Search found 617 matches
- Sat Mar 02, 2024 11:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Assets to put in Trust or Trust as beneficiary
- Replies: 93
- Views: 6428
Re: Assets to put in Trust or Trust as beneficiary
This is a 100% state by state, situation by situation answer that only your lawyer can answer. Your lawyer should have provided you explicit instructions on what to title and how. Example: I live in Florida. My lawyer specifically told me not to title my house in the trust. However, I have a second home in the Georgia Mountains. He told me to specifically title that home in the trust. Cars, he told me specifically not to title them in the trust but rather title one solely in my wife's name and one solely in my name. All has to do with certain Florida laws. Talk to the lawyer and if he/she did not give you those instructions ask for them - in writing. Thanks for the response. I did ask for this (we homestead in Florida) and unfortunately I ...
- Fri Mar 01, 2024 11:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Assets to put in Trust or Trust as beneficiary
- Replies: 93
- Views: 6428
Re: Assets to put in Trust or Trust as beneficiary
This is a 100% state by state, situation by situation answer that only your lawyer can answer. Your lawyer should have provided you explicit instructions on what to title and how. Example: I live in Florida. My lawyer specifically told me not to title my house in the trust. However, I have a second home in the Georgia Mountains. He told me to specifically title that home in the trust. Cars, he told me specifically not to title them in the trust but rather title one solely in my wife's name and one solely in my name. All has to do with certain Florida laws.
Talk to the lawyer and if he/she did not give you those instructions ask for them - in writing.
Talk to the lawyer and if he/she did not give you those instructions ask for them - in writing.
- Fri Mar 01, 2024 11:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Father died and I'm totally overwhelmed on what to do
- Replies: 58
- Views: 10974
Re: Father died and I'm totally overwhelmed on what to do
I am so sorry for your loss and I just went through this with my dad as he passed in September. I read through most all the replies and they all seem very sound. Here are a few things I did as well: As someone mentioned, immediately make sure your mom has granted you a POA etc. or put you on her accounts so you can transact all the money that she has. You do not want two problems should her health decline I actually took over my dad's phone and phone number. I did that so I would get any calls from providers, banks anything he may have been doing business with. You may be surprised, as I was, where there was a CD here or there. With permission of my mom, I changed the address of all of their accounts, bills, medicare etc. to my address so a...
- Mon Feb 19, 2024 9:35 pm
- Forum: Personal Investments
- Topic: Time to Build my Own Annuity with 20 year Bonds??
- Replies: 28
- Views: 4510
Re: Time to Build my Own Annuity with 20 year Bonds??
OP, What is your annual expense? What is your portfolio size? KlangFool Annual expense is about $150K max and portfolio (not counting houses) is about $7.5M.. I know, no big deal but I am planning on leaving a sizeable amount to my son, on purpose, just what I want to do. WolfgangPauli, You can stick with a basic 60/40 portfolio and you will have more than enough money to spend and keep up with the inflation. Your portfolio will grow bigger each year. So, I do not understand why do you need to do anything. The 40% bond portfolio will generate 150K at 5% interest rate. The 60% stock at 2% dividend rate will generate 90K per year. The 7.5 millions 60/40 portfolio will generate about 240K of dividend and interest. So, I don't understand why d...
- Sun Feb 11, 2024 8:38 am
- Forum: Personal Finance (Not Investing)
- Topic: Who In Their Right Mind Files Gift Tax Returns? And Why?
- Replies: 114
- Views: 16157
Re: Who In Their Right Mind Files Gift Tax Returns? And Why?
FWIW, I filed a gift tax return in a year I paid off my son's student loans and gave him and his wife enough money for a 20% down payment on his home. Why did I do that? 1) It is required and 2) I never want to come close to being illegal.
If you pay wedding vendors directly (example) because YOU are putting on the wedding then I do not see that as a gift. But, let's say you are buying your son a $60K car. Just because you paid the dealer directly does not change the fact that it is a gift and it is part of the gift tax return.
One that that was crazy when I filed it was that it had to be done on paper. No electronic filing of gift taxes (2019) which I thought was odd.
If you pay wedding vendors directly (example) because YOU are putting on the wedding then I do not see that as a gift. But, let's say you are buying your son a $60K car. Just because you paid the dealer directly does not change the fact that it is a gift and it is part of the gift tax return.
One that that was crazy when I filed it was that it had to be done on paper. No electronic filing of gift taxes (2019) which I thought was odd.
- Sun Feb 11, 2024 8:33 am
- Forum: Personal Investments
- Topic: Time to Build my Own Annuity with 20 year Bonds??
- Replies: 28
- Views: 4510
Re: Time to Build my Own Annuity with 20 year Bonds??
I am assuming that the new issue will be roughly the same and I plan on buying it direct from the US Treasury. If I buy from the US Treasury and hold it to maturity won't I get the 4.75%? The coupon on a new issue T-Note (or T-Bond) will be set to the closest 1/8% lower than the yield set by the auction. So if the auction yield is 4.479%, the coupon would be 4 3/8%, and the price of the bond will be less than 100 (for $100 of principal) to compensate for the interest rate difference. Of course, the results of the auction may not exactly match the market yield. When I've bought 4-week T-Bills over the last month or so, I think the auction gives me a slightly better yield than the current market yield (that I get from CNBC so not sure how ac...
- Sun Feb 11, 2024 8:15 am
- Forum: Personal Investments
- Topic: Time to Build my Own Annuity with 20 year Bonds??
- Replies: 28
- Views: 4510
Re: Time to Build my Own Annuity with 20 year Bonds??
I am assuming that the new issue will be roughly the same and I plan on buying it direct from the US Treasury. If I buy from the US Treasury and hold it to maturity won't I get the 4.75%?w5000 wrote: ↑Sun Feb 11, 2024 6:54 am Also note that you can't buy a 20 year treasury with a 4.75% yield now.
The most recent 20 year treasury bond, issued in November and reopened in January, has a coupon of 4.75%, but the current interest yield is 4.479%, so that's what you can actually get. There is a new 20 year bond being issued later this month, though...
- Sat Feb 10, 2024 9:32 pm
- Forum: Personal Investments
- Topic: Time to Build my Own Annuity with 20 year Bonds??
- Replies: 28
- Views: 4510
Re: Time to Build my Own Annuity with 20 year Bonds??
Annual expense is about $150K max and portfolio (not counting houses) is about $7.5M.. I know, no big deal but I am planning on leaving a sizeable amount to my son, on purpose, just what I want to do.
I understand about the what if on inflation but that is why I have quite a bit in stocks.. just don't want it all there. This would be money that is just sitting in a HYSA today.
- Sat Feb 10, 2024 10:36 am
- Forum: Personal Investments
- Topic: Time to Build my Own Annuity with 20 year Bonds??
- Replies: 28
- Views: 4510
Time to Build my Own Annuity with 20 year Bonds??
I have toyed with an annuity as I do not have any "guaranteed" income besides Social Security in my plan. I recently looked and saw I can get 4.75% on a 20 year Bond through the US Treasury. This would mean, if I bought $500K I would get $23,750 per year or $1979 per month. Seems like a good augmentation and once I hit 70, between this and SS I would be getting over $60K per year in guaranteed income.
Seems like a good strategy but would be interested in thoughts here. I like building my own v. buying as if I were to pass then all the money goes to heirs v. just "losing the bet".
Thoughts?
Seems like a good strategy but would be interested in thoughts here. I like building my own v. buying as if I were to pass then all the money goes to heirs v. just "losing the bet".
Thoughts?
- Sat Jan 20, 2024 3:12 pm
- Forum: Personal Finance (Not Investing)
- Topic: Calling on smart users of New Retirement and other software planners
- Replies: 30
- Views: 5318
Re: Calling on smart users of New Retirement and other software planners
I am 0 for 2 in trying to connect accounts with New Retirement. Before I invest any more time in this, is there some trick to this. It confirms it is connected but then just spins forever...
- Sat Jan 20, 2024 1:47 pm
- Forum: Personal Finance (Not Investing)
- Topic: 6 Months to Cash an iBond from my Father’s Estate
- Replies: 10
- Views: 1422
Re: 6 Months to Cash an iBond from my Father’s Estate
yes mine will too unless they are titled in a trust. My dad's are in a trust and so they tell me I have to send it to the treasury.. I am just going to have to bite the bullet.Geologist wrote: ↑Fri Jan 19, 2024 6:01 am My credit union cashes savings bonds into at least thousands at one time (I did it last year; just got the 1099). The money appeared instantly in my checking account. Now the process for a decedent could be more complicated, especially for one who didn't have an account already.
- Thu Jan 18, 2024 2:45 pm
- Forum: Personal Finance (Not Investing)
- Topic: 6 Months to Cash an iBond from my Father’s Estate
- Replies: 10
- Views: 1422
6 Months to Cash an iBond from my Father’s Estate
Ok, so I am working my father’s estate as he passed in the last 3 months. He has a number of paper ibonds that have matured. I went to Chase where I have cashed these before and they told me their new policy was they could not cash one that is more than something like $100. I cannot remember the exact number but the limit was less than the bond’s face value. I called treasury direct and they told me I could mail it in with a form and the appropriate parts of the trust to cash. Now, here is the kicker: They said it would take at least six months to get the cash in my bank account. Does this seem right? Are there other options? Basically, my dad got a good rate but now gets 0% for six months while we wait for them to cash? Please help with an...
- Sat Dec 30, 2023 8:06 pm
- Forum: Personal Finance (Not Investing)
- Topic: Investing for Generational Wealth
- Replies: 20
- Views: 4655
Re: Investing for Generational Wealth
I am not an accountant, attorney, or tax professional. In addition to consulting with an estate planning attorney, I would also consider talking to a CFP or accountant who specializes is tax planning for estates. Obviously, your goal should be to minimize taxes for both yourself (RMD's) and your son. Also obviously, this has a lot of moving and complex parts. One example: if a trust is named as a beneficiary of your traditional IRA/401k, your son could be facing a tax bomb. RMD's into the trust are going to face taxation at the 37% tax rate due to the compressed trust tax brackets. You can get around this by having the trust distribute this money to your son. However, then that income would be taxed at your son's ordinary tax rate. If that...
- Sat Dec 30, 2023 8:01 pm
- Forum: Investing - Theory, News & General
- Topic: Concentration of Stock As Seen from Morningstar X-Ray tool
- Replies: 5
- Views: 902
Re: Concentration of Stock As Seen from Morningstar X-Ray tool
Yes, but that figure only accounts for their stock investments correct? They own a ton of companies outright (The operating companies) and some of them are huge - BNSF and BRK energy come to mind. When you account for the operating companies, I don't think Apple is that much although your point is valid, it is a big part. Buffett says it isn't even 35% when you account for everything. Still a lot.
- Fri Dec 29, 2023 9:08 am
- Forum: Investing - Theory, News & General
- Topic: Concentration of Stock As Seen from Morningstar X-Ray tool
- Replies: 5
- Views: 902
Concentration of Stock As Seen from Morningstar X-Ray tool
I am an indexer through and through and have a 7 figure position in $VTSAX. However, I was a bit lucky and "cheated" many years ago and bought some APPLE stock. Since then it has obviously gone up significantly and even split 4:1 a few years ago. After the split, it has climbed back and, of course, this last year it was up 49%. So, here is my question: When I do the "X-Ray" and I combine the VTSAX Apple Stock and the actual real Apple Stock, I see Apple now accounts for 13.33% of my portfolio. I know that is too much for one stock but I hate to sell it as I have 1)Huge capital gains and 2) it just seems to have so much scale and cash that I think it is fairly safe. The way I am treating it is I am putting new money into ...
- Thu Dec 28, 2023 6:38 am
- Forum: Personal Investments
- Topic: Is There a Marcus Insolvency Risk?
- Replies: 12
- Views: 1941
Re: Is There a Marcus Insolvency Risk?
I would not be concerned about insolvency. It is so small to Goldman Sachs I doubt they would ever want the headlines of the WSJ to say "GS leaves the average depositor stranded". However, I would just be aware they are trying to get out of this business. They want nothing to do with retail banking anymore so likely this is going to get sold / offloaded and that can be a pain in the you know what. They also want out of the Apple credit card. They found retail banking has none of the margins that "Wealth management" and investment banking has. Second, I tried Marcus once and found they refused to allow me to title the assets in my non revokable trust. That was a show stopper for me as my attorney advised all assets need ...
- Thu Dec 28, 2023 6:36 am
- Forum: Personal Consumer Issues
- Topic: Which iPad To Get
- Replies: 38
- Views: 4430
Re: Which iPad To Get
The frugal option is the 9th Gen, which is regularly on sale for much less than 329. The option for reading is the Mini. The option for productivity work is an Air or Pro. This above is good advice. I bought the most recent iPad Air primarily for perusing the internet and video and the faster chip. I don’t use the pencil option, cellular, etc. If I was to do it again I would go with the cheapest version of iPad and purchase at Costco. Costco was cheaper than the Apple Store but I had some gift cards to use. What I have found is I always regret the "cheapest" because once I got one, I started using it for everything. For example, really, if you get a top line iPad Pro you likely do not need a computer at all. Same for the top line...
- Thu Dec 28, 2023 6:32 am
- Forum: Personal Finance (Not Investing)
- Topic: Investing for Generational Wealth
- Replies: 20
- Views: 4655
Re: Investing for Generational Wealth
Thank you all and likely the "lawyer up" is best, I guess. Although the current family trust I have was made by a lawyer. Unfortunately, Roth is not an option for me at this time and "backdoor" is very complicated as I have a series of both deductible and non deductible traditional IRAs. I don't know that I have enough to worry about the Spanish empire type trusts.
Bottom line, I want to set up my son nicely... what he does is his business I guess.
Bottom line, I want to set up my son nicely... what he does is his business I guess.
- Wed Dec 27, 2023 10:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Investing for Generational Wealth
- Replies: 20
- Views: 4655
Investing for Generational Wealth
I think I have finally hit the point where I will never spend or need the money we have. So, what I have started doing (beyond giving money to son etc.) is no longer investing in tax deferred accounts (62 and still working). Rather, I am putting it all into VTSAX in a taxable account. I am doing this as I don't believe I need it so I am essentially investing like I am a 30 year old and hope to allow my heirs to take advantage of inheritance and a step up basis. The question is if I should still be doing tax deferred? I am doing what I need for company match but I feel the short time left before RMDs, and the fact that RMDs are taxed as personal income tax rate (no benefit for Cap Gains), means I should just stay clear of them. Does this mak...
- Wed Dec 27, 2023 10:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: IBonds in Father's Trust - Father Passed Away
- Replies: 1
- Views: 381
IBonds in Father's Trust - Father Passed Away
Hi:
My father had a number of I bonds which are titled in his trust. He has passed away and my mother and I are both trustees. I would like to retitle them to my mom or do I just leave them like they are and when they mature we cash them as trustees of the trust. Any ideas?
My father had a number of I bonds which are titled in his trust. He has passed away and my mother and I are both trustees. I would like to retitle them to my mom or do I just leave them like they are and when they mature we cash them as trustees of the trust. Any ideas?
- Wed Dec 27, 2023 10:07 pm
- Forum: Personal Consumer Issues
- Topic: Re: Backing up my computer & External Hard Drive Recommendations for Apple MacBook
- Replies: 56
- Views: 4913
Re: Backing up my computer & External Hard Drive Recommendations for Apple MacBook
I use Time Machine (hourly back ups), iCloud and Backblaze. I like having one "off site" storage location just in case of a massive catastrophe (house burns to the ground and all drives lost etc. ).
I have gone 100% cloud.
I have gone 100% cloud.
- Wed Dec 27, 2023 9:51 pm
- Forum: Personal Investments
- Topic: Is There a Marcus Insolvency Risk?
- Replies: 12
- Views: 1941
Re: Is There a Marcus Insolvency Risk?
I would not be concerned about insolvency. It is so small to Goldman Sachs I doubt they would ever want the headlines of the WSJ to say "GS leaves the average depositor stranded". However, I would just be aware they are trying to get out of this business. They want nothing to do with retail banking anymore so likely this is going to get sold / offloaded and that can be a pain in the you know what. They also want out of the Apple credit card. They found retail banking has none of the margins that "Wealth management" and investment banking has. Second, I tried Marcus once and found they refused to allow me to title the assets in my non revokable trust. That was a show stopper for me as my attorney advised all assets need t...
- Wed Dec 27, 2023 9:35 pm
- Forum: Personal Consumer Issues
- Topic: Which iPad To Get
- Replies: 38
- Views: 4430
Re: Which iPad To Get
Like a lot of questions, the answer to this is "it depends". Let me address one of the questions about the Apple Store. If you have one near you definitely go to the Apple Store. They are incredibly knowledgeable, will explain things in plain English and are not pushy - I do not think they are on commission or anything. The Apple Store retail experience, IMHO, is far superior than anything in any category. So, if there is one near, I would go. iPad Pro or Air This is where the "it depends" takes over. I have both. I have the air for personal use and the Pro at work. Both are the newest models. To me, it all comes down to real estate on the screen. I love the big Pro for work because it replaces my full computer. I need t...
- Thu Nov 23, 2023 10:51 am
- Forum: Investing - Theory, News & General
- Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
- Replies: 2094
- Views: 215645
Re: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
The reason I dislike on line statements is you have to make darn sure your heirs can get to all your on-line stuff when you are either incapacitated or gone. So, if you go all on line, make sure they can get into your computers, your phone (don't forget TFA) and someway to recover if you are using facial ID as a way to log on. Recently, I kicked off a process with Apple which provides my heirs with a QR code that will help recover passwords etc. It gets really complicated when everything is on line. Unfortunately, my father passed recently however, fortunately, he had paper everything. So, I just had to wait a month and I was able to reconcile everything. An interesting twist about all this. If you have all your money titled in a trust, the...
- Thu Nov 23, 2023 10:45 am
- Forum: Investing - Theory, News & General
- Topic: Encouraging young investors to Stay the Course
- Replies: 31
- Views: 4060
Re: Encouraging young investors to Stay the Course
HAPPY THANKSGIVING!!
Not to be too philosophical but this is much bigger than money. It is the entire idea of teaching young ones / children about "delayed gratification" and the willingness to invest in their future self. This applies to school, dare I say "sex", marriage, having kids, career AND investing. You have to apply it equally across the board and then I think they will get it.
The key here is they are investing in their future self. Do they want to be smart, do they want to have a great career, do they want to have a great family life and do they want to have, at some point, financial freedom. It is all about imagining yourself in the future and then acting accordingly.
Not to be too philosophical but this is much bigger than money. It is the entire idea of teaching young ones / children about "delayed gratification" and the willingness to invest in their future self. This applies to school, dare I say "sex", marriage, having kids, career AND investing. You have to apply it equally across the board and then I think they will get it.
The key here is they are investing in their future self. Do they want to be smart, do they want to have a great career, do they want to have a great family life and do they want to have, at some point, financial freedom. It is all about imagining yourself in the future and then acting accordingly.
- Mon Oct 23, 2023 9:04 pm
- Forum: Personal Investments
- Topic: A Good Time to Buy Treasury Bonds
- Replies: 14
- Views: 4562
Re: A Good Time to Buy Treasury Bonds
I buy the actual bond in my treasury direct account. It seems so simple, I was able to title it in my trust and link it to my bank. Very easy... And, I do not have to worry about FDIC limits!
- Sun Sep 03, 2023 2:54 pm
- Forum: Personal Investments
- Topic: Total bond fund vbtlx
- Replies: 79
- Views: 9862
Re: Total bond fund vbtlx
Capen, that is exactly what I did, After holding BND(VBTLX) for a long time, I just could not tolerate the losses, yes there are differing opinions & yes mostly against selling. I registered losses as I did not sell them 2 yrs back , I sold them earlier this year (one may look back at my earlier posts) I put them in CD Ladders & sleep better, rather than looking at the losses of BND in IRAs, I sold VWIUX in taxable partially due to not making sense in our marginal tax bracket & also due to its losses . I am looking into buying short term treasuries at Fidelity I held on to VTSAX & the VTIAX during 2007 & multiple other Market downturns because I have the basic conviction that the Stocks will do well in the long term &am...
- Sat Aug 12, 2023 10:05 pm
- Forum: Personal Consumer Issues
- Topic: Maui Visit - Planning Considerations
- Replies: 120
- Views: 18117
Re: Maui Visit - Planning Considerations
Another option would be to see if some charity needs people to physically work.. convert your vacation into helping them.. other than that, my guess is everyone here is right.. stay away as not only would it be uncomfortable for you but you likely would be in their way and consuming resources they do not have right now.
- Fri Jul 28, 2023 9:52 pm
- Forum: Investing - Theory, News & General
- Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
- Replies: 2094
- Views: 215645
Re: New fee for Vanguard mutual accounts [June 2023 update]
I love the junk mail. I take the "Business Reply Mail" envelopes, seal them empty and put them back in the mail. They have to pay postage so I get to stick it to them and it helps support your local letter carrier.TomatoTomahto wrote: ↑Sun Jun 11, 2023 4:10 pm It went through fine. If I’m in for $2, I’m in for $4
I also did the No credit card prequalified offer thing.
They had a fair number of caveats on it, but I hope it slows down my junk mail.
- Fri Jul 28, 2023 9:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Negative of Paid Off Mortgage - Truth or Myth?
- Replies: 17
- Views: 3361
Re: Negative of Paid Off Mortgage - Truth or Myth?
My belief is if your home goes up in smoke or wind or whatever the bank will say it is your responsibility to ensure a house of equal value is there. Meaning, you are responsible to fight it out with the insurance company. Also, remember, all the mortgage company really cares about is getting their money back, I don't think they want a house. So, let's say you have a $500K house and have $100K mortgage on it and it blows away, the bank is looking for $100K not a brand new house (I think). Give them $100K and they could care less what you do. Also, on the idea of self insurance. This is not as crazy as it seems in Florida. For example, if you are living below your means and have a $300K house in Florida chances are you will pay out of pocket...
- Fri Jul 07, 2023 10:03 pm
- Forum: Personal Investments
- Topic: VUSXX taxable for state and local now
- Replies: 353
- Views: 59406
Re: VUSXX taxable for state and local now
Isn't all this a mute point if you buy direct from the Treasury? Not sure if we are talking about "transaction funds" but if we are talking investments or just parking money I have found building a ladder on the treasury site to be incredibly easy and then you are assured the state and local tax advantage.
- Sun Jul 02, 2023 5:56 am
- Forum: Personal Finance (Not Investing)
- Topic: Does buying T-bills makes more sense than mortgage
- Replies: 15
- Views: 2664
Re: Does buying T-bills makes more sense than mortgage
I realized I made a mistake. I should look at interest at margin not overall interest. Since my interest at margin is not tax deductible, mortgage wins. I was itching to make this point when I started reading the thread, then I saw this post; glad you realized it yourself. If you are indeed donating thousands of dollars to charity, I think you will be a lot better served with DAF than using it as an itemized deduction. Basically do a one time donation to DAF three or four years worth, claim the tax deduction in one year, then donate out of the DAF to your charities. It would be a pinch that first year but will be a lot easier on the cash flow the subsequent years. Rinse and repeat. I use DAF already. But standard deduction just doesn't mak...
- Fri Jun 30, 2023 5:05 am
- Forum: Personal Finance (Not Investing)
- Topic: Does buying T-bills makes more sense than mortgage
- Replies: 15
- Views: 2664
Re: Does buying T-bills makes more sense than mortgage
AS LONG AS..... You have the discipline to maintain your savings and investment plan. Too often I see people show on an excel spreadsheet why it makes sense to invest the cash rather than prepay. Then, a pile of cash / cash equivalents builds up and that cruise or river trip in Europe seems very affordable. The person then forgets the matching of the cash with the mortgage, spends the cash, and the cycle starts all over again. For me, it was imperative to go into retirement with 0 debt of any kind. This way when I look at my assets what I see is what I have and I don't have to think of any sinking fund offsets. While mathematically this may not be right, behaviorally I think everyone is best to go into retirement (say 55 and older) with abs...
- Fri Jun 30, 2023 4:59 am
- Forum: Personal Investments
- Topic: [Replacing Wellington?]
- Replies: 35
- Views: 5563
Re: Wellington
In general, my belief is the bulk of your savings should be in a low cost, total market index fund v. actively managed. Wellington is a great fund. So, before I could answer your question I would need to know the tax implication, if any, of selling the $780K. If it is in a tax advantaged account (IRA, 401k etc.) then I would likely do it.
If you are going to get hit with a huge tax bill, you will need to do the math.
- Sun Jun 25, 2023 10:13 am
- Forum: Personal Finance (Not Investing)
- Topic: Umbrella Policy - Uninsured Motorists USAA
- Replies: 19
- Views: 2943
Re: Umbrella Policy - Uninsured Motorists USAA
My understanding is your Part C is up to certain limits. The umbrella portion allows specifically for umbrella coverage after your initial limits. I posted the actual verbiage above in a previous post. My guess is this may be unique to Florida so if you live elsewhere it may not apply. Apparently Florida law requires the to get a statement from me either accepting or declining and that I understand the consequences.
- Sun Jun 25, 2023 10:04 am
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1203559
Re: I bonds issued May 1, 2023 to October 31, 2023.
Does it make sense for a couple to purchase say $100,000 of the subject bonds during this period to take advantage of the fixed 0.9% rate and gift annually to each other for the next 5 years? Assuming our allocation called for this. How would you buy $100,000 of these things.. you can buy $10K per person plus maybe another $10K for a trust.. are you setting up a lot of entities? read more: https://www.bogleheads.org/forum/viewtopic.php?t=306297 https://www.bogleheads.org/forum/viewtopic.php?t=373890 https://www.bogleheads.org/forum/viewtopic.php?t=365140 Thank you for the reference. I think this is a bit unsettled and buying $100K just seems to be "out there" in terms of risk. I suppose the government won't do anything about it b...
- Sun Jun 25, 2023 10:01 am
- Forum: Personal Finance (Not Investing)
- Topic: Umbrella Policy - Uninsured Motorists USAA
- Replies: 19
- Views: 2943
Re: Umbrella Policy - Uninsured Motorists USAA
Thank you. I also did some more research and decided to do it... this is Florida after all!
I also know USAA is a bit high but I am keeping everything with them and am trusting them at their word about how they would treat a veteran in time of need. Hopefully, I will never have to find out if they are honest.
I also know USAA is a bit high but I am keeping everything with them and am trusting them at their word about how they would treat a veteran in time of need. Hopefully, I will never have to find out if they are honest.
- Sat Jun 24, 2023 9:43 pm
- Forum: Personal Finance (Not Investing)
- Topic: Umbrella Policy - Uninsured Motorists USAA
- Replies: 19
- Views: 2943
Umbrella Policy - Uninsured Motorists USAA
Good Evening: USAA is asking me (telling me I must say yes or now) if I want my umbrella policy to have uninsured motorist coverage. I have not had this in the past but it seems like I should It would provide $1M for this and it would cost an additional $224.95. The benefit (They say): Provides protection for you and your resident family members if injured in a motor vehicle accident cause by an uninsured, underinsured or hit and run motorist who is at fault. Pays, in excess of hte applicable minimum required limit shown in the schedule of underlying insurance on my umbrella policy declarations, if I am injured by an at fault motorist whose limits are less than my umbrella uninsured motorists coverage limit and less than the amount of damag...
- Sat Jun 24, 2023 9:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Homeowners Dwelling Coverage in FL
- Replies: 17
- Views: 2176
Re: Homeowners Dwelling Coverage in FL
I'm shopping my homeowners insurance and live in Palm Beach county, FL. My current policy is up for renewal next month and the premium is scheduled for a 75% increase (I have not had any claims in the past 5 years). :annoyed I've got a handful of quotes and will be able to keep the increase closer to 30% by switching. To make sure I'm keeping my premium reasonable and while maintaining adequate coverage I've been debating what proper dwelling coverage is. The quotes that I'm given range by $200,000 for dwelling coverage and I have no idea how that amount is being determined by the agents I work with, but clearly it impacts the premium. Any advice from others who either live in FL or have some knowledge on how to approach figuring the prope...
- Sat Jun 24, 2023 9:25 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1203559
Re: I bonds issued May 1, 2023 to October 31, 2023.
How would you buy $100,000 of these things.. you can buy $10K per person plus maybe another $10K for a trust.. are you setting up a lot of entities?
- Fri Jun 23, 2023 10:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: Homeowners Dwelling Coverage in FL
- Replies: 17
- Views: 2176
Re: Homeowners Dwelling Coverage in FL
I'm shopping my homeowners insurance and live in Palm Beach county, FL. My current policy is up for renewal next month and the premium is scheduled for a 75% increase (I have not had any claims in the past 5 years). :annoyed I've got a handful of quotes and will be able to keep the increase closer to 30% by switching. To make sure I'm keeping my premium reasonable and while maintaining adequate coverage I've been debating what proper dwelling coverage is. The quotes that I'm given range by $200,000 for dwelling coverage and I have no idea how that amount is being determined by the agents I work with, but clearly it impacts the premium. Any advice from others who either live in FL or have some knowledge on how to approach figuring the prope...
- Sat Jun 17, 2023 8:02 pm
- Forum: Investing - Theory, News & General
- Topic: Is Morningstar trustworthy?
- Replies: 42
- Views: 4540
Re: Is Morningstar trustworthy?
I really respect morningstar and also am a big fan of Christine Benz. She does a fantastic podcast called "The long view" and it is worth listening to - along with, of course, the boglehead podcast. I also follow her on twitter as she is just a great educator. Not sure what my feelings would be about M* if she was not there. However, I am confident with her there it will always be a first rate source for data.
And, I love and use the portfolio feature...
And, I love and use the portfolio feature...
- Sat Jun 17, 2023 11:53 am
- Forum: Investing - Theory, News & General
- Topic: T- bills as cash?
- Replies: 29
- Views: 2642
Re: T- bills as cash?
I would follow a similar logic as GAAP. When you see company's balance sheets, the first line usually is "Cash and Cash Equivalents" - One category of "cash equivalents" is short term treasuries and tbills. So, yes, I would count them as cash and cash equivalent.
- Sun Jun 11, 2023 8:40 am
- Forum: Investing - Theory, News & General
- Topic: "Important Changes to Vanguard Total Stock Market Index Fund..."
- Replies: 35
- Views: 6480
Re: Vanguard Total Stock Index Being Reorganized
All of a sudden you have to have a brokerage account. . . . Here is my guess: Vanguard is getting ready to go Public and there was something deep in the by-laws of a mutual organization that, as shareholders, they would have to share the proceeds and deep in the new by-laws, there will be nothing of the sort. Hardly sudden. Vanguard has tried to get people on the brokerage platform for literally a decade. Many have made the change and moved on with life, but some have chosen to ignore the requests and the obvious trending to the point where it seems more and more like being forced, so perhaps if that's the path one's chosen it seems sudden. Don't believe it's been a decade? Here's an article from a financial blogger from 8+ years ago that ...
- Sun Jun 11, 2023 7:40 am
- Forum: Investing - Theory, News & General
- Topic: "Important Changes to Vanguard Total Stock Market Index Fund..."
- Replies: 35
- Views: 6480
Re: Vanguard Total Stock Index Being Reorganized
As far as I can tell, this is just corporate structure. For what it is worth, already discussed here: https://www.bogleheads.org/forum/viewtopic.php?t=405528 Super helpful.. thanks.. I am very skeptical of everything Vanguard is doing right now. In my mind, nothing is ever just "bookkeeping". There is a reason and I just hope it is not to screw me out of money. Thank you for pointing the previous thread out. I tried to search.. I need to get better at using the search function I guess. What scenario are you envisioning? That Vanguard is going to somehow confiscate your total market shares for their own purposes? No, I am just wondering what is happening within Vanguard that is causing all of this. All of a sudden, fees for this a...
- Sun Jun 11, 2023 7:05 am
- Forum: Investing - Theory, News & General
- Topic: "Important Changes to Vanguard Total Stock Market Index Fund..."
- Replies: 35
- Views: 6480
Re: Vanguard Total Stock Index Being Reorganized
Super helpful.. thanks.. I am very skeptical of everything Vanguard is doing right now. In my mind, nothing is ever just "bookkeeping". There is a reason and I just hope it is not to screw me out of money. Thank you for pointing the previous thread out. I tried to search.. I need to get better at using the search function I guess.Geologist wrote: ↑Sun Jun 11, 2023 7:00 am As far as I can tell, this is just corporate structure. For what it is worth, already discussed here: viewtopic.php?t=405528
- Sun Jun 11, 2023 6:33 am
- Forum: Investing - Theory, News & General
- Topic: "Important Changes to Vanguard Total Stock Market Index Fund..."
- Replies: 35
- Views: 6480
Vanguard Total Stock Index Being Reorganized
[Merged into existing discussion - moderator oldcomputerguy] I am sure this is nothing to worry about but thought I would get the collective wisdom here to calm me down. And, of course, this is coming on the heels of so many changes at Vanguard I just am feeling overwhelmed and, honestly, feel like they are losing the mission. But, I received the VTSAX summary prospectus today and in there was a supplement. The supplement announced that VTSAX has been "acquired" by the "Vanguard Total Stock Market Index Fund, a series of Vanguard Montgomery Funds". I did a search on Montgomery funds and found a bunch of SEC filings etc. Could be just a bureaucratic reorg but I am just wondering, should I be concerned? I personally have ...
- Fri Jun 09, 2023 8:12 pm
- Forum: Investing - Theory, News & General
- Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
- Replies: 2094
- Views: 215645
Re: New fee for Vanguard mutual accounts [June 2023 update]
Just a quick thought on why I like paper a heck of a lot better than just on line. Paper helps if you or a loved one dies unexpectedly. In the case of my father, he kept everything paper and when he had a stroke and could no longer do his financials all I had to wait for is 1 quarter at the most. By then I received everything in paper that told me where everything was.
If he had kept them all on line, I am not sure how I would have been sure we had control over everything. I know many will say to just keep a good record but when people get into their '80s and '90s they tend to falter on that front. It was simple because all I had to do was to get his mail.
If he had kept them all on line, I am not sure how I would have been sure we had control over everything. I know many will say to just keep a good record but when people get into their '80s and '90s they tend to falter on that front. It was simple because all I had to do was to get his mail.
- Sun May 21, 2023 5:33 pm
- Forum: Personal Consumer Issues
- Topic: Supplemental Spousal Liability Auto Insurance
- Replies: 10
- Views: 1326
Re: Supplemental Spousal Liability Auto Insurance
Sorry, I am still confused. So, you would take out insurance so your friends could sue your spouse? I do not understand.Paullmas wrote: ↑Sun May 21, 2023 7:45 amBodily injury liability. Spouse can not sue. Non-spouse passengers can sue.WolfgangPauli wrote: ↑Sun May 21, 2023 7:24 am Never heard of it.. so, you would sue your spouse for what? Punitive damages? I am not sure I am following. Your insurance (either auto or medical) would cover her medical bills but you want to get extra money like you would if some truck hit you or something?
- Sun May 21, 2023 7:24 am
- Forum: Personal Consumer Issues
- Topic: Supplemental Spousal Liability Auto Insurance
- Replies: 10
- Views: 1326
Re: Supplemental Spousal Liability Auto Insurance
Never heard of it.. so, you would sue your spouse for what? Punitive damages? I am not sure I am following. Your insurance (either auto or medical) would cover her medical bills but you want to get extra money like you would if some truck hit you or something?