Search found 32 matches

by ColoradoRob
Tue Sep 11, 2018 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to HSA this year?
Replies: 9
Views: 831

Re: Can I contribute to HSA this year?

I'm no expert, but maybe evaluating which is a better option for your married situation is the real question: keep her FSA with 2018 contribution limit of $2650? Or drop the FSA and pursue the HSA which has a 2018 contribution limit of $6900. Given that your employer is / could be making contributio...
by ColoradoRob
Fri Aug 24, 2018 4:21 pm
Forum: Personal Consumer Issues
Topic: PDF to Excel Conversion for iMac
Replies: 5
Views: 345

Re: PDF to Excel Conversion for iMac

I have excel, on a iMac, and (had) a Computershare account with pdfs of account activity. Unfortunately, what I always found with the Computershare pdf's was that they were snapshots, or pictures of activity and one cannot easily copy/paste or export the data from the pdf over to excel. The data was...
by ColoradoRob
Wed Jul 18, 2018 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Assessment
Replies: 11
Views: 1336

Re: Personal Finance Assessment

For the DIY types, what is the best way to assess your entire financial situation? Are there forms or online sites one could use to plug in their situation and obtain advice? I realize I could hire a personal financial advisor and get professional advice, however, I'd like to give it a go myself fi...
by ColoradoRob
Thu Jul 12, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Selecting HSA custodian
Replies: 14
Views: 1124

Re: Selecting HSA custodian

I second that advice on going with Lively. I'm very surprised and pleased with how decent they are as an HSA provider. Monthly investing fee comes out of an external (bank) account rather than from draining funds from within the HSA itself (which saps returns over time). That alone is reason enough ...
by ColoradoRob
Wed Jul 11, 2018 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

I definitely wouldn't buy the house now (why let the brother off the hook for the on-going payments?) But be prepared to pay off the loan in the future, by PURCHASING THE HOUSE. If you own it, then you don't have to worry about your mother changing her will, or getting another loan. Let her live th...
by ColoradoRob
Wed Jul 11, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

Are you capable of taking on this loan? Is the house worth about 200k or more? If yes to both of those this is what I would do: 1) You pay off the loan, and it could be from a loan in your name. 2) Mom wills the house to you, this would compensate for you the paying off of the loan. Now you could p...
by ColoradoRob
Wed Jul 11, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

I wouldn't get involved financially in anyway other than to start saving for the day that you may need to help Mom with her expenses, and start seriously leaning on your brother like seriously pestering him to do the right thing. I suspect with the limited amount of info, he does not have the cash ...
by ColoradoRob
Wed Jul 11, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

Are you capable of taking on this loan? Is the house worth about 200k or more? If yes to both of those this is what I would do: 1) You pay off the loan, and it could be from a loan in your name. 2) Mom wills the house to you, this would compensate for you the paying off of the loan. Now you could p...
by ColoradoRob
Wed Jul 11, 2018 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

Have you seen the loan documents? Did your parents sign the promissory note and hand the proceeds over to your brother? Or was your brother the signer on the note and your parents granted a lien on their house to secure his obligation on the note (as in the nature of a non-recourse guarantor)? Does...
by ColoradoRob
Wed Jul 11, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

This thought just crossed my mind and must be addressed regardless of all other considerations. Should your brother pass away prior to the loan being fully repaid he must make iron-clad provision for the debt to be paid off in full from his estate. If it cannot be paid with liquid assets he must pr...
by ColoradoRob
Wed Jul 11, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

Luke Duke wrote:
Wed Jul 11, 2018 8:45 am
How much is the house worth?
My guess is that her home is valued at between $125k-130k, so it is leveraged to the hilt.
by ColoradoRob
Wed Jul 11, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

did your parents borrow and make payment to the prior owner directly or through the brother’s account. Perhaps your mother can argue somehow that she owns the business. That might get him to payoff the loan. No they did not. That is a good thought, but my parents essentially gave my brother free ac...
by ColoradoRob
Wed Jul 11, 2018 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

I assume there is no written agreement that could be used to force your brother to take out a business loan or use some other method to pay off the HELOC? That is unfortunately correct - there is no written agreement between my mother & brother. And I also assume that your mother does not have enou...
by ColoradoRob
Wed Jul 11, 2018 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

did your parents borrow and make payment to the prior owner directly or through the brother’s account. Perhaps your mother can argue somehow that she owns the business. That might get him to payoff the loan. No they did not. That is a good thought, but my parents essentially gave my brother free ac...
by ColoradoRob
Tue Jul 10, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Re: Home equity loan for a business quandary

delamer wrote:
Tue Jul 10, 2018 7:42 pm
I assume there is no written agreement that could be used to force your brother to take out a business loan or use some other method to pay off the HELOC?
That is unfortunately correct - there is no written agreement between my mother & brother.
by ColoradoRob
Tue Jul 10, 2018 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1410

Home equity loan for a business quandary

A decade ago, my brother bought a business using a home-equity loan with collateral from my parents’ home. Even though their house was long ago paid off, they went along with it and took out the loan for $110k. My brother promised to quickly pay off the loan or to convert it into a business loan in ...
by ColoradoRob
Wed May 02, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Optum HSA Fee Increase Notice
Replies: 16
Views: 2127

Re: Optum HSA Fee Increase Notice

I just checked my account and the fee is for an average balance of $500 :oops: (not $5000 ) You scared me there for a moment. :beer Curiously, my previous employer still pays that fee for me. I re-checked the Optum notice and sure enough it is $5000 (and sadly not $500) for me. I guess this shows t...
by ColoradoRob
Tue May 01, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Optum HSA Fee Increase Notice
Replies: 16
Views: 2127

Optum HSA Fee Increase Notice

This is just a notice to any OPTUM HSA users out there that, as of April 2018, OPTUM is raising their fees by $1 per month on users who do not park at least $5,000 in the cash-side of the HSA. Any funds invested on the investment side of the HSA do not count toward that $5k average balance. $5k sitt...
by ColoradoRob
Fri Jan 12, 2018 9:41 am
Forum: Personal Consumer Issues
Topic: Paid mortgage: Now what do I do?
Replies: 21
Views: 3006

Re: Paid mortgage: Now what do I do?

Well done! In addition to taking the lead for paying your property taxes (as opposed to your mortgage company paying it out of escrow) you could ask for the lien-release document from the mortgage holder to be sent to you. It should be a document that shows that your loan is paid in full. Don't burn...
by ColoradoRob
Wed Jan 03, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Downloading eStatements from Schwab
Replies: 4
Views: 516

Re: Downloading eStatements from Schwab

Is there an easier way to download eStatements from Schwab? It is pathetically cumbersome and painful to pull statements, trade confirmations, tax forms from the various accounts… If anyone has a better way to receive these e-statements, please kindly advise. Many thanks. If you go to the page list...
by ColoradoRob
Tue Jan 02, 2018 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Downloading eStatements from Schwab
Replies: 4
Views: 516

Downloading eStatements from Schwab

Is there an easier way to download eStatements from Schwab? It is pathetically cumbersome and painful to pull statements, trade confirmations, tax forms from the various accounts… If anyone has a better way to receive these e-statements, please kindly advise. Many thanks.
by ColoradoRob
Sun Dec 17, 2017 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Military Deployment Help—TSP Optimization
Replies: 17
Views: 1950

Re: Military Deployment Help—TSP Optimization

In case I was not clear- Yes, it would be wise to max out your RothTSP in months prior to deployment in April. Then you can focus your effort on TradTSP contributions. Whichever you do, it'll be a challenge since DFAS will not allocate more than 92% of your pay toward TSP. Also, I dug up and copied ...
by ColoradoRob
Sun Dec 17, 2017 8:39 pm
Forum: Investing - Help with Personal Investments
Topic: Military Deployment Help—TSP Optimization
Replies: 17
Views: 1950

Re: Military Deployment Help—TSP Optimization

1. SDP is a not as easy as one would think. You should try to contribute, but the pay clerks aren't enthusiastic about helping. If memory serves correctly, it is best to write a check out of your personal (savings) account and have the pay clerks deposit the funds into the SDP--rather than diverting...
by ColoradoRob
Sun Nov 05, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Trade QUICKEN for Spreadsheet
Replies: 28
Views: 2591

Re: Trade QUICKEN for Spreadsheet

I have to say that this template from Microsoft has really revolutionized my personal finances and helped me ditch Quicken years ago. It has several tabs to track spending--I use the monthly tab and have since tailored the whole thing to my needs. Maybe it'll be worthwhile to you. The link is: https...
by ColoradoRob
Fri Feb 17, 2017 1:23 pm
Forum: Investing - Help with Personal Investments
Topic: Excessive Optum Bank HSA fees vs HSA Bank vs SelectAccount?
Replies: 30
Views: 8272

Re: Excessive Optum Bank HSA fees vs HSA Bank?

$66/yr in fees for a $50k HSA balance is 0.1% in fees plus access to admiral shares at Optum. I think you are overthinking this decision based on the fact that all HSA custodians charge a fee for investment access. I'm no HSA expert, but I agree with BFizz completely. I don't like Optum's $3 fee ei...
by ColoradoRob
Tue Dec 06, 2016 10:42 am
Forum: Investing - Help with Personal Investments
Topic: So the ROTH is maxed, 403B maxed... am I leaving anything out?
Replies: 11
Views: 1622

Re: So the ROTH is maxed, 403B maxed... am I leaving anything out?

I second the HSA recommendation (triple tax advantaged!).
Does your employer offer you access to a 457? If so, you should look into contributing to that too. Maximum 457 contribution for 2016 is $18k. That limit is separate from contributions to any 401k/403b.
by ColoradoRob
Thu Dec 01, 2016 9:05 am
Forum: Personal Finance (Not Investing)
Topic: HSA Contribution Eligibility 'Validation' ?
Replies: 6
Views: 844

Re: HSA Contribution Eligibility 'Validation' ?

Thank you - those are all great replies. Spirit Rider hits the nail on the head and it states exactly what I'm worried about: how to prove my eligibility when the system matures to a point when they start going after people for supposed fraud? As for keeping a record of HDHP enrollment (which is an ...
by ColoradoRob
Wed Nov 30, 2016 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Contribution Eligibility 'Validation' ?
Replies: 6
Views: 844

HSA Contribution Eligibility 'Validation' ?

Does anyone (such as the I R S) validate that a contribution made in a particular year to an HSA was valid and allowable? The rules are that one has to have a qualified health insurance plan (an HDHP) in order to make contributions in a calendar year. Contributions get reported on the 5498-SA. But w...
by ColoradoRob
Fri Oct 21, 2016 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Transitioning from Military
Replies: 21
Views: 2916

Re: Transitioning from Military

Thanks for the heads up. That is crazy. I was shocked that they target pensions and investment income. Also can't believe that even if you have insurance as in our case military tricare which covers almost 100% that we still have to pay. Amendment 69 would probably take Colorado off the retirement ...
by ColoradoRob
Fri Oct 21, 2016 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Transitioning from Military
Replies: 21
Views: 2916

Re: Transitioning from Military

Thanks for the heads up. That is crazy. I was shocked that they target pensions and investment income. Also can't believe that even if you have insurance as in our case military tricare which covers almost 100% that we still have to pay. Amendment 69 would probably take Colorado off the retirement ...
by ColoradoRob
Thu Oct 20, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Transitioning from Military
Replies: 21
Views: 2916

Re: Transitioning from Military

You seem to have done some thorough analysis of your situation which likely means that you will be fine no matter where you go or what you do. One thing you should be aware of if you're considering moving to Colorado: the proposed state constitutional amendment to provide free health care for Colora...
by ColoradoRob
Thu Aug 27, 2015 9:23 am
Forum: Investing - Help with Personal Investments
Topic: Military TSP v. Roth TSP
Replies: 22
Views: 2427

Re: Military TSP v. Roth TSP

Thank you for walking me through the tax implications of roth v. traditional. It seems that the Roth TSP is a better choice for us for the next few years. As my husband receives raises/promotions, we will reevaluate to see when we might cross into 25% territory. Now if you will humor me another rel...