Search found 118 matches

by ModifiedDuration
Sat Aug 08, 2020 9:21 am
Forum: Personal Investments
Topic: Regular charitable giving with Fidelity DAF
Replies: 26
Views: 1250

Re: Regular charitable giving with Fidelity DAF

In practice, I expect that the paperwork and execution of a monthly donation of shares would get pretty messy. Could you make a donation of shares just once per year, and then both make grants to the charity and purchase new shares every month? If both brokerage account and DAF is at Fidelity, ther...
by ModifiedDuration
Sat Aug 08, 2020 9:14 am
Forum: Personal Finance (Not Investing)
Topic: 529 funds for off-campus housing - online classes
Replies: 4
Views: 448

Re: 529 funds for off-campus housing - online classes

This thread does bring up a good point that I would be interested in too. If a college moves to virtual/online only classes, are there adjustments to what are allowable costs to be deducted from a 529 to on or off-campus housing costs? How about refunds received from a college due to changes in ins...
by ModifiedDuration
Fri Jul 24, 2020 8:24 pm
Forum: Personal Investments
Topic: FDIC Insurance
Replies: 5
Views: 451

Re: FDIC Insurance

Tdubs wrote:
Fri Jul 24, 2020 8:13 pm
Check this FDIC website.

https://www.fdic.gov/regulations/resour ... glish.html
+1
by ModifiedDuration
Mon Jul 20, 2020 7:53 am
Forum: Personal Finance (Not Investing)
Topic: $359k in med school debt; advice for family member
Replies: 101
Views: 6997

Re: $359k in med school debt; advice for family member

You might suggest your family member check out the White Coat Investor site. The founder, an MD, is also a BH member and posts here often. He has a lot of great advice and articles for medical professionals on paying off school loans, etc. https://www.whitecoatinvestor.com/new-to-the-blog-start-her...
by ModifiedDuration
Sun Jul 19, 2020 1:11 pm
Forum: Personal Investments
Topic: Please check my 529 strategy
Replies: 16
Views: 1549

Re: Please check my 529 strategy

Well, per the University of California website, since the cost is currently $28,000 a year for tuition, books, and off-campus room and board (all of which are allowable 529 expenses) or $112,000 for 4 years, I would take advantage of the tax-free growth available (if used for allowable expenses) and...
by ModifiedDuration
Sat Jul 18, 2020 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: New RMD Schedule
Replies: 20
Views: 2106

Re: New RMD Schedule

OhioGozaimas wrote:
Sat Jul 18, 2020 6:53 am
IRS Proposes New RMD Life Expectancy Tables To Begin In 2021

https://www.kitces.com/blog/irs-propose ... n-in-2021/
Thank you. The linked pdf in here with the proposed new RMD rates is great information.
by ModifiedDuration
Tue Jul 07, 2020 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Found a $10,000 Bond from 1987 sitting in my moms paperwork
Replies: 16
Views: 3502

Re: Found a $10,000 Bond from 1987 sitting in my moms paperwork

Well, there is a mailing address for the Kenton County Airport Board here, but I might start by calling the phone number listed for Administration - (859) 767-3151 - and see if they could help you:

https://www.cvgairport.com/about/contact
by ModifiedDuration
Sat Jul 04, 2020 12:25 pm
Forum: US Chapters
Topic: The Declaration of Independence
Replies: 66
Views: 9332

Re: The Declaration of Independence

One of my favorite 4th of July historical facts is that Thomas Jefferson, author of the Declaration of Independence and, later, President of the US and John Adams, who preceded Jefferson as President both died on July 4, 1926 -- EXACTLY fifty years after the Declaration of Independence. Oops. July ...
by ModifiedDuration
Mon Jun 22, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do [we] need life insurance?
Replies: 28
Views: 2239

Re: Do [we] need life insurance?

My wife and I have had the AICPA life insurance for decades and, yeah, it is ridiculously cheap and continues to be inexpensive as you move into the higher age brackets. I would at least run the numbers on increasing the AICPA annual renewable life insurance to $2 million or $2.5 million, based on w...
by ModifiedDuration
Sat May 23, 2020 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Medical school student loan calculations
Replies: 26
Views: 1602

Re: Medical school student loan calculations

It sounds like this book has the information you are looking for to get started: https://www.amazon.com/White-Coat-Investor-Personal-Investing/dp/0991433106 It looks like you can get a used copy for just a few dollars if you want to save a little. The website is also outstanding for doctors and doc...
by ModifiedDuration
Mon May 18, 2020 10:09 pm
Forum: Personal Investments
Topic: RSUs [how long to hold]
Replies: 32
Views: 1498

Re: RSUs [how long to hold]

As a result the Tech Crash in the early 2000's, many of those holding exercised RSU's found themselves very far underwater, to the extent that when they sold their sale price did not even cover the taxes due. Add to that there were job losses. I was not personally involved, but know people that wer...
by ModifiedDuration
Sun May 17, 2020 9:54 am
Forum: Personal Investments
Topic: Approximating Total US Stock Market with S&P 500 + Extended Market?
Replies: 16
Views: 727

Re: Approximating Total US Stock Market with S&P 500 + Extended Market?

1) Institutional equivalent of Vanguard S&P 500 (like VFIAX) 2) Institutional equivalent of Vanguard Extended Market (like VEXMX) Is there a recommended percentage of 1 and 2 = 100% to approximate something like VTSAX for total US stock market? Thank You The percentages may drift around a bit over ...
by ModifiedDuration
Sun May 17, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Life Changing Decision [Mortgage Down Payment]
Replies: 17
Views: 2196

Re: Life Changing Decision [Mortgage Down Payment]

I guess I would take a different path than what some of the others suggest. With two relatively secure jobs and only $3,500 -$3,900 in monthly expenses, I would go along with your first thought and put the whole $250,000 in the down payment. With your emergency fund of about 6 months expenses alread...
by ModifiedDuration
Sun May 17, 2020 5:29 am
Forum: Personal Finance (Not Investing)
Topic: Life Changing Decision [Mortgage Down Payment]
Replies: 17
Views: 2196

Re: Life Changing Decision

Combined Retirement Accounts = $250,000 Debt = none other than mortage on new house that I discussed above Children - Ages 12,8 and 1 College savings = $20,000 HSA = $6000 Emergency Fund = 20K You did not mention having an emergency fund. With three kids and all this oddness in the world having a h...
by ModifiedDuration
Sat May 16, 2020 1:22 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 59
Views: 4303

Re: Open Social Security strategy results question

N.Y.Cab wrote:
Sat May 16, 2020 1:19 pm
I think the problem is with the negative yield on 20-years TIPS that is being used as input. I found the results to be more reasonable if the real discount rate is above .76%.
Great minds think alike. I ball parked an estimate for recent years and was using 0.80%.
by ModifiedDuration
Sat May 16, 2020 8:54 am
Forum: Investing - Theory, News & General
Topic: 529 vs gifting shares
Replies: 4
Views: 264

Re: 529 vs gifting shares

Yes, the Kiddie Tax applies until age 24 for full-time students.
by ModifiedDuration
Sat May 16, 2020 7:44 am
Forum: Investing - Theory, News & General
Topic: 529 vs gifting shares
Replies: 4
Views: 264

Re: 529 vs gifting shares

Kiddie Tax
by ModifiedDuration
Thu Apr 02, 2020 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: College choice dilemma
Replies: 167
Views: 8041

Re: College choice dilemma

A bit of apples and oranges here. Princeton all-in is $76,000 a year. Your child received a scholarship for tuition at Vanderbilt. That still leaves the $23,000 a year that Vanderbilt estimates for room, board, books, medical, travel, personal expenses, etc. Therefore, the savings at Vanderbilt is $...
by ModifiedDuration
Mon Feb 10, 2020 6:45 pm
Forum: Personal Consumer Issues
Topic: Digital Job Interview?
Replies: 18
Views: 1315

Re: Digital Job Interview?

This sounds like the Kira Video interviews that law school applicants have been doing for several years.

A few of the law schools my daughter was applying to required them.

She wasn’t a big fan, but, at the time, said she did fine.
by ModifiedDuration
Sat Aug 10, 2019 10:25 am
Forum: Personal Consumer Issues
Topic: Experience with “change airport” itinerary(LGA to JFK)?
Replies: 33
Views: 2431

Re: Experience with “change airport” itinerary?

livesoft wrote:
Sat Aug 10, 2019 9:28 am
Grt2bOutdoors wrote:
Sat Aug 10, 2019 9:21 am
Actually both airports are in Queens, a peninsula.
Indeed. And what island is Queens located on?
That would be Long Island.
by ModifiedDuration
Sat Aug 10, 2019 7:48 am
Forum: Personal Consumer Issues
Topic: Experience with “change airport” itinerary(LGA to JFK)?
Replies: 33
Views: 2431

Re: Experience with “change airport” itinerary(LGA to JFK)?

If the transfer between LaGuardia and JFK is happening Monday through Friday or on the weekend and exactly what time of day it will be happening will make a big difference in what the travel time between airports will be. A weekday afternoon would be bad enough, but doing this around 7:30 or 8:30 on...
by ModifiedDuration
Thu Aug 08, 2019 1:51 pm
Forum: Personal Consumer Issues
Topic: Silicon Valley Interview Attire
Replies: 30
Views: 3190

Re: Silicon Valley Interview Attire

Skip the sports jacket.

My son is at one of those Silicon Valley companies and has told me the reaction to someone “over dressing” is: “We told him/her to come casual?!”, “they won’t fit in here”, reject.
by ModifiedDuration
Sun Jul 21, 2019 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: MBA worth it?
Replies: 95
Views: 9211

Re: MBA worth it?

Only if it comes out of a VERY GOOD university such as U Penn, Harvard, Yale, Princeton, NYU Stern, Stanford, Berkeley, Duke or U Michigan. Basically if it's not a well known quality U you're wasting time and money. An MBA from Princeton? Good to know that someone won’t be wasting their money getti...
by ModifiedDuration
Wed Jul 10, 2019 9:30 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 7671
Views: 618309

Re: S&P 500 hit 3,000 today

And I remember how cool I thought it was when the S&P 500 reached 500 for the first time in March 1995.
by ModifiedDuration
Sat Jun 15, 2019 7:47 am
Forum: Investing - Theory, News & General
Topic: How safe are pensions in the U.S.?
Replies: 87
Views: 10498

Re: How safe are pensions in the U.S.?

Would you rather get a pension from a corporation when PBGC guarantees it for aroundg 60K a year and it is 85% funded and must assume very low 3.9% investment returns for discounting or a plan that is only 73.7% funded under the assumptook the 50/50 ot 60/40 portfolio returns 7% per year? The disco...
by ModifiedDuration
Mon Jun 10, 2019 11:22 pm
Forum: Personal Consumer Issues
Topic: Good Rx
Replies: 60
Views: 6500

Re: Good Rx

Also check WellRx.

For my prescriptions, I have usually found lower prices at WellRx than Good Rx.
by ModifiedDuration
Wed Jun 05, 2019 7:50 am
Forum: Personal Finance (Not Investing)
Topic: windfall. do I need to pay estimated tax this year
Replies: 17
Views: 2353

Re: windfall. do I need to pay estimated tax this year

Increase the withholding on your salary so that you have withheld this year at least 110% of last year’s tax liability and you should be good.

Is this $1 million payout a capital gain item?
by ModifiedDuration
Tue Jun 04, 2019 6:21 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance do we NEED
Replies: 11
Views: 1141

Re: How much life insurance do we NEED

I am a CPA and would second the previous suggestion to look into the AICPA life insurance program, if you are also a CPA. I had the annual, renewable term life insurance for decades (before I retired) and it is very attractively priced, especially when you consider the annual premium refunds. The AI...
by ModifiedDuration
Sun Jun 02, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to stay under FDIC limits
Replies: 20
Views: 1470

Re: How to stay under FDIC limits

It would depend on beneficiary titling.
by ModifiedDuration
Wed May 29, 2019 8:26 am
Forum: Personal Investments
Topic: FDIC Insurance Limits
Replies: 12
Views: 826

Re: FDIC Insurance Limits

Getting conflicting information from two banks. I was interested in having all FDIC insured account for myself and my spouse ideally at one bank. I know I can get the 250k insurance for each individual account, but could I have a third checking account that was a "joint" account at the same bank, a...
by ModifiedDuration
Fri May 24, 2019 12:22 pm
Forum: Personal Consumer Issues
Topic: Is there a cheaper way to go to Long Island, NY?
Replies: 19
Views: 1049

Re: Is there a cheaper way to go to Long Island, NY?

Don't take verrazano bridge back, it is one way toll and hefty. I got a bit confused. Which way is the free one? I assume from NY to NJ. This is "back" for me One of life’s rules: You always pay on the bridges and tunnels to get out of New Jersey and do not pay to go into New Jersey (because who wo...
by ModifiedDuration
Thu May 23, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to 401(k) and IRAs, SECURE Act - It's signed
Replies: 292
Views: 23479

Re: Looks like the Stretch IRA is about to be killed

GrowthSeeker wrote:
Thu May 23, 2019 4:38 pm
Applicable to Roth also??

Per a Forbes article, yes, applicable to Roth also.
by ModifiedDuration
Thu May 23, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to 401(k) and IRAs, SECURE Act - It's signed
Replies: 292
Views: 23479

Re: Looks like the Stretch IRA is about to be killed

Getting in before the lock, but, yeah, this is bad news. Read the second post. It's very far from settled. Unfortunately, is not too far from being settled. Per the Wall Street Journal’s on-line story right now, the latest news is that the Senate plans on voting on the House’s already-passed Secure...
by ModifiedDuration
Thu May 23, 2019 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to 401(k) and IRAs, SECURE Act - It's signed
Replies: 292
Views: 23479

Re: Looks like the Stretch IRA is about to be killed

Getting in before the lock, but, yeah, this is bad news.
by ModifiedDuration
Fri May 17, 2019 1:42 pm
Forum: Personal Consumer Issues
Topic: Guidance on choosing between UMich and Brown
Replies: 102
Views: 6492

Re: Guidance on choosing between UMich and Brown

Also note that as you make college friends, many will stay in the region after college at a state school, but friends at Brown would scatter everywhere. Given you may not stay in Michigan nor Rhode Island, this may not matter much in terms of a decision, but your friends will stick together post co...
by ModifiedDuration
Fri May 17, 2019 9:43 am
Forum: Personal Consumer Issues
Topic: Guidance on choosing between UMich and Brown
Replies: 102
Views: 6492

Re: Guidance on choosing between UMich and Brown

While this is in regard to graduate schools, based on peer assessments USNews actually has Michigan ranked much higher than Brown for Computer Science: https://www.usnews.com/best-graduate-schools/top-science-schools/computer-science-rankings Also, Brown is really a Liberal Arts school. Computer sci...
by ModifiedDuration
Fri May 17, 2019 9:18 am
Forum: Personal Consumer Issues
Topic: Guidance on choosing between UMich and Brown
Replies: 102
Views: 6492

Re: Guidance on choosing between UMich and Brown

Either way is a win. Here you can see that Michigan computer science majors have a median starting salarying of $100,000: http://career.engin.umich.edu/wp-content/uploads/sites/30/2019/04/annualreport1718.pdf While Brown doesn’t release starting salaries, if you look at the companies that hire compu...
by ModifiedDuration
Thu May 09, 2019 7:02 am
Forum: Personal Consumer Issues
Topic: Undergrad major in Economics or Finance?
Replies: 62
Views: 4484

Re: Undergrad major in Economics or Finance?

Regarding the Penn vs Penn State thing... I remember a joke issue of the Daily Pennsylvanian that had the headline "Penn to Change its Name to Ben Franklin University". Some people actually fell for it and for a while there was chaos! :P That’s no joke and has been discussed off and on for many yea...
by ModifiedDuration
Thu May 09, 2019 6:56 am
Forum: Personal Consumer Issues
Topic: Undergrad major in Economics or Finance?
Replies: 62
Views: 4484

Re: Undergrad major in Economics or Finance?

That’s because one costs in excess of 50k a year for undergrad tuition and one costs less than 20k. With similar job prospects and pay when graduated. Embarrassing indeed for Penn grads. You believe that people who graduate from Penn have similar job prospects and pay compared to people who graduat...
by ModifiedDuration
Wed May 08, 2019 6:06 am
Forum: Personal Finance (Not Investing)
Topic: College Expenses
Replies: 234
Views: 14926

Re: College Expenses

I see this quoted a lot "Top schools only accept 15-20% of their applicants". This is perpetuated but he school of course to show how everyone wants their top tier education. May I propose that students who are likely to apply there are also applying to 5-6 other schools? Point being they have appl...
by ModifiedDuration
Sat Apr 20, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Best Credit Card for College Freshman
Replies: 50
Views: 2478

Re: Best Credit Card for College Freshman

I believe the credit CARD act of 2009 still controls the options available to an 18 year old. Student applicants under 21 are required to have co-signers, such as parents or other adults over the age of 21, who will take on joint liability for any card debts that are incurred. If young adults want ...
by ModifiedDuration
Sat Mar 30, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Tax Question—College Age Daughter
Replies: 8
Views: 737

Re: Tax Question—College Age Daughter

For tax purposes, a person is a resident of the state in which he/she is domiciled. Generally, students are residents of the state where their parents or guardians reside. In a typical situation, a student would first file a nonresident tax return for Ohio. She might or might not have Ohio income t...
by ModifiedDuration
Wed Mar 27, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Are family vacations considered a reportable gift?
Replies: 33
Views: 4467

Re: Are family vacations considered a reportable gift?

Yes, if a family vacation goes above the threshold (or a wedding), it's a gift and reportable. With that said, no taxes are due and no taxes will ever be due under current law. Your estate has to be $11 million or more (married couple) for the gift tax to come into play which will not impact the ma...
by ModifiedDuration
Wed Mar 27, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Are family vacations considered a reportable gift?
Replies: 33
Views: 4467

Re: Are family vacations considered a reportable gift?

This really gets to be a gray area. What if a father pays for a daughter's wedding? According to the internet, it depends on whether they pay the vendors directly (fulfilling a perceived cultural obligation) or handed over the money. Which takes us back to the car: in some neighborhoods there is a ...
by ModifiedDuration
Wed Mar 27, 2019 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6402

Re: Help with law school decision

I think anyone considering applying to law school or making a decision on law school would get much better advice on the Law School Life forum than they can get here:

https://www.lawschool.life/forums/
by ModifiedDuration
Tue Mar 26, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6402

Re: Help with law school decision

Unrelated (for the most part), but I will say that as a UVA Law alum, it is a wonderful place to spend three years of your life, I made many life long friends there, and I would move back to Charlottesville in a heartbeat if a great opportunity presented itself. It seems like everyone I hear from t...
by ModifiedDuration
Tue Mar 26, 2019 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6402

Re: Help with law school decision

My daughter is now at a T14 Law school and having recently gone through the admissions process, she would say that, nowadays, work experience is very important in the admissions process for the T14 law schools. This is a major change from 10 years ago. As mentioned in this article, the percent of st...
by ModifiedDuration
Tue Mar 26, 2019 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6402

Re: Help with law school decision

My daughter is currently in a Top 3 Law school (and got into 11 T14 law schools). You would probably be better off going to the Law School Life forum with your post. There are a lot of current applicants and current law students on that forum and responding to a post like yours is their forte: https...
by ModifiedDuration
Tue Mar 26, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6402

Re: Help with law school decision

There is a big difference in job placement stats between ND and Iowa. ND has almost half the class go into Big Law (if you define Big Law as a firm with more than 100 lawyers), while Iowa has a little over 10% going into Big Law. On the flip side of that, Iowa has a much higher percentage of its cla...