Search found 1696 matches

by CAsage
Fri May 29, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Another IRA/Mortgage Payoff Question
Replies: 13
Views: 562

Re: Another IRA/Mortgage Payoff Question

The real problem might be your mortgage rate! Consider looking into a 10 year refi or a fixed for a few years, then variable loan? Then draw the money out and pay it off over a couple years, but definitely watch the taxes. The real "arbitrage" looks like it presumes the mortgage rate is much higher ...
by CAsage
Thu May 28, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: 10-year note predates marriage - community or separate?
Replies: 2
Views: 694

Re: 10-year note predates marriage - community or separate?

Totally not a lawyer, but all my friends are divorced in CA. :? .... Community Property is generally based on earnings - i.e. the sweat of your brow. If you get a job, income from that is Community. If you have a savings account from before you were married AND DO NOT COMMINGLE IT, then any interest...
by CAsage
Wed May 27, 2020 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Small Estate in CA and Probate
Replies: 17
Views: 1065

Re: Small Estate in CA and Probate

Is there any compelling reason they should create wills? Should they be concerned about avoiding probate in their situation? Or can they title the bank accounts TOD or name beneficiaries, and avoid probate? Is there a mechanism in CA under which the settling of their eventual estate could be straig...
by CAsage
Wed May 27, 2020 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Small Estate in CA and Probate
Replies: 17
Views: 1065

Re: Small Estate in CA and Probate

My mother died in CA and I handled her estate. She had an apartment stuffed with junk (that was THE worst), a checking account TOD to me, and a brokerage account TOD to me and my sibling. Mom had a will, but I never needed it nor did anything with it. I paid all the final bills (monthly CC, closing ...
by CAsage
Sun May 24, 2020 10:54 am
Forum: Personal Consumer Issues
Topic: Any Instant Pot users here?
Replies: 142
Views: 17505

Re: Any Instant Pot users here?

I adore mine. It cooks poultry better than any method I've tried - whole chickens or big turkey breasts turn out amazing! Recommend buying the America's Test Kitchen cookbook, as always they have the gold standard of instruction. My one try at pot roast was a bust, but everything else has been great...
by CAsage
Thu May 21, 2020 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: How can we do backdoor IRA as a family with a traditional IRA account
Replies: 10
Views: 604

Re: How can we do backdoor IRA as a family with a traditional IRA account

Just open a new traditional IRA account at a different institution. When doing a backdoor IRA, ALL accounts must be considered. Opening it at another institution has nothing to do with this, would not solve the problem. I do note that the traditional IRA held by husband might be considered modest i...
by CAsage
Wed May 20, 2020 5:16 pm
Forum: Personal Investments
Topic: Earned income for child toRoth IRA
Replies: 6
Views: 264

Re: Earned income for child toRoth IRA

It is possible for your child to be self-employed and then file a schedule C to report their own income, which of course the Bank of Dad then rolls into a Roth IRA. But the cases I've seen are for teens with real defensible jobs, like babysitting and mowing yards, helping neighbors clean out garages...
by CAsage
Wed May 20, 2020 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Considerations: Marriage in your 50s/60s
Replies: 23
Views: 1840

Re: Financial Considerations: Marriage in your 50s/60s

Does anyone have advice regarding selling one home before vs after marriage? We believe we understand the need to update the title on the remaining home and understand the capital gains tax implications. Is there anything else we should consider? Thanks! How much capital gains are you looking at fo...
by CAsage
Wed May 20, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Laid off job 1 and have to quit job 2 - How to File for UI
Replies: 12
Views: 1019

Re: Laid off job 1 and have to quit job 2 - How to File for UI

Depending on the state, you do not qualify for unemployment if you quit. Not sure of the current provisions, but I think they might have to keep paying you if they got federal aid.
by CAsage
Wed May 20, 2020 10:40 am
Forum: Personal Consumer Issues
Topic: Brother buy a house from another brother
Replies: 8
Views: 810

Re: Brother buy a house from another brother

What state? Cash purchase? Any new or old mortgage? However property is transferred in your state, either via escrow or a lawyer, probably the same here. In general need to file a grant deed from A to B and exchange $$. When a relative bought a house from another years ago, a short contract between ...
by CAsage
Tue May 19, 2020 5:45 pm
Forum: Personal Consumer Issues
Topic: Engagement Ring Help
Replies: 68
Views: 2939

Re: Engagement Ring Help

There are many prior threads on engagement rings and how to buy diamonds. This one has a very interesting post on the industry. Also, interesting posts on how to sell a ring - keep in mind, there is really no resale market without massive price cuts. May not affect whether you want one! https://www....
by CAsage
Tue May 19, 2020 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Trusts, k1s, and state taxes
Replies: 9
Views: 358

Re: Trusts, k1s, and state taxes

So, at what point can you liquidate or free yourself from these? My SO had an old trust thing with a highly annoying small amount of K-1 income, divided between multiple siblings, and we finally just told them to give our shares to someone... anyone ... else. You can get out of those old trusts, can...
by CAsage
Tue May 19, 2020 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Considerations: Marriage in your 50s/60s
Replies: 23
Views: 1840

Re: Financial Considerations: Marriage in your 50s/60s

I don't see a specific discussion about separate vs community property. A prenup and a clear disclosure of all current assets and debts, with the discussion about which of those items are going to remain separate (in case of divorce, or death and leaving them to prior family members) should be in th...
by CAsage
Tue May 19, 2020 12:43 pm
Forum: Personal Investments
Topic: Advice on Mom's retirement accounts
Replies: 14
Views: 970

Re: Advice on Mom's retirement accounts

Thank him for the advice, and ignore it. You are doing fine with a simple, solid plan, don't mess with good karma. I would look into draining that IRA as quickly as possible and prioritize that for spending down for Mom, as if (when...) you and your sister (I'm presuming here...) inherit, you will h...
by CAsage
Mon May 18, 2020 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Issue
Replies: 13
Views: 1106

Re: Social Security Issue

The deceased had about $10,000 in a bank account which my wife was planning on using to pay for the funeral expenses, extra months rent, clean out expenses etc. But then she was shocked to learn about the letter from SSA requesting $25,000. We are wondering where SSA stands in the priority of claim...
by CAsage
Mon May 18, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Issue
Replies: 13
Views: 1106

Re: Social Security Issue

2. The $25,000 owed SSA plus the funeral home expense and other post-death miscellaneous expenses (e.g. cleaning out the apartment, hauling away furniture etc.) is substantially more than the value of SIL's assets. What money, if any, will DW and BIL owe SSA out of their own pockets? 4. Can the pos...
by CAsage
Mon May 18, 2020 10:11 am
Forum: Personal Consumer Issues
Topic: Composite AND wood deck?
Replies: 15
Views: 995

Re: Composite AND wood deck?

Also, composite is not "structural" so the underpinnings would have to be built with pressure treated lumber anyway. Composite tends to sag, and it sure cannot be used for building.
by CAsage
Mon May 18, 2020 10:08 am
Forum: Personal Consumer Issues
Topic: Tea supplier comparison
Replies: 51
Views: 4258

Re: Tea supplier comparison

I like a milder black tea, Twinings Prince of Wales. Amazon! The most important thing is to get a basket tea infuser, not one of those undersized spoon or walnut sized things that don't let the tea leaves really expand and flow.... I like the ones that fit over the top of the mug, and of course alwa...
by CAsage
Sun May 17, 2020 1:17 pm
Forum: Investing - Theory, News & General
Topic: Advising a friend
Replies: 7
Views: 563

Re: Advising a friend

Don't touch any part of this with a 10 foot pole. The opportunity here to destroy that relationship or to be defrauded are .... scary. "Someone" who doesn't trust anyone should at least learn a little bit about investing (low fees, index, diversify). The no-think solution is a Target Date retirement...
by CAsage
Sat May 16, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Rolling over into an IRA Question
Replies: 3
Views: 228

Re: Rolling over into an IRA Question

There's no way to know. You will only be out of the market a few days while they transfer the funds - and do a direct transfer. Since you can't predict it and can't control it, just initiate it and move on with life.
by CAsage
Fri May 15, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance cash out to pay off student loan?
Replies: 11
Views: 696

Re: Refinance cash out to pay off student loan?

Also note that mortgage debt is not 100% deductible unless used for acquisition - I"m not exactly sure of the 2020 laws, but there are now limits on how much you can cash out or refinance and still deduct. Just check that carefully!
by CAsage
Thu May 14, 2020 4:44 pm
Forum: Personal Consumer Issues
Topic: What to do with canned chicken?
Replies: 45
Views: 3316

Re: What to do with canned chicken?

It's great in Chicken vegetable soup - celery, carrots, onions. Even my fussy teen agreed this knocks canned soup out of the park!
by CAsage
Thu May 14, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Husband Died and Spouse lack of knowledge.
Replies: 37
Views: 6146

Re: Husband Died and Spouse lack of knowledge.

A relation died recently, unexpected by him but not otherwise (alcoholic, diabetic, overweight...), and left his estate in a complete shambles. I resolved not to inflict a mess like that on anyone! So I now include a list of all my assets, including Entity (brokerage, bank, etc), account numbers, in...
by CAsage
Thu May 14, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Any reasons not to refi primary to payoff second home?
Replies: 6
Views: 504

Re: Any reasons not to refi primary to payoff second home?

I think you lose the deduction on the second mortgage, as in your refinanced amount (above the original first mortgage) is no longer "acquisition" debt. I'd check carefully. https://www.marketwatch.com/story/watch-out-for-these-pitfalls-if-you-want-to-deduct-mortgage-interest-under-the-new-tax-law-2...
by CAsage
Wed May 13, 2020 12:14 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 10813

Re: Dentist charges $10 for PPE

The real issue now is that existing stocks, if any, were redirected to hospitals and first responders, leaving many dental supply places without ... supplies. With the COVID-19 issues, that means many dentists are either unable to get any supplies, closing their practice or limiting it to emergencie...
by CAsage
Tue May 12, 2020 5:57 pm
Forum: Personal Investments
Topic: transfer from Edward Jones (*updated)
Replies: 12
Views: 1806

Re: transfer from Edward Jones (*updated)

Given my age of nearly 48 and being the sole bread winner for a wife as well as two kids under age 5, I believe most would advise buying life insurance to replace 15-20 years' salary in case of my untimely death, though when I looked into this a couple years ago I was really taken aback by the pric...
by CAsage
Tue May 12, 2020 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America unauthorized ATM withdrawal
Replies: 47
Views: 2285

Re: Bank of America unauthorized ATM withdrawal

nisiprius wrote:
Tue May 12, 2020 1:31 pm
How does one withdraw $92.50 at an ATM?
Possible bank surcharge of $2.50? With cash $90? Just a guess. That was 3~4 months ago, so not sure what the reporting window is.
by CAsage
Mon May 11, 2020 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Picking a bank for an estate account
Replies: 8
Views: 422

Re: Picking a bank for an estate account

My mother recently passed away and I am having to go this week to open an estate bank account. Related question what happens if by chance any money came into the account later on? I don't know what the money would be from but I also don't have a great touch on her finances yet. The original account...
by CAsage
Mon May 11, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Will Question
Replies: 3
Views: 383

Re: Will Question

Wills commonly have words about the first beneficiary (spouse) having to survive by XX days, and then you can name the seconds.
by CAsage
Sun May 10, 2020 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up wife after devorce
Replies: 45
Views: 5907

Re: Setting up wife after devorce

I am giving her $120000 from my IRA ... putting it in bonds. I will observe that $120,000 in an IRA is certainly worth far less due to the inevitable federal (and possibly state) taxes that will be incurred or 'lost' when you withdraw it. Be sure that you fairly account for the pre-tax vs after-tax...
by CAsage
Thu May 07, 2020 5:11 pm
Forum: Personal Consumer Issues
Topic: iPad.. worth it?
Replies: 49
Views: 3078

Re: iPad.. worth it?

I bought a 10" ipad for reading the morning paper, doing email while on travel, and browsing the Web when it comes up... Tablets are good for that, and I use it lots, but IMO not ideal for long term reading - I way prefer a dedicated e-reader (lighter and better non-glare screen). But having a table...
by CAsage
Thu May 07, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Summer Intern Roth 401(k)
Replies: 16
Views: 538

Re: Summer Intern Roth 401(k)

Another minor constraint on the 100% goal, I know people are not eligible to put 100% of their compensation into a Roth IRA; if you wade through the 1040 and 8606, the result is that 7.65% (roughly) of your Social Security has to be paid first. While this is true for a 401k, it was not true for you...
by CAsage
Thu May 07, 2020 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Summer Intern Roth 401(k)
Replies: 16
Views: 538

Re: Summer Intern Roth 401(k)

Another minor constraint on the 100% goal, I know people are not eligible to put 100% of their compensation into a Roth IRA; if you wade through the 1040 and 8606, the result is that 7.65% (roughly) of your Social Security has to be paid first. I did open a Roth for my teen's summer job last year, a...
by CAsage
Thu May 07, 2020 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Pay Sibling's Undergrad or Refinance Parent's Mortgage
Replies: 52
Views: 3155

Re: Pay Sibling's Undergrad or Refinance Parent's Mortgage

So Mom is considering taking on guaranteed secured debt to invest in stock with the hope it will go up? Way better for you and your parents to split this, and pay it out of cash flow. Or pay 80% or thereabouts, have bright young student get a small loan or summer job to chip in his end. Your parents...
by CAsage
Wed May 06, 2020 7:14 pm
Forum: Personal Investments
Topic: How do I get out of home a partnership agreement?
Replies: 42
Views: 3028

Re: How do I get out of home a partnership agreement?

Purely mathematically, how much has the house appreciated? You basically own 20% of that house, so .. if the 80K appreciation is for 100%, then your stake is now worth $16K more than what you paid for it. You might counter-offer to accept the 20% plus $16K to release your interest in the house, but ...
by CAsage
Wed May 06, 2020 11:56 am
Forum: Personal Consumer Issues
Topic: Craigslist - are these scams?
Replies: 49
Views: 3130

Re: Craigslist - are these scams?

When attempting to sell (for an estate, I was time pressed) some large furniture sets for low hundreds, I had several people immediately contact me with one superficial question, and then a ludicrous story about sending "their shipper" with a check for more than what I wanted, I was supposed to pay ...
by CAsage
Tue May 05, 2020 7:35 pm
Forum: Personal Investments
Topic: Preferred stock/bond with no market? I want out
Replies: 17
Views: 1603

Re: Preferred stock/bond with no market? I want out

What would happen if you move/sell everything else, and just abandon those? That might be cheapest.
by CAsage
Tue May 05, 2020 12:19 pm
Forum: Personal Investments
Topic: Tell me what I don't know about retirement?
Replies: 55
Views: 4869

Re: Tell me what I don't know about retirement?

Another big shock was the IRA tax bomb - I really regret having maxed out my 401k for so many years; I should have taken the matching and saved more after tax. The new 10-year withdrawal on inherited IRA can cost your heirs (in their prime earning years) dearly - I better hang on and try and spend ...
by CAsage
Tue May 05, 2020 12:07 pm
Forum: Personal Consumer Issues
Topic: Is there anything more environmentally friendly than Drano for unclogging a drain?
Replies: 80
Views: 4790

Re: Is there anything more environmentally friendly than Drano for unclogging a drain?

With several household members with long hair.... I would HIGHLY recommend a plastic Zip type drain cleaner. You need that, a pair of pliers to pull it out and then pull the clumps of hair (really, fingers might not cut it), and a bunch of paper towels to grab all the amazing clumps of hair. This wo...
by CAsage
Mon May 04, 2020 8:39 pm
Forum: Personal Investments
Topic: Withdraw from Roth IRA to pay down mortgage?
Replies: 6
Views: 581

Re: Withdraw from Roth IRA to pay down mortgage?

No. You cannot replace those Roth $$ due to the annual limits of Roth contributions, and they may be your most valuable asset. Keep you eyes peeled for a better mortgage, and many refinances have taught me to take only a no cost, no fee refi - that's the best deal. Or very very cheap costs, otherwis...
by CAsage
Mon May 04, 2020 8:36 pm
Forum: Personal Investments
Topic: Tell me what I don't know about retirement?
Replies: 55
Views: 4869

Re: Tell me what I don't know about retirement?

Personally, I was surprised to know you had to pay for Medicare! Shows what I know. There is a two-year lookback on the IRMAA surcharge, but they will let you petition to get it adjusted if you have a 'life change" aka retirement different income. Another big shock was the IRA tax bomb - I really re...
by CAsage
Mon May 04, 2020 4:17 pm
Forum: Personal Consumer Issues
Topic: Does this "prove the debt" response make sense?
Replies: 7
Views: 891

Re: Does this "prove the debt" response make sense?

Are you the executor? Why are you responsible for this debt, or are they fishing? What is an ALF? I think you would do better to also disavow any responsibility, while summarizing that the room was released 6/9. Strange.
by CAsage
Mon May 04, 2020 1:25 pm
Forum: Personal Consumer Issues
Topic: Is a locking mailbox necessary or helpful, or more hassle than it's worth?
Replies: 43
Views: 2260

Re: Is a locking mailbox necessary or helpful, or more hassle than it's worth?

Possibly useful if a) it's not hard to break into, and b) both the mail slot and the box are big enough to hold enough mail/magazines. I took a different approach, installed a good sized mail slot into my garage wall, and put a big recycling bin right below. Precious little physical mail is actually...
by CAsage
Mon May 04, 2020 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax / penalty for cashing out inherited Ira?
Replies: 13
Views: 1129

Re: 40% tax / penalty for cashing out inherited Ira?

There is no penalty for withdrawing an inherited IRA, and in fact if it was inherited on or after 1/1/2020, it must be withdrawn in 10 years (no annual requirement, just wipe it out by 10 year mark). The amount of taxes can be calculated exactly by doing an estimated tax return for your relative, an...
by CAsage
Sun May 03, 2020 12:24 am
Forum: Personal Finance (Not Investing)
Topic: Custodial Account No Longer Minor
Replies: 10
Views: 783

Re: Custodial Account No Longer Minor

DTalos wrote:
Sat May 02, 2020 7:48 pm
How does Henry go about changing ownership record of Stock Z, to reflect Henry only?

Is the John Smith CUST now completely irrelevant because Henry is over 21?
For the first, I would talk to the brokerage as yes for (2) I think John should be history! Just my thought.
by CAsage
Sat May 02, 2020 5:57 pm
Forum: Personal Investments
Topic: Money manager, is it worth it ? 1M to invest.
Replies: 21
Views: 2321

Re: Money manager, is it worth it ? 1M to invest.

How many of those nifty long list of items do you need help with, really? The hard part about investing is figuring out what YOUR short term and long term goals are. Then you can choose an asset allocation (and there are a range of right or good enough answers). What you cannot buy at any price is a...
by CAsage
Sat May 02, 2020 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Custodial Account No Longer Minor
Replies: 10
Views: 783

Re: Custodial Account No Longer Minor

I think you need to carefully trace the accounts here. A UTMA account belongs to Henry as of the date it was created, and everything in it is Henry's. If John bought stock for Henry, acting as custodian, in Henry's account, then that belongs (then and now) to Henry. If John had stock in a brokerage ...
by CAsage
Sat May 02, 2020 5:06 pm
Forum: Investing - Theory, News & General
Topic: How are mutual funds fees calculated if the year is negative?
Replies: 18
Views: 1858

Re: How are mutual funds fees calculated if the year is negative?

Investment management fees for exchange traded funds (ETFs) and mutual funds are deducted by the ETF or fund company, and adjustments are made to the net asset value (NAV) of the fund on a daily basis. Investors don't see these fees on their statements because the fund company handles them in-house....
by CAsage
Thu Apr 30, 2020 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Sibling inheritance of Traditional IRA - sharing with other siblings
Replies: 31
Views: 1991

Re: Sibling inheritance of Traditional IRA - sharing with other siblings

Is probate so truly awful in your (brother's) state? The cleanest solution would be to "disclaim" 2/3 in favor of the other two sisters so they could go on their own way, pay their own taxes etc. The simplest solution might be to just gift them money each year, of course after paying taxes which I w...
by CAsage
Thu Apr 30, 2020 3:15 pm
Forum: Personal Investments
Topic: What is best way to transfer money to India
Replies: 4
Views: 284

Re: What is best way to transfer money to India

If this is a recurring thing and you COMPLETELY trust people, or can set up a second debit account, I wonder if it would make sense to order a second authorized user debit account, mail it to them, then call them to coordinate a PIN. This would be exactly like your withdrawing money while on vacatio...