Search found 94 matches

by OnTrack2020
Fri Oct 13, 2017 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Need help with family financial situation - sheltering money / medicaid
Replies: 22
Views: 2082

Re: Need help with family financial situation - sheltering money / medicaid

Hmmm, we had something a little similar, but not quite. My mother went into a nursing home at age 61. My father went to see an attorney and did, I believe, a plain division of assets. There was no legal separation or filing of divorce. There was just a division of the assets on paper. However, my fa...
by OnTrack2020
Thu Oct 12, 2017 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Think I goofed on a recent HSA transaction
Replies: 5
Views: 602

Re: Think I goofed on a recent HSA transaction

I've been through this before, only ours was a flexible spending account, with the FSA debit card. The same thing happened with my dentist a few times. You pay what they think you will owe, only to find out that you owe less. What the insurance company told me to do (and it really is pretty easy) is...
by OnTrack2020
Sun Oct 08, 2017 7:30 am
Forum: Investing - Help with Personal Investments
Topic: Third time in my 32 year career I have been laid off
Replies: 87
Views: 9997

Re: Third time in my 32 year career I have been laid off

I do not understand this post/thread at all. The OP has real estate valued at over $1m, plus $1.6m in investments. I'd figure out a way to sell both properties (not in the same year), move to a LCOL area. Either buy a nice condo/small house or rent and enjoy life. In a LCOL area, you can buy a nice ...
by OnTrack2020
Fri Oct 06, 2017 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Negotiating merit scholarships
Replies: 32
Views: 1969

Re: Negotiating merit scholarships

My question is, is the $35,000 scholarship strictly for the academics, or is that money an academic and extracurricular scholarship? If it's strictly academic, then did your nephew participate in any extracurriculars in school that the U of A might give him additional monies for.
by OnTrack2020
Thu Sep 28, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Lost my job and looking for advice on next steps
Replies: 43
Views: 5190

Re: Lost my job and looking for advice on next steps

My husband and I are roughly the same age as you and your wife. We also have one son with 2.5 years left of private college (along with 3 other teens). I think the first thing to do is take a look at health insurance and what you will do after the 4-month period ends? Will you be able to purchase CO...
by OnTrack2020
Sat Sep 23, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard college calculator and some questions
Replies: 16
Views: 889

Re: Vanguard college calculator and some questions

I have been using this Vanguard calculator to get an idea where I am in terms of Saving for my kids college : https://vanguard.wealthmsi.com/csp.php# Is tuition increase really 5% per year like calculator defaults to? Looks like I’ll be paying 350k for tuition and board for my 13year old daughter f...
by OnTrack2020
Fri Sep 22, 2017 7:35 am
Forum: Personal Consumer Issues
Topic: Bank Employees - comfort level of getting a loan through employer?
Replies: 9
Views: 701

Re: Bank Employees - comfort level of getting a loan through employer?

About the only thing "new" I can think of would be if you provide them tax returns, they would see your dividend income, IRA deduction if traditional IRA, etc. My husband is not a bank employee, but never felt quite comfortable with providing all of that information at his company credit union, so w...
by OnTrack2020
Tue Sep 19, 2017 7:18 pm
Forum: Investing - Help with Personal Investments
Topic: Take The Lump Sum or The Immediate Annuity?
Replies: 34
Views: 3175

Re: Take The Lump Sum or The Immediate Annuity?

My husband was in this position late last year. He is not yet 60 years of age. We chose to do a lump sum rollover. Bottom line----we wanted to manage it ourselves, and we wanted to be able to leave some to our children. I am quite impressed with the numbers the poster who invested conservatively ove...
by OnTrack2020
Mon Sep 11, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do 20 or 25 Year Term Life Insurance?
Replies: 49
Views: 3465

Re: Should I do 20 or 25 Year Term Life Insurance?

We bought insurance around your age---our son was under 1-year old at the time. We bought a 15-year level term policy. We didn't insure for remotely close to what you are, but rather around $100k-$200k. We figured that our child/children would be working part-time in their teens or otherwise be clos...
by OnTrack2020
Wed Sep 06, 2017 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: how often does high ACT score == scholarship?
Replies: 85
Views: 4883

Re: how often does high ACT score == scholarship?

Our son, now a college sophomore, received a 27 (3 times) on the ACT. His GPA was fairly high. He was offered $1,000 from our in-state flagship university. He was offered $80,000 in renewable scholarships ($20k per year) from a private school. He eventually chose the private. Whether private or publ...
by OnTrack2020
Wed Sep 06, 2017 8:32 am
Forum: Investing - Help with Personal Investments
Topic: Question re: additional pension interest
Replies: 1
Views: 234

Question re: additional pension interest

My husband received a lump sum pension amount late last year and we rolled it over into an IRA. There were pre-tax and post-tax monies, so some of the amount went into a Roth and some into a traditional IRA (we set up 4 accounts within the tIRA). My husband received a notice last week that after the...
by OnTrack2020
Thu Aug 31, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Spinning off 23 Year Old Son (Car)
Replies: 17
Views: 1327

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 OnTrack2020
Thu Aug 31, 2017 3:17 pm
Forum: Personal Consumer Issues
Topic: Hurricane Harvey relief?
Replies: 42
Views: 3190

Re: Hurricane Harvey relief?

I will also give a 2nd mention to Operation BBQ Relief. They first got started providing meals after a tornado. I think that's when we first gave to them; but I can't seem to remember how we first heard about them. They provide meals for dislocated individuals and the first responders when these typ...
by OnTrack2020
Wed Aug 30, 2017 11:03 am
Forum: Investing - Help with Personal Investments
Topic: Concerns about under/over funding 529
Replies: 16
Views: 1421

Re: Concerns about under/over funding 529

This is really hard to plan for. We have all of ours in taxable. Do I wish we'd done 529s? I don't know...I don't think so. Our kids are all over the place in terms of college "ability." We have one attending a private university. For him, I wish we would have saved more, but we are managing. With s...
by OnTrack2020
Tue Aug 29, 2017 8:03 am
Forum: Investing - Help with Personal Investments
Topic: Relative angry I will not co-sign
Replies: 90
Views: 8176

Re: Relative angry I will not co-sign

It seems that this is a fairly substantial amount if they are asking you to co-sign for a house, or you couldn't afford the home on your own. If he were to default in any way, you'd be on the hook. If you co-sign and he doesn't pay his income taxes, and a lien is placed on the house by the IRS, you ...
by OnTrack2020
Tue Aug 29, 2017 6:08 am
Forum: Investing - Help with Personal Investments
Topic: Relative angry I will not co-sign
Replies: 90
Views: 8176

Re: Relative angry I will not co-sign

How much was he asking for?
by OnTrack2020
Sun Aug 27, 2017 9:34 pm
Forum: Personal Consumer Issues
Topic: Stay or not - natural disaster
Replies: 16
Views: 1798

Re: Stay or not - natural disaster

I am so surprised that residents weren't asked to evacuate. Not so much due to the hurricane itself, but due to the absolutely astounding amount of rain that was being predicted in areas. When we get 4 or 5 inches of rain, it is a lot of rain, but 24 inches!!!.......I can't even imagine staying arou...
by OnTrack2020
Wed Aug 23, 2017 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Sharing information with insurance agents.
Replies: 18
Views: 1456

Re: Sharing information with insurance agents.

NotWhoYouThink wrote:
Wed Aug 23, 2017 7:11 am
If they don't know your assets, how do they know how much whole life they can sell you?
Why would one purchase whole life??
by OnTrack2020
Wed Aug 23, 2017 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Sharing information with insurance agents.
Replies: 18
Views: 1456

Re: Sharing information with insurance agents.

I do believe disability insurance is based upon what income you are currently making, so I would assume in order to ever pay out on a policy, they would need to know how much you are making. For instance, if a policy was to replace 75% of your income, they would need to know your income. I'm a SAHM ...
by OnTrack2020
Wed Aug 23, 2017 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Paying for college with 529 money
Replies: 14
Views: 1036

Re: Paying for college with 529 money

I would say that it's dependent on a variety of factors. You obviously know that you can pay 100% for community college. If the child transfers to a 4-year or even starts at a 4-year state school, you can pretty much pay tuition, room, and board. What does your son want to do? And how long would it ...
by OnTrack2020
Wed Aug 16, 2017 7:08 pm
Forum: Personal Consumer Issues
Topic: Is $9000 too much for a sectional sofa ?
Replies: 130
Views: 8573

Re: Is $9000 too much for a sectional sofa ?

We bought a "sectional" - 2 pieces - well over a decade ago. It was custom-ordered and I chose very heavy-duty fabric. Today, it still looks great! Through all the years where our kids were small, now college age, that sectional has held up great. It is downstairs in our family room, and the kids no...
by OnTrack2020
Wed Aug 16, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio
Replies: 45
Views: 9598

Re: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio

Wow, that is certainly not good news; however, you have options due to the amount of dollars you have on hand. Personally and only if you and your husband are feeling up to it, would I downsize. That is a lot to take on right now, especially with a young child and one on the way. It may be best to s...
by OnTrack2020
Wed Aug 16, 2017 5:09 am
Forum: Personal Consumer Issues
Topic: Best Housing To Avoid Noise
Replies: 57
Views: 5025

Re: Best Housing To Avoid Noise

A house in the country on many acres away from a main highway.
by OnTrack2020
Mon Aug 14, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to buy a car is not excessive?
Replies: 48
Views: 3718

Re: What % of income to buy a car is not excessive?

A better question would be what percent of your net worth to spend on a car. At least to me when you are looking at is as a percent of income it implies that you would be getting a car loan. When I was starting out I had car loans so there is nothing inherently wrong with them but if you have to ge...
by OnTrack2020
Mon Aug 14, 2017 7:57 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to buy a car is not excessive?
Replies: 48
Views: 3718

Re: What % of income to buy a car is not excessive?

I never knew there was a % tied to buying a car. Have only heard it for houses. However, the 3 months for a car and 3 years for a house sounds pretty much spot on. If you are looking for a Toyota, they have some good deals. We were going to finance (yes, bad word) a vehicle from our local bank, but ...
by OnTrack2020
Mon Aug 14, 2017 7:24 am
Forum: Personal Consumer Issues
Topic: Adult Teens and Auto Insurance
Replies: 1
Views: 283

Adult Teens and Auto Insurance

Our son would like to buy a newer truck at some point within 6 months or so. During this time, he will turn 19. If he buys a vehicle and registers it in his name, would he also put the insurance in his name, or would he still be listed under our auto insurance? I do believe our insurance agent menti...
by OnTrack2020
Fri Aug 11, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: "Upper Middle" Class - ditch WLI or ride it?
Replies: 34
Views: 6591

Re: "Upper Middle" Class - ditch WLI or ride it?

No husband or children yet, plus your savings covers your debt on your car....there really is no reason for it. We purchased term life insurance once we were married and had children. Also, once the insurance served its purpose (15 years later), we didn't need it any more.
by OnTrack2020
Thu Aug 10, 2017 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house as a student
Replies: 27
Views: 1460

Re: Buying a house as a student

Is pharmacy school that inexpensive where you can pay for tuition and a mortgage with $70k?
by OnTrack2020
Thu Aug 10, 2017 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling with Justifying an Expensive Car Purchase
Replies: 120
Views: 6405

Re: Struggling with Justifying an Expensive Car Purchase

You have not mentioned what vehicles you are thinking about?
by OnTrack2020
Wed Aug 09, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 17419

Re: Life at crossroads. What would you do ?

Oh, for goodness sake, do not move to Fargo! The winters are brutal. With that being said, google "Silicon Prairie Cities" and it will give you an indication of what's available in tech within the Midwest. Living in a low-cost area will get you: House - $24k per year, easily if not a little high Uti...
by OnTrack2020
Tue Aug 08, 2017 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 17419

Re: Life at crossroads. What would you do ?

For starters, with $2M, I'd move to an area with a much LCOL--meaning I would stay away from the states along the coasts. You have time now to research places/job hunt while your wife continues to work. Your expenses would pretty much be cut in half if you moved to the middle of the country. And, pe...
by OnTrack2020
Tue Aug 08, 2017 11:49 am
Forum: Investing - Help with Personal Investments
Topic: Question re: Exchanging tIRA funds in Vanguard
Replies: 2
Views: 214

Question re: Exchanging tIRA funds in Vanguard

Hi, I recently transferred a tIRA to VG from Franklin-Templeton (all after-tax money). It went into a traditional IRA brokerage account at VG, and shows as holding F-T funds. Now, I'm wanting to exchange the F-T funds into VG funds within the tIRA . When I go to do the exchange at VG, it will only a...
by OnTrack2020
Sun Aug 06, 2017 11:16 pm
Forum: Investing - Help with Personal Investments
Topic: A plan that might work for two goals?
Replies: 11
Views: 1347

Re: A plan that might work for two goals?

We have an adopted daughter who struggles with the language, so I'm aware of what you are talking about, and we also have a son who is going to study graphic design this Fall, and I'm also quite aware of the "not so good" job prospects in the area where we live. I think it is very hard to come into ...
by OnTrack2020
Sun Aug 06, 2017 10:17 pm
Forum: Personal Consumer Issues
Topic: Help me pick a car
Replies: 54
Views: 4388

Re: Help me pick a car

Toyota Corolla. They are very dependable and have pretty good size trunk space. We bought a "new" one yesterday--if 2016 can be considered new--the basic model. This will be our 3rd Corolla and our 5th Toyota. It was $15.5k out the door, had 20 miles on it. The Grand Cherokee will not have that grea...
by OnTrack2020
Tue Aug 01, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

Is there any way to increase household income? When funds are tight and you need something dependable and reliable, a used well-maintained Corolla is about as good as it gets. Not at this point in time. Credit cards have been paid off and will now save for an old Corolla. I'll echo the concern over...
by OnTrack2020
Mon Jul 31, 2017 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

Assuming you have a low 18% interest rate on those credit cards you are paying $2,500/yr! How can you afford this debt! You likely could have bought a car on the interest you paid already. Get a cash car for $2-3k and put the rest of the money to pay off cc debt. If the car breaks or your daughter ...
by OnTrack2020
Mon Jul 31, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

Does the college have zip car? My son used this for a year before we got a cheap car for his summer job. Can the high school kids take a school bus? I would think that the kids should have summer jobs right now. My son has one and when he gets paid, 100% goes to my checking account so I can put it ...
by OnTrack2020
Mon Jul 31, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

You haven't given us your whole picture, but it sure doesn't sound like your in a position to afford a new car. A used one isn't going to help the cc debt. Have you called the school to see about transportation? Sounds fishy that there is none. If anyone needs to get around at school, Uber is going...
by OnTrack2020
Sun Jul 30, 2017 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

Make the kids buy their own cars. Many colleges, rural or suburban run shuttles or have similar services. A car is really not necessary at college especially with your financial situation. Show your kids the responsible choice. Buying a new truck makes zero sense. Low 100K miles on a Toyota truck? ...
by OnTrack2020
Sun Jul 30, 2017 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Re: Need Help on Vehicle Situation/Another Car Purchase Question

PFInterest wrote:I'm sorry. I stopped at 14K CC debt.
I know, I know :oops: .....I'm thinking I should take the $8k and $7k and just pay it off. Then deal with the car situation.
by OnTrack2020
Sun Jul 30, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help on Vehicle Situation/Another Car Purchase Question
Replies: 20
Views: 1615

Need Help on Vehicle Situation/Another Car Purchase Question

Background: We have 4 teens (1 will not be driving for another 2 years, more than likely). We live in an area where there is no access to public transportation such as buses, trains, Uber, etc. and riding a bus/walking/bicycling to school is not an option. We are heavily reliant on vehicles due to w...
by OnTrack2020
Thu Jul 27, 2017 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: GF Picking a college major
Replies: 105
Views: 5764

Re: GF Picking a college major

Girlfriend is a college sophomore and is having an identity crisis of sorts - She was premed but was overwhelmed by the time second semester of Chem and struggled gradewise. She's not good at math or the hard sciences. She also has severe social anxiety so I don't think she would be good in a sales...
by OnTrack2020
Wed Jul 26, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: Where to View Total Eclipse? - Kansas City / Nashville et al
Replies: 98
Views: 6752

Re: Where to View Total Eclipse? - Kansas City

Walmart - $1.00 solar eclipse glasses
by OnTrack2020
Wed Jul 26, 2017 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: IRA "registration error" (?) Roth vs Traditional at American Funds
Replies: 37
Views: 2105

Re: IRA "registration error" (?) Roth vs Traditional at American Funds

If he was a minor, his parents probably have the paperwork. I am looking at a Form 5498 from American Funds from 2002 (I'm also considering switching an IRA to VG). The Form 5498 has such a detailed breakdown how to how the funds were contributed, whether it's traditional, rollover, recharacterized,...
by OnTrack2020
Wed Jul 26, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Late start for college savings
Replies: 16
Views: 1434

Re: Late start for college savings

Congrats! And remember....there are sooo many options for you when a child goes to college/university. 1. Prep for the ACT; in our state, they take it in high school. How are her grades? 2. When she's a senior, have her apply for every single scholarship she is eligible for in high school. 3. Child ...
by OnTrack2020
Mon Jul 24, 2017 9:51 pm
Forum: Personal Consumer Issues
Topic: College student daughter got her car totaled. Advice?
Replies: 34
Views: 3213

Re: College student daughter got her car totaled. Advice?

I have been scouring local car dealers for a used car for our teen. Honestly, for a college student who is working and needs reliable transportation, there is nothing worth buying in the $5k range. It will either be fairly older with high mileage. I've set a budget of $10k, but, even then, it's diff...
by OnTrack2020
Fri Jul 21, 2017 9:21 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring an IRA to VG Question
Replies: 8
Views: 487

Re: Transferring an IRA to VG Question

Avolition wrote:You can create an (empty) Vanguard account online in about 5 minutes, then you'd have your account number.
....even if we already have accounts with them?
by OnTrack2020
Fri Jul 21, 2017 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring an IRA to VG Question
Replies: 8
Views: 487

Re: Transferring an IRA to VG Question

This is not a company IRA. I called the "old" custodian. There is a form they require to fill out with the medallion signature stamp. My local bank doesn't do the stamp. I will call VG next week, and ask them about the account number. I thought this would be easy.....
by OnTrack2020
Fri Jul 21, 2017 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring an IRA to VG Question
Replies: 8
Views: 487

Transferring an IRA to VG Question

Am planning on transferring a traditional IRA to VG. Am working on getting the signature stamp. The other piece of information is that the custodian we are transferring from has a space on the application asking for an account number that it's going into. I see that VG puts the money into a settleme...
by OnTrack2020
Thu Jul 20, 2017 7:55 am
Forum: Investing - Help with Personal Investments
Topic: Son's trust fund for education
Replies: 13
Views: 1311

Re: Son's trust fund for education

We have a son who will be a sophomore in college (private) and one that will be entering a community college this fall. We have kept all their money in their respective stock funds, rather than move to CDs, money market, etc. Maybe we're "missing the boat" on this in terms of a market decline, but w...