Search found 431 matches

by chemocean
Thu May 13, 2021 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: How did you figure out what to Retire TO?
Replies: 51
Views: 3106

Re: How did you figure out what to Retire TO?

Somewhere recently, I read there are three types of retirees: life centered on extended family and friends. Watch the grandchildren. See church friends every week. Lots of people like this in the small town where I grew up. life centered on adventures, active leisure, travel, bucket list. life cent...
by chemocean
Wed May 12, 2021 8:00 pm
Forum: Personal Consumer Issues
Topic: HOA Advantage
Replies: 110
Views: 7223

Re: HOA Advantage

I will always have an HOA that mandates what you can do with your property. Unless the HOA is willing to sue under the covenants or bylaws of the HOA, the HOA has no teeth. In this case, homeowners have a guideline that they can ignore. The HOA can assess fines, which may or may not be governed by ...
by chemocean
Wed May 12, 2021 9:30 am
Forum: Personal Consumer Issues
Topic: HOA Advantage
Replies: 110
Views: 7223

Re: HOA Advantage

FelixTheCat wrote: Mon Nov 25, 2019 4:35 pm I will always have an HOA that mandates what you can do with your property.
Unless the HOA is willing to sue under the covenants or bylaws of the HOA, the HOA has no teeth. In this case, homeowners have a guideline that they can ignore.
by chemocean
Tue May 11, 2021 9:02 am
Forum: Personal Investments
Topic: RMD re-invested into a Roth?
Replies: 7
Views: 750

Re: RMD re-invested into a Roth?

You can not rollover any RMDs into a Roth IRA. Since you indicate that the IRA came from your aunt (next generation), I will assume that you are earning wages. You can invest earned income into a Roth up to $6000 directly into a Roth and use the inherited IRA withdrawal to replace that spending mone...
by chemocean
Mon May 10, 2021 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: To convert TIRA to ROTH or not to convert? Should my FIL bother?
Replies: 3
Views: 407

Re: To convert TIRA to ROTH or not to convert? Should my FIL bother?

Without any changes in legislation, the 22% is going to go up to 25% in 2026. Your FIL should do the calculation for each surviving spouse filing as a single with the RMDs at 72 with some estimated growth rate of investments. The calculation probably will show that the surviving spouse filing as a s...
by chemocean
Mon May 10, 2021 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: What prompted you to pull the plug and retire?
Replies: 123
Views: 11479

Re: What prompted you to pull the plug and retire?

I wasn't having fun any more at work because of the bureaucracy.
by chemocean
Sat May 08, 2021 3:27 pm
Forum: Personal Investments
Topic: Maintain AA in tIRA only vs across tIRA and Roth
Replies: 11
Views: 823

Re: Maintain AA in tIRA only vs across tIRA and Roth

Since legacy transfer to son seems to be your primary goal for the combined tIRA and Roth, the amount you leave in your tIRA is balance of: 1) the projected taxable income son can handle over the ten years provided by the Secure Act, 2) the remaining charitable giving through your lifetime, 3) the u...
by chemocean
Fri May 07, 2021 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping track of my “other” through credit inquiries
Replies: 6
Views: 686

Re: Keeping track of my “other” through credit inquiries

Flunked the online identity verifications again requesting a ChexSystems credit report. Name of new wife was on one of the questions. The incorrect SSN-IL connection was on another question. What irks me is the question about the name of a nearby arterial. There was the name of a major arterial that...
by chemocean
Fri May 07, 2021 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Keeping track of my “other” through credit inquiries
Replies: 6
Views: 686

Re: Keeping track of my “other” through credit inquiries

And Chexsystems to lock opening bank savings/checking accounts. Good point. I froze my accounts with Chexsystems years ago but I think it has lapsed because I have earned many checking and savings bonuses. My report through 2019 looks. I will ask for a new credit report. As I mentioned about, becau...
by chemocean
Fri May 07, 2021 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Keeping track of my “other” through credit inquiries
Replies: 6
Views: 686

Re: Keeping track of my “other” through credit inquiries

RickBoglehead wrote: Fri May 07, 2021 9:42 am Ok, ok, we have to know.

Are you going to the wedding? :twisted:
I seriously thought about sending a card containing some friendly advice that his second marriage might go better than first if he pays for the ring of his second wife.
by chemocean
Fri May 07, 2021 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Keeping track of my “other” through credit inquiries
Replies: 6
Views: 686

Keeping track of my “other” through credit inquiries

I have the misfortune of having a spendthrift living in my zipcode with the same first and last name as mine (my “other”). Don’t know about middle name. Years ago, I noticed that if a certain female first name starting with the letter J and my last name showed up on a question verifying my identity ...
by chemocean
Thu May 06, 2021 11:40 pm
Forum: Personal Consumer Issues
Topic: Selling your collectibles
Replies: 12
Views: 1091

Re: Selling your collectibles

I second Offer up for bulking items that are transferred person-to-person. I make the transfer at a parking lot at a nearby grocery store.
Offer Up is only good for used items. I have not seen many collectibles on the site.
by chemocean
Wed May 05, 2021 7:03 pm
Forum: Personal Consumer Issues
Topic: Mail and time gap between selling house and entering new home
Replies: 10
Views: 1066

Re: Mail and time gap between selling house and entering new home

Consider opening a PO box at a private facility. Many will sort through the junk mail and send the important documents to you on a regular basis and to different address. I inquired and their fee for this service was reasonable
by chemocean
Tue May 04, 2021 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: When does my state residency change?
Replies: 32
Views: 2729

Re: When does my state residency change?

While I was updating estate plans, I asked my WA estate attorney the same questions. WA does not have an income tax, but it has one of the lowest single exemptions for state estate tax. He told me that you are a resident of a state of WA until you take a definitive action to indicate that you are re...
by chemocean
Mon May 03, 2021 5:27 pm
Forum: Personal Consumer Issues
Topic: Thinking of Teaching a Course on Building a Financial Spreadsheet
Replies: 7
Views: 948

Re: Thinking of Teaching a Course on Building a Financial Spreadsheet

Reminds me of a task I had in the late 1980s when I build a spreadsheet (Lotus 123) chemical model (double precision using the new 8087 chip). One professor thought it was great, but another professor asked why didn't I just learn how to use the off-the-shelf Fortran-based model that was recently re...
by chemocean
Sun May 02, 2021 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Question for Insurance Professionals [Credit-score based premiums]
Replies: 7
Views: 824

Re: Question for Insurance Professionals

If you live in Washington state, then the ban on credit-based insurance pricing goes into effect on June 20, 2021. If your policy is renewing before then, you'll have to wait for the next renewal to see your premium go down. It'll be interesting to see what happens. The credit-based insurance score...
by chemocean
Sat May 01, 2021 11:27 pm
Forum: Personal Consumer Issues
Topic: new leather couch - any recommendations
Replies: 15
Views: 1442

Re: new leather couch - any recommendations

In 2002, we bought a two-seat sectional from Elran in Canada because the foam did not contain brominated fire retardants (PBDE's). Since then PBDEs have been banned in furniture in the US, so that is not an issue now. The leather is still in good condition but occasionally need to reset the screws h...
by chemocean
Sat May 01, 2021 11:18 pm
Forum: Personal Consumer Issues
Topic: Questions for New York Times Subscribers
Replies: 42
Views: 3394

Re: Questions for New York Times Subscribers

Call and tell them you want to cancel. They were quick to extend our subscription at $4 a month. My $4 month was about to expire and saw the $17/month on my credit card. Logged in and started a chat two days before the expiration date. Asked to extend the $4/month or cancel. Supposedly, they extend...
by chemocean
Fri Apr 30, 2021 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Question for Insurance Professionals [Credit-score based premiums]
Replies: 7
Views: 824

Re: Question for Insurance Professionals

It would seem to me that the model developed in the 1990s, for which factor 3: age of account for line of credit and factor 4: pursuit of new credit were statistically significant in GLMs, are no longer valid today. The industry still uses the 2007 FTC report as justification for use of Credit Base...
by chemocean
Fri Apr 30, 2021 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Question for Insurance Professionals [Credit-score based premiums]
Replies: 7
Views: 824

Question for Insurance Professionals [Credit-score based premiums]

Specific Question for Insurance Professional: a) Is there a URL that gets into the specifics of the FICO Insurance Score model or any other model (i.e., the correlation tables available to the public). b) Does the age of our current credit accounts matter more than the number and frequency of accoun...
by chemocean
Sun Apr 25, 2021 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Named in grandparent’s trust/will
Replies: 17
Views: 2257

Re: Named in grandparent’s trust/will

I think your plan on finding the specifics of the trust and its disbursement to you is an excellent idea (i.e. get the copies of the will and trust documents). Until you get the documents, I don't think either an estate attorney or a CPA would be able to provide you much advice. I think the estate p...
by chemocean
Sun Apr 25, 2021 9:45 am
Forum: Personal Finance (Not Investing)
Topic: RMD coming.....
Replies: 131
Views: 13424

Re: RMD coming.....

Roth conversions do make sense with the passage of the Secure Act, especially if there is a possibility that you non-spousal heirs will inherit your IRA and 401K. You will paying taxes at a higher bracket whether you convert now and wait for the RMDs to kick in. If your non-spousal heirs receive you...
by chemocean
Sat Apr 24, 2021 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Credit Cards - cancel or let close due to inactivity
Replies: 20
Views: 1953

Re: Credit Cards - cancel or let close due to inactivity

During the period of inactivity the cards may be used fraudulently either from an inside job or from a retailer when they were in use. I would close them to prevent fraud unless you plan on closely monitoring them. Dealing with fraud is a pain, especially with complex fraud in large amounts. Police ...
by chemocean
Sun Apr 18, 2021 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with Citibank Bonus Offer
Replies: 34
Views: 3124

Re: Experience with Citibank Bonus Offer

I was looking at the CITI bank bonus. Thanks all for the caution to stay away. I was leery because I couldn't find the fee for closing the account. Most banks charge a fee for closing before six months. If you have to keep the $10K in the savings to avoid the monthly service fee, then the bonus is n...
by chemocean
Sat Apr 17, 2021 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: TSP limited withdrawal options
Replies: 3
Views: 593

Re: TSP limited withdrawal options

I am not withdrawing funds for daily living yet, so I have not had your problem. You are correct, even with the new transfer rules, transferring to a traditional IRA is still clunky. Your signature needs to be notarized and the receiving traditional IRA needs to sign acceptance on page 4 of the tran...
by chemocean
Sat Apr 17, 2021 11:29 am
Forum: Personal Consumer Issues
Topic: general contractor vs specialist
Replies: 12
Views: 724

Re: general contractor vs specialist

You will be paying the general contractor his markup to manage the specialist he/she usually works with, no matter how good they are. Be you own general contractor. Get bids and references for each job have more control over the process and save money. BTW: we will be in the same situation as the OP...
by chemocean
Sat Apr 17, 2021 10:48 am
Forum: Personal Finance (Not Investing)
Topic: When to transfer vehicle title to Teen?
Replies: 4
Views: 489

Re: When to transfer vehicle title to Teen?

I am not a lawyer. But from what I have heard in this forum and podcast, If the car is titled in his name and he has low liability insurance and has an accident, the defendant's lawyer is going to look for any thread to connect to the big bucks (YOU!). I image if he qualifies as your dependent for t...
by chemocean
Tue Apr 13, 2021 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Finally convinced to get out of TSP, mostly
Replies: 1
Views: 590

Finally convinced to get out of TSP, mostly

Our estate planning includes the possibility of the surviving spouse declaiming some of their inherited tax deterred funds to pass them onto the inherited IRAs of non-spousal contingent beneficiaries of the deceased owner. According to a recent Morningstar podcast (Longview), a couple should prepare...
by chemocean
Mon Apr 12, 2021 2:31 pm
Forum: Personal Consumer Issues
Topic: What do you do with well worn clothing?
Replies: 39
Views: 3302

Re: What do you do with well worn clothing?

Wear around the house, and gardening. But not off our lot. Has worked really well in COVID year.
by chemocean
Mon Apr 12, 2021 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: avoiding tax implications for child with inherited IRA
Replies: 8
Views: 826

Re: avoiding tax implications for child with inherited IRA

Under the SECURE act, I think the deferral of the 10-year rule only applies to a dependent of the original owner. You did not indicate the relationship between your son and the original owner.
by chemocean
Sun Apr 11, 2021 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB
Replies: 154
Views: 11437

Re: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB

... If you don't name beneficiaries, the inherited IRA go to the estate, which is not a person, and must be withdrawn in 5 years instead of 10. It depends on the default provisions of the IRA agreement. Some default to the spouse, or if none then to the issue (descendants), or if none then to the e...
by chemocean
Sun Apr 11, 2021 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: No longer kicking myself for not doing Roth Conversions in 2019
Replies: 1
Views: 615

No longer kicking myself for not doing Roth Conversions in 2019

I was slow on the uptake in 2019 after passage of the SECURE act. In early 2019, I did some capital gains harvesting at a low capital gains rate. In mid-2019, I decided I needed to convert tIRA to Roth IRA to the next level because of the Secure Act. But I don't want to loss the low capital gains ra...
by chemocean
Sun Apr 11, 2021 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB
Replies: 154
Views: 11437

Re: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB

I was the patron at our public library to request that the library buy the book and was the first to read it. Couple things that I was aware of that he emphasized concerning Roth conversions to a point: 1) Tax brackets for the surviving spouse are lower and narrower- convert judiciously while filing...
by chemocean
Sun Apr 11, 2021 9:54 am
Forum: Personal Consumer Issues
Topic: Replacing 20yrs old wooden fence and situation with neighbors
Replies: 38
Views: 5155

Re: Replacing 20yrs old wooden fence and situation with neighbors

We bought a house in a development in which houses started to be built in 1995 that was bought from the adjacent commercial property. At that time a fence was constructed across the back of all the lots by the developer. The commercial property had the good side of the fence and the posts were not l...
by chemocean
Sat Apr 10, 2021 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Age 63 retired, planning how to use Roth conversions
Replies: 35
Views: 4121

Re: Age 63 retired, planning how to use Roth conversions

Couple of other things to consider: 1) Under present conditions (i.e., following the Forums guidelines), the 22% rate become 25% rate in 2026, so definitely convert through 2025 to a modest margin below the first projected IRMMA threshold two your hence, 2) If you are charitably inclined, "some...
by chemocean
Fri Apr 09, 2021 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Disclaiming a portion of an inheritance
Replies: 16
Views: 1220

Re: Disclaiming a portion of an inheritance

It has also been advised that the disclaimer document be written by an estate attorney to assure that the language conforms with state law on disclaiming. (in the state that original owner resided?)
by chemocean
Mon Apr 05, 2021 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to file taxes before May 17?
Replies: 34
Views: 3717

Re: Any reason to file taxes before May 17?

If you wait, establish an IRS online account and get a PIN for this year's return to avoid fraud from someone else filing your return for you. How is it I've never considered this idea? Thanks for the suggestion. I think this is the first year you can get the PIN voluntarily without having had your...
by chemocean
Sat Apr 03, 2021 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to file taxes before May 17?
Replies: 34
Views: 3717

Re: Any reason to file taxes before May 17?

If you wait, establish an IRS online account and get a PIN for this year's return to avoid fraud from someone else filing your return for you.
by chemocean
Fri Apr 02, 2021 6:28 pm
Forum: Personal Consumer Issues
Topic: New Tool Suggestions
Replies: 31
Views: 2288

Re: New Tool Suggestions

I would suggest that you look to see if their is a non-profit Tool Library operating within a reasonable distance from your home.
by chemocean
Fri Apr 02, 2021 12:46 pm
Forum: Personal Consumer Issues
Topic: IRS.gov tax account sign up
Replies: 23
Views: 2062

Re: IRS.gov tax account sign up

I have an account and want to do same for my spouse now. We generally share the same email address for these kinds of things. Would that be a problem setting up her account? don't know, but probably. But since IRS has your cell number, you should be able to use that cell number if you file jointly.
by chemocean
Fri Apr 02, 2021 12:44 pm
Forum: Personal Consumer Issues
Topic: IRS.gov tax account sign up
Replies: 23
Views: 2062

Re: IRS.gov tax account sign up

Carrier not the correct reason. We have Verizon and was in the same situation. Your cell phone is not in their system (i.e., you did not include your phone number in the space below your signature on page 2 of your return). Now, why would anyone want not to give the IRS their cell phone number. Bea...
by chemocean
Fri Apr 02, 2021 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Is auto purchase through Costco a good deal?
Replies: 12
Views: 1745

Re: Is auto purchase through Costco a good deal?

I agree that the COSTCO is a good high baseline. If you are looking in the fall to buy last years models, you can get a better deal if you are willing to accept an actual car on the dealers lot rather than special order the specifics of your want list. Last car I purchased, I made a spreadsheet of a...
by chemocean
Thu Apr 01, 2021 3:37 pm
Forum: Personal Consumer Issues
Topic: IRS.gov tax account sign up
Replies: 23
Views: 2062

Re: IRS.gov tax account sign up

Got to the final action; and IRS could not verify my cell phone # to send code to complete the exercise. Suspect because my cell phone is with a non "main line" carrier. Carrier not the correct reason. We have Verizon and was in the same situation. Your cell phone is not in their system (...
by chemocean
Wed Mar 31, 2021 10:26 am
Forum: Personal Consumer Issues
Topic: Washing machine- tech diagnotics didn't help
Replies: 4
Views: 526

Re: Washing machine- tech diagnotics didn't help

Did the lid sensor check out ok? If that goes bad it can stop the machine from draining or running at all. Not the same washer, but I've replaced the lid switch on our 27-year-old washer twice and once I simply used a cable tie to fix it. We just borrowed the extra washer from a nearby family membe...
by chemocean
Tue Mar 30, 2021 3:39 pm
Forum: Personal Consumer Issues
Topic: What to do with 20 year old Bosch Dishwasher
Replies: 33
Views: 2345

Re: What to do with 20 year old Bosch Dishwasher

You've gotten good advice. I'd just add there should be an easily accessible food/particle trap at the bottom where the water drains (inside the dishwasher) that you should remove and rinse out in the sink every six months or so. That should be documented in the manual, and if you don't have the pr...
by chemocean
Tue Mar 30, 2021 1:11 pm
Forum: Personal Consumer Issues
Topic: Washing machine- tech diagnotics didn't help
Replies: 4
Views: 526

Washing machine- tech diagnotics didn't help

Our 10-year Whirlpool Cabrio washing machine Whirlpool Cabrio stopped spinning during one cycle and we had to wring the clothes out. The machine just clicked and won't start the first cycle on the next load. Manual said that there may be something clogging the drain line. Took the whole drain line a...
by chemocean
Sun Mar 28, 2021 9:49 pm
Forum: Personal Consumer Issues
Topic: From your personal experience, bathroom in finished basement?
Replies: 37
Views: 2753

Re: From your personal experience, bathroom in finished basement?

Depending on the design of waste handling system, you might need a pump tank and a pump to get the waste in the basement up to the sewer or septic connection for the house.
by chemocean
Sun Mar 28, 2021 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8738

Re: Secure Act and trusts

Roth conversions are the solution. The marginal tax rate of a Roth withdrawal is 0%. But during the 11th year after the death of the surviving spouses, the principal of the Roth IRA will start throwing off dividends at about 1% a for large cap equity Index funds in the trust, which the Trustee will...
by chemocean
Sun Mar 28, 2021 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8738

Re: Secure Act and trusts

Roth conversions are the solution. The marginal tax rate of a Roth withdrawal is 0%. But during the 11th year after the death of the surviving spouses, the principal of the Roth IRA will start throwing off dividends at about 1% a for large cap equity Index funds in the trust, which the Trustee will...
by chemocean
Sun Mar 28, 2021 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8738

Re: Secure Act and trusts

I felt blindsided by the SECURE act, as we saved and invested aggressively into ROTH and 403B plans with the goal of providing a lifetime of shelter and care for our adult child who has a history of mental illness. ... Something I never realized until reading this board is that trusts pay taxes on ...