Search found 290 matches

by NancyABQ
Sun Aug 09, 2020 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Pay Yourself Back
Replies: 20
Views: 1948

Re: Chase Sapphire Pay Yourself Back

Hey everyone, I literally just heard about this and don't recall seeing it posted on this forum or anywhere else for that matter. I can't believe I missed this and plenty of you prolly know about it, but did you see that Chase Sapphire cards are having a bonus pay me back feature due to the coronav...
by NancyABQ
Sat Jul 11, 2020 4:12 pm
Forum: Personal Investments
Topic: 81 yr old -need simple investment strategy
Replies: 56
Views: 5777

Re: 81 yr old -need simple investment strategy

Personally, and this is just my opinion -- I would not be worrying about having your Mom do Roth conversions. It only benefits her heirs, and it costs her extra money. Her nest egg isn't so huge that I would feel it to be justified. Also, if the current Traditional IRA is going to be divided among m...
by NancyABQ
Fri Jun 05, 2020 4:04 pm
Forum: Personal Investments
Topic: Asset allocation across inherited and normal IRAs
Replies: 11
Views: 308

Re: Asset allocation across inherited and normal IRAs

Is the plan to distribute the Inherited Roth IRA (all stocks) all in year 10? That's an aggressive allocation for money that has a 10 year draw down. Perhaps make that more conservative and increase the allocation in taxable to be 100% stock. And distributing the Roth in year 10 is the plan. But I'...
by NancyABQ
Thu Feb 13, 2020 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Early inheritance for one - how to equalize disbursement?
Replies: 65
Views: 4252

Re: Early inheritance for one - how to equalize disbursement?

I would give the other two what the first one got and divide the remainder. This is how my parents handled it for a similar situation. Simple enough. The children were aware of what was being done and how it was intended to be handled (what was in the will) so if they had an objection, I guess they...
by NancyABQ
Sun Feb 02, 2020 10:07 am
Forum: Personal Investments
Topic: My Sis is going to Ray James, is this fee right?
Replies: 94
Views: 7083

Re: My Sis is going to Ray James, is this fee right?

As a confirmed DIY investor I'm floored at wrap fees of 2.25%. And really 1.75% for $2-$5 million? I thought maybe there were other types of accounts, maybe a lower tier of service, that had lower fees. I'm not anti-advisor because I think there are lots of people that need guidance and help. It's ...
by NancyABQ
Thu Jan 23, 2020 11:30 pm
Forum: Personal Investments
Topic: Closest Schwab equivalents to the various Vanguard funds?
Replies: 9
Views: 1101

Re: Closest Schwab equivalents to the various Vanguard funds?

I'm also with Scwhab, but thinking of switching all of my Roth investment into Schwab mutual funds because they are less tax efficient, but more importantly I can invest any value rather than what the price is on the ETF. You can just do what I do -- purchase ETFs for all the major holdings and kee...
by NancyABQ
Thu Jan 23, 2020 4:26 pm
Forum: Personal Investments
Topic: Reporting capital gain on sale of home
Replies: 8
Views: 834

Re: Reporting capital gain on sale of home

The last time I sold a house (at a loss...) I did receive a letter from the IRS a year or so later claiming I must owe taxes in the full amount of the sale price. I just responded with a copy of the paperwork showing that I actually had a loss, and they went away. I assume this was because the title...
by NancyABQ
Sat Jan 11, 2020 2:24 pm
Forum: Personal Investments
Topic: Inherited RMD Reminders
Replies: 20
Views: 1378

Re: Inherited RMD Reminders

I took my inherited IRA RMD late this year (2nd week of December or so), because I wanted to figure out how much taxes to withhold to reach Safe Harbor. I got a call from "my guy(*)" at Schwab in November to remind me to take it. I didn't get any kind of automated reminder, though. Maybe I would hav...
by NancyABQ
Thu Jan 09, 2020 8:23 pm
Forum: Personal Investments
Topic: Taking over from my financial planner
Replies: 17
Views: 2117

Re: Taking over from my financial planner

Since most of the fees for the UITs (which are probably very high) have probably already been paid, I would probably suggest letting them mature naturally. That is assuming 1) they will mature in a 1-3 year time-frame and 2) you are generally happy with what they are invested in. But, definitely don...
by NancyABQ
Fri Jan 03, 2020 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

So to OP as well as other readers (and especially to me!) : it'll be worth every dollar to work with an experienced CPA / tax attorney when it comes to tax returns for all except the simplest trusts. Thanks for all the detailed info. An additional summary point regarding all types of trusts would b...
by NancyABQ
Tue Dec 31, 2019 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

We have two different authoritative answers to this question. I hope some one can clarify which is correct as I am also interested in the answer. I'm no expert, but have been doing a couple of trust tax returns for about 20 years. I have always used the dividends first and then capital gains method...
by NancyABQ
Sun Dec 29, 2019 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

Whoa... okay thanks ThePrune and MarkNYC. I had suspected a pro-rating might apply, and you have confirmed that... it might apply! I guess what I should do now is check the 1041 for the trust of Beneficiary #2, because last year I did do only a partial distribution of that income, and maybe I can fi...
by NancyABQ
Sun Dec 29, 2019 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

Thanks for the responses, bsteiner. Do you know offhand if my idea is correct, that the income comes out of the trust with capital gains last, so that if I don't distribute all the income in my example, the $3000 remaining would all be capital gains? Or is the answer "it depends"? P.S. I just learne...
by NancyABQ
Sun Dec 29, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

If you pay an accountant to help with the trust income tax return, they should absolutely be able to advise you on this question. They can input everything to their software since they know the full picture, and tell you exactly what the K1 will look like. You/they even have 65 days into 2020 to fi...
by NancyABQ
Sun Dec 29, 2019 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Re: Trust taxation question

Income taxes are a factor for trustees to consider in deciding on distributions. But there may be other factors for the trustees to consider in a given case. For example, trustees may want to consider the beneficiaries' current and expected future needs, whether a beneficiary is likely to have a ta...
by NancyABQ
Sun Dec 29, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Trust taxation question
Replies: 15
Views: 1511

Trust taxation question

So, I am the trustee of an irrevocable trust. I can distribute essentially any amount of money that I deem to be in the interests of the beneficiary. Specifically I can also distribute capital gains (I guess some trusts can't, which complicates me trying to understand this issue). In the past, I hav...
by NancyABQ
Tue Dec 17, 2019 12:16 am
Forum: Personal Investments
Topic: Converting mutual funds to index funds efficiently
Replies: 9
Views: 659

Re: Converting mutual funds to index funds efficiently

At the moment, I have 3 accounts: Savings, Rollover IRA, Roth IRA. Savings account: 1/3 of my saving are in VTSAX already, the other 2/3 are spread across 17 different funds and ETFs. Rollover IRA, Roth IRA: money is spread across 5 different funds and ETFs All of these funds/ETFs have pretty high ...
by NancyABQ
Wed Dec 11, 2019 11:34 pm
Forum: Personal Investments
Topic: Slowly transfer Inherited IRA to Roth (possible scenario?)
Replies: 5
Views: 369

Re: Slowly transfer Inherited IRA to Roth (possible scenario?)

Is it possible to manually withdraw (from Vanguard) a certain amount monthly from a non-spousal Inherited IRA above the yearly RMD? I plan to put that money into my Roth. I've already calculated the amount + taxes that would be required to max out the Roth at 7k for the year, and it would only take...
by NancyABQ
Wed Dec 11, 2019 11:38 am
Forum: Personal Investments
Topic: Unexpected loss of MIL, Inherited IRA, and How to Restructure Investments
Replies: 34
Views: 2571

Re: Unexpected loss of MIL, Inherited IRA, and How to Restructure Investments

What I would recommend for action items this year: 1) Make sure 2019 RMD has been taken. 2) Get Inherited IRA properly re-titled in Wife's name as a beneficiary IRA. 3) Tell FA not to do any trading (other than selling to finance RMD if necessary) until further notice. They can feel free to propose ...
by NancyABQ
Tue Nov 26, 2019 8:47 am
Forum: Personal Investments
Topic: Investment issues for dying Mother
Replies: 18
Views: 1681

Re: Investment issues for dying Mother

There is no longer any fee for Vanguard (or any other) ETFs at Schwab. Schwab would still charge me $49.95 to buy a Vanguard mutual fund, so I just buy ETFs if I want the Vanguard funds. (But I feel OP shouldn't be worrying about this kind of detail at the moment) The trouble is that Vanguard doesn...
by NancyABQ
Mon Nov 25, 2019 9:16 pm
Forum: Personal Investments
Topic: Investment issues for dying Mother
Replies: 18
Views: 1681

Re: Investment issues for dying Mother

Schwab does have any advisory service but I don’t know the details. But I believe you can buy the Vanguard funds through Schwab. Technically yes, but in practice this would be a bad idea due to the high fees Schwab charges for Vanguard funds. It would make more senes to either roll your own or purc...
by NancyABQ
Mon Nov 25, 2019 8:54 pm
Forum: Personal Investments
Topic: Investment issues for dying Mother
Replies: 18
Views: 1681

Re: Investment issues for dying Mother

Condolences to you and your Mom on your situation. I went through this a couple years ago with my Mom :( I don't think you need to rush to make major changes to your mother's investments. I agree with the suggestion to do a transfer-in-kind to Schwab. Then you can take your time figuring out if the ...
by NancyABQ
Sat Nov 16, 2019 3:21 pm
Forum: Personal Investments
Topic: Adventures in asset relocation at Schwab
Replies: 9
Views: 1088

Re: Adventures in asset relocation at Schwab

I'm not sure why it was hard for you to find the "Open Trades" on the Schwab website. They have a whole section devoted to them. If you hover on the "Trade" tab at the very top (second from the left) it will bring down a big menu with a section (top of third column) called "Trade Status". It has ope...
by NancyABQ
Sat Nov 16, 2019 3:05 pm
Forum: Personal Investments
Topic: Inheriting IRA. Do I have to open account with existing firm?
Replies: 5
Views: 334

Re: Inheriting IRA. Do I have to open account with existing firm?

Inherited IRAs have to be handled just right, in terms of titling and etc. I think it is best to let the current firm handle the transferring and titling. Not sure if it's *required* but it's probably best. If it gets screwed up, you might end up losing all the benefits of the tax-deferred growth as...
by NancyABQ
Wed Nov 13, 2019 10:47 am
Forum: Personal Investments
Topic: Schwab or Vanguard simple ETFs portfolio at Schwab
Replies: 14
Views: 1759

Re: Schwab or Vanguard simple ETFs portfolio at Schwab

Note that this thread is over a year old, and Schwab no longer charges trading fees for any ETFs.

So, purchase whatever you want!
by NancyABQ
Sun Nov 10, 2019 12:15 am
Forum: Personal Investments
Topic: Need Help To Plan for Early Retirement
Replies: 18
Views: 2528

Re: Need Help To Plan for Early Retirement

Situation: Based on projection, in 5 years, our portfolio should reach 10millions conservatively (unless recession hits). We are very fortunate, a few position of our stocks have grown significantly over the last few years which pushed the size of portfolio beyond what we expected. This worries me ...
by NancyABQ
Thu Nov 07, 2019 9:13 pm
Forum: Personal Investments
Topic: Help with investment strategy - newly retired
Replies: 4
Views: 687

Re: Help with investment strategy - newly retired

1) Currently all of our money is at Schwab. Would not have a problem moving to Vanguard but would be easier to keep in one place as we bank through schwab as well. We are looking for the allocation and funds that you would recommend for us. We do like what we have read in the boglehead threads rela...
by NancyABQ
Mon Nov 04, 2019 10:37 am
Forum: Personal Investments
Topic: Moving from Raymond James to Schwab - taxable account help
Replies: 3
Views: 307

Re: Moving from Raymond James to Schwab - taxable account help

The first question is whether RJ is going to charge you transaction/broker fees to sell the holdings. If they will charge a fee (beyond the account closing fee that Schwab should be willing to reimburse), then definitely do a "transfer in kind" to Schwab. I'd probably recommend doing the transfer in...
by NancyABQ
Mon Sep 30, 2019 8:37 pm
Forum: Personal Investments
Topic: Advice for 95 year old
Replies: 14
Views: 2659

Re: Advice for 95 year old

Thanks for the advice. I lost her yesterday, and I'm really glad I'm not in the middle of rearranging anything. I'm sorry for your loss. I went through this a couple years ago :( I think you should make sure her 2019 RMD is taken care of before the end of the year, and otherwise there is no rush to...
by NancyABQ
Tue Jul 02, 2019 11:03 am
Forum: Personal Investments
Topic: HSA -- Keep or simplify
Replies: 4
Views: 364

Re: HSA -- Keep or simplify

I would probably clear it out. Just put the money in a tax-efficient index fund. Exception might be if you might be able to use an HSA eligible ACA plan in early retirement (before medicare). Having the extra HSA contribution can help to stay under the ACA subsidy cliff. If you would likely be on a...
by NancyABQ
Tue Jul 02, 2019 10:44 am
Forum: Personal Investments
Topic: HSA -- Keep or simplify
Replies: 4
Views: 364

HSA -- Keep or simplify

So, I'm just looking for some thoughts on this one. It's a pretty minor issue. Age: 57 Single Employed part-time with health insurance paid by employer Could retire any time I want at this point. I would be responsible for my own health insurance after that (budgeting ~$20K/yr for healthcare). Facts...
by NancyABQ
Tue Jun 25, 2019 12:08 pm
Forum: Personal Investments
Topic: Rebalancing at Schwab
Replies: 5
Views: 728

Re: Rebalancing at Schwab

I'm retired and currently have two retirement accounts; one with my previous employer managed by Fidelity, and one that was set up at Schwab by a money manager that I no longer use. The Fidelity account is very simple to rebalance. I just go to a rebalance screen which shows the percentages of all ...
by NancyABQ
Thu Jun 20, 2019 10:01 am
Forum: Personal Investments
Topic: Bond Fund Question - Charles Schwab / Vanguard
Replies: 8
Views: 1512

Re: Bond Fund Question - Charles Schwab / Vanguard

By the way, when buying Vanguard funds from Schwab, the fees will be much lower if you buy the ETFs instead of the mutual funds. I am on too slow of an internet connection to look up the symbols for you, but the VBTLX most definitely has an ETF equivalent. Transaction fee is something like $5 vs $5...
by NancyABQ
Thu Jun 20, 2019 7:29 am
Forum: Personal Investments
Topic: Bond Fund Question - Charles Schwab / Vanguard
Replies: 8
Views: 1512

Re: Bond Fund Question - Charles Schwab / Vanguard

By the way, when buying Vanguard funds from Schwab, the fees will be much lower if you buy the ETFs instead of the mutual funds. I am on too slow of an internet connection to look up the symbols for you, but the VBTLX most definitely has an ETF equivalent. Transaction fee is something like $5 vs $50...
by NancyABQ
Fri May 10, 2019 8:42 pm
Forum: Personal Investments
Topic: Timing of Roth Conversion
Replies: 7
Views: 927

Re: Timing of Roth Conversion

The reason to convert early would be that you get more potential tax-free growth in the Roth for a longer time period. The reason to convert later would be that you are more certain of your income for the year, so you wno't accidentally push past some tax cliff due to unanticipated income later in t...
by NancyABQ
Fri May 10, 2019 3:39 pm
Forum: Personal Investments
Topic: Time to fire the financial assistant. Help me with the courage.
Replies: 41
Views: 4522

Re: Time to fire the financial assistant. Help me with the courage.

I transferred an Inherited IRA to Schwab and had no issues with it. The paperwork was all filed with Schwab, and it was a little bit more detailed than other types of transfers -- had to fill in paper forms instead of something online. But other than that it went smoothly. I did go to the local offi...
by NancyABQ
Thu May 09, 2019 1:15 pm
Forum: Personal Investments
Topic: evaluating the benefits of Wealthfront's "Direct Indexing" product - offering my real-life data
Replies: 1
Views: 474

Re: evaluating the benefits of Wealthfront's "Direct Indexing" product - offering my real-life data

My major question: is the tracking error inherent in an approach like this indeed outweighed by Tax Alpha, as suggested by Wealthfront's literature , when looking at real-life data from the last six months? I don't have any profound analysis to offer, but my immediate thought on seeing this was tha...
by NancyABQ
Mon May 06, 2019 9:46 pm
Forum: Personal Investments
Topic: Noob question about CDs
Replies: 6
Views: 739

Re: Noob question about CDs

It was a CD purchased through Schwab, but from a 3rd party bank. I didn't receive any info about options for when it matures. I guess I will have to contact Schwab. It sounds like a brokered CD. The principal should show up back in your brokerage account. It would be separate from the interest that...
by NancyABQ
Sun May 05, 2019 8:03 pm
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

Re: CDs in early retirement to enable Roth Conversions?

First of all, I'd like to correct my previous post. Most of the time I comment on situations where a couple is filing as MFJ. The below comment would be true for Marrieds, but not for Singles, which I forgot that this Original Poster is. I predict that the RMDs at age 71 will push you into the 24% ...
by NancyABQ
Sun May 05, 2019 11:13 am
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

Re: CDs in early retirement to enable Roth Conversions?

Given FiveK's analysis showing the presence of the 25% and 27% "shadow" brackets after you retire, here's something else to consider: For people with significant qualified dividends from a taxable account, sometimes it may be less expensive tax-wise to do the Roth conversions *before* you retire. *...
by NancyABQ
Sun May 05, 2019 8:15 am
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

Re: CDs in early retirement to enable Roth Conversions?

~$32K qualified income (dividends, *LTCG* from taxable and trust) (highlight/bold by me) Another quick thought: Where are the LTCG coming from? If they are coming from you choosing to sell to achieve your own purposes, that's fine. But if they are out of your control because they are capital gains ...
by NancyABQ
Sat May 04, 2019 9:52 pm
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

Re: CDs in early retirement to enable Roth Conversions?

Wow, thanks for taking the time to crunch my numbers! Even though I'm an engineer/scientist with various advanced degrees, for some reason those financial spreadsheets tend to make my brain freeze when I look at them. :confused With that background, you can do this! One would think so. It doesn't h...
by NancyABQ
Sat May 04, 2019 7:37 pm
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

Re: CDs in early retirement to enable Roth Conversions?

Wow, thanks for taking the time to crunch my numbers! Even though I'm an engineer/scientist with various advanced degrees, for some reason those financial spreadsheets tend to make my brain freeze when I look at them. :confused Given the $12K and $32K numbers, there won't be any 12% tax on your trad...
by NancyABQ
Sat May 04, 2019 3:45 pm
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3599

CDs in early retirement to enable Roth Conversions?

I am going to be retiring sometime soonish -- I have transitioned to part time and all the numbers say I could do it, so I guess I am in One-More-Year territory. So it could happen at any time, but right now I am happy with my part-time work-from-home gig. I am currently 57, and I will receive a pen...
by NancyABQ
Tue Apr 30, 2019 2:20 pm
Forum: Personal Consumer Issues
Topic: Is the United Airlines Online Reservation System Confusing, or Is It Me?
Replies: 17
Views: 1526

Re: Is the United Airlines Online Reservation System Confusing, or Is It Me?

Don't call United to make the reservation by phone. They charge a fee (either $25 or $50) if you do that. That may be, but the OP is having difficulty booking what he wants, so perhaps that fee is worth it instead of spending endless hours trying to make the website do something it isn’t designed t...
by NancyABQ
Tue Apr 30, 2019 10:51 am
Forum: Personal Investments
Topic: Getting out of Schwab Intelligent Portfolio
Replies: 11
Views: 2308

Re: Getting out of Schwab Intelligent Portfolio

I think you should be able to just turn off the Intelligent Portfolio and leave the holdings at Schwab (for now). That shouldn't have any tax consequences and would prevent the situation from "getting worse". Make sure no dividends are being reinvested. Then go over what the portfolio looks like now...
by NancyABQ
Mon Apr 29, 2019 10:47 pm
Forum: Personal Consumer Issues
Topic: Is the United Airlines Online Reservation System Confusing, or Is It Me?
Replies: 17
Views: 1526

Re: Is the United Airlines Online Reservation System Confusing, or Is It Me?

Can we avoid all the issues with this site by using a travel agent or calling United and make the reservation by phone? Why is airline travel so difficult now? If I can't figure this out (and I've been using the Internet since 1996), how do technology-adverse people and elderly people handle this c...
by NancyABQ
Wed Apr 17, 2019 9:00 pm
Forum: Personal Investments
Topic: Capital Gains and Long Term Stock Holdings
Replies: 12
Views: 812

Re: Capital Gains and Long Term Stock Holdings

Meanwhile, turn off dividend reinvestment, while you get this sorted.
by NancyABQ
Sun Apr 14, 2019 3:23 pm
Forum: Personal Investments
Topic: Tax Math on 3.6MM portfolio
Replies: 21
Views: 3284

Re: Tax Math on 3.6MM portfolio

- Keep it as simple as possible - Maximize tax efficiency - Maintain roughly 50/50 asset allocation - Withdraw roughly $85K per year from her collective accounts including a $25k RMD from IRA She currently has $800k in her IRAs and and $2.8MM in taxable. I plan on the current asset allocation IRA -...
by NancyABQ
Tue Apr 09, 2019 12:26 pm
Forum: Personal Investments
Topic: [Ready to leave Wealthfront]
Replies: 12
Views: 2598

Re: [Ready to leave Wealthfront]

So let's assume that each of the 500 individual stocks has some losers, some with short-term capital gains, and some with long-term capital gains. If I want to liquidate the losers and long-term capital gains right away, it could take 500 trades right there. Then if I wait a year to liquidate the o...