Search found 971 matches

by diy60
Wed Mar 27, 2024 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Take Social Security Now?
Replies: 47
Views: 2334

Re: Take Social Security Now?

Watty wrote: Wed Mar 27, 2024 1:59 pm Keep in mind that if you expect SS to provide 40% of your retirement income and there is a 20% reduction in SS then that is a 8% reduction in your retirement budget.

There are lots of other future unknowns which could have a bigger impact.
You could look at it like that. I look at it as a possibility my portfolio may need to carry more of the load. Given how ultra conservative BH'rs seem to be, this should not be a problem for most on this board. I personally don't lose sleep over possible SS reductions, too many other things in life are more likely to derail any retirement planning.
by diy60
Sat Mar 23, 2024 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: MediGap Underwriting, Moving Up to Plan G: What Do the Insur Cos Evaluate?
Replies: 16
Views: 1332

Re: MediGap Underwriting, Moving Up to Plan G: What Do the Insur Cos Evaluate?

twh wrote: Sat Mar 23, 2024 11:41 am That's not entirely true. Almost all of the underwriting questionnaires want to know if you have new or changed medications, of any type, within the least two years and that become disqualifying. So, if your doctor switched you from from one beta blocker to another, for example, you would be excluded or rated poorly. Then, many ask more specific questions about diabetes, kidney disease and others which quickly become disqualifying.
I have downloaded about 5 applications for Medigap policies and also participated in a phone application at UHC. Nowhere did they ask (nor during the phone application) if you had a changed medication. IMHO that would be absurd.
by diy60
Sat Mar 23, 2024 7:11 am
Forum: Personal Finance (Not Investing)
Topic: MediGap Underwriting, Moving Up to Plan G: What Do the Insur Cos Evaluate?
Replies: 16
Views: 1332

Re: MediGap Underwriting, Moving Up to Plan G: What Do the Insur Cos Evaluate?

But say you are a generally healthy individual, non-smoker, only minor health issues. Maybe on a cholesterol reducing statin, etc. What exactly do they evaluate? What do they look for? What is the threshold(s) for risks that get you a rejection or a "higher than normal rate"? Anybody been through this? Know about this?"[/i][/b] OP, I am currently evaluating changing my Medigap provider because I'm in a dreaded "dead pool". I will need to go thru underwriting. I went thru the application process, up to just short of submitting the app. If you Google for Medigap Applications (such as Aetna, UHC, and a few others) you will see the entire application. There are 12 or 13 health questions that will result in denial if yo...
by diy60
Thu Mar 21, 2024 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5022

Re: Medigappers: which plan do you have and why

tj wrote: Thu Mar 21, 2024 8:24 am Of course, those states have higher premiums for everyone.
Yep. We often see folks stating they get to change their selection every year, but they always fail to mention they are paying 2X to 3X for that privilege over what others pay. Over the span of their remaining lifetime it is probably a wash.
by diy60
Wed Mar 20, 2024 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting interest income less than $10
Replies: 11
Views: 708

Re: Tax reporting interest income less than $10

28fe6 wrote: Wed Mar 20, 2024 1:55 pm My BOA statements do NOT show any YTD or year-end amounts. I find it hard to believe people really look through 12 months of statements to find all interest deposits and manually add them up...out of what could be thousands of transactions. Is there a better way?
My interest payment shows up as 2 lines on each monthly statement; monthly, and cumulative. If I didn't have that, I would simply make up some number based on annual interest rate times some best guess average balance. I certainly wouldn't give it more than about 30 seconds of my time.
by diy60
Mon Mar 18, 2024 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Online Social Security application [question]
Replies: 19
Views: 1656

Re: Online Social Security application [question]

You have filed correctly. The check comes the following month and provides her with the full age 70 benefit. The SSA issues checks a month behind, so your benefits should start arriving the month after the month you turned 70. For example, if you were born July 17, you should ask that your benefits start in July and your first check will come in August. Cheers Based on the snip you provided, I'm reading the OP filed incorrectly. OP stated wife's birthday is in June, so she should have requested the benefits to start in June, with the first payment in July. However OP said they requested the benefits to begin in July, which would result in the first payment in August. Maybe I'm just not fully understanding the system that well, but I will b...
by diy60
Mon Mar 18, 2024 7:36 am
Forum: Personal Finance (Not Investing)
Topic: IRS rollout of Login.Gov: any updates?
Replies: 28
Views: 4310

Re: IRS rollout of Login.Gov: any updates?

jebmke wrote: Mon Mar 18, 2024 5:36 am I am able to log in to EFTPS with it. Have not tried my IRS account.
Did you have to do anything special to use your login gov on the EFTPS site? I have a login gov account from my Global Entry days and I wanted to give it a try elsewhere. Just wanted to double check before I do something stupid and lock up an account. Thanks.
by diy60
Sun Mar 17, 2024 9:34 pm
Forum: Personal Investments
Topic: Can I recover from backdoor Roth IRA conversion error?
Replies: 4
Views: 663

Re: Can I recover from backdoor Roth IRA conversion error?

sandan19 wrote: Sun Mar 17, 2024 6:50 pm: Am I right that by moving my Rollover IRA funds into a 401k and having a non-Roth IRA balance of $0 across all my non-Roth IRA accounts, I will no longer be in violation of the pro-rata rule? Thank you![/b]
OP, all Roth conversions are subject to pro-rata rule. It’s having a balance of $0 on 12/31 that works optimally to your advantage. Please review form 8606, lines 10 and 11.
by diy60
Sun Mar 17, 2024 1:18 pm
Forum: Personal Consumer Issues
Topic: How to fix sewer back up?
Replies: 28
Views: 1893

Re: How to fix sewer back up?

Find somebody to run a camera all the way to the City main. Could be any number of things, but tree roots come to mind. We have tree roots so bad on our street the City has put the main on a 3 year program for foaming. Our neighbor woke up to 3 foot of sewage in their basement, lucky for us we are on higher ground.

Also, forget suing, seems to be a std. response among BH'rs. Good luck.
by diy60
Sun Mar 17, 2024 10:48 am
Forum: Personal Investments
Topic: Back door Roth questions
Replies: 22
Views: 1448

Re: Back door Roth questions

RetiredAL wrote: Sun Mar 17, 2024 9:46 am Some say just convert this residual as a second conversion, but some places won't convert amount less than a dollar.
Your correct for online options, but calling might be an option. I closed an old Trad IRA account at Fidelity and they converted the $0.03 for me.
by diy60
Sun Mar 17, 2024 10:23 am
Forum: Personal Consumer Issues
Topic: Surprise! Wellcare part D free drugs. And I paid DiRx. Refund?
Replies: 18
Views: 1736

Re: Surprise! Wellcare part D free drugs. And I paid DiRx. Refund?

ekid wrote: Thu Mar 14, 2024 11:24 am I thought my simple drugs (tier 1 ?) (simvastatin, lisinopril) would be costly at any local pharm even thru Wellcare.
But apparently NOT- they were without charge.

So now am I out $180 or should I be able to cancel DiRx and get refund?
Spouse uses Wellcare and maintenance drugs like statins and others are $0, been like this for a few years now. Maybe you can get a refund.
by diy60
Sat Mar 16, 2024 1:52 pm
Forum: Personal Investments
Topic: Undoing non-deductible IRA
Replies: 17
Views: 1147

Re: Undoing non-deductible IRA

PNWHiker wrote: Sat Mar 16, 2024 10:55 am DW’s total Trad IRA balance is ~$136k, so the $55k basis is a little over 40%.

I’m still working for another 3-4 years and in a high tax bracket, so for now we’ll just let them sit. We’ll do the Roth conversions after I retire.
That is what I did. Both spouse and I had some basis in each of our Trad IRAs. After we retired we converted both of our Trad IRAs to zero over a period of 5 to 7 years. Our remaining tax deferred is in my 401K. Develop a multi-year plan and be patient, it'll work out.
by diy60
Sat Mar 16, 2024 10:03 am
Forum: Personal Finance (Not Investing)
Topic: “Bellys” on sewer scope for new house
Replies: 41
Views: 2549

Re: “Bellys” on sewer scope for new house

OP, negotiate a concession on the price, but don't be surprised if they tell you no. Regarding an AC unit, my 45 year old unit is still running strong, though not efficient by any stretch. Bellies in the sewer line are extremely common, it would depend on the severity if it needs to be addressed. If I was the seller I might offer an overall reduction of a couple k, but other than that I would move on to the next prospective buyer.
by diy60
Fri Mar 15, 2024 3:36 pm
Forum: Investing - Theory, News & General
Topic: Bonuses from Brokerages tax implications
Replies: 19
Views: 1247

Re: Bonuses from Brokerages tax implications

Hi BMAC thanks for the response... I received a bonus for moving my Roth from Vanguard to Schwab last year. I received no tax documents. I also received a bonus for moving our brokerage account. That showed up as taxable interest on our consolidated statement. Just to be clear....you received the bonus IN the Roth account???? I mean this sounds awesome....I'm just trying to wrap my head around it and given all the IRS rules around retirement accounts I just want to make sure I don't end up fined or something. Can any CPA's explain this? Wait until you see how much I put in my Roth from my Schwab Amex cash back. hmm, you got me wondering if my Fidelity Visa cashback can be directed to Roth. Currently I have it directed to my taxable account...
by diy60
Fri Mar 15, 2024 3:26 pm
Forum: Investing - Theory, News & General
Topic: Bonuses from Brokerages tax implications
Replies: 19
Views: 1247

Re: Bonuses from Brokerages tax implications

OP, there are hundreds of posts on this forum answering your questions. As others have mentioned, the bonuses are treated as interest. So for Trad IRAs and Roth IRAs that's a nice bonus since you don't need to have any earned income (retired). For taxable accounts you will receive a 1099-INT. Good luck.
by diy60
Fri Mar 15, 2024 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Travel Medical Insurance for Europe Trip
Replies: 16
Views: 1467

Re: Travel Medical Insurance for Europe Trip

I've used both Tripinsurancestore and Squaremouth, but prefer the former because they boil down all of the different plans to about 6 or so preferred plans. We don't typically prepay anything for our vacations, so we just purchase medical only and as primary, and limit to I think about $100K. Most US travelers tend to over purchase travel medical insurance because they base the limit on US costs and not the foreign costs. I think my last trip I paid about $120 for a couple, but don't remember for sure.
by diy60
Fri Mar 15, 2024 2:51 pm
Forum: Personal Consumer Issues
Topic: Identity theft or something to ignore?
Replies: 18
Views: 1212

Re: Identity theft or something to ignore?

Not really identity theft, email could have been incorrectly keyed in. Mark the email as spam and don't give it another thought.
by diy60
Wed Mar 13, 2024 8:35 am
Forum: Personal Consumer Issues
Topic: Microsoft Office 2021 for Home
Replies: 47
Views: 3509

Re: Microsoft Office 2021 for Home

I purchased MS Office Home & Student from Costco for somewhere around $75 on a Black Friday deal. Costco and Amazon routinely have this version on sale, though the sale prices seem to hover around $100.
by diy60
Tue Mar 12, 2024 7:22 pm
Forum: Investing - Theory, News & General
Topic: Any investors from the 1981 - 1984 time period here???
Replies: 36
Views: 4417

Re: Any investors from the 1981 - 1984 time period here???

Wow, what a trip down memory lane. I started in 1980, always looking forward to the Forbes Honor Roll, which I think came out every August. I Invested in Nicholas Fund, Janus Fund, Twentieth Century Growth, and Fidelity Magellan. You had to either call or write to these companies to get a prospectus and application, and your accounts were held directly by each fund company.

I also had a brokerage account. You had to trade in blocks of 100 shares, and a buy and sell would cost well over $200 for the round trip. DRIPs were the only cost effective way to reinvest dividends.
by diy60
Tue Mar 12, 2024 6:57 pm
Forum: Investing - Theory, News & General
Topic: ReadOnly Accounts and trading with Advisors
Replies: 11
Views: 1268

Re: Advisory Accounts

UpperNwGuy wrote: Tue Mar 12, 2024 5:46 pm
delamer wrote: Tue Mar 12, 2024 5:44 pm What is a read only platform?
I don't think there is such a thing.
Yes there is. I was in a read only platform for a short time, and I suspect most AUM advisor accounts are read only. It means the advisor is the only person able to make trades or withdrawals on your behalf. The only thing the account owner can do online is "read only" the accounts and related activity.
by diy60
Tue Mar 12, 2024 10:11 am
Forum: Personal Investments
Topic: Rollover IRA has commingled pre & post tax funds - What are my options?
Replies: 8
Views: 903

Re: Rollover IRA has commingled pre & post tax funds - What are my options?

OP, be aware this is Plan dependent. My Megacorp plan used the archaic term "Conduit IRA", required it to contain only rolled over funds (no contributions comingled), and the IRA had be "seasoned" at least 2 years. So as mentioned, check with your Plan and see if they accept incoming rollovers, and just as importantly check if they have any restrictions related to such rollover. Good luck.
by diy60
Sun Mar 10, 2024 1:05 pm
Forum: Personal Investments
Topic: Backdoor IRA with an existing Roth?
Replies: 12
Views: 1135

Re: Backdoor IRA with an existing Roth?

Hi, can I ask a quick question building on this? I think I got the answer in one of the responses above, but just to be sure. I'm also trying to set up a backdoor for the first time. 1. I've rolled all of my existing rollover and traditional IRAs into current employer plans to avoid tax implications. 2. I HAVE an existing Roth IRA. 3. I'm creating a new traditional IRA for the initial contribution. 4. When I roll "backdoor" into the Roth, can I roll into the EXISTING Roth, or does it have to be a new Roth account that would then live next to the existing Roth? Sorry if this is a dumb question, just don't want to get hit with some tax bill later. Thanks. As a side note, be sure to convert the entire amount in the Trad IRA. If you ...
by diy60
Sat Mar 09, 2024 8:40 am
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4593

Re: How could I have known dental claim would be denied?

OP, prior to the procedure did you ask the dentist for an estimate? My experience with dental insurance is it is mostly a joke. While working I got dental insurance thru work for like $1/month. Now that I'm retired I don't waste my time with this insurance. My current dentist is great and offers discounts to retirees, cash paying patients, and to those in need. He has always provided me with an estimate prior to any procedure.
by diy60
Sat Mar 09, 2024 7:27 am
Forum: Personal Finance (Not Investing)
Topic: [Impacted by] pro-rata rule when doing backdoor-Roth a few months ago, any possibility to reverse it?
Replies: 50
Views: 4306

Re: Fidelity misinformed me about pro-rata rule when doing backdoor-Roth a few months ago, any possibility to reverse it

OP, there are several statements in your post that leads me to believe you have some general misunderstandings. - Who initiated the rollover from your former 401K to Fidelity? No way Fidelity did this out of thin air. - Moving funds from a 401K to a Trad IRA blows up the backdoor Roth strategy. You know that, right? - You mentioned you will be taxed "again" on the contribution. You are never taxed again as long as you document the non-deductable (basis) on form 8606. - You mentioned your Trad IRA balance was $0 in Sept, 2023. Two issues, 1) Dec 31, each year is what matters, 2) All of your Trad IRAs and SEPs are treated as one. - No custodian would have any clue on the tax status of your contributions, that falls on the account ow...
by diy60
Fri Mar 08, 2024 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 10606

Re: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?

Spouse and I have been on OM with Supplemental about 5 years, probably about $70k in bad luck non-threatening procedures. Other than the OOP annual deductible we have not incurred any billing issues or costs, but we don't fret or meddle with the billing and it just works itself out.

Our location is great for OM as well as MA, but location location location is definitely a major factor.
by diy60
Fri Mar 08, 2024 10:43 am
Forum: Personal Investments
Topic: what to do with I Bonds
Replies: 24
Views: 3060

Re: what to do with I Bonds

OP, I had about twice as much in I-bonds and I sold everything. I'm retired and continue to strive towards simplicity. Also, IMHO, the tax deferred benefits of I-bonds are overblown, particularly for low $ amounts.
by diy60
Fri Mar 08, 2024 10:25 am
Forum: Investing - Theory, News & General
Topic: Minimum TIPS lot size at Fidelity?
Replies: 15
Views: 1818

Re: Minimum TIPS lot size at Fidelity?

OP, did you actually attempt to purchase 1 qty or is this info you saw on the depth of book window? I've found most times I am able to purchase small lots regardless what is indicated in the depth of book. Good luck.
by diy60
Fri Mar 08, 2024 10:20 am
Forum: Personal Investments
Topic: Roth Conversion better in market downturn?
Replies: 20
Views: 1899

Re: Roth Conversion better in market downturn?

shahhere wrote: Fri Mar 08, 2024 9:10 am Its still problematic to "Time" this movement as the funds dont generally sell the same business day so the 3%+ drop a few weeks back would have sold the next day when the market was up 2.5% and made nominal difference.
Shahhere
This is a non-issue. Convert via Transfer-in-kind (TIK) and there is no lag. I've probably done 50 of these conversions in last 7 to 8 years.
by diy60
Thu Mar 07, 2024 2:09 pm
Forum: Personal Consumer Issues
Topic: AARP/UHC Medigap policies
Replies: 40
Views: 3331

Re: AARP/UHC Medigap policies

As far as plans, at least now in my zip code AARP/UHC is providing 2 tiers of coverage in their G and N plans - one with perks and one without. AARP/UHC has been rolling out the 2nd lower tier (less perks) in multiple states. In my state AARP/UHC has 40% of the Medicare Supplement business. I was seriously considering MOO but their NJ base is small and I've read that they close plans and open the same plan under their subsidiary in the same location and their participants in the original plan suffer huge price increases. Avoid MOO at any cost. I'm in the middle of changing my supplement plan from MOO to most likely AARP/UHC, but I need to go thru underwriting. Most people in reasonable health can pass underwriting and I'm hoping it goes sm...
by diy60
Thu Mar 07, 2024 10:55 am
Forum: Personal Investments
Topic: Out of room in tax advantaged accounts. Now what?
Replies: 7
Views: 1695

Re: Out of room in tax advantaged accounts. Now what?

retiredjg wrote: Thu Mar 07, 2024 10:42 am I don't understand the "out of room" reference either if contributions are no longer being made. Can you be more specific about your issue?
I'm not the OP, but I interpreted their post to mean they have max'd out their deferred space with all bonds. The question is since they are considering Roth conversions, do they use taxable space for maintaining their asset allocation (in lieu of Roth space). I have the same issue and use both taxable and Roth to hold some of the bond portion. I don't know if that is optimum, but I think that is the OP's question. Maybe they'll chime back in.
by diy60
Wed Mar 06, 2024 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Using withholding on Roth conversion instead of estimated tax payment
Replies: 86
Views: 6042

Re: Using withholding on Roth conversion instead of estimated tax payment

Morik wrote: Wed Mar 06, 2024 1:18 pm I'm confused. The withholding is just for federal taxes, right?
When I used the methodology outlined in this thread I had State taxes withheld as well. Why do you think you can only have federal taxes withheld?
by diy60
Wed Mar 06, 2024 11:05 am
Forum: Personal Consumer Issues
Topic: AARP/UHC Medigap policies
Replies: 40
Views: 3331

Re: AARP/UHC Medigap policies

The 2023 and 2024 rates have been an exception. Higher. For 2023 (for G), I got a 9.7% increase. They increased their rates by 7% across the board in Michigan, then tacked on a territory surcharge for my section of the state (2 other territories got a reduction in that surcharge). For 2024, they just announced a 12.56% increase (both G and N) . They posted a high loss ratio last year. I don't have a data source for this, but while researching changing my Medigap plan I recall reading articles claiming high increases are common throughout the US due to post covid. Insurances companies are getting slammed by elective procedures and surgeries' that were put off 2020 - 2021. I know from personal experience I had 2 elective procedures that I my...
by diy60
Tue Mar 05, 2024 3:01 pm
Forum: Personal Consumer Issues
Topic: What to do if I am subpoenaed as a witness but I have overseas travel plans
Replies: 28
Views: 4154

Re: What to do if I am subpoenaed as a witness but I have overseas travel plans

Calico wrote: Tue Mar 05, 2024 1:55 pm I won't bother bumping this thread again unless it's bad news and they can't reschedule me or allow me to call in, etc.
It would be nice to hear how this turned out.
by diy60
Tue Mar 05, 2024 11:41 am
Forum: Personal Finance (Not Investing)
Topic: 10% Penalty on earning from excess Roth IRA contribution?
Replies: 28
Views: 1799

Re: 10% Penalty on earning from excess Roth IRA contribution?

EagertoLearnMore wrote: Tue Mar 05, 2024 11:00 am I am concerned that the return may not be accepted by the IRS when I try to e-file because of the 2 overrides. That is why I contacted HR Block regarding the software bug. I don't mind using the forms instead of the interview, but I want the overrides to be accepted.
Long time user of HRB here. My experience with HRB is any overrides will prohibited e-filing. I didn't read any of this thread, but I ended up "tricking" the software by answering the questions in a way that produced the desired result. Maybe delete the form in question and then manually add the form and fill in as required. Again, apologies, I didn't read any of this thread. Good luck.
by diy60
Sun Mar 03, 2024 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion during retirement question
Replies: 51
Views: 5848

Re: Roth conversion during retirement question

RCL wrote: Sat Mar 02, 2024 7:21 pm
anthonyphamy wrote: Sat Mar 02, 2024 5:29 pm
RCL wrote: Thu Feb 29, 2024 11:54 pm How can an ~120k 401k be an ~6k RMD?
Does it seem to high or low to you? That's what the RMD calculator resulted.
Seemed kind of high to me, but I suppose it matters what table you would use for your situation.
What divisor number did you use?

I think you are correct if age 80-81
I think the average for the first 15 years is something like 5%, so 6K seems reasonable. But then again, I just use pencil and paper so I'm good with close enough.
by diy60
Fri Mar 01, 2024 10:21 am
Forum: Personal Consumer Issues
Topic: Want to leave timeshare.
Replies: 111
Views: 12266

Re: Want to leave timeshare.

[I had to step in here and laugh at the above. First of all, no sane, knowledgeable timeshare buyer would ever pay, on the resale market, $15K for an Orlando timeshare property. Sorry, but I'm going to respectfully take issue with this statement. I know you didn't mean this but it implies any timeshare owners who enjoys or can justify their purchase are sane, therefore unsatisfied customers must be insane. My family member had mental health issues unbeknownst to much of the family. The timeshare purchases were just a tip of the iceberg that surfaced after their death. To be fair, I don't know if their timeshares were deeded (the most common back in the day) or leased (the so called Club timeshares). It is however common knowledge timeshare...
by diy60
Wed Feb 28, 2024 10:31 am
Forum: Personal Consumer Issues
Topic: Want to leave timeshare.
Replies: 111
Views: 12266

Re: Want to leave timeshare.

splitatlantic wrote: Wed Feb 28, 2024 8:13 am Thanks for your responses. I read through previous conversations about gifting it and gifting is not a logical solution. I will look at the Timeshare Users groups but am leaning towards paying the fee.
Noticed no one suggested just walking away. We are retired and don't think we'll ever need to use our credit score for anything but it would leave a gray cloud over our heads. So just pay and walk away without regrets.
Don't walk away, address the issue head on unless you want your heirs to spit on your grave. Pay the $1,500, it's a bargain based on what I've seen my family members endure. Good luck.
by diy60
Wed Feb 28, 2024 9:09 am
Forum: Personal Consumer Issues
Topic: Blocking callers on Iphone
Replies: 22
Views: 2194

Re: Blocking callers on Iphone

I am at my wits end. For the past several months I have been getting multiple calls daily wanting to send me new updated benefits provided by Medicare. I know these are scams and once you provide your medicare number its off to the races. My Iphone allows me to block future calls by the calling number. So far I must have blocked over 150 phone numbers but they still come up with new numbers to call me on. I am just curious, how can a scam artist come up with so many new phone numbers? Also, I am sure other Bogleheads have had this experience. Have you come up with a way to stop these irritating calls? If so let me know how. In the beginning I use to speak with these callers and I would let them know they are the rodents of the earth and us...
by diy60
Wed Feb 28, 2024 9:02 am
Forum: Personal Consumer Issues
Topic: Want to leave timeshare.
Replies: 111
Views: 12266

Re: Want to leave timeshare.

student wrote: Wed Feb 28, 2024 8:57 am Interesting. The following is a joke: Maybe need to leave the timeshares to these companies as their "inheritance."
Yeah, it's an incredible racket. I don't pretend to know all the details but based on my conversations with my family member the problem is the contract liability (usually yearly maintenance fees) falls back onto the estate if no one steps up to accept the inherited timeshare. From my understanding is was impossible for my family member to settle the estate until the liability was addressed. The one that took the longest was from one of big name timeshares (I won't name it).
by diy60
Wed Feb 28, 2024 8:54 am
Forum: Personal Consumer Issues
Topic: Want to leave timeshare.
Replies: 111
Views: 12266

Re: Want to leave timeshare.

Thanks for your responses. I read through previous conversations about gifting it and gifting is not a logical solution. I will look at the Timeshare Users groups but am leaning towards paying the fee. Noticed no one suggested just walking away. We are retired and don't think we'll ever need to use our credit score for anything but it would leave a gray cloud over our heads. So just pay and walk away without regrets. Walking away could be frustrating for whomever deals with your estate. This. A family member inherited 4 timeshares after a death in the family. Even though they declined the inheritance, it took well over 3 years and about $5K in legal fees to get out from under and close the estate. I don't know all of the details but I do k...
by diy60
Mon Feb 26, 2024 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth Issues
Replies: 24
Views: 2561

Re: Mega Backdoor Roth Issues

There is indeed a pro-rata rule at play, but it applies only within the after-tax subaccount. If you distribute only a portion of the balance, then the distribution is prorated between (after-tax) contributions and earnings. This should not be relevant to the OP. It would matter more to someone who previously had a large after-tax balance with significant earnings, who then wanted to do a mega backdoor. That could not be done without incurring tax on some part of the earnings. That's not quite accurate either as the law allows and most plans permit split distributions with the aftertax going to a roth ira and the pretax to traditional so no tax due. I'm not the person you responded to, but based on my experience ssel's comment is correct. ...
by diy60
Mon Feb 26, 2024 11:18 am
Forum: Personal Finance (Not Investing)
Topic: "Accrued Market Discount" using TurboTax
Replies: 7
Views: 1286

Re: "Accrued Market Discount" using TurboTax

Mitchell777 wrote: Mon Feb 26, 2024 9:31 am
I had the similar problem as you, and typically I key in the data since I can usually lump everything into "various-s" and "various-l". After playing around with the inputs, I decided to delete all of my entries and just download the data. Downloading fixed the issue, I haven't gone back to see what inputs or answers caused the problem, but you may want to try downloading the data from Vanguard and see if you get the correct answer. Good luck.
by diy60
Sun Feb 25, 2024 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Underpayment Penalties IRA to ROTH Conversion
Replies: 49
Views: 4373

Re: Underpayment Penalties IRA to ROTH Conversion

ryman554 wrote: Sun Feb 25, 2024 7:23 pm [Note the 1 per 365 days restriction and 60 day time limit. Tho it can be done same day on the phone. No messing with estimated taxes
1 per 365 days restriction does not apply to Roth conversions. The 60 day time limit is correct.
by diy60
Sat Feb 24, 2024 9:52 am
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2501

Re: SS benefits - apply online, BUT still must go in to office

livesoft wrote: Fri Feb 23, 2024 4:04 pm A trip to the office was successful, but required about 2 hours of waiting because the line around the block was already really long 30 minutes before the office opened. Interaction with staff was only 10 minutes to show photo ID and get it copied.
My local SS office is a disgrace, but you can go to any office. My last visit I traveled 30mins to a different SS office and it was like night and day.
by diy60
Sat Feb 24, 2024 9:45 am
Forum: Personal Investments
Topic: Heavy Value Tilt Away from Mag 7 stocks
Replies: 221
Views: 14189

Re: Heavy Value Tilt Away from Mag 7 stocks

smartinvestor2020 wrote: Sat Feb 24, 2024 9:19 am I have experienced that in order to be a boglehead, you must follow ALL the rules. If I disagree with even one rule, I am not a boglehead.
Not necessarily. I suspect many that read this forum, myself included, are actually BINOs, we're just not as vocal. Good luck.
by diy60
Sat Feb 24, 2024 7:49 am
Forum: Personal Investments
Topic: Heavy Value Tilt Away from Mag 7 stocks
Replies: 221
Views: 14189

Re: Heavy Value Tilt Away from Mag 7 stocks

smartinvestor2020 wrote: Fri Feb 23, 2024 9:02 pm
mbouck wrote: Fri Feb 23, 2024 9:01 pm "Fear and greed" - always comes back to that doesn't it?
Be fearful when others are greedy, and greedy when others are fearful.
I've been investing for 45+ years, that statement has been around longer than I can remember. But there is some truth to it, I made a counter move in 3/2023 and that position is up 500%. Difference for me is it's my play money. My simpleton belief is value funds do well when the market is declining or in recession but underperform otherwise. Why not just ride the champion horses in the race, why ride the laggards. I do heavily tilt 50% of my equities to lg. cap growth so I'm biased towards technology advancements and the US in general. Good luck with your market timing.
by diy60
Sat Feb 24, 2024 7:26 am
Forum: Personal Investments
Topic: Roth to traditional IRA recharacterization - is it not allowed?
Replies: 7
Views: 1274

Re: Roth to traditional IRA recharacterization - is it not allowed?

greenhornInvestor wrote: Fri Feb 23, 2024 10:27 pm Is a Roth contribution not the same as a Roth conversion?
No, they have different rules. To your question, recharacterizations of contributions are allowed, recharacterizations of conversions are not.
by diy60
Sat Feb 24, 2024 7:17 am
Forum: Personal Investments
Topic: Understanding Backdoor Roth IRA
Replies: 14
Views: 1649

Re: Understanding Backdoor Roth IRA

Thanks for this! I have not contributed for 2023 or 2024 to an IRA yet and I have no other IRAs other than my existing Roth, so my plan should be to: 1. Open a traditional IRA and contribute $6,500 for 2023 and $7,000 for 2024 and then immediately convert $13,500 to a Roth IRA? 2. And then make sure that I don't roll over anything into any type of IRA for the remainder of year 2024? Assuming this is the most efficient strategy, a couple other questions: 1. Assuming I never have another IRA other than the existing Roth IRA's and don't roll over anything into an IRA as you mentioned above, I should plan to open a traditional IRA and contribute after tax dollars and convert immediately to a Roth IRA every year right? 2. Can I merge Roth IRA's...
by diy60
Fri Feb 23, 2024 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Windshield Chip - Insurance claim or Self Fund
Replies: 61
Views: 5715

Re: Windshield Chip - Insurance claim or Self Fund

Broncag05 wrote: Wed Feb 21, 2024 6:48 pm You’re already hosed because you talked to your insurer about damage. When I did that after a truck window break in I found I had a claim (despite not filing one) when shopping for insurance with another carrier.
This is exactly what happened to me. My tree fell on the neighbor's shed. Not knowing any better, I called the insurance carrier and presto I had a $0 claim on my CLUE report. I discovered this only when shopping for insurance a few years later; most companies required me to be underwritten because I had 2 claims (1 claim plus the $0 claim) within 7 years. So I filed a request to CLUE to remove the $0 claim, which was actually taken care of very promptly (less than 30 days).
by diy60
Fri Feb 23, 2024 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Debit card vs. credit card at the ATM
Replies: 11
Views: 1342

Re: Debit card vs. credit card at the ATM

22twain wrote: Fri Feb 23, 2024 3:17 pm The two cards have the same PIN. In retrospect, that was a mistake, and I should change one of them. I didn't think about it because I don't ever remember using the PIN on a credit card.
I accidently tried to use my CC to withdraw cash instead of my ATM debit card while recently vacationing in EU. They are the exact same color and look nearly identical on first glance. The machine kept rejecting the card after entering my PIN. I went to another bank ATM and realized my mistake. By dumb luck, the PINs on my CC and ATM card are different. So I second the suggestion to have different PINs set up. I don't even know what my pin is on my CC.