Search found 187 matches

by Iridium
Sun Jul 22, 2018 6:24 pm
Forum: Personal Consumer Issues
Topic: High voltage powelines near house
Replies: 45
Views: 2617

Re: High voltage powelines near house

The official line is non-ionizing radiation doesn't cause cancer, but we still wear sunscreen and don't stick our heads in microwaves! You wear sunscreen to protect yourself from ionizing radiation (mostly UV light). You don't stick your head in a microwave to avoid overheating not to avoid cancer.
by Iridium
Sat Jul 21, 2018 1:29 am
Forum: Personal Finance (Not Investing)
Topic: Will my 529 contribution exceed the annual gift tax exemption?
Replies: 9
Views: 613

Re: Will my 529 contribution exceed the annual gift tax exemption?

If you choose to make a split gift, you must file Form 709, and your spouse must consent to the arrangement. I missed that line. Interesting, I could have sworn I had seen other sources that said it did not need to be documented, but just chose that source since TT ought to be most authoritative ou...
by Iridium
Sat Jul 21, 2018 12:54 am
Forum: Personal Consumer Issues
Topic: Anyone else is getting spam mail & phone calls from Global X fund purchased via eTrade?
Replies: 7
Views: 693

Re: Anyone else is getting spam mail & phone calls from Global X fund purchased via eTrade?

I DID NOT give anyone permission to call my work number about it. And they did it not once, not twice, they did it so many times that my coworkers already know these guys. How do you call that if not SPAM? Did you identify yourself and tell them to stop calling that number? Then that would actually...
by Iridium
Fri Jul 20, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Will my 529 contribution exceed the annual gift tax exemption?
Replies: 9
Views: 613

Re: Will my 529 contribution exceed the annual gift tax exemption?

If your spouse is a US citizen and consents, then it is a 'split gift' (see the bottom here https://turbotax.intuit.com/tax-tips/estates/the-gift-tax-made-simple/L5tGWVC8N). No need to do any fancy dance to demonstrate that it came from both of you. Just do the beneficiary transfer of $30K/year in t...
by Iridium
Fri Jul 20, 2018 10:59 pm
Forum: Investing - Help with Personal Investments
Topic: Structured Note
Replies: 16
Views: 1003

Re: Structured Note

Do you have a link to the prospectus? Someone came by with a structured product a few months ago, where the fine print talked about the call built into the note that completely changed the likely payout. I am concerned that what might seem like a fair deal (pay us the 10% you'll make it dividends an...
by Iridium
Fri Jul 20, 2018 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 126
Views: 8573

Re: Should I Dump a Pile of Money on Young Son?

Purpose, please? JT The purpose is to save up to $400,000 in estate taxes. If the inheritance is disclaimed then the gift is made directly from grandparent to grandchild, with stepped up basis and no impact on OP's lifetime exemption. If the inheritance is received by OP and later given (whether in...
by Iridium
Fri Jul 20, 2018 5:37 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 126
Views: 8573

Re: Should I Dump a Pile of Money on Young Son?

OP, you state a concern about estate taxes. To be clear: do you believe that it is likely that your estate will exceed an inflation adjusted $11 Million? Or, are you worried about state taxes? I think that the discussion takes on an interesting extra dimension when this inheritance represents less t...
by Iridium
Fri Jul 20, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Is my umbrella policy over priced?
Replies: 20
Views: 1499

Re: Is my umbrella policy over priced?

BBQ Nut wrote:
Fri Jul 20, 2018 1:28 pm
Is it just age or age *and* place of residence (with us for now)?
The fact that he is a full time student might also be a factor. Once he graduates and moves out, he would no longer be covered by your insurance, so your insurance rates will drop.
by Iridium
Fri Jul 20, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Denied Umbrella Coverage Twice - What now?
Replies: 11
Views: 1393

Re: Denied Umbrella Coverage Twice - What now?

Find an independent insurance agent/broker. Look for someone based in your state who represents many companies or is an actual insurance broker (they aren't appointed by anyone, so they can work with any company). Shop your auto at the same time with the agent/broker as most umbrellas require the au...
by Iridium
Thu Jul 19, 2018 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: Option Puts on SPY [SPDR S&P 500 ETF]
Replies: 8
Views: 560

Re: Option Puts on SPY [SPDR S&P 500 ETF]

There is ALWAYS geopolitical risk. If not here, then in Europe or China or the Middle East. The Fed is ALWAYS up to something. The markets NEVER perform exactly the way they had in the past. Going by the news, it is always a terrible time to invest. Might the market crash by Dec 2020? Maybe. You get...
by Iridium
Thu Jul 19, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Job vs term life insurance
Replies: 6
Views: 399

Re: Job vs term life insurance

- Which the real difference between job and term LI? Just that with term LI you are locked for X years? Just to be clear: you are not locked in with term, the insurance company is locked in. You can cancel term at any time, but the instance company cannot increase your premium or cancel you during ...
by Iridium
Wed Jul 18, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: $500k Term Life- get new policy?
Replies: 14
Views: 790

Re: $500k Term Life- get new policy?

Didn't mean to imply that. However, based on OP's currently expenses, I would expect that the 0.6 is greater than his social security check. His family's finances will not be compromised by his passing in retirement, nor a few years prior.
by Iridium
Wed Jul 18, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Electric/Hybrid Tax Credits
Replies: 14
Views: 962

Re: Electric/Hybrid Tax Credits

I just meant that there are a few tricks to pre-pay taxes. Not all of them are perfectly efficient (think: converting lots of traditional to Roth means you'll end up converting at a higher tax bracket than it is likely you would have paid on withdrawal). However, any trick that saves you a few bucks...
by Iridium
Wed Jul 18, 2018 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: $500k Term Life- get new policy?
Replies: 14
Views: 790

Re: $500k Term Life- get new policy?

I currently am 8 years into a 20 year term policy. At age 50 and with I assume about 10 years to potentially provide some needs for my child, I am wondering if it is a good time to re up a 20 or 15 year term policy. Your current policy will expire when you are 62. Assuming you are planning on retir...
by Iridium
Wed Jul 18, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Electric/Hybrid Tax Credits
Replies: 14
Views: 962

Re: Electric/Hybrid Tax Credits

It would be a shame to have such credits go to waste. Do you have any taxable accounts where you can do some gain harvesting? Any traditional IRAs or 401ks that can be converted to Roths? With a fuller financial picture, we can probably help you figure out ways to use that wasted $3500 to help save ...
by Iridium
Fri Jul 13, 2018 7:55 pm
Forum: Personal Consumer Issues
Topic: Do insurance agents add value? How?
Replies: 24
Views: 1462

Re: Do insurance agents add value? How?

I misspoke. I had thought that a broker by definition was paid by the customer. Whereas the agent is paid by commission. After further research, it appears that both are paid by commission. The difference appears to be more that independent agents are able to take some actions on behalf of the compa...
by Iridium
Fri Jul 13, 2018 7:26 pm
Forum: Personal Consumer Issues
Topic: Do insurance agents add value? How?
Replies: 24
Views: 1462

Re: Do insurance agents add value? How?

I do think an insurance broker may be better. They can get better prices. And the can tell you which companies are best at paying out on claims. Are there any personal lines brokers out there? So far, all I find are agents. Independent agents, sure, but ones without a fiduciary responsibility to me...
by Iridium
Fri Jul 13, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Denied for an auto loan 2 weeks after purchase??
Replies: 39
Views: 4723

Re: Denied for an auto loan 2 weeks after purchase??

Thank you all for the helpful replies so far! This whole process is making me grateful for the fact that we hold onto our cars for a very long time and only have to play this game once every ten years. In the unlikely event that the dealer can't get it straightened out, then the loan will get sold ...
by Iridium
Fri Jul 13, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Do insurance agents add value? How?
Replies: 24
Views: 1462

Re: Do insurance agents add value? How?

I do think an insurance broker may be better. They can get better prices. And the can tell you which companies are best at paying out on claims. Are there any personal lines brokers out there? So far, all I find are agents. Independent agents, sure, but ones without a fiduciary responsibility to me...
by Iridium
Fri Jul 13, 2018 1:05 am
Forum: Personal Finance (Not Investing)
Topic: Denied for an auto loan 2 weeks after purchase??
Replies: 39
Views: 4723

Re: Denied for an auto loan 2 weeks after purchase??

So far we haven't been contacted but the dealer. I assume they're aware the loan was kicked back, and I intend to call them tomorrow. The best scenario seems to me to just walk in there with a check and be done with it, but the dealer is 30 miles away and it would take a few days for me to have tim...
by Iridium
Wed Jul 11, 2018 9:26 pm
Forum: Investing - Theory, News & General
Topic: Question About Interaction Between Buy & Sell Limit Orders
Replies: 5
Views: 395

Re: Question About Interaction Between Buy & Sell Limit Orders

The second order would be referred to as a 'marketable limit order', because it is a limit order, but can be fulfilled immediately. Therefore, for pretty much all intents and purposes, the order is treated like a market order. As the best offer at the time of the second order is $100, it would execu...
by Iridium
Tue Jul 10, 2018 11:47 pm
Forum: Investing - Help with Personal Investments
Topic: Hyperbitcoinization?
Replies: 14
Views: 1367

Re: Hyperbitcoinization?

From the article: Dividing the global value of money 1.8Q It isn't. $1800 trillion is a ridiculously large amount of money to claim. The FED (https://fred.stlouisfed.org/release/tables?rid=21&eid=4488&snid=4472) claims 1.7 Trillion of US currency floating around. Heck, even if you assume that Bitcoi...
by Iridium
Tue Jul 10, 2018 4:07 pm
Forum: Personal Consumer Issues
Topic: Which advanced tech is necessary in cars?
Replies: 86
Views: 4333

Re: Which advanced tech is necessary in cars?

While I believe that airbags provide increased safety and lower death and injury rates - I often winder "how much" vs. everyone always wearing seat/shoulder belts in modern cars. Not much if they're Takata airbags. Never had a seat belt explode in my face. They have almost certainly saved far more ...
by Iridium
Tue Jul 10, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: perpetual home insurance?
Replies: 7
Views: 814

Re: perpetual home insurance?

I also question why this isn't widely available--is it a bad product so no one wants to buy it, or is it an unprofitable product so no one wants to offer it? I would suspect that the vast majority of insurance companies you would want to deal with can borrow money via a traditional bond for less th...
by Iridium
Fri Jul 06, 2018 11:39 pm
Forum: Investing - Theory, News & General
Topic: Building a personal family Bank?
Replies: 6
Views: 1655

Re: Building a personal family Bank?

Sounds like they are mashing two different concepts together: 1. 'Bank on yourself' - The concept is that if you put lots of money into a whole life insurance product, then you can borrow the cash balance. You have to pay interest in the loan, but the funds in the whole life insurance plan also cont...
by Iridium
Mon Jul 02, 2018 2:52 pm
Forum: Investing - Theory, News & General
Topic: Vanguard to offer non-Vanguard ETFs commission-free
Replies: 124
Views: 9408

Re: Vanguard to offer non-Vanguard ETFs commission-free

It'll be interesting to see if DFA funds will be in this list, especially since they're not inverse funds.. but DFA wants to only sell their funds through an advisor. That would be a disruptor if allowed! This new policy only applies to ETFs. DFA does not offer any ETFs and is not likely to do so i...
by Iridium
Mon Jul 02, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Variable Annuity Option(s)
Replies: 14
Views: 1082

Re: Variable Annuity Option(s)

Technically, I do not think anything. However, there is no reason to do it. While Vanguard annuities are cheaper, the cost still adds up. Your best move is probably to just pull the money out of the annuity, but keep it in the IRA, and invest the cash with Vanguard. That would have no tax consequenc...
by Iridium
Sun Jul 01, 2018 6:03 pm
Forum: Investing - Theory, News & General
Topic: What Are S&P 500 Index Options?
Replies: 22
Views: 1845

Re: What Are S&P 500 Index Options?

I've been Googling around trying to answer this question. On the business news they sometimes report the S&P 500 Futures has opened higher or lower. Sometimes I get the impression that they are using it to suggest the future direction of the market. But I see also that contracts can be traded like ...
by Iridium
Sun Jul 01, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Intra-family gift vs. loan
Replies: 6
Views: 619

Re: Intra-family gift vs. loan

My parents have been gifting me money for the past several years. We're now realizing for cashflow/ tax reasons , it'd be helpful for me to give them some money this year and maybe next year. They'll probably continue gifting in a few years. As long as this is within the annual gift exclusion of 2 ...
by Iridium
Sat Jun 30, 2018 4:48 pm
Forum: Investing - Theory, News & General
Topic: Are options, futures good investments?
Replies: 19
Views: 1742

Re: Are options, futures good investments?

Can investors profit long term from stock options, futures and triple leverages? If your desired asset allocation is, say, 130/-30 (as in: you are more than 100% stock), then futures are likely the cheapest way to get that leverage, despite the poor tax efficiency of futures for the purposes of lon...
by Iridium
Tue Jun 26, 2018 2:50 am
Forum: Personal Finance (Not Investing)
Topic: Excess Liability
Replies: 10
Views: 816

Re: Excess Liability

How does this differ from an umbrella policy? Traditionally, excess would only cover where your underlying insurance provides coverage. Umbrella covers some situations not covered by underlying insurance. The most straight forward example would be a car accident in Europe (most auto insurance only ...
by Iridium
Thu Jun 21, 2018 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge best choice for higher net worth accounts?
Replies: 60
Views: 8605

Re: Merrill Edge best choice for higher net worth accounts?

My IRA is with Merrill Edge; chose them for the $900 bonus and the 75% boost in cash back on their credit card. I have never heard from anybody other than a Merrill edge person offering help if I wanted it. Maybe I don't understand something, but I don't see how it would be to their advantage to "l...
by Iridium
Fri Jun 15, 2018 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Deduct volunteer work?
Replies: 4
Views: 419

Re: Deduct volunteer work?

If I or my wife perform work for a charitable organization can we claim that as a donation for tax purposes? If so, what is the typical or acceptable documentation required? You can do even better than deduct it: you simply don't report the time at all on your taxes. Consider how donating money wor...
by Iridium
Sun Jun 10, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need an umbrella insurance policy?
Replies: 16
Views: 2138

Re: Do I need an umbrella insurance policy?

The ISO umbrella policy actually contains a self-insured retention (deductible) option of $500 to $1k. I've seen companies that go as high as $10k. I don't understand why the option exists at all, since since the minimum attachment point is $250k. If you are liable for $240k, then you still pay not...
by Iridium
Fri Jun 08, 2018 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: Overfunding 529
Replies: 25
Views: 2461

Re: Overfunding 529

Yes, it doesn’t work quite as well as outlined above because of the gift tax issue, though the annual gift tax exemption does increase with inflation. Assuming the 529 five year election option remains, one could (for example), take the $225k left in Child A’s 529 and transfer $75k to each of three...
by Iridium
Fri Jun 08, 2018 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: Overfunding 529
Replies: 25
Views: 2461

Re: Overfunding 529

Yes, it doesn’t work quite as well as outlined above because of the gift tax issue, though the annual gift tax exemption does increase with inflation. Assuming the 529 five year election option remains, one could (for example), take the $225k left in Child A’s 529 and transfer $75k to each of three...
by Iridium
Thu Jun 07, 2018 9:21 pm
Forum: Investing - Help with Personal Investments
Topic: Overfunding 529
Replies: 25
Views: 2461

Re: Overfunding 529

- multigeneration educational ‘trust’ can someone explain and point me the links? thanks. I not think trust was meant literally here. More that any money not spent on your kids can be held in your account until your grandchildren go to college. So, it might look something like this: 1. Fund $250K i...
by Iridium
Tue May 22, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 5
Views: 523

Re: Overfunded 529 Plan for future grandchildren

From that page: Generation-skipping transfer taxes do not apply to a beneficiary change unless the new beneficiary is two or more generations below that of the former beneficiary. Since your plan entails transferring from child to grandchild, you do not need to worry about generation skipping tax. M...
by Iridium
Tue May 22, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 5
Views: 523

Re: Overfunded 529 Plan for future grandchildren

Using the 5 year election, you can move $70,000 (inflation adjusted) from your child's 529 to your grandchild, the day s/he is born without federal tax consequences (you did not give your state, so cannot comment on state taxes). Personally, I think fully funding the 529 and not worrying if you end ...
by Iridium
Fri May 11, 2018 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Insurance Needs While Living Abroad
Replies: 7
Views: 750

Re: Help With Insurance Needs While Living Abroad

As golfCaddy says, umbrellas almost always covers outside the United States. A good, independent insurance agent should be able to find such a policy for you, and ensure that it will also cover your concerns with auto liability. An agent will know what lines you need to avoid crossing to ensure the ...
by Iridium
Fri May 11, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 465
Views: 95391

Re: Bank of America Preferred Rewards

I do not think anyone can answer that for you. Fortunately, I do not think it is a hard decision, nor a particularly impactful one. 1) How much 'bonus' do you make per year? a) Would you use different credit cards? In which case, figure out how much the bonus exceeds those cards' value. 2) What is t...
by Iridium
Fri May 04, 2018 12:12 am
Forum: Investing - Theory, News & General
Topic: How does stock buyback benefit investors?
Replies: 78
Views: 6502

Re: How does stock buyback benefit investors?

However, the company will be worth less by the same amount of the cost of stock buyback because it spent its cash. Net result should be neutral. For example, if a company spends 5% of its net worth to buy back stocks, 5% of the market cap in the efficient market, it will be worth 5% less and the nu...
by Iridium
Mon Apr 23, 2018 7:01 pm
Forum: Investing - Help with Personal Investments
Topic: Computershare Transfer Question
Replies: 10
Views: 1234

Re: Computershare Transfer Question

I transferred some shares to Vanguard from a transfer agent (forget if it was ComputerShare or E-Trade). When I had Vanguard pull the shares, the transfer got stuck somehow. When I had the transfer agent push the shares, it was a piece of cake and happened quite easily. The normal advice on this for...
by Iridium
Thu Apr 12, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Use of personal vehicle for employer, reimbursement at IRS rate -- good idea?
Replies: 7
Views: 425

Re: Use of personal vehicle for employer, reimbursement at IRS rate -- good idea?

Even if they are not covering those miles, the insurance company uses odometer readings to determine miles traveled, so I would not expect a discount on insurance for those miles. :?: :?: :?: A discount on insurance? I would be concerned that you would not be covered for an accident that occurred w...
by Iridium
Thu Apr 12, 2018 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Use of personal vehicle for employer, reimbursement at IRS rate -- good idea?
Replies: 7
Views: 425

Re: Use of personal vehicle for employer, reimbursement at IRS rate -- good idea?

Does your insurance cover you when you are driving for work purposes? I would think not. Even if they are not covering those miles, the insurance company uses odometer readings to determine miles traveled, so I would not expect a discount on insurance for those miles. OP, I do not think you'll be a...
by Iridium
Fri Apr 06, 2018 3:47 am
Forum: Personal Consumer Issues
Topic: What is the rationale for coinsurance?
Replies: 10
Views: 1209

Re: What is the rationale for coinsurance?

I'll approach it from a bit of an unconventional direction. Insurance companies charge coinsurance because they don't ask you how much your house is worth. Intuitively, what do you think costs more, knowing nothing else about the place, other than that the land value and the protective devices (i.e....
by Iridium
Thu Apr 05, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Would a lender refi parent's house (limited income but lots of equity)?
Replies: 9
Views: 1469

Re: Would a lender refi parent's house (limited income but lots of equity)?

Ask about recasting it; perhaps that would lower the monthly amount due... It is my understanding that recasting requires a large, one-time lump sum payment toward the mortgage. Unless the children were willing to pay it, where would the parents get the lump sum? Not my understanding....if they're ...
by Iridium
Thu Mar 29, 2018 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Excess Liability Insurance - Umbrella Insurance
Replies: 55
Views: 4259

Re: Personal Excess Liability Insurance - Umbrella Insurance

What is the dilemma? If the plaintiff is willing to settle and their lawyer is half way competent, then whether or not it goes to trial does not impact you. All the cases I saw of bad faith cases not working, the plaintiff did not make a clear settlement offer within limits. If you end up with the ...
by Iridium
Thu Mar 29, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Excess Liability Insurance - Umbrella Insurance
Replies: 55
Views: 4259

Re: Personal Excess Liability Insurance - Umbrella Insurance

It doesn't answer your question about monetary incentives, though. If you carry a $25k state minimum auto policy, the insurance company has an incentive to settle for $30k instead of being exposed to an $8 million bad faith claim. If you carry a $4 million umbrella, the insurance company would only...
by Iridium
Thu Mar 29, 2018 2:19 pm
Forum: Investing - Theory, News & General
Topic: What is the endgame for Millennials?
Replies: 128
Views: 9863

Re: What is the endgame for Millennials?

Looking at the report, the end game for millennials is that they find full time, stable employment. 90% of millennials who were eligible to participate did. The top reason they were not eligible was that their employer did not offer a plan (effects all generations nearly equally), were part time, or...