Search found 81 matches

by mnnice
Fri Apr 22, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle large long term capital gain with respect to ACA Medicaid
Replies: 19
Views: 1349

Re: How to handle large long term capital gain with respect to ACA Medicaid

We had a similiar situation last year and needed to sell appreciated stock to buy a home. We never got a very clear answer from my states DHS either :( . We deferred almost all our earned income in my 401k and had a year with almost entirely long term gain as income and just stayed under the limits....
by mnnice
Mon Apr 11, 2016 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Balance Employee qualifying for Medicaid versus full work week
Replies: 8
Views: 401

Re: Balance Employee qualifying for Medicaid versus full work week

I am not sure contributing to a 401k or 403b works :? as most states look at gross pay and really do not care about net pay much.
by mnnice
Sat Apr 09, 2016 10:17 am
Forum: Personal Finance (Not Investing)
Topic: is keeping employer health insurance a good reason to stay in a bad job
Replies: 29
Views: 2013

Re: is keeping employer health insurance a good reason to stay in a bad job

I have found a few loopholes in ACA that can really mess things up. Without a job you have no earned income, in my state those with income levels below ~$14k for an individual or ~$29k for a family (Social security doesn't count) cannot enroll in ACA and MUST go onto the state's medicaid system. Yo...
by mnnice
Wed Mar 30, 2016 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Dropping Full Coverage Auto Insurance
Replies: 6
Views: 646

Re: Dropping Full Coverage Auto Insurance

You are paying about $1000 per year to insure yourself against a loss between $1500 and $2500 depending on the value of the vehicle and the deductable. It would be a risk I would gladly take on as you have money for a replacement vehicle.
by mnnice
Mon Feb 29, 2016 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Sibling has decided not to pay for college for his future children
Replies: 47
Views: 3505

Re: Sibling has decided not to pay for college for his future children

stoptothink wrote:IMO, you are way out of line even worrying about this.

Yep as my friend Kasey Musgraves says
"Mind your own biscuits life will be gravy."
by mnnice
Mon Feb 15, 2016 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Subsidy/Medicaid Questions
Replies: 6
Views: 706

Re: Health Insurance Subsidy/Medicaid Questions

From my experience DHS staff don't understand dividends or rental income very well. :(

Cash rent vs her current share arrangement would be easier to understand, but should be necessary.

Calling your assembly person might be another option if speaking to a supervisor does not yield results.
by mnnice
Wed Jan 13, 2016 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: What exactly is "decanting" a Trust
Replies: 5
Views: 690

Re: What exactly is "decanting" a Trust

My ILs put the ag land they own in an irrevocable trust. They are in a state that allows decanting. What does that mean in real life? Are the recipents of the trust just allowed to change or pass on who get the income generated? Or can they liquidate the trusts holdings? And if you can make signific...
by mnnice
Sat Jan 09, 2016 3:16 pm
Forum: Personal Consumer Issues
Topic: Building a new small home
Replies: 37
Views: 3542

Re: Building a new small home

But often its worth because you can have chickens. Made me laugh! (And I do meant that sincerely, not with sarcasm :happy .) I mean very seriously. Last three places Ive lived were rural with chickens. I miss my chickens and awesome stars and sunsets. I do not miss being 8 miles from a gallon of mi...
by mnnice
Fri Jan 08, 2016 8:06 pm
Forum: Personal Consumer Issues
Topic: Building a new small home
Replies: 37
Views: 3542

Re: Building a new small home

Slightly off topic but I am not sure rural living is suited to people that are not at least average in handiness.

Imo all rural settings have challenges you are not going to encounter in town. But often its worth because you can have chickens.
by mnnice
Tue Jan 05, 2016 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: How many streams of income do you have?
Replies: 60
Views: 6174

Re: How many streams of income do you have?

Previously, but not currently

Dh's wages
Rental income

In 2015
My wages
Long term capital gains
Unemployment
Qualified dividends
Interest

In the future
Defined benefit pension
Social security
Rental income (probabily in the form of ag land in a trust)
Ira or 401k distributions
by mnnice
Mon Jan 04, 2016 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Getting health insurance for recent immigrant, above 65 in CA
Replies: 3
Views: 399

Re: Getting health insurance for recent immigrant, above 65 in CA

medi-cal or medicaid in california has essentially eliminated all asset tests: http://healthconsumer.org/New_Health_Law_CA_IssueBrief_2_Final.pdf it's also possible to buy into medicare - but I think you have to have lived in the US for 5+ years: http://www.aarp.org/health/medicare-insurance/info-0...
by mnnice
Sun Jan 03, 2016 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Getting health insurance for recent immigrant, above 65 in CA
Replies: 3
Views: 399

Re: Getting health insurance for recent immigrant, above 65 in CA

According to this http://www.coveredca.com/individuals-and-families/getting-covered/immigrants/ If she is her legally she could get either medi-cal or covered ca. If IRC Med-cal still has asset limits that are pretty low. Covered CA requires an income above poverty. I have a family member in CA that...
by mnnice
Sat Jan 02, 2016 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing term life from AIG - should we sign my wife up now or wait until after the baby?
Replies: 4
Views: 445

Re: Purchasing term life from AIG - should we sign my wife up now or wait until after the baby?

Most pregnant woman in their third trimster of pregnancy are not going to qualify for the lowest rates due to weight :wink:

Wait til this summer :happy
by mnnice
Tue Dec 01, 2015 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2016 Obamacare-> What happens if make less than poverty level ($11800) in a state that didnt expand Medicaid?
Replies: 16
Views: 2612

Re: 2016 Obamacare-> What happens if make less than poverty level ($11800) in a state that didnt expand Medicaid?

Looks to me like you need more income (roth conversions, earned income, more dividends as a PP suggested) Or move to one of the 31 states that expanded Or be uninsured and take your chances Or as a total long shot take/find the rare part time job with insurance. I have an aqaintance with a part time...
by mnnice
Tue Sep 01, 2015 8:12 am
Forum: Personal Finance (Not Investing)
Topic: About to close on a home we have overbid on - have cold feet
Replies: 74
Views: 10737

Re: About to close on a home we have overbid on - have cold feet

*laughing* Oops. My bad. I didn't read SFO. Never mind....[/quote] I read the post twice. First as written and then with the last zero dropped off. It really helped my lcol midwestern brain comprehend. I think the no green card is a way bigger deal than any issues with this deal. While the powerline...
by mnnice
Sun Aug 16, 2015 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Cash in the house
Replies: 80
Views: 7403

Re: Cash in the house

We had a house fire and burnt up about $1200.
I have been anxious about having much cash in the house since.

OTOH We got no grief about it from the insurance co. Its replacement value was $1200 :wink:
by mnnice
Tue Aug 04, 2015 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: ACA (ObamaCare) Subsidy - Early Retirement
Replies: 18
Views: 1817

Re: ACA (ObamaCare) Subsidy - Early Retirement

Alternatively, If you are in a state that expanded medicaid maybe medicaid is the best answer for 2015 and 2016. Use ACA later at 62-65. Medicaid tends to be a very poor choice for most people. You will find that most of your existing healthcare providers will not accept it. I would really hestitat...
by mnnice
Tue Aug 04, 2015 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: ACA (ObamaCare) Subsidy - Early Retirement
Replies: 18
Views: 1817

Re: ACA (ObamaCare) Subsidy - Early Retirement

Alternatively, If you are in a state that expanded medicaid maybe medicaid is the best answer for 2015 and 2016. Use ACA later at 62-65. Medicaid tends to be a very poor choice for most people. You will find that most of your existing healthcare providers will not accept it. I would really hestitat...
by mnnice
Tue Aug 04, 2015 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: ACA (ObamaCare) Subsidy - Early Retirement
Replies: 18
Views: 1817

Re: ACA (ObamaCare) Subsidy - Early Retirement

Alternatively, If you are in a state that expanded medicaid maybe medicaid is the best answer for 2015 and 2016. Use ACA later at 62-65.
by mnnice
Tue Jul 28, 2015 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Closing Costs with No Bank Loan
Replies: 9
Views: 1337

Re: Closing Costs with No Bank Loan

We did a cash deal for a similiarly priced home in May. Total was $636 $149 broker admin fee $250 closing fee $50 abstact search $175 title exam $12 recording fee I would argue if you have searched comps on your own and have a decent understanding of your market an apprasial is most likely a waste o...
by mnnice
Tue Jun 09, 2015 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Your Home Equity / Net Worth Ratio?
Replies: 119
Views: 9173

Re: Your Home Equity / Net Worth Ratio?

Just bought home with cash
10-15% of net worth
by mnnice
Mon Apr 27, 2015 10:29 am
Forum: Personal Finance (Not Investing)
Topic: (Living) Irrevocable Trusts 101 - Answers and Questions
Replies: 17
Views: 2056

Re: (Living) Irrevocable Trusts 101 - Answers and Questions

Could somebody explain to me why they are so common among the farming folks (specifically SE SD and SW MN where I used to live)? It seems to me to be a very expensive and inflexible way to structure your assets (in this example land). I know several people IRL that have them that will never have an ...
by mnnice
Fri Apr 24, 2015 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Advice For Buying A House From A Big-Box Builder
Replies: 11
Views: 2105

Re: Advise For Buying A House From A Big-Box Builder

Take lots of pictures during construction, of everything, even things that do not seem important or that you know nothing about. Insist on "home runs" for cable and phone wiring to EVERY room. I would want 12 gauge wiring through out the home, with 20 amp circuit breakers for every circui...
by mnnice
Wed Apr 22, 2015 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Friend's house burnt, Helping him start new financial life?
Replies: 20
Views: 2665

Re: Friend's house burnt, Helping him start new financial li

Unread postby Flashes1 » Tue Apr 21, 2015 4:08 pm Smells fishy. I'd tell him to go fly a kite no offence but When you will get burned in your own home, let me know how you smell..fishy or or something else..[/qu Flashes1 is correct. If you want to help fine. If you are being asked to help from some...
by mnnice
Thu Feb 12, 2015 4:30 pm
Forum: Personal Consumer Issues
Topic: Valentine’s day dinner I could cook?
Replies: 40
Views: 3044

Re: Valentine’s day dinner I could cook?

This isn't a direct answer, but it may help. The past few years I have just gone shopping with my SO to whole foods (a treat for a BH!) or some other fancy specialty market. We walk around and take our time and decide what we want or what sounds good as we shop. We buy all those expensive delicious...
by mnnice
Fri Jan 09, 2015 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Medicaid and Roth Conversion / Gain Harvesting?
Replies: 23
Views: 2612

Re: Medicaid and Roth Conversion / Gain Harvesting?

I am in a similar situation to the OP. After our employee sponsored insurance ended last summer I consulted the healthcare.gov sight and we ended up with Medicaid for the kids and an unsubsidized ACA plan for the adults. This year we will all be on Medicaid. I was working under the assertion that we...
by mnnice
Mon Nov 17, 2014 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding When to Retire
Replies: 47
Views: 6644

Re: Deciding When to Retire

You are ready. Plus you make room for someone else to move up to a job that they do need.

46 and retired. It just comes down to cash flow and mentally getting over that fact that your savings are going to go down, not up. That is what you saved money for.
by mnnice
Thu Nov 13, 2014 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Retirement regrets: too much in 401k
Replies: 19
Views: 4412

Re: Retirement regrets: too much in 401k

I'm a little confused. I presume you qualified for medicaid based on low income and assets? or did you just qualify now under the new3 law? Many states don't have any asset tests. My state doesn't. When my employee sponsored health insurance ended this fall I looked at ACA plans. My application tol...
by mnnice
Thu Nov 13, 2014 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Revocable to Irrevocable Living Trust
Replies: 7
Views: 1304

Re: Revocable to Irrevocable Living Trust

My DH's parents have placed their ag land in an irrevocable trust. Currently FIL and MIL are the beneficiaries of the trust. DH and his two siblings will be when they both pass. DH personally hates it. In his case the dynamics of this situation is that it is an attempt to control from beyond the gra...
by mnnice
Wed Nov 05, 2014 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Tough spot, decided to lease a car
Replies: 209
Views: 17286

Re: Tough spot, decided to lease a car

You fear about car repairs I think is traceable to the lack of an emergency fund. Without an emergency fund, any irregular expense adds to your debt, and you correctly want to get out of debt. That's one reason you need a big-picture solution, not a car-lease solution. With an emergency fund, you c...
by mnnice
Wed Oct 22, 2014 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Smart people, please help us (agriculture exemption)
Replies: 21
Views: 2120

Re: Smart people, please help us (agriculture exemption)

This is a very local issue and will vary according to your state, county, township, etc. I doubt anyone can be of much help without pretty detailed info about your location. I know my uncle in Colorado does something similar to lower his taxes. I am sure it has saved their household six figures by n...
by mnnice
Fri Oct 10, 2014 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Strategies for earned income in early retirement
Replies: 1
Views: 503

Strategies for earned income in early retirement

This spring DH and I found ourselves with 30x annual expenses in our IRA's, Roths and taxable combined :D . Then within a week or two of each other we found ourselves laid off :o . We ended up using as an opportunity to move to a new area and starting our initial period of being retired/semi-retired...
by mnnice
Tue Oct 07, 2014 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Financial preparation for a Disaster Event
Replies: 25
Views: 3510

Re: Financial perparation for a Disaster Event

We have lived through a fire. A couple of comments. Fireproof safes do work :D , but in our case many things were scorched and smelled really bad :annoyed . Also plan on having your current insurer drop you like a hot potato :twisted: . Who was your insurer? Safeco. Honestly, I think it is pretty c...
by mnnice
Tue Oct 07, 2014 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Financial preparation for a Disaster Event
Replies: 25
Views: 3510

Re: Financial perparation for a Disaster Event

We have lived through a fire. A couple of comments. Fireproof safes do work :D , but in our case many things were scorched and smelled really bad :annoyed . Also plan on having your current insurer drop you like a hot potato :twisted: We were renting a home owned my an elderly family member. I was g...
by mnnice
Tue Oct 07, 2014 9:27 am
Forum: Personal Consumer Issues
Topic: Road trip to Chicago with kids- what to do/recommendations?
Replies: 44
Views: 4146

Re: Road trip to Chicago with kids- what to do/recommendatio

I don't know where you live, but I would consider buying a science museum pass from you local science museum (if you have one) instead of the city pass. I think it would be cheaper even if you did the Aquarium or the Art Institute ala carte. It can be used lots of other places too. http://astc.org/m...
by mnnice
Tue Sep 16, 2014 5:36 pm
Forum: Personal Consumer Issues
Topic: [can my family live in a] Tiny house
Replies: 60
Views: 5337

Re: Tiny house movement.

Not a tent but something like this may works http://www.tumbleweedhouses.com/products/whidbey/ Have you added up the dimensions of ground level and loft? This is NOT a 500sqft home. And it's not 1BR, 1BA, as stated at the bottom. Looks to be about 1,000sqft, with 2BR + large loft. Even so, the furn...
by mnnice
Tue Sep 16, 2014 5:07 pm
Forum: Personal Consumer Issues
Topic: Good hobby for a bright/obsessive 9 year old?
Replies: 73
Views: 4484

Re: Good hobby for a bright/obsessive 9 year old?

I always wished that this had existed when I was a bit younger: http://www.firstlegoleague.org/ The First Lego League is for elementary school, then they have more advanced programs for middle school and high school. At a high school level they use industrial grade control hardware =) +1 that was t...
by mnnice
Tue Sep 16, 2014 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 11692

Re: Any success stories of ppl who never made >$50,000?

I have been a k12 educator my whole working life. I have had one yearly contract that was more than $50k. DH has made more, but never more than $80k. We have two children, started our careers with school loans, we have had no major windfalls, and zero inheritance. DH and I entered the two comma club...
by mnnice
Thu Aug 28, 2014 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Liability Insurance without Home or Car Insurance
Replies: 4
Views: 460

Re: Liability Insurance without Home or Car Insurance

I am not any sort of insurance expert, but in my searches for renter's insurance I have found that the amount of personal property coverage you have does not move the premium much (i.e. $70,000 of personal property only cost $20 per year [5% more] about more than $50,000) . In other words, most rent...
by mnnice
Mon May 19, 2014 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: When did you tell your children how much you had amassed
Replies: 135
Views: 12755

Re: When did you tell your children how much you had amassed

Don't answer this question in isolation. Also ask "When do I want to tell all the students at my children's school, their parents and their teachers how much I have amassed?" (probably never) You probably also want to ask "Do my children know what $1M means?" (I doubt it) and &q...
by mnnice
Tue Feb 18, 2014 2:19 pm
Forum: Personal Consumer Issues
Topic: Good Idea to Sell Old Home To Upgrade To Newer Home?
Replies: 33
Views: 2529

Re: Good Idea to Sell Old Home To Upgrade To Newer Home?

I personally can't stand split level floor plans. DH wanted to bid on a house nearby with that floor plan and he ended up a bit upset with me because I just didn't like it. So I definitely see that no amount of remodeling would fix it. I'd rather have a 1920 or 1930's house personally. :wink: I do t...
by mnnice
Mon Jan 13, 2014 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: School District Not Allowing me To Invest
Replies: 82
Views: 8626

Re: School District Not Allowing me To Invest

I totally commiserate and I am in a similar situation. I found that Security Benefits via the Sharebuilder platform was the least lousy of my choices. My districts list and yours have quite a bit of overlap. Right now I am putting my current elections into Pimco Total Bound Fund in my Security Benef...
by mnnice
Sat Sep 07, 2013 8:16 pm
Forum: Personal Consumer Issues
Topic: How Much Did You Spend on Your Engagement Ring??
Replies: 289
Views: 25666

Re: How Much Did You Spend on Your Engagement Ring??

DH didn't buy one. He looked both by himself and with me and always returned empty handed. I thought at 15, 20, 25 years old that I wanted a round solitaire with a Tiffany type setting. IRL I thought emerald cut was prettier on my long skinny fingers. I also found engagement rings uncomfortable. We ...
by mnnice
Wed Sep 04, 2013 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Break in Health Insurance Coverage
Replies: 30
Views: 1644

Re: Break in Health Insurance Coverage

We did something similar in 2012. Group coverage ended 3-3-2012 new group coverage started 5-1-2012. We stayed healthy and skipped COBRA. We would have bought if we had healthcare that was more than the deductible plus the premiums. It is the only time I know that you can by insurance retroactively....
by mnnice
Tue Aug 20, 2013 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: At what price point would you lease my house?
Replies: 12
Views: 1182

Re: At what price point would you lease my house?

If you don't have plans to move back into it, I would sell it unless you can get at least your monthly expenses ~$1500 + expected maintenance + a premium for your time and effort. $1750 might be enough for some people, others may not consider it worth it unless they get much more. eta: your homeown...
by mnnice
Tue Aug 20, 2013 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Sometimes Safer NOT to Carry Homeowners Insurance (!?)
Replies: 59
Views: 5717

Re: Sometimes Safer NOT to Carry Homeowners Insurance (!?)

I think the liability is the best reason to have HO or renter's insurance. I also think most people the OP included think that the value of the house is your max exposure or loss of assets if there is a fire. This is so not the case. If you have a fire or tornado you are on the hook for clean up if ...
by mnnice
Sun Aug 11, 2013 5:58 pm
Forum: Personal Consumer Issues
Topic: Clark Howard - Used cars vs New cars
Replies: 8
Views: 2064

Re: Clark Howard - Used cars vs New cars

I read a similar AP article a couple of weeks ago.

It got me thinking and looking at used cars when previously I had been thinking new. The last two car purchases we made were new.

I did just buy a 2010 Prius. I payed 17k for a very low mileage car.
by mnnice
Fri Jul 26, 2013 9:01 pm
Forum: Personal Consumer Issues
Topic: Roofing materials
Replies: 21
Views: 1786

Re: Roofing materials

Metal roofs have gotten much more common in Northern and Central WI.

A friend who lived in the Shawano area said it was actually cheaper on her house.

If that is the case it would be a no brainer since IMO it is also asthetically superior as well.
by mnnice
Fri Jul 26, 2013 8:53 pm
Forum: Investing - Help with Personal Investments
Topic: My wife and I have inherited two variable annuities...
Replies: 58
Views: 5454

Re: My wife and I have inherited two variable annuities...

Retread wrote:
Otops wrote:You are correct. Technically my wife inherited them.

Not just technically - your wife inherited them.
Bruce


OP did not give his location. If they are in a community property state and have no prenup it is their asset even if she inherited it.
by mnnice
Wed Jul 24, 2013 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to save for the rest of 2013
Replies: 4
Views: 1283

Re: How to save for the rest of 2013

Thanks everybody.

I think the advice for Roth's for 2013 and keeping our AGI under 100k for 2014 makes sense.

You are right Bob SD has no income tax, we will have to file as non residents in MN. The good news is that I think I can make about 50k before the tax kicks in.

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