Search found 296 matches

by Mlm
Tue Dec 04, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 756

Re: IRMAA timing

IRMAA thresholds are frozen through 2019. Starting in 2020 they will be adjusted for the CPI

https://www.ssa.gov/OP_Home/cfr20/418/418-1105.htm
by Mlm
Mon Dec 03, 2018 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4272

Re: Home Purchase Price vs. Gross Income

Twenty years ago I bought my last house with cash for 1.35X income. I made sure it was a layout that could work for me into my old age. I think it was one of the smarter move I made since selling and moving can be expensive.
by Mlm
Sun Nov 18, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: How Much of a Hassle is it Going to be to Roll Back 2018 Roth Contributions?
Replies: 12
Views: 1164

Re: How Much of a Hassle is it Going to be to Roll Back 2018 Roth Contributions?

Shouldn't be a problem. When this happened to me I just called VG and told then how much I needed to withdraw and I deposited it into my taxable account along with a small amount of gains. In the following years I was more aware and didn't make my final contribution until my taxes were completed.
by Mlm
Thu Nov 15, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: IRS announces 2019 Tax Rates, Standard Deduction, etc.
Replies: 27
Views: 5673

Re: IRS announces 2019 Tax Rates, Standard Deduction, etc.

oldcomputerguy wrote:
Thu Nov 15, 2018 2:45 pm
I notice that they made no mention of any adjustments to long-term capital gains brackets. Are those not also pegged to inflation?
This site gives more information about the widened CG brackets
https://www.kdpllp.com/irs-releases-new ... -and-more/
by Mlm
Wed Nov 14, 2018 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Failed to take RMD for 5 yrs. Inherited IRA from trust.
Replies: 9
Views: 1407

Re: Failed to take RMD for 5 yrs. Inherited IRA from trust.

This happened to someone I know. They took the full retroactive distribution, explained the error to the IRS and penalties were forgiven. In the end they paid more in taxes than if they had taken the distributions on time. Also, get to a tax Pro and get your delinquent taxes filed. Don't mess with t...
by Mlm
Fri Nov 09, 2018 6:56 pm
Forum: Personal Consumer Issues
Topic: High-end Christmas decorations
Replies: 41
Views: 4039

Re: High-end Christmas decorations

I sold all of my Christmas decorations at a garage sale. I couple of young newlyweds bought most everything I had. I'm sure that over time they have probably replaced a lot of things but I was happy that they had a nice tree for their first Christmas.
by Mlm
Fri Nov 09, 2018 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 15001

Re: How much money are you leaving your kids after you die?

I wonder if this is a generational issue. I would have never dreamed to ask my parents how much money they had. As a youngster I knew Dad's salary paid the bills and Mom's income went more towards non-necessities. I knew they budgeted their money carefully, but knew not to ask "how much does Dad ma...
by Mlm
Mon Nov 05, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Am I buying too much house??! What kind of mortgage?
Replies: 33
Views: 6711

Re: Am I buying too much house??! What kind of mortgage?

Financially I think you are fine. You can afford a house or an apartment in your desired location. It sounds like the move would add less stress and an improved quality of life so I say go for it ! Once you are in an area where you can easily spend some time on the things you enjoy new friends will ...
by Mlm
Fri Nov 02, 2018 10:09 am
Forum: Investing - Theory, News & General
Topic: I Bond fixed rate = 0.5%
Replies: 86
Views: 7785

Re: I Bond fixed rate = 0.5%

looks like based on their website the 3 months is the last 3 of interest. And it looks like the interest is compounded. "I bonds increase in value on the first day of each month, and interest is compounded semiannually based on each I bond's issue date. An I bond's issue date is the month and year ...
by Mlm
Thu Nov 01, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA and ACA PTC eligibility
Replies: 5
Views: 298

Re: COBRA and ACA PTC eligibility

I had the same circumstances when I applied ACA under my State run plan. I called the insurance company that I wanted to use and was advised to do the following: 1. During open enrollment, wait until after November 15th to apply for coverage starting January 1st (otherwise I would get coverage start...
by Mlm
Mon Oct 29, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Should I co-sign for relative?
Replies: 103
Views: 4978

Re: Should I co-sign for relative?

I wouldn't sign a $900/month lease for myself let alone someone else.
by Mlm
Mon Oct 22, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 101
Views: 5275

Re: 2019 Expenses > 2019 Income – Help us close the gap

Ron Ronnerson wrote:
Mon Oct 22, 2018 7:54 pm
OP here again. Any thoughts on accessing savings or Roth IRA contributions or getting a loan?
Don't try to borrow you way out of the situation. You have plenty of "wants" you can cut.
by Mlm
Wed Oct 17, 2018 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Down payment into Ally 1% offer, how will it affect mortgage applications?
Replies: 11
Views: 1087

Re: Down payment into Ally 1% offer, how will it affect mortgage applications?

Where does the 4-5% come in? I see 1.9% APY for a high yield savings account. A 12 month cd looks like 2.5% at Ally. This has been discussed in a previous thread https://www.bogleheads.org/forum/viewtopic.php?f=2&t=261504 also see: https://www.allypaybacktime.com/?CP=ppc-google-bkws-bank-ally-bank-...
by Mlm
Mon Oct 15, 2018 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy repayment for s-Corp owner
Replies: 10
Views: 730

Re: ACA subsidy repayment for s-Corp owner

I left the accounting field long ago, but I would think that if you use accrual based accounting vs. cash based accounting, that would make a difference. If you use accrual based accounting, I would think you should amend the prior return as the subsidies (or lack of) match the premiums. Edit: It s...
by Mlm
Sun Oct 14, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Placing mother in nursing home - advice
Replies: 37
Views: 3923

Re: Placing mother in nursing home - advice

Did your sister live in your mother's home as a caregiver? If she did for 2 years or more she may qualify for a caregiver-child exemption to the 5 year look back period. I would see an Eldercare Attorney regarding her options. https://www.payingforseniorcare.com/medicaid/caregiver-child-exemption.html
by Mlm
Sun Oct 14, 2018 6:15 pm
Forum: Personal Consumer Issues
Topic: How Much Is Your Sewer Bill?
Replies: 78
Views: 4151

Re: How Much Is Your Sewer Bill?

Sewer: $35/mo
Water: $15/mo
by Mlm
Sat Oct 13, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Neighbor discussing finances with me
Replies: 64
Views: 6110

Re: Neighbor discussing finances with me

A good friend of mine told me that her financial adviser didn't charge fees. :shock: I kept my mouth shut and we're still good friends.
by Mlm
Sat Oct 13, 2018 10:29 am
Forum: Investing - Theory, News & General
Topic: Social Security COLA - how is it applied?
Replies: 13
Views: 1345

Re: Social Security COLA - how is it applied?

Social Security benefits will increase by 2.8 percent beginning with the December 2018 benefits, which are payable in January 2019. See: https://www.ssa.gov/oact/cola/latestCOLA.html I would expect that her January check would include the COLA. The COLA is applied to everyone whether they decide to ...
by Mlm
Fri Oct 12, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 7304

Re: Just Divorced -- Need Help

As my divorce attorney said, divorce settlements are supposed to be equitable, but not necessarily equal. I doubt very much most divorces are split exactly down the middle, and assets can come in all forms, liquid, illiquid, taxable, pre-tax. A divorce is a hugely negative event, and much of the ti...
by Mlm
Thu Oct 11, 2018 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Unknown financial gift from relative
Replies: 8
Views: 1146

Re: Unknown financial gift from relative

I think it depends on how you found out about the intended gift. Are you sure its a done deal?
by Mlm
Thu Oct 11, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Lump sum instead of pension
Replies: 23
Views: 1286

Re: Lump sum instead of pension

jjwpls wrote:
Thu Oct 11, 2018 6:18 pm
indexonlyplease wrote:
Thu Oct 11, 2018 5:57 pm
I am laughing. You are worried about something that will occur in 25 yrs. Also, if you continue to work until 65 won't the pension increase?
The pension won’t increase as I have left that company.
Hands down I would take the money and run
by Mlm
Thu Oct 11, 2018 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 7304

Re: Just Divorced -- Need Help

I can never quite understand how the debt one spouse creates can be the responsibility of the other spouse in a divorce. It's pretty easy to understand. It's the net received that matters. A) gets $300 (assets) and $50 in debt = $250 B) gets $250 (assets) = $250 but A gets to complain that they got...
by Mlm
Thu Oct 11, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: early retirement for health reasons- pension option ss income leveling?
Replies: 46
Views: 2163

Re: early retirement for health reasons- pension option ss income leveling?

My income leveling option is calculated is based on SSNRA (66 years and 8 months for me). There seem to be quite a few different ways to take my pension, and that's what brought me here with my question. It doesn't seem to make adjustments for inflation, however. If I take a monthly annuity of $235...
by Mlm
Thu Oct 11, 2018 2:07 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 8441
Views: 1662334

Re: U.S. stocks in freefall

Mlm wrote:
Wed Oct 10, 2018 2:46 pm
It could be worse
And it is :shock:
by Mlm
Thu Oct 11, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage vs. Cash
Replies: 28
Views: 2299

Re: Mortgage vs. Cash

I would absolutely pay cash if you have the discipline to save every month. That's what I did 20 years ago. You are in a great position so I would take full advantage of that. Welcome to New York !
by Mlm
Wed Oct 10, 2018 2:46 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 8441
Views: 1662334

Re: U.S. stocks in freefall

It could be worse
by Mlm
Tue Oct 09, 2018 8:15 pm
Forum: Personal Consumer Issues
Topic: Mazda 3 w/ Snow tire or Subaru AWD with All Season Tire
Replies: 56
Views: 3606

Re: Mazda 3 w/ Snow tire or Subaru AWD with All Season Tire

I own a Mazda 3 with snow tires. I live at the top of a steep hill and get an average of over 120 inches of snow per season. I feel perfectly safe in the car. I don't think an AWD help a lot with traction in deep snow.
by Mlm
Mon Oct 08, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Postponing the bonus to next year. Is it a good idea?
Replies: 30
Views: 2006

Re: Postponing the bonus to next year. Is it a good idea?

celentano wrote:
Mon Oct 08, 2018 3:11 pm
However she asked me to talk to her boss about this. Would there be a problem if I talked to the boss.
If I were her boss, yes there would be a problem with you talking to me about her pay or any part of her employment. I would refuse to talk to you.
by Mlm
Sat Oct 06, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: What is your annual cost for health insurance?
Replies: 137
Views: 10074

Re: What is your annual cost for health insurance?

DW 60 and I'm 61 The Essential Plan: Enrollment exceeds 738,000 for 2018 April 2015, New York State of Health announced that they would introduce a Basic Health Program (BHP) for 2016 dubbed the “Essential Plan.” Enrollment in the Essential Plan began on November 1, 2015 for coverage effective Janu...
by Mlm
Mon Oct 01, 2018 6:08 pm
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 2026
Views: 376719

Re: What are you up YTD? [Year To Date]

65/35 (no international) 5.63% YTD
by Mlm
Mon Oct 01, 2018 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Suze Orman - "I hate the FIRE movement."
Replies: 75
Views: 9663

Re: Suze Orman - "I hate the FIRE movement."

I think Suze got bored with retirement
by Mlm
Sat Sep 29, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Layoffs – Insurance after COBRA
Replies: 16
Views: 2310

Re: Layoffs – Insurance after COBRA

I found that my States marketplace was much less expensive( with cost sharing and subsidies) than what I was paying for COBRA. I was able to change coverage for January 1st during open enrollment. If your state has it's own exchange you can find it here. https://www.healthcare.gov/marketplace-in-you...
by Mlm
Sat Sep 29, 2018 11:45 am
Forum: Personal Finance (Not Investing)
Topic: 0% loan to family member
Replies: 44
Views: 2752

Re: 0% loan to family member

I would let it be unless you want to ruin the relationship between you, your siblings and your father. It's his money and what's done is done.
by Mlm
Fri Sep 28, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 658
Views: 83493

Re: How much money do you want to retire?

But in general my feeling is that people will decide how much they need to reach the above goals, and then retire when those goals are achievable without earning money (putting aside issues of health or disability that force early retirement). It's not just health or disability. A layoff or some ot...
by Mlm
Thu Sep 20, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Hubby soon to be laid off
Replies: 74
Views: 7897

Re: Hubby soon to be laid off

It sounds like you guys are doing pretty well. In fact this could be viewed as a bit of an opportunity. I wrote out a whole post but am deleting it because I came around to what I think is a better idea for you guys. 1. Use your taxable investments to pay off the mortgage. You'll still have 6 figur...
by Mlm
Thu Sep 20, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8872

Re: Physical Banking - Any benefits anymore?

My local Chase account gives me free ATM, a place to deposit cash, no fee checking, a nice bill pay system and that ever popular medallion certificate.
I needed one last year and was in and out of the branch in less than five minutes. I keep my savings elsewhere.
by Mlm
Tue Sep 18, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 55
Views: 4030

Re: Reverse Mortgages - Pros, Cons

Ask him/her to redo the plan without the reverse mortgage. I would leave that as a last resort.
by Mlm
Sun Sep 16, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: I see now why Rollovers can take FOREVER ....
Replies: 74
Views: 8006

Re: I see now why Rollovers can take FOREVER ....

I rolled over an inherited IRA that was sitting in a passbook account at a small town bank. They wanted the actual passbook mailed to them so that they could "stamp it". My sister couldn't find her passbook so she had to go through a request that a new one be mailed to her and then she had to mail i...
by Mlm
Sun Sep 16, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me assess condo purchase and overall finances
Replies: 22
Views: 1287

Re: Please help me assess condo purchase and overall finances

Can someone comment on the 10% vs 20% argument. As I see it, the PMI is easily offset by the fact that I'll have more savings with 10% down that I can then invest or even put into a Ally no penalty CD. Also she claims the 10% down payment earns me a lower interest rate, could this be true? And fina...
by Mlm
Sun Sep 16, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: delaying claiming SS from age 64 to 70 while not working
Replies: 21
Views: 1632

Re: delaying claiming SS from age 64 to 70 while not working

The Social Security website can give you all the information you need https://www.ssa.gov/planners/retire/1943-delay.html It doesn't say what the treatment is if you get an extra few months of delay credit. I filed 6 mo short of age 70, but right now receive the amount I would have gotten had I fil...
by Mlm
Sun Sep 16, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: delaying claiming SS from age 64 to 70 while not working
Replies: 21
Views: 1632

Re: delaying claiming SS from age 64 to 70 while not working

I am in the same boat as OP and have a related question. Does the benefit increase occur only after 12 months of delay from FRA (ie anually) or does it accrue on a monthly basis? Monthly. Thanks for the response. It would be nice is SS benefit estimator tool reflected this. The Social Security webs...
by Mlm
Fri Sep 14, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Grocery Store Comparison App
Replies: 9
Views: 860

Re: Grocery Store Comparison App

I use the "Favado" app. It compares prices at the local stores that I choose. It helps to see sale items. Other than that I just keep a list of often purchased items and prices on my phone. It's not always a good deal to run from store to store.
by Mlm
Thu Sep 13, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 10522

Re: Massive Student Loan Debt - Fiancee

How about — (Joint income) minus (savings, taxes, joint expenses) equals (total personal spending funds available). (total personal spending funds available) divided by 2 equals (individual spending funds) In other words, after all bills are paid then you evenly split what’s left between you for pe...
by Mlm
Wed Sep 12, 2018 8:53 pm
Forum: Personal Consumer Issues
Topic: iPhone XS Max
Replies: 231
Views: 16146

Re: iPhone XS Max

One Option: Apple Announces New Trade-In Offer For Customers To Exchange Their Old iPhones

https://www.theonion.com/apple-announce ... 1829001894
by Mlm
Wed Sep 12, 2018 8:32 pm
Forum: Investing - Theory, News & General
Topic: 9/12/18 - CNBC - Crisis on Wall Street (10 PM EST)
Replies: 3
Views: 1133

9/12/18 - CNBC - Crisis on Wall Street (10 PM EST)

"Crisis on Wall Street: The week that shook the world"

TEN YEARS AFTER THE FALL OF A WALL STREET GIANT, CNBC'S ANDREW ROSS SORKIN SHEDS NEW LIGHT ON THE 2008 FINANCIAL CRISIS IN A CNBC ORIGINAL DOCUMENTARY

https://www.cnbc.com/crisis-on-wall-street-about/
by Mlm
Wed Sep 12, 2018 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 10522

Re: Massive Student Loan Debt - Fiancee

This isn't really a very unusual situation and couples tackle debt together all the time. The key is to word "together" even if one of you takes the lead on forming viable plans. If she is not at all concerned with forming a plan then I would be worried but that's what engagements are for. So how di...
by Mlm
Mon Sep 10, 2018 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: How to choose a real estate agent?
Replies: 24
Views: 2171

Re: How to choose a real estate agent?

I've sold a few houses over the years. One time I decided to hire the most popular agent in my neighborhood. She was a top seller, had a lot of years in the business and put together a great sales presentation. As it turned out she was away on vacation for the majority of the three month listing and...
by Mlm
Sun Sep 09, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Successful techniques to helping parents be less risky?
Replies: 15
Views: 1250

Re: Successful techniques to helping parents be less risky?

Do they have enough retirement income (social security, pensions, annuities) to cover their expenses? If they do then they can afford more risk.
by Mlm
Sun Sep 09, 2018 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: I think my father has a gambling problem
Replies: 78
Views: 6893

Re: I think my father has a gambling problem

I don't know, I get freebie and discount offers all the time and I only visit a casino with friends about once per year. Many of my friends go at least once per month and consider it an entertainment expense. Also, sometimes when family visits I need a break for a few hours just to get away from all...