Search found 68 matches

by Mlm
Sun Apr 30, 2017 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Does Retirement Planning impact your job performance?
Replies: 43
Views: 2381

Re: Does Retirement Planning impact your job performance?

I am starting to feel very blessed. I planned to retire at 63.5 when I would have reached my savings goal. I was blindsided two years early due to a company sale and I had absolutely no warning. Yeah, I cried for about five minutes and than realized my current numbers would work. I smiled on my way ...
by Mlm
Sun Apr 30, 2017 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security options for those born after 01/01/1954
Replies: 17
Views: 1201

Re: Social Security options for those born after 01/01/1954

I want to be sure I understand the options for a couple claiming SS when both were born after Jan. 1, 1954. Note that the monthly benefits (which are rounded) below may seem high, but they are for a few years in the future. Spouse1 will have a monthly benefit at FRA (age 66) of $2200 based in own r...
by Mlm
Thu Apr 20, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4844

Re: Did I make a good decision to retire July 2017 instead of July 2018?

sil2017 wrote: How would I calculate the pension?


If it were me I would use the pension in today's dollars. The 2% should keep up with inflation over time.

Best wishes on your retirement. Enjoy
by Mlm
Thu Apr 20, 2017 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4844

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Based on my information given in post one, what am I able to spend monthly? If you have $570K and pay off the mortgage and HELOC that leave about $525K to draw from unless you pull equity from the house. At 56 I would assume a 35 to 40 year draw down. Look for a success rate of at least 95% You can...
by Mlm
Wed Apr 19, 2017 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Adult child lack of availability at tax time.
Replies: 24
Views: 1937

Re: Adult child lack of availability at tax time.

Behavior has consequences. That is a major life lesson that parents need to teach their children. Apparently, he has not learned this so far so this is an excellent teaching opportunity. Send him his 1099's with a note that you filed an extension and he has until October 15th to file. Then you are ...
by Mlm
Wed Apr 19, 2017 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Re: Bill received after Estate is closed

afan wrote:
SimonJester wrote:Is there any chance the attorney had billed you earlier and you missed it?


No chance and the Associate Attorney called to inform me that a bill had not been previously generated.

Mary
by Mlm
Wed Apr 19, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Re: Bill received after Estate is closed

I would call the attorney and tell him you just receive a bill against your fathers estate after probate was closed. Tell them you would like them to draft a letter to the company explaining probate is closed and their claim is denied. When he asked who the company is provide the lawyers name. The ...
by Mlm
Wed Apr 19, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Re: Bill received after Estate is closed

I found this information on settling small estates in New York: http://nycourts.gov/courthelp//WhenSomeoneDies/smallEstate.shtml Note: “If the Decedent owned real property, like a house or land, in their name alone then it's not a small estate anymore.” If your mother’s estate was truly considered ...
by Mlm
Wed Apr 19, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Re: Bill received after Estate is closed

It is possible the associate messed up and is billing you now without the attorney's knowledge. I think that professionals like doctors and lawyers frequently do not know every little detail of what is going on in the billing office. I'd try to find out if the attorney even knows about the bill bef...
by Mlm
Wed Apr 19, 2017 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Re: Bill received after Estate is closed

OP here Thanks for the ideas. I have had a long relationship with the owner of this small law office and in the past he has done some small work for me without charge. I gave him a lot of business (over 100K per year for 25 years) for the company I used to work for. I don't want to stiff him but his...
by Mlm
Wed Apr 19, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 5023

Bill received after Estate is closed

I am the Executor of my late mother's Estate. Most of her accounts were POD so there was very little that was the responsibility of the Estate. I hired my Attorney (no contract signed) to help with the court paperwork. It was a small Estate in New York State (under 30K) An Associate in his office ha...
by Mlm
Tue Apr 18, 2017 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Did anything surprise you in your 2016 taxes?
Replies: 82
Views: 6506

Re: Did anything surprise you in your 2016 taxes?

Small but nice surprise. I prepaid my fourth quarter real estate taxes to get the federal deduction. This unexpectedly threw me over the standard decuction on my State taxes which is something I have never been able to take advantage of before. $97 bucks :moneybag
by Mlm
Sun Apr 09, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: [Tax] software asks driver license number
Replies: 15
Views: 1380

Re: [Tax] software asks driver license number

The part that upset me was having to rely on a magnifying glass to red my license :annoyed
by Mlm
Thu Mar 30, 2017 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Divorcing and handling shared and split assets after divorce
Replies: 55
Views: 3313

Re: Divorcing and handling shared and split assets after divorce

" I will pay her maintenance/alimony to cover her expenses and I will pay all of the joint expenses involving our living spaces and our children until she gains an income of her own. " That is a very open ended statement. How do you legally define an income of her own? :oops: I have been ...
by Mlm
Wed Mar 29, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Problem e-filing return (deceased primary)
Replies: 24
Views: 2768

Re: Problem e-filing return (deceased primary)

I had the same problem with Tax Act trying to file for my deceased mother. I gave up and sent paper returns.
by Mlm
Mon Mar 27, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: NYS medicaid Pre 65 - no asset test?
Replies: 17
Views: 1038

Re: NYS medicaid Pre 65 - no asset test?

Yes, what you are being told is correct. There is no asset test in NY.
by Mlm
Fri Mar 17, 2017 7:29 pm
Forum: Personal Consumer Issues
Topic: Looking for a snazzy car
Replies: 79
Views: 4577

Re: Looking for a snazzy car

I have a Mazda 3 5 door touring and I love it. If it were not for the large amounts of snow I get I would drive the Mazda Miata in a heart beat.
Zoom Zoom
by Mlm
Fri Mar 17, 2017 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: help deciphering Social Security code annotations
Replies: 13
Views: 798

Re: help deciphering Social Security code annotations

I checked my mothers bank records. She started collecting at 65 on her own account and began collecting an additional survivors benefit when my father passed away. Her bank records are indeed coded with an "A". So it appears that SS does not change the code when the additional benefit is a...
by Mlm
Wed Mar 15, 2017 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement - what to do about healthcare?
Replies: 101
Views: 10756

Re: Early Retirement - what to do about healthcare?

Everyone I know who retired early either worked for a government entity or a mega corp that offered retiree health coverage.
The rest live off of after tax savings and qualify for ACA subsidies.
by Mlm
Wed Mar 08, 2017 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Are we ready to buy a house? What should our price range be?
Replies: 56
Views: 4107

Re: Are we ready to buy a house? What should our price range be?

How about a trial run? Set aside the cash for the projected extra expenses and see how life treats you. Would your wife agree to that?
by Mlm
Tue Mar 07, 2017 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Final expenses, such as cremation, etc.
Replies: 7
Views: 687

Re: Final expenses, such as cremation, etc.

My mother set up a prepaid burial account and changed her checking account to a joint account with me. She also had beneficiaries on her investment and IRA accounts. There was very little that had to pass through her estate.
by Mlm
Fri Feb 24, 2017 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Points After Death
Replies: 15
Views: 1150

Re: Credit Card Points After Death

When my mother passed away I informed her credit card company (Chase). Four months later her Estate received a check for her credit card reward points.
by Mlm
Tue Feb 21, 2017 11:36 am
Forum: Personal Consumer Issues
Topic: Do you replace your electrical switches/outlets or use an electrician?
Replies: 93
Views: 5734

Re: Do you replace your electrical switches/outlets or use an electrician?

I replaced most of the switches and outlets in my house myself after I turned off the main power. I did run into a problem when I replaced a two-way switch with a one way switch, there is a difference :oops: I had to call en electrician to fix that mistake. I have also replaced the thermostat and ga...
by Mlm
Sat Feb 18, 2017 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: How to Split $10K Fed Tax Bill Between Husband and Wife
Replies: 38
Views: 2264

Re: How to Split $10K Fed Tax Bill Between Husband and Wife

How have you calculated your individual tax liability for the past 25 years? Has something changed?
by Mlm
Sat Feb 11, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Late father appears not to have taken RMDs
Replies: 34
Views: 3940

Re: Late father appears not to have taken RMDs

This happened to someone I knew and it was caught by her financial adviser when she was 80. No RMD's had been taken for 10 years :shock: The adviser calculated the amount of the missing RMD's and took them all in the current year to bring her up to date. No amended tax returns or penalties were file...
by Mlm
Wed Feb 08, 2017 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Life estate at death
Replies: 20
Views: 1941

Re: Life estate at death

I researched this for someone about 3 years ago. The answer was unclear. Spoke to half a dozen enrolled agents and CPA's. They all said that since ownership of the property was gifted, the stepped up basis was forfeited. The way it worked for my family was that the children received the parents bas...
by Mlm
Thu Feb 02, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Contesting a will or trust
Replies: 31
Views: 1626

Re: Contesting a will or trust

What would be the reason for contesting?
by Mlm
Mon Jan 30, 2017 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct Donation Assistant
Replies: 13
Views: 2235

Re: TaxAct Donation Assistant

Here is what I did. I opened a new account "plus" and started a return for 2015. When I went to the donation assistant it made me upgrade to "premium" :annoyed I entered all of my donations and printed them out for backup. Then I went to my real account and entered the total for ...
by Mlm
Mon Jan 30, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy for Purchasing a House
Replies: 21
Views: 2517

Re: Strategy for Purchasing a House

The numbers just don't work unless you suspend retirement contributions.
by Mlm
Mon Jan 30, 2017 11:59 am
Forum: Personal Finance (Not Investing)
Topic: seeking advice - need to advise newly widowed mother in deep debt
Replies: 46
Views: 4278

Re: seeking advice - need to advise newly widowed mother in deep debt

OP, I'm sorry for your and your mothers loss. Although this will be a big hit to her net worth I think that she should just pay off her debt and move on. You are not going to be able to hide life insurance proceeds from the courts. Cut up the credit cards and take a good look at how the $50K was wra...
by Mlm
Thu Jan 19, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Billing Disagreement - Stark Law
Replies: 95
Views: 5779

Re: Medical Billing Disagreement - Stark Law

I like my Doctor and I hope he likes having me as a patient. I have been with him for over 25 years. If it were me I would call his office and ask them to have the Dr. call me personally when he has a moment. I would let him know in a professional manner that while I was surprised that I was billed ...
by Mlm
Thu Jan 05, 2017 7:21 pm
Forum: Investing - Help with Personal Investments
Topic: 500K milestone celebration
Replies: 74
Views: 7460

Re: 500K milestone celebration

Congratulations - well done :sharebeer
by Mlm
Thu Dec 29, 2016 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Anything I can do to reduce my taxes for 2016 or future?
Replies: 24
Views: 2910

Re: Anything I can do to reduce my taxes for 2016 or future?

Next year I won't be able to itemize so I just paid the portion of my property taxes that are due in January 2017 today. I also made a donation that I normally make in the spring today.
by Mlm
Wed Dec 28, 2016 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Help Parents Again?
Replies: 63
Views: 4867

Re: Help Parents Again?

My parents are in a tough financial situation, and unfortunately - they made some very poor financial decisions. Let's just say that they spent more than they should have when times we're good. They have $175,000 mortgage left on a condo in which they would like to retire. So they made a mistake, i...
by Mlm
Wed Dec 28, 2016 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Monthly Expenses in line or too much
Replies: 81
Views: 7370

Re: Monthly Expenses in line or too much

, but when you see somebody like Lindrobe saying that their expenses are around 1K per month , it raises questions in one's mind as to if they have a secret sauce that others don't :-) . I doubt that you are comparing apples to apples. I don't see any expenses for clothing, auto gas, auto maintenan...
by Mlm
Tue Dec 27, 2016 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Monthly Expenses in line or too much
Replies: 81
Views: 7370

Re: Monthly Expenses in line or too much

Your expenses sound high for a middle class lifestyle.
Your expenses sound low for an upper middle class lifestyle.
by Mlm
Sun Dec 11, 2016 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: What's an Account Valuation Report for?
Replies: 6
Views: 430

Re: What's an Account Valuation Report for?

Maybe it could be used for a date of death valuation for estate purposes since it allows you to use a previous date,
by Mlm
Tue Nov 29, 2016 11:57 am
Forum: Investing - Help with Personal Investments
Topic: Preliminary capital gains estimate
Replies: 10
Views: 1010

Re: Preliminary capital gains estimate

chestnut wrote:Could you please explain why they are so high for 2015? Do funds have drastic change in capital gains estimate from year to year? Thanks!


This a good article from Morningstar that might help:
http://news.morningstar.com/articlenet/ ... ?id=715686
by Mlm
Tue Nov 22, 2016 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 142
Views: 17908

Re: TaxAct pre-purchase discount

LadyGeek wrote:Check your TaxAct login account, which tracks your online orders.

Been there done that. I can't locate that information. Any clues are appreciated.
by Mlm
Tue Nov 22, 2016 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 142
Views: 17908

Re: TaxAct pre-purchase discount

I received an email from Tax Act today
"Forget Cyber Monday - You already locked in your low price! "

I am sure that I locked in when I filed 2015 but i have no idea at what price. Guess I will have to wait and see.
by Mlm
Fri Nov 18, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 142
Views: 17908

Re: TaxAct pre-purchase discount

Blues wrote:Respectfully, Mary, I believe that $25 is the additional charge for adding a state return to your federal return.

:shock: :shock: :shock: I'm shocked
by Mlm
Fri Nov 18, 2016 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 142
Views: 17908

Re: TaxAct pre-purchase discount

$43 ($18 Federal / $25 State) hardly seems a bargain considering that it's over three times what I paid for the combined product last year. Hopefully that won't be the "low price" I locked in six months ago or I'll be searching for a more competitive priced product...assuming there is one...
by Mlm
Sat Nov 12, 2016 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Any ways to make employer health insurance "unaffordable"?
Replies: 11
Views: 2240

Re: Ways to make employer health insurance "unaffordable"

When your employer determined that you were eligible did they notify you and did you sign a waiver of insurance?
by Mlm
Sat Nov 05, 2016 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Frustrated with Health Insurance Premiums for 2017
Replies: 79
Views: 7029

Re: Frustrated with Health Insurance Premiums for 2017

I'm right there with you in your frustration. My parents are getting close to Medicare but not there yet, and their premiums, for the 2 of them, will be $1,200/mo next year. For bronze plans. Prior to the ACA several of my friends that were preMedicare paid $1,400 per month. So $1,200 for 2 of them...
by Mlm
Sat Nov 05, 2016 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: ACA income shuffle
Replies: 33
Views: 4063

Re: ACA income shuffle

Since the Essential Plan is not an actual insurance policy and no subsidies are involved what would happen if your income was $30,000 unexpectedly? I think nothing would happen. There is no reconciliation of subsidy and nothing to pay back. Jim, I asked that question of the Navigator I spoke to. I ...

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