Search found 2212 matches

by Silk McCue
Sat May 25, 2019 8:46 am
Forum: Personal Consumer Issues
Topic: Am I a sucker to pay for a new roof?
Replies: 24
Views: 2122

Re: Am I a sucker to pay for a new roof?

Posters that are throwing out the phrase "insurance fraud" are ill-informed at best. If an inspection of your roof shows wind damage and needs repair or replacement the insurance company will send an adjuster to your house to climb up on the roof and make their own determination. No chance of fraud ...
by Silk McCue
Fri May 24, 2019 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Giving monetary gifts--bank logistics
Replies: 9
Views: 634

Re: Giving monetary gifts--bank logistics

Bobby206 wrote:
Fri May 24, 2019 7:31 pm

It sounds like you are trying to commit tax fraud and you don't need to.
What? There is absolutely nothing in the original post that smells of tax fraud. Just an honest question about what the right way to do this is. 60k joint account to joint account is 100% above board.

Cheers
by Silk McCue
Fri May 24, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Health Shares - Need your opinion!?
Replies: 42
Views: 2158

Re: Health Shares - Need your opinion!?

Just saw this article on Kaiser Health news, some food for thought: https://khn.org/news/sham-sharing-ministries-test-faith-of-patients-and-insurance-regulators/?fbclid=IwAR16TztAfgfHhjJDy5Mkt9Y_99Fz8KUZRm6_MJyqy0C4uBHuJ4paJBTZxeU The food for thought is don't sign up with sham companies which is n...
by Silk McCue
Fri May 24, 2019 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Giving monetary gifts--bank logistics
Replies: 9
Views: 634

Re: Giving monetary gifts--bank logistics

60k joint to joint is just fine and is within the $15k per person for each of you. If you exceed that in a year no tax is due. You just need to File form 709 to report the gift against your lifetime limit. You could give each one multiples of that this year as long as you file form 709. https://smar...
by Silk McCue
Fri May 24, 2019 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: deemed filing spousal benefits SS help please...
Replies: 9
Views: 627

Re: deemed filing spousal benefits SS help please...

thanks again, a great forum and opensocialsecurity.com gets better every time I use it. I also just purchased his ebook. Glad we could help. I’ve learned more than I could have imagined when I found this site in late 2015. I use the search box quite a bit when I have a question about something and ...
by Silk McCue
Fri May 24, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: deemed filing spousal benefits SS help please...
Replies: 9
Views: 627

Re: deemed filing spousal benefits SS help please...

It will be 1/2 * your PIA, minus the (COLA adjusted) amount that her own benefit had been reduced for early claiming. You're correct that the spousal benefit stops increasing at her FRA, and is capped at 1/2 of your PIA. Perfect, so since she’s a little older when I reach my FRA we would have reach...
by Silk McCue
Fri May 24, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: deemed filing spousal benefits SS help please...
Replies: 9
Views: 627

Re: deemed filing spousal benefits SS help please...

You don't need to use the Advanced Options. You need to scroll to the bottom of the page and put in alternate dates for her filing and your filing after you run the base scenario. You need to set her spousal benefit date to match you retirement benefit date. I hope this helps.

Cheers
by Silk McCue
Fri May 24, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: deemed filing spousal benefits SS help please...
Replies: 9
Views: 627

Re: deemed filing spousal benefits SS help please...

Plug your true numbers into https://opensocialsecurity.com/ and the tool will show you your optimal filing strategy. This tool was developed by obliviousinvester, a member of this site and retains no information about your use of the tool. If the recommended option does not have your wife filing at ...
by Silk McCue
Fri May 24, 2019 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage almost paid off
Replies: 31
Views: 3162

Re: Mortgage almost paid off

First of all, congrats. In the UK, you are generally advised to leave a small amount outstanding on the mortgage (say £100). The bank then continues holding the deeds because you haven't paid off the mortgage. Secure storage for a tiny amount of interest. Is that not something followed in the US? T...
by Silk McCue
Thu May 23, 2019 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage almost paid off
Replies: 31
Views: 3162

Re: Mortgage almost paid off

Congratulations on paying off the mortgage. Call the bank this morning and ask them how this will be handed. If you want, you could ask for a payoff amount and arrange to pay it off now.

Cheers
by Silk McCue
Wed May 22, 2019 3:46 pm
Forum: Personal Consumer Issues
Topic: Can I change int'l flight with connection to non-stop
Replies: 9
Views: 802

Re: Can I change int'l flight with connection to non-stop

Thanks to all for the help. Tix were booked thru Amex travel. Called them first and was told nope, difference in fare plus $300 each is all they can do, told me to try Delta. Just did that. It took about 20 minutes and me being very nice on the phone, but they made the desired switch at no charge. ...
by Silk McCue
Wed May 22, 2019 1:31 pm
Forum: Investing - Theory, News & General
Topic: Why not non traded REIT such as yield tree?
Replies: 25
Views: 1657

Re: Why not non traded REIT such as yield tree?

I suggest you type "non traded reit" in the search box. Best place to look for information on questions that have been asked numerous times in the past and with plenty of feedback provided.

Cheers
by Silk McCue
Wed May 22, 2019 8:24 am
Forum: Personal Consumer Issues
Topic: Best small AWD to 'drive into the ground'
Replies: 87
Views: 5460

Re: Best small AWD to 'drive into the ground'

Real AWD systems in cars narrows it to Subaru and Audi. The rest are "cosmetic" AWD that are there to get your money, then get you stuck. Please educate me on why a Honda Pilot AWD is not "real AWD" and how exactly that manifests itself mechanically and operationally from Subaru and Audi. I honestl...
by Silk McCue
Wed May 22, 2019 7:36 am
Forum: Personal Consumer Issues
Topic: Best small AWD to 'drive into the ground'
Replies: 87
Views: 5460

Re: Best small AWD to 'drive into the ground'

Real AWD systems in cars narrows it to Subaru and Audi. The rest are "cosmetic" AWD that are there to get your money, then get you stuck. Please educate me on why a Honda Pilot AWD is not "real AWD" and how exactly that manifests itself mechanically and operationally from Subaru and Audi. I honestl...
by Silk McCue
Wed May 22, 2019 7:25 am
Forum: Personal Investments
Topic: Rules governing backdoor roth conversions on money recharacterized from roth to traditional
Replies: 4
Views: 330

Re: Rules governing backdoor roth conversions on money recharacterized from roth to traditional

Please excuse my ignorance but I must be missing something. I thought that IRA and 401K rollovers into Roth IRA incurred some tax liability. I have entered into the Roth IRA setting a little late as I am within a year of retirement and I have just this month deposited some money into a Roth IRA. I ...
by Silk McCue
Tue May 21, 2019 5:34 pm
Forum: Investing - Theory, News & General
Topic: Delaying social security = harming nest egg?
Replies: 71
Views: 5373

Re: Delaying social security = harming nest egg?

My wife and I have been taking SS since turning 62...now in our late sixties and would have had to draw down our portfolio to the tune of several hundred thousand dollars in a bull market....no thank you. Add to that breaking even in my eighties and being paid with inflated dollars, the decision wa...
by Silk McCue
Tue May 21, 2019 3:36 pm
Forum: Personal Investments
Topic: Rules governing backdoor roth conversions on money recharacterized from roth to traditional
Replies: 4
Views: 330

Re: Rules governing backdoor roth conversions on money recharacterized from roth to traditional

There is no waiting period. You can do it at anytime after the recharacterization. Tomorrow is always a good day. You can of course fund a full 2019 IRA and then convert it immediately as long as you won’t have any other traditional IRAs on 12/31/2019. If you do Pro Rata issues will come into play. ...
by Silk McCue
Tue May 21, 2019 3:04 pm
Forum: Investing - Theory, News & General
Topic: Delaying social security = harming nest egg?
Replies: 71
Views: 5373

Re: Delaying social security = harming nest egg?

Despite the math, behavioral economics would say that given the 2 choices (early or delay), more people would rather lose out by taking SS early and dying later than delay SS and dying early. Once you die you won’t care. This is not a regret mitigation exercise. Cheers If you pick wrong you have le...
by Silk McCue
Tue May 21, 2019 1:49 pm
Forum: Investing - Theory, News & General
Topic: Delaying social security = harming nest egg?
Replies: 71
Views: 5373

Re: Delaying social security = harming nest egg?

eli80 wrote:
Tue May 21, 2019 1:25 pm

Despite the math, behavioral economics would say that given the 2 choices (early or delay), more people would rather lose out by taking SS early and dying later than delay SS and dying early.
Once you die you won’t care. This is not a regret mitigation exercise.

Cheers
by Silk McCue
Tue May 21, 2019 12:32 pm
Forum: Investing - Theory, News & General
Topic: Delaying social security = harming nest egg?
Replies: 71
Views: 5373

Re: Delaying social security = harming nest egg?

There are numerous threads that can be found using the search bar that fully vet more sides of this issue than you can imagine. Here is one I clicked on that you can look at. Folks here do not universally recommend delaying as that would not address the extremely wide range of circumstances that fol...
by Silk McCue
Tue May 21, 2019 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Can a cashiers check be made out to cash?
Replies: 18
Views: 1158

Re: Can a cashiers check be made out to cash?

Returning a Cashiers Check can be a bit more challenging due to mobile deposit these days. Take a look at this article. https://www.quora.com/Can-I-cancel-a-cashier-s-check-and-get-reimbursed 3 Even if you have the original paper copy of the check, they have no guarantees that the check is not being...
by Silk McCue
Mon May 20, 2019 4:14 pm
Forum: Personal Investments
Topic: Asset Allocation - Factoring in a Pension?
Replies: 4
Views: 748

Re: Asset Allocation - Factoring in a Pension?

QUSETIONS: 1. How should treat the pension in my asset allocation? 2. Should I adjust my retirement accounts to account for this portion of fixed income? 3. Where can I find the Treasury Interest Rate mentioned? Closest I could find was this: https://www.irs.gov/retirement-plans/mi ... ment-rates I...
by Silk McCue
Mon May 20, 2019 1:54 pm
Forum: Investing - Theory, News & General
Topic: How to setup Own Fund or Private Equity
Replies: 12
Views: 975

Re: How to setup Own Fund or Private Equity

Very likely that what you are proposing is illegal or at least massively ill advised. It is clear from this post alone that you lack the knowledge, experience or time to be successful in what you are proposing todo. You may very well cause great harm to those that for some reason would trust you to ...
by Silk McCue
Mon May 20, 2019 8:30 am
Forum: Personal Consumer Issues
Topic: Home auction
Replies: 7
Views: 407

Re: Home auction

Honestly. If you can afford a $5.6 Million dollar home you should not be asking us if it is a good deal or not. You should have the wherewithal to do that yourself.

Cheers
by Silk McCue
Mon May 20, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: completely freaked out about withdrawing from retirement accounts....
Replies: 62
Views: 7650

Re: completely freaked out about withdrawing from retirement accounts....

Fixed Return Fund - TRS TRS NYC › memberportal › Investments The Fixed Return Fund offers a guaranteed rate of return set by the New York State Legislature in accordance with applicable laws. The current annual rate is 7% for members who are serving in (or resigned/retired from) titles represented ...
by Silk McCue
Sun May 19, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: 5-Year Rule on TIRA->Roth Conversions
Replies: 14
Views: 898

Re: 5-Year Rule on TIRA->Roth Conversions

ResearchMed wrote:
Sun May 19, 2019 4:41 pm
...

No harm in that, right?

Thanks.

RM
No harm in that indeed.

Cheers
by Silk McCue
Sun May 19, 2019 12:28 pm
Forum: Personal Consumer Issues
Topic: Anyone have a GMC Acadia? Or similar?
Replies: 27
Views: 1594

Re: Anyone have a GMC Acadia? Or similar?

Definitely need to consider the Pilot.

Cheers
by Silk McCue
Sun May 19, 2019 12:26 pm
Forum: Personal Investments
Topic: Vanguard Tax Free Income
Replies: 2
Views: 967

Re: Vanguard Tax Free Income

Doing anything based on “talk of high future tax rates” is unwise. Focus on what you know. There should be plenty of time between now and age 70 to perform Roth Conversions. It’s all about current and future taxes when SS kick in. You just need to do the analysis. Also consider the impact of when on...
by Silk McCue
Sun May 19, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: 5-Year Rule on TIRA->Roth Conversions
Replies: 14
Views: 898

Re: 5-Year Rule on TIRA->Roth Conversions

This is the definitive table to answer your question which is asked often and like many answers can be found with the search box on this site Re: Roth IRA Rules - Table Approach Posted by: KAWill (IP Logged) Date: October 14, 2010 11:57PM Roth IRA Distribution Table UNDER AGE 59.5 FIVE YEAR CONVERSI...
by Silk McCue
Sun May 19, 2019 11:35 am
Forum: Personal Investments
Topic: What is the best roth conversion strategy?
Replies: 17
Views: 2095

Re: What is the best roth conversion strategy?

3) Hold tax deferred money in positions that are good for Roth, convert the position directly to Roth ... Tomorrow . If you don’t have positions that are good for Roth then convert and sell to buy into what you want. Given your financial situation from another recent thread - Just do it and move on ...
by Silk McCue
Sun May 19, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Another Inherited IRA question
Replies: 11
Views: 883

Re: Another Inherited IRA question

Sorry for your loss. You must keep it as an inherited IRA as you are a non-spouse and must take RMDs using the Single Life Table (unless you choose to draw down more than those required amounts up to the entire balance today). Take a look at this Wiki: Scroll down to “IRA inherited from someone othe...
by Silk McCue
Sat May 18, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Amending 2017 Taxes - Mortgage Interest
Replies: 3
Views: 330

Re: Amending 2017 Taxes - Mortgage Interest

Look at this page from H&R Block regarding how to amend a return that you created with them. The instructions are for 2018 but likely the same/similar for 2017. I don’t use their software but do know how to Google “h&r block amended return 2017”. https://www.hrblock.com/tax-center/support/software/s...
by Silk McCue
Sat May 18, 2019 2:07 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA early withdrawal tax+penalty question
Replies: 14
Views: 768

Re: Roth IRA early withdrawal tax+penalty question

Oh, I was not aware of that, well, too bad I closed my Roth Account at Schwab which I opened 3 years back jus to win some Brokerage bonus at ME.... Yes, I am aware of 5 yr rule of coversions and that 5 yrs starts on the day of your Roth IRA is opened - so - I guessed I learned that never close a Ro...
by Silk McCue
Sat May 18, 2019 1:55 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA early withdrawal tax+penalty question
Replies: 14
Views: 768

Re: Roth IRA early withdrawal tax+penalty question

Yes, I am aware of 5 yr rule of coversions and that 5 yrs starts on the day of your Roth IRA is opened - so - I guessed I learned that never close a Roth account when moving brokerages to brokerages to get brokerage bonuses ... You misunderstand the how the 5 year rule is applied to our Roth IRA. I...
by Silk McCue
Sat May 18, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 28
Views: 1952

Re: Long Term Care Insurance

Welcome There have been a number of posts on this in recent past that you can look up. Apparently there have been changes over time in the policies available and the rates that you can get so our experience is likely not going to be your experience. We have policies that we originated in our early ...
by Silk McCue
Fri May 17, 2019 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Guidelines, other than 5/24, for getting approved again?
Replies: 3
Views: 419

Re: Guidelines, other than 5/24, for getting approved again?

You seem to be obsessed with this. What has changed since you posted this?

viewtopic.php?f=2&t=279219&p=4503549#p4503549

Just lay off for a year or two. Find a new focus.

Cheers
by Silk McCue
Fri May 17, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Tithing
Replies: 14
Views: 1473

Re: Tithing

I never heard of this before. Crazy times lol Yes crazy times ... thousands of years of religious practice and history that you never heard of. For over 30 years we’ve been tithing, plus giving to missions, building programs, feeding programs, supporting children in other countries, traveling overs...
by Silk McCue
Fri May 17, 2019 4:55 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 41
Views: 3561

Re: Tricky Roth IRA Questions

Please find below the time tested and proven table for now Roth contributions and conversions are treated depending on your age, contributions, conversions, and earnings. This table is outstanding (and correct) for direct contributions and conversions. I'm not sure it works exactly right when an un...
by Silk McCue
Fri May 17, 2019 3:26 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 41
Views: 3561

Re: Tricky Roth IRA Questions

I'd like to ask a related question if that is OK. Since you were expecting a tricky Roth IRA question. The OP might also find the answer useful in their future planning. I'm over 59.5year old. I have a Roth IRA that I've been contributing to for 3 years. My understanding is I can take the contribut...
by Silk McCue
Fri May 17, 2019 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinancing medical school loans?
Replies: 19
Views: 1676

Re: Refinancing medical school loans?

Check out White Coat Investor (member here and respected author with excellent website). Your friend can learn alot here on multiple subjects.

https://www.whitecoatinvestor.com/stude ... financing/

Cheers
by Silk McCue
Thu May 16, 2019 7:37 pm
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 61
Views: 5268

Re: Does stock allocation truly matter?

Savings rate dominates. People talk about AA a lot, because it allows them to not think about how they could spend less and save more. They also have about AA a lot, because it allows them to think they are in the same league saving $20k/year at "100% stock" as somebody else putting away $80k/yr "c...
by Silk McCue
Thu May 16, 2019 7:32 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Expense Ratio listing
Replies: 4
Views: 522

Re: Vanguard Expense Ratio listing

From prior posts on Bogleheads it appears they are taken out daily. That makes sense as the price rises and falls daily. There is no place that you will see the dollar amount for your personal holdings. The ER is the best information you have to work with.

Cheers
by Silk McCue
Thu May 16, 2019 5:16 pm
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 41
Views: 3561

Re: Tricky Roth IRA Questions

hirlaw wrote:
Thu May 16, 2019 5:08 pm
Sorry for my ignorance. But, what is "IRR"?
I believe that is short for In Plan Roth Rollover given the context.

Cheers
by Silk McCue
Thu May 16, 2019 12:12 pm
Forum: Investing - Theory, News & General
Topic: Pre-RMD Retirement Sweet Spot - Accelerating IRA Withdrawals vs. Roth Conversion
Replies: 51
Views: 3952

Re: Pre-RMD Retirement Sweet Spot - Accelerating IRA Withdrawals vs. Roth Conversion

Hi All, Vanguard just posted another "Joel/Maria" podcast today and there was an interesting discussion (by Maria) on considering accelerating IRA withdrawals vs. doing Roth conversions. Her comments seemed to suggest that when you are in the retirement sweet spot (favorable tax rate) years before ...
by Silk McCue
Thu May 16, 2019 10:26 am
Forum: Personal Investments
Topic: Whole life policy after 19yrs
Replies: 11
Views: 808

Re: Whole life policy after 19yrs

I don’t need it but at the same time I don’t want to keep on paying for it if it is not generating a fair return. According to a prior post you are married with two children and 38/39 years old. You may not need a whole life policy but Term insurance on you and your wife should be purchased to assi...
by Silk McCue
Thu May 16, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1447

Re: Error with Social Security Earnings History

You can get a Tax Account Transcript for the current tax year and up to 10 years prior online or using Form 4506-T. Not certain if it gives you everything you need but I would request them immediately. UPDATE - Look at the Wage and Income Transcript in addition to this. https://www.irs.gov/individua...
by Silk McCue
Thu May 16, 2019 9:57 am
Forum: Personal Investments
Topic: Tricky Roth IRA Questions
Replies: 41
Views: 3561

Re: Tricky Roth IRA Questions

1) Can you still contribute to a Roth IRA if you have "maxed-out" your 401k contributions (assuming you meet the Roth IRA income limitations)? 2) Does a Roth 401k rollover to a new Roth IRA start the clock ticking on the Roth IRA "5-Year Rule"? Thanks for your help! 1 - Yes. The income limit is the...
by Silk McCue
Thu May 16, 2019 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1274

Re: Social Security Income and Medicaid Eligibility - Planning Question

I am talking about right now. They are probably eligible for Medicaid as we speak (dual with Medicare). I know the rules and limit for long term Medicaid are calculated differently. It’s also incredibly complicated and varies greatly by state. I do know how regular Medicaid works and what documenta...
by Silk McCue
Thu May 16, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1274

Re: Social Security Income and Medicaid Eligibility - Planning Question

If Medicaid income is determined by a 1040 tax return (not sure, but a good guess), SS may or may not show up on income at all or very little of it might be there. I think you need a tax estimator or tax program to try out the numbers. That’s not how it works. You fill out forms stating your income...
by Silk McCue
Thu May 16, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1274

Re: Social Security Income and Medicaid Eligibility - Planning Question

They have a fundamental misunderstanding of how Medicare and Medicaid work including what Medicaid will take care of and when. They also do not understand how they can qualify for Medicaid if they need it even with $43,000 of joint SS Income (Google “Miller Trust”). The husband absolutely needs to ...