Search found 93 matches

by Afull
Thu Dec 07, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Help with automating all month-to-month bills
Replies: 10
Views: 1220

Re: Help with automating all month-to-month bills

Pretty much what we do. Anything that takes a CC without cost gets charged and the CC is paid in full each month. MANDATORY...review all charges on the CC before it auto charges to be sure nothing is bogus.
by Afull
Mon Nov 06, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: sell of taxable account to pay off debts?
Replies: 16
Views: 1465

Re: sell of taxable account to pay off debts?

then I have two cars.. 58K left at 1.99 (1400 monthly payment) and 13K @ 2.6 (825 monthly payment) student loan 10K at 1.875. (119$) for these last three I was thinking, surely, I make more in the market in the taxable than I would by paying them down faster.. my current taxable account holds 173K ...
by Afull
Sat Sep 16, 2017 4:39 am
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust - EFT to Trustee's Bank Account
Replies: 11
Views: 816

Re: Irrevocable Trust - EFT to Trustee's Bank Account

To OP, I have same situation at Fidelity except I have a co Trustee and multiple beneficiaries. We are in the process of distributing to the beneficiaries and paying bills. In most cases I do this with Fidelity BillPay. One beneficiary has a Fidelity acct and I do a transfer directly to their acct. ...
by Afull
Thu Sep 14, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Use IRS Direct Pay for estimated tax payments on irregular Roth conversions?
Replies: 19
Views: 1673

Re: Use IRS Direct Pay for estimated tax payments on irregular Roth conversions?

To go into just a little more detail, I don't really mean for it to sound like it's all unplanned and haphazard: what I'm thinking is to use share-price averaging to move the money out of the traditional IRA, much like dollar-cost averaging in. If the market stays relatively stable, I plan to conve...
by Afull
Sun Sep 10, 2017 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Who actually buys lottery scratch offs?
Replies: 43
Views: 3790

Re: Who actually buys lottery scratch offs?

Rarely, but when I do the amount to win has to be somewhere near what the correct odds would be for what I spend. Even then I'd have to hope someone didn't use my copyrighted numbers so that I'd have to split the winnings...lol.

I don't budget for this small an amount of expense.
by Afull
Wed Sep 06, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Percentage Withdrawal
Replies: 23
Views: 2898

Re: Variable Percentage Withdrawal

What happens long term? ... Doesn't VPW increase the odds of a declining portfolio during retirement...which give more to spend for those who are OK watching the nest egg deplete. Or am I missing something? Part of the downside protection is that you're using multipliers against the portfolio size ...
by Afull
Wed Sep 06, 2017 12:08 am
Forum: Personal Finance (Not Investing)
Topic: Beneficiary Designation question?
Replies: 13
Views: 1607

Re: Beneficiary Designation question?

Would "my child per stirpes" cover this? It would go to offspring not spouse if you were not living. It might not be as desirable if child is under 18. OP here - I don't think it would be best for my son to inherit a $1M+ account until he is much older - maybe 30 or 35 yrs old. (as stated in our ow...
by Afull
Tue Sep 05, 2017 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Deductibility of LTC premiums
Replies: 7
Views: 1099

Re: Deductibility of LTC premiums

The insurance company should be able to tell you if the policy is qualified. Probably the best place to get that answered.
by Afull
Tue Sep 05, 2017 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust Question
Replies: 10
Views: 1655

Re: Irrevocable Trust Question

I've gone through this in the last few months and if the answer is yes to the above you are probably fine. The trust defines the beneficiaries. In our case we have 8 beneficiaries and in the beneficiary block we just wrote "multiple". Have you logged into Fidelity and checked the on-line beneficiar...
by Afull
Mon Sep 04, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: High interest checking or cash back credit cards?
Replies: 9
Views: 1255

Re: High interest checking or cash back credit cards?

I use cc for all purchases possible regardless of how large or small to get the cash back. One way to look at it on $100 in charges you get $2/mo (ignoring grace periods) and 2% annual requires 12 months for $100 to earn $2. (One exception, if the merchant will provide discount equal or greater than...
by Afull
Mon Sep 04, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust Question
Replies: 10
Views: 1655

Re: Irrevocable Trust Question

Is this a new acct due to death of the grantor and is the brokerage acct titled in the name of the trust? I've gone through this in the last few months and if the answer is yes to the above you are probably fine. The trust defines the beneficiaries. In our case we have 8 beneficiaries and in the ben...
by Afull
Mon Jul 31, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 5980

Re: Will/Trust Plan Thoughts?

Also, what are the kids' options for dealing with this trust after your deaths? Can they take over direction of it without having to pay endless trustee fees to Fidelity? The kids have all the rights that I've allowed them in the trust. You are free to designate. There was a thread in the last mont...
by Afull
Mon Jul 31, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 5980

Re: Will/Trust Plan Thoughts?

Do you have an estimate of what these trustee service fees would be over, say, ten years, as a percentage of assets in the accts? It seems to me they would be a lot. Also, what are the kids' options for dealing with this trust after your deaths? Can they take over direction of it without having to ...
by Afull
Mon Jul 31, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 5980

Re: Will/Trust Plan Thoughts?

To those who maintain that there is little or no cost or complication involved in leaving assets to a child in trust rather than outright: Over 75% of the assets owned by my wife and I are in tax-deferred IRA accounts. I'm guessing that many others also have large percentages of their assets in tax...
by Afull
Thu Jul 20, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Chipping away at the mortgage
Replies: 48
Views: 10806

Re: Chipping away at the mortgage

Is the following thinking correct? VCADX yields 1.81% with a duration of 5 yrs. We are 25% fed, 9.3% CA. So, that's a rate 34.3%. Hence we are paying 2.71% on the mortgage after tax deductions. B/c that's more than the current yield on VCADX, makes sense to pay down the mortgage. I'd look at total ...
by Afull
Wed Jul 12, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Refinance? Invest? Both?
Replies: 7
Views: 685

Re: Refinance? Invest? Both?

We don't plan to move - oldest is 16 and youngest is 10, expect to be here another 15 years, unless things go really well or really poorly. Maybe longer. It would be good to keep an open mind on that. Once the youngest kid is through high school you may not need that size house anymore. At that poi...
by Afull
Tue Jul 11, 2017 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance? Invest? Both?
Replies: 7
Views: 685

Re: Refinance? Invest? Both?

Switching to a 15 looks like about a $500 per mo increase on the required payment, from about 1972 to 2500 or so (can't remember exact number). The trickier part is the closing costs and fees, which I'm not sure what they would be exactly. But I think the refi would save me 80-100k in theoretical i...
by Afull
Tue Jul 04, 2017 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: What is the best way to do 60/40 in a taxable account I only have taxable to work with
Replies: 24
Views: 2058

Re: What is the best way to do 60/40 in a taxable account I only have taxable to work with

In my taxable I have a total stock, total international and muni bond (which is also what would be considered my emergency fund). Easy to maintain. Do you pay state taxes on muni bonds? I'm in MO also. So no federal tax (at 15%), but mostly yes on state (at 6%). MO won't tax the portion of muni inc...
by Afull
Sun Jul 02, 2017 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help with cashflow
Replies: 24
Views: 3786

Re: Help with cashflow

Does it make sense to: - Withdraw 10K out of the Roth contributions to pay this loan off? No. - Stop contributing to Roth to expedite paying this loan off? No - Do nothing and just ride it out the next couple of years? (I think our cash flow situation will get better the cars are paid off and the k...
by Afull
Mon Jun 26, 2017 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 54
Views: 5967

Re: irrevocable trust for children receiving an inheritance

Not going to discuss any further why I and my sibling want to protect our very young children from creditors, etc. two or three decades from now. Suffice it to say we have very good reasons that my parents could not have forseen. Furthermore I do not have the aversion to perpetual trusts that some ...
by Afull
Mon Jun 26, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Bank Account - Payable on Death or Account Co-Owner
Replies: 14
Views: 1610

Re: Bank Account - Payable on Death or Account Co-Owner

I agree with using a PoA to be able to pay the parents bills in lieu of jt ownership. To keep this as easy as possible best to go to the bank of choice with one of the parents and give the bank a copy of the PoA to have on file before it's needed. If it's an online bank check with the bank about hav...
by Afull
Mon Jun 26, 2017 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Incorrect IRS notice, should I worry?
Replies: 13
Views: 1996

Re: Incorrect IRS notice, should I worry?

Since only the address was correct for the mailing I don't see how you'd have an ID theft problem.

I wouldn't have opened the letters. I would have just marked "not at this address" on the envelop and handed back to the mailman.
by Afull
Sun Jun 25, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Mediator for ownership division of primary home
Replies: 46
Views: 2683

Re: Mediator for ownership division of primary home

YOu might browse this thread for mediator ideas and comments, viewtopic.php?f=2&t=221324&e=1&view=unread#unread
by Afull
Tue Jun 20, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce and My IRA
Replies: 21
Views: 5678

Re: Divorce and My IRA

So far, I have contributed $9,500. The account as of today is worth $10,202.71 - a difference of $702.71 in gains on the account. As I understand it, since I have had the account for less than five years, I cannot withdraw anything - not even my own contributions - without a 10% penalty. I don't th...
by Afull
Tue Jun 20, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Full comprehensive or liability only?
Replies: 30
Views: 3328

Re: Full comprehensive or liability only?

My inclination would just be sure to have liability with one other caveat, if you have an umbrella liability policy it may require you to have full coverage on all cars, ask the agent. Why would an umbrella, which is liability coverage, require collision and comprehensive coverage? I have never hea...
by Afull
Mon Jun 19, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce and My IRA
Replies: 21
Views: 5678

Re: Divorce and My IRA

I believe in a divorce a judge can issue a ruling that allows the custodian to split the two accts, one for each of you. Your divorce attorney should know this as this should be a common occurance. I would not try and trade the Roth vs. house hold property as I suspect people tend to over value this...
by Afull
Mon Jun 19, 2017 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Full comprehensive or liability only?
Replies: 30
Views: 3328

Re: Full comprehensive or liability only?

We just bought a used vehicle. It's a 2008, 32k miles, the body and inside are great but there are a few minor issues. We paid $5,000. We currently use State Farm but are looking to switch to Geico. Here are the quotes we got from State Farm: Full comprehensive - $291 every 6 months Liability - $16...
by Afull
Sun Jun 18, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 27191

Re: Siblings in disagreement over mom's house.

Interesting thread. How about getting an appraisal then the five of you go to an attorney together who can explain all the possible options. The attorney should also explain the risks of having a house sitting empty, uninsured, in disrepair, and in arrears on taxes. Just a thought. An appraisal wou...
by Afull
Sat Jun 17, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 27191

Re: Siblings in disagreement over mom's house.

Interesting thread. How about getting an appraisal then the five of you go to an attorney together who can explain all the possible options. The attorney should also explain the risks of having a house sitting empty, uninsured, in disrepair, and in arrears on taxes.

Just a thought.
by Afull
Thu Jun 15, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary designations for trust
Replies: 15
Views: 1911

Re: Beneficiary designations for trust

Can I send all of these accounts letters indicating my beneficiary designations when the online forms won't accept what my attorney specified? Does that work? It's been six years since the will was done, and after much initial effort, I gave up "getting it right" and figured we weren't likely to di...
by Afull
Thu Jun 15, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Underpayment Penalty
Replies: 9
Views: 1676

Re: Estimated Tax Underpayment Penalty

Rephrased with numbers, if the penalty is 4% (which I read somewhere), and my withholdings are only 89% of my federal tax bill, will my penalty be 0.11 * 0.04 = 0.44% of my federal taxes, or 1.0 * 0.04 = 4% of my federal taxes? Note the 4% is an annualized rate. So the penalty is based on the numbe...
by Afull
Thu Jun 15, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Having someone else pay our mortgage
Replies: 13
Views: 3214

Re: Having someone else pay our mortgage

We rented a current home and purchased a larger house in a different city, but still only about 30 minutes away. We kept the rental for about 15 years and it was profitable, but you have to be prepared for the inevitable headaches. Changing tenents, plumbing, heating, AC, late rents, etc. So take yo...
by Afull
Thu Jun 15, 2017 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Fund Hell
Replies: 66
Views: 10595

Re: Trust Fund Hell

Unfortunately, switching from one corporate trustee to another will likely never get you to a Bogleheads investment strategy. They are all bound by prudent investor rules and will feel compelled to demonstrate special skills (i.e. make it complicated and expensive). Even Vanguard's?? https://person...
by Afull
Wed Jun 14, 2017 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Fund Hell
Replies: 66
Views: 10595

Re: Trust Fund Hell

Unfortunately, switching from one corporate trustee to another will likely never get you to a Bogleheads investment strategy. They are all bound by prudent investor rules and will feel compelled to demonstrate special skills (i.e. make it complicated and expensive).[/quote] Even Vanguard's?? https:/...
by Afull
Wed Jun 14, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Fund Hell
Replies: 66
Views: 10595

Re: Trust Fund Hell

As some will likely recall, I feel the best/safest way to comply with the prudent investor rule is to supersede it with specific investment directions within the trust document. If the trust requires the trustee to invest trust financial assets in a "Boglehead Three Fund Portfolio," (not in those e...
by Afull
Tue Jun 13, 2017 5:11 am
Forum: Personal Finance (Not Investing)
Topic: Use HELOC for tax benefit?
Replies: 10
Views: 2087

Re: Use HELOC for tax benefit?

I do not have experience with this, but have seen it discussed elseware. How about a margin loan from your brokerage acct. You'd need to see what the rates are for your brokerage and I know there is a big spread between brokers.
by Afull
Mon Jun 05, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding the Hassle Factor - Vanguard, Schwab, or Fidelity?
Replies: 82
Views: 11893

Re: Avoiding the Hassle Factor - Vanguard, Schwab, or Fidelity?

...To the greatest extent possible, we want to make sure we minimize the "hassle factor" while still having access to great, low cost mutual funds. Hassle factor meaning paying unnecessary taxes due to paperwork errors, long waits on phone calls, and any other frustrating, time consuming, costly, a...
by Afull
Mon Jun 05, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Convert this small tIRA to Roth or not?
Replies: 9
Views: 1261

Re: Convert this small tIRA to Roth or not?

I retired at 60 and at that point I projected taxable income out to age 80 in an EXCEL spreadsheet. Takes me 15-30 minutes a couple times a year to update. Not doing this projection my assumptions would have had me making too small conversions early and I would have been converting too many years. E...
by Afull
Mon Jun 05, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgages for seniors
Replies: 8
Views: 1302

Re: Mortgages for seniors

My experience as well in a 2012 re fi. To solve I had broker sell a set amount each month of bond fund then I reinvested each mo. After the closing I stopped the selling-reinvesting. Just applied for a new morgage last week and broker is looking it over...similar concerns this time, but now I have S...
by Afull
Thu May 11, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Seeking advice for retirees (age 69, perhaps $3 MM) that are unhappy with their advisors
Replies: 34
Views: 3591

Re: Seeking advice for retirees (age 69, perhaps $3 MM) that are unhappy with their advisors

EDIT to add: the following is an email I received from them yesterday [bolding is mine]: "They have done an outstanding job for us which enabled us to retire when we did. Even after we retired our investments gained nicely even with us making steady withdrawals. About four years ago they changed th...
by Afull
Thu May 11, 2017 2:03 am
Forum: Personal Finance (Not Investing)
Topic: Seeking advice for retirees (age 69, perhaps $3 MM) that are unhappy with their advisors
Replies: 34
Views: 3591

Re: Seeking advice for retirees (age 69, perhaps $3 MM) that are unhappy with their advisors

Their story: Evidently the advisor did very well for them for many years, even into their first year or two of retirement, including making some gains when the market was on a downturn (their words/synopsis). But for the past 2-3 years, their net worth has decreased and this seems to coincide with ...
by Afull
Thu May 11, 2017 1:24 am
Forum: Personal Finance (Not Investing)
Topic: Help my friend give away his estate
Replies: 34
Views: 5182

Re: Help my friend give away his estate

...But instead, what if he bequeathed the money to his children with the understanding (agreement? suggestion?) that they were to donate these funds over say the next ten years. Wouldn’t this be a win-win? The organization would get the same donation value, and his kids would receive substantial in...
by Afull
Sun Apr 09, 2017 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 4832

Re: Telling Family About Daughters 529 For Gifts

I agree with NotWhoYouThink's general point. If you aren't prepared to fully prefund your grandchild's college education, which is understandable, then give annual amounts to the extent your finances allow that your daughter/SIL can invest for that purpose. They will appreciate your generosity and ...
by Afull
Sat Apr 08, 2017 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 4832

Re: Telling Family About Daughters 529 For Gifts

I'd bring it up once in a casual conversation and then let it go depending on their response. It also depends on financial situations of the various family members. Timing of this thread is interesting because our only Grandchild is just past two and our daughter told us a 3-4 months ago that she's...
by Afull
Fri Apr 07, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring Retirement Accounts - Problems?
Replies: 11
Views: 1269

Re: Transferring Retirement Accounts - Problems?

I agree with what's posted and only add that there is usually an acct closing fee, you should ask about that. For large accts like you have the receiving brokerage often will reimburse the closing fee and give you a little cash bonus. I don't think Vanguard does, but you should ask. The closing fee ...
by Afull
Fri Apr 07, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Family About Daughters 529 For Gifts
Replies: 52
Views: 4832

Re: Telling Family About Daughters 529 For Gifts

I'd bring it up once in a casual conversation and then let it go depending on their response. It also depends on financial situations of the various family members. Timing of this thread is interesting because our only Grandchild is just past two and our daughter told us a 3-4 months ago that she's ...
by Afull
Wed Apr 05, 2017 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Management in preparation for retirement
Replies: 29
Views: 2623

Re: Tax Management in preparation for retirement

25 posts and no one has mentioned I-ORP? :oops: I am using I-ORP to guide me on IRA to ROTH conversions to moderate taxes. While Medicare is not the focus of that spreadsheet, managing taxes is. And it will cost you nothing or a donation of your choosing. You'll get a table that shows total income ...
by Afull
Wed Apr 05, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Management in preparation for retirement
Replies: 29
Views: 2623

Re: Tax Management in preparation for retirement

[/quote] Wizard (or Afull), This sounds really useful. Do you know of a template or existing model that I could start with? Thanks, S[/quote] I did quite a bit of research trying to find some type of planner, but my problem was they were too simplified, complicated or did not fit my situation very w...
by Afull
Tue Apr 04, 2017 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Management in preparation for retirement
Replies: 29
Views: 2623

Re: Tax Management in preparation for retirement

To the OP's first question I don't see the big deal about paying a tax professional to look over your shoulder provided you've got all your financials info together so that you don't need him to do a lot of research just sorting through your stuff. Sleep better at night. However it's really importan...
by Afull
Mon Apr 03, 2017 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 6981

Re: Will vs Living Trust

Regarding the trust vs. will one reason for a trust that I didn't see mentioned is incapacity and you said your health is declining. I don't know that it makes sense for PoAs and trusts to be treated as differently as they apparently are in this regard, but that seems to be the case. Seemingly ever...