Search found 146 matches

by Boston Barry
Sat Feb 03, 2024 3:33 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1459
Views: 110237

Re: Robinhood 3% IRA Match

runr wrote: Fri Feb 02, 2024 7:37 pm
yougotitdude wrote: Fri Feb 02, 2024 5:57 pm Are any of you guys putting much more than the $500,000 in?
Yup, as I doing all 3 RH accounts, but still SIPC covered.
I transferred my 1M traditional IRA to get a 30K bonus. Invested in AOR etf.
by Boston Barry
Sat Dec 30, 2023 9:55 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7737
Views: 1337678

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

calwatch wrote: Sun Dec 24, 2023 5:57 pm
Helium wrote: Thu Dec 21, 2023 2:06 pm Here are all the current promotions. Am I missing anything?
Robinhood: (no IRA) https://robinhood.com/us/en/
Robinhood will do IRAs and 401(k) rollovers with a 1% match but the lockup period is five years. https://robinhood.com/us/en/support/art ... match-faq/
If I sign up for Robinhood Gold status and transfer $1M IRA to RH, do I receive (3%) 30K bonus instead of (1%) 10K? It’s not clear to me from their website.
by Boston Barry
Mon Sep 18, 2023 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Recommendations for business and personal bank (Colorado)?
Replies: 11
Views: 1340

Re: Recommendations for business and personal bank (Colorado)?

Fidelity offers both personal and business accounts.
by Boston Barry
Thu Sep 14, 2023 12:04 pm
Forum: Personal Consumer Issues
Topic: Pros and Cons of "Do Not Resuscitate"
Replies: 209
Views: 49703

Re: Pros and Cons of "Do Not Resuscitate"

Pro: You are not resuscitated

Con: You are not resuscitated

Boston Barry
by Boston Barry
Sat May 06, 2023 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to earn interest with business and personal checking accounts?
Replies: 7
Views: 847

Best way to earn interest with business and personal checking accounts?

I am looking for advice regarding earning interest on balances in personal and business checking accounts. My wife owns a retail store. She has a business checking account and it typically has balances of 20-100K in it. We typically carry $20-50K in our personal (joint) checking account. Until recently, I didn’t really give this much thought. But because interest rates are so much higher now, and they are money market funds, and other ways to earn 5% interest, I started checking into how to do this through business and personal checking account. It is not a straightforward as I thought (eg I thought it would be possible to invest in a money market fund and have the account automatically sell and cover checks, but I could not find such a ban...
by Boston Barry
Sat Mar 04, 2023 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Finances of buying a home: is it actually a good idea?
Replies: 34
Views: 4548

Re: Finances of buying a home: is it actually a good idea?

Very true. I didn't ever have a mortgage on my home, which helped me sleep at night for the last 15 years but probably did not make financial sense when rates were 3% or less.
by Boston Barry
Sat Mar 04, 2023 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Finances of buying a home: is it actually a good idea?
Replies: 34
Views: 4548

Re: Finances of buying a home: is it actually a good idea?

One factor I've always thought about but do not see discussed is that owning a home has protected those assets of mine against my biggest potential danger- me. It locks up my money which I can't then tinker with in dumb ways, particularly in times of crisis (2008, 2020).
by Boston Barry
Tue Jan 24, 2023 9:59 pm
Forum: US Chapters
Topic: your favorite quotes & one-liners
Replies: 272
Views: 48661

Re: your favorite quotes & one-liners

Some favorites, some of which come from this very website: “Live your life for what people might say about you at your funeral rather than for your resumé.” Richard Feynman: "The first principle is that you must not fool yourself -- and you are the easiest person to fool." The Greek philosopher Epictetus: “Wealth consists not in having great possessions, but in having few wants.” “Those who can, do. Those who can’t, teach. Those who can’t teach, teach gym.” -Woody Allen Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and ...
by Boston Barry
Thu Jan 19, 2023 10:22 pm
Forum: Personal Investments
Topic: State tax-exempt money market funds?
Replies: 5
Views: 917

Re: State tax-exempt money market funds?

Thanks! Would that be the same for SCOXX?
by Boston Barry
Thu Jan 19, 2023 10:04 pm
Forum: Personal Investments
Topic: State tax-exempt money market funds?
Replies: 5
Views: 917

State tax-exempt money market funds?

Are Schwab Treasury Obligations Money Fund – Ultra Shares (SCOXX) earnings exempt from state taxes? What about Vanguard Treasury Money Market Fund (VUSXX)? I cannnot find a clear answer to these questions. Furthermore, some posts allude to difficulties on tax returns in reporting that income is state tax-exempt. Can anybody elaborate? Thank you in advance.
by Boston Barry
Thu Jan 19, 2023 9:25 pm
Forum: Personal Investments
Topic: Sell T Bills for Municipal MM funds?
Replies: 8
Views: 1569

Re: Sell T Bills for Municipal MM funds?

A related question: are Schwab Treasury Obligations Money Fund – Ultra Shares (SCOXX) earnings exempt from state taxes? What about Vanguard Treasury Money Market Fund (VUSXX)? I cannnot find a clear answer to these questions.
by Boston Barry
Wed Jan 04, 2023 3:40 pm
Forum: Personal Investments
Topic: Sell T Bills for Municipal MM funds?
Replies: 8
Views: 1569

Re: Sell T Bills for Municipal MM funds?

You are correct, SWTXX- thanks.
by Boston Barry
Wed Jan 04, 2023 1:18 am
Forum: Personal Investments
Topic: Sell T Bills for Municipal MM funds?
Replies: 8
Views: 1569

Sell T Bills for Municipal MM funds?

I bought about 2.4M in T bills on the secondary market (Schwab and Vanguard) at the end of October 2022. They are maturing variably from February-June. I was then planning to re-buy. Money is for home construction, and in taxable accounts. The yield was about 4.4-4,7%.

I recently discovered that the Tax Equivalent Yield of municipal money market funds (SWTXX and VMSXX) is higher (5.5-5.8%).

My Fed bracket is 35%, state 5%.

Should I sell the T bills before maturity and buy into these funds and then withdraw money as it is needed?

Thanks for any advice!
by Boston Barry
Tue Nov 09, 2021 8:17 am
Forum: Personal Consumer Issues
Topic: How much does Medicare cost?
Replies: 104
Views: 12114

Re: How much does Medicare cost?

As a health care professional I would also urge people to not outsource their Medicare with an Advantage plan. I have seen many people hospitalized for an unexpected cause, unable to be discharged to a rehabilitation facility because their outsourced plan (=Advantage) does not have rehab benefits. They go instead to sit forevermore in a bed in a nursing facility at high personal cost. So be careful. It is akin to going for the cheap home insurance but not covering for the rarer, more costly events to your home.
by Boston Barry
Thu Mar 18, 2021 3:22 pm
Forum: Personal Investments
Topic: Anyone have thoughts about smallchange.co ?
Replies: 1
Views: 414

Anyone have thoughts about smallchange.co ?

I came across this website (smallchange.co [not .com])when listening to a podcast about ADUs (accessory dwelling units). Opportunities to invest in real estate passively, I’m pretty certain with a larger risk than by using a Vangaurd REIT, for sure...
Anyone have any thoughts?
by Boston Barry
Mon Aug 17, 2020 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Strange Letter from Bank Regarding Trust Distribution
Replies: 30
Views: 2442

Re: Strange Letter from Bank Regarding Trust Distribution

Thank you all for insightful posts. So interesting as a non-accountant, non-trust lawyer to see how readily people can tell the area of the country (NYC) the trust was established based on its fee structure!🙈

I am still unclear whether it matters if I take cash or securities as the distribution: of cash, my understanding is that the trust will deduct capital gains taxes owed prior to distribution, but that this wouldn’t be taxed as ordinary income. If taken as securities, I would not pay taxes on receipt of the assets but would pay capital gains when the stocks / bonds were sold. Is that correct?
by Boston Barry
Sun Aug 16, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Strange Letter from Bank Regarding Trust Distribution
Replies: 30
Views: 2442

Re: Strange Letter from Bank Regarding Trust Distribution

Thank you Gill. Interesting that this 1% of prior distributions plus current principal used to be the norm!
by Boston Barry
Sun Aug 16, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Strange Letter from Bank Regarding Trust Distribution
Replies: 30
Views: 2442

Re: Strange Letter from Bank Regarding Trust Distribution

Thank you for the reply. Is it normal for the Trust to be responsible for the cost of hiring a lawyer representing the Bank?
by Boston Barry
Sun Aug 16, 2020 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Strange Letter from Bank Regarding Trust Distribution
Replies: 30
Views: 2442

Strange Letter from Bank Regarding Trust Distribution

Hello, I have inherited a Trust account, originally created by my great grandfather, which was then passed on to my father. Now it is set to be liquidated and shared between my brother and me. We were not aware of this trust and have none of the trust documents regarding how it was created, for whom, etc. The bank in charge of the trust wrote a letter to the two of us that states: "Due to the many steps and details involved to settle the trust account, it will take several months to finalize the closing depending on the complexity of the trust. The Bank may forego judicially settling the trust and proposes to settle the trust informally with a Receipt, Release & Refunding Agreement along with an accounting. We have contacted [John ...
by Boston Barry
Sun Aug 16, 2020 3:36 pm
Forum: Personal Investments
Topic: Inherited Roth and 401k accounts
Replies: 8
Views: 798

Re: Inherited Roth and 401k accounts

Thank you everyone for the replies and advice!
by Boston Barry
Wed Jul 08, 2020 10:36 am
Forum: Personal Investments
Topic: Inherited Roth and 401k accounts
Replies: 8
Views: 798

Inherited Roth and 401k accounts

Unfortunately I am inheriting a Roth and 401k account from my father, who died this past week. My understanding is that the Roth will go into an “inherited Roth” account at Schwab. It is currently invested in a high-yield DOW strategy. So no taxes paid on any gains prior or since inheritance, must be Liquidated within 10 years of death.

Regarding the 401k, should I have the stocks in the 401k liquidated in order to reset cost basis? Any other important advice.

Please do not feel obligated to send condolences in any of your replies, and I appreciate any advice anyone may have.
by Boston Barry
Thu Jul 02, 2020 10:58 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA rules confusion
Replies: 5
Views: 599

Re: SEP IRA rules confusion

Ok I see now — the 2019 year does not count toward the tally of needed 2 of 5 previous years. Thanks!!
by Boston Barry
Wed Jul 01, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA rules confusion
Replies: 5
Views: 599

Re: SEP IRA rules confusion

I don’t begin to understand the rules, but my reading online says that if you earned $600+ in a year then you qualify.

Employee worked there July 2018-March 2020, then laid off. Then rehired May 2020.

Wife worked / owned continuously October 2017-present.

Want to do SEP IRA contribution now, counting toward 2019 tax year. Is there any way to structure the eligibility so that my wife can contribute for 2019 without employee being eligible?

“ An employee will be eligible to become a Participant in the Plan after having perform service for the Employer during at least (0,1,2 or 3) of the immediately preceding five Plan Years.”

Thanks again and sorry I am not understanding...
by Boston Barry
Tue Jun 30, 2020 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA rules confusion
Replies: 5
Views: 599

SEP IRA rules confusion

My wife owns / runs a small retail business (LLC). She has one full-time employee, whom she had to lay off March 16-May 8 because of CoVid (store had to close). Her accountant said that she could open a SEP-IRA and contribute 14K to it, based on the business earnings for 2019. Tragically, the accountant died (within the past month) before further questions could be clarified. The business opened in 2017. The current employee started mid 2018, and is back again after the layoff from March-May. The accountant never mentioned that the employee would qualify for SEP IRA but I don’t know how to structure it for my wife to avoid having employee included. Any advice? There is the 3/5 rule, but I am not clear whether the SEP IRA has to have been es...
by Boston Barry
Sat Apr 04, 2020 12:46 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 12353

Re: Cares Act Payroll Protection Program

I have a similar question (posted earlier on similar thread here). My small business, a retail store, is an LLC taxed as a sole proprietor— in other words, I don’t pay myself with a w2 but rather report my income on a schedule C. I also have two full-time employees, who get W2s. Do I check the box on the PPP form “sole proprietor,” and calculate the average monthly payroll by including my own average monthly income plus the W-2 pay of my employees? Or can I only apply for my workers’ salaries and I don’t get to include my own income? My accountant does not know, and the bank not even taking questions yet... Payroll does not include owner distributions, so no, your "pay" is not payroll. I see that logic, but section f on page 10 o...
by Boston Barry
Sat Apr 04, 2020 10:08 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 12353

Re: Cares Act Payroll Protection Program

I have a similar question (posted earlier on similar thread here). My small business, a retail store, is an LLC taxed as a sole proprietor— in other words, I don’t pay myself with a w2 but rather report my income on a schedule C. I also have two full-time employees, who get W2s. Do I check the box on the PPP form “sole proprietor,” and calculate the average monthly payroll by including my own average monthly income plus the W-2 pay of my employees? Or can I only apply for my workers’ salaries and I don’t get to include my own income? My accountant does not know, and the bank not even taking questions yet...
by Boston Barry
Sat Apr 04, 2020 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Can You Get Multiple PPP Loans If You Own Multiple Businesses?
Replies: 8
Views: 8491

Re: Can You Get Multiple PPP Loans If You Own Multiple Businesses?

I have a similar question. My small business, a retail store, is an LLC taxed as a sole proprietor. I had two full-time employees, and report my income on a schedule C. Do I check the box as a sole proprietor, and calculate the average monthly payroll by including my own average monthly income plus the W-2 pay of my employees? My accountant does not know, bank not ready yet...
by Boston Barry
Sat Feb 22, 2020 10:20 pm
Forum: Personal Consumer Issues
Topic: Drunk driver hit new car
Replies: 8
Views: 1769

Re: Drunk driver hit new car

Here is a thread regarding my saga and diminished value.

viewtopic.php?t=274270
by Boston Barry
Fri Feb 07, 2020 8:09 am
Forum: Personal Consumer Issues
Topic: What is the best concert you ever witnessed?
Replies: 434
Views: 39240

Re: What is the best concert you ever witnessed?

Phish at Toads Place, New Haven, CT in 1991
by Boston Barry
Tue Feb 04, 2020 9:20 pm
Forum: Personal Consumer Issues
Topic: Skiing Frugally
Replies: 45
Views: 5683

Re: Skiing Frugally

1. Switch to skinning up the mountain (vs riding the lifts). Incredible exercise and no lift ticket needed

2. Bring tea bags (in addition to food; carrying liquids gets heavy). The hot water is free.
by Boston Barry
Fri Dec 20, 2019 10:39 am
Forum: Investing - Theory, News & General
Topic: Schwab Announcement: "Intelligent Income"
Replies: 22
Views: 3755

Re: Schwab Announcement: "Intelligent Income"

They are currently in the business of making money from cash balances. Their robo-service allocates a ridiculous amount to cash. Something in the realm of 20% of total assets. Naturally, they want a more sure thing, so they are angling for assets in the retirement world, as you are less likely to touch that cash balance. It can be as low as 6% cash, I believe. But the problem is the more conservative your choice of allocation, the more they put in cash. It seems very unfair to effectively charge the customer more for the service just because they are a conservative investor. Of course this probably works to Schwab's advantage, in that older clients with larger accounts are probably more likely to choose a more conservative allocation. I ju...
by Boston Barry
Mon Dec 02, 2019 10:46 pm
Forum: Personal Consumer Issues
Topic: Airline overhead bins...do you think they're assigned?
Replies: 135
Views: 8200

Re: Airline overhead bins...do you think they're assigned?

Airlines SELL priority boarding to people worried about the overhead bins filling up. It says expressly that on airlines’ websites.

An example:

https://upgradedpoints.com/united-airli ... y-Boarding

“ United says that this is a good opportunity for passengers to make sure there will be a place for their carry-on bag, since space often runs out by the time they get to Group 4 and 5.”

Full stop. Nobody has any assigned overhead bin space. The airlines purposely stress people out and make space tight in order to sell a better boarding order and make more profit.

The OP is correct. He did a good deed by moving one of his bags. The lady badmouthing him was wrong.
by Boston Barry
Thu Jul 18, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

I have returned to post an update. Last week I won my small claims court case for full amount + filing fees + cost of independent appraisal. I sued the other driver and his insurance sent me a check for the full amount. Funny as I would have settled for 1/4 of the amount I won. Did the defendant show up? Tell us about the hearing. By the way, why didn't you also sue the defendant's insurance company? Defendant showed up. My understanding is that I cannot sue insurance company as they did nothing, I sue the other driver and his insurance company is obligated to pay. I think it helped that I wrote out a clear and concise statement to read to the judge, preemptively attacking the insurance company’s argument about a previous accident my vehic...
by Boston Barry
Tue Jul 16, 2019 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

I have returned to post an update. Last week I won my small claims court case for full amount + filing fees + cost of independent appraisal. I sued the other driver and his insurance sent me a check for the full amount. Funny as I would have settled for 1/4 of the amount I won.
by Boston Barry
Sat May 18, 2019 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Yeah I thought the original court date and time, set up 1+ months in advance, was the courtesy extended to the defendant. He was 30+ min late.
by Boston Barry
Sat May 18, 2019 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Update from OP: I received notice in the mail that the previous judgment in my favor was subsequently vacated after I left the courthouse. The plaintive evidently showed up, over a half hour late (because I was there for at least half hour after my original appointed time). He gave a sob story to the judge about working two jobs (I work two jobs as well) and how he was on time to the courthouse but could not find parking (I made sure to be on time including time to find parking). I was not given the chance to present any counter argument as I was not present and aware of this discussion. In any event, my court case was rescheduled, pushed out for another two months. This seems bizarre that a judge would allow someone over 30 min late (to a ...
by Boston Barry
Wed May 15, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

They definitely knew about the suit. After defendant was served with court papers his insurance company contacted me, acknowledged awareness of small claims suit, and asked for the appraisal I had obtained.
by Boston Barry
Mon May 13, 2019 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

OP here. Update: had small claims court date late last week, the defendant (driver of other car) failed to show and I won judgment for my appraiser’s diminished value estimate plus court costs and cost of appraisal. I emailed a copy of the judgment to his insurance company. So far no response. If they do not pay out the judgment, I imagine it may be very hard to collect. I do not know whether the defendant has a job or any money at all in a bank account. I would have to send him a notice through the court to provide bank account information or job information, then money may be garnished. If he refuses to provide this information then he could be held in contempt of court and could be arrested. But I read online somewhere that the insurance...
by Boston Barry
Mon Apr 29, 2019 11:59 pm
Forum: Investing - Theory, News & General
Topic: Alpha Architect: Buyer Beware:The Reality Of Tax Loss Harvesting Benefits
Replies: 22
Views: 2637

Re: Alpha Architect: Buyer Beware:The Reality Of Tax Loss Harvesting Benefits

I use Schwab Intelligent Portfolios which harvested 140K in losses in 2018. No sale made by their algorithm was for pennies, all were for $1000+ in paper losses. I am not able to spend the time watching and timing TLH sales so was happy the computer did it for me. I was able to sell 140K of gains in gifted inherited individual stocks and buy index funds in return. So everyone’s situation is different but for me TLH was worthwhile.
by Boston Barry
Sun Apr 28, 2019 9:37 am
Forum: Personal Consumer Issues
Topic: [Cellphone SIM card hijacking - Security concerns and mitigation techniques]
Replies: 254
Views: 39358

Re: Man’s life savings stolen from hijacked cellphone number

From a legal standpoint, wouldn’t the carrier be liable for the amount of stolen money if the carrier employee performed an unauthorized SIM swap which led to the theft?
by Boston Barry
Thu Apr 25, 2019 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

I included my pre/post appraisal report in full as an exhibit when I filed in small claims court. I assumed it would need to be provided for review if I wanted it accepted into evidence, and I felt it was strong evidence as to why what I was asking for was compensatory and not punitive. I also had references to case law supporting the right to claim diminished value in my state. We settled out of court for the valuation differential, and I agreed to eat the costs of the appraisal and filing. I did also sign an agreement relinquishing any future claims at that point. YMMV I didn’t realize I could / ?should file evidence ahead of the day of trial. I guess what I am nervous about is that I will be giving the defendant an advantage by showing ...
by Boston Barry
Thu Apr 25, 2019 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Update from OP: the at-fault car owner’s insurance company must have gotten an earful from their client after I filed a small claims suit. A couple of days ago I received an email from the insurance company: “Hello, we acknowledge your small claims suit in which you are claiming a loss of value to your 2017 BMW as a result of the accident. Your complaint mentions you have an evaluation by a certified appraiser reflecting a loss in value of $4,000. Can you please forward this report to me and I would be happy to consider this new information?” Should I respond? Share the certified appraiser’s report? Do nothing and wait to see if they make an offer to settle? Go to small claims court (date is two weeks away)? Any advice greatly appreciated!!...
by Boston Barry
Tue Mar 26, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Thanks for everyone who replied. Update: I just filed in small claims court after insurance company refused payment. I obtained a certified expert appraisal of pre-and post accident value, and this person estimated diminished value of just under $4000. That is what I filed to recover in small claims court. Court date in May. Appraisal cost me $300 and filing and serving papers cost me about $80, I’m doing this more because of interest in how it will play out, with of course the belief that i am owed this money from the guy (or his insurance) that rear-ended my just purchased car at 35 mph. I will update again once court completed. Two questions: 1. How will you prove you had a loss, when you only have a paper loss rather than a actual loss...
by Boston Barry
Tue Mar 26, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Thanks for everyone who replied. Update: I just filed in small claims court after insurance company refused payment. I obtained a certified expert appraisal of pre-and post accident value, and this person estimated diminished value of just under $4000. That is what I filed to recover in small claims court. Court date in May. Appraisal cost me $300 and filing and serving papers cost me about $80, I’m doing this more because of interest in how it will play out, with of course the belief that i am owed this money from the guy (or his insurance) that rear-ended my just purchased car at 35 mph. I will update again once court completed.
by Boston Barry
Sun Mar 24, 2019 11:05 am
Forum: Personal Investments
Topic: Put too much into SEP-IRA
Replies: 2
Views: 343

Re: Put too much into SEP-IRA

Great, thank you
by Boston Barry
Fri Mar 22, 2019 4:26 pm
Forum: Personal Investments
Topic: Put too much into SEP-IRA
Replies: 2
Views: 343

Put too much into SEP-IRA

Any advice would be appreciated—
I earned $82,000 via 1099 for 2018.
I put $20,000 into a Schwab SEP-IRA during calendar year 2018.
It turns out that my maximum contribution was around $14,500 rather than $20,000.
Is there any way to rectify?

Thank you

Boston Barry
by Boston Barry
Wed Feb 27, 2019 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

stlutz wrote: Wed Feb 27, 2019 10:41 pm How much money are you looking for? Are you planning to sell the car in the near future?
Looking for as little as 1K. It’s been a royal pain in the neck dealing with this (car has been in shop for over a month, had to have frame cut and replaced [riveted]) and I do feel that the car is worth less than just before the accident.
by Boston Barry
Wed Feb 27, 2019 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

It is s true statement that insurance companies rarely pay diminished value on a vehicle that has already been in an accident. It is also true that your own insurance company never pays diminished value on a vehicle you own. Not sure why but that is true. In order to win, you would need to provide a third party estimate of value before and after the second accident. Unfortunately, there are few appraisers in the business. One big factor in DV claims is whether there is permanent damage. If not, it is hard to claim dv. Thanks. I figure since the used value was determined just two weeks prior at 45K (by the sale), that would serve as a good pre-accident value. I guess I will call up dealer and ask to give me a turn in value, and try to plug ...
by Boston Barry
Wed Feb 27, 2019 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value
Replies: 73
Views: 10954

Re: Help! At Fault’s Insurance Company Refusing to Pay Diminished Value

Sentry Insurance is the company. 123, yes it is difficult to determine exactly the amount of diminished value, but a price was set two weeks before the latest accident ($45K) and now my position is that it is worth less than prior to the accident. Do any members have experience with this? What is the best way to determine new value, should I ask the dealer from whom I bought it how much trade in value to be? Other ideas? I feel I should go into this with some estimated new value.