Search found 3037 matches

by FIREchief
Mon Jun 24, 2019 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: HSA account (Tips for newbie)
Replies: 15
Views: 884

Re: HSA account (Tips for newbie)

Hi All, This year my wife's employer moved her medical coverage to a high detectable plan using an HSA account. The HSA was funded with an initial amount from her employer. Her first medical expense exceeds this amount so what is our best bet? Should we transfer money from our standard checking acc...
by FIREchief
Mon Jun 24, 2019 2:11 pm
Forum: Investing - Theory, News & General
Topic: When the Conventional Wisdom about Taxes in Retirement is Wrong
Replies: 23
Views: 2565

Re: When the Conventional Wisdom about Taxes in Retirement is Wrong

Rethinking this. If the situation above holds, then why not simply stop contributing to 401k traditional and change it to 401k Roth? If you're still working and contributing to your retirement account, then does it make sense to pay taxes to reduce it, while simultaneously adding more to be convert...
by FIREchief
Mon Jun 24, 2019 2:07 pm
Forum: Investing - Theory, News & General
Topic: When the Conventional Wisdom about Taxes in Retirement is Wrong
Replies: 23
Views: 2565

Re: When the Conventional Wisdom about Taxes in Retirement is Wrong

wolf359 wrote:
Mon Jun 24, 2019 11:29 am
Social Security payments are scheduled to drop around 2030
This isn't really true.
by FIREchief
Mon Jun 24, 2019 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Deathbed Roth Conversion - One Timing Question
Replies: 11
Views: 1099

Re: Deathbed Roth Conversion - One Timing Question

I would ask this exact question of the brokerage. If BIL has DPOA in effect, he should even be able to discuss account specifics. Thanks. I certainly plan to do that but would like to get a definitive answer before that conversation occurs. Cheers I doubt there will be a definitive answer forthcomi...
by FIREchief
Mon Jun 24, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: HSA account (Tips for newbie)
Replies: 15
Views: 884

Re: HSA account (Tips for newbie)

Hi All, This year my wife's employer moved her medical coverage to a high detectable plan using an HSA account. The HSA was funded with an initial amount from her employer. Her first medical expense exceeds this amount so what is our best bet? Should we transfer money from our standard checking acc...
by FIREchief
Mon Jun 24, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Deathbed Roth Conversion - One Timing Question
Replies: 11
Views: 1099

Re: Deathbed Roth Conversion - One Timing Question

Brother-in-laws (BIL) brother appears to have very little time left unfortunately. BIL has durable power of attorney that includes incapacity. We have all estate docs in place, PODs in place on all accounts and just executed a Lady Bird Deed for homestead to bypass probate along with everything els...
by FIREchief
Sun Jun 23, 2019 1:07 am
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

Also I find that in the last minute of the market some folks get frustrated that their limit orders haven't executed, so they drop their pants . The dropping of pants is a way that the bid/ask spread is narrowed. :D Is that an actual insider term?? I don't think we got an answer to this important q...
by FIREchief
Sun Jun 23, 2019 1:06 am
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

A marketable limit order is the way to go. You get the market price at that time and avoid any glitches that have caused short term price fluctuation. It's easy. It's reliable. No one should feel like that they have a sub-optimal trading strategy if they are not actively trying to avoid "paying the...
by FIREchief
Sat Jun 22, 2019 9:54 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

Also I find that in the last minute of the market some folks get frustrated that their limit orders haven't executed, so they drop their pants . The dropping of pants is a way that the bid/ask spread is narrowed. :D Is that an actual insider term?? I don't think we got an answer to this important q...
by FIREchief
Sat Jun 22, 2019 9:53 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

A marketable limit order is the way to go. You get the market price at that time and avoid any glitches that have caused short term price fluctuation. It's easy. It's reliable. No one should feel like that they have a sub-optimal trading strategy if they are not actively trying to avoid "paying the...
by FIREchief
Sat Jun 22, 2019 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a trust for child's annual gifted amount
Replies: 37
Views: 2478

Re: Opening a trust for child's annual gifted amount

Your question is there an inexpensive way to do this in trust? Not really. There will be administration costs and annual tax filings required. Same basic cost whether there is $30,000 or $3 million in the trust. Not necessarily. If the assets are simple, and there is no paid trustee, then the ongoi...
by FIREchief
Sat Jun 22, 2019 1:53 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

livesoft wrote:
Sat Jun 22, 2019 1:50 pm
Also I find that in the last minute of the market some folks get frustrated that their limit orders haven't executed, so they drop their pants. The dropping of pants is a way that the bid/ask spread is narrowed.
:D Is that an actual insider term??
by FIREchief
Sat Jun 22, 2019 1:49 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

I looking forward to clarifications and other explanations. The quoted bid and quoted ask are not always for real. That's because another party such as a HFTrader or one's broker can step in and give a better price. Plus what one "sees" in their trading platform for quotes is quotes to the nearest ...
by FIREchief
Sat Jun 22, 2019 1:44 pm
Forum: Personal Investments
Topic: Rebalancing to Oblivion
Replies: 39
Views: 2779

Re: Rebalancing to Oblivion

Why not just cap the stocks at 50%? (i.e. rebalance when stocks exceed 50%, but just take a walk when the market plunges)
by FIREchief
Sat Jun 22, 2019 1:23 pm
Forum: Personal Investments
Topic: Seeking practical help understanding “bid-ask spread” for ETFs
Replies: 52
Views: 2192

Re: Seeking practical help understanding “bid-ask spread” for ETFs

This is an excellent question(s), and one I've tried to understand better. I think the "who pays" is somewhat philosophical. If a buyer places a market order, they're paying the lowest priced seller, and their offer is higher than other current buyers by the amount of the "bid-ask" spread. If a sell...
by FIREchief
Sat Jun 22, 2019 1:04 pm
Forum: Personal Investments
Topic: Inherited stocks/mutual funds and bump in cost basis.
Replies: 9
Views: 981

Re: Inherited stocks/mutual funds and bump in cost basis.

I hope the attorneys were tax attorneys since the step-up is a tax question. I believe that one of our expert estate attorneys has suggested (at least indirectly) that a "good" estate attorney is likely more qualified with tax issues occurring at or around death than anybody else. If an estate atto...
by FIREchief
Sat Jun 22, 2019 12:59 pm
Forum: Personal Investments
Topic: Inherited stocks/mutual funds and bump in cost basis.
Replies: 9
Views: 981

Re: Inherited stocks/mutual funds and bump in cost basis.

I investigated this thoroughly for my community property state , receiving inputs from two experienced attorneys. Assets held by a married couple in a jointly owned account will receive full step up basis when either spouse dies. Although some brokerages do offer a community property account regist...
by FIREchief
Fri Jun 21, 2019 10:17 pm
Forum: Personal Investments
Topic: Inherited stocks/mutual funds and bump in cost basis.
Replies: 9
Views: 981

Re: Inherited stocks/mutual funds and bump in cost basis.

anything JTWROS with the deceased either gets half the account value stepped-up (most cases) or full step-up (if they live in a community property state AND the joint owner is the spouse) (seems hard to believe; worth further study if you're in such a state) Not a lawyer, but I believe that technic...
by FIREchief
Fri Jun 21, 2019 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

What you (as the grantor) can also do is execute the POA document for someone to act for you, but do not give the document to that person right away. Would you allow the nominee to at least read the POA document prior to them agreeing to serve? Assuming incapacitation (which I'm guessing is the mos...
by FIREchief
Fri Jun 21, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

dm200 wrote:
Fri Jun 21, 2019 10:04 am
I suggest getting all the details, look at the POA and, perhaps, challenge this with the financial institution.
I'm guessing that the rest of the family has no access to the DPOA document.
by FIREchief
Fri Jun 21, 2019 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Access to joint accounts at spouse’s death
Replies: 31
Views: 2448

Re: Access to joint accounts at spouse’s death

Access to joint accounts at spouse’s death? In some states, a safety deposit box is sealed as soon as bank receives notice of an owner's death. Joint owners and other signators are locked out. When my father died quite suddenly, a friendly bank CSR called my mother and told her to go immediately to...
by FIREchief
Thu Jun 20, 2019 2:53 pm
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 9648

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

i.e. what is the outlook for international equities for the near term? They're going to go up. Unless they go down. Thank you for this helpful and insightful response. Sorry if that sounded sarcastic. The fact is, nobody knows, and those who suggest that they do know are just fooling themselves (or...
by FIREchief
Thu Jun 20, 2019 2:40 pm
Forum: Investing - Theory, News & General
Topic: are TIPS expensive? or are they cheap?
Replies: 119
Views: 9345

Re: are TIPS expensive? or are they cheap?

The best 5 year new issue non-callable CD on fidelity seems to be about 2.3%. That is 60 bps better than the 5 year treasury at 1.72% so it may be worth a look. Fidelity's premium money market class (FZDXX) currently has a 7 day yield of 2.25%, which might be worth giving up 5 bps for full liquidit...
by FIREchief
Thu Jun 20, 2019 2:34 pm
Forum: Investing - Theory, News & General
Topic: are TIPS expensive? or are they cheap?
Replies: 119
Views: 9345

Re: are TIPS expensive? or are they cheap?

The problem I have with Grok's thirty year inflation protection portfolio is not only the low real yield for those 30 years is that you may also have need to have nominals to rebalance in a stock market crash. Where are you going to get the money for that. From the corporate part of your FI portfol...
by FIREchief
Thu Jun 20, 2019 2:24 pm
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 9648

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

Munir wrote:
Thu Jun 20, 2019 1:32 pm
i.e. what is the outlook for international equities for the near term?
They're going to go up.

Unless they go down.
by FIREchief
Thu Jun 20, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Which TIP would you buy?
Replies: 8
Views: 671

Re: Which TIP would you buy?

If you thought interest rates will go down in the future and remain low for a few years and inflation will increase over the next few years which TIP bond (not fund) would you buy now? A specific bond or cusip would be great. Are you referring to real interest rates dropping or nominal interest rat...
by FIREchief
Thu Jun 20, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Donor Advised Fund for charitable giving
Replies: 13
Views: 575

Re: Donor Advised Fund for charitable giving

Be sure to check the list at Fidelity or wherever to make sure you're charities are listed. I am about to fund ours for 2019 as we did in 2017. Good luck! I don't believe it matters if the 501c3 you want to make a grant to is not currently listed. Any competent DAF will confirm that they qualify as...
by FIREchief
Wed Jun 19, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

This thread is why I think it's worth it to pay for a revocable living trust. In both cases (terminal cancer) I was named as co-trustee (not successor) on the trust...used their POA to move all assets into the trust, thankfully no problems there. Well, the lawyer's office retitled the real estate, ...
by FIREchief
Wed Jun 19, 2019 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

The type of POA you’re describing is actually call a “springing” POA. It springs -or more likely creaks- into action when certain criteria for declaring the grantor incompetent are met. Also, many posters suggest that a proper springing DPOA, prepared by an attorney, won't be honored so it is advis...
by FIREchief
Wed Jun 19, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

This thread is why I think it's worth it to pay for a revocable living trust. In both cases (terminal cancer) I was named as co-trustee (not successor) on the trust...used their POA to move all assets into the trust, thankfully no problems there. Well, the lawyer's office retitled the real estate, ...
by FIREchief
Wed Jun 19, 2019 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

1. IMO, not a good idea that just one granted POA - what happens is she is unavailable. Get added POAs ASAP I was of the understanding that there could only be a single acting POA under most/all state laws. Certainly there can be a successor named in the event that the primary is unable or unwillin...
by FIREchief
Wed Jun 19, 2019 2:13 am
Forum: Personal Finance (Not Investing)
Topic: Career advice: How to phrase job-change for family reasons?
Replies: 13
Views: 1523

Re: Career advice: How to phrase job-change for family reasons?

ZeSrowAway wrote:
Wed Jun 19, 2019 2:03 am
How do people approach family-related relocation in a balanced way that doesn't negatively affect your professionalism and dedication to your job?
Hiring Managers are actually real people too!! A sincere desire to mix family priorities with career priorities might not be perceived as a negative.
by FIREchief
Wed Jun 19, 2019 2:09 am
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 9648

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

I believe that the U.S. has superior laws, work ethic, regulatory oversight and other factors that have resulted in long term outperformance relative to total international. I don't believe that any of this will change (to the negative) anytime soon. I thus remain 100% invested in US equities. That...
by FIREchief
Tue Jun 18, 2019 6:34 pm
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 9648

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

I believe that the U.S. has superior laws, work ethic, regulatory oversight and other factors that have resulted in long term outperformance relative to total international. Yeah, just look at all the brilliant regulatory oversight that almost caused the collapse of the entire global financial syst...
by FIREchief
Tue Jun 18, 2019 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

1. IMO, not a good idea that just one granted POA - what happens is she is unavailable. Get added POAs ASAP I was of the understanding that there could only be a single acting POA under most/all state laws. Certainly there can be a successor named in the event that the primary is unable or unwillin...
by FIREchief
Tue Jun 18, 2019 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3451

Re: How to ensure POA is acting in best interest of grantor?

I once read that giving a person POA is the same as giving them the legal right to steal from you.
by FIREchief
Tue Jun 18, 2019 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Bequeathing an HSA
Replies: 7
Views: 733

Re: Bequeathing an HSA

Not wanting perfect to be the enemy of good, I guess I’ll just spend it as we incur medical expenses. Paying for medical with pretax dollars is good enough. I think you're on to something here. I was once of the mindset that I should maximize the stretched tax free earnings of an HSA, but ultimatel...
by FIREchief
Tue Jun 18, 2019 1:59 am
Forum: Investing - Theory, News & General
Topic: Should I abandon the Total International Stock Index Fund for greener pastures?
Replies: 110
Views: 9648

Re: Should I abandon the Total International Stock Index Fund for greener pastures?

I believe that the U.S. has superior laws, work ethic, regulatory oversight and other factors that have resulted in long term outperformance relative to total international. I don't believe that any of this will change (to the negative) anytime soon. I thus remain 100% invested in US equities. That'...
by FIREchief
Tue Jun 18, 2019 1:49 am
Forum: Personal Finance (Not Investing)
Topic: Aftertax conversion to Roth and tax implications for withdrawals
Replies: 6
Views: 651

Re: Aftertax conversion to Roth and tax implications for withdrawals

I don't have any answers for you, but it sounds like a fantastic 401k plan! :beer
by FIREchief
Tue Jun 18, 2019 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 522
Views: 42879

Re: Why are you NOT buying rental properties?

Buy a good property at below market price in an up and coming neighborhood and you don’t have to worry about a measly 10-20% rent. I know absolutely nothing about owning and managing rentals (and I can prove it!) That said, regardless of commodity, isn't it generally impossible to (legally) buy any...
by FIREchief
Tue Jun 18, 2019 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Selling Home - When to Reduce Price?
Replies: 27
Views: 2044

Re: Selling Home - When to Reduce Price?

I've sold exactly two houses with a Realtor involved. One I did wrong: met with a single "highly recommended" Realtor. Went with their recommended price (which I thought was high, and the market confirmed was 10% too high). Close to a month without a single buyer visit. Awful experience. One I did r...
by FIREchief
Mon Jun 17, 2019 10:49 pm
Forum: Investing - Theory, News & General
Topic: Retaining least appreciated shares for ACA?
Replies: 8
Views: 625

Re: Retaining least appreciated shares for ACA?

He could also tax gain harvest the last year that he is under the employer provided health plan so reset the cost basis to the market price on some of the shares. Thanks. That makes sense. It sounds like there are a number of strategies (Roth withdrawals, prior year tax gain harvesting, "saving" of...
by FIREchief
Mon Jun 17, 2019 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 522
Views: 42879

Re: Why are you NOT buying rental properties?

Buy a good property at below market price in an up and coming neighborhood and you don’t have to worry about a measly 10-20% rent. I know absolutely nothing about owning and managing rentals (and I can prove it!) That said, regardless of commodity, isn't it generally impossible to (legally) buy any...
by FIREchief
Mon Jun 17, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Bequeathing an HSA
Replies: 7
Views: 733

Re: Bequeathing an HSA

I think the tax treatment on inherited HSA is not too bad for our heirs, and crams more benefit per dollar than a taxable account inheritance. I think it's the other way around. That HSA balance will be 100% taxable in the year inherited. A taxable account balance will get a stepped up basis and wi...
by FIREchief
Mon Jun 17, 2019 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Bequeathing an HSA
Replies: 7
Views: 733

Re: Bequeathing an HSA

Yep. This is the rare scenario where an HSA dollar may be worse than a tIRA dollar. If a person's situation is such that they are certain that one or the other will pass to heirs, then the tIRA dollar is more inheritance friendly. Also, it doesn't need to be an either/or choice (one could leave a po...
by FIREchief
Mon Jun 17, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

I don't think there HAS to be enough to cover everything that may be needed to wrap up an estate. Funeral homes will give 30 days to pay - by that time life insurance proceeds should be in hand, and once the executor/representative has been established then all assets are available. I think a lot o...
by FIREchief
Mon Jun 17, 2019 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

Any suggestions for how much cash to have in a dedicated joint account for final expenses? This is assuming no mortgage, all bills current, x months of utilities and homeowners insurance, prepaid “final expenses” (uh, I hate the euphemisms of the funeral industry), current on any healthcare expense...
by FIREchief
Mon Jun 17, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Doing Your Own Taxes
Replies: 36
Views: 3149

Re: Doing Your Own Taxes

I have always been doing my tax return by hand, even with SE, HSA, multiple 1099s, Child care credits, rollover 401Ks, etc etc. Never once I used tax software or pay anybody. Same with me. I’ve done my taxes by hand for 40 years. Some people would call me a Luddite for not adopting technology. But ...
by FIREchief
Sun Jun 16, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

If you really want to make things easier on your daughters, clean out your basement!!! Dealing with the finances was easy compared to cleaning out my parents house. Its been about 10 years since they passed and my wife and I are consciously getting rid of stuff so we don't stick it on the kids. Ame...
by FIREchief
Sun Jun 16, 2019 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 57
Views: 3729

Re: Short-term money needs for Executor of Estate

I am co executor and power of attorney for my mom. I will not file will with court. I will not do probate. I'm confused. Regardless of anything else, I believe that state laws absolutely require anybody who is in possession of a person's will to file it with the courts within a specified time perio...