Search found 153 matches

by talzara
Thu May 19, 2016 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Hail damage on roof; what to do with Insurance Providers' $9,950 check
Replies: 51
Views: 3751

Re: Hail damage on roof; what to do with Insurance Providers' $9,950 check

Somewhat relevant here, I don't think homeowners insurance is like auto insurance. A pattern of claims or ticket where you are at fault changes your risk profile, so premiums tend to go up. Hard to argue that a claim for hail damage or ice damage has any bearing on the potential for future claims. ...
by talzara
Sun May 15, 2016 1:05 am
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance for low annual mileage
Replies: 19
Views: 1193

Re: Auto Insurance for low annual mileage

A few years ago, GMAC would give a discount if you allowed them to monitor your mileage via OnStar. GMAC changed its name to National General in 2013, and they still offer verified mileage discounts for vehicles equipped with OnStar: http://www.nationalgeneral.com/auto-insurance/smart-discounts/low...
by talzara
Sat May 14, 2016 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance for low annual mileage
Replies: 19
Views: 1193

Re: Auto Insurance for low annual mileage

Is there any insurance company that provides a mileage based insurance? Am I right to think the premiums for on a low mileage driving would be lower than a regular premium? All of the major insurers except GEICO offer Usage-Based Insurance. UBI is pitched as a way for safe drivers to save money by ...
by talzara
Mon May 09, 2016 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: How to choose homeowner's insurance?
Replies: 21
Views: 1843

Re: How to choose homeowner's insurance?

For example my mortgage is 260k (original 270k) but the house and land price is estimated at $400k+. The dwelling is covered for 300k. I assume if my home were a total loss today I'd get $300k from the insurance company, pay off the loan, and only have $40k left to work with to build another home ?...
by talzara
Mon May 09, 2016 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: How to choose homeowner's insurance?
Replies: 21
Views: 1843

Re: How to choose homeowner's insurance?

My house is my most expensive purchase and I don't like to take risks with my largest physical asset, but the more I learn or deal with homeowners insurance the more it feels like some kind of a scam the mob made up. Paying top dollar for protection but if you use it, your going to have to pay up m...
by talzara
Mon May 09, 2016 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to choose homeowner's insurance?
Replies: 21
Views: 1843

Re: How to choose homeowner's insurance?

In my area (coastal SoCal), the value is mainly the land not the house. In fact, some lots may be worth more without a house. A rough breakdown for our property is: Land 1.1M, House 400k. But depending on the website, house is worth 390-520k which makes a difference for insurance. The least expense...
by talzara
Tue Apr 19, 2016 4:18 pm
Forum: Personal Consumer Issues
Topic: Small packages delivered from China
Replies: 14
Views: 1587

Re: Small packages delivered from China

You could ask the seller who paid for it. Each parcel should have a customs form with a return address. There should be a phone number or an email address. Since the company is doing business in the U.S., someone there is bound to speak English. Skype charges just 2 cents a minute to call China. I d...
by talzara
Mon Apr 18, 2016 2:40 pm
Forum: Personal Consumer Issues
Topic: [Need umbrella insurance but current condo carrier does not offer it]
Replies: 8
Views: 793

Re: [Need umbrella insurance but current condo carrier does not offer it]

When you paid your premium is irrelevant. You'll get a full prorated refund whether you paid is last week or six months ago. Not necessarily. Florida allows short-rated refunds, so it would depend on what the policy says. Under this rule, the use of short rate cancellation tables or procedures that...
by talzara
Mon Apr 18, 2016 2:28 pm
Forum: Investing - Theory, News & General
Topic: Vanguard new Muni ETF - Why is it a "long-term bond fund?"
Replies: 7
Views: 1150

Re: Vanguard new Muni ETF - Why is it a "long-term bond fund?"

Hello. I recently sold my shares of MUB (iShares National Muni Bond) to invest in Vanguard's new muni bond fund (VTEB). I was under the impression that Vanguard's ETF was covering the same index as MUB, just with a lower fee. However, Vanguard classifies this ETF as a long-term bond fund. They also...
by talzara
Sat Apr 16, 2016 5:01 pm
Forum: Personal Consumer Issues
Topic: [Need umbrella insurance but current condo carrier does not offer it]
Replies: 8
Views: 793

Re: [Need umbrella insurance but current condo carrier does not offer it]

This post from 2012 mentions several companies that sell standalone umbrella policies. They don't sell directly, so you'll need to go through an agent: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=102121 If you ever drive a rental car or someone else's car, be very careful to follow all ...
by talzara
Sat Apr 09, 2016 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertent Excess IRA Contribution in my Son's Account
Replies: 9
Views: 670

Re: Inadvertent Excess IRA Contribution in my Son's Account

Thanks for the additional information. The college is definitely characterizing it incorrectly. Since your son was helping to teach high school students, it cannot be considered a scholarship, as the position is not primarily for his educational benefit. It would be very similar to a graduate studen...
by talzara
Sat Apr 09, 2016 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertent Excess IRA Contribution in my Son's Account
Replies: 9
Views: 670

Re: Inadvertent Excess IRA Contribution in my Son's Account

Tbh, I am shocked at how cavalier Yale has been about the reporting. My son has spent a lot of time trying to get clear and consistent answers, and has concluded that they don't care; he says the view seems to be that he should be happy that no taxes are being taken out and to leave them alone. I w...
by talzara
Sat Apr 09, 2016 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertent Excess IRA Contribution in my Son's Account
Replies: 9
Views: 670

Re: Inadvertent Excess IRA Contribution in my Son's Account

I beg your pardon. I'm getting two different issues entangled here. First, is it earned income? Here's how student employment is handled at other top universities: Work-Study earnings are taxable and generate a W-2 form. When calculating all income for the tax year, include your Work-Study earnings....
by talzara
Fri Apr 08, 2016 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertent Excess IRA Contribution in my Son's Account
Replies: 9
Views: 670

Re: Inadvertent Excess IRA Contribution in my Son's Account

Your son has not made an excess Roth IRA contribution. Scholarships are taxed as earned income if there was payment for services. Any amount that was not reported on the W-2 should be added to line 7, with "SCH" entered on the dotted line. See Publication 970 and the instructions for form ...
by talzara
Wed Mar 30, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

"If you're a doctor in New York City, then you're a litigation magnet, and you probably take the subway to work. You have very little auto risk, and you have a lot of other risk. Umbrella insurance is tailor-made for your needs." Does umbrella policy cover malpractice and other business-r...
by talzara
Wed Mar 30, 2016 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

Perhaps the 85% risk from historical payouts based on the limited pool of people who have actually chosen to buy umbrella insurance have come from auto claims. But that might not be the proper pool of people from which to draw a statistical inference about whether umbrella is needed. I suspect the ...
by talzara
Tue Mar 29, 2016 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

I just want to say I am really enjoying your participation in this thread. We have had many umbrella liability threads, but very few where posts were backed up by concrete data (assuming you have good sources for the information you are presenting). I'm glad that you're finding the information usef...
by talzara
Tue Mar 29, 2016 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

The second, which is a more general question, is I was curious why the premium differences would be so different based on geographic area. I can see why flood-prone areas would have higher disaster insurance rates. Are people in South Florida worse drivers, or is it that the judgments are higher wh...
by talzara
Tue Mar 29, 2016 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

Perhaps I am worse than I thought at using internet search engines, but are there data about the number of claims that have been paid by umbrella insurance for a given (recent) year? By state? The rate filings for large national insurance companies show that about 0.03% of policies in force pay out...
by talzara
Tue Mar 29, 2016 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

Do you have a source for those statistics? I'm looking into umbrella myself and am researching the issue currently. This one says that the umbrella risk by dollar value is 87% auto and 13% homeowners: http://www.genre.com/knowledge/publications/insurance-issues-201309pu-en.html Personal injury cove...
by talzara
Tue Mar 29, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

I think the big reason for the savings was that the liability policy for our insurance company charged the same rate for all youths- boys/girls, age 16 vs age 24, no good student or driver safety discounts, etc. Very few discounts are available for umbrella insurance. GEICO's rate filing for its au...
by talzara
Mon Mar 28, 2016 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

This one is easy - the policyholder has a "bad faith" claim with their insurer, collects $5.7M in damages, plus potentially punitive damages. Your insurance company really does want what is best for you. It is in their best interest to negotiate the best possible settlement Easy, you say?...
by talzara
Mon Mar 28, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

Someone correct me if I'm wrong, but if you have an umbrella policy and are sued, the insurance company provides lawyers in an attempt to minimize payout. That a substantial benefit. Or a substantial danger. Sometimes, it's actually worse for you if the insurance companies hires a lawyer. There was...
by talzara
Mon Mar 28, 2016 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

Doesn't an umbrella policy cover more things than the combination of auto + home would cover? Yes. However, it's very long-tail risk. Umbrella insurers generally price their policy based on just two things: motorized vehicles and property. Motorized vehicles includes watercraft, and property includ...
by talzara
Mon Mar 28, 2016 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Re-thinking Umbrella Insurance - just up Auto/Home Instead
Replies: 80
Views: 5913

Re: Re-thinking Umbrella Insurance - just up Auto/Home Instead

I can up our auto liability to 1m/1m per person/accident for something like an extra $20/yr or so - that's cheap esp compared to umbrella. I can up our homeowners liability higher but don't have the amounts/rates quote yet but expect it to be cheap too. Auto and homeowners insurance use very sophis...
by talzara
Mon Mar 28, 2016 6:48 pm
Forum: Personal Consumer Issues
Topic: Incompatibilities with Windows 10/MSFT Edge
Replies: 11
Views: 668

Re: Incompatibilities with Windows 10/MSFT Edge

The final straw was that I needed to install a Fitbit app on my Windows 10 PC. In order to download that you had to go to a Microsoft Windows APP store and create a Microsoft account to get it. That is fair enough but when I did that without warning it changed my local PC user account to force me t...
by talzara
Mon Mar 28, 2016 6:42 pm
Forum: Personal Consumer Issues
Topic: Incompatibilities with Windows 10/MSFT Edge
Replies: 11
Views: 668

Re: Incompatibilities with Windows 10/MSFT Edge

Be advised that Microsoft Edge (the browser that replaces Internet Explorer) is not compatible with functions on the Ally banking website. For example, if you want to open or download a statement, you will need to use Chrome or IE or something other than Edge. Ally Bank's web site is compatible wit...
by talzara
Sun Mar 20, 2016 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Is this home owner's insurance increase reasonable?
Replies: 22
Views: 1586

Re: Is this home owner's insurance increase reasonable?

I have had significant increases in the last two years. I called the agent and threatened to cancel and she said these are across the board increases. It was about 10% each year. I'm going to shop homeowners and car rates on my next renewal date. Insurance agents like to say that. However, if the a...
by talzara
Sun Mar 20, 2016 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Is this home owner's insurance increase reasonable?
Replies: 22
Views: 1586

Re: Is this home owner's insurance increase reasonable?

It may not be that useful to you, but that is what I wanted to find out. Sounds like these large increases are pretty common, so I found out what I wanted to know. Thanks to those who responded. Jeesh! So you're looking for reassurance that others are in the same situation. You don't care if your r...
by talzara
Sat Mar 19, 2016 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Is this home owner's insurance increase reasonable?
Replies: 22
Views: 1586

Re: Is this home owner's insurance increase reasonable?

I was not asking people on Bogleheads to tell me if my rate is competitive. I did not even post my rate. I was just asking of others are seeing rate increases that greatly exceed inflation. That's not what you were asking, but that's what the second post in this thread was asking. It also happens t...
by talzara
Sat Mar 19, 2016 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Is this home owner's insurance increase reasonable?
Replies: 22
Views: 1586

Re: Is this home owner's insurance increase reasonable?

Insurance premiums are very complicated beasts. I've seen rate filings for homeowners insurance that take 200 steps to calculate a premium. Even "I live in NW PA" and "I live close to Louisville" aren't detailed enough, because rates may be determined by the ZIP code or even the ...
by talzara
Fri Mar 18, 2016 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: FYI H&R Block Deluxe & Foreign Tax Credit Form 1116
Replies: 15
Views: 1296

Re: FYI H&R Block Deluxe & Foreign Tax Credit Form 1116

Good to hear that you got through the form. By the way, this shows the problem with relying on tax software. In 2011, the last year with statistics available, only 3.9 million of 145 million tax returns had form 1116 attached. That's just 2.7% of returns. The software is going to have more bugs on f...
by talzara
Fri Mar 18, 2016 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: FYI H&R Block Deluxe & Foreign Tax Credit Form 1116
Replies: 15
Views: 1296

Re: FYI H&R Block Deluxe & Foreign Tax Credit Form 1116

This is my first year using H&R Block and the only area I have run into problems is with Form 1116. Didn't have problems with Part 1. It is the Part II that is posing problems for me. The only foreign income I have is from Vanguard Total Stock Market Fund's dividends. Identified the country as ...
by talzara
Mon Feb 29, 2016 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: NY estimated tax safe harbor
Replies: 5
Views: 530

Re: NY estimated tax safe harbor

The annualization factor of 2.4 for the period to May 31 is given on line 2 of worksheet 1. Fill out the worksheet to compute the annualized tax. You want to use the worksheet because it's the same worksheet that is used to calculate underpayment. That's the best way to avoid errors like this. Keep ...
by talzara
Sat Feb 27, 2016 1:31 am
Forum: Personal Finance (Not Investing)
Topic: Form 706 Review Questions
Replies: 4
Views: 467

Re: Form 706 Review Questions

Joint tenancy would be considered jointly-owned for the purposes of form 706. Property owned as a joint tenant with right of survivorship would be listed in Schedule E. On days when the market is closed, the valuation for Schedule B would be the pro-rated value. For a Saturday valuation date with th...
by talzara
Fri Feb 26, 2016 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Form 706 Review Questions
Replies: 4
Views: 467

Re: Form706 Review Questions

I'm now looking over form 706 that was prepared by an EA that my brother (executor) hired. By EA, do you mean Estate Attorney or Enrolled Agent? Of the points that you asked about, which ones did he get wrong? It would not be unusual to see errors if the preparer is not familiar with estate tax ret...
by talzara
Thu Feb 25, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: What insurance/warranty products do you consider a waste of money?
Replies: 64
Views: 4666

Re: What insurance/warranty products do you consider a waste of money?

I don't think I've ever met anyone who wasn't an above-average driver. Most consider themselves to be excellent. The famous study by Svenson (1981) found that 93% of American drivers thought that they drove better than the median driver. However, it doesn't matter whether you are a good driver or a...
by talzara
Wed Feb 24, 2016 12:30 am
Forum: Personal Finance (Not Investing)
Topic: What insurance/warranty products do you consider a waste of money?
Replies: 64
Views: 4666

Re: What insurance/warranty products do you consider a waste of money?

No it isn't the same at all. Expense ratios are lost money that give you no benefit. Insurance products are gambling where the odds are stacked against you;) It all depends your exact results. What happens if you crash your car in year one. How many years of savings would it take you to make back t...
by talzara
Tue Feb 23, 2016 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: What insurance/warranty products do you consider a waste of money?
Replies: 64
Views: 4666

Re: What insurance/warranty products do you consider a waste of money?

And extended warranties are not only usually a bad bet. They are a terrible bet imho. I hate making bad bets and refuse to do so on anything that would not be financially devastating. Extended warranties typically have a loss ratio of 25%. Paying $4 of premium for every dollar of average benefits i...
by talzara
Tue Feb 23, 2016 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: What insurance/warranty products do you consider a waste of money?
Replies: 64
Views: 4666

Re: What insurance/warranty products do you consider a waste of money?

But if something happened, I'd pay out of pocket to repair the vehicle. On the more expensive vehicles that I own (and do carry comprehensive/collision), I carry a $1000 deductible. So, a $4000 repair on the bumper of my vehicle would save me only $3000 if I had insurance, and I can pay a $3000 car...
by talzara
Tue Feb 23, 2016 4:54 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard enhanced brokerage and tax reporting
Replies: 5
Views: 605

Re: Vanguard enhanced brokerage and tax reporting

Okay, then how can it be that interest from Treasury Notes, which most obviously is not a fund, has "Vanguard Marketing Corporation", a fund distributor, as the payer? I have read countless times that fund account holders own Vanguard, so I wondered about someone going all to individual s...
by talzara
Sun Jan 31, 2016 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Employer's TIAA-CREF plan - live with it or question it?
Replies: 15
Views: 958

Re: Employer's TIAA-CREF plan - live with it or question it?

Your spouse is in the R1 share class for CREF annuities and the T4 share class for TIAA Access annuities. Both of these are for the smallest plans and carry the highest expense ratios. For example, R1 is for plans with less than $20 million in AUM at CREF. The R3 class, for plans with over $400 mill...
by talzara
Sat Jul 11, 2015 4:13 pm
Forum: Personal Consumer Issues
Topic: Rental Car Accident Scam
Replies: 5
Views: 1543

Insurance fraud

Minor damage to the bumper and nothing else, it was even noted on the police report. I was on the scene within about 20min and saw everything, but did not take pics. The insurance took care of it, but we received documents from them about what was going on; they were billed over $6500 for the accid...
by talzara
Tue May 12, 2015 5:38 pm
Forum: Personal Consumer Issues
Topic: What are potential drawback of pay-per-mile insurance?
Replies: 16
Views: 1891

Re: What are potential drawback of pay-per-mile insurance?

We are fast entering the information economy where data can be used for & against us as consumers. Charging for insurance on a per-mile basis is the first step. Once a company is collecting real time driver milage data what other behaviors might they ask to gather in return for a possibly lower...
by talzara
Tue May 12, 2015 5:36 pm
Forum: Personal Consumer Issues
Topic: What are potential drawback of pay-per-mile insurance?
Replies: 16
Views: 1891

Re: What are potential drawback of pay-per-mile insurance?

My car insurance is slowly approaching its due date and I started thinking about changing insurance company. Since I don't drive a lot (my work is in cycling distance) it looks that I could pay half or one third of premium per month using Metromile. I cannot find many reviews of it - does anyone ha...
by talzara
Tue May 12, 2015 5:19 pm
Forum: Personal Consumer Issues
Topic: What are potential drawback of pay-per-mile insurance?
Replies: 16
Views: 1891

Re: What are potential drawback of pay-per-mile insurance?

My State Farm renewal notice specifies how the vehicle is used. It says "To work, School or Pleasure Driven 7,500 miles or less annually." They never ask about any changes to that. I told them my usage was decreased when I retired (no commuting) and it has been that way since. That's not ...
by talzara
Sat Apr 25, 2015 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Stepped-up basis on TOD brokerage account
Replies: 21
Views: 2018

Re: Stepped-up basis on TOD brokerage account

There is a remarkable lack of clarity in the IRS Pubs about joint tenant account holding periods. However, IRS Pubs 550 and 544 when discussing basis adjustment do NOT treat half the shares as not getting a basis adjustment. ALL the shares get a basis adjustment to the average of the pre existing c...
by talzara
Fri Apr 24, 2015 11:22 am
Forum: Investing - Theory, News & General
Topic: Mother lode of information on Public Pension Plans
Replies: 3
Views: 953

Re: Mother lode of information on Public Pension Plans

"Alternative" investments include hedge funds, private equity, and venture capital. Sometimes it includes forestry land, but usually that is classified as Real Estate. Basically, the asset classes that David Swenson made famous when he was managing the Yale endowment. However, after he tol...
by talzara
Fri Apr 24, 2015 1:11 am
Forum: Investing - Help with Personal Investments
Topic: Stepped-up basis on TOD brokerage account
Replies: 21
Views: 2018

Re: Stepped-up basis on TOD brokerage account

Your title says "Stepped-up basis on TOD brokerage account." However, your post says that it is a "joint account." Which is it? An account titled "John Father TOD Abigail Mother" is an individual account, not a joint account. It is 100% owned by Father, and receives a 1...
by talzara
Sat Mar 21, 2015 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Secure a foreign tax credit carry forward?
Replies: 19
Views: 1734

Re: Secure a foreign tax credit carry forward?

So OP, do you understand that a foreign tax credit carry forward is essentially worthless? Thanks. I think I understand. For this year and next, my income is hovering at a very low point in order to maximize ACA benefits, so my tax liability is tiny. My income will more than double in two years, wi...

Go to advanced search