Search found 1912 matches

by FIREchief
Wed May 16, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Communities w Great Weather and Low/No State Taxes?
Replies: 12
Views: 1767

Re: Retirement Communities w Great Weather and Low/No State Taxes?

hawkfan55 wrote:
Wed May 16, 2018 4:39 pm
Not too hot in summer or too cold in winter.
"Hot" is a vague term. I'll take (and did take) 110 degrees in the day (with low humidity and 85 at night) over 90/90 (temp/humiidity) 24/7. It's also nice to not have swarms of mosquitos trying to eat me alive.
by FIREchief
Wed May 16, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Do I tell Social Security I retired?
Replies: 32
Views: 3923

Re: Do I tell Social Security I retired?

I'll be eligible for benefits in January, still haven't decided to start then or not. Delay that as long as possible. The longer the delay, the more the pay. Not if the beneficiary(s) dies at a young age. If the beneficiary dies young, they aren't going to care much about their social security chec...
by FIREchief
Tue May 15, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Do I tell Social Security I retired?
Replies: 32
Views: 3923

Re: Do I tell Social Security I retired?

mickeyd wrote:
Tue May 15, 2018 3:48 pm
I'll be eligible for benefits in January, still haven't decided to start then or not.
Delay that as long as possible. The longer the delay, the more the pay.
Not if the beneficiary(s) dies at a young age.
by FIREchief
Mon May 14, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Can co-executor appoint an acting co-executor?
Replies: 7
Views: 571

Re: Can co-executor appoint an acting co-executor?

The Problem : The eldest (co-executor) son refuses to have any kind of dealings or contact with either of his two brothers and the other two brothers do not trust the eldest brother at all ... about anything! Why would settling the estate require any contact? Just let the lawyer send them the forms...
by FIREchief
Mon May 14, 2018 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security: two reasons not to wait
Replies: 68
Views: 11515

Re: When to claim Social Security: two reasons not to wait

(Full disclosure: I'm 64 and my wife is 63 this year. We are planning to both wait until 70 to start our benefits. We still have 6-7 years to change our minds. No matter what, we intend to be happy.) Joe: I would take a good look at the numbers if the lower-earning spouse takes SS at FRA (likely 66...
by FIREchief
Sun May 13, 2018 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

In researching conduit vs accumulation for special needs trusts (other thread) i stumbled upon this site that purports to have a “toggle switch” between conduit and accumulation. http://ultimateestateplanner.com/2016/11/01/ira-trusts-conduit-or-accumulation/ I think this is what we've been discussi...
by FIREchief
Sun May 13, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

2. There is some risk that the IRS may shut down or further complicate the accumulation trust route. I'm not sure what the IRS's motivation would be to eliminate accumulation trusts. The only real federal tax advantage that I am aware of is for keeping extremely large amounts of assets out of the p...
by FIREchief
Sun May 13, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 777

Re: Qualified Trusts and Special Needs

Piggy backing off the side conversation about qualified trusts in the estate planning attorney thread, would the income from traditional IRA distributions in a conduit qualified SNT trust potentially endanger SSI and Medicaid eligibility, since the RMD income is recognized by the beneficiary outsid...
by FIREchief
Sun May 13, 2018 4:30 am
Forum: Personal Finance (Not Investing)
Topic: Cancer - tips?
Replies: 37
Views: 6692

Re: Cancer - tips?

If you have a good friend who is a Christian, lean on them early and often. They will likely be able to pull in others to help you out in many ways.
by FIREchief
Sun May 13, 2018 12:59 am
Forum: Investing - Theory, News & General
Topic: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing
Replies: 33
Views: 1629

Re: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing

Working on re-allocating this weekend. Are there any guidelines to ratio of pre-tax, roth, and post-tax investing? The ideal amount of post-tax investing is zero, unless the post-tax investing is non-deductible (non-deductible IRA, after-tax 401(k)), or you need the money before retirement. A Roth ...
by FIREchief
Sun May 13, 2018 12:05 am
Forum: Personal Finance (Not Investing)
Topic: setting up trust- possible sibling drama may ensue
Replies: 34
Views: 2870

Re: setting up trust- possible sibling drama may ensue

i think its important that all siblings know exactly how much was "loaned" and unpaid, so i asked sibling to disclose it so we can all decide as a family how to move forward.
I think this is an impossible dream.
by FIREchief
Sat May 12, 2018 11:43 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

I had assumed "the company" in the OP was a law firm doing a seminar to get clients. What other entity would do that? Is there a business in prospecting for clients at a seminar, then referring the people to lawyers for a fee? Often brokerage firms, banks and financial planners put on that kind of ...
by FIREchief
Sat May 12, 2018 7:10 pm
Forum: Investing - Theory, News & General
Topic: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing
Replies: 33
Views: 1629

Re: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing

This type of question almost always leads back to the three great unknowns: a) a person doesn't know how long they are going to live (and, for those who are married, how long their spouse is going to live) b) we don't know what the market is going to do c) we don't know what Washington is going to d...
by FIREchief
Sat May 12, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4705

Re: Advice on building a timeless mens wardrobe?

Being FIRE'd and in a long term marriage makes this a whole lot easier. Just buy what's comfortable and have one cheap suit (in case somebody gets married or dies). :sharebeer
by FIREchief
Sat May 12, 2018 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

That is the interesting thing about all this. Presumably this is all a bunch of legal language , perhaps ingenious, perhaps not, that you don’t really know if it stands up until it is tested. Accumulation trusts have been tested numerous times, and the IRS has been consistent in accepting them unde...
by FIREchief
Sat May 12, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

I don't know how well that would work. I thought, could be wrong, that the distributions from the conduit trust had to go to a person, not to a trust. If they had to go to a person, I don't know you would then get the money into an irrevocable trust with that person as beneficiary. I have no idea, ...
by FIREchief
Sat May 12, 2018 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

If you get into setting up trusts for beneficiaries, and the estate has a material amount of qualified assets (401ks and IRAs ) then sub trusts may be set up to optimize beneficiary RMDs. Some attorneys favor “conduit” trusts and others prefer “accumulation” trusts. This is a key variable. If the e...
by FIREchief
Fri May 11, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3049

Re: How to find reputable person for Will/Trust?

If you get into setting up trusts for beneficiaries, and the estate has a material amount of qualified assets (401ks and IRAs ) then sub trusts may be set up to optimize beneficiary RMDs. Some attorneys favor “conduit” trusts and others prefer “accumulation” trusts. This is a key variable. If the e...
by FIREchief
Thu May 10, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

2) Ask that they keep an updated list of all their credit cards and other financial information (names/passwords) in a safety deposit box. when you have to start accessing all their personal records, this is a life saver. I would never include usernames/passwords. As long as you know where the acco...
by FIREchief
Thu May 10, 2018 1:53 am
Forum: Personal Finance (Not Investing)
Topic: Estimated tax question
Replies: 21
Views: 1617

Re: Estimated tax question

First year in retirement making estimated taxes.I am assuming I can pay the full years estimated tax in my first payment that was due in April? To each his own. I have never paid any kind of estimated tax. The "penalty" is just a modest interest rate applied to the amount owed. For the past 10 year...
by FIREchief
Wed May 09, 2018 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 288
Views: 21033

Re: free dinner investing seminar

Just had one of the finest Steaks I've ever had at a "retirement planning" seminar tonight. First, the important stuff: She was an 8 oz filet cooked to a perfect medium. Salad before, dessert afterwards. We took the carrot cake pieces in a doggy bag. Second, the entertainment: SS planning, fixed ind...
by FIREchief
Wed May 09, 2018 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

2) Ask that they keep an updated list of all their credit cards and other financial information (names/passwords) in a safety deposit box. when you have to start accessing all their personal records, this is a life saver. I would never include usernames/passwords. As long as you know where the acco...
by FIREchief
Wed May 09, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust question for kids
Replies: 23
Views: 1891

Re: Will/Trust question for kids

College tuition expenses covered in full along with monthly stipend for living expenses. Leftover money distributed to kids after college or technical degrees are obtained (mandatory to access money) at 25 and 30. What if one of your children instead completes an apprenticeship program and becomes ...
by FIREchief
Wed May 09, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

What other issues or questions should be concerned with? They are working with an eldercare attorney to update their will, so it has a higher probability of covering most contingencies than many. At a bare minimum, I would require the following before commiting to serve as executor: a) a copy of th...
by FIREchief
Tue May 08, 2018 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust question for kids
Replies: 23
Views: 1891

Re: Will/Trust question for kids

College tuition expenses covered in full along with monthly stipend for living expenses. Leftover money distributed to kids after college or technical degrees are obtained (mandatory to access money) at 25 and 30. What if one of your children instead completes an apprenticeship program and becomes ...
by FIREchief
Mon May 07, 2018 12:20 pm
Forum: Investing - Theory, News & General
Topic: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!
Replies: 92
Views: 8252

Re: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!

I am presuming we are not the only ones who have been religiously filing Form 8606. The time we started, we did not have the ROTH option or the backdoor ROTH option. You are not. I filed them for several years and, quite frankly, I just don't understand the concern here. It is one of the simplest I...
by FIREchief
Mon May 07, 2018 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: DAF with <$5k minimum contribution?
Replies: 17
Views: 1110

Re: DAF with <$5k minimum contribution?

I believe that the $5K min at Fidelity is just to open the account. After that, the balance can drop as low as you want it to (although you'll pay a minimum $100 annual administration fee). If you're not going to contribute at least $5K, there may be little justification for using a DAF.
by FIREchief
Tue May 01, 2018 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

Yeah, I'm being a jerk and my attitude will probably ensure I never become an executor on purpose. However, you have to understand that the people who asked you to be executor just asked you to dive into the middle of a family brawl. Why you and not one or more of the kids? Because they can't get a...
by FIREchief
Tue May 01, 2018 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

What other issues or questions should be concerned with? They are working with an eldercare attorney to update their will, so it has a higher probability of covering most contingencies than many. At a bare minimum, I would require the following before commiting to serve as executor: a) a copy of th...
by FIREchief
Tue May 01, 2018 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

Main question is "why me?" Lol. Horrible and thankless job. I'd decline. Best response so far!!! This is one of those things that people can learn about in the Bogleheads forum. I used the word "chore," but Larry has likely provided a much more accurate description (i.e. "horrible and thankless job...
by FIREchief
Tue May 01, 2018 12:51 am
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

What other issues or questions should be concerned with? They are working with an eldercare attorney to update their will, so it has a higher probability of covering most contingencies than many. At a bare minimum, I would require the following before commiting to serve as executor: a) a copy of th...
by FIREchief
Tue May 01, 2018 12:45 am
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3391

Re: Asked to be Executor - What questions to ask

What other issues or questions should be concerned with? They are working with an eldercare attorney to update their will, so it has a higher probability of covering most contingencies than many. The #1 question I would ask is whether they've set up EVERYTHING possible as BOD/TOD/POD. IMO, the Will...
by FIREchief
Sat Apr 28, 2018 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Final estate tax returns with balance due, but no money in estate
Replies: 10
Views: 1689

Re: Final estate tax returns with balance due, but no money in estate

If I were you, I would ask your mother to remove the beneficiary designations from one or more of the financial accounts, explaining that the executor will need funds to pay final bills and taxes. If she refuses, then I would politely tell here that you intend to refuse the appointment as executor. ...
by FIREchief
Sat Apr 21, 2018 9:23 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30821

Re: KF's simple rules to achieve FI

Isn't this pretty much the same as saying "save at least 50% of your annual income." Hardly practical advice for most folks. Reminds me of Steve Martin's steps to become a millionaire. "First, get a million dollars..." Actually, the skit was "you can be a millionaire, and never pay taxes." Yeah, I'...
by FIREchief
Sat Apr 21, 2018 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Decline an International Job Assignment
Replies: 23
Views: 1693

Re: Best Way to Decline an International Job Assignment

a) don't get a passport until you need one for personal pleasure b) have your Doctor recommend that you not travel for extended periods due to blood pressure, back problems, etc. c) do a really crappy job on any overseas assignment Chances are that if your doctor gives you a note restricting your ac...
by FIREchief
Sat Apr 21, 2018 3:08 am
Forum: Personal Finance (Not Investing)
Topic: How do I make sure IRS receives my manual tax return ?
Replies: 89
Views: 6023

Re: How do I make sure IRS receives my manual tax return ?

why can't you guys answer the question that was asked? would you keep extra $10 handed to you by the store cashier if he made a mistake? would IRS keep that extra $10,000 if taxpayer forgot about the estimated payments? Yes, IRS is scrupulously honest about things like this. If you have a credit of...
by FIREchief
Wed Apr 18, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Corporate Leveling
Replies: 22
Views: 2586

Re: Corporate Leveling

DaftInvestor's post is an excellent description of leveling. At the company I work for, there's a rubric that goes with each job ladder that describes the expectations for each level. It might go something like this: L1 - Needs help putting pants on in the morning L2 - Can put pants on by themselve...
by FIREchief
Wed Apr 18, 2018 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 106
Views: 11389

Re: Quitting job - what to do if getting walked to the door

IIRC, federal law governing COBRA allows the ex-employee 60 days to select it, with coverage retroactive to the termination date. That means you shouldn't have to worry about a gap in coverage (the IRS also allows up to two months gap in coverage during unemployment prior to imposing the ACA penalty...
by FIREchief
Wed Apr 18, 2018 1:22 am
Forum: Personal Finance (Not Investing)
Topic: Corporate Leveling
Replies: 22
Views: 2586

Re: Corporate Leveling

I would really like to hear more about what "corporate leveling' is! I'm FIRE'd from Megacorp, so it can't have any impact on me, but this sounds like the next great Megacorp "screw you" to the long time employee. Maybe I caught the leading edge of this as I was walking out the door??
by FIREchief
Sat Apr 14, 2018 7:25 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

A timely article for this discussion:

https://www.marketwatch.com/story/stock ... 2018-04-13
U.S. stock valuations are at multiyear highs — and multiyear lows
by FIREchief
Sat Apr 14, 2018 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Account benificiary vs will beneficiary....
Replies: 18
Views: 1323

Re: Account benificiary vs will beneficiary....

1. Are there any conditions that would have an account (401K, TIRA, and Roth IRA) beneficiary overridden by a will? State is Florida, if it matters. No. The beneficiary (if a natural person) would need to be living at the time of death of the owner. Do you still think this is the case if the IRA be...
by FIREchief
Sat Apr 14, 2018 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Account benificiary vs will beneficiary....
Replies: 18
Views: 1323

Re: Account benificiary vs will beneficiary....

1. Are there any conditions that would have an account (401K, TIRA, and Roth IRA) beneficiary overridden by a will? State is Florida, if it matters. No. The beneficiary (if a natural person) would need to be living at the time of death of the owner. Do you still think this is the case if the IRA be...
by FIREchief
Sat Apr 14, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make sure IRS receives my manual tax return ?
Replies: 89
Views: 6023

Re: How do I make sure IRS receives my manual tax return ?

"Timely mailing is timely filing". I've always recommended Certified Mail with return receipt if there are big bucks at stake. For small refunds or balance due, first class mail is fine. In more than 30 years I've had a half dozen cases where a stamped certified mail sticker and return receipt came...
by FIREchief
Sat Apr 14, 2018 12:28 am
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

Nobody knows nothing and the future simply can't be predicted. We do know, however, that US corporate profits are strong, earnings have been growing and the worldwide economy has been getting stronger. Add to that a more favorable tax climate and it is very reasonable to expect US corporations to d...
by FIREchief
Fri Apr 13, 2018 11:38 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

Nobody knows nothing and the future simply can't be predicted. We do know, however, that US corporate profits are strong, earnings have been growing and the worldwide economy has been getting stronger. Add to that a more favorable tax climate and it is very reasonable to expect US corporations to d...
by FIREchief
Fri Apr 13, 2018 8:42 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

It explaines more than a third of the variation in future 10-year real stock returns since 1881, which is impressive. How many independent 10 year data points is that? Do you consider this statistically significant? Thirteen data points that "explain" 30 percent of the outcomes is statistical nonse...
by FIREchief
Fri Apr 13, 2018 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make sure IRS receives my manual tax return ?
Replies: 89
Views: 6023

Re: How do I make sure IRS receives my manual tax return ?

8foot7 wrote:
Fri Apr 13, 2018 7:48 pm
Wow, there is an unusually high amount of misinformation in this thread.
It might help the misinformed if you could tell us what this misinformation was.
by FIREchief
Fri Apr 13, 2018 8:18 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

It explaines more than a third of the variation in future 10-year real stock returns since 1881, which is impressive. How many independent 10 year data points is that? Do you consider this statistically significant? Thirteen data points that "explain" 30 percent of the outcomes is statistical nonse...
by FIREchief
Fri Apr 13, 2018 8:12 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

... I'm a firm non-believer in CAPE 10, despite the historical backtesting of very few independent ten year data points that suggest otherwise. I simply put more confidence in this current corporate perfomance (price, projected earnings, etc.) than I do in mixing ten years of rear view mirror perfo...
by FIREchief
Fri Apr 13, 2018 8:10 pm
Forum: Investing - Theory, News & General
Topic: Why are expected returns so much lower than historical returns?
Replies: 153
Views: 8985

Re: Why are expected returns so much lower than historical returns?

... I'm a firm non-believer in CAPE 10, despite the historical backtesting of very few independent ten year data points that suggest otherwise. I simply put more confidence in this current corporate perfomance (price, projected earnings, etc.) than I do in mixing ten years of rear view mirror perfo...