Search found 257 matches

by SuzBanyan
Sat Aug 31, 2019 11:54 am
Forum: Personal Consumer Issues
Topic: Any Happy DVC owners here? [Disney Vacation Club]
Replies: 61
Views: 4969

Re: Any Happy DVC owners here?

Continued growth of airbnb and other short term rentals will keep hotel pricing reasonable. Don't sign up for a commitment that won't save you anything. I know a few DVC people - Stockholm Syndrome . The thing about Disney resorts at DW in particular is something that no AIRBnB will ever be able to...
by SuzBanyan
Sat Aug 31, 2019 11:42 am
Forum: Personal Consumer Issues
Topic: Any Happy DVC owners here? [Disney Vacation Club]
Replies: 61
Views: 4969

Re: Any Happy DVC owners here?

We have owned at DVC since 2005. We bought originally direct from Disney at Boardwalk, then added a few more points there a couple years later. We later bought some points at Grand Californian through resale in 2013 and then some more at GCV direct through Disney. Our typical use is for just my husb...
by SuzBanyan
Sun Aug 25, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange Info
Replies: 2
Views: 304

Re: 1031 Exchange Info

First, I’m not a tax advisor, but here some info that might help: When you received a gift of the multi family property, you also take the basis that you Dad had. I believe that would include all the depreciation history he had as well. When you did a 1031 exchange to the townhome, the history from ...
by SuzBanyan
Fri Aug 23, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out Refi - Influence on Capital gains?
Replies: 9
Views: 738

Re: Cash out Refi - Influence on Capital gains?

So, if I run a guesstimate assuming things stay the same until the day I ever decide to sell... which may never happen since it’s a great home in a great location. The numbers might look like this... 450k (Sellimg Price) - $139k (purchase price) = 311k (profit) 311k - 250k (CG exclusion) = 61k (Cap...
by SuzBanyan
Mon Aug 19, 2019 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2358

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

“You have to link by entering your sign-on credentials for your investment/savings accounts? No option to enter the Ticker letters/shares in lieu of the direct links to your portfolio?” You can enter each holding in each account without linking to your online account. Of course, this takes more time...
by SuzBanyan
Sun Aug 18, 2019 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on quickly funding an irrevocable trust with IRA annuities
Replies: 16
Views: 872

Re: Advice on quickly funding an irrevocable trust with IRA annuities

Before triggering a massive tax bill, slow down and make sure that the steps being taken are the right ones. If it takes a month, all you lose is one more month more before your uncle becomes eligible for Medicaid. If distributions are made out of IRAs, there may be no going back. Not sure of the am...
by SuzBanyan
Sun Aug 18, 2019 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2358

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

OK, not what you've asked for, but low cost review that some have reported as useful: https://planvisionmn.com/ $96/year. Oops, their site says the first year is $134 now. I haven't used it, but I believe you input all your data, which remains available to you while you continue with the service. I...
by SuzBanyan
Sat Aug 17, 2019 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring a house & tax issues
Replies: 26
Views: 1227

Re: Transferring a house & tax issues

In regards to his wife, she dies years ago (about 15 years ago) Sounds like prop 58 is something we need to explore more I’m a little confused on it. So what we would do is rent it for a period of time and then we could buy it and the Perry tax basis would be transferred to us at the rate my FIl cu...
by SuzBanyan
Sat Aug 17, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2358

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

OK, not what you've asked for, but low cost review that some have reported as useful: https://planvisionmn.com/ $96/year. Oops, their site says the first year is $134 now. I haven't used it, but I believe you input all your data, which remains available to you while you continue with the service. I...
by SuzBanyan
Sat Aug 17, 2019 1:16 pm
Forum: Personal Consumer Issues
Topic: Book or documentary recommendations on American economic dominance
Replies: 26
Views: 1605

Re: Book or documentary recommendations on American economic dominance

This got me thinking... What DID contribute to making America the wealthiest country on the planet? Another book on this topic you might consider is Edward Baptist's The Half Has Never Been Told: Slavery and the Making of American Capitalism which won a ton of awards in 2014 when it came out. https...
by SuzBanyan
Sat Aug 17, 2019 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring a house & tax issues
Replies: 26
Views: 1227

Re: Transferring a house & tax issues

Assuming your FIL will be comfortable in retirement even if he transfers the family home, there are 2 sets of tax issues to work through. Income tax will be due on the capital gain on any sale of FILs house, which is the difference between the “basis” and the sale price, less $250k single homeowners...
by SuzBanyan
Fri Aug 16, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2358

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

OK, not what you've asked for, but low cost review that some have reported as useful: https://planvisionmn.com/ $96/year. Oops, their site says the first year is $134 now. I haven't used it, but I believe you input all your data, which remains available to you while you continue with the service. I...
by SuzBanyan
Fri Aug 16, 2019 9:03 am
Forum: Personal Investments
Topic: Investing Father's Assets Who Is In Nursing Home (POA)
Replies: 68
Views: 4374

Re: Investing Father's Assets Who Is In Nursing Home (POA)

I am more than slightly uncomfortable with this thread. The OP appears to be more interested in maximizing the amount of money he and his sister get from his father's inheritance than worrying about the care, happiness, and joy in his father's life. .... I disagree with your assessment and think yo...
by SuzBanyan
Mon Aug 12, 2019 4:00 pm
Forum: Personal Investments
Topic: Critique My 120k Per Year Plan
Replies: 29
Views: 3740

Re: Critique My 120k Per Year Plan

I would do ballpark tax planning for each age range. My goal would probably be taxable income smoothing; unused space in lower brackets is an opportunity lost forever, hence advice above for Roth conversions in first part of retirement. Admittedly ACA subsidies, IRMAA thresholds, and other nonlinea...
by SuzBanyan
Wed Jul 31, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Is a 300/500 car policy truly enough?
Replies: 54
Views: 4906

Re: Is a 300/500 car policy truly enough?

Years ago, I was sued for $1M after a car accident. At the time, my coverage was only $300K. My insurance company settled for $10,000. I had to wait 2 years ago before I could increase my limit. No surprise that I now have more than a $1M.
by SuzBanyan
Thu Jul 25, 2019 5:43 pm
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Re: Adding Solo Roth 401(k) for side hustle?

Going through the worksheet in chapter 5 of publication 560 reminded me why I thought Solo 401ks were complicated! Seriously, thank you all for your help.
by SuzBanyan
Thu Jul 25, 2019 3:00 pm
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Re: Adding Solo Roth 401(k) for side hustle?

Tamarind: thanks for confirming that the total allowed for the employees contribution to the 2 plans will be $25K in 2019. To confirm that contribution calculation is complicated, I realized that my math on the Schedule C earnings needed was wrong. According to an online calculator, for the employee...
by SuzBanyan
Thu Jul 25, 2019 1:28 pm
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Re: Adding Solo Roth 401(k) for side hustle?

Obviously, I got it wrong on the Vanguard Solo 401k not offering a Roth option. Thanks for the heads up. This makes my life easier as I will need to terminate my Simple at Vanguard before opening the 401k. I can’t see the need to rollover my IRAs to my Solo 401k. Am I correct when calculating my con...
by SuzBanyan
Thu Jul 25, 2019 11:09 am
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Re: Adding Solo Roth 401(k) for side hustle?

Thanks Tamarind. When I first set up my Simple IRA in 2003, I had this feeling that a Solo 401k would be a pain. Good to hear that you found it easy to set up and to administer so far. I will have to set mine up at Fidelity, instead of Vanguard, because I don’t think that Vanguard offers a Roth opti...
by SuzBanyan
Wed Jul 24, 2019 5:37 pm
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Re: Adding Solo Roth 401(k) for side hustle?

Megabad: Thanks for your thoughtful response. I don’t think that a mega backdoor Roth will ever make sense for me as long as I have contributions from my paycheck made semimonthly to my Simple IRA. Even if I rolled every other pre-tax dollar out of my tIRAs, those December contributions would likely...
by SuzBanyan
Wed Jul 24, 2019 4:02 pm
Forum: Personal Investments
Topic: SIMPLE IRA - Transfer of Funds from Edward Jones to Fidelity (Send help!)
Replies: 36
Views: 2561

Re: SIMPLE IRA - Transfer of Funds from Edward Jones to Fidelity (Send help!)

The OP said she had a prior Simple IRA with another employer and that all the funds in that have been transferred to her tIRA. Doesn’t this mean the 2 year waiting period has already been satisfied and she does not need a new frozen Simple? That instead, she can just transfer to an existing tIRA?
by SuzBanyan
Wed Jul 24, 2019 1:44 pm
Forum: Personal Investments
Topic: Adding Solo Roth 401(k) for side hustle?
Replies: 13
Views: 974

Adding Solo Roth 401(k) for side hustle?

I have a salaried job and will contribute the max of $16K to my employer sponsored Simple IRA for 2019. My employer also makes a contribution but it is based on salary, not my Simple contribution. Some background. When I started with this employer, there was no retirement plan. I had a side hustle a...
by SuzBanyan
Wed Jul 24, 2019 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: If you are already retired.. is this true?
Replies: 49
Views: 6037

Re: If you are already retired.. is this true?

It does seem to be a way to justify OMY ‘til retirement. As your house keeps appreciating, that perfect nest egg stays just out of reach.
by SuzBanyan
Wed Jul 17, 2019 6:14 pm
Forum: Personal Consumer Issues
Topic: Lightweight, durable, laptop bag
Replies: 29
Views: 1375

Re: Lightweight, durable, laptop bag

I don’t know if a crossbody bag would work for you, but I have been using the Kipling Machida for years for up to 2 ipads and an ereader. According to the website, it is: “Dimensions:10.5"L x 11.75"H x 2"D”. Very minimal and light. https://www.kipling-usa.com/machida-crossbody-bag/HB6222.html?dwvar_...
by SuzBanyan
Sun Jul 14, 2019 10:15 am
Forum: Personal Consumer Issues
Topic: "Objective" Importance of Keeping Your Physicians?
Replies: 63
Views: 4864

Re: "Objective" Importance of Keeping Your Physicians?

I think it’s also possible that preference for ones own continuing care may be different than preference for other family members. For example, many may have a stronger preference for continuing care from a pediatrician for their children. This is evidenced by the backlash when patients are “fired” ...
by SuzBanyan
Sat Jul 13, 2019 7:28 pm
Forum: Personal Investments
Topic: Advice for a College Grad Looking to Build Wealth
Replies: 31
Views: 1687

Re: Advice for a College Grad Looking to Build Wealth

Thank you!! Unfortunately, an HSA is out of the equation as I am still under my father's health insurance. You may be able to contribute to a family HSA, as long as the insurance is HSA eligible, because it is unlikely that you are still a dependent of your parents. At 23 and no longer a student, y...
by SuzBanyan
Wed Jul 10, 2019 4:52 pm
Forum: Personal Investments
Topic: Trying to "time the market" at annual rebalance ONLY?
Replies: 16
Views: 1541

Re: Trying to "time the market" at annual rebalance ONLY?

I am surprised you need to rebalance at all if you are 20 years away from retirement. You should just be adjusting your target allocation when the year rolls over and directing new contributions to the right place to get you to that target. You don't need to physically trade 1% of your current stoc...
by SuzBanyan
Mon Jun 24, 2019 11:16 am
Forum: Personal Consumer Issues
Topic: citi discontinuing citi price rewind
Replies: 66
Views: 5619

Re: citi discontinuing citi price rewind

[duplicate]
by SuzBanyan
Mon Jun 24, 2019 11:00 am
Forum: Personal Consumer Issues
Topic: citi discontinuing citi price rewind
Replies: 66
Views: 5619

Re: citi discontinuing citi price rewind

The info below concerns the Citi Costco card only! The info was on my Citi Costco card site! What Changes: Effective September 22, 2019, Trip Cancellation & Interruption Protection and Citi® Price Rewind will be discontinued and will no longer be provided for purchases made on or after that date. C...
by SuzBanyan
Fri May 31, 2019 8:23 am
Forum: Personal Consumer Issues
Topic: Efficient Disneyland visit for family 1-2 days
Replies: 37
Views: 2638

Re: Efficient Disneyland visit for family 1-2 days

For those considering Disneyland (cal) - Galaxies Edge opens today and you need reservations at the least - best to avoid DL for the next 2-3 months with this new opening. With 2nd ride in Galaxies Edge opening later this year and the multigenerational attraction of Star Wars, expect crowds for the...
by SuzBanyan
Wed May 29, 2019 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 180
Views: 17217

Re: Fun paid jobs after FIRE

Just spoke with a childhood friend who has “retired” from a job in public health. He now works as a customer service rep for an airline at his local smallish airport. He is enjoying the travel perks with his wife, who is also retired. When I asked him about dealing with irate customers, he said it’s...
by SuzBanyan
Fri May 17, 2019 10:42 am
Forum: Personal Investments
Topic: SIMPLE IRA--not so simple
Replies: 8
Views: 782

Re: SIMPLE IRA--not so simple

I was able to transfer assets online from my Vanguard Simple IRA to my Vanguard tIRA. Both are listed in my personal accounts. I just clicked on the Simple account and “exchange”, then one option under “where’s the money going to” was my tIRA.
by SuzBanyan
Wed Mar 20, 2019 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Personal HSA Account Transfers
Replies: 7
Views: 495

Re: Personal HSA Account Transfers

You should also be aware that the bank currently holding funds may charge a fee for a “trustee to trustee” transfer, which can be done as often as you like. For a while my bank charged $25 per transfer. As a result, I used the option to directly rollover funds to a different provider by writing a ch...
by SuzBanyan
Wed Mar 13, 2019 1:16 pm
Forum: Personal Investments
Topic: Can't see retiring without 15x-30x fixed income
Replies: 217
Views: 16624

Re: Can't see retiring without 15x-30x fixed income

I have been part time for more than 2 years now and my salary more or less went from $200k to $100k. My company was in its own transition after a significant property sale. That combined with my feeling that I was more or less at FI, gave me the comfort in asking for the reduced hours/pay. My employ...
by SuzBanyan
Mon Mar 11, 2019 1:52 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3958
Views: 1127099

Re: What Book Are You Currently Reading? Part VI

I also just finished Tara Westover’s “Educated”. It was beautifully written and provided a view into her unique unbringing. One of the best books I have read in a while. After a short break to read fiction, I then read another interesting nonfiction work: “Unexampled Courage: The Blinding of Sgt. Is...
by SuzBanyan
Wed Mar 06, 2019 10:26 am
Forum: Personal Investments
Topic: Should I rebalance for tax efficiency and/or extend retirement age?
Replies: 8
Views: 831

Re: Should I rebalance for tax efficiency and/or extend retirement age?

If you can live on $150k plus income tax, you can retire in 5 years, but you will likely need SS to do so. At a 4% withdrawal, you will need $4M to spend $160k and it looks like you will have something less than that. With SS, which is probably a significant amount for you given your income with spo...
by SuzBanyan
Sat Feb 23, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: [Are we eligible for the 20% tax deduction]
Replies: 35
Views: 2563

Re: [Are we eligible for the 20% tax deduction]

I could be wrong but I thought W2 wages paid to the business owner (think S-Corp) were specifically excluded. You are correct that an S Corp wages to owners are deducted from gross earnings to determine qualified business income for the QBI deduction. This can actually be helpful for taxpayers with...
by SuzBanyan
Sat Feb 16, 2019 9:26 am
Forum: Personal Consumer Issues
Topic: Anyone use Turo as Side Income?
Replies: 11
Views: 1857

Re: Anyone use Turo as Side Income?

Hardhitter: The CA insurance code section you quoted only applies if “The annual revenue received by the vehicle's owner which was generated by the personal vehicle sharing of the vehicle does not exceed the annual expenses of owning and operating the vehicle....”. Thus, while you can benefit if you...
by SuzBanyan
Thu Feb 14, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: self employed tax question
Replies: 81
Views: 4506

Re: self employed tax question

I'm not an expert here, but I have been self-employed for the last 8 years or so and here are the top things I would keep in mind: 1. It is painful paying quarterly taxes. It is much less painful if you set that money aside in a savings account little by little as you get paid. When it comes time t...
by SuzBanyan
Wed Feb 13, 2019 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Big IRA accounts
Replies: 89
Views: 13399

Re: Big IRA accounts

Was considering taking some addl distributions, pay 24% tax, and buy more munis If you want to take additional distributions for your IRAs, I would think you would be better off doing a Roth conversion. This would allow you to shield all additional income generated from taxes, including when calcul...
by SuzBanyan
Tue Feb 12, 2019 10:14 am
Forum: Personal Finance (Not Investing)
Topic: chase private client [any fees?]
Replies: 9
Views: 890

Re: chase private client [any fees?]

I can’t answer with respect to specific lots because I have never had any sales in the account. All of my lots were acquired years ago at Vanguard then transferred in kind to CPC. I have never had a paper loss on this investment to harvest for taxes. I don’t reinvest dividends because I am slightly ...
by SuzBanyan
Tue Feb 12, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: chase private client [any fees?]
Replies: 9
Views: 890

Re: chase private client [any fees?]

This should generally answer your question: https://chaseprivateclient.chase.com/banking/#fee-benefits Basically: free checking, free ATM use worldwide, free wire transfers, free small safe deposit box, free checks, higher limits on remote check deposit and ATM withdrawals. I have 3 accounts with Ch...
by SuzBanyan
Mon Feb 11, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Big IRA accounts
Replies: 89
Views: 13399

Re: Big IRA accounts

considering partial roth conversions but this will bump up our medicare part b by 2k/yr also taking added distributions and buying more munis Just remember that income from tax-free investments is added back to your Adjusted Gross Income to calculate the Income Related Medicare Adjustment Amount (I...
by SuzBanyan
Thu Feb 07, 2019 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Is it easy to withdraw contributions from a Roth IRA?
Replies: 15
Views: 1094

Re: Is it easy to withdraw contributions from a Roth IRA?

Why does 15 or 20 years from now matter for MarkCoop, who is currently age 52? Can’t he can withdraw both contributions and earnings tax and penalty free as soon as he is 59.5? If he is going to understate his contributions, he needs to make sure he doesn’t need or want to withdraw any additional co...
by SuzBanyan
Thu Feb 07, 2019 10:22 am
Forum: Personal Finance (Not Investing)
Topic: How The New QBI Deduction-Reduction Ruins The Value Of Pre-Tax Retirement Plans For Small Business Owners
Replies: 57
Views: 4517

Re: How The New QBI Deduction-Reduction Ruins The Value Of Pre-Tax Retirement Plans For Small Business Owners

An example will illustrate. A sole proprietor has $100K in net self-employment earnings after 1/2 SE tax. He takes no self-employed health insurance deduction and makes no employer contribution. Their net QBI is $100K and their QBI deduction = $20k A sole proprietor has $100K in net self-employment...
by SuzBanyan
Tue Jan 29, 2019 9:41 am
Forum: Personal Investments
Topic: Sick to my stomach [Class C fund fees and portfolio questions]
Replies: 42
Views: 4035

Re: Sick to my stomach [Class C fund fees and portfolio questions]

—snip— If you make periodic transfers, you should go ahead and max out your SIMPLE, both the 19k employee and the 3% employer contributions. You can make your contributions to a no-load money market account. This trustee to trustee asset transfer is frequently discussed on this forum. One correctio...
by SuzBanyan
Mon Jan 28, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Sec 199A business tax deduction
Replies: 46
Views: 3139

Re: Sec 199A business tax deduction

I think the issue is that there is no worksheet for Qualified Business Income. The worksheet for the Qualified Business Income deduction (1040 line 9 instructions on page 37) starts with Qualified Business Income. I think many people thought that Net Income from Scedule C would = QBI from that busin...
by SuzBanyan
Wed Jan 23, 2019 4:06 pm
Forum: Personal Investments
Topic: Retire in 2 years. Advice for plan for withdrawals, Roth conversions & SS
Replies: 52
Views: 5233

Re: Retire in 2 years. Advice for plan for withdrawals, Roth conversions & SS

With regard to your wife’s Simple IRA, if 2 years have passed since her first contribution, she can roll it tax free into a tIRA or another Simple IRA. (Less than 2 years means she can only roll it into a Simple IRA). This is true even if she is still employed and still making regular contributions ...