Search found 821 matches

by NotWhoYouThink
Sun Apr 30, 2017 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparents helping with College tuition
Replies: 27
Views: 1671

Re: Grandparents helping with College tuition

Your help may interfere with financial aid, but not necessarily. Relatively few students get significant financial aid in the form of grants. If they are outstanding students and are accepted to the best colleges, and their parents' income is not too high, then they might be eligible for a lot of ai...
by NotWhoYouThink
Sun Apr 30, 2017 1:14 pm
Forum: Personal Consumer Issues
Topic: Buy condo now, or wait a few years and then enter CCRC?
Replies: 16
Views: 971

Re: Buy condo now, or wait a few years and then enter CCRC?

I second the recommendation to skip the first move and go to the CCRC. If you are healthy and independent when you move in, you can still get out and about the town and away from all the old people now and then. My mom is 91 and still likes to get out several times a week to see different sights an ...
by NotWhoYouThink
Sun Apr 30, 2017 10:27 am
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3465

Re: If you pay a high AMT, would you take out $1M mortgage?

I have a hard time swallowing someone whose family income is almost 4 times as much as mine complaining about taxes which are 1/3 of what I pay . Clearly you have no idea what you are talking about. re-read the OP and if you don't understand google AMT. I have already done that after a previous res...
by NotWhoYouThink
Sat Apr 29, 2017 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparents helping with College tuition
Replies: 27
Views: 1671

Re: Grandparents helping with College tuition

We would like to help with college tuition for our grandkids. We can afford to do it without jeopardizing our retirement or lifestyle and would like to have a stake in their college experience. Can you be more specific about your financial commitment? You want to pay the full cost of any college th...
by NotWhoYouThink
Sat Apr 29, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Recent windfall... Insurance questions (Whole, Term, Disability)
Replies: 25
Views: 1169

Re: Recent windfall... Insurance questions (Whole, Term, Disability)

Thank everyone else as well for your comments and advice. We will be canceling our whole and term life policies ASAP. Wait, why would you cancel the term? You are off to a great start, but if something happens to you tomorrow your family would not be able to continue their current lifestyle. They'd...
by NotWhoYouThink
Sat Apr 29, 2017 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparents helping with College tuition
Replies: 27
Views: 1671

Re: Grandparents helping with College tuition

You could consider setting up separate accounts as POD to your grandchildren or their parents, then using these accounts to fund college. If you die, the remainder goes to the intended recipient separate from your other accounts which would be allocated according to your will or trusts. That also wo...
by NotWhoYouThink
Sat Apr 29, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Recent windfall... Insurance questions (Whole, Term, Disability)
Replies: 25
Views: 1169

Re: Recent windfall... Insurance questions (Whole, Term, Disability)

7. Any kind of life insurance on my child would have made my skin crawl when signing it, much less in the unimaginable and horrific situation of cashing it. The very thought of it makes me queesy.

+1
by NotWhoYouThink
Thu Apr 27, 2017 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Thrivent Financial
Replies: 12
Views: 759

Re: Thrivent Financial

The best plan is for her to cancel the meeting because she "doesn't do business with friends." Which is pretty good policy. The last thing I need is for a guy I don't know well but see every week at church to know the details of my income and investments. If she goes to the meeting, one of...
by NotWhoYouThink
Thu Apr 27, 2017 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3465

Re: If you pay a high AMT, would you take out $1M mortgage?

I wouldn't want pay more in extra interest than I saved in taxes. Do you do your own taxes? If so, you can model what your tax bill would be with the higher interest payment, and see whether you save enough to make it worthwhile. If not, buy a tax program and enter the same data your tax preparer di...
by NotWhoYouThink
Thu Apr 27, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 18807

Re: Any regrets living a frugal life for high income/high networth individuals?

I think the usual definitions are - Within your means - spending it as you make it Beyond your means - spending it before you make it Below your means - not spending it all, saving some for later I'm all for living well and enjoying life now instead of waiting for a future date, after which I can st...
by NotWhoYouThink
Thu Apr 27, 2017 7:52 am
Forum: Personal Consumer Issues
Topic: Boglehead Ideas for College Graduation Gifts
Replies: 14
Views: 1049

Re: Boglehead Ideas for College Graduation Gifts

Gifts for your own kids? Your nieces and nephews? Your former cat sitter?

Same answer, adjust quantity as needed. Money. That's what they need.
by NotWhoYouThink
Tue Apr 25, 2017 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Deferred Annuity
Replies: 7
Views: 717

Re: Deferred Annuity

Is the annuity in an IRA or in a taxable account? What is the exact name of the annuity? When did they buy it? In general, annuities tend to have high fees and other undesirable features that would make people on this board discourage you from buying one. But if your parents have already bought it, ...
by NotWhoYouThink
Tue Apr 25, 2017 4:30 pm
Forum: Investing - Theory, News & General
Topic: Portfolio growth - Edward Jones vs Vanguard Target 2045
Replies: 14
Views: 1610

Re: Portfolio growth - Edward Jones vs Vanguard Target 2045

Does her advisor have authority to buy and sell in her account? How often has that been done? Is this the portfolio that she has had for the past 5 years, or has there been some trading going on? Sometimes advisors will sell what's in the portfolio and buy what's been doing well lately. So any time ...
by NotWhoYouThink
Tue Apr 25, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 8486

Re: Why is Real-Estate so Bad?

Is there anyway to estimate what kind of dividend payment I should be receiving Quartarly based on that chart and the amount I have invested? Do you need dividends? Or are you looking for a way to compare your non-RE investment to your relatives' recommended investment in RE? Exactly. Just from cru...
by NotWhoYouThink
Tue Apr 25, 2017 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 80
Views: 7289

Re: Helping adult children

I have 4 kids but two are still in college. I have paid for all their college educations, very generously compared to actual needs of a college student. But the eldest works, her husband works (a Vice President in a medium sized company) and they have 3 kids. Good jobs; but they always seem to have...
by NotWhoYouThink
Tue Apr 25, 2017 7:04 am
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 12880

Re: Advice needed for mother's inheritance/finances.

An IRA inherited from a spouse can be combined with her own IRA to make things simpler.
by NotWhoYouThink
Mon Apr 24, 2017 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 8486

Re: Why is Real-Estate so Bad?

Another thought on this. Real estate is great for people who love to tinker, can't stop themselves from tinkering, and are convinced that their tinkering is the secret sauce that leads to their success. Passively managed index funds are great for people who trust the market to work its magic even wh...
by NotWhoYouThink
Mon Apr 24, 2017 8:43 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 8486

Re: Why is Real-Estate so Bad?

Real estate doesn't have to be "bad" for stocks to be "good." Each will have pros and cons. Real estate has rent and (potential) capital appreciation. Stocks have dividends and (potential) capital appreciation. It's easier and cheaper for anyone with a keyboard and an internet co...
by NotWhoYouThink
Sun Apr 23, 2017 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: [Should I get an advisor?]
Replies: 14
Views: 1036

Re: [Should I get an advisor?]

Maybe. There is a lot of good information on the wiki, and a lot of good advice to be had on this site. You should educate yourself here enough to know whether any advisor you get is giving you good advice. Post your data, read the responses, think about the answers to the questions you get, ask a f...
by NotWhoYouThink
Sat Apr 22, 2017 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1122

Re: Irrevocable Trust

Back to the original question - why does the death of one sibling make a difference? It sounds like the 4 are not all on site farming the land now. Is there some provision for one or more siblings to live on or manage the land, with the others sharing in the profits, if any? Sounds like something th...
by NotWhoYouThink
Sat Apr 22, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1122

Re: Irrevocable Trust

Not everything is about laws and entitlements. Can't she ask?
by NotWhoYouThink
Sat Apr 22, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: IRS refund today!
Replies: 43
Views: 3381

Re: IRS refund today!

The state won't admit it has my paper return yet, although the USPS tracking data says that they received it on the 18th. Because of state tax credits, we 1) have to file by paper 2) get a refund. And because the executor of FIL's estate wasn't sure until last week that we wouldn't get any K-1s from...
by NotWhoYouThink
Fri Apr 21, 2017 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Grandparent's Variable Annuity and Edward Jones
Replies: 9
Views: 1545

Re: Grandparent's Variable Annuity and Edward Jones

Even if your grandparents have made a foolish investing decision, what good would it do at this point to tell them that? Are they willing to break their relationship with this advisor and do the research to convince themselves that they should go somewhere else? Are they so cognitively unaware that ...
by NotWhoYouThink
Fri Apr 21, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Transfer on Death question
Replies: 22
Views: 2669

Re: Transfer on Death question

Interesting link from a similar thread. http://info.legalzoom.com/can-power-attorney-change-beneficiaries-bank-accounts-21711.html On the one hand, changing TOD or beneficiary designations can undo what someone carefully put in place in their estate plans. On the other hand, many people are sloppy i...
by NotWhoYouThink
Thu Apr 20, 2017 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Wife's Money - 50K - Her Advisor vs My DIY - Help
Replies: 67
Views: 5601

Re: Wife's Money - 50K - Her Advisor vs My DIY - Help

Yes, we have a appointment with Vanguard end of this month. They are backed up. Most of the reviews we saw on VPS is Vanguard advisor will be very cookie-cutter (which may satisfy us anyway) but will not be a CFP and will not review our insurances etc - not comprehensive planning, will not review o...
by NotWhoYouThink
Wed Apr 19, 2017 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Advisor's Calculations Accurate re: VFINX v their Fund?
Replies: 13
Views: 1109

Re: Financial Advisor's Calculations Accurate re: VFINX v their Fund?

The advisor can probably also accurately predict the outcome of the 2000-2016 World Series, Stanley cup, Super Bowl, presidential election...... If you had bet based on these predictions, you would have scads of money now. This is nothing special. Anyone can go back through historical data and pick ...
by NotWhoYouThink
Wed Apr 19, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Why do I owe so much on my taxes?
Replies: 32
Views: 3895

Re: Why do I owe so much on my taxes?

dbltrbl wrote:Make sure in 2017 you pay at least 90% of taxes you paid in 2016 or you may have to penalty on top of tax due when you file your 2017 taxes.


Actually, that's 100% of your total tax bill for 2016, or 90% of your total tax bill for 2017, whichever is less.
by NotWhoYouThink
Wed Apr 19, 2017 8:06 am
Forum: Investing - Help with Personal Investments
Topic: Wife's Money - 50K - Her Advisor vs My DIY - Help
Replies: 67
Views: 5601

Re: Wife's Money - 50K - Her Advisor vs My DIY - Help

From your previous posts, Folks, Thanks again to everyone on this wonderful forum. Today, I've opned my first Vanguard account - VPAS - Personal Avisory account - they said they offer comprehensive financial plan on 30 bps on 50K. I' recently also open Schwab SIA (Intelligent Asvise) account with fi...
by NotWhoYouThink
Wed Apr 19, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4363

Re: How to Avoid Tax Refund Being Seized

You need to understand all the components of the debt, what is in collections and why, and what it will take to pay it off. In other words, you need a plan. Hoping FIL pays and trying to avoid tax refunds is not a plan, it's a way to keep your head in the sand.
by NotWhoYouThink
Tue Apr 18, 2017 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Why do I owe so much on my taxes?
Replies: 32
Views: 3895

Re: Why do I owe so much on my taxes?

You had to pay tax when you filed this year because we have a graduated income tax. Your income is cut into slices, with the first dollar not getting taxed at all, and additional dollars getting taxed at higher rates, up to 39.6% if you are lucky enough to have a high income. Each company withholds ...
by NotWhoYouThink
Tue Apr 18, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax preparer charging for past tax PDF's copies
Replies: 49
Views: 3416

Re: Tax preparer charging for past tax PDF's copies

To be fair, strictly in terms of time, the amendment probably cost $300. But sometimes in business, I think it's important to consider the implications of something so minor. See the forest for the trees and all that. If you are going to nickel & dime me to death, you better make sure you are t...
by NotWhoYouThink
Tue Apr 18, 2017 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 12880

Re: Too much inheritance to handle. Advice needed

OP, you refer to this as "our money" - was some left to you and some to your mother, or was it all left to her and you are helping her? Also, keep in mind, you came to this "financial advisor" and asked for his help. He made the recommendations he is trained and incentivized to m...
by NotWhoYouThink
Tue Apr 18, 2017 8:08 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy parents home and rent back to them?
Replies: 8
Views: 1491

Re: Should I buy parents home and rent back to them?

All kinds of red flags here. You don't live near her, you have siblings, she may be living above her means if she has a lien on the property and can't pay off the loan. She may not be able to live independently the rest of her life. If you own the home and are renting it back to her, what happens wh...
by NotWhoYouThink
Tue Apr 18, 2017 7:50 am
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 11012

Re: My kids don't care about saving

Accept that you can't change anyone but yourself. Once you do that, you can start enjoying the people that they are, instead of getting frustrated with them because they are not the people you wish they were. That doesn't mean don't tell them about saving and compound interest, but you've already do...
by NotWhoYouThink
Tue Apr 18, 2017 7:43 am
Forum: Investing - Help with Personal Investments
Topic: Wife's Money - 50K - Her Advisor vs My DIY - Help
Replies: 67
Views: 5601

Re: Wife's Money - 50K - Her Advisor vs My DIY - Help

We are going back to this Advisor next week and I'm going to propose this AA(60:40 with the following Funds) and let's see what the Advisor says ? I'll join the chorus about not going back to the advisor. He is a salesman, he is not a marriage counselor or an objective analyst. Would you go to the ...
by NotWhoYouThink
Mon Apr 17, 2017 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: Real estate rate of return?
Replies: 34
Views: 3120

Re: Real estate rate of return?

What is your tax rate? Will this be taxed as ordinary income for federal and state purposes? How would you be taxed if you put the money into tax advantaged accounts, or even an after tax account? How will the apartment affect the resale value of the property? Is this something people are willing to...
by NotWhoYouThink
Fri Apr 14, 2017 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Latest Time You Can File Electronically
Replies: 3
Views: 342

Re: Latest Time You Can File Electronically

What does Turbo Tax say about meeting the filing deadline? In practice, I would file at least a day early, just in case a server outage delays official acceptance by the IRS. When I owe, I always tell the IRS to take the money on the last day. It won't matter if a server outage slows this down, as l...
by NotWhoYouThink
Fri Apr 14, 2017 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for College Question
Replies: 5
Views: 577

Re: Paying for College Question

There is less need based financial aid out there than people think, and it is almost never a good idea to distort your financial plan to attempt to qualify for it. Your relative needs a plan to support herself through retiiirement first. Then she and the kids can figure out whether to go to college ...
by NotWhoYouThink
Tue Apr 11, 2017 3:26 pm
Forum: Personal Consumer Issues
Topic: Misguided by Pension Department- ?Legal Need?
Replies: 32
Views: 2962

Re: Misguided by Pension Department- ?Legal Need?

Let's not assume anything. Did you recieve the specifics on the plan or benefit?
by NotWhoYouThink
Tue Apr 11, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Extreme Frugality vs Living Life - Where do you draw the line?
Replies: 77
Views: 8430

Re: Extreme Frugality vs Living Life - Where do you draw the line?

2. My Uncle - Lived extremely frugally, is retired, has a net worth of more than 100 times his annual expenses but wouldn't let my aunt spend money on domestic help or other things that would be 'luxury' in his eyes but would add comfort. Wouldn't buy a flight ticket and drive for vacations etc. Wo...
by NotWhoYouThink
Tue Apr 11, 2017 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Breaking up with my Financial Advisor
Replies: 37
Views: 2465

Re: Breaking up with my Financial Investor

If you hate confrontation then don't initiate one. Talk to Vanguard, or wherever you are moving your funds to. They can handle the rest. If you want, you can send your current advisor an email, but it is not necessary. It is not necessary to accept a call from him, you can let it go to voice mail. T...
by NotWhoYouThink
Sun Apr 09, 2017 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Require Access to School Records?
Replies: 100
Views: 4107

Re: Require Access to School Records?

Thanks, Nate! That sounds very reasonable to me. Maybe I like it because it is so "old school." Perhaps I give her the choice of whether or not to sign the authorization- she would have to give me the info either way, but if I can sign in, I can help her with deadline reminders, etc. For ...
by NotWhoYouThink
Sat Apr 08, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 3507

Re: Telling Family About Daughters 529 For Gifts

Just for clarification, I wasn't suggesting that you had any obligation to pay now or ever for your grandson's college. Just that if you haven't paid for it, his parents have to assume that you won't, and that if anyone is going to save his college costs it has to be them. And the likely place for t...
by NotWhoYouThink
Sat Apr 08, 2017 2:54 pm
Forum: Personal Consumer Issues
Topic: Extended CAR Warranty
Replies: 32
Views: 1637

Re: Extended CAR Warranty

Everyone prepares to negotiate on the price of the car, but that's the easy part. The highest paid guy at the dealership is the one that was trying to sell you an extended warranty while preparing the paperwork for you to sign. It's frustrating, because you can skip the face to face negotiations wit...
by NotWhoYouThink
Fri Apr 07, 2017 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 3507

Re: Telling Family About Daughters 529 For Gifts

I can sympathize with the desire not to fill the house with clutter. My in-laws were local and bought a little more at Christmas than I would have liked, but in general we were lucky enough not to have truckloads of stuff coming our way on birthdays and holidays. Gift-giving isn't a big thing on eit...
by NotWhoYouThink
Fri Apr 07, 2017 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 44
Views: 3177

Re: Will vs Living Trust

I would be interested in bsteiner's answer, but for the vast majority of us it is hard to believe the privacy matters. Unless you are a celebrity, who is going to be interested enough in your will to look it up? The creditors of your heirs? Not just the deceased, but the heirs' names are available ...
by NotWhoYouThink
Fri Apr 07, 2017 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 3507

Re: Telling Family About Daughters 529 For Gifts

I'd bring it up once in a casual conversation and then let it go depending on their response. It also depends on financial situations of the various family members. Timing of this thread is interesting because our only Grandchild is just past two and our daughter told us a 3-4 months ago that she's...
by NotWhoYouThink
Fri Apr 07, 2017 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 3507

Re: Telling Family About Daughters 529 For Gifts

Sounds like the consensus is you can mention it once, but don't expect it to change your family's behavior much. After that, smile and prepare to pack up the toys for donation. And when you give thing to the kids in your family, make sure they take forever to assemble and have lots of decals and sti...
by NotWhoYouThink
Fri Apr 07, 2017 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding shafting my local merchants with card fees
Replies: 42
Views: 4087

Re: Avoiding shafting my local merchants with card fees

The only time I worry about fees is when I make big donations to charities. Almost all of them will accept credit cards, but I can't stand knowing that 2-3% of my donation went to the bank instead of the charity, even if I do get some cash back. So I write checks. Sometimes a business will not take ...
by NotWhoYouThink
Wed Apr 05, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: High Income earners, whats your Tax Strategy?
Replies: 113
Views: 10313

Re: High Income earners, whats your Tax Strategy?

Some company health insurance plans offer an HSA option. Ours lowers our co-pay and contributes to the HSA if we select that option.

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