Search found 85 matches

by mayoman
Tue Feb 02, 2016 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Administrators -Poor Customer Service
Replies: 3
Views: 458

Re: HSA Administrators -Poor Customer Service

Did you ever think that the increased hold time and lack of email response was due to a whole bunch of people not waiting a few days to receive their 1099-SA forms when they were not even late yet? This is like people calling Vanguard on December 31st to TLH or request an RMD and complain about Van...
by mayoman
Tue Feb 02, 2016 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Administrators -Poor Customer Service
Replies: 3
Views: 458

HSA Administrators -Poor Customer Service

Just got off the phone after 35 min hold with HSA Administrators to see if they had mailed 1099-SA. Apparently did on Friday but have not received mine. E-mailed them yesterday with same question after not getting to a representative after a 40 min phone hold. Have yet to receive a response to the e...
by mayoman
Tue Feb 02, 2016 12:05 pm
Forum: Personal Consumer Issues
Topic: Unwinding day old terrible car deal for mother-in-law
Replies: 186
Views: 17083

Re: Unwinding day old terrible car deal for mother-in-law

Didn't read each post but you said MIL doesn't speak English. Was contract read andprovided to her in Korean. It is not "informed consent " if not understood in her native language. Your contract is in English. This point may have already been discussed.
by mayoman
Wed Jan 27, 2016 4:20 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribution
Replies: 4
Views: 416

Re: Roth IRA Contribution

If you are within income limits, do direct Roth contribution. If outside limits, do non-deductible IRA, followed soon by a Roth conversion. The latter procedure has added complexity if you have significant Traditional IRA funds. For most situations, a taxable account is better than non-deductible I...
by mayoman
Wed Jan 27, 2016 3:32 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribution
Replies: 4
Views: 416

Re: Roth IRA Contribution

Sorry inadvertently posted in investing forum instead of personal finance forum. Maybe moderator could change?
by mayoman
Wed Jan 27, 2016 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribution
Replies: 4
Views: 416

Roth IRA Contribution

I retired April 1, 2015 from corporation at age 63. I had earned income up to that period (3 months) and since I was a partner in the corporation have been receiving deferred compensation in the form of a "buyout" since that time paid in monthly installments that I will receive for a total...
by mayoman
Tue Jan 26, 2016 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Explain the Market
Replies: 6
Views: 662

Re: Explain the Market

At the mathematical level, the price of a stock is the value of its future cash flows. The intrinsic value of a stock is the value of every dividend you expect it will pay over its lifetime. (Remembering that stocks can cut their dividend, raise their dividend, or start paying a dividend if they do...
by mayoman
Tue Jan 26, 2016 10:03 am
Forum: Investing - Help with Personal Investments
Topic: Explain the Market
Replies: 6
Views: 662

Explain the Market

Little confused what drives the market and was hoping someone could help me understand. For example, everything concerning the Fed rate hike pointed to a more "robust" economy if the rate were raised. When they didn't raise the rate-- market went down. Explanation economy wasn't moving as ...
by mayoman
Sat Jan 23, 2016 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Recevied debt collection letter for old state taxes
Replies: 7
Views: 1277

Re: Recevied debt collection letter for old state taxes

Agree with Jeb. Google Penn Credit Corp and you will see they don't have the best reputation. Would first check with the state.
by mayoman
Fri Jan 22, 2016 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Just Want To Be Sure [Taxable income]
Replies: 7
Views: 753

Re: Just Want To Be Sure [Taxable income]

JGoneRiding, not sure what you mean. I'm not Medicare eligible for a few more years and my income is above the $10,000 (and greater than $11,700). I used $10k just for illustration, but my income is still below the upper level eligible for a subsidy. Sorry if I confused. Am I missing something? Than...
by mayoman
Fri Jan 22, 2016 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Just Want To Be Sure [Taxable income]
Replies: 7
Views: 753

Re: Just Want To Be Sure

Thank you Steelersfan.
by mayoman
Fri Jan 22, 2016 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Eligibility documents for Obamacare premium tax credit
Replies: 13
Views: 932

Re: Eligibility documents for Obamacare premium tax credit

Going through the same thing. Submitted documents in Nov.2015 for 2016. Recently told I needed to resubmit which I did with two letters from former employer with last detailing retirement date, deferred income, etc. When I called last week to see if these were satisfactory was told documents are rev...
by mayoman
Fri Jan 22, 2016 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Just Want To Be Sure [Taxable income]
Replies: 7
Views: 753

Re: Just Want To Be Sure

Thank you. My "cash bucket" was accumulated over many years after tax, so since it has already been taxed, only interest on the CDs would be included. Is that correct? For example just to be sure I am clear, if my budget were $20,000 per year and $10,000 of that amount came from the buyout...
by mayoman
Fri Jan 22, 2016 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Just Want To Be Sure [Taxable income]
Replies: 7
Views: 753

Just Want To Be Sure [Taxable income]

Since retirement last March have been living on small buyout from corporation of which I was a partner and cash savings (post-tax money markets, CDs). Want to make sure only " income" for tax purposes and Affordable Care Act is deferred compensation (buyout) and income on taxable accounts ...
by mayoman
Wed Jan 13, 2016 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: What Do Dow Futures Really Mean?
Replies: 7
Views: 475

Re: What Do Dow Futures Really Mean?

Sk55 and others. Thanks for the replies. Wasn't basing any decisions on futures or the markets ups and downs. Was just curious, realizing I really didn't grasp the concept of "futures". You guys gave simple good explanations.
by mayoman
Wed Jan 13, 2016 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: What Do Dow Futures Really Mean?
Replies: 7
Views: 475

What Do Dow Futures Really Mean?

Woke up this morning to the futures supposedly up 167 points, China somewhat stable, European markets doing ok, and this afternoon Dow down 367 points. Do the futures have any predictive power? and as a follow-up what do they really tell us? BTW I am a buy and hold and long term inverstor so I don't...
by mayoman
Wed Sep 23, 2015 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Interaction with Health Savings Administrator
Replies: 1
Views: 285

Interaction with Health Savings Administrator

Posting this for informational purposes. I kept my HSA with Health Savings Administrators after the dropping of HSA Bank and set up my account with them. I elected to have the debit account and debit card but didn't realize it was a separate account needing funded since I haven't used it before reti...
by mayoman
Tue May 12, 2015 4:52 pm
Forum: Investing - Help with Personal Investments
Topic: Transfer of Assets
Replies: 2
Views: 392

Re: Transfer of Assets

Thanks Mike. Turns out I don't transfer "in kind" after talking to Vanguard today. The rep said my 401k trustee would just send them a check. I will definitely confirm this with my 401 k folks to be sure. If not I will do as you suggest.
by mayoman
Mon May 11, 2015 5:39 pm
Forum: Investing - Help with Personal Investments
Topic: Transfer of Assets
Replies: 2
Views: 392

Transfer of Assets

I am considering transferring all my retirement funds from my 401k to Vanguard. Most of the funds are not Vanguard, so would I be better transferring all my holdings to the Stable Value Fund in my 401k ( there is no money market fund) prior to the second transfer to Vanguard? I plan on re-vamping al...
by mayoman
Sun Mar 08, 2015 8:49 am
Forum: Personal Finance (Not Investing)
Topic: How to Hold CPA Accountable for Negligence
Replies: 36
Views: 4013

Re: How to Hold CPA Accountable for Negligence

I dont know the law re negligence I'd say the negligence was yours, pay the fine, get a new/better CPA I am not a lawyer but respectfully disagree. If your CPA holds herself out to be a professional in tax preparations she is held to a reasonable standard. Like any profession she cannot hold hersel...
by mayoman
Fri Mar 06, 2015 10:15 am
Forum: Personal Finance (Not Investing)
Topic: 401k Question
Replies: 4
Views: 493

Re: 401k Question

Thank you ERISA
by mayoman
Thu Mar 05, 2015 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: 401k Question
Replies: 4
Views: 493

401k Question

I will be retiring in June and have participated in our corps 401k for twenty years and have a substantial amount. I would like to rollover the entire amount into Vanguard where I already have a traditional IRA of seven figures. I have been and will be using the majority of my earnings to maximize m...
by mayoman
Sun Dec 08, 2013 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Back door Roth
Replies: 2
Views: 364

Re: Back door Roth

Thank you. That is what I came up with also. Appreciate the help.
by mayoman
Sun Dec 08, 2013 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Back door Roth
Replies: 2
Views: 364

Back door Roth

I have read the Wiki on the back door Roth and need a little help. I will be retiring next year and 1/2 of my retirement savings are in a 401(k) with my present employer. The funds are mostly Vanguard and DFA so I have no problems with the offerings. My costs outside of fund costs equal about 0.8%. ...
by mayoman
Sat Mar 16, 2013 7:09 am
Forum: Personal Finance (Not Investing)
Topic: health insurance - billed vs what insurance pays doc
Replies: 26
Views: 1530

Re: health insurance - billed vs what insurance pays doc

As a physician, I think this is one of the biggest travesty in our current system. There is no link between real costs and the billed costs. I think it evolved over time when the insurance company agreed to pay 80% of the billed amount, so the providers increased the billed amount to compensate. Th...
by mayoman
Fri Mar 15, 2013 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: health insurance - billed vs what insurance pays doc
Replies: 26
Views: 1530

Re: health insurance - billed vs what insurance pays doc

As a physician, I think this is one of the biggest travesty in our current system. There is no link between real costs and the billed costs. I think it evolved over time when the insurance company agreed to pay 80% of the billed amount, so the providers increased the billed amount to compensate. Th...
by mayoman
Fri Mar 15, 2013 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Power of Attorney
Replies: 5
Views: 822

Re: Power of Attorney

Thanks all for the help.
by mayoman
Sun Mar 10, 2013 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Power of Attorney
Replies: 5
Views: 822

Power of Attorney

My mother who is 90 is in the final stages of Alzheimer's and is mentally incompetent. My sister living in the same town has POA for her. My father passed away several years ago. We have decided to sell my mom's car and use the proceeds for her ongoing care. Is my sister allowed to sign over the tit...
by mayoman
Tue Mar 05, 2013 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: From High Income to "No" Income
Replies: 12
Views: 1740

Re: From High Income to "No" Income

I am in the same position as yourself. Since you have no income, you have no tax. Other than the meager interest from your taxable accounts. This will work in my favor for Obamacare for health insurance subsidies for 2014. I also plan on moving some IRA money to Roth. I'll probably have an 'income'...
by mayoman
Tue Mar 05, 2013 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: From High Income to "No" Income
Replies: 12
Views: 1740

Re: From High Income to "No" Income

Thanks for the replies. I was going to edit and add the statement it would seem like a good time to do a Roth Conversion. Glad that was validated.
by mayoman
Tue Mar 05, 2013 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: From High Income to "No" Income
Replies: 12
Views: 1740

From High Income to "No" Income

If all stays true to plan I am looking at full retirement next year at age 62. I have been a high income earner for a number of years and with years of diligent saving, we should be fine. Wife and I have traditional IRAs and I have a 401k at my present position which we will not need to touch until ...
by mayoman
Wed Feb 20, 2013 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Non-deductible IRA contribution
Replies: 6
Views: 2706

Re: Non-deductible IRA contribution

Thanks everyone. So to be sure I am clear. Our joint filing is over the 183k limit. We are both over 50 but less than 70.5. I am the only one working and max a 401k at work. Thus we can both can make a non-deductible $6000 contribution. Wife's contribution is not deductible.
by mayoman
Tue Feb 19, 2013 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Non-deductible IRA contribution
Replies: 6
Views: 2706

Non-deductible IRA contribution

Background: Wife and I both over 50. Wife does not work,hence no earned income. I am still working and our joint filing is greater than the limit for a "deductible" traditional IRA contribution. I have a 401k at work that I max each year. Wife and I both have a traditional IRA which we hav...
by mayoman
Thu Feb 07, 2013 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance after Retirement
Replies: 8
Views: 613

Re: Health Insurance after Retirement

If so, my guess is no. Not because it isn't "legal," but because it will violate the corporation's agreement with the health insurer, which almost certainly requires that to be covered by the policy the person has to work some minimum number of hours for the corporation. Once you stop wor...
by mayoman
Thu Feb 07, 2013 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance after Retirement
Replies: 8
Views: 613

Re: Health Insurance after Retirement

I gather you are asking if the corporation can keep you on their plan and include their cost of insuring you and your wife as part of the money you are due as part of your buy-out. If so, my guess is no. Not because it isn't "legal," but because it will violate the corporation's agreement...
by mayoman
Thu Feb 07, 2013 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance after Retirement
Replies: 8
Views: 613

Health Insurance after Retirement

My plan is to retire soon after my 62nd birthday which will mean I will have to bridge the health insurance gap for myself and my wife who will be aged 61 until Medicare eligible. Our corporation (of which I am a shareholder) offers employee health insurance in which my wife and I participate. When ...
by mayoman
Tue Feb 05, 2013 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Eligibility
Replies: 5
Views: 288

Re: Medicare Eligibility

Thanks for the help. Wife was paniced thinking she was going to need to find a job. :happy
by mayoman
Tue Feb 05, 2013 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Eligibility
Replies: 5
Views: 288

Re: Medicare Eligibility

Think I answered my own question after doing the advanced forum search on this topic. It seems she does qualify at age 65 (I will be 66 and already qualified) for free Part A based soley on my work record. Please advise if I am wrong in this interpretation.
by mayoman
Tue Feb 05, 2013 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Eligibility
Replies: 5
Views: 288

Medicare Eligibility

A question about Medicare eligibilty. I have over 40 Social Security credits and am eligible for full retirement benefits at age 66. My wife has only 37 credits but will be taking spousal benefits which is 1/2 my benefits at age 66. My question is she eligible for premium free Part A, and the same p...
by mayoman
Sun Dec 18, 2011 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance question
Replies: 20
Views: 1541

Re: Long term care insurance question

Thanks Steelersfan, appreciate the help.
by mayoman
Sun Dec 18, 2011 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance question
Replies: 20
Views: 1541

Re: Long term care insurance question

There is a program that provides income to spouses of veterans that go into assited living and nursing homes. It was for the spouse of a WWII vet, and I am not sure if it is for other wars spouses. We did not apply for it until after the veteran died, so we do not know if it applied to vets or not....
by mayoman
Mon Dec 12, 2011 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Mother In Law's finances
Replies: 11
Views: 813

Re: Help With Mother In Law's finances

Thanks so much for the help. I agree with not trying to "hide" any of the money. I had a relative on my side that tried that and believe me "big brother" did not take kindly to that. The suggestion of the annuity is intriguing but I will try to couple that with finding a lawyer i...
by mayoman
Mon Dec 12, 2011 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Mother In Law's finances
Replies: 11
Views: 813

Help With Mother In Law's finances

My mother in law (father in law died 9 years ago) is only receiving SS benefits of about $550.00 per month and no other assistance. She was too proud to tell us of this fact until recently. This is far below the poverty level. She owns her own house and car with 200k miles but has no other assests. ...
by mayoman
Wed Jul 20, 2011 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: Stable Value Fund
Replies: 6
Views: 1372

Not all but a portion. It is market timing. I had a Stable Value fund in my 401k and used it to hold about 2/3 of my 401k (the 401k was about 2/3 of my portfolio). I loved it. Talk about offsetting risk on the equity side it was like a 1 yr CD without penalties - though not guaranteed by the Feds. ...
by mayoman
Wed Jul 20, 2011 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: Stable Value Fund
Replies: 6
Views: 1372

Stable Value Fund

I know this is not "boglehead-like" but I have a question I would like to pose. I do not wish to debate the effect of failure to resolve the debt ceiling by the deadline but I do believe it will affect the markets in a negative way if not resolved. On that premise my 401k has a Stable Valu...
by mayoman
Sat Feb 26, 2011 6:10 pm
Forum: Investing - Help with Personal Investments
Topic: Social Security Spousal Benefit
Replies: 7
Views: 1245

I'm curious who would be "a company's financial advisor." Most companies don't staff FA's as part of human resources or some such other service. Would it be this is somebody who comes along with the 401K plan who has put foot in door as part of collecting fees from the plan under the guis...
by mayoman
Fri Feb 25, 2011 8:20 pm
Forum: Investing - Help with Personal Investments
Topic: Social Security Spousal Benefit
Replies: 7
Views: 1245

Thank you SS critic. Kind of scary the companies FA didn't know this basic info.
by mayoman
Fri Feb 25, 2011 7:57 pm
Forum: Investing - Help with Personal Investments
Topic: Social Security Spousal Benefit
Replies: 7
Views: 1245

Social Security Spousal Benefit

Want to be sure if I have this right. After I finished college and graduate school my wife "retired" from her work as an executive secretary. She paid into SS up until that time but at this time has not enough "quarters" for full benefits. I am not planning on SS until age 66 and...
by mayoman
Sun Jan 30, 2011 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Gifting to children
Replies: 14
Views: 1289

EmergDoc wrote:
mayoman wrote:Sorry, I apparently asked a stupid question. Didn't think Bogleheads would be condescending.



Sorry didn't mean to offend. Estate tax/gift tax deductibility can easily be confused with income tax deductability.


Like I said to Bob, I misinterpreted the comments. All is well :D
by mayoman
Sun Jan 30, 2011 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: Gifting to children
Replies: 14
Views: 1289

Bob's not my name wrote:We're not being condescending. Emergdoc just extrapolated to a fantastic (in the original sense of the word) tax evasion scheme.

No question is stupid if you learn something from the answer.


Okay, just misinterpreted.

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