulated $8M dollars in Vanguard index funds. He or she is concerned that the current $5.4M (approx) estate tax exemption might, eventually, change to...
by Goodman60
Wed Aug 10, 2016 10:53 am
Forum: Personal Consumer Issues
Topic: Qualifying for SS Disability
Replies: 16
Views: 1859

Re: Qualifying for SS Disability

I've just gone through something similar this last year. Here are some things that I learned: - You can start a claim over the phone just as easily as in person. - Basically anyone can start the application for SSDI, but after that, they will only talk to the actual person, unless you become a &quo...
by Goodman60
Wed Aug 10, 2016 10:50 am
Forum: Personal Consumer Issues
Topic: Qualifying for SS Disability
Replies: 16
Views: 1859

Re: Qualifying for SS Disability

Depending on all the facts and circumstances (including the state of residence), a person with such a disability may qualify for SSI (means tested) and/or Medicaid. I all can get very confusing. SSDI (Social Security Disability) is NOT means tested, not is Medicare. SSI and Medicaid are means teste...
by Goodman60
Wed Aug 10, 2016 7:59 am
Forum: Personal Consumer Issues
Topic: Qualifying for SS Disability
Replies: 16
Views: 1859

Qualifying for SS Disability

A family member was just diagnosed with an inoperable brain tumor and is definitely unable to work. The prognosis is that this person, age 54, might live 3-5 years with treatment. I've looked online about SS Disability and can't really find easy access to answers to these questions. Mostly I find la...
by Goodman60
Mon Jan 18, 2016 5:49 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

Please review the above posts. I don't have exact amount/percentages in exact funds with a complete history going back 18 years. And it did fluctuate (lower bond durations, less stock allocation, some REIT) over time. That's the best I can tell you, honestly.
by Goodman60
Thu Jan 14, 2016 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

I did some sniffing into the Wellington Fund. I see that it's 65/35. Am I correct that it SHOULD have a higher return than my 60/40 (original) and now 52/48 (was 55/45 for a long time) allocation? In other words, for the level of sort-intermediate term risk I am willing to accept, did I not do simil...
by Goodman60
Thu Jan 14, 2016 12:17 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

The above chart is useful. On the one hand, I guess I am doing much better than the average investor. At least from the statistics that I hear. On the other hand, I could have just bought Wellington and been done with it. But I only know that in hindsight. And my returns have been very tax efficient...
by Goodman60
Wed Jan 13, 2016 5:42 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

I prettied up one of my rough spreadsheets... This is quite valuable to me. Thank you. I never knew about the GEOMEAN function, but have now adjusted my own spreadsheet accordingly and get the numbers you come up with. Did you by any chance download the spreadsheet? And if so, were you able to run ...
by Goodman60
Wed Jan 13, 2016 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

How did you keep a 60% stock portfolio from only going down 1.73% in 2001 and 3.67% in 2002? The Total Stock market lost 15% and 22% respectively in 2001,2. Likewise how did you get your 60/40 portfolio to go up 20.62% in 2009 when the total stock index only went up 28%? Also I note that Vanguard R...
by Goodman60
Wed Jan 13, 2016 4:42 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

I prettied up one of my rough spreadsheets and made it compatible with Google's online spreadsheet package and added a bunch of comments showing how to build a table for irregular returns, which can then use the GEOMEAN() function to calculate the CAGR (Compound Annual Growth Rate) for a lump sum; ...
by Goodman60
Wed Jan 13, 2016 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

How Am I Doing? 18 Years of Data Postby Goodman60 ┬╗ Thu Jan 07, 2016 12:06 pm could you share your portfolios with us very interesting and want to learn from you Basically it's Vanguard Total Market on the equity side and short term Vanguard muni bond funds on the fixed income side. Early on I was ...
by Goodman60
Tue Jan 12, 2016 10:06 am
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

Re: How Am I Doing? 18 Years of Data

OP back again. This thread was very helpful for me. First, I learned that I have been incorrectly calculating my average annual returns. Unfortunately that means I did about half a percent worse than what I originally thought. Still, I'm close to 6% over roughly a "generation" where inflat...
by Goodman60
Thu Jan 07, 2016 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6009

How Am I Doing? 18 Years of Data

OK, how am I doing? In 1997, I finally understood that you can't time markets and pick stocks. Since then, I've had an indexed (mostly Vanguard) portfolio that was originally 60/40 and is now 52/48. I'm 56 years old and will let it drift as low as 50/50 if markets and new money make that happen. In ...
by Goodman60
Sat Dec 05, 2015 7:42 am
Forum: Personal Consumer Issues
Topic: Satellite Radio for a Car Not Specifically Wired
Replies: 15
Views: 1668

Re: Satellite Radio for a Car Not Specifically Wired

By the way, what is the current "deal" with them for service? I just got a bill for $204 each for 2 cars for 1 year of service. $408 for a year for 2 cars. Last year I got the same big bill and seem to recall that I called and got them down by about half. Do I wait and let the service expi...
by Goodman60
Fri Dec 04, 2015 11:51 pm
Forum: Personal Consumer Issues
Topic: Satellite Radio for a Car Not Specifically Wired
Replies: 15
Views: 1668

Re: Satellite Radio for a Car Not Specifically Wired

Would the phone option be a data hog?
by Goodman60
Fri Dec 04, 2015 5:48 pm
Forum: Personal Consumer Issues
Topic: Satellite Radio for a Car Not Specifically Wired
Replies: 15
Views: 1668

Satellite Radio for a Car Not Specifically Wired

I am interested in adding satellite radio to my 2014 Toyota Corolla. The car is obviously set up for it. Perhaps there is a Toyota plug in that would make it seem "factory ready". And if not, what might be some common "after market/stereo shop" options/cost?
by Goodman60
Mon Aug 31, 2015 11:58 am
Forum: Personal Consumer Issues
Topic: How Do You Find Employment Today?
Replies: 20
Views: 2969

How Do You Find Employment Today?

My wife worked for 10 years doing inside sales at a major big-box retailer. The pay was low but the family health insurance was key for us and the hours were good. She won many accolades for being the best salesperson in the region etc. Granted, it was all rah-rah with no real benefit other than con...
by Goodman60
Fri Mar 06, 2015 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

I think you have received more than a fair share of unpleasantness today, but I also think your daughter has already decided (even unconsciously) that she is not interested in a pre-nup. If she did have an interest, she would probably have asked you directly about it. I fear that you will be sorry ...
by Goodman60
Fri Mar 06, 2015 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

For clarification, as I stated above, the engagement has not happened yet, although the said they are looking at rings. It's gonna happen this summer. But has not happened yet.
by Goodman60
Fri Mar 06, 2015 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

Basically that's not true. I would probably have this issue with most. I admit that I should have become more focused on this earlier. And I admit that if it appeared that she was marrying someone who stood to lose more than she, I might not be as concerned. But it's not a personal thing, just look...
by Goodman60
Fri Mar 06, 2015 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

It's hard to argue that's unfair to either party in today's world. "In today's world". Yeah. It's not your father's Mad Men or Leave it to Beaver world. As a longtime reader of Bogleheads, it's very surprising to me that a very frank discussion of such a huge financial risk is still somew...
by Goodman60
Fri Mar 06, 2015 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

Except a prenup accomplishes none of those things. You've been told that repeatedly, but continue to ignore it. I don't know your fixation with prenups; but they are the wrong tool for the job, provided you don't want to protect assets already in your daughter's name. Future earnings and inheritanc...
by Goodman60
Fri Mar 06, 2015 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

The OP is looking for a constructive advice; not for cheerleading, reprimand, or an opinion poll. The OP's family has a much greater wealth, the OP's daughter has a much higher income, and he understandably wants to protect the family wealth and the daughter's well-being. The future son-in-law bein...
by Goodman60
Fri Mar 06, 2015 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: To the OP - a question

To the OP: Is there a reason you are refusing to consider dealing with this via trusts, while you do indeed still control the money? There seems to be an ongoing issue here with some sort of insisting upon working on daughter to get a pre-nup, and presumably a pre-nup that meets with your approval....
by Goodman60
Fri Mar 06, 2015 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

Thank you so much! Exactly! +100 on the last sentence especially. (I am the OP) It sounds like you came here with your mind already made up. Perhaps your spouse has a different opinion and you are looking for justification for your side of the argument. From your last few comments, I just don't fee...
by Goodman60
Fri Mar 06, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

Have the discussion and let her decide. I wish someone was there to suggest a prenup when I was her age. Yes! Also to all the posters who say, there isn't any reason to do this now since they don't have that much ..... Ummm have you thought that things might change during the next decade or two of ...
by Goodman60
Fri Mar 06, 2015 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

If there is any risk of your daughter taking the advice as "you doesn't trust my decisions or believe my marriage will work," then no, you should not say anything. No, there is not much risk of this. And we will convey that it's not that we think that something is wrong with the pending m...
by Goodman60
Fri Mar 06, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

I find it disturbing that any parent believes they do or should have that kind of control over their adult children. You need to recognize your role in the relationship. She's 25, let her make her own decisions. You can make suggestions but I'd caution that unsolicited advice can often be received ...
by Goodman60
Fri Mar 06, 2015 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

FRANK2009 wrote:Have the discussion and let her decide. I wish someone was there to suggest a prenup when I was her age.


That. (I am the original poster)
by Goodman60
Fri Mar 06, 2015 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

Another reason why so many single guys my age despise the idea of marriage. Too many daughters raised by parents like you. (I am the OP). I used to be a single guy your age. It's funny how, after 30 years of risking and sacrificing to accumulate wealth, perspective on how that wealth gets utilized ...
by Goodman60
Fri Mar 06, 2015 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

tibbitts wrote:
It doesn't sound like she or her kids are going to be destitute no matter what happens.


I see that as Irrelevant. I won't be destitute either if I lose half my wealth, but that's no reason to take an enormous risk of doing just that (losing half).
by Goodman60
Fri Mar 06, 2015 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 9985

Re: Does My Daughter Need A Prenup?

ShowMeTheER wrote:It sounds to me like your daughter is capable of making the decision on her own without pressure or prompting.


I guess the bigger question is whether it really is HER decision or OUR (including wife and) decision.

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